Gujarat Energy Limited reported its financial results for Q4 and FY26 on June 1, 2026, detailing the first consolidated performance following the amalgamation of GSPC, GSPL, and GSPC Energy. The company, formerly known as Gujarat Gas Limited, recorded an EBITDA of ₹943 crores in Q4 FY26, up from ₹790 crores in the corresponding quarter of the previous year. For the full year FY26, EBITDA stood at ₹3,772 crores compared to ₹3,241 crores in the previous year. Profit After Tax (PAT) for the full year was ₹2,299 crores. The Board of Directors has recommended a dividend of ₹8.90 per share, equivalent to 445% of face value, with a total outgo of approximately ₹835 crores.

Scheme of Arrangement Status

The corporate restructuring involving the amalgamation of GSPC, GSPL, and GSPC Energy into Gujarat Gas Limited received final approval from the Ministry of Corporate Affairs on April 17, 2026. The scheme was made effective from May 1, 2026, coinciding with the Gujarat State Foundation Day. Consequently, Gujarat Gas Limited was renamed to Gujarat Energy Limited effective May 14, 2026. The appointed date for the merger was April 1, 2024, while the demerger of the gas transmission business into GSPL Transmission Limited (GTL) was effective from April 1, 2025. The record date for the issuance of shares to shareholders of GSPC and GSPL was May 12, 2026, with allotment completed on May 16, 2026. Listing and trading permissions for the new shares are expected shortly.

Operational Performance

Gujarat Energy described itself as an integrated natural gas company with four major business segments: City Gas Distribution (CGD), gas trading, exploration and production, and wind power generation. The CGD segment achieved its highest-ever CNG volume of 3.6 mmscmd during Q4 FY26, representing a 12% year-on-year growth. The CNG vehicle base reached approximately 17.68 lakh as of March 2026. The company added approximately 43,000 new domestic PNG customers in Q4 FY26, bringing the cumulative base to over 24.18 lakh. In the PNG Industrial segment, sales volume was 4.19 mmscmd in Q4 FY26, with the Morbi ceramic cluster being the largest partner. Volumes in Morbi reached approximately 8 mmscmd by the last week of May 2026.

Gas Trading and Financials

The Gas Trading segment reported earnings before tax of ₹1,334.61 crores in FY26, up from ₹1,222 crores in FY25. Gas trading volume for FY26 stood at 10.2 mmcmd, net of intersegment sales. The company has access to long-term LNG supplies aggregating to approximately 2.96 MTPA and signed new SPAs aggregating to up to 1.36 MTPA during the year. Earnings Per Share (EPS) for FY26 were calculated based on an expanded equity base of 93.82 crore shares. The financials for FY24 and FY25 have been reinstated to reflect the effects of the scheme, though comparatives are not like-for-like due to the demerger of the transmission business.

Segmental EBITDA

The company provided a breakdown of EBITDA for FY26 across its segments. The Gas Trading business contributed approximately ₹1,300 crores, while the CGD segment contributed approximately ₹1,900 crores. The Exploration and Production segment reported an EBITDA of ₹29 crores, and the Renewables segment reported ₹46 crores.

Gujarat Gas Limited confirmed that its promoters did not create any encumbrance on shares, directly or indirectly, during the Financial Year 2025-26. The disclosure, submitted to stock exchanges on April 4, 2026, covers the company's key promoter entities, including the Government of Gujarat, Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, and Gujarat State Energy Generation Limited. This confirmation ensures that the shareholding remains free from pledges or other charges for the specified period.

The filing was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company stated that the absence of encumbrance is also evident from the shareholding pattern filed under Regulation 31(b) of the SEBI (LODR) Regulations, 2015, for the Financial Year 2025-26. This annual declaration serves as a formal record for the regulatory authorities.

The following table details the promoter entities covered under this disclosure:

The communication was addressed to BSE Limited and the National Stock Exchange of India Ltd to fulfill the regulatory requirements. Sandeep Dave, Company Secretary, signed the disclosure on behalf of the promoters of Gujarat Gas Limited.