GSPL Transmission Limited · NSE:GSPLTRANS
GSPL Transmission — H1 FY2027 Earnings Presentation
34 slides from GSPL Transmission's earnings presentation, Nov 3, 2026
Slide 1: Regulation 30 intimation cover letter to exchanges
GP GSPL TRANSMISSION LIMITED GSPL Bhavan, E-18, GIDC Electronics, Nr. K-7 Circle, Sector-26, Gandhinagar-382028 Gujarat (INDIA) Tel: +91-79-23268500/600 Website: www.gspltrans.com Ref: GTL/S&L/2026-27 Date: 3 November, 2026 To To The Manager (Listing) The Manager (Listing) The BSE Limited, The Natio
Slide 2: GSPL Transmission Limited Q2 & H1FY27 Investor Presentation
GP GSPL TRANSMISSION LIMITED (GTL) Q2 & H1FY27 INVESTOR PRESENTATION I 03 November 2026
Slide 3: Disclaimer
Disclaimer GP This presentation has been prepared by GSPL Transmission Limited (GTL) solely to provide information about the Company. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such info
Slide 4: Agenda: Introducing GTL, Way Forward, Performance Highlights
1 E Introducing GTL 2 %° Way Forward 3 Performance Highlights Board of Directors & 4 Management Team : 5 2 ,I Appendix
Slide 5: Introducing GTL
1 Introducing GTL 4
Slide 6: GTL At A Glance: A Leading Pure-Play Gas Transmission Platform
GTL At A Glance: A Leading Pure-Play Gas Transmission Platform • Pure-play, open-access transmission network • Connected to major supply points, ~ 2,900 km #2 in India 26 100+ Customers LNG terminals and demand centres Gujarat network Transmission network Districts covered in across Gujarat, with mu
Slide 7: Investment Rationale: A Difficult-to-Replicate Network
Investment Rationale A Difficult-to-Replicate Network 1 Pure-play platform 2 Extensive network • Focused natural gas transmission business operating on an open-access • Only grid connected to all operational LNG terminals in Gujarat and basis multiple domestic supply points • Links supply with deman
Slide 8: Value Creation Through Gas Transmission: From Gas Flow to Revenue
Value Creation Through Gas Transmission From Gas Flow to Revenue Gas Sales Agreement • l SUPPLIERS / PRODUCERS / MARKETERS/ LNG TERMINALS USERS Domestic GTA GTL Pipeline GTA ___ di City Gas Distribution (CGD) Natural Gas Network Refineries (Transportation under GTA) hu ¢o Fertilizer LNG Imports 4 Po
Slide 9: Positioned at the Heart of India's Gas Infrastructure Growth
Positioned at the Heart of India’s Gas Infrastructure Growth • ~25% gas share in Gujarat’s energy mix, supported by GTL’s high-pressure grid • Pan-India connectivity linking East Coast gas fields and West Coast LNG terminals • ~23% of India’s LNG imports transported through GTL’s network • ~41% of K
Slide 10: India's Gas Opportunity: Structural Growth Across End-Use Sectors
India’s Gas Opportunity : Structural Growth Across End – Use Sectors Growth supported by urbanization, ~6% - 15% 188 – 297 MMSCMD industrial & manufacturing activity, KEY GROWTH DRIVERS India’s Gas share aspiration Target by 2030 Natural gas consumption FY26 to 2030 projection 0 cleaner – fuel switc
Slide 11: Diversified Demand Base: Established Contractual Framework
Diversified Demand Base: Underpinned by an Established Contractual Framework Revenue from Operations Mix – Q2FY27 Diversified Customer Base ■ City Gas Distribution 19% (CGD) 100+ 200+ ■ Refineries Customers Customer Exit Points 41% 7% ■ Fertilizer Serves power, fertilizer, refinery, chemical, steel
Slide 12: Way Forward
2 Way Forward 11
