GAIL (India) Ltd

₹ 92.8 -1.17%
03 Feb - close price
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

Revenue mix%[1]
Natural gas trading/marketing - 76.5%
Petrochemicals - 7.5%
Natural gas transmission - 7.5%
LPG & other liquid hydrocarbon - 5%
LPG transmission - 1%
City gas - 0.83%
Other - 1.4%

  • Market Cap 61,017 Cr.
  • Current Price 92.8
  • High / Low 116 / 83.0
  • Stock P/E 7.26
  • Book Value 100
  • Dividend Yield 7.18 %
  • ROCE 23.3 %
  • ROE 20.9 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.93 times its book value
  • Stock is providing a good dividend yield of 7.18%.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 30.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 34.4%

Cons

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
17,883 17,923 12,174 13,799 15,658 15,738 17,571 21,758 26,145 27,295 37,897 38,680 35,885
15,711 15,081 11,480 12,373 13,419 12,855 14,932 18,136 21,518 23,032 33,350 36,777 35,403
Operating Profit 2,171 2,842 694 1,426 2,239 2,882 2,640 3,622 4,627 4,264 4,547 1,904 482
OPM % 12% 16% 6% 10% 14% 18% 15% 17% 18% 16% 12% 5% 1%
1,210 1,612 609 584 705 940 543 757 847 788 419 548 999
Interest 31 216 53 32 37 58 52 46 47 57 58 82 120
Depreciation 535 640 521 546 561 546 590 604 608 619 677 695 699
Profit before tax 2,816 3,599 729 1,432 2,346 3,219 2,540 3,728 4,820 4,375 4,230 1,675 662
Tax % 28% -34% 12% 25% 19% 21% 15% 23% 21% 21% 23% 22% 40%
Net Profit 2,030 4,814 643 1,