Any current/future new fundraising through debt or equity?

Gujarat Gas plans a CAPEX of INR 1000 to 1200 crores per annum for the next three years. The CAPEX will be primarily funded through internal accruals/cash flows. There may be occasional small bridge loans to advance CAPEX for specific demand pockets. No immediate plans for additional investment or fundraising for the LNG project. The company continues to be a zero-debt company. No mention of any new equity fundraising; equity investment related only to Mundra LNG terminal stake acquisition, which is mostly finalized.

Any current/future capex/capital investment/strategic investment?

Gujarat Gas plans a CAPEX of ₹1,000 to ₹1,200 crore per annum for the next three years, funded mainly through internal accruals. CAPEX split is roughly equal among new Geographical Areas (GAs), existing GAs, and CNG infrastructure. Investments include augmenting infrastructure, adding capacity, converting daughter boosters, and adding 60-70 new CNG stations mostly in Ahmedabad rural area. No immediate new investments planned in LNG infrastructure, but the company keeps evaluating long-term and short-term LNG sourcing options. Strategic investment includes acquiring around 7.87% equity stake in

Future growth expectations in sales/revenue/volumes?

Industrial volume growth: 10% growth in Q1 FY23-24; overall volume up from 8.86 mmscmd (Q4 FY22-23) to 9.22 mmscmd. Morbi industrial cluster volumes increased to 4.01 mmscmd; potential to reach 5 mmscmd in H2 FY23-24 and beyond with margin expansion. New GA volumes (CNG and PNG) currently at 0.5-0.6 mmscmd; expected to grow to around 1 mmscmd by end of FY25. CNG vehicle base around 8.5 lakh vehicles; addition run rate improving with ~30,000 new vehicles added in current quarter. CNG stations doubled from 400 to 800 in last three years; plan to add 60-70 new stations mainly in Ahmedabad rural a

Future growth expectations in earnings/operating earnings/profits/EPS?

Gujarat Gas aims to maintain EBITDA in the range of Rs. 4.5 to Rs. 5.5 per SCM on a long-term basis, balancing volumes and margins. The company projects volume growth, notably in industrial demand from areas like Morbi, Thane rural, Ahmedabad rural, Rajasthan, and Punjab. Industrial volumes grew 10% in Q1 FY24; overall volume growth was 4%, indicating strong underlying demand. Expansion of infrastructure, including around 60-70 new CNG stations annually, targeting 800+ stations; vehicle additions on CNG also rising (~30,000 vehicles added in current quarter). CAPEX planned at Rs. 1000-1200 cro

Current/ Expected Orderbook/ Pending Orders?

The transcript does not explicitly mention the current or expected order book or pending orders for Gujarat Gas Limited. There is a focus on expansion plans including infrastructure development and new cluster additions such as in Morbi, Thane rural, Palghar, Jalore, Sirohi, and Dahej. The company is aggressively investing in CNG infrastructure, having increased CNG stations from 400 to 800 in the last three years. Capex guidance is set at Rs. 1000 to 1200 crores per annum for the next three years, split roughly equally between new GAs, existing GAs, and CNG infrastructure, indicating on

Gujarat Energy LtdQ1 FY24Gas

Gujarat Energy Ltd Q1 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹220.08P/E: 10.5Market Cap: ₹20.6K CrSector: Gas

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Industrial volume growth: 10% growth in Q1 FY23-24; overall volume up from 8.86 mmscmd (Q4 FY22-23) to 9.22 mmscmd.
Morbi industrial cluster volumes increased to 4.01 mmscmd; potential to reach 5 mmscmd in H2 FY23-24 and beyond with margin expansion.
New GA volumes (CNG and PNG) currently at 0.5-0.6 mmscmd; expected to grow to around 1 mmscmd by end of FY25.
CNG vehicle base around 8.5 lakh vehicles; addition run rate improving with ~30,000 new vehicles added in current quarter.
CNG stations doubled from 400 to 800 in last three years; plan to add 60-70 new stations mainly in Ahmedabad rural and other new GAs annually.
Expansion focus on Thane, Ahmedabad rural, Rajasthan (Jalore-Sirohi), and Punjab industrial/commercial clusters.
Capex of INR 1000-1200 crore annually for next 3 years targeting backbone infrastructure, new and existing GAs, and CNG.
Expect balanced strategy between volume growth and margin maintenance with EBITDA target around Rs.4.5-5.5 per SCM.

