Integrated Filing — IndAS



General information about company

Scrip Code 539336
NSE Symbol GUJGASLTD
MSEI Symbol NOTLISTED
ISIN INE844O01030
Name of company Gujarat Gas Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 10-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 04-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Natural Gas
Start date and time of board meeting 10-11-2025   16:00:00
End date and time of board meeting 10-11-2025   17:45:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 3,97,892.00 8,04,433.00
Other income 7,126.00 13,062.00
Total income 4,05,018.00 8,17,495.00
2 Expenses
(a) Cost of materials consumed 2,98,284.00 5,98,505.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (37.00) 21.00
(d) Employee benefit expense 4,805.00 9,759.00
(e) Finance costs 814.00 1,607.00
(f) Depreciation, depletion and amortisation expense 13,428.00 26,571.00
(f) Other Expenses
1 Excise duty expense 19,852.00 39,304.00
2 Other expenses 30,263.00 60,132.00
Total other expenses 50,115.00 99,436.00
Total expenses 3,67,409.00 7,35,899.00
3 Total profit before exceptional items and tax 37,609.00 81,596.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 37,609.00 81,596.00
6 Tax expense
7 Current tax 8,878.00 19,200.00
8 Deferred tax 814.00 1,802.00
9 Total tax expenses 9,692.00 21,002.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 27,917.00 60,594.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 64.00 151.00
16 Total profit (loss) for period 27,981.00 60,745.00
17 Other comprehensive income net of taxes 64.00 199.00
18 Total Comprehensive Income for the period 28,045.00 60,944.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 13,768.00 13,768.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.06 8.82
Diluted earnings (loss) per share from continuing operations 4.06 8.82
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.06 8.82
Diluted earnings (loss) per share from continuing and discontinued operations 4.06 8.82
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes to Consolidated Financial Result 1 The above financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 10th November, 2025 at Gandhinagar, Gujarat. 2 These financial statements have been prepared in accordance with the Indian Accounting Standards Ind AS notified under section 133 of the Companies Act, 2013, read together with the Companies Indian Accounting Standards Ind AS Rules issued thereafter and the provisions of the Companies Act 2013, as applicable and guidelines issued by the Securities and Exchange Board of India SEBI and other recognised accounting principles and policies generally accepted in India to the extent possible. These financial results are presented in accordance with the requirements of Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 read with other relevant rules and circulars issued thereunder. 3 The statutory auditors of the Company have carried out limited review of the financial results for the quarter and half year ended on 30th September 2025 in pursuance to regulation 33ci of the SEBI Listing obligations and Disclosure Requirements Regulations, 2015 read with other relevant rules and circulars issued thereunder. The statutory auditors have issued an unmodified review report. 4 The Company primarily operates in the segment of Natural Gas Business. Accordingly, disclosures under Indian Accounting Standards Ind AS 108 on operating segments are not applicable to the Company. 5 The Board of Directors of the Company at its meeting held on 30th August 2024, have approved a Composite Scheme of Amalgamation and Arrangement among Gujarat State Petroleum Corporation Limited GSPC Transferor Company 1, Gujarat State Petronet Limited GSPL Transferor Company 2, GSPC Energy Limited GEL Transferor Company 3, Gujarat Gas Limited Company GGL Transferee Company Demerged Company and GSPL Transmission Limited GTL Resulting Company and their respective Shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and rules made thereunder Scheme. The Scheme, inter alia, provides for 1. Amalgamation of GSPC, GSPL and GEL with GGL with appointed date as 1st April, 2024 2. Post the amalgamation, demerger of Gas Transmission Business Undertaking into GTL with appointed date as 1st April, 2025 and 3. Various other matters consequential or otherwise integrally connected therewith. The Company and Transferor Company 2 have received No Objection from BSE Limited and National Stock Exchange of India Limited on 4th and 5th February, 2025 respectively. Transferor Companies, Transferee Company and Resulting Company had filed Joint Company Application with Honble Ministry of Corporate Affairs Honble MCA on 12th February, 2025 for seeking necessary directions. The Honble MCA vide its Order dated 10th September, 2025 had, inter alia, directed to convene Meeting of Equity Shareholders of GSPC, GSPL and GGL. Pursuant to directions of Honble MCA, the Meeting of Equity Shareholders of GSPC, GSPL and GGL were held on 17th October, 2025 and the Scheme was approved by the Equity Shareholders of GSPC, GSPL and GGL with requisite majority. The Scheme is, inter alia, subject to sanction of the Honble MCA and receipt of necessary approvals from statutory and regulatory authorities. 6 The Consolidated Financial Statements of the Company includes the results of the following entities for the quarter ended on 30th September 2025 i Gujarat Gas Limited – Company ii Guj Info Petro Limited – Associate Company Investment in associate has been accounted for using Equity Method in accordance with Ind AS 28 Investments in Associates and Joint Ventures. 7 Previous period figures have been reclassified regrouped wherever considered necessary to conform to the current period figures.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 7,67,944.00
