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Gujarat Gas Limited (GUJGASLTD) Fair Value & Analysis

Utilities · IN · Market cap ₹310B

GG Gujarat Gas Limited GUJGASLTD · NSE
Price₹282.95
Fair Value₹291.24
Upside+2.9%
Quality42/100
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Healthy Growth
Thin margins · 8.6% net margin
Low debt · generates free cash flow
2.72% dividend yield
Ranks above peers (8/11)
Moderate moat 46/100
Evidence: High Range ₹218.43 – ₹364.06 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Share price −0.9% over the past month.

Below-average quality, currently priced close to our fair value.

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ₹218.43 (bear) to ₹364.06 (bull), base ₹291.24. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 42/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹739.50 ₹263.15 Fair Value ₹291.24 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹263.15 – ₹739.50 · fair‑value band ₹218.43 – ₹364.06 · the ₹282.95 price screens below the ₹291.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Gujarat Gas Limited (GUJGASLTD) currently trades at ₹282.95, while our model-based Fair Value estimate is ₹291.24, implying the stock looks roughly 2.9% fairly valued today. The Quality Score stands at 42/100 (below-average quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Gujarat Gas Limited generated revenue of ₹236B at a net margin of 8.6%. Revenue grew 21.1% year over year. It earns a return on equity of 12.3%. Net debt stands at ₹19.3B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹218.43 (bear case) to ₹364.06 (bull case); at ₹282.95, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 43% below its 52-week high, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at 2% fair-value upside, at 3%, GUJGASLTD screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹313.60 ₹687.12 ₹1,401 80
Residual Income ₹179.46 ₹210.96 ₹473.99 76
Rev-Margin DCF ₹234.73 ₹452.74 ₹766.95 74
All 26 models by family
DCF Models
FCF DCF ₹325.09 ₹605.60 ₹1,379 38
Owner Earnings ₹314.23 ₹715.71 ₹1,557 31
5Y Revenue Exit ₹234.73 ₹451.64 ₹791.46 39
5Y EBITDA Exit ₹248.88 ₹483.25 ₹825.65 41
5Y P/E Exit ₹281.43 ₹569.54 ₹928.07 38
10Y Revenue Exit ₹252.02 ₹494.21 ₹852.54 36
10Y EBITDA Exit ₹270.60 ₹520.08 ₹946.84 37
10Y P/E Exit ₹293.68 ₹579.58 ₹1,044 35
Earnings-Based
Graham-Dodd ₹146.32 ₹934.60 ₹1,306 54
Lynch FV ₹270.53 ₹386.47 ₹502.41 50
PEG = 1.0 ₹270.53 ₹386.47 ₹502.41 46
EPV ₹131.07 ₹157.20 ₹180.44 59
Dividend Discount
Gordon GGM ₹18.83 ₹41.10 ₹69.15 70
DDM Multi-Stage ₹18.83 ₹33.67 ₹42.83 61
Multiples
P/E Multiple ₹290.50 ₹387.33 ₹484.16 63
P/S Multiple ₹274.36 ₹365.81 ₹457.26 58
P/B Multiple ₹265.31 ₹353.75 ₹442.18 55
EV/EBIT ₹241.11 ₹327.17 ₹413.22 53
EV/EBITDA ₹226.92 ₹308.24 ₹389.56 54
EV/Revenue ₹191.77 ₹281.27 ₹370.77 43
Asset-Based
NCAV (Graham) ₹98.26 ₹131.67 ₹196.53 50
Growth DCF
Growth DCF ₹313.60 ₹687.12 ₹1,401 80
Rev-Margin DCF ₹234.73 ₹452.74 ₹766.95 74
Economic Profit
Residual Income ₹179.46 ₹210.96 ₹473.99 76
ROIC Compounder ₹131.07 ₹157.20 ₹180.44 72
Growth Earnings
Growth-Adj P/E ₹358.42 ₹512.03 ₹665.64 68

Widest divergence: DCF Models (₹520.08) versus Dividend Discount (₹33.67). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹236B
Revenue growth (YoY) +21.1%
Net margin 8.6%
Return on equity 12.3%
Free cash flow ₹20.3B FY2026
P/E ratio 857.4
More key figures
Operating margin 10.3%
EPS (TTM) ₹0.3300
Dividend yield 2.7%
EPS growth (YoY) +32.6%
Net debt ₹19.3B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 47 · Market factors (momentum, volatility) 27

Profitability 45
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Gujarat Energy Limited engages in the distribution of natural gas in India. It operates a network of approximately 42,600 kilometers of natural gas pipeline and 828 compressed natural gas (CNG) stations.

