ALFA Finder
The call ran from 4:01 PM to 5:02 PM IST (1 h 1 min).
Key takeaways
Revenue +59% and PAT +22% to ₹639 Cr, driven by CGD and gas trading. Morbi industrial demand collapsed and trading margins fell below guidance. Management was defensive on the GSFS treasury link.
| Revenue growth | Revenue +59% YoY to ₹9,826 Cr; gas trading-led, price pass-through heavy. |
|---|---|
| Margins | Gas trading margin ~4% in Q2, below 5-6% guidance; CGD ~4.7/SCM. |
| Demand visibility | Morbi industrial demand fell to ~1 MMSCMD; CNG growth steady. |
| Management confidence | Balanced to defensive; denied GSFS-GSPC link, deferred several breakdowns. |
Growth
Revenue +59% to ₹9,826 Cr, mostly gas trading (+84%). CGD volumes +24% and EBITDA +20%, with price pass-through heavy.
Outlook
FY27 capex ~₹1,000 Cr; 0.8 MTPA LNG from FY28 at $7–9/MMBtu DES; CBG capex up to ₹100 Cr.
Risks
Morbi volumes fell from ~8 to ~1 MMSCMD; trading margin ~4% vs 5-6% guidance; Qatar LNG disruption.
Last quarter's promises, checked
Partly delivered
- Guided 4–5% gas trading margin → ~4%, low end (= PARTIAL)
- Guided >75 new CNG stations FY27 → 18 added H1 (= PARTIAL)
- Guided ~₹1,000 Cr FY27 CGD capex → ₹181 Cr Q2 capex (= PARTIAL, too early to judge)
Missed
- Guided ~3 mmscmd Morbi run-rate → ~1 MMSCMD (= MISS)
- Guided ₹5.5–6.5/SCM CGD EBITDA → ~₹4.7/SCM (= MISS)
- Guided 12–13% CNG growth → ~11% (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Gujarat Energy Q2 FY27 Results: Net Profit ₹489.8 Cr, Up 26.0% YoY
Gujarat Energy Ltd reported revenue from operations of ₹9,857 Cr (+59.7% YoY) and net profit of ₹489.8 Cr (+26.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹489.8 Cr · +26.0% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Guided FY27 CGD capex of ₹1,000cr; aiming for 25-30% gas trading growth by 2030-31; pursuing propane infrastructure and Henry Hub volumes.
Growth they described
FY26 EBITDA rose to ₹3,772cr from ₹3,241cr YoY; Q4 CNG volumes hit a record 3.6 mmscmd (up 12% YoY).
Call details
| Company | GUJARAT ENERGY LIMITED |
|---|---|
| NSE symbol | GUJENERGY |
| ISIN | INE844O01030 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 4:00 PM IST |
| Length | 1 h 1 min |
| Audio | Our stream on YouTube ↗ |
GUJARAT ENERGY LIMITED: key numbers
- Share price
- ₹216.18
- Market cap
- ₹20,283 Cr
- Revenue (annual)
- ₹23,614 Cr
- Net profit (annual)
- ₹2,019 Cr
- P/E (TTM)
- 9.6×Sector 21.9×
- Promoter holding
- 38.94%+0.00% QoQ
- FII holding
- 11.94%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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