GAIL logo

GAIL

GAIL NSE

Key Fundamentals

LargecapGasEnergy
Market Cap
1.2L Cr
Volatility
Moderate
P/E Ratio
11.55
EBITDA
₹13,020 Cr
Return on Equity
8.49%
Debt to Equity
0.28
Book Value
₹135.43
EPS
₹17.17
52W High
₹186.87
52W Low
₹134.36

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 41.3%

Weaknesses

1
  • Company has a low return on equity of 11.3% over last 3 years.

Growth Rate

Revenue Growth
-0.04% higher than 3Y
Net Income Growth
-39.17% lower than 3Y
Cash Flow Change
-28.48% lower than 3Y
ROE
-41.93% lower than 3Y
ROCE
-40.04% lower than 3Y
EBITDA Margin (Avg.)
-21.96% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

GAIL (India) Ltd is a state-owned energy major with a market cap of ₹1,15,130 Cr, trading at a PE of 11.7x and PB of 1.29x. The company delivers a dividend yield of 3.15% supported by a 41.3% payout ratio, though its 3-year ROE of 11% and flat recent growth (TTM sales growth of 4%, profit growth of 1%) reflect a period of earnings moderation after strong prior years.

Bull Case 7
  • Attractive valuation at PE of 11.7x, which is well below the broader market average, offering a margin of safety for value-oriented investors
  • Healthy dividend yield of 3.15% backed by a consistent payout ratio of 41.3%, providing steady income
  • Price-to-book ratio of 1.29x suggests the stock trades close to its book value, limiting downside from an asset perspective
  • Strong long-term compounded profit growth of 15% over 10 years demonstrates the company's ability to scale earnings over full cycles
  • Compounded sales growth of 20% over 5 years and 11% over 10 years reflects meaningful topline expansion in the medium to long term
  • Stock CAGR of 13% over both 3-year and 5-year periods indicates sustained wealth creation for longer-term holders
  • As India's dominant natural gas transmission and marketing company, GAIL benefits from the government's push to raise the share of natural gas in the energy mix from ~6% to 15%
Bear Case 7
  • 3-year ROE of only 11% (last year dropping to 9%) indicates below-par capital efficiency for a company of this scale
  • TTM profit growth of just 1% signals near-term earnings stagnation despite a growing topline
  • 3-year compounded sales growth is negative at -1%, pointing to revenue volatility linked to commodity price swings
  • 1-year stock CAGR of -3% shows recent underperformance and negative price momentum
  • 5-year compounded profit growth of only 4% lags the 10-year figure of 15% significantly, suggesting earnings quality has deteriorated in recent years
  • As a government-controlled PSU, GAIL faces risks of policy-driven pricing constraints, subsidy burdens, and capital allocation decisions that may not prioritize minority shareholders
  • Last year ROE fell to 9% from the 5-year average of 12%, indicating a declining trend in return generation

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 5
  • Dividend exceeds free cash flow Sep 1

    GAIL distributed dividends equivalent to 162% of free cash flow generated during the year, raising questions about long-term dividend sustainability despite a comfortable 48% payout ratio of profit.

  • Petrochemicals segment loss-making Aug 19

    Petrochemicals segment posted a loss of ₹123 crore in Q1 FY27, with polymer production falling sharply to 51 TMT from 153 TMT in Q4 FY26 due to geopolitical disruptions.

  • Over half LNG capacity underutilised Aug 26

    GAIL noted that more than half of India's ~57.5 MMTPA LNG regasification capacity remains underutilised due to weak domestic gas demand.

  • Gas marketing volume decline Aug 19

    Gas marketing volume fell to 93.82 MMSCMD in Q1 FY27 from 101.88 MMSCMD in Q4 FY26, reflecting external geopolitical disruptions.

  • Strong margins may normalise Aug 19

    Geojit notes Q1 profitability was materially aided by favourable, largely non-recurring pricing gains, suggesting exceptionally strong margins may normalise in subsequent quarters of FY27.

