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GAIL (India)

GAIL NSE
₹186.22 +4.47 (+2.46%)
P/E
12.39
View as Markdown
MCP
Close 4 Nov 2026 ₹186.22 +7.24 +4.05% 1Y
Start ₹178.98

Key Fundamentals

LargecapOil & GasEnergy

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
9.67%
Debt to Equity
0.28
EPS (TTM)
₹15.03
Book Value
₹147.12
Market Cap
—
P/E (TTM)
12.39
P/B
1.27
ROE
8.71%
Dividend Yield
3.03%
EBITDA
₹13,020 Cr
52W High
₹186.87
52W Low
₹134.36
Day Range
₹180.00 – ₹186.34
Volume
1,71,02,057

Peer Comparison

Energy › Gas › Gas Transmission/Marketing

GAIL peer comparison
GAIL (this company)
₹186.2212.39₹1,20,890 Cr1.273.03%8.71%9.67%₹1,47,485 Cr₹9,870 Cr
Energy Infrastructure Trust
₹67.3556.13₹4,416 Cr1.145.83%11.50%5.39%₹3,972 Cr₹80 Cr
Indifra
₹10.30103.00₹8 Cr0.410.00%−0.88%−0.72%₹1 Cr₹0 Cr
Median 3 companies₹67.3556.13₹4,416 Cr1.143.03%8.71%5.39%₹3,972 Cr₹80 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

51 Average

Data confidence 100/100

Category scores

Quality
45
Weak
Returns, margins, earnings quality 22% weight
Valuation
67
Strong
Cheap vs sector & own history 24% weight
Growth
32
Poor
Sales & profit trajectory 9% weight
Financial Health
48
Average
Solvency, leverage, coverage 9% weight
Momentum
58
Good
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish4213
OscillatorsBearish423
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
71.93
Bearish
MACD (12,26,9)
1.77
Bullish
SMA (50)
171.53
Bullish
SMA (200)
166.18
Bullish

As of

Analyst Rating

Based on 31 analysts
BUY77%

24 of 31 analysts rate Buy, 6 Hold, 1 Sell.

As of

BUY
24
77%
HOLD
6
19%
SELL
1
3%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+10.53%
5Y+19.80%
3Y−0.94%
1Y−0.21%
TTM+3.52%

Net profit

Net profit growth by window
10Y+15.00%
5Y+4.30%
3Y+10.65%
1Y−39.16%
TTM−15.37%

Operating cash flow

Operating cash flow growth by window
10Y+11.00%
5Y+4.58%
3Y+51.97%
1Y−28.47%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−0.59 pp
5Y−4.51 pp
3Y+2.97 pp
1Y−2.74 pp
TTM+0.09 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹48,552 Cr
Mar 2018₹54,496 Cr
Mar 2019₹76,190 Cr
Mar 2020₹72,518 Cr
Mar 2021₹57,372 Cr
Mar 2022₹92,770 Cr
Mar 2023₹1,45,668 Cr
Mar 2024₹1,33,228 Cr
Mar 2025₹1,41,902 Cr
Mar 2026₹1,41,598 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹3,374 Cr
Mar 2018₹4,805 Cr
Mar 2019₹6,553 Cr
Mar 2020₹9,515 Cr
Mar 2021₹6,143 Cr
Mar 2022₹12,304 Cr
Mar 2023₹5,596 Cr
Mar 2024₹9,903 Cr
Mar 2025₹12,463 Cr
Mar 2026₹7,582 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹18,616 Cr +43.0% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk medium

GAIL (India) Ltd trades at ₹181.75 as of 2026-11-03 with a market cap of ₹1,19,220 crore, a P/E of 12.09x and a dividend yield of 3.11%. The company shows solid long-term profit compounding at 15% over 10 years but TTM profit growth has decelerated to 1%, while debt remains conservative at a debt-to-equity ratio of 0.28.

Bull Case 6
  • Healthy dividend payout of 41.3% with a current dividend yield of 3.11%, providing meaningful income to shareholders
  • Conservative balance sheet with a debt-to-equity ratio of just 0.28, giving the company financial flexibility for capex and expansion
  • Strong long-term profit compounding at 15% CAGR over 10 years demonstrates sustained earnings growth through multiple cycles
  • 10-year sales CAGR of 11% reflects the company's ability to grow its topline over extended periods
  • Stock is trading near its 52-week high of ₹186.87, indicating positive momentum with the price at ₹181.75 — just 2.7% below the peak
  • 5-year stock CAGR of 10% shows the company has delivered reasonable long-term capital appreciation to shareholders
Bear Case 8
  • TTM profit growth has slowed sharply to just 1%, a significant deceleration from the 10% three-year and 15% ten-year compounded profit growth rates
  • 3-year compounded sales growth is negative at -1%, indicating topline pressure in the medium term despite a 4% TTM recovery
  • Return on equity of 8.49% (current) and 11.3% over 3 years is relatively low, suggesting the company is not generating strong returns on shareholder capital
  • ROCE of 9.12% is modest for an energy infrastructure company, pointing to limited capital efficiency
  • Last year's ROE dropped to 9%, down from the 5-year average of 12% and the 10-year average of 13%, indicating a deteriorating return profile
  • 1-year stock CAGR of -6% shows the stock has underperformed over the recent period despite broader market strength
  • As a gas utility, GAIL's earnings are sensitive to regulated tariffs, government policy on gas pricing, and global LNG price volatility — factors largely outside management's control
  • 5-year compounded profit growth of only 4% versus the 10-year rate of 15% suggests the higher-growth era may be behind the company

