Gujarat Energy Limited

BSE: GUJENERGY539336ISIN INE844O01030

Energy
LPG/CNG/PNG/LNG Supplier
BSE 500

Share price

₹221.40+2.00 (+0.91%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹444.20
52W low: ₹206.30
Off 52W high: -50.16%
1M return: -4.65%
3M return: -18.77%
6M return: -44.29%
1Y return: -45.62%
20D avg volume: 2,12,500
50 DMA: ₹235.46
200 DMA: ₹325.76

Key ratios Consolidated

Market cap: ₹20,772 Cr
Current price: ₹221.40
52W high / low: ₹444.20 / ₹206.30
Face value: ₹2.00
P/E: 12.18
P/B: 1.12
EPS (TTM): ₹18.18
Book value / share: ₹196.82
ROE: —
ROCE: 11.50%
Operating margin: —
Net margin: —
Debt / equity: 0.16
Net debt: ₹2,082 Cr
Interest cover: 10.16
Dividend yield: 4.02%
Dividend / share (TTM): ₹8.90
Payout: 48.95%
Cash conversion cycle: 18.3 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	9,771	6,002	3,865	3,979	4,065	4,289	4,333	3,949	4,615	4,294	4,084	3,991
	193.04	158.83	54.60	71.26	59.36	74.35	56.84	38.55	38.55	31.08	23.02	28.16
	9,964	6,161	3,920	4,050	4,125	4,363	4,389	3,987	4,653	4,325	4,107	4,019
	8,654	5,663	3,562	3,674	3,685	3,975	4,091	3,572	4,210	3,831	3,811	3,620
	7,274	5,400	2,865	2,983	3,002	3,253	3,430	2,947	3,590	3,183	3,225	3,055
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	74.64	101.66	49.92	48.05	49.54	43.78	46.55	50.11	48.86	48.13	48.08	50.71
	62.96	45.64	8.72	8.14	7.93	7.44	9.30	7.95	7.80	6.94	7.20	7.79
	200.65	223.60	135.22	134.28	131.43	128.58	129.43	129.54	123.09	121.20	120.07	117.92
	638.07	676.87	503.32	501.15	493.21	542.24	299.03	270.47	277.14	310.34	257.30	244.60
	1,310	498.43	357.98	376.09	439.87	387.84	298.56	415.22	443.30	494.02	296.43	399.07
	0.00	-146.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	55.69	0.00	0.00
	1,310	351.86	357.98	376.09	439.87	387.84	298.56	415.22	443.30	549.71	296.43	399.07
	329.71	221.72	92.40	96.92	113.10	100.66	78.62	108.29	113.52	140.17	76.09	102.91
	1,007	151.80	266.84	279.81	327.64	287.88	220.99	308.74	330.71	410.48	221.02	296.25
	10.67	3.75	3.88	4.06	4.76	4.18	3.21	4.48	4.80	5.96	3.21	4.30
Key metrics
	1,574	621.10	501.92	518.51	579.23	523.86	437.29	552.71	574.19	677.85	423.70	524.78
	16.10%	10.30%	13.00%	13.00%	14.20%	12.20%	10.10%	14.00%	12.40%	15.80%	10.40%	13.10%
	10.30%	2.50%	6.90%	7.00%	8.10%	6.70%	5.10%	7.80%	7.20%	9.60%	5.40%	7.40%
	—	1.80%	—	3.90%	—	4.10%	—	—	—	—	—	—
	140.40%	39.90%	-10.80%	0.80%	-11.90%	-0.10%	6.10%	-1.10%	—	—	—	—
	207.50%	-47.30%	20.70%	-9.40%	-0.90%	-29.90%	0.00%	4.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	23,618	24,425	17,185	16,293	17,306	16,787	10,042	10,526	7,962	6,339	5,238
	477.73	547.48	208.29	106.11	101.33	90.87	74.16	83.89	111.56	35.86	26.34
	24,096	24,972	17,393	16,399	17,407	16,878	10,116	10,610	8,074	6,375	5,264
	21,553	22,523	15,848	14,920	15,383	15,153	8,412	9,402	7,462	5,912	4,961
	18,521	19,186	13,220	12,555	13,276	13,444	6,991	7,882	6,084	4,679	3,838
	0.00	0.00	0.00	—	—	—	—	—	—	—	—
