Please find enclosed herewith the Un-Audited Financial Results (Standalone & Consolidated) for the Quarter and Nine months ended 31st December, 2025.
Awaiting price reaction for this filing.
The board approved GSPL's unaudited Q3 FY26 and 9M FY26 results on 22 January 2026, with auditors issuing an unmodified limited review report. On a standalone basis, revenue from operations fell about 4.9% year-on-year to Rs 83,015.54 lakhs for the nine months, while net profit declined roughly 13.3% to Rs 63,921.56 lakhs. On a consolidated basis, revenue from operations dropped about 7.3% to Rs 12,59,951.68 lakhs and net profit was Rs 1,23,292.48 lakhs (down around 4.1%). The revenue pressure largely reflects the PNGRB tariff cut from Rs 34 to Rs 18.10 per MMBTU effective May 2024. The composite scheme of amalgamation (GSPC, GSPL and GEL merging into GGL, with the gas transmission business demerged into GTL) was approved by shareholders in October 2025 and is now pending sanction from the Ministry of Corporate Affairs. An ongoing arbitration with FCCI remains sub-judice, with the company having deposited Rs 69.34 crore and furnished a Rs 50.61 crore bank guarantee.
Earnings continue to be weighed down by the lower regulated transmission tariff, keeping standalone margins under pressure even as consolidated profit stayed relatively stable. The pending composite restructuring could be a meaningful catalyst if it gets MCA clearance, as it would reshape the listed entity and consolidate the gas transmission business into GTL.