Margin guidance

Category 3

Gujarat Gas aims to maintain EBITDA in the range of Rs. 4.5 to Rs. 5.5 per SCM on a long-term basis, balancing volumes and margins.
The company projects volume growth, notably in industrial demand from areas like Morbi, Thane rural, Ahmedabad rural, Rajasthan, and Punjab.
Industrial volumes grew 10% in Q1 FY24; overall volume growth was 4%, indicating strong underlying demand.
Expansion of infrastructure, including around 60-70 new CNG stations annually, targeting 800+ stations; vehicle additions on CNG also rising (~30,000 vehicles added in current quarter).
CAPEX planned at Rs. 1000-1200 crores annually for the next three years to support infrastructure and new geographical areas.
Morbi industrial cluster volumes expected to reach 5 mmscmd and possibly beyond with margin expansion.
EBITDA per SCM in Q1 FY24 at Rs. 4.73 with efforts to sustain or improve profitability amid commodity price fluctuations.
Overall, moderate volume growth with margin stability is expected to support future earnings and EPS growth.

See what Gujarat Energy Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Gujarat Gas plans a CAPEX of INR 1000 to 1200 crores per annum for the next three years.
The CAPEX will be primarily funded through internal accruals/cash flows.
There may be occasional small bridge loans to advance CAPEX for specific demand pockets.
No immediate plans for additional investment or fundraising for the LNG project.
The company continues to be a zero-debt company.
No mention of any new equity fundraising; equity investment related only to Mundra LNG terminal stake acquisition, which is mostly finalized.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for Gujarat Gas Limited.
There is a focus on expansion plans including infrastructure development and new cluster additions such as in Morbi, Thane rural, Palghar, Jalore, Sirohi, and Dahej.
The company is aggressively investing in CNG infrastructure, having increased CNG stations from 400 to 800 in the last three years.
Capex guidance is set at Rs. 1000 to 1200 crores per annum for the next three years, split roughly equally between new GAs, existing GAs, and CNG infrastructure, indicating ongoing and planned projects.
The expectation to grow volumes in new areas to around 1 mmscmd by the end of 2025 points to an active expansion pipeline, but no specific order book details are provided.

See what Gujarat Energy Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Gujarat Gas plans a CAPEX of ₹1,000 to ₹1,200 crore per annum for the next three years, funded mainly through internal accruals.
CAPEX split is roughly equal among new Geographical Areas (GAs), existing GAs, and CNG infrastructure.
Investments include augmenting infrastructure, adding capacity, converting daughter boosters, and adding 60-70 new CNG stations mostly in Ahmedabad rural area.
No immediate new investments planned in LNG infrastructure, but the company keeps evaluating long-term and short-term LNG sourcing options.
Strategic investment includes acquiring around 7.87% equity stake in Mundra LNG terminal, helping with storage, loading, and distribution capabilities, supporting growth in gas demand.
Focus also on expanding CGD infrastructure aggressively in new and existing areas to capitalize on industrial and commercial gas demand.

Track Gujarat Energy Ltd — get its next earnings analysis in your feed

How does Gujarat Energy Ltd rank vs peers in Gas?

Pro feature

ThisGujarat Energy Ltd

Rev 3Mar 3

See where Gujarat Energy Ltd sits in GasSee which companies these are, and every other name in the sector.Open rankings

How does Gujarat Energy Ltd rank in Gas?

Compare Gujarat Energy Ltd against every Gas company (Q1 FY24) on revenue, margins and earnings-call signals.

View Gas leaderboard →

What Gujarat Energy Ltd's management said in earlier quarters

Others in Gas this season

IRM Energy Ltd (Q2 FY26)
Q2FY25 (Standalone): 12% increase (Rs. Key investor presentation takeaways from IRM Energy Ltd's Q2 FY26 investor presentation — and how it ranks against sector
Gujarat State Petronet Ltd (Q2 FY26)
Quarterly EBITDA:** ₹486 crore, up 3% year-on-year . Key investor presentation takeaways from Gujarat State Petronet Ltd's Q2 FY26 investor presentation — and h
Petronet LNG Ltd (Q2 FY26)
Petchem expansion capex around INR5,000 crores for FY '26, with major contracts awarded and work in full steam. Key concall takeaways from Petronet LNG's Q2…
Gujarat State Petronet Ltd (Q3 FY26)
EBITDA**: ₹592 crore for the quarter, up 52% year-on-year (YoY). Key investor presentation takeaways from Gujarat State Petronet Ltd's Q3 FY26 investor presenta

Compare:vs GAIL (India) Ltd vs Adani Total Gas Ltd vs Aegis Logistics Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Gujarat Energy Ltd Q1 FY24 Earnings Call Analysis

Revenue guidance

Fundraise plans

Capex plans

How does Gujarat Energy Ltd rank in Gas?

Continue your research

What Gujarat Energy Ltd's management said in earlier quarters

Others in Gas this season