Full company description

Gujarat Energy Limited engages in the distribution of natural gas in India. It operates a network of approximately 42,600 kilometers of natural gas pipeline and 828 compressed natural gas (CNG) stations. The company supplies piped natural gas to approximately 22.6 lakh households, approximately 15,600 commercial customers; and approximately 4,400 industrial customers, as well as operates 828 CNG stations. The company also owns wind power generation assets in Gujarat and operates a pilot project of blending green hydrogen. Additionally, it provides IT services for various e-governance initiatives of the government of Gujarat. It operates in the states of Gujarat, Maharashtra, Punjab, Madhya Pradesh, Rajasthan, and Haryana; and 1 union territory of Dadra and Nagar Haveli, and Daman and Diu. The company was formerly known as Gujarat Gas Limited and changed its name to Gujarat Energy Limited in May 2026. Gujarat Energy Limited was incorporated in 2012 and is based in Gandhi nagar, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Gujarat Gas Limited reported revenue of ₹236B in FY2026 versus ₹165B in FY2022, a compound +9.4%/yr. Reported net income was ₹20.2B in FY2026, compounding +11.9%/yr from FY2022.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹236B
Latest YoY
+43.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.1%
Avg. growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.6%
Revenue +9.4%/yr
FY22 ₹165B
FY23 ₹168B
FY24 ₹157B
FY25 ₹165B
FY26 ₹236B
Net income +11.9%/yr
FY22 ₹12.9B
FY23 ₹15.3B
FY24 ₹11.4B
FY25 ₹11.5B
FY26 ₹20.2B
Character of growth · EPS growth decomposed (2015-2026) +18.2 % p.a.
Revenue per share +10.5 pp

of which total revenue +11.9 pp · buybacks/dilution −1.4 pp

EBIT margin −2.0 pp
Tax rate +0.4 pp
Residual (interest, one-offs) +9.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Gujarat Gas Limited Fair Value". https://www.fairvalue-calculator.com/stock/GUJGASLTD

Peer Group

Utilities - Regulated Gas · 104 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 42 · Below median
Fair Value upside +3% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 21% · Top 25%
Dividend yield (TTM) 2.7% · Below median
Debt / equity 0.16× · Lower than median

Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper

P/E (TTM) 857.4× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 37 · sector 23
FUTURE 100 · sector 0
PAST 49 · sector 34
HEALTH 92 · sector 87
DIVIDEND 54 · sector 74

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €28.94 €31.58 +9%
Atmos Energy Corporation ATO $169.59 $85.67 -49%
NiSource Inc NI $42.01 $28.59 -32%
Uniper SE UN0 €47.45 €48.32 +2%
The Hong Kong and China Gas Company 0003 HK$6.76 HK$4.79 -29%
GAIL (India) Limited GAIL ₹177.95 ₹130.21 -27%
Adani Total Gas Limited ATGL ₹654.05 ₹101.36 -85%
ENN Natural Gas Co 600803 ¥17.32 ¥25.71 +48%
ENN Energy Holdings 2688 HK$47.16 HK$107.98 +129%
China Suntien Green Energy Corporation 600956 ¥7.26 ¥7.37 +2%

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Frequently asked questions

Is Gujarat Gas Limited (GUJGASLTD) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹291.24 versus a price of ₹282.95, about +3% (fairly valued).
What is the fair value of GUJGASLTD?
Our model-based fair value for Gujarat Gas Limited is ₹291.24 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹282.95.
What is the quality score of GUJGASLTD?
Gujarat Gas Limited has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Gujarat Gas Limited (GUJGASLTD)?
Gujarat Gas Limited reported trailing-twelve-month revenue of about ₹236B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of GUJGASLTD?
The net profit margin of Gujarat Gas Limited is about 8.6%, meaning it keeps roughly 8.6% of revenue as net income. Based on the latest reported figures.
Does Gujarat Gas Limited pay a dividend?
Gujarat Gas Limited currently shows a dividend yield of about 2.72% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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