Gujarat Energy Limited, the newly rebranded integrated energy major, has reported its financial results for Q4 and FY 2025–26 alongside a sweeping corporate transformation into a fully integrated energy conglomerate.
The company, formerly Gujarat Gas Limited, is now repositioning itself as a unified energy platform following the GSPC Group composite scheme of arrangement effective 1 May 2026.
For Q4 FY26, Gujarat Energy Limited posted revenue from operations of approximately Rs. 5,976 crore, down from Rs. 6,560 crore in Q4 FY25. Full-year revenue stood at Rs. 24,198 crore, compared to Rs. 27,718 crore in FY25.
However, profitability improved. EBITDA rose to Rs. 943 crore in Q4 FY26, up from Rs. 799 crore a year earlier. Full-year EBITDA came in at Rs. 3,772 crore, compared to Rs. 3,677 crore in FY25.
Net profit remained strong, with Q4 PAT at Rs. 521 crore and full-year PAT at Rs. 2,299 crore. The company reported a net worth of Rs. 18,517 crore as of 31 March 2026 and EPS of Rs. 24.50 for FY26.
The board has recommended a final dividend of Rs. 8.90 per equity share (face value Rs. 2, or 445%) for FY26, subject to shareholder approval. The company said this is the highest dividend ever recommended by the board.
The results come alongside a major structural overhaul. Following the GSPC Group composite scheme, Gujarat Gas Limited has officially transitioned into Gujarat Energy Limited, an integrated energy company.
Gas trading, exploration & production assets, wind power generation, and investments are now housed under Gujarat Energy Limited. The gas transmission business has been demerged into GSPL Transmission Limited (GTL), with a separate listing on BSE and NSE underway.
In response to the Middle East crisis, the company accelerated expansion of piped natural gas (PNG) networks to reduce dependence on LPG.
Between March and May 2026, 86 residential societies (around 13,000 households) were converted to full PNG usage, taking the cumulative total to 2,835 societies (about 4.86 lakh households). Commercial PNG connections also rose sharply from 152 to 527 units during the same period.
The Morbi ceramic cluster saw strong growth, with connected units increasing from 83 to 675 and consumption rising from 0.36 MMSCMD to 7.8 MMSCMD.
Total sales volume stood at 13.51 MMSCMD in Q4 FY26, supported by strong CGD performance.
CNG volumes hit a record 3.60 MMSCMD, up 12% year-on-year, driven by a network of 839 CNG stations. The company added 7 new stations in Q4 FY26 and 14 during the full year, including stations under the FDODO model.
PNG expansion continued strongly, with over 35,400 new domestic customers added in Q4, taking total household connections to more than 24.18 lakh homes.
The company’s pipeline network now spans over 45,250 km across six states and one Union Territory, with Rs. 561 crore invested in CGD infrastructure during FY26.
Gujarat Energy Limited says its transformation marks a strategic shift toward becoming a diversified energy leader across gas distribution, trading, exploration, and renewable energy assets.
