Annual report
Reg. 34 (1) Annual Report. 26 Sep
Source: Bse
Gujarat Natural Resources Limited (GNRL)
Small CapPower stocks · Small cap · NSE
Gujarat Natural Resources Limited operates in Oil & Gas Exploration, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹95.13
-0.33 · -0.35%
Market cap ₹1,484 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 05:50 pm ISTDetails
Quote19 Oct, 05:50 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result14 Aug, 06:09 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
39BearishSMA20 -4.1% / mo · MACD −
Stock trend: 39
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
GNRLD candles · FIT view-4.4%Latest close ₹95.13 on 2026-10-19
Daily history is available from 2026-04-20; the requested 1Y window is partially covered.
Bar
-1.8%
RSI
42
MACD hist
-0.12
52W pos
32%
2026-10-19O ₹96.91H ₹96.91L ₹94.40C ₹95.13Vol 39,295 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
GNRLNifty PowerNifty 500
- GNRL
- -4.0%
- Nifty 500
- -5.6%
- Nifty Power
- -13.0%
- Vs Nifty 500
- +1.6 pp
Chart stats
19 Oct 2026- From 52W high
- -21.3%
- 52W range position
- 32%
- ATR (14)
- 4.0%
- Volume vs 20D
- 0.09x
- Avg traded value
- ₹4.3 Cr
- 20D price channel
- ₹93.2 - ₹119.4
₹120.9
₹83.2 - ₹120.9
₹3.8
Latest completed session
20-session average
18.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST33
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +100.0% · PAT +450.0% YoY
Technical
Bearish39
Price trend and sector-relative-strength timing.
Valuation
Legacy model-189.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence63
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +100% YoY · PAT +450% YoY · margin expansion · operating leverage
Filed 14 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹6 Cr | +100.0% | -45.5% |
| EBITDA | ₹12 Cr | NDF | +500.0% |
| Operating margin | 202.0% | +19400 bps | +18200 bps |
| PAT | ₹11 Cr | +450.0% | +1000.0% |
| PAT margin | 183.3% | +11666 bps | +17424 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 76.90
- P/B
- 7.12
- EV/EBITDA
- 51.62
- Market Cap
- 1484.00Cr
Profitability
- ROE
- 5.47%
- ROCE
- 7.26%
- ROA
- 7.79%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 30.00%
- EPS 5Y
- 34.00%
- Revenue 3Y
- 32.00%
- EPS 3Y
- 64.00%
Balance Sheet
- Debt/Equity
- 0.06
- Interest Coverage
- —
- Altman Z
- 7.06
- Book Value
- 13.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- 48.00 Cr
- EPS TTM
- 1.31
Shareholding
- Promoter Hold
- 1.93%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 46%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 31.0+55.0% vs prev
Net Profit
₹ CrLatest: 10.0+350.0% vs prev
Return on Equity
%Latest: 4.8+284.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 42.
- SMA20 falling (~4.3% over last month) — short-term momentum negative.
- RSI(14) at 42 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 21% off 52W high · 14% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
58
RS percentile
Insufficient history
1M return
-3.4%
3M return
-4.0%
6M return
-3.1%
1Y return
-
RS 1D
+2
RS 20D
-
Sector rank
#11
Industry rank
#2
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price below
200-DMA
unavailable
Sector
neutral
Industry
leading
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
127 observations
19 Oct 2026Value 99.18+0.68%
RS vs Nifty 50099
Valuation & peers
U-Score 33 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 33 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth20/25
Quality0/20
Balance Sheet6/15
Cash Flow2/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
33
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
33/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 7/9.
- Growth contributes 20/25 to the score.
- Balance sheet contributes 6/15 to the score.
Main drags
- Fair-value margin of safety is negative at -189.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
76.9
PB
7.1
EV/EBITDA
51.6
ROE
5.5%
ROCE
7.3%
FCF Yield
—
Debt/Equity
0.1
MoS
-189.0%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
33
Previous: 33
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-189.0%
Previous: -189.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
33
33
33
33
33
33
33
33
33
33
33
33
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹20.02
-375.1% MoS
Growth-justified P/E
25.1
Growth-justified Value
₹32.92
-189.0% MoS
PEG
1.67
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
HINDOILEXP
Small
Hindustan Oil Exploration Company Limited
Oil & Gas
match 135
29
86.8
2.1%
-1391%
OVERVALUED
ASIANENE
Small
Asian Energy Services Limited
Oil & Gas
match 135
35
34.6
12.8%
-14%
WATCHLIST
DOLPHIN
Small
Dolphin Offshore Enterprises (India) Limited
Oil & Gas
match 132
43
34.5
21.9%
-16%
WATCHLIST
GULFPETRO
Small
GP Petroleums Limited
Oil & Gas
match 132
34
7.4
8.4%
-51%
WATCHLIST
OILCOUNTUB
Small
Oil Country Tubular Limited
Oil & Gas
match 131
16
—
-28.7%
—
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Gujarat Natural Resources Limited operates in Oil & Gas Exploration, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
63Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 38th percentile of the scored universe and 41st percentile within Power. Main check: results consistency is weak at 50/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
38th percentile
overall median 67 · Power: 41st pctile, median 65 · Small: 43rd pctile, median 66
Evidence depth
Financial-only
4 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
66
acceptable · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
56
watch · capital discipline
Results
50
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.06.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Promoter holding is only 1.9%.
- ▸ROCE is low at 7.3%.
- ▸ROE is low at 5.5%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Gujarat Natural Resources Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Sep - Newspaper Advertisement_35th AGM of the Company and Book Closure
Source: Bse
Announcement
Announcement Under Reg 30_Operational Update_Drilling Campaign_07.09.2026 7 Sep - GNRL resumes drilling with 2 rigs; 5 wells drilled, 4 producing, North Kathana shows reserves.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Aug - Copy of Newspaper Publication_30.06.2026_Unaudited Financial Results
Source: Bse
Annual report
Annual Report 2026
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Annual Report 2025
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All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.