Gujarat Energy Ltd
Gujarat Energy Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Industrial volumes have declined sharply (40%-50%) recently, mainly due to competitive propane pricing affecting Morbi volumes (Q2 volumes fell from 2.13 to 1.68 MMSCMD). EBITDA margin guidance for FY26: ₹5.5 to ₹6.5 per SCM; similar run rate expected for FY27 and FY28, with updates after March results. - Q3 FY26 EBITDA increased to ₹502 crores from ₹439 crores YoY; 9-month EBITDA at ₹1,602 crores vs.
From Gujarat Energy Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Industrial volumes have declined sharply (40%-50%) recently, mainly due to competitive propane pricing affecting Morbi volumes (Q2 volumes fell from 2.13 to 1.68 MMSCMD).
- Volume growth guidance for FY27 is uncertain and will depend largely on industrial propane prices; clarity expected by March-April 2026.
- CNG and domestic segments are expected to grow in double digits (~10% or more), driven by expanded CNG station infrastructure (target to cross 1,000 stations in 2-3 years) and increased vehicle adoption.
- Non-Morbi industrial areas such as Ahmedabad rural, Dahej, Kutch, and Thane show potential for meaningful volume growth due to new steel pipeline infrastructure and anticipated access to cheaper gas.
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Profitability & Margins
See what Gujarat Energy Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- FY '25-'26 capex planned at INR 650-700 crores for Gujarat Gas standalone CGD business; similar run rate expected for next couple of years.
- Infrastructure investments primarily outside Morbi region, including new steel pipelines (e.g., Dholera region) to connect industrial markets like Ahmedabad rural, Dahej, Kutch, Thane, UDI (MP), and Valsad.
- Focus on upgrading CNG stations by converting daughter booster stations to online stations, increasing compression capacity with relatively lower cost. Target to cross 1,000 CNG stations in 2-3 years.
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Top-ranked in Gas
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Gujarat Energy Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
Gujarat Energy Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹3.7K Cr, net profit ₹267 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Gujarat Energy Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Gujarat Energy Ltd Q3 FY26 results?
Industrial volumes have declined sharply (40%-50%) recently, mainly due to competitive propane pricing affecting Morbi volumes (Q2 volumes fell from 2.13 to 1.68 MMSCMD). EBITDA margin guidance for FY26: ₹5.5 to ₹6.5 per SCM; similar run rate expected for FY27 and FY28, with updates after March results. - Q3 FY26 EBITDA increased to ₹502 crores from ₹439 crores YoY; 9-month EBITDA at ₹1,602 crores vs.
What is Gujarat Energy Ltd share price analysis?
Gujarat Energy Ltd currently shows a neutral. The stock trades at a P/E of 14.4 with a market cap of ₹25,571 Cr. Investors should review the full earnings analysis for detailed insights.
Is Gujarat Energy Ltd planning capital expenditure?
FY '25-'26 capex planned at INR 650-700 crores for Gujarat Gas standalone CGD business; similar run rate expected for next couple of years.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.