5393362026-04-012026-06-305393362026-06-305393362026-04-012026-06-30in-capmkt:OtherExpenses1Member5393362026-04-012026-06-30in-capmkt:OtherExpenses2Member5393362026-04-012026-06-30in-capmkt:OtherExpenses3Member5393362026-04-012026-06-30in-capmkt:ReportableSegments1Member5393362026-04-012026-06-30in-capmkt:ReportableSegments2Member5393362026-04-012026-06-30in-capmkt:ReportableSegments3Member5393362026-04-012026-06-30in-capmkt:ReportableSegments4Member5393362026-04-012026-06-30in-capmkt:ReportableSegments1Member5393362026-04-012026-06-30in-capmkt:ReportableSegments2Member5393362026-04-012026-06-30in-capmkt:ReportableSegments3Member5393362026-04-012026-06-30in-capmkt:ReportableSegments4Member5393362026-04-012026-06-30in-capmkt:ReportableSegments1Member5393362026-06-30in-capmkt:ReportableSegments1Member5393362026-04-012026-06-30in-capmkt:ReportableSegments2Member5393362026-06-30in-capmkt:ReportableSegments2Member5393362026-04-012026-06-30in-capmkt:ReportableSegments3Member5393362026-06-30in-capmkt:ReportableSegments3Member5393362026-04-012026-06-30in-capmkt:ReportableSegments4Member5393362026-06-30in-capmkt:ReportableSegments4Member5393362026-04-012026-06-30in-capmkt:ReportableSegments1Member5393362026-06-30in-capmkt:ReportableSegments1Member5393362026-04-012026-06-30in-capmkt:ReportableSegments2Member5393362026-06-30in-capmkt:ReportableSegments2Member5393362026-04-012026-06-30in-capmkt:ReportableSegments3Member5393362026-06-30in-capmkt:ReportableSegments3Member5393362026-04-012026-06-30in-capmkt:ReportableSegments4Member5393362026-06-30in-capmkt:ReportableSegments4Member5393362026-04-012026-06-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15393362026-04-012026-06-30ItemsThatWillNotBeReclassifiedToProfitAndLoss2iso4217:INRiso4217:INRxbrli:shares539336GUJGASLTDNOTLISTEDINE844O01030Gujarat Energy LimitedMain BoardEquity2026-04-012027-03-312026-08-112026-07-20INRCroresQuarterlyFirst quarterMulti segment2026-08-1115:00:002026-08-1116:45:00Not applicablefalsefalseNot Applicable as the Company don't have any default on loans and debt securities outstanding as on June <br /> 30,2026.2026-04-012026-06-30UnauditedStandalone96702600000186800000098570600000734742000000376080000062820000090200000142070000058857000008525980000013310800000013310800000398900000293220000033311000000997970000000009979700000130400000101101000001876400000210.6410.640010.6410.64Notes to Standalone Financial Result: <br /> 1 The aforesaid financial results of Gujarat Energy Limited GEL or the Company for the quarter ended on 30th June 2026 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 11th August, 2026 at Gandhinagar, Gujarat. <br /> 2 These financial results 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. <br /> 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. <br /> <br /> The statutory auditors of the Company have carried out limited review of the financial results for the quarter ended on 30th June 2026 in pursuance to regulation 33 c i 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. <br /> 3 The Honble Ministry of Corporate Affairs, New Delhi Honble MCA vide final order dated 8th April 2026 Order or Honble MCA Order received by the Company on 17th April, 2026 sanctioned the Composite Scheme of Amalgamation and Arrangement the Scheme , as approved by the Board of Directors of the Company at its meeting held on 30th August 2024, 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 Energy Limited formerly known as Gujarat Gas Limited CompanyGGLTransferee CompanyDemerged Company and GSPL Transmission Limited GTLResulting Company and their respective Shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and rules made thereunder the Scheme . The Scheme inter alia provides for i amalgamation of GSPC, GSPL and GEL with GGL with appointed date as 1st April, 2024 and ii post amalgamation, demerger of Gas Transmission Business Undertaking - GTBU into GTL with appointed date as 1st April, 2025. <br /> <br /> The Effective Date of the Scheme is 1st May 2026 i.e. the date of filing of certified copy of aforesaid Honble MCA Order, along with a copy of the Scheme, with the Registrar of Companies, Ahmedabad. <br /> <br /> As per the Scheme of Amalgamation and Arrangement, the Companys name has been changed from Gujarat Gas Limited formerly known as GSPC Distribution Networks Limited-GDNL to Gujarat Energy Limited Gujarat Energy from 14th May, 2026 on receipt of approval from Registrar of Companies RoC . <br /> <br /> The amalgamation, being common control business combination, had been accounted using pooling of interest method as prescribed in Appendix C ‘Business combinations of entities under common control’ of Ind AS 103 Business Combination in the standalone financial results for the quarter and year ended 31 March 2026 and the comparative financial information for the quarter had been restated with effect from first day