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Gujarat Energy Ltd (GUJENERGY)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539336 NSE: GUJENERGY Gas Transmission/Marketing | Small Cap | Gujarat Energy Share Price

₹241.50 -13.25 (-5.20%)

As on 11-Sep'26 15:13

Gujarat Energy Ltd (GUJENERGY)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539336 NSE: GUJENERGY Gas Transmission/Marketing | Small Cap | Gujarat Energy Share Price

₹241.50 -13.25 (-5.20%)

As on 11-Sep'26 15:13

Key Metrics
Valuation Multiples
Market Cap
₹23,901 Cr.
Current Price
₹241.5
52-Week Low / High
₹247 / 452
TTM EPS
₹22
TTM Sales
₹23,490 Cr.
Book Value per Share
₹208
P/E Ratio
11.57
Lower than its 5-year historical median
Industry PE
17
Price to Book (P/B)
1.22
Lower than its 5-year historical median
Price to Sales (P/S)
1.02
Lower than its 5-year historical median
EV/EBITDA
6.62
Lower than its 5-year historical median
Dividend Yield
3.69%
Profitability Efficiency
Return on Equity (ROE)
11.08%
Underperforms industry median
Return on Capital Employed (ROCE)
15.10%
Underperforms industry median
Return on Assets (ROA)
8.98%
Operating Profit Margin
13.6%
Net Profit Margin
9.83%
Gross Profit Margin
15.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-13.44%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
2.2%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-33.99%
Asset Quality
Promoter Holding
38.94%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹19,327 Cr.
Equity
₹187.7 Cr.
Face Value
₹2
All Time Low / High
₹91.00 / 786.65

Gujarat Energy stock performance

Key Ratios
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Check Before You Invest

Valuation

Undervalued

Price Trend

Weak
Q.1 Is Gujarat Energy Ltd a good quality company?
Gujarat Energy Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Gujarat Energy Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Gujarat Energy Ltd vs industry peers?
Gujarat Energy Ltd revenue CAGR is 18.84%, compared to the industry median CAGR of 22.8%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Gujarat Energy Ltd?
Promoters hold 38.94% of the Gujarat Energy Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Gujarat Energy Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 7.3% based on the current price.

DeciZen - make an informed investing decision on Gujarat Energy

Decision Maker
Standalone basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Gujarat Energy Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 13.3%16.4%18.7%29.2%34.4%31.4%32%21.7%14.9%15.1%-
Value Creation
Index
0.00.20.41.22.11.81.80.90.30.3-

Growth Parameters

Sales 5,0936,1747,75410,3009,86616,45616,75915,69027,02023,38823,490
Sales YoY Gr.-21.2%25.6%32.8%-4.2%66.8%1.8%-6.4%72.2%-13.4%-
Adj EPS 3.34.36.217.418.518.822.216.1121.274.322
YoY Gr.-31%44.8%178%6.4%1.9%18%-27.6%654.4%-38.7%-
BVPS (₹) 23.926.831.747.864.681.3101.6111.7732.7583208
Adj Net
Profit
2262974301,1941,2711,2951,5281,1063,8232,3442,065
Cash Flow from Ops. 7017859641,4221,6591,6622,3781,6342,8112,407-
Debt/CF from Ops. 3.432.31.40.50.30000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 18.5%18.8%11.8%-13.4%
Adj EPS 41.4%32.1%49.6%-38.7%
BVPS42.6%55.3%79%-20.4%
Share Price 6.8% -18.7% -19.3% -44.8%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
14.41721.343.632.825.824.315.124.711.25.6
Op. Profit
Mgn %
1514.812.91621.312.814.512.111.613.612.7
Net Profit
Mgn %
4.44.85.511.612.97.99.17.114.2108.8
Debt to
Equity
1.41.310.60.20.10000-
Working Cap
Days
53494436443640426814157
Cash Conv.
Cycle
34757876101520

Valuation of Gujarat Energy - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales5,0936,1747,75410,3009,86616,45616,75915,69027,02023,388
Operating Expenses + 4,3405,2696,7588,6537,76514,35514,34113,79023,91020,210
Manufacturing Costs4575426668488281,0231,0701,3422,9882,737
Material Costs3,6144,4185,7347,3856,51812,85412,74811,92120,22316,789
Employee Cost 128139160175177191196199210245
Other Costs 141170198245241287327327489440
Operating Profit 7529059961,6472,1022,1012,4181,9013,1103,178
Operating Profit Margin (%) 14.8%14.7%12.8%16.0%21.3%12.8%14.4%12.1%11.5%13.6%
Other Income + 2636111847191101108599621
Exceptional Items 00-1800-12056-862-66
Interest 2182062082051348267547065
Depreciation 257272288318344385428474544579
Profit Before Tax 3034635941,2081,6951,7132,0251,5362,2323,089
Tax 8417117714427428499393-1,250790
Profit After Tax 2202914171,1931,2681,2861,5251,1433,4822,299
PAT Margin (%) 4.3%4.7%5.4%11.6%12.9%7.8%9.1%7.3%12.9%9.8%
Adjusted EPS (₹)3.24.26.117.318.418.722.216.6110.472.9
Dividend Payout Ratio (%)18.80%18.90%16.50%7.20%10.90%10.70%30%34.10%5.30%12.20%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,6451,8462,1843,2914,4495,5996,9967,68923,11518,393
Share Capital 1381381381381381381381386363
Reserves 1,5071,7092,0463,1534,3115,4626,8587,55223,05218,329
Debt +2,2992,2142,0891,8347703940000
Long Term Debt2,2912,2132,0891,8347703910000
Short Term Debt7100030000
Minority Interest0000000000
Trade Payables3142933523444474467167001,4951,643
Others Liabilities 2,0912,2792,5022,4282,8433,1163,1843,2693,3463,196
Total Liabilities 6,3486,6337,1277,8978,5099,55510,89511,65827,95623,232

