Please find enclosed Un-audited Financial Results (Standalone & Consolidated) for the Quarter and Nine months ended on 31.12.2025.
Awaiting price reaction for this filing.
GSPL reported Q3 FY26 standalone revenue from operations of Rs 27,220 lakhs, up about 4.5% year-on-year, but standalone net profit fell to Rs 11,427 lakhs from Rs 13,558 lakhs, a decline of roughly 16% year-on-year. For the nine-month period, standalone revenue declined about 5% to Rs 83,016 lakhs and net profit dropped about 13% to Rs 63,922 lakhs. Consolidated revenue from operations fell to Rs 4,09,170 lakhs in Q3 (down ~10% YoY) and Rs 12,59,952 lakhs for 9M (down ~7% YoY), though consolidated Q3 net profit rose ~13% to Rs 37,905 lakhs. The company flagged that PNGRB's revised tariff (down to Rs 18.10/MMBTU from Rs 34/MMBTU) effective May 2024 is hurting transmission revenue. A pending FCCI arbitration has led to deposits and bank guarantees totalling around Rs 120 crore with the Gujarat High Court. The composite scheme of amalgamation with GSPC, GSPC Energy, Gujarat Gas and GSPL Transmission continues to await MCA sanction.
Short-term earnings are under pressure from the steep tariff cut by PNGRB and rising gas transmission costs, with standalone profits contracting despite stable topline; shareholders should watch for the final sanction of the restructuring scheme and resolution of the FCCI arbitration, both of which could materially reshape the business.