	274.27	297.65	189.30	198.88	195.58	190.88	177.49	175.36	159.98	139.01	128.21
	125.46	251.06	32.49	29.31	40.35	56.82	116.31	192.17	196.19	196.08	208.96
	693.75	898.95	510.64	474.30	428.26	384.91	340.84	317.98	288.01	—	257.33
	2,319	2,465	1,900	1,059	898.40	752.17	599.18	608.93	526.84	462.27	383.20
	2,543	2,449	1,545	1,479	2,025	1,725	1,705	1,208	612.00	463.02	303.34
	-146.57	-149.81	0.00	55.69	0.00	-11.90	0.00	0.00	-17.87	0.00	0.00
	2,396	2,300	1,545	1,535	2,025	1,714	1,705	1,208	594.13	463.02	303.34
	740.75	763.36	401.09	393.44	499.19	427.79	429.22	9.16	177.17	171.83	84.10
	1,706	1,678	1,148	1,144	1,528	1,287	1,278	1,199	418.45	291.19	220.59
	22.36	21.55	16.68	16.61	22.20	18.70	18.56	17.41	6.08	—	—
Key metrics
	3,215	3,450	2,088	2,038	2,493	2,155	2,162	1,718	1,078	659.10	769.63
	13.61%	14.10%	12.20%	12.50%	14.40%	12.80%	21.50%	16.30%	13.50%	10.40%	14.70%
	7.22%	6.90%	6.70%	7.00%	8.80%	7.70%	12.70%	11.40%	5.30%	4.60%	4.20%
	—	11.50%	16.30%	—	—	—	—	—	—	—	—
	41.97%	42.10%	5.50%	-5.90%	3.10%	67.20%	-4.60%	32.20%	25.60%	21.00%	—
	48.95%	46.10%	0.40%	-25.20%	18.70%	0.80%	6.60%	186.50%	43.70%	32.00%	—
	—	1,767	1,054	—	—	—	—	—	—	—	—
	—	1.62	1.57	—	—	—	—	—	—	—	—
	—	0.16	0.00	—	—	—	—	—	—	—	—
	—	2,082	-326.86	—	—	—	—	—	—	—	—
	—	18.3	7.7	—	—	—	—	—	—	—	—
Balance sheet
	—	27,546	12,651	—	—	—	—	—	—	—	—
	—	10,108	2,965	—	—	—	—	—	—	—	—
	—	978.36	326.86	—	—	—	—	—	—	—	—
	—	1,752	1,024	—	—	—	—	—	—	—	—
	—	1,122	61.86	—	—	—	—	—	—	—	—
	—	337.89	219.07	—	—	—	—	—	—	—	—
	—	13,060	7,656	—	—	—	—	—	—	—	—
	—	1,654	719.94	—	—	—	—	—	—	—	—
	—	5,420	2,964	—	—	—	—	—	—	—	—
	—	3,060	0.00	—	—	—	—	—	—	—	—
	—	145.61	0.00	—	—	—	—	—	—	—	—
	—	2,914	0.00	—	—	—	—	—	—	—	—
	—	18,858	8,490	—	—	—	—	—	—	—	—
Cash flow
	—	2,721	1,806	—	—	—	—	—	—	—	—
	—	-2,097	-1,921	—	—	—	—	—	—	—	—
	—	-417.37	-473.73	—	—	—	—	—	—	—	—
	—	953.43	751.73	—	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	9,670	5,976	3,865	3,979	4,065	4,289	4,333	3,949	4,615	4,294	4,084	3,991
	186.80	160.50	54.60	73.10	59.36	74.35	58.52	38.55	38.55	31.08	23.02	29.80
	9,857	6,136	3,920	4,052	4,125	4,363	4,391	3,987	4,653	4,325	4,107	4,021
	8,526	5,347	3,562	3,674	3,685	3,975	4,091	3,572	4,210	3,831	3,811	3,620
	7,347	5,236	2,865	2,983	3,002	3,253	3,430	2,947	3,590	3,183	3,225	3,055
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	62.82	84.04	49.92	48.05	49.54	43.78	46.55	50.11	48.86	48.13	48.08	50.71
	9.02	9.53	8.72	8.14	7.93	7.44	9.30	7.95	7.80	6.94	7.20	7.79
	142.07	144.39	135.22	134.28	131.43	128.58	129.43	129.54	123.09	121.20	120.07	117.92
	588.57	630.01	503.32	501.15	493.21	542.24	299.03	270.47	277.14	310.34	257.30	244.60
	1,331	789.05	357.98	377.93	439.87	387.84	300.24	415.22	443.30	494.02	296.43	400.71
	0.00	-62.98	0.00	0.00	0.00	0.00	—	—	—	55.69	—	—
	1,331	726.07	357.98	377.93	439.87	387.84	300.24	415.22	443.30	549.71	296.43	400.71
	333.11	205.49	92.40	96.92	113.10	100.66	78.62	108.29	113.52	140.17	76.09	102.91