Fixed Assets

Net Fixed Assets +4,9025,0935,2895,5846,0396,6307,3367,76112,1638,792
Gross Block5,9166,3626,8417,4408,2209,17910,30411,19320,54515,809
Accumulated Depreciation1,0141,2701,5531,8562,1812,5492,9683,4318,3827,017
CWIP 5064784895697319929839181,201843
Investments 681616172022301353,2492,275
Inventories4257694652536159707990
Trade Receivables3483925105107759301,0211,0302,2341,686
Cash Equivalents 61136309692319216819262,8061,070
Others Assets 4234614454795729067828295,5977,577
Total Assets 6,3486,6337,1277,8978,5099,55510,89511,65827,95623,232
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 7017859641,4221,6591,6622,3781,6342,8112,407
PBT 3034635941,2081,6951,7132,0251,5362,9593,089
Adjustment 4584493994534243944094411,08575
Changes in Working Capital -12-23-2941-44-10405-20-785-417
Tax Paid -49-1040-280-417-436-461-323-449-339
Cash Flow From Investing Activity + -458-430-612-467-612-1,294-1,041-879-3,779-1,955
Capex -480-455-530-595-755-1,366-1,086-837-938-826
Net Investments 20-1707010000-100-3,006-1,622
Others 2025885843734558165493
Cash Flow From Financing Activity + -255-273-349-502-1,318-628-678-514-454-268
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 18-25-114-215-1,102-419-478000
Interest Paid -232-199-195-191-117-53-38-27-45-40
Dividend Paid -41-50-67-84-86-137-138-457-355-184
Others -0026-13-13-19-25-29-54-44
Net Cash Flow -13823453-272-260658241-1,421185
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)13.9216.6920.6943.5932.7725.5924.2215.5622.6111.08
ROCE (%)13.2516.3618.729.1734.4131.4231.9921.6514.8915.1
Asset Turnover Ratio0.840.981.161.41.231.861.691.441.40.95
PAT to CFO Conversion(x)3.192.72.311.191.311.291.561.430.811.05
Working Capital Days
Receivable Days22.6021.3020.7017.7023.3018.5020.602321.5029.60
Inventory Days2.902.802.9021.801.201.201.30512.80
Payable Days28.6025.1020.6017.2022.2012.7016.6021.7019.8034.10

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Gujarat Energy Ltd FAQs

The current trading price of Gujarat Energy on 11-Sep-2026 15:13 is ₹241.5.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Gujarat Energy stood at ₹23,901.4 Cr

The latest P/E ratio of Gujarat Energy as of 10-Sep-2026 is 11.57.

The latest P/B ratio of Gujarat Energy as of 10-Sep-2026 is 1.22.

The 52-week high of Gujarat Energy is ₹451.6 and the 52-week low is ₹246.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gujarat Energy is ₹23,490 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gujarat Energy Ltd is a good quality company.

The key valuation ratios of Gujarat Energy Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Gujarat Energy Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Gujarat Energy Ltd

Gujarat Energy (GEL) (formerly known as Gujarat Gas) is an integrated energy company established pursuant to the Composite Scheme of Amalgamation & Arrangement involving the GSPC (Gujarat State Petroleum Corporation) Group of Companies, which was finally approved by the Ministry of Corporate Affairs, Government of India, in April 2026.

GEL is one of India’s largest City Gas Distribution (CGD) companies in terms of volume, with operations across several districts in multiple states and a Union Territory in India. GEL is also one of the leading gas trading companies in India. The company’s diverse and robust natural gas procurement portfolio serves the requirements of customers across strategically important segments, such as fertilizers, power, petrochemicals, and other large industries, while also complementing its captive demand for its CGD business.

GEL also holds participating interests in Exploration & Production (E&P) blocks in India. GEL is the operator of E&P blocks located in the Cambay Basin in Gujarat. GEL also owns wind power generation assets in Gujarat.

Business area of the company

The company is engaged in the natural gas business in India, which involves the distribution of gas from sources of supply to centres of demand and to end customers.

Businesses of the company

City Gas Distribution (CGD) Business

  • PNG Domestic
  • PNG Industrial
  • PNG Commercial
  • CNG

Gas Trading Business

Exploration and Production (E&P) Business

Awards and Accolades

  • 2020: 'Star PSU Award 2020' by Business Standard
  • 2020: 'India's Best CEO Award 2020' by Business Today
  • 2021: 'India's Best CEO Award 2021' by Business Today
  • 2022: 'Star PSU of the Year 2022' by The Economic Times
  • 2022: 'Supply Chain Champion' Award by India Supply Chain Management (ISCM)
  • 2023: 'India's Top 500 Value Creators 2023' by Dun & Bradstreet
  • 2023: 'World's Most Trustworthy Companies 2023' by Newsweek
  • 2024: 'Top 150 Wealth Creators 2024' by Dalal Street Investment Journal
  • 2024: 'Commendable Performance' by The Institution of Engineers (India)
  • 2024: 'ESG Award' by Skoch
  • 2024: ‘Downstream Project of the Year – India’ award and ‘ESG Initiative of the Year – India’ at the Asian Oil & Gas Awards 2024
  • 2026: Name of the company changed from “Gujarat Gas Limited” To “Gujarat Energy Limited”.

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