Gujarat Natural Resources has announced a stock split, with November 5, 2026 fixed as the record date for the corporate action.

Stock split details

Under the split, each existing equity share of face value ₹10 will be subdivided into ten equity shares of face value ₹1 each. The table below summarises the key parameters of the split.

The stock split will increase the total number of equity shares in proportion to the subdivision ratio, with the face value of each share reducing from ₹10 to ₹1.

Gujarat Natural Resources Limited reported a return to consolidated profitability for the fiscal year ended March 31, 2026, posting a net profit of ₹989.31 lakh against a loss of ₹376.03 lakh in the previous year. The company’s standalone revenue from operations also witnessed significant growth, rising to ₹1,147.66 lakh from ₹70.40 lakh in FY25.

The improvement in financial performance was accompanied by operational advancements in the Cambay Basin. During the year, the company and its subsidiary completed three wells and brought them into commercial production. Drilling activities included the Kanawara well K#17, which encountered a 24-metre hydrocarbon-bearing zone. Testing in the younger Cambay Shale section indicated wet gas, with initial flows recorded at approximately 18,000 SCMD of gas and 5 cubic metres per day of condensate.

Financial Performance Overview

The company’s financial metrics for FY26 reflect a substantial turnaround compared to the prior fiscal year. Below is a summary of the key standalone and consolidated figures disclosed during the 35th Annual General Meeting held on September 30, 2026:

Operational Highlights and Capital Structure

The Chairman informed members that 2.5 crore equity shares were allotted on November 1, 2025, following the conversion of warrants and receipt of balance exercise consideration from a preferential issue approved by shareholders. This capital infusion supports the company’s ongoing exploration and development activities.

Key operational developments include:

• Completion and commercial production commencement of three wells in the Cambay Basin.
• Initiation of a two-well development drilling programme in the North Balol gas field, where the subsidiary holds a 30% participating interest.
• Continued focus on evaluating hydrocarbon potential and augmenting reserves.

What the Numbers Show

A divergence between standalone and consolidated performance highlights the group’s operational structure. While standalone revenue grew approximately 16 times YoY, consolidated revenue grew by roughly 52%. This suggests that while the parent entity’s direct operations expanded significantly, a substantial portion of the consolidated revenue base remains driven by subsidiary-level activities or inter-group eliminations that dilute the parent’s percentage growth rate. Furthermore, the shift from a consolidated loss to a near-₹1,000 lakh profit indicates that the operational efficiencies gained from new well productions have successfully offset prior-year losses across the group.