Gujarat Energy (GUJENERGY) Q4 23/24 earnings summary

Executive summary

• FY24 revenue from operations was ₹16,292.97 crore and net profit ₹1,142.77 crore; both were below FY23, while average annual CNG sales reached a record 2.72 mmscmd, up 12% YoY.

• Expansion continued across PNG and CNG networks, alongside pilot projects for green hydrogen blending and compressed biogas injection.

Financial highlights

• Revenue from operations: ₹16,292.97 crore vs ₹17,306.16 crore in FY23; total income: ₹16,400.72 crore vs ₹17,407.43 crore.

• Profit before interest, depreciation and tax: ₹2,039.82 crore vs ₹2,493.26 crore; PBT: ₹1,536.21 crore vs ₹2,024.65 crore.

• Net profit: ₹1,142.77 crore vs ₹1,525.47 crore; total comprehensive income: ₹1,151.43 crore vs ₹1,533.99 crore.

• Excluding ₹55.69 crore exceptional income from reversal of prior-period CNG trade-margin provisions after settlement with OMCs, PBT was ₹1,480.52 crore.

• Net cash from operations was ₹1,634.04 crore; closing cash and cash equivalents were ₹915.98 crore.

Outlook and guidance

• Plans call for more than 200 additional CNG stations over 2–3 years through the FDODO scheme; FY25 plans include 22 new stations and upgrades to 62 existing stations.

• FY25 plans include two LNG storage and regasification facilities, two CBG injection projects, and green hydrogen blending beyond 8%, subject to regulatory approval and satisfactory results.

• Continued expansion of PNG connections and CNG infrastructure, new-area network rollout and digitization are intended to support future revenue and profitability.