GAIL (India) Ltd
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.
- Market Cap ₹ 1,18,661 Cr.
- Current Price ₹ 180
- High / Low ₹ 213 / 151
- Stock P/E 13.2
- Book Value ₹ 134
- Dividend Yield 4.16 %
- ROCE 14.0 %
- ROE 13.1 %
- Face Value ₹ 10.0
Pros
- Stock is providing a good dividend yield of 4.16%.
- Company has been maintaining a healthy dividend payout of 44.9%
Cons
- Company has a low return on equity of 12.1% over last 3 years.
- Earnings include an other income of Rs.4,965 Cr.
* 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
Energy Oil, Gas & Consumable Fuels Gas Gas Transmission/Marketing
Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 BSE PSU
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 61,765 | 60,557 | 52,053 | 48,552 | 54,496 | 76,190 | 72,518 | 57,372 | 92,770 | 145,668 | 133,228 | 141,903 | 144,125 | |
| 53,777 | 54,926 | 47,517 | 42,531 | 46,695 | 66,252 | 63,495 | 50,127 | 77,608 | 138,168 | 118,914 | 126,410 | 130,291 | |
| Operating Profit | 7,988 | 5,631 | 4,536 | 6,021 | 7,802 | 9,938 | 9,022 | 7,245 | 15,161 | 7,500 | 14,314 | 15,493 | 13,834 |
| OPM % | 13% | 9% | 9% | 12% | 14% | 13% | 12% | 13% | 16% | 5% | 11% | 11% | 10% |
| 1,247 | 945 | 731 | 1,212 | 948 | 1,719 | 3,796 | 2,833 | 2,925 | 2,822 | 2,672 | 5,149 | 4,965 | |
| Interest | 669 | 652 | 822 | 509 | 295 | 159 | 309 | 179 | 202 | 365 | 719 | 748 | 798 |
| Depreciation | 1,644 | 1,433 | 1,496 | 1,541 | 1,527 | 1,667 | 2,080 | 2,174 | 2,420 | 2,702 | 3,672 | 3,799 | 3,895 |
| Profit before tax | 6,922 | 4,492 | 2,949 | 5,183 | 6,928 | 9,831 | 10,429 | 7,725 | 15,464 | 7,256 | 12,595 | 16,096 | 14,106 |
| Tax % | 32% | 32% | 37% | 35% | 31% | 33% | 9% | 20% | 20% | 23% | 21% | 23% | |
| 4,786 | 3,160 | 1,874 | 3,374 | 4,805 | 6,553 | 9,515 | 6,143 | 12,304 | 5,596 | 9,903 | 12,463 | 10,961 | |
| EPS in Rs | 7.07 | 4.67 | 2.76 | 4.98 | 7.09 | 9.68 | 13.93 | 9.21 | 18.40 | 8.54 | 15.06 | 18.93 | 16.60 |
| Dividend Payout % | 28% | 24% | 37% | 56% | 43% | 25% | 31% | 36% | 36% | 59% | 37% | 40% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 14% |
| 3 Years: | 15% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 2% |
| 3 Years: | -5% |
| TTM: | -22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 25% |
| 3 Years: | 27% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 14% |
| 3 Years: | 12% |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,268 | 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 | 31,188 | 32,754 | 35,135 | 37,614 | 39,424 | 43,749 | 44,758 | 48,742 | 59,674 | 58,352 | 70,422 | 78,422 | 81,566 |
| 18,537 | 18,291 | 9,052 | 6,553 | 3,876 | 2,224 | 6,912 | 7,873 | 9,216 | 17,816 | 21,794 | 21,595 | 22,433 | |
| 15,872 | 17,355 | 13,608 | 12,433 | 15,798 | 20,199 | 18,754 | 19,975 | 23,254 | 25,062 | 25,944 | 26,583 | 25,897 | |
| Total Liabilities | 66,865 | 69,669 | 59,063 | 58,291 | 61,353 | 68,426 | 74,934 | 81,030 | 96,584 | 107,805 | 124,735 | 133,176 | 136,472 |
| 27,779 | 33,976 | 29,946 | 30,092 | 30,480 | 32,700 | 38,230 | 41,160 | 44,572 | 49,697 | 55,188 | 58,836 | 59,797 | |
| CWIP | 18,490 | 13,806 | 3,688 | 4,126 | 5,938 | 9,738 | 11,666 | 13,400 | 15,490 | 16,646 | 23,627 | 27,421 | 28,038 |
| Investments | 1,282 | 1,272 | 9,844 | 10,125 | 10,452 | 10,722 | 9,893 | 13,058 | 16,408 | 17,248 | 21,910 | 22,765 | 24,172 |
| 19,314 | 20,615 | 15,584 | 13,948 | 14,482 | 15,267 | 15,145 | 13,413 | 20,114 | 24,214 | 24,010 | 24,155 | 24,465 | |
| Total Assets | 66,865 | 69,669 | 59,063 | 58,291 | 61,353 | 68,426 | 74,934 | 81,030 | 96,584 | 107,805 | 124,735 | 133,176 | 136,472 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,615 | 4,214 | 3,960 | 6,024 | 8,769 | 7,984 | 8,345 | 8,993 | 9,420 | 3,205 | 12,586 | 15,735 | |