Capital work-in-progress 83,238.00
Investment property 1,203.00
Goodwill 0.00
Other intangible assets 54,207.00
Intangible assets under development 1,663.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 3,568.00
Non-current financial assets
Non-current investments 13,560.00
Trade receivables, non-current 0.00
Loans, non-current 103.00
Other non-current financial assets 9,765.00
Total non-current financial assets 23,428.00
Deferred tax assets (net) 0.00
Other non-current assets 38,310.00
Total non-current assets 9,73,561.00
2 Current assets
Inventories 6,084.00
Current financial asset
Current investments 0.00
Trade receivables, current 95,456.00
Cash and cash equivalents 34,504.00
Bank balance other than cash and cash equivalents 44,427.00
Loans, current 182.00
Other current financial assets 1,65,736.00
Total current financial assets 3,40,305.00
Current tax assets (net) 0.00
Other current assets 17,051.00
Total current assets 3,63,440.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 13,37,001.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 13,768.00
Other equity 8,56,074.00
Total equity attributable to owners of parent 8,69,842.00
Non controlling interest 0.00
Total equity 8,69,842.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 11,640.00
Total non-current financial liabilities 11,640.00
Provisions, non-current 4,647.00
Deferred tax liabilities (net) 97,758.00
Deferred government grants, Non-current 0.00
Other non-current liabilities 7,591.00
Total non-current liabilities 1,21,636.00
Current liabilities
Current financial liabilities
Borrowings, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 9,093.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 55,698.00
Total Trade payable 64,791.00
Other current financial liabilities 2,41,827.00
Total current financial liabilities 3,06,618.00
Other current liabilities 24,645.00
Provisions, current 3,137.00
Current tax liabilities (Net) 11,123.00
Deferred government grants, Current 0.00
Total current liabilities 3,45,523.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 4,67,159.00
Total equity and liabilites 13,37,001.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement gains on defined employee benefit plans 7800000 26600000
2 Remeasurement gains on defined employee benefit plans - Equity accounted investee 600000 0
Total Amount of items that will not be reclassified to profit and loss 84.00 266.00
2 Income tax relating to items that will not be reclassified to profit or loss 20.00 67.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 64.00 199.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 81,596.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1,607.00
Adjustments for decrease (increase) in inventories 102.00
Adjustments for decrease (increase) in trade receivables, current 6,759.00
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 3,957.00
Adjustments for decrease (increase) in other non-current assets (1,963.00)
Adjustments for other financial assets, non-current 316.00
Adjustments for other financial assets, current 706.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (6,766.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 4,677.00
Adjustments for increase (decrease) in other non-current liabilities (8.00)
Adjustments for depreciation and amortisation expense 26,571.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 611.00
Adjustments for provisions, non-current (64.00)
Adjustments for other financial liabilities, current 3,943.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 10,663.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 177.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (333.00)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 29,629.00
Net cash flows from (used in) operations 1,11,225.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 9,158.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,02,067.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 23.00
Purchase of property, plant and equipment 29,032.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 184.00
Interest received 7,292.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (73,719.00)
Net cash flows from (used in) investing activities (95,252.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 0.00
Payments of lease liabilities 2,572.00
Dividends paid 7.00
Interest paid 2,418.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (4,997.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 1,818.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 1,818.00
Cash and cash equivalents cash flow statement at beginning of period 32,686.00
Cash and cash equivalents cash flow statement at end of period 34,504.00