GAIL (India) Ltd

GAIL (India) Ltd

₹ 207 3.48%
24 Apr 2:04 p.m.
About

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.

Key Points

Business Overview
The Company along with Subsidiary and its JV and Associate is the largest state-owned natural gas processing and distribution Company in India. It has a diversified business portfolio in the sourcing and trading of natural gas, manufacturing of LPG, Liquid hydrocarbons and Petrochemicals, transmission of natural gas and LPG through pipelines, City Gas, etc. It is also engaged in the business of Oil and Gas Exploration and Production. [1]

  • Market Cap 1,35,842 Cr.
  • Current Price 207
  • High / Low 214 / 103
  • Stock P/E 18.6
  • Book Value 92.6
  • Dividend Yield 2.64 %
  • ROCE 10.2 %
  • ROE 9.53 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 50.1%

Cons

  • Company has a low return on equity of 13.5% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Gas Distribution Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
15,454 15,546 17,384 21,511 25,770 26,962 37,562 38,479 35,365 32,843 32,212 31,807 34,236
13,535 12,981 14,973 18,036 21,542 23,247 33,197 36,714 35,104 32,536 29,779 28,315 30,414
Operating Profit 1,920 2,565 2,411 3,475 4,228 3,715 4,366 1,765 261 307 2,433 3,491 3,823
OPM % 12% 16% 14% 16% 16% 14% 12% 5% 1% 1% 8% 11% 11%
471 568 198 774 652 424 180 799 689 1,017 268 561 812
Interest 33 46 47 42 39 46 48 68 105 90 176 172 156
Depreciation 490 476 509 524 532 546 603 619 623 643 636 750 784
Profit before tax 1,868 2,612 2,054 3,682 4,308 3,546 3,894 1,876 223 591 1,889 3,130 3,694
Tax % 20% 27% 26% 22% 24% 24% 25% 18% -10% -2% 25% 23% 23%
1,487 1,908 1,530 2,863 3,288 2,683 2,915 1,537 246 604 1,412 2,405 2,843
EPS in Rs 2.20 2.86 2.30 4.30 4.94 4.03 4.43 2.34 0.37 0.92 2.15 3.66 4.32
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
40,309 47,402 57,354 56,595 51,721 48,149 53,662 75,126 71,880 56,730 91,626 144,250 131,099
34,729 40,979 50,664 51,899 47,420 41,735 46,005 65,563 63,412 50,266 77,788 137,552 121,045
Operating Profit 5,580 6,423 6,690 4,696 4,301 6,414 7,656 9,564 8,468 6,464 13,839 6,698 10,054
OPM % 14% 14% 12% 8% 8% 13% 14% 13% 12% 11% 15% 5% 8%
667 811 1,249 924 870 873 992 1,210 1,420 1,985 2,037 2,686 2,658
Interest 116 195 366 361 800 479 275 139 108 156 174 312 594
Depreciation 791 981 1,171 974 1,310 1,397 1,415 1,550 1,836 1,908 2,111 2,488 2,813
Profit before tax 5,340 6,058 6,402 4,284 3,062 5,411 6,958 9,085 7,943 6,386 13,590 6,584 9,304
Tax % 32% 34% 32% 29% 27% 35% 34% 34% 17% 23% 24% 19%
3,654 4,022 4,375 3,039 2,226 3,503 4,618 6,026 6,621 4,890 10,364 5,302 7,263
EPS in Rs 5.40 5.95 6.47 4.49 3.29 5.18 6.83 8.91 9.79 7.34 15.56 8.06 11.05
Dividend Payout % 30% 30% 30% 25% 31% 54% 44% 27% 44% 45% 43% 62%
Compounded Sales Growth
10 Years: 12%
5 Years: 22%
3 Years: 26%
TTM: -5%
Compounded Profit Growth
10 Years: 3%
5 Years: 3%
3 Years: -7%
TTM: -2%
Stock Price CAGR
10 Years: 11%
5 Years: 11%
3 Years: 32%
1 Year: 83%
Return on Equity
10 Years: 13%
5 Years: 14%
3 Years: 14%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1,268 1,268 1,268 1,268 1,268 1,691 2,255 2,255 4,510 4,440 4,440 6,575 6,575
Reserves 20,357 22,959 25,804 27,851 33,826 36,458 38,073 41,838 39,461 42,171 51,146 49,079 54,329
5,347 9,064 10,268 9,556 8,060 5,063 2,081 1,001 5,762 6,598 7,656 15,730 15,604
9,205 11,414 12,494 14,242 12,643 12,145 15,692 19,304 18,820 19,747 23,123 24,773 25,483
Total Liabilities 36,178 44,705 49,834 52,917 55,797 55,357 58,101 64,398 68,553 72,956 86,365 96,156 101,991
15,858 19,707 20,639 26,925 27,581 27,706 28,067 30,415 33,050 35,981 39,325 43,436 46,813
CWIP 7,942 8,978 9,728 4,360 3,420 3,803 5,514 9,202 10,582 11,903 13,071 13,662 13,727
Investments 2,681 3,719 4,289 4,322 8,585 9,377 9,953 9,624 7,498 9,724 12,121 12,789 14,843
9,696 12,301 15,179 17,309 16,211 14,471 14,567 15,156 17,423 15,347 21,848 26,269 26,609
Total Assets 36,178 44,705 49,834 52,917 55,797 55,357 58,101 64,398 68,553 72,956 86,365 96,156 101,991

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
4,488 5,033 4,922 2,444 4,071 5,761 8,663 7,876 6,888 8,373 8,754 2,808
-7,142 -5,472 -3,232 -964 -671 -380 -2,568 -5,437 -6,829 -4,170 -4,413 -6,553
1,454 1,865 -1,397 -2,989 -3,318 -5,238 -5,470 -3,365 338 -3,539 -4,186 2,552
Net Cash Flow -1,200 1,427 293 -1,509 82 143 624 -925 398 664 155 -1,194

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 17 20 18 20 19 21 21 20 23 22 29 26
Inventory Days 17 16 18 17 14 17 17 15 19 22 16 15
Days Payable 30 31 32 27 25 27 35 25 26 36 28 21
Cash Conversion Cycle 4 4 4 10 8 11 3 10 16 8 17 21
Working Capital Days -18 -16 -6 -2 -11 -4 -18 -1 3 -11 4 12
ROCE % 22% 21% 18% 12% 9% 14% 17% 22% 17% 13% 24% 10%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
51.83% 51.85% 51.80% 51.80% 51.89% 51.90% 51.91% 51.91% 51.91% 51.91% 51.90% 51.90%
16.96% 18.36% 19.69% 19.62% 19.92% 19.79% 18.04% 16.40% 16.09% 14.76% 14.24% 14.17%
19.38% 17.72% 15.26% 15.90% 15.30% 13.93% 15.97% 17.93% 18.06% 19.14% 19.37% 19.56%
7.95% 7.94% 7.93% 7.93% 8.04% 7.91% 7.91% 7.93% 7.93% 7.91% 7.92% 7.63%
3.88% 4.14% 5.32% 4.75% 4.86% 6.47% 6.18% 5.83% 6.01% 6.30% 6.58% 6.75%
No. of Shareholders 5,53,3955,81,1817,12,4517,26,7127,75,6019,64,1229,52,7179,25,2229,07,3399,45,49810,11,14512,27,209

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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