GUJARAT NATURAL RES L

Explores and produces oil and gas, and also trades commodities. Segment data for the period ending 31 March 2021 shows Oil & Gas product contributed 76.9% of segment revenue (₹6.23 crore, with an equal amount of operating profit), while Trading of goods contributed 23.1% (₹1.87 crore revenue, ₹0.21 crore operating profit); an Others line added no revenue but ₹1.07 crore of operating profit in that period. Consolidated FY26 revenue stood at ₹30.53 crore against a profit after tax of ₹9.89 crore and total assets of ₹244.16 crore. The cost structure is dominated by other operating expenses at 33.5% of revenue and depreciation at 20.9%, with no materials cost reported, which is consistent with an exploration and production set-up rather than refining. Capital expenditure ran at 226% of revenue in FY26, indicating investment intensity far above the current revenue base. The company operates through subsidiaries including Heramec Oil & Gas (Singapore) Pte Ltd and GNRL Oil & Gas (I) Private Ltd, and in March 2026 shareholders approved adding commodities trading and real estate/construction to its objects clause. Recent quarterly results show a one-time purchase of stock-in-trade of ₹1,253.53 lakhs booked in Q3 FY26, reflecting scaling trading activity alongside oil and gas operations.