Positives 6
  • Q1 PAT more than doubles YoY Aug 19

    GAIL reported standalone PAT of ₹4,292 crore in Q1 FY27, up 127.5% YoY. Consolidated PAT surged 96.1% YoY to ₹4,671 crore, with EBITDA nearly doubling to ₹7,098 crore and margins expanding 710 bps to 17.65%.

  • Massive expansion plans announced Aug 27

    At its 42nd AGM, GAIL outlined plans including pipeline network approaching 20,000 km (1,500 km under construction), ₹11,256 crore PDH-PP project at Usar, 1.25 MMTPA PTA plant at Mangalore, and two fertilizer plants in Maharashtra and Chhattisgarh with ~₹21,000 crore combined investment.

  • ₹7,000 crore LPG pipeline approval Aug 19

    PNGRB authorised 1,800 km of new LPG pipeline infrastructure across six states at ₹7,000 crore capex, expanding India's common carrier LPG pipeline network from 7,700 km to 9,500 km.

  • Geojit sets ₹200 buy target Aug 19

    Geojit Financial Services issued a buy rating with an SOTP-based target price of ₹200, citing strong Q1 performance with standalone revenue up 12% YoY and EBITDA surging 91.3% YoY.

  • ₹0.50 final dividend declared Sep 1

    GAIL declared a final dividend of ₹0.50 per share for FY26 with Sep 2 record date, offering a 2.9% dividend yield. Shareholders approved FY26 revenue of ₹1,38,697 crore at the AGM.

  • LNG fleet and sourcing growth Aug 27

    LNG sourcing portfolio stands at 16.56 MMTPA with 132 cargoes imported in FY26. GAIL now has access to nine LNG vessels including five under long-term charter, with new 180,000 and 174,000 cubic metre capacity ships added.

Neutral 6
  • Joint statutory auditors appointed Sep 9

    GAIL appointed M/s Ravi Rajan & Co. LLP and M/s Arun K Agarwal & Associates as joint statutory auditors for FY27 per CAG directives.

  • UBS India Summit analyst meet Sep 3

    GAIL scheduled analyst meetings at UBS India Summit 2026 on September 10 in Mumbai, with one-on-one and group sessions planned.

  • GAIL opposes IGX booking platform Aug 26

    GAIL opposed the Indian Gas Exchange's proposed LNG terminal capacity booking platform, arguing it would add transaction costs for consumers without addressing significant inefficiencies.

  • 1.25 MMTPA petchem plant planned Aug 27

    GAIL confirmed plans to set up a 1.25 million tonne per year petrochemical plant in southern Karnataka.

  • Two independent directors appointed Aug 20

    GAIL appointed Smt. Rupa Saikia (Aug 23) and Dr. Banwari Lal (Aug 20) as independent directors to the board.

  • Senior manager voluntarily retires Aug 15

    Shri Lalit Bhatt, a senior management personnel, was relieved from services effective August 14, 2026 following voluntary retirement.

