Gujarat Gas Limited — Investor Meet, 12-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Gujarat Gas Q1 FY26: Revenue Rs 4,065 Cr, EBITDA Rs 579 Cr, PAT Rs 327 Cr. EBITDA margin was Rs 7.17/SCM, with an FY26 outlook of Rs 4.5-5.5/SCM. Industrial volumes decreased 6% QoQ to 4.71 MMSCMD, primarily in Morbi due to propane price differences. Non-Morbi volumes increased 2%. CNG sales surged 12% YoY to 3.72 MMSCMD. The company plans to source and sell propane/LPG to industrial customers, targeting 25% of the Morbi propane market without new capital expenditure. Management anticipates lower Q2 Morbi volumes due to festivals but sees strong non-Morbi growth and positive long-term gas price trends.