Slide 13: Impact Strategy for Sustainable Growth
Impact Strategy for Sustainable Growth Network expansion with disciplined execution STRATEGIC PRIORITY EXECUTION FOCUS INTENDED IMPACT 8 New GIDCs to Further Strengthen Gujarat's Credibility in Network expansion Greater reach and connectivity Investment, Development and Employment Secure anchor dema
Slide 14: Creating Capacity for the Next Growth Cycle
Creating Capacity for the Next Growth Cycle Driving the Next Phase of Growth Expansion Plan Overview Key Projects Under Implementation • An expansion-led capex plan of ~ INR 3,500 crore is Project Length / Scope underway to enhance pipeline capacity and support future Anjar – Palanpur 284 km tariff
Slide 15: Strengthening the Network, Expanding Growth Potential
Strengthening the Network, Expanding Growth Potential Building Capacity for the Next Growth Cycle GTL commissioned pipeline and under construction pipeline GTL Pipeline Grid Network Commissioned Pipelines Anjar Under Construction Pipelines Low Pressure Grid Mundra LNG HAPI Pipeline GIGL Pipeline PLL
Slide 16: Beyond Gujarat: Building a Multi-State Gas Transmission Platform
Beyond Gujarat: GP Building a Multi – State Gas Transmission Platform GIGL and GITL are subsidiaries of GTL that extend its gas transmission footprint beyond Gujarat *GIGL : Northern & Western India *GITL: Central & Southern India • Approximately 1,439 km cross-country pipeline under operation • Ope
Slide 17: Strengthening the Network Beyond Gujarat: GTL-GIGL-GITL Network
Strengthening the Network Beyond Gujarat GTL – GIGL – GITL Network Ladakh Jammu & Kashmir Amritsar Himachal Pradesh Jalandhar Punjab Chandigarh NFL SV-4025 Uttarakhand GGSRL Panipat Haryana Delhi Rohtak Arunachal Pradesh Sikkim Rajasthan Uttar Pradesh Pachpadra Assam CAIRN’s RDG Nagaland Terminal Bi
Slide 18: Performance Highlights
3 Performance Highlights 17
Slide 19: Broad-Based Volume Growth Drives Q2FY27 Revenue Recovery
Broad-Based Volume Growth Drives Q2FY27 Revenue Recovery Quarterly Volumes in GTL (MMSCMD) Quarterly Gas Transmission Revenue in GTL (in INR Crores) (Net of Gas Transmission Expenses) 42.8 � • 40.4 • 39.2 I 37.6 l 43.2 [- 45.5 �l. 233 224 220 [ 216 • 202 JI 240 229 [ 243 230 36.3 36.4 36.7 33.6 210
Slide 20: CGD Remains the Largest Demand Segment
CGD Remains the Largest Demand Segment GTL Quarterly Sector Mix 47% 41% 39% 20% 20% 19% 19% 17% 17% 15% 13% 11% 9% 6% 7% CGD Refineries Fertilizers Power Other Industrials ■ Q2FY26 ■ Q1FY27 ■ Q2FY27 19
Slide 21: Key Performance Metrics: Q2 & H1FY27 Standalone Numbers
Key Performance Metrics: Q2 & H1FY27 Standalone Numbers Revenue (in INR Crores) EBITDA* (in INR Crores) & EBITDA Margin (%) 67.1 64.0 63.0% 69.9% % % 58.4% 277 290 567 267 542 194 363 363 168 169 Q2FY26 Q1FY27 Quarterly Q2FY27 H1FY26 H1FY27 Half - Yearly I I Q2FY26 Q1FY27 Quarterly Q2FY27 H1FY26 H1F
Slide 22: Key Performance Metrics: FY26 & H1FY27 Standalone Numbers
Key Performance Metrics: FY26 & H1FY27 Standalone Numbers Revenue (in INR Crores) EBITDA* (in INR Crores) & EBITDA Margin (%) 1,070 56.8% 64.0% 608 567 363 FY26 H1FY27 FY26 H1FY27 PAT (in INR Crores) & PAT Margin (%) Earnings Per Share (in INR) 12.97 45.6% 37.9% 8.26 406 258 FY26 H1FY27 FY26 H1FY27
Slide 23: Q2 & H1FY27: Key Developments
