Gujarat Energy Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Gujarat Energy Ltd filed with BSE on 17 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Gujarat Energy Limited reported Q1 FY27 revenue from operations of INR9,670 crores, up 63% year-on-year, with EBITDA of INR1,482 crores and profit after tax of INR998 crores. The Gas Trading segment saw earnings before tax rise to INR726 crores from INR237 crores a year earlier, while CNG volumes grew 13% and PNG Industrial volumes rose 64%, driven substantially by supply to the Morbi ceramic cluster during a period of constrained propane availability. Management also discussed post-merger integration, capex plans, and the pending listing of GSPL Transmission Limited.
Numbers mentioned
Revenue from operations: INR9,670 crores (Q1 FY27)
p. 5
“For Q1 FY27, we reported revenue from operations of INR9,670 crores compared to INR5,924 crores in Q1 FY26, representing a year-on-year growth of 63%.”
Avantika Singh Aulakh, page 5 of the filed PDF · View the filing
EBITDA: INR1,482 crores (Q1 FY27)
p. 5
“EBITDA stood at INR1,482 crores compared to INR896 crores in Q1 FY26, reflecting a growth of 65%.”
Avantika Singh Aulakh, page 5 of the filed PDF · View the filing
Profit after tax: INR998 crores (Q1 FY27)
p. 5
“Profit after tax stood at INR998 crores compared to INR561 crores in Q1 FY26, registering a growth of 78%.”
Avantika Singh Aulakh, page 5 of the filed PDF · View the filing
Gas Trading segment earnings before tax: INR726 crores (Q1 FY27)
p. 3
“The Gas Trading segment delivered strong profitability with earnings before tax increasing to INR726 crores in this quarter as against INR237 crores in the previous year same quarter, reflecting a growth of 206%.”
Avantika Singh Aulakh, page 3 of the filed PDF · View the filing
CNG volume: 3.76 mmscmd (Q1 FY27)
p. 3
“In the CNG segment, we achieved a new benchmark with CNG volume of 3.76 mmscmd during this quarter compared to 3.33 mmscmd in the previous year same quarter, registering a growth of 13%.”
Avantika Singh Aulakh, page 3 of the filed PDF · View the filing
PNG Industrial sales volume: 7.17 mmscmd (Q1 FY27)
p. 4
“Industrial sales volumes increased to 7.17 mmscmd in Q1 FY27 from 4.71 mmscmd in Q1 FY26, registering a growth of 64%.”
Avantika Singh Aulakh, page 4 of the filed PDF · View the filing
Overall sales volume: 15.66 mmscmd (Q1 FY27)
p. 5
“On the volume front, our overall sales volume stood at 15.66 mmscmd.”
Avantika Singh Aulakh, page 5 of the filed PDF · View the filing
CGD infrastructure investment: INR127 crores (Q1 FY27)
p. 5
“During the quarter, the company invested INR127 crores in CGD infrastructure.”
Avantika Singh Aulakh, page 5 of the filed PDF · View the filing
Cash on balance sheet: INR7,200 crores (as of Q1 FY27)
p. 15
“Yes, we have cash of around INR7,200 crores, so we have a capex plan of around INR1,000 crores for the CGD business.”
Management, page 15 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
New CNG stations — more than 75 new CNG stations · current financial year
stated firmly by Avantika Singh Aulakh
p. 4
“I would like to draw your attention to the fact that the company is now planning to add more than 75 new CNG stations and upgrade approximately 70 CNG stations during the current financial year.”
Avantika Singh Aulakh, page 4 of the filed PDF · View the filing
Cash deployment plan — Q3
stated firmly by Management
p. 15
“So on a concrete plan, we will be coming in maybe in the Q3 -- by Q3, we'll be having a concrete plan of how that deployment of the cash will happen.”
Management, page 15 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said Morbi gas run rate has fallen to around 3 mmscmd with propane supplying the rest, and gave the respective per-scm pricing.
Answered by Management
Asked by Probal Sen: What was the current Morbi run rate and the relative pricing of gas versus propane after propane availability improved?
p. 6
“Ours is close to 78 Rs/scm and propane is close to 65 Rs/scm.”
Management, page 6 of the filed PDF · View the filing
Management expects gas to remain at a premium to propane and volumes to stabilize around 3 mmscmd for the quarter.
Answered by Management
Asked by Amit Murarka: With propane supply improving from the US, what is the outlook for Morbi gas volumes staying elevated?
p. 7
“Well, currently, that is what it seems to be the case because spot prices being close to $20 and propane pricing being what it is right now.”
Management, page 7 of the filed PDF · View the filing
Management attributed the margin to favorable timing of sourcing linked to dated Brent contracts and said there would be no reversal to negative numbers.
Answered by Management
Asked by Bineet Banka: Why was the gas trading margin unusually high this quarter, and is there a chance of reversal next quarter?
p. 9
“I think we have sourced the gas at an appropriate time with respect to the margins which we have earned and we had long-term agreements which were there linked on Brent.”
Management, page 9 of the filed PDF · View the filing
Management said infrastructure development in areas like DNH, Ahmedabad rural, Dahej, Kutch and Thane should drive volumes toward 3 mmscmd over 1.5-2 years.
Answered by Management
Asked by Nitin Tiwari: What is the roadmap for growing non-Morbi industrial sales, which have stayed low?
p. 10
“Currently, we are doing more than -- approximately 2 mmscmd, 2.2 mmscmd other than Morbi, but we have certain promising regions like DNH, Ahmedabad rural, Dahej, Kutch and Thane, we expect much more volume.”
Management, page 10 of the filed PDF · View the filing
Management explained that geopolitical shocks kept shifting the timeline for reasonably priced gas, but they have signed several term contracts and are pursuing more for 2028 onward.
Answered by Management
Asked by Mayank Maheshwari: What has kept the company from signing more long-term gas supply contracts despite repeated geopolitical shocks?
p. 12
“So because of the geopolitical shocks, the time line for reasonable price gas keeps on shifting.”
Management, page 12 of the filed PDF · View the filing
Management confirmed cash of about INR7,200 crores, with a concrete deployment plan expected by Q3.
Answered by Management
Asked by Deepak Malhotra: What is the current cash balance and how will it be deployed beyond the announced capex?
p. 15
“Yes, we have cash of around INR7,200 crores, so we have a capex plan of around INR1,000 crores for the CGD business.”
Management, page 15 of the filed PDF · View the filing
Management said the margin is assessed at the portfolio level rather than by segment such as Morbi specifically.
Answered by Management
Asked by Amit Murarka: Why did CGD EBITDA margin come in below the guided range this quarter?
p. 16
“see, we look at the portfolio. We don't look at each segment when you look at the EBITDA margin of the segment.”
Management, page 16 of the filed PDF · View the filing
Risks flagged
Geopolitical disruption in global energy markets affecting LNG sourcing
p. 3
“During the quarter, global energy markets witnessed significant disruption due to geopolitical developments and supply side constraints.”
Avantika Singh Aulakh, page 3 of the filed PDF · View the filing
Ongoing uncertainty in global energy markets due to geopolitical developments
p. 5
“Looking ahead, global energy markets are likely to remain uncertain due to continuing geopolitical developments.”
Avantika Singh Aulakh, page 5 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.