	997.97	520.58	265.58	281.01	326.77	287.18	221.62	306.93	329.78	409.54	220.34	297.80
	10.64	5.55	3.86	4.08	4.75	4.17	3.22	4.46	4.79	5.95	3.20	4.33
Key metrics
	1,482	879.99	501.92	520.35	579.23	523.86	438.97	552.71	574.19	677.85	423.70	526.42
	15.30%	14.70%	13.00%	13.10%	14.20%	12.20%	10.10%	14.00%	12.40%	15.80%	10.40%	13.20%
	10.30%	8.70%	6.90%	7.10%	8.00%	6.70%	5.10%	7.80%	7.10%	9.50%	5.40%	7.50%
	—	3.90%	—	3.90%	—	4.10%	—	—	—	—	—	—
	137.90%	39.30%	-10.80%	0.80%	-11.90%	-0.10%	6.10%	-1.10%	—	—	—	—
	205.40%	81.30%	19.80%	-8.40%	-0.90%	-29.90%	0.60%	3.10%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	23,490	24,198	17,185	16,293	17,306	16,787	10,042	10,526	7,962	6,339	5,238
	475.00	620.89	209.97	107.75	101.27	90.74	74.03	83.66	111.28	35.68	26.32
	23,965	24,819	17,395	16,401	17,407	16,878	10,116	10,610	8,074	6,375	5,264
	21,109	21,664	15,848	14,920	15,383	15,153	8,412	9,402	7,462	5,912	4,961
	18,431	19,130	13,220	12,555	13,276	13,444	6,991	7,882	6,084	4,679	3,838
	0.00	0.00	0.00	—	—	—	—	—	—	—	—
	244.83	244.54	189.30	198.88	195.58	190.88	177.49	175.36	159.98	139.01	128.21
	35.41	38.24	32.49	29.31	40.35	56.82	116.31	192.17	196.19	196.08	208.96
	555.96	579.01	510.64	474.30	428.26	384.91	340.84	317.98	288.01	271.82	257.33
	2,223	2,220	1,900	1,059	898.40	752.17	599.18	608.93	526.84	462.27	383.19
	2,856	3,155	1,547	1,481	2,025	1,725	1,705	1,208	611.72	462.84	303.33
	-62.98	-66.22	0.00	55.69	—	-11.90	—	—	-17.87	—	—
	2,793	3,089	1,547	1,536	2,025	1,713	1,705	1,208	593.85	462.84	303.33
	727.92	790.10	401.09	393.44	499.18	427.77	429.20	14.46	176.82	171.48	83.83
	2,065	2,299	1,146	1,143	1,525	1,286	1,276	1,193	417.03	291.36	219.50
	24.13	24.50	16.64	16.60	22.16	18.68	18.53	17.33	6.06	—	—
Key metrics
	3,384	3,706	2,090	2,040	2,493	2,155	2,162	1,718	1,078	930.74	769.62
	14.41%	15.30%	12.20%	12.50%	14.40%	12.80%	21.50%	16.30%	13.50%	14.70%	14.70%
	8.79%	9.50%	6.70%	7.00%	8.80%	7.70%	12.70%	11.30%	5.20%	4.60%	4.20%
	—	16.60%	16.40%	—	—	—	—	—	—	—	—
	41.20%	40.80%	5.50%	-5.90%	3.10%	67.20%	-4.60%	32.20%	25.60%	21.00%	—
	80.76%	100.70%	0.20%	-25.10%	18.70%	0.80%	6.90%	186.10%	43.10%	32.70%	—
	—	1,582	1,054	—	—	—	—	—	—	—	—
	—	1.05	1.58	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	-856.11	-326.86	—	—	—	—	—	—	—	—
	—	15.5	7.7	—	—	—	—	—	—	—	—
Balance sheet
	—	23,396	12,615	—	—	—	—	—	—	—	—
	—	9,567	2,965	—	—	—	—	—	—	—	—
	—	856.11	326.86	—	—	—	—	—	—	—	—
	—	1,686	1,024	—	—	—	—	—	—	—	—
	—	990.13	61.86	—	—	—	—	—	—	—	—
	—	308.91	219.07	—	—	—	—	—	—	—	—
	—	8,228	7,656	—	—	—	—	—	—	—	—
	—	1,643	719.94	—	—	—	—	—	—	—	—
	—	4,545	2,964	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	18,517	8,454	—	—	—	—	—	—	—	—
Cash flow
	—	2,407	1,806	—	—	—	—	—	—	—	—
	—	-1,955	-1,921	—	—	—	—	—	—	—	—
	—	-268.13	-473.73	—	—	—	—	—	—	—	—
	—	825.90	751.73	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +11.82%
Sales CAGR 5Y: +19.23%
Profit CAGR 3Y: +14.64%
Profit CAGR 5Y: +12.50%
Sales YoY (TTM): +41.20%
Profit YoY (TTM): +80.76%

