Gujarat Energy FY26 Net Profit Falls; Q4 EBITDA Margin Contracts to 13.10%
Gujarat Energy Limited reported a decline in FY26 net profit to ₹2,298.55 crore from ₹4,204.02 crore, with revenue falling to ₹24,198 crore from ₹27,717.65 crore. Q4 EBITDA contracted to ₹7.83B with a margin of 13.10% versus 15.59% QoQ, while the Board recommended a final dividend of ₹8.90 per share and approved 62,27,14,719 equity share allotments under the Composite Scheme of Amalgamation.

*this image is generated using AI for illustrative purposes only.
Gujarat Energy Limited reported a net profit of ₹2,298.55 crore for the financial year ended March 31, 2026, a decrease from the restated net profit of ₹4,204.02 crore in the previous year. Revenue from operations for FY26 stood at ₹24,198 crore, compared to the restated ₹27,717.65 crore in FY25. The Board of Directors, at its meeting held on May 30, 2026, approved the audited standalone and consolidated financial results and recommended a final dividend of ₹8.90 per equity share of ₹2 each, aggregating to ₹835.03 crore, subject to shareholder approval at the Annual General Meeting.
Financial Performance
The company's standalone profit after tax from continuing operations for FY26 was ₹2,298.55 crore. For the quarter ended March 31, 2026, the standalone net profit from continuing operations was ₹520.58 crore (₹5.21B), compared to ₹6.92B in the previous quarter (QoQ). Revenue from operations for Q4 stood at ₹60B, compared to ₹61B in the preceding quarter (QoQ), while the full-year revenue was ₹5,975.63 crore for the quarter. Q4 EBITDA came in at ₹7.83B versus ₹9.56B in the prior quarter (QoQ), with the EBITDA margin contracting to 13.10% from 15.59% QoQ. The statutory auditors, M/s. Ashok Chhajed & Associates, issued an unmodified opinion on the audited financial results.
The following table summarises the key annual financial metrics:
| Metric: | FY26 (₹ in crore) | FY25 Restated (₹ in crore) |
|---|---|---|
| Revenue from Operations: | 24,198.00 | 27,717.65 |
| Total Income: | 24,818.89 | 28,317.09 |
| Total Expenses: | 21,664.02 | 25,222.54 |
| Net Profit (Continuing): | 2,298.55 | 3,481.98 |
| Net Profit (Total): | 2,298.55 | 4,204.02 |
The Q4 performance metrics on a sequential basis are presented below:
| Metric: | Q4 (Current) | Q3 (QoQ) |
|---|---|---|
| Net Profit: | ₹5.21B | ₹6.92B |
| Revenue: | ₹60B | ₹61B |
| EBITDA: | ₹7.83B | ₹9.56B |
| EBITDA Margin: | 13.10% | 15.59% |
Operational Highlights
Gujarat Energy Limited achieved its highest ever CNG volume of 3.60 mmscmd in Q4 FY26, a 12% increase from 3.22 mmscmd in Q4 FY25. The company operates 839 CNG stations and added 7 new stations in Q4 FY26. In the PNG segment, the company added 35,400+ new domestic customers in Q4 FY26, serving over 24.18 lakh households. Total pipeline network spans ~45,250+ km across 6 states and 1 Union Territory, with an investment of ₹561 crore in CGD infrastructure during the year.
Board Decisions and Corporate Actions
In addition to the financial results, the Board approved the re-appointment of four Independent Directors—Prof. Yogesh Singh, Shri Bhadresh Mehta, Shri Balwant Singh (IAS Retd.), and Dr. Rekha Jain—for a second term of three years. The Board also approved changes in senior management personnel and a change in the registered office address to "Gujarat Energy Bhavan, Behind Udyog Bhavan, Sector-H, Gandhinagar, Gujarat - 382010".
Pursuant to the Composite Scheme of Amalgamation and Arrangement, the Board had previously approved the allotment of 62,27,14,719 equity shares to eligible shareholders of Gujarat State Petroleum Corporation Limited (GSPC) and Gujarat State Petronet Limited (GSPL) as of the record date of May 12, 2026. The Ministry of Corporate Affairs sanctioned the scheme with an effective date of May 01, 2026.
Historical Stock Returns for Gujarat Gas
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.48% | +7.66% | +4.74% | -0.21% | -12.77% | -21.76% |
What strategies will the company implement to reverse the decline in EBITDA margins and address the contraction in profitability?
How will the recent amalgamation with GSPC and GSPL impact the company's operational efficiency and financial leverage going forward?
What are the capital expenditure plans for the upcoming fiscal year to support the expansion of the CNG station network and pipeline infrastructure?


































