Who are Gujarat Energy's main competitors?

Named competitors: GAIL (India) (GAIL.NS), Indraprastha Gas (IGL.NS), Mahanagar Gas (MGL.NS), Adani Total Gas (ATGL.NS). The cockpit's measured peer set (industry) also includes Indraprastha Gas (IGL.NS), Mahanagar Gas (MGL.NS), Petronet Lng (PETRONET.NS), Adani Total Gas (ATGL.NS), GAIL (India) (GAIL.NS), Oneok (OKE).

How has Gujarat Energy stock performed?

Over six months to 6 Nov 2026 the shares returned -45.6% against 0.0% for the median peer; over one year -47.4%.

← CockpitCompetitor Analysis › GUJENERGY.NS Gujarat Energy LtdOpen in the cockpit ↗

Gujarat Energy LtdGUJENERGY.NSCompetitor analysis, valuation and peers

India · INR·Oil & Gas›Gas Distributors

Gujarat state-backed integrated natural gas company: city gas distribution, LNG and gas trading, oil and gas exploration, wind power.

Momentum laggard 4

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$2.15B

US dollars, full cap

Free float

47%

of shares outstanding

$/day

$3.22M

20-day average traded

Fwd P/E

7.6×

forward earnings

ROIC−WACC

-5.8 pp

WACC 14.5%

Hurdle

-10 pp

Req g minus delivered

Next earnings

96 days

10 Feb 2027

Close · INR₹216.18

1D-3.8%

1W+3.9%

1M-5.4%

3M-21.6%

6M-45.6%

YTD-47.5%

1Y-47.4%

ATR %3.2%

Beta0.65

52w lowhigh51.3% off high

What Gujarat Energy does

Gujarat state-backed integrated natural gas company: city gas distribution, LNG and gas trading, oil and gas exploration, wind power.

Earns from gas at several stages: piped gas and CNG sold to homes, industry and vehicles under regional licences, LNG sourced and resold, and output from oil and gas blocks, plus some wind power. A 2026 merger folded the state-owned gas companies GSPC and GSPL into the former Gujarat Gas, and the pipeline business was split into a separate company.

Products and services

City gas distribution (piped gas and CNG)
Gas trading (LNG sourcing and marketing)
Oil and gas exploration and production
Wind power

Customers

Households
Industrial and commercial gas users
CNG vehicle owners

Where it sits in the supply chain

Energy
Natural gas value chain
Exploration, gas trading and city gas…

What could go right

Rising CNG and piped-gas connections
Integrating gas trading and exploration with distribution

What could go wrong

LNG price and supply swings
Regulatory tariff intervention
Merger integration

Moat: none

Headquarters: Gandhinagar, India · Founded: 2012 · Employees: 13,132

Named competitors

Gujarat Energy at a glance

Size Gujarat Energy (GUJENERGY.NS) is an India Energy company (Gas Distributors) with a market value of $2.15B, the 361st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹216.18 on 6 Nov 2026.

Performance Over six months the shares fell 45.6%, against 0.0% for the median peer and 0.0% for the India market (cap-weighted) — lowest of 8 in its peer set.

Growth Revenue grew 43.2% over the last twelve months (peer median +13.6%); the operating margin is 9.6% (peer median 13.9%).

Valuation It trades at 7.6× forward earnings against a peer median of 15.3× (cheapest of 8).

Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -10 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 5.8 points below its cost of capital (14.5% WACC).

Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Gujarat Energy against the median of its 7 peers (local-currency closes).

Gujarat Energy financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹228B	₹236B	₹276B	₹157B	₹168B
Revenue growth	—	-14%	+76%	-6%	—
Gross profit	₹36.3B	₹28.4B	₹32.7B	₹18.1B	₹23.0B
EBITDA	₹28.8B	₹31.6B	₹30.6B	₹19.4B	₹24.5B
Net income	₹19.0B	₹20.2B	₹41.1B	₹11.4B	₹15.3B
Free cash flow	n/a	₹20.3B	₹26.0B	₹8.32B	₹13.0B
Capital expenditure	n/a	₹9.53B	₹9.53B	₹8.37B	₹10.9B
Total debt	n/a	₹32.4B	₹31.5B	₹1.50B	₹1.52B

Quarterly statements and history in the cockpit →

Gujarat Energy competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Gujarat Energy is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Gujarat Energy is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Gujarat Energy is the large dot.