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

AI News Digest

9h ago

TL;DR: GAIL delivered a strong Q2FY27 with PAT beating estimates by 40% and polymer production quadrupling, though the headline 139% YoY profit surge is inflated by a weak base and sequential growth is modest at ~1%. Key risks include declining gas marketing volumes from geopolitical disruptions, potentially temporary spread benefits, and the Ratnagiri terminal running at half capacity. The GAIL Gas IPO and ongoing capex execution provide medium-term catalysts, and the stock's low 11x PE suggests room for re-rating if volume recovery materializes in H2FY27.

Headwinds 4
  • Gas marketing volumes declining Oct 30

    H1 FY27 gas marketing averaged 96 MMSCMD vs 104 in FY26, hurt by Qatar's force majeure and West Asia/Hormuz disruption. Overseas sales fell from 14.32 MMSCMD in Q4 FY26 to 8.76 in Q1 FY27.

  • Favorable spreads may be temporary Oct 30

    Management described the gas marketing spread benefit as short-term and kept FY27 gas marketing PBT guidance at ~₹4,500 crore, signaling caution on sustainability.

  • Ratnagiri LNG at half capacity Oct 28

    The Ratnagiri LNG terminal is operating at ~50% of its 5 MTPA capacity because the heating unit is not ready and the external power plant previously supplying heat is non-functional.

Positives 5
  • Q2FY27 PAT beats estimates by 40% Nov 2

    GAIL's standalone Q2FY27 PAT of ₹4,650 crore came in 40% above estimates, while EBITDA of ₹64.1 billion beat consensus by 36%. H1FY27 standalone PAT doubled YoY to ₹8,943 crore.

  • Polymer production quadrupled QoQ Nov 2

    Polymer production surged to 204 TMT in Q2FY27 from just 51 TMT in Q1FY27, reversing the prior quarter's weakness when gas feedstock was diverted to priority sectors.

  • ₹600 Cr Ratnagiri heating unit Oct 28

    GAIL is investing ₹600 crore to build a heating unit at Ratnagiri LNG terminal, due by June 2027, to unlock full 5 MTPA capacity. A captive power plant is also being built as backup.

Neutral 2
  • Exploring US LNG stakes Oct 7

    GAIL is reportedly exploring stakes in US LNG projects to diversify and secure energy supply amid risks to global transportation routes.

  • Low PE vs peers at 11x Oct 30

    GAIL trades at a PE of 11.0, near the low end of its peer group, while pure-play CGD peers like IGL and MGL saw Q1 profits fall ~40% YoY.

Quarterly Results

₹ Cr
GAIL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 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
47,301
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
40,309
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
6,992
OPM %
8%
11%
12%
12%
14%
12%
9%
10%
10%
10%
8%
4.1%
17%
15%
Other Income
529
595
915
651
685
643
3,211
674
566
516
683
1,250
475
445
Interest
185
200
176
159
209
188
169
174
213
234
254
263
319
323
Depreciation
722
837
872
1,241
1,152
922
939
786
993
1,177
1,192
474
987
1,013
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
6,100
Tax %
21%
22%
22%
20%
23%
22%
23%
23%
21%
22%
20%
25%
25%
23%
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
4,724
EPS (₹)
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
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
GAIL profit and loss, annual, ₹ crore
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 (₹)
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%
—

Balance Sheet

₹ Cr
GAIL balance sheet, annual, ₹ crore
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

Cash Flow

₹ Cr
GAIL cash flow, annual, ₹ crore
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

Ratios

GAIL financial ratios, annual
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

Log in to view GAIL insights

67 extracted metrics across FY04–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 51.85%
  • DIIs 17.98%
  • FIIs 16.59%
  • Government 7.51%
  • Public 5.30%
  • Others 0.77%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about GAIL (India)

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.
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 PE ratio of GAIL (India) Ltd?
GAIL (India) Ltd trades at a PE ratio of 12.39 as of 4 Nov 2026, on earnings per share of ₹15.03, against a book value of ₹147.12 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 as of 4 Nov 2026.
Does GAIL (India) Ltd pay dividends?
GAIL (India) Ltd has a dividend yield of 3.03%.
What is the Return on Equity (ROE) of GAIL (India) Ltd?
GAIL (India) Ltd reported a return on equity of 8.71%. 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 2 Apr 1997
Face Value ₹10

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