Gujarat Energy Ltd(GEL) on Thursday (November 5) reported a 35.9% quarter-on-quarter decline in net profit to ₹639.3 crore for the second quarter of FY27, compared with ₹998 crore in the previous quarter.
EBITDA fell 38.5% to ₹797.2 crore, while EBITDA margin contracted to 8.31% from 13.72%. Revenue, however, increased 1.5% to ₹9,590 crore from ₹9,444 crore in the June quarter.
The company’s board has approved the execution of long-term LNG sourcing agreements with international suppliers for approximately 0.8 million tonnes per annum (MTPA), with a tenure of up to 10 years. The agreements will be linked to Henry Hub and are aimed at securing a reliable supply of LNG.
The board has also approved the execution of a firm regasification agreement for LNG cargo slots at GSPC LNG Limited’s Mundra LNG terminal.
Operational performance
On the operational front, city gas operations (CGO) volumes increased 24% year-on-year to 10.7 million metric standard cubic metres per day (MMSCMD) in Q2 FY27. For the first half of FY27, volumes grew 31% year-on-year to 11.5 MMSCMD, supported by industrial demand and increased CNG penetration.
As of September 30, 2026, GEL had expanded its medium-pressure pipeline network to 43,148 km and its steel pipeline network to 3,542 km.
As part of our new business Initiatives, we have recentlyissued Expression of Interest (EOI), inviting franchisee partner for development of LNG Stations in identified locations to power long-haul transport as well as partners for setting up Compress Biogas (CBG) Plants (200 TPD capacity – 100 TPD in Gujarat and 100 TPD outside GujaraS . driving the transition to Sustainable and low carbon energy. As India moves towards a cleaner energy mix, weremain committed to investing in infrastructure, enhancing operational efficiency and leveraging emergingopportunities to drive sustainable growth and long-term stakeholder value.AVANTIKA SINGH, LAS, MANAGING DIRECTOR
Capex guidance
GEL incurred capital expenditure of ₹181 crore during Q2 FY27, taking the cumulative capex for the first half of the financial year to ₹308 crore. The company reiterated its capital expenditure guidance of ₹1,000 crore for FY27.
Gujarat Energy Ltd shares closed at ₹224.99 on November 5, 2026, up ₹3.80 or 1.72% ahead of earnings announcements.
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