| -4,466 | -2,809 | -904 | -334 | -2,660 | -5,701 | -8,299 | -4,640 | -5,490 | -7,453 | -8,226 | -6,623 | |
| -3 | -3,058 | -3,028 | -5,275 | -5,252 | -3,364 | 281 | -3,471 | -3,917 | 2,972 | -3,457 | -8,941 | |
| Net Cash Flow | 146 | -1,653 | 29 | 415 | 858 | -1,081 | 328 | 882 | 13 | -1,276 | 902 | 171 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 20 | 19 | 19 | 21 | 23 | 21 | 24 | 22 | 29 | 27 | 26 | 24 |
| Inventory Days | 20 | 18 | 14 | 17 | 17 | 16 | 21 | 25 | 19 | 17 | 20 | 20 |
| Days Payable | 33 | 26 | 25 | 27 | 35 | 24 | 25 | 37 | 28 | 20 | 22 | 24 |
| Cash Conversion Cycle | 8 | 12 | 8 | 11 | 6 | 13 | 20 | 10 | 20 | 23 | 24 | 20 |
| Working Capital Days | -10 | -12 | -17 | -10 | -24 | -5 | -10 | -24 | -6 | -6 | -8 | -8 |
| ROCE % | 15% | 10% | 8% | 12% | 16% | 22% | 20% | 13% | 23% | 10% | 15% | 14% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
4 Nov - Dear Sir/ Madam, This is in continuation to our letter of even no. ND/GAIL/SECTT/2025 dated 25.10.2025. Please find below the link of Earnings Conference Call …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
3 Nov - Newspaper Publication of the Unaudited Financial Results for the quarter ended 30.09.2025
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3 Nov - GAIL to attend UBS (Nov 12), CLSA (Nov 19), JM Financial (Nov 20) investor conferences in Mumbai.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
31 Oct - Audio/video recording of GAIL Q2 FY2025-26 earnings call held 31 Oct 2025.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
31 Oct - Q2 FY26 revenue ₹35,031cr, PAT ₹2,217cr; H1 revenue ₹69,824cr, PAT ₹4,104cr; capex ₹1,662cr.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
from nse
Concalls
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Oct 2025Transcript PPT REC
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Oct 2025TranscriptNotesPPT
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Jul 2025Transcript PPT
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May 2025Transcript PPT
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Mar 2025TranscriptNotesPPT
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Jan 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024TranscriptPPT
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May 2024Transcript PPT
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Jan 2024TranscriptPPT
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Oct 2023Transcript PPT
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Jul 2023TranscriptPPT
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Feb 2023TranscriptNotesPPT
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Feb 2022TranscriptPPT
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Oct 2021TranscriptPPT
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Aug 2021TranscriptPPT
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Jun 2021TranscriptPPT
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Feb 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Aug 2020TranscriptPPT
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Jun 2020TranscriptPPT
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Feb 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Aug 2019TranscriptPPT
Business Overview
GAIL is the largest state-owned natural gas processing and distribution company in India. It has a diversified business portfolio and has interests and has interests in sourcing and trading natural gas, production of LPG, Liquid hydrocarbons,, and petrochemicals, transmission of natural gas and LPG through pipelines, etc. GAIL also has interests in India and overseas in Oil and Gas Blocks, Renewable Energy, CGD, CBG, and Green Hydrogeetc. GAIL also has interests in India and overseas in Oil and Gas Blocks, Renewable Energy, CGD, CBG, and Green Hydrogen. [1]