Gujarat Gas Limited (GGL), a prominent player in the natural gas distribution sector, has announced a crucial meeting of its equity shareholders scheduled for October 17, 2025. The meeting, to be held virtually at 3:00 PM, will focus on considering and potentially approving a Composite Scheme of Amalgamation and Arrangement.

Key Meeting Details

• Date and Time: October 17, 2025, at 3:00 PM
• Mode: Video Conferencing (VC) / Other Audio Visual Means (OAVM)
• Purpose: To consider and approve the proposed Composite Scheme of Amalgamation and Arrangement

Important Dates for Shareholders

The meeting follows directions from the Ministry of Corporate Affairs (MCA) issued on September 10, 2025. Gujarat Gas has emphasized that the meeting will be conducted in accordance with applicable MCA and SEBI circulars.

Shareholder Participation

Shareholders whose email addresses are registered with the company or depositories will receive the meeting notice and explanatory statements electronically. This move aligns with the ongoing trend of digital communication in corporate governance.

Corporate Governance Update

In a separate announcement, Gujarat Gas informed that the Comptroller & Auditor General of India has appointed M/s. Ashok Chhajed & Associates, Chartered Accountant, Ahmedabad, as the Statutory Auditors of the Company for the Financial Year 2025-26. This appointment, communicated on September 11, 2025, underscores the company's commitment to maintaining robust financial oversight.

Gujarat Gas Limited, a GSPC Group Company and a Government of Gujarat Undertaking, continues to play a significant role in India's natural gas sector. As the company moves forward with its amalgamation plans, shareholders and market observers will be keenly watching the outcomes of the upcoming meeting and its potential impact on the company's future strategic direction.

Gujarat Gas Limited , India's largest city gas distribution company, reported mixed results for the first quarter, with revenue declining but EBITDA showing a slight improvement. The company also announced its entry into the propane distribution business, aiming to diversify its energy offerings.

Financial Performance

Gujarat Gas reported revenue from operations of Rs 4,065.00 crores for Q1, down from Rs 4,615.00 crores in the corresponding quarter of the previous year. Despite the revenue decline, the company managed to maintain its profitability:

• EBITDA stood at Rs 579.00 crores, marginally up from Rs 574.00 crores year-over-year
• Profit after tax was Rs 327.00 crores, slightly lower than Rs 330.00 crores in the same quarter last year
• EBITDA margin per SCM improved to Rs 7.17 from Rs 5.75 in the previous quarter

Operational Highlights

The company faced challenges in its industrial segment but saw strong growth in CNG sales:

• Industrial segment volumes decreased by 6% to 4.71 MMSCMD
• Morbi volumes declined from 2.87 MMSCMD to 2.51 MMSCMD due to customers shifting to propane
• CNG segment showed robust performance with 12% year-over-year growth in sales volumes, reaching 3.72 MMSCMD
• Added approximately 36,000 new domestic connections
• Commissioned 3 new CNG stations during the quarter

Strategic Initiatives

Gujarat Gas announced two significant strategic moves:

1. Entry into propane and LPG sourcing and sales business, targeting 25% of the Morbi propane market
2. Board approval to undertake sourcing and sale of propane and LPG to industrial customers

These initiatives aim to position Gujarat Gas as a total energy solution provider and diversify its offerings to meet customer needs.

Future Outlook

The company provided guidance on its financial and operational expectations:

• Projected annual CAPEX of Rs 800.00-1,000.00 crores
• Estimated EBITDA margins of Rs 4.50-5.50 per SCM for the financial year
• Plans to add more CNG stations under the FDODO (Franchise-Owned Dealer-Operated) scheme

Gujarat Gas remains optimistic about its CNG business growth, expecting to add a double-digit number of CNG stations before December under the FDODO scheme.

Market Dynamics

The company is navigating a challenging environment in the Morbi region, where some customers have shifted to propane due to price differentials. However, Gujarat Gas expects the natural gas demand to normalize in the medium to long term, citing upcoming increases in global LNG supplies that could lead to more competitive pricing.

As Gujarat Gas expands its energy portfolio and continues to invest in infrastructure, it aims to strengthen its position as a leading player in India's growing natural gas market while adapting to evolving customer needs and market conditions.