Gujarat Energy Limited has announced its unaudited financial results for the second quarter and half-year ended September 30, 2026. The company reported a substantial 59.4% year-on-year revenue growth to ₹9,826 crores in Q2 FY27. EBITDA saw a 19.5% increase, reaching ₹1,019 crore, while Profit After Tax grew by 21.8% to ₹639 crore.
Gujarat Energy Announces Strong Q2 FY27 Financial Performance
Gujarat Energy Limited (GEL) has released its unaudited standalone financial results for the quarter and half-year ended September 30, 2026 (Q2 & HIFY27). The company has demonstrated robust financial growth, with revenue from operations increasing by 59.4% year-on-year to ₹9,826.08 crore in Q2 FY27. For the half-year period (HIFY27), revenue grew by 61.3% to ₹19,496.34 crore.
Key Financial Highlights
The company’s operational performance translated into significant profitability improvements:
- EBITDA for Q2 FY27 grew by 19.5% to ₹1,019.40 crore, compared to ₹853.09 crore in the previous year. HIFY27 EBITDA rose by 43.1% to ₹2,501.57 crore.
- Profit After Tax (PAT) saw an increase of 21.8% in Q2 FY27, reaching ₹639.27 crore. For HIFY27, PAT surged by 50.8% to ₹1,637.24 crore.
- Earnings Per Share (EPS) in Q2 FY27 was ₹6.81, up from ₹5.59 in Q2 FY26. HIFY27 EPS stood at ₹17.45.
Strategic and Corporate Developments
The Board of Directors also approved several key strategic initiatives:
- Execution of long-term LNG sourcing agreements with international suppliers for approximately 0.8 MTPA over a 10-year tenure, linked to the Henry Hub, to ensure supply security.
- Approval for the execution of a Regasification Agreement on a firm basis for LNG Cargo Slots at GSPC LNG Limited’s Mundra LNG Terminal.
Operational Performance Updates
Significant advancements were noted in the company’s operational segments:
- CGD Update: In Q2 FY27, CGD volumes increased by ~24% YoY to 10.7 MMSCMD. HIFY27 volumes saw a ~31% YoY increase to 11.5 MMSCMD, driven by industrial demand and CNG penetration. GEL expanded its MDPE pipeline network to 43,148 km and its steel pipeline network to 3,542 km as of September 30, 2026.
- Capex Update: GEL incurred capex of approximately ₹181 crore in Q2 FY27, bringing the total capex to approximately ₹308 crore as on HIFY27. The company reiterated its capex guidance of approximately ₹1,000 crore for FY27.
- CNG Update: CNG volumes in Q2 FY27 increased by ~11% YoY to 3.67 mmscmd, and HIFY27 volumes grew by ~12% YoY to 3.72 MMSCMD. The company added 13 CNG stations in Q2 FY27, bringing the total to 857 stations as of HIFY27.
- PNG Update: Approximately ~49,000 new domestic customers were added in Q2 FY27, with a total of ~1,08,000 new domestic customers added in HIFY27.
- Gas Sourcing Update: In Q2 FY27, 14 LNG cargoes were imported, bringing the HIFY27 total to 24 LNG cargoes, compared to 12 in HIFY26, enhancing supply flexibility.
Management Commentary
Shri M K Das, IAS, Chairman, highlighted that the long-term LNG sourcing agreements aim to reduce dependence on spot LNG cargoes and ensure a reliable and sustainable supply. Smt. Avantika Singh, IAS, Managing Director, commented on the strong Q2 FY27 performance, attributing it to the business model’s resilience and a focus on operational excellence. She emphasized the company’s commitment to expanding its City Gas Distribution network, strengthening CNG infrastructure, and accelerating domestic PNG penetration. GEL is also exploring new business initiatives, including EOI for LNG Stations and Compress Biogas (CBG) Plants to drive the transition towards a cleaner energy mix.
About Gujarat Energy Limited
Gujarat Energy Limited (Erstwhile Gujarat Gas Limited) is a leading Integrated Energy Company in India with over three decades of experience. It serves households through a network of 46,690+ kms of gas pipeline, distributing approximately 15.38 mmscmd of natural gas in Q2 FY27. The company operates 857 CNG stations and provides natural gas to over 25.3 lakh households across six states and one union territory.
Source: BSE
