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Gujarat Gas Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Margins

Q2 FY26EBITDA margin guidance of ₹4.5-5.5 per scm for FY26Active

Management reiterated the full-year EBITDA margin guidance of ₹4.5 to ₹5.5 per scm, despite current margins being at the higher end.

Q3 FY26Full-year EBITDA margin guidance of ₹5.5-6.5 per SCMActive

CFO guided EBITDA margin per SCM for FY26 in the range of ₹5.5 to ₹6.5.

Capex

Q2 FY26Capex of ~₹800 crore for FY26 and similar for FY27Tracked

The company plans to incur capital expenditure of approximately ₹800 crore in FY26, with a similar range expected for FY27.

Q3 FY26Capex of ₹650-700 crore for FY26Active

Company plans capital expenditure of ₹650-700 crore for the full financial year.

Other

Q2 FY26Scheme of arrangement expected to close by December 2025Active

Management expects the MCA hearing and final order by December 2025, with relisting of GSPL taking 2-3 months thereafter.

Expansion

Q2 FY26Propane business entry in advanced stagesTracked

Discussions with capacity providers, fleet providers, and international propane suppliers are advanced; breakthrough expected in next few months.

Growth

Q3 FY26Morbi volume recovery to 3.0-3.2 MMSCMD by March 2026Active

Management expects Morbi industrial volumes to reach 3.0-3.2 MMSCMD by March 2026, driven by price cuts and rising propane prices.

Q3 FY26Target 60-70% long-term gas contracts by end of 2027Tracked

Management aims to increase long-term gas sourcing to 60-70% of total portfolio by end of 2027 to reduce spot exposure.