TL;DR: GAIL delivered an exceptional Q1 FY27 with PAT more than doubling YoY and EBITDA margins expanding significantly, backed by strong gas marketing and liquid hydrocarbon performance. The company is pursuing an aggressive multi-pronged expansion across pipelines, petrochemicals, LPG infrastructure, and fertilizers with tens of thousands of crores in planned investment. Key risks include petrochemicals segment losses, declining gas marketing volumes, dividend payouts exceeding free cash flow, and the possibility that Q1's strong margins were driven by non-recurring pricing gains. The trend is positive on growth ambitions and near-term earnings, but investors should watch for margin normalisation and execution risk on the large capex programme through FY27.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
32,789
32,986
34,698
32,756
34,738
33,889
36,835
36,440
35,311
35,537
35,173
35,577
41,198
Expenses
30,128
29,405
30,490
28,908
29,948
29,952
33,665
32,914
31,642
32,077
32,246
34,123
34,100
Operating Profit
2,660
3,580
4,208
3,849
4,790
3,937
3,169
3,526
3,669
3,460
2,927
1,453
7,098
OPM %
8%
11%
12%
12%
14%
12%
9%
10%
10%
10%
8%
4.1%
17%
Other Income
529
595
915
651
685
643
3,211
674
566
516
683
1,250
475
Interest
185
200
176
159
209
188
169
174
213
234
254
263
319
Depreciation
722
837
872
1,241
1,152
922
939
786
993
1,177
1,192
474
987
PBT
2,283
3,138
4,075
3,099
4,114
3,470
5,272
3,240
3,029
2,565
2,165
1,966
6,268
Tax %
21%
22%
22%
20%
23%
22%
23%
23%
21%
22%
20%
25%
25%
Net Profit
1,793
2,442
3,193
2,474
3,183
2,690
4,084
2,506
2,382
1,989
1,729
1,481
4,671
EPS in Rs
2.73
3.72
4.86
3.75
4.84
4.1
6.21
3.79
3.6
3
2.67
2.26
7.1
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
60,557
52,053
48,552
54,496
76,190
72,518
57,372
92,770
1,45,668
1,33,228
1,41,902
1,41,598
1,47,485
Expenses
54,926
47,517
42,531
46,695
66,252
63,495
50,127
77,608
1,38,168
1,18,914
1,26,489
1,30,096
1,32,546
Operating Profit
5,631
4,536
6,021
7,802
9,938
9,022
7,245
15,161
7,500
14,314
15,412
11,502
14,939
OPM %
9%
9%
12%
14%
13%
12%
13%
16%
5%
11%
11%
8%
10%
Other Income
945
731
1,212
948
1,719
3,796
2,833
2,925
2,822
2,672
5,223
3,023
2,924
Interest
652
822
509
295
159
309
179
202
365
719
740
964
1,070
Depreciation
1,433
1,496
1,541
1,527
1,667
2,080
2,174
2,420
2,702
3,672
3,799
3,835
3,829
PBT
4,492
2,949
5,183
6,928
9,831
10,429
7,725
15,464
7,256
12,595
16,096
9,725
12,964
Tax %
32%
37%
35%
31%
33%
9%
20%
20%
23%
21%
23%
22%
—
Net Profit
3,160
1,874
3,374
4,805
6,553
9,515
6,143
12,304
5,596
9,903
12,463
7,582
9,870
EPS in Rs
4.67
2.76
4.98
7.09
9.68
13.93
9.21
18.4
8.54
15.06
18.93
11.53
15.03
Div. Payout %
24%
37%
56%
43%
25%
31%
36%
36%
59%
37%
40%
48%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
1,268
1,268
1,691
2,255
2,255
4,510
4,440
4,440
6,575
6,575
6,575
6,575
Reserves
32,754
35,135
37,614
39,424
43,749
44,758
48,742
59,674
58,352
70,422
78,422
82,474
Borrowings
18,291
9,052
6,553
3,876
2,224
6,912
7,873
9,216
17,816
21,794
21,595
24,831
Other Liabilities
17,355
13,608
12,433
15,798
20,199
18,754
19,975
23,254
25,062
25,944
26,583
26,688
Total Liabilities
69,669
59,063
58,291
61,353
68,426
74,934
81,030
96,584
1,07,805
1,24,735
1,33,176
1,40,569
Fixed Assets
33,976
29,946
30,092
30,480
32,700
38,230
41,160
44,572
49,697
55,188
58,836
68,667
CWIP
13,806
3,688
4,126
5,938
9,738
11,666
13,400
15,490
16,646
23,627
27,421
24,072
Investments
1,272
9,844
10,125
10,452
10,722
9,893
13,058
16,408
17,248
21,910
22,765
26,233
Other Assets
20,615
15,584
13,948
14,482
15,267
15,145
13,413
20,114
24,214
24,010
24,155
21,597
Total Assets
69,669
59,063
58,291
61,353
68,426
74,934
81,030
96,584
1,07,805
1,24,735
1,33,176
1,40,569
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
4,214
3,960
6,024
8,769
7,984
8,345
8,993
9,420
3,205
12,586
15,727
11,249
Investing
-2,809
-904
-334
-2,660
-5,701
-8,299
-4,640
-5,490
-7,453
-8,226
-6,615
-8,856
Financing
-3,058
-3,028
-5,275
-5,252
-3,364
281
-3,471
-3,917
2,972
-3,457
-8,941
-2,750
Net Cash Flow
-1,653
29
415
858
-1,081
328
882
13
-1,276
902
171
-358
Free Cash Flow
1,498
2,500
4,029
5,370
443
-890
3,309
2,481
-5,548
98
7,818
2,451
CFO/OP
93
103
120
130
102
121
142
84
64
111
118
113
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
19
19
21
23
21
24
22
29
27
26
27
22
Inventory Days
18
14
17
17
16
21
25
19
17
20
20
16
Days Payable
26
25
27
35
24
25
37
28
20
22
24
19
Cash Conversion Cycle
12
8
11
6
13
20
10
20
23
24
22
19
Working Capital Days
-12
-17
-10
-24
-5
-10
-24
-6
-6
-8
-7
-14
ROCE %
10%
8%
12%
16%
22%
20%
13%
23%
10%
15%
14%
10%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Public5.52%Others1.01%Promot.51.79%Govt.7.50%FIIs14.99%DIIs19.20%As ofJun 2026