Q2 & H1FY27: Key Developments GP Expansion Plans Update • An expansion led capex plan of INR 3,500 crore is underway to enhance pipeline capacity to new geographical areas • The existing ~2,900 km pipeline network, supplemented by 700 km of planned additions, will expand GTL’s network to 3,600+ km •
Slide 24: Profit & Loss Statement: Q2 & H1FY27 Standalone Numbers
Profit & Loss Statement: Q2 & H1FY27 Standalone Numbers Particulars (INR Crores) Revenue Gas Transmission Expense --------- Q2FY27 289.6 45.9 Q2FY26 267.2 46.6 YoY 8.4% -1.4% Q1FY27 277.1 37.1 QoQ 4.5% 24.0% H1FY27 566.7 83.0 H1FY26 541.9 87.9 YoY 4.6% -5.6% FY26 1,070.4 197.7 • Revenue: Revenue gre
Slide 25: Balance Sheet – Standalone: As on 30th September 2026
Balance Sheet – Standalone: GP As on 30th September 2026 Equity and Liabilities (INR Crores) 30th Sep 2026 31st March 2026 Assets (INR Crores) 30th Sep 2026 31st March 2026 Share Capital 312.7 312.8 Non-Current Assets Other Equity 6,837.7 6,734.5 Plant, Property and Equipment 3,208.1 3,253.7 Total E
Slide 26: Profit & Loss Statement: Q2 & H1FY27 Consolidated Numbers
Profit & Loss Statement: GP Q2 & H1FY27 Consolidated Numbers Particulars (INR Crores) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1FY27 H1FY26 YoY FY26 Revenue 289.6 267.2 8.4% 277.1 4.5% 566.7 541.9 4.6% 1,070.4 Gas Transmission Expense 45.9 46.6 -1.4% 37.1 24.0% 83.0 87.9 -5.6% 197.7 Employee Expenses 24.6 23.5
Slide 27: Board of Directors & Management Team
4 Board of Directors & Management Team 26
Slide 28: Board of Directors: Governance Anchored by Experienced Leadership
Board of Directors: Governance Anchored by Experienced Leadership Shri Manoj Kumar Das, IAS Dr. T. Natarajan, IAS Shri Ashwini Kumar, IAS Smt. Gauri Kumar, IAS Chairman Non–Executive Director Non–Executive Director Woman Independent Director A 1990-batch Gujarat cadre officer and A 1996 batch IAS of
Slide 29: Management Team
Management Team Prakash Karnik Saarthak Gautam Lokesh Agarwal Chief Executive Officer General Manager General Manager & Chief Financial Officer Civil Engineer and MBA with 33+ years of experience Mechanical Engineer with extensive experience Commerce and Law graduate, FCA and associate across HSE, e
Slide 30: Appendix
5 Appendix 29
Slide 31: Corporate Social Responsibility
Corporate Social Responsibility Approved CSR Projects – FY25-26 Ongoing CSR Projects – FY26-27 Project Brief J Project Brief • Construction of Anganwadis in Phase - II in 25 Districts of Gujarat, under the • Setting up of Battery Research and Testing laboratory. R&D to promote battery area of Educat
Slide 32: Safe, Reliable & Responsible Operations
Safe, Reliable & Responsible Operations 24×7 Network Surveillance Proactive Asset Integrity QHSE & Community Responsibility • Round the clock SCADA based supervision of the • Monthly and quarterly field inspections, and annual • Integrated QHSE policy across pipeline design, entire pipeline network
Slide 33: Glossary
Glossary GP Abbreviation Full Form Abbreviation Full Form BPCL Bharat Petroleum Corporation Limited IOCL Indian Oil Corporation Limited CGD City Gas Distribution LNG Liquefied Natural Gas EPC Engineering, Procurement and Construction LP Low Pressure GIGL GSPL India Gasnet Limited MMSCMD Million Metr
Slide 34: Thank You
Thank You GSPL Transmission Limited Amit Shah / Amita Dave Email: [email protected] / [email protected] d Ernst & Young LLP Krishna Patel / Hiral Keniya / Yashvi Jain EY Email: [email protected] / [email protected] / [email protected] 33