Gujarat Energy competitors and peer comparison

Head to head with its named competitors (GUJENERGY.NS vs GAIL.NS vs IGL.NS vs MGL.NS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Gujarat Energy GUJENERGY.NS	$2.15B	-46%	+43%	10%	7.6×	8.7%
GAIL (India) GAIL.NS	$12.9B	+11%	+10%	9%	8.7×	16.9%
Indraprastha Gas IGL.NS	$2.10B	-16%	+15%	3%	19.3×	27.0%
Mahanagar Gas MGL.NS	$1.18B	-4%	+14%	9%	15.3×	24.5%
Adani Total Gas ATGL.NS	$6.69B	-11%	+24%	14%	27.9×	n/a

How Gujarat Energy compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Gujarat Energy against its 7 peers (data as of 6 Nov 2026)
Measure	GUJENERGY.NS	Peer median	Rank in peer set
1-month return	-5.4%	-1.1%	3rd lowest of 8
6-month return	-45.6%	0.0%	lowest of 8
Distance from 52-week high	-51.3%	-14.7%	lowest of 8
Revenue growth (TTM)	+43.2%	+13.6%	highest of 8
Operating margin	9.6%	13.9%	4th lowest of 8
Forward P/E	7.6×	15.3×	cheapest of 8
Growth the price implies (Req g, 7 yrs)	8.7%	12.0%	4th least demanding of 7
Growth delivered (Del g)	+19.1%	+23.3%	3rd lowest of 7
Hurdle (Req g minus delivered)	-10.4 pp	-7.4 pp	2nd least demanding of 7
ROIC minus cost of capital	-5.8 pp	-6.9 pp	4th highest of 8
EV / EBITDA	7.0×	11.2×	2nd cheapest of 8
Net debt / EBITDA	0.7×	1.2×	4th least indebted of 8

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Gujarat Energy GUJENERGY.NS	India	$2.15B	-46%	+43%	10%	7.6×	8.7%	+19.1%
Indraprastha Gas IGL.NS	India	$2.10B	-16%	+15%	3%	19.3×	27.0%	+26.8%
Mahanagar Gas MGL.NS	India	$1.18B	-4%	+14%	9%	15.3×	24.5%	+30.8%
Petronet Lng PETRONET.NS	India	$5.02B	+12%	-30%	16%	11.3×	0.9%	+10.8%
Adani Total Gas ATGL.NS	India	$6.69B	-11%	+24%	14%	27.9×	n/a	n/a
GAIL (India) GAIL.NS	India	$12.9B	+11%	+10%	9%	8.7×	16.9%	+19.8%
Oneok OKE	United States	$53.7B	0%	+38%	15%	14.3×	4.2%	+31.8%
Targa Resources TRGP	United States	$56.7B	+7%	-1%	25%	21.7×	7.2%	+15.8%

Questions

Who are Gujarat Energy's main competitors?: Named competitors: GAIL (India) (GAIL.NS), Indraprastha Gas (IGL.NS), Mahanagar Gas (MGL.NS), Adani Total Gas (ATGL.NS). The cockpit's measured peer set (industry) also includes Indraprastha Gas (IGL.NS), Mahanagar Gas (MGL.NS), Petronet Lng (PETRONET.NS), Adani Total Gas (ATGL.NS), GAIL (India) (GAIL.NS), Oneok (OKE).
Is Gujarat Energy expensive compared with its peers?: On forward p/e it trades at 7.6× against a peer median of 15.3×, cheapest of 8 in its peer set. For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -10 pp: the price already allows for a slowdown.
How has Gujarat Energy stock performed?: Over six months to 6 Nov 2026 the shares returned -45.6% against 0.0% for the median peer; over one year -47.4%.