of earlier period presented i.e. 1st April 2024. The Company had recorded all the asset, liabilities and reserves, as appeared in the books of all the Transferor Companies GSPC, GSPL and GEL , at their respective carrying amounts book value as appearing in the books of the Transferor Companies. All inter company balances including value of investments had been cancelled. <br /> Considering the above, the Company had recognised capital reserve on business combination in Other Equity as on Appointed date i.e. 1st April 2024. The resultant difference amounting to Rs. 2,427.68 Crores between the book value of assets, liabilities and reserves taken-over as on the appointed date and new shares to be issued to the shareholders of the the Transferor Companies is transferred debited to Capital Reserve on Business Combination in accordance with the Scheme and Ind AS 103 Business Combination. <br /> <br /> Pursuant to the Scheme, 62,27,14,719 equity shares of Rs 2 each shall be issued at face value to the shareholders of Transferor Companies for transfer of the assets and liabilities as on the appointed date. The Board of Directors of Gujarat Energy Limited, on 16th May, 2026, have approved the allotment of 62,27,14,719 Equity Shares of Rs 2 each of the Company to the shareholders of GSPC Transferor Company 1 i.e. 35,20,17,714 Equity Shares and GSPL Transferor Company 2 i.e. 27,06,97,005 Equity Shares whose names were recorded in the Register of Members as on the Record Date i.e. 12th May, 2026. <br /> 4 Furtherance to Note 3, as per the Scheme, as on Demerger Appointed Date i.e 1st April 2025, the Company had transferred assets, liabilities and reserves pertaining to GTBU to Resulting Company at their respective book values and hence, the Company derecognised the carrying value of the assets, liabilities and reserves pertaining to GTBU as on Demerger Appointed Date i.e. 1 April 2025. The resulting difference amounting to Rs 6,399.98 Crores arising between the carrying value of assets, liabilities and reserves is recognised in the retained earnings of the Company as on Demerger Appointed Date i.e. 1st April 2025 as set out in the Scheme. <br /> Pursuant to the Scheme, inter-alia, provided for demerger, transfer and vesting of the Gas Transmission Business Undertaking - GTBU from the Company into the Resulting company i.e. GSPL Transmission Limited GTL on a going concern basis from 1st April 2025, the appointed date. Subsequently on 8th July 2026, the Board of Directors of GTL have approved the allotment of 31,27,43,617 equity shares of the Resulting Company GTL of Rs 10- each fully paid up to shareholders of the Company GGL as on the Record Date i.e., 2nd July, 2026, in the ratio of 1 One equity shares of Resulting Company GTL of Rs 10 each fully paid up for every 3 Three equity shares of the Company GGL of Rs 2 each fully paid up, pursuant to the Scheme. <br /> 5 The Company operates in the business of Exploration & production of Oil & Gas E&P , Gas trading, Power generation and City Gas Distribution and the same are reportable business segments as per Ind AS 108 Segment Reporting. <br /> 6 The Financial Results of the joint operations unincorporated joint ventures are prepared in accordance with the requirements prescribed by the respective Production Sharing Contracts or Joint Operating Agreement of the joint operations unincorporated joint ventures . In view of the same, certain adjustmentsdisclosures required under the mandatory Indian Accounting Standards and the provisions of the Companies Act, 2013 have been made in the Standalone Financial Results to the extent information available with the Company as on the date. <br /> 7 The Company erstwhile Gujarat State Petroleum Corporation Limited – erstwhile GSPC has issued forfeiture notice to Jubilant Offshore Drilling Pvt Ltd JODPL against the capital contribution of Rs 494.81 crore made on behalf of JODPL in KG-OSN-20013 until 4th August, 2017. Based on the relevant clauses of the Profit-Sharing Contract PSC and Joint Operating Agreement JOA , it is reasonably expected by the Management that the forfeiture notice will be enforced and the Gujarat Energy Ltd. pertaining to erstwhile Gujarat State Petroleum Corporation Limited – erstwhile GSPC will be assigned a commensurate Participating Interest PI against the capital contribution. Further, both JOA & PSC provide that such contractual rights of erstwhile GSPC have primacy over the right of other lenders of JODPL. JODPL has filed for CIRP and basis the same, NCLT had passed the order for liquidation. In January 2018, the Company intimated to the Liquidator that the entire PI of JODPL cannot form part of liquidation estate of JODPL in the light of superior contractual rights having already been exercised by the Company. While, in June 2019, Liquidator had challenged the Company’s letter of forfeiture of JODPL’s PI, NCLT