GAIL logo

GAIL

GAIL NSE

Key Fundamentals

LargecapGasEnergy
Market Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
11.39
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

6d ago
AI opinion · based on fundamentals
Risk medium

GAIL (India) Ltd has a market capitalisation of about ₹1,13,092 crore. It trades at a P/E of 11.6x and a P/B of 1.28x, with a dividend yield of 3.16% and a dividend payout of 41.3%. Profit has compounded at 15% over 10 years and 10% over 3 years. However, 3-year sales CAGR is -1%, return on equity fell to 9% last year against a 10-year average of 13%, and the stock returned 0% over the past year.

Bull Case 7
  • Valuation looks modest at a P/E of 11.6x and a P/B of 1.28x. For a company with a ₹1,13,092 crore market cap, that implies limited premium expectations.
  • Dividend yield of 3.16%, backed by a steady payout ratio of 41.3%, gives a meaningful cash return to shareholders.
  • Profit has compounded at 15% over 10 years, ahead of the 11% 10-year sales CAGR. This points to better margins or operating leverage over the long run.
  • 3-year profit CAGR of 10% contrasts with a -1% 3-year sales CAGR. Earnings grew despite flat-to-declining revenue, which suggests the company managed costs or its business mix well.
  • 5-year sales CAGR of 20% shows the company can grow the top line when gas prices and volumes are favourable.
  • The stock has compounded at 13% over 3 years and 11% over 5 years, and dividends come on top of those price returns.
  • TTM sales growth of 4% is a slight recovery from the -1% 3-year sales trend.
Bear Case 7
  • Return on equity fell to 9% last year, below the 3-year average of 11%, the 5-year average of 12% and the 10-year average of 13%. Capital efficiency is steadily declining.
  • 3-year average ROE of 11.3% is low and may be close to or below the cost of equity for a capital-intensive business.
  • 3-year sales CAGR of -1% shows the top line has stalled. Revenue is highly exposed to gas price swings and pass-through pricing.
  • TTM profit growth of only 1% suggests earnings momentum has slowed sharply from the 10% 3-year profit CAGR.
  • The stock returned 0% over 1 year, so it has not rerated despite a low 11.6x P/E.
  • 5-year profit CAGR of 4% trails the 20% 5-year sales CAGR, which points to margin compression over that period.
  • 10-year stock CAGR of 9% is below the 15% 10-year profit CAGR. The valuation multiple has contracted over time, possibly because of regulatory and state-ownership concerns.

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

AI News Digest

1d ago
Headwinds 3
  • LNG above $20 hurts demand Sep 14

    At an energy forum in Bangkok, GAIL Chairman Deepak Gupta warned that LNG prices above $20/mmBtu are cutting gas demand in India. As India's largest gas distributor, GAIL faces pressure on volume growth and on India's energy transition plans.

  • Middle East hits industrial gas Sep 21

    In an April 26 report, India Ratings said the Middle East conflict has reduced LNG shipments and led to curtailed gas supplies to industrial customers. This may hurt GAIL Gas industrial volumes in the near term, though higher-margin CNG with priority allocation should partly offset it.

  • Weak 12-month stock performance Sep 22

    Even after a 27%+ rally over six months, GAIL shares are down about 5% over 12 months. Shares also gave up an early 1% gain to trade around ₹172.24 (down 0.2%) on Sep 22.

Positives 4
  • UBS lifts target to ₹215 Sep 22

    UBS kept its 'Buy' rating and raised its target from ₹205 to ₹215, implying 25% upside, valuing GAIL at 12x FY28 consolidated earnings. It also raised consolidated EBITDA estimates by 16% for FY27 and 3% for FY28.

  • Transmission share of EBITDA rising Sep 22

    UBS expects transmission to contribute 45% of standalone EBITDA in FY27 and 52% in FY28. It cites resilient domestic gas demand and healthy LNG arrivals, with lower Henry Hub prices and higher crude adding upside for the commodity businesses.

  • GAIL Gas IPO unlocks value Sep 21

    GAIL Gas has begun appointing up to four book-running lead managers for an IPO of up to ₹3,100 crore, after PNGRB approved the transfer of 6 CGD areas from GAIL on Sep 17 (consideration about ₹1,500 crore). GAIL Gas posted FY26 turnover of ₹12,681 crore, up from ₹12,229 crore, and operates in 16 geographical areas across nine states.

  • Strong analyst consensus Sep 22

    Per Bloomberg, 21 of 32 analysts rate GAIL 'Buy', 9 'Hold' and 2 'Sell'. The consensus target of ₹195.23 implies about 13% upside from ₹172.61, and ICICI Securities and Kotak also have ₹215 targets.

Neutral 4
  • Manoj Kumar Sharma joins as Director (Projects) Sep 18

    The board approved Manoj Kumar Sharma as Additional Director (Projects) on Sep 18, following an MoPNG nomination dated Sep 17, with tenure running to April 30, 2031. He has 30+ years of experience, including heading IOCL's 5,700+ km Eastern Region pipeline network.

  • Rajeev Kumar named Govt director Sep 30

    The Ministry of Petroleum & Natural Gas nominated Shri Rajeev Kumar as Government Nominee Director, effective September 30, 2026.

  • Investor and analyst meets Sep 14

    GAIL held analyst meetings at the UBS India Summit in Mumbai on Sep 10. It also hosted an investor meet in New Delhi on Sep 21 as part of the Asia Energy Security Field Trip.

  • Joint statutory auditors for FY27 Sep 9

    As directed by the CAG, Ravi Rajan & Co. LLP and Arun K Agarwal & Associates were appointed joint statutory auditors for FY2026-27.

TL;DR: GAIL's outlook is improving: transmission is set to make up about half of standalone EBITDA by FY28, UBS raised its target to ₹215 (25% upside), and the GAIL Gas IPO of up to ₹3,100 crore could unlock subsidiary value. The main risks are LNG prices above $20/mmBtu cutting demand and Middle East-related supply curbs hitting industrial gas volumes. The stock is up 27%+ over six months but still down about 5% over a year. Upcoming catalysts include progress on GAIL Gas's draft prospectus filing and any easing in LNG prices that lifts pipeline volumes.

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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64 extracted metrics + investor summaries across FY00–FY27.

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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 ₹1,12,612 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 11.39, 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 3.22%.
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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