Consolidated

Sales CAGR 3Y: +12.17%
Sales CAGR 5Y: +19.45%
Profit CAGR 3Y: +3.15%
Profit CAGR 5Y: +5.60%
Sales YoY (TTM): +41.97%
Profit YoY (TTM): +48.95%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 38.94%

Quarter	September 2026	June 2026
Promoter %	38.94%	38.94%

Holder	Type	Holding	Previous	Change
Governor of Gujarat	Promoter	38.80%	38.80%	0.00%
GUJARAT STATE FERTILIZERS & CHEMICALS LIMITED	Public	5.08%	5.08%	0.00%
LICI ASM NON PAR	Public	4.47%	4.47%	0.00%
ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND	Public	4.16%	—	—
GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION	Public	3.54%	3.54%	0.00%
MIRAE ASSET AGGRESSIVE HYBRID FUND	Public	3.40%	3.79%	-0.39%
SBI LARGE & MIDCAP FUND	Public	3.07%	—	—
GUJARAT MARITIME BOARD	Public	3.04%	3.04%	0.00%
GUJARAT ALKALIES AND CHEMICALS LIMITED	Public	2.35%	2.35%	0.00%
GOVERNMENT PENSION FUND GLOBAL	Public	1.35%	1.43%	-0.08%
STATE BANK OF INDIA	Public	1.31%	1.31%	0.00%
LETKO BROSSEAU EMERGING MARKETS EQUITY FUND	Public	1.10%	—	—
GUJARAT STATE ENERGY GENERATION LIMITED	Promoter	0.14%	0.14%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
ADANI TOTAL GAS LIMITED	63,992	570.05	97.66	13.50%	+23.97% TTM	+2.60% TTM	-9.34%
PETRONET LNG LTD.	47,520	310.10	10.04	21.30%	-29.65% TTM	+26.31% TTM	+10.53%
Gujarat Energy Limited	21,082	221.40	12.18	11.50%	+41.97% TTM	+48.95% TTM	-45.62%
Indraprashtha Gas Ltd.	19,642	136.75	19.29	13.90%	+14.33% TTM	-37.64% TTM	-36.34%
Mahanagar Gas Limited	10,927	1,058.10	15.87	16.50%	+13.54% TTM	-32.59% TTM	-16.23%
GSPL Transmission Limited	3,461	112.30	—	—	—	—	—
Confidence Petroleum India Limited	2,113	63.17	15.14	9.90%	+72.45% TTM	+44.65% TTM	+53.03%
IRM ENERGY LIMITED	972	230.85	11.03	8.40%	+16.07% TTM	+109.84% TTM	-25.95%

