GNRLGujarat Natural Resources Ltd.
Gujarat Natural Resources Q2 FY27 Results: Consolidated Net Profit ₹4.24 Crore on Total Income of ₹11.40 Crore
- Earnings
- Oil and gas trading
Reviewed byKeshav SehgalBlacklitt Research
Gujarat Natural Resources (NSE: GNRL) reported consolidated total income of ₹11.40 crore and net profit of ₹4.24 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹1.63 crore and standalone net profit was ₹5.60 lakh.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹11.40 crore, up 14.4% YoY and 54.4% QoQ
- Net profit and EPS: ₹4.24 crore, up 10.4% YoY and down 62.6% QoQ; basic EPS ₹0.28 against ₹0.30 a year earlier
- Depreciation: ₹2.11 crore, up 69.4% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1.63 crore, down 59.6% YoY and 9.5% QoQ
- Net profit and EPS: ₹5.60 lakh, down 98.3% YoY; basic EPS ₹0.00 against ₹0.25 a year earlier
- Revenue from operations: ₹55.00 lakh, down 84.2% YoY, while other income rose 92.2% to ₹1.08 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 11.40 | 9.96 | +14.4% | 7.38 | +54.4% | |
| Revenue from operations | 10.19 | 8.65 | +17.9% | 5.72 | +78.1% |
| Other income | 1.20 | 1.32 | -8.9% | 1.66 | -27.5% |
| 4.24 | 3.84 | +10.4% | 11.35 | -62.6% | |
| Profit before tax | 3.83 | 4.35 | -11.8% | 11.49 | -66.6% |
| Finance costs | 0.33 | 0.57 | -42.9% | 0.05 | +573.1% |
| Depreciation | 2.11 | 1.25 | +69.4% | 1.68 | +25.7% |
| Tax expense | -0.41 | 0.51 | n/a | 0.15 | n/a |
| Net profit margin | 37.21% | 38.54% | -1.33 pp | 153.73% | -116.52 pp |
| EPS, basic (₹) | 0.28 | 0.30 | -6.7% | 0.74 | -62.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated total income rose 14.4% to ₹11.40 crore, and net profit rose 10.4% to ₹4.24 crore. Profit grew more slowly than income. Profit before tax fell 11.8% to ₹3.83 crore, and the tax line shows minus ₹40.71 lakh this quarter against ₹50.71 lakh a year earlier, so net profit is above profit before tax.
Revenue from operations rose 17.9% to ₹10.19 crore, while other income fell 8.9% to ₹1.20 crore. Other income of ₹1.20 crore is 10.5% of total income this quarter. Finance costs were ₹32.78 lakh, down 42.9% from a year earlier, and depreciation rose 69.4% to ₹2.11 crore.
Against the June quarter, consolidated total income rose 54.4% from ₹7.38 crore, while net profit fell 62.6% from ₹11.35 crore. The notes say the September quarter figures are the balance between the unaudited half-year figures and the figures published for the first quarter of the financial year. Exceptional items are shown as 0.00 for the quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1.63 | 4.04 | -59.6% | 1.81 | -9.5% | |
| Revenue from operations | 0.55 | 3.48 | -84.2% | 0.27 | +103.0% |
| Other income | 1.08 | 0.56 | +92.2% | 1.53 | -29.4% |
| 0.06 | 3.24 | -98.3% | 10.54 | -99.5% | |
| Profit before tax | 0.06 | 3.88 | -98.5% | 10.54 | -99.5% |
| Finance costs | 0.20 | 0.00 | n/a | 0.00 | n/a |
| Depreciation | 0.00 | 0.00 | 0.0% | 0.00 | 0.0% |
| Tax expense | 0.00 | 0.64 | -100.0% | 0.00 | n/a |
| Net profit margin | 3.43% | 80.19% | -76.76 pp | 583.79% | -580.36 pp |
| EPS, basic (₹) | 0.00 | 0.25 | n/a | 0.69 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income fell 59.6% to ₹1.63 crore from ₹4.04 crore a year earlier, and net profit fell 98.3% to ₹5.60 lakh from ₹3.24 crore. Standalone revenue from operations fell 84.2% year on year, while other income rose 92.2%.
Standalone other income of ₹1.08 crore is 66.3% of total income this quarter. Standalone finance costs were ₹20.42 lakh, against 0.00 in the same quarter a year earlier.
The company says it operates in oil and gas and trading activities. The consolidated statement includes GNRL Oil & Gas India Pvt Limited, wholly owned, and two step-down subsidiaries, Heramec Oil & Gas (Singapore) Pte Ltd and Alkor Petro Overseas Ltd. The statutory auditor, G M C A & Co., issued limited review reports on both statements; the consolidated report says its conclusion is not modified in respect of the subsidiaries.
Inference
Consolidated current borrowings were ₹36.38 crore at 30 Sep 2026, against ₹7.26 crore at 31 Mar 2026. Consolidated capital work in progress was ₹86.28 crore at 30 Sep 2026, against ₹48.68 crore at 31 Mar 2026.
The filing does not say what the borrowings fund or whether a dividend is planned.
Filed with BSE on . Reference: Original filing (PDF)
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