has dismissed such challenge of the Liquidator. The Liquidator has preferred an appeal before NCLAT against Order of NCLT. Additionally, the assignment of JODPLs PI is pending with the Management Committee MC of the Government of India and as the non-defaulting partner with a 10 percent PI in the block, the Company will be required to contribute against the cash call receivables from JODPL in future as well, as per the terms of the JOA. <br /> JODPL has also defaulted on cash calls raised by Oil & Natural Gas Corporation Ltd. ONGC after August 4, 2017. As per the JOA, the Company being the non-defaulting partner is required to contribute to the defaulted cash calls of JODPL. Such contribution made by GSPC on behalf of JODPL is secured by various provisions of the JOA and PSC for the KG Block which provide that GSPC has right of lien as well as forfeiture over JODPL’s share of revenues and PI. <br /> The Company had decided to provide for the entire amount of cash calls of Rs 527.00 Crores receivable from Ms Jubilant Offshore Drilling Pvt. Ltd. JODPL as their is no future certainty of any receipt from the same. Accordingly, the Company had provided for Rs 527.00 crores considering the impairment carried out with respect to the Company’s own share of the KG Block assets till the financial year 2025-26. <br /> 8 The Company has considered the following major items as contingent liabilities as on 30th June 2026: <br /> 1 Disputed Income Tax demandsclaims by the Income Tax Authority amounting to Rs 1686.91 Crores and <br /> 2 In relation to a Request for Proposal for Supply of Natural Gas from its RJ ON 901 Field for the period of April 1 2023 to March 31, 2024, Vedanta Limited had provisionally allocated certain quantities of natural gas to the Company erstwhile Gujarat State Petroleum Corporation Limited in response to bids submitted by the Company erstwhile Gujarat State Petroleum Corporation Limited . While the RFP required execution of a definitive Gas Sales Agreement, the Company erstwhile Gujarat State Petroleum Corporation Limited has not executed the definitive GSA. The Company erstwhile Gujarat State Petroleum Corporation Limited has also denied any obligation to offtake gas pursuant to the RFPDraft GSA. Vedanta Limited invoked Arbitration Proceedings against the Company erstwhile Gujarat State Petroleum Corporation Limited in August 2023 in response to which the Company erstwhile Gujarat State Petroleum Corporation Limited has disputed existence of Arbitration Agreement between the Parties. The matter is pending before Delhi HC on the issue of appointment of a substitute arbitrator on behalf of the Company erstwhile Gujarat State Petroleum Corporation Limited . As per statement made by Vedanta before Supreme Court in an SLP filed by it, Vedanta has averred claims of over Rs 1200 Crores against the Company erstwhile Gujarat State Petroleum Corporation Limited in arbitration proceedings which are yet to be commenced. The Company erstwhile Gujarat State Petroleum Corporation Limited has denied the claims as well as existence of arbitration agreement itself. <br /> 9 The Company is in the process of harmonizing employee compensation, leave, retirement benefits and other HR policies following the merger. The financial impact, if any, arising on account of such compensation structure and policy alignment is being evaluated and the same will be recognized in accordance with applicable India Accounting Standards as and when the obligations become measurable and ascertainable. <br /> 10 The figures for quarter ended 30th June 2025 have been restated pursuant to the approval of the Hon’ble MCA of the Scheme of Amalgamation and Arrangement and comparision with the previously reported figures is as under: <br /> Sr. No. Particulars Quarter ended <br /> 30th June 2025 <br /> Reported Restated <br /> a Total Income 4,124.77 6,049.54 <br /> b Total Expenses 3,684.90 5,304.00 <br /> c Profit Before Tax 439.87 745.54 <br /> d Tax Expenses 113.10 184.46 <br /> e Profit After Tax 326.77 561.08 <br /> f Total Comprehensive Income after tax 328.18 576.13 <br /> g Earning Per Share 4.75 5.98 <br /> Production expenditure202100000Excise duty expense2264000000Other expenses3419600000E & P306000000Gas Trading71335100000Power238500000City Gas Distribution772908000001491704000005246780000096702600000E & P-23700000Gas Trading7263200000Power155700000City Gas Distribution4397900000117931000000-151770000013310800000E & P6618900000Gas Trading15967700000Power1183300000City Gas Distribution115188500000138958400000114738700000253697100000E & P4437300000Gas Trading16646300000Power206400000City Gas Distribution3439590000055685900000272980000058415700000E&P:- Exploration and production- Oil and gasChanges in Fair Value of FVOCI Equity Instrument146900000Remeasurements of Post - Employment Benefit Obligation6000000152900000225000000130400000