GUJARAT ENERGY LIMITED — Investor Meet, 17-08-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Gujarat Energy Limited (GEL) held an earnings conference call to discuss Q1 FY27 performance. The company reported strong financial results, with revenue up 63% YoY to INR9,670 Cr, EBITDA up 65% YoY to INR1,482 Cr, and PAT up 78% YoY to INR998 Cr. Gas trading segment saw a significant jump in profitability, while City Gas Distribution (CGD) business showed healthy volume growth across CNG and PNG segments. Management expressed confidence in navigating market uncertainties, driven by an integrated business model and diversified sourcing.

Management highlighted robust performance in gas trading and CGD segments. CNG volumes grew 13% YoY, with expansion plans for new stations. PNG domestic customer base crossed 24.77 lakh households. Industrial PNG sales surged 64% YoY, driven by strong demand from the Morbi ceramic cluster, despite availability of alternate fuels. The company is also investing in its own propane import facility. Future outlook remains positive, with strategies to enhance volume growth and maintain sustainable margins.

The company detailed its gas sourcing mix, with a significant portion on spot basis. Management discussed pricing for industrial sales and strategies for non-Morbi industrial volumes, emphasizing infrastructure development. They also addressed plans for their power business, seeking to revive its utilization. GEL reported substantial cash reserves of around INR7,200 Cr and outlined a capital expenditure plan of INR1,000 Cr for CGD, with further diversification strategies in the energy sector.

The call also covered the listing timeline for GSPL Transmission Limited, expected by early September. Management indicated that a revised dividend policy might be considered post-merger. They reiterated a gas trading profit guidance of INR1,100 Cr to INR1,200 Cr for the year, while acknowledging ongoing volatility from the Middle East crisis. The overall sentiment from the call was confident.