Propane price advantage may persist
Propane is currently ₹4-6/scm cheaper than natural gas, and management expects this gap to widen in winter, further pressuring industrial volumes.
GUJGASLTD / Q2-FY26 / risks
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Gujarat Gas · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
APM gas allocation shortfall continues
Overall priority sector shortfall was 51% in Q2, with CNG segment facing 64% shortfall, requiring costlier spot LNG purchases.
Propane business may dilute margins
Analyst questioned if entering propane could cannibalize natural gas sales; management acknowledged margins in propane are much lower than current gas margins.
Global LNG supply may not ease until FY27
Management noted that competitive LNG pricing may not materialize until FY27, limiting ability to win back propane-switched customers.