Filings & corporate actions

Recent announcements

Appointment of EY as IR and Veritas Reputation as PR Agency1 Nov 2026 · Company Update / General
Intimation of Change in Senior Management Personnel - Cessation of Shri B N Patel, IAS as Executive Director on account of transfer as Director General, Sports Authority of Gujarat.28 Oct 2026 · Company Update / Cessation
Intimation of Schedule of Q2 FY 2026 - 27 Earnings Call27 Oct 2026 · Company Update / Analyst / Investor Meet
Press Release by the Company titled "Gujarat Energy Sets New Financial Benchmark - Highest Ever Dividend Paid to Government of Gujarat in a Single Financial Year."14 Oct 2026 · Company Update / Press Release / Media Release
Intimation for No Objection received from Stock Exchanges for Reclassification of Gujarat State Energy Generation Limited from Promoter to Public.14 Oct 2026 · Others
Initmation of ESG Ratings assigned by CRISIL ESG Ratings & Analytics Limited for FY 2026.9 Oct 2026 · Company Update / Credit Rating
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ICICI Prudential Mutual Fund8 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Certificate under Reg. 74(5) of the SEBI (DP) Regulations 2018 for the Quarter ended 30.09.20267 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper Clippings - 5th Notice to Shareholders for Special Window7 Oct 2026 · Company Update / Newspaper Publication
Intimation of Voting Results along with Scrutinizers Report1 Oct 2026 · AGM/EGM / AGM
Intimation of Voting Results along with Scrutinizers Report1 Oct 2026 · AGM/EGM / AGM
Proceedings of 14th Annual General Meeting of Gujarat Energy Limited held today at 3.00 P.M.29 Sep 2026 · AGM/EGM / AGM
Proceedings of 14th Annual General Meeting of Gujarat Energy Limited held today at 3.00 P.M.29 Sep 2026 · Company Update / Meeting Updates
GSPL Transmission Limited has received Final Listing and Trading Approval from BSE and NSE.29 Sep 2026 · Company Update / General
Trading Window Closure Intimation25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Gujarat Energy Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/11/2026 ,inter alia, to consider and approve Unaudited (Standalone & Consolidated) ....25 Sep 2026 · Board Meeting / Board Meeting
Appointment of M/s Dhirubhai Shah & Co. LLP as Statutory Auditors by C&AG for the FY 2026 - 2710 Sep 2026 · Company Update / Appointment of Statutory Auditor/s
Newspaper Clippings - Notice of 14th AGM and Information on Evoting7 Sep 2026 · Company Update / Newspaper Publication
Submission of BRSR Report for the FY 2025 - 265 Sep 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
14th AGM Notice and Annual Report 2025 - 265 Sep 2026 · AGM/EGM / AGM
Annual Report 2025 - 26 of Gujarat Energy Limited5 Sep 2026 · Others / Reg. 34 (1) Annual Report
General Guidance Note for the Shareholders of the Company on apportionment of cost of acquisiton of Equity Shares of the Company and Resulting Company.5 Sep 2026 · Company Update / General
Change in Senior Management Personnel29 Aug 2026 · Company Update / Change in Management
Newspaper Clippings - Notice to Shareholders for the 14th AGM and related information29 Aug 2026 · Company Update / Newspaper Publication
Intimation for distribution of sale proceeds attributable to Fractional Entitlements under the Scheme of Arrangement27 Aug 2026 · Company Update / General
Intimation of date of 14th Annual General Meeting of Shareholders of the Company at related information27 Aug 2026 · Corp Action / Dividend Updates
Intimation for Date of payment of Dividend, if declared in the ensuing Annual General Meeting of Shareholders scheduled on 29th September, 2026 at 3.00 P.M.27 Aug 2026 · Corp Action / Date of payment of Dividend
The Company has fixed Friday, 11th September, 2026 as Record Date for the purpose of Dividend proposed to be declared in the 14th AGM.27 Aug 2026 · Corp. Action / Record Date
14th AGM is scheduled on 29th September, 2026 at 3.00 P.M. through VC/OAVM mode.27 Aug 2026 · AGM/EGM / AGM
Press Release issued by Care Ratings Limited20 Aug 2026 · Company Update / Credit Rating
Communication sent to the shareholders of the Company on TDS on Dividend Income.19 Aug 2026 · Company Update / General
KYC Updation Communication to Physical Shareholders19 Aug 2026 · Company Update / General
Q1 FY 27 - Post Results Earnings Call Transcript17 Aug 2026 · Company Update / Earnings Call Transcript
Intimation of Application submitted to Stock Exchanges for their Approval13 Aug 2026 · Company Update / General
Intimation for participation of Officials of the Company in the Investors Conference organized by Goldman Sach (India) Securities Pvt. Ltd.13 Aug 2026 · Company Update / Analyst / Investor Meet
Newspaper Clippings13 Aug 2026 · Company Update / Newspaper Publication
Post Results Earnings Call - Audio Recording Link12 Aug 2026 · Company Update / Analyst / Investor Meet
Newspaper Clippings - 4th Notice for Special Window12 Aug 2026 · Company Update / Newspaper Publication
Investor Presentation - Q1 FY 2712 Aug 2026 · Company Update / Investor Presentation
Credit Rating11 Aug 2026 · Company Update / Credit Rating

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 8.9000	11 Sep 2026	11 Sep 2026	—
Spin Off	2 Jul 2026	2 Jul 2026	—
Final Dividend - Rs. - 5.8200	4 Sep 2025	5 Sep 2025	—
Final Dividend - Rs. - 5.6600	9 Sep 2024	9 Sep 2024	—

Board meetings

5 Nov 2026 Board Meeting - Financial Results
11 Aug 2026 Board Meeting - Financial Results