Documents

Frequently Asked Questions about GAIL

What does GAIL (India) Ltd do?
Incorporated in 1984, GAIL, a Government of India undertaking, is an integrated natural gas company in India. It owns over 11,500 km of natural gas pipelines, over 2300 km of LPG pipelines, six LPG gas-processing units and a petrochemicals facility. It also has a joint-venture interest in Petrone...
Where is GAIL (India) Ltd (GAIL) listed?
GAIL (India) Ltd trades as GAIL on the NSE and under code 532155 on the BSE.
Which sector does GAIL (India) Ltd belong to?
GAIL (India) Ltd is classified under the Energy sector, in the Gas industry.
What is the market capitalisation of GAIL (India) Ltd?
GAIL (India) Ltd has a market capitalisation of ₹1,15,130 Cr, which places it in the Large Cap band.
What is the PE ratio of GAIL (India) Ltd?
GAIL (India) Ltd trades at a PE ratio of 11.55, on earnings per share of ₹17.17, against a book value of ₹135.43 per share.
What is the 52-week high and low of GAIL (India) Ltd?
Over the last 52 weeks GAIL (India) Ltd has traded between ₹134.36 and ₹186.87.
Does GAIL (India) Ltd pay dividends?
GAIL (India) Ltd has a dividend yield of 3.15%.
What is the Return on Equity (ROE) of GAIL (India) Ltd?
GAIL (India) Ltd reported a return on equity of 8.49%. Its debt-to-equity ratio is 0.28.

Company Information

Incorporated in 1984, GAIL, a Government of India undertaking, is an integrated natural gas company in India. It owns over 11,500 km of natural gas pipelines, over 2300 km of LPG pipelines, six LPG gas-processing units and a petrochemicals facility. It also has a joint-venture interest in Petronet LNG Ltd, Ratnagiri Gas and Power Pvt Ltd, and in the CGD business in several cities. GAIL has wholly owned subsidiaries in Singapore and the US for expanding its presence outside India in the segments of LNG, petrochemical trading and shale gas assets.

Website gailonline.com
CEO Mr. Sandeep Kumar Gupta
Employees 5,010
Listed 1997-04-02
Face Value ₹ 10
Issued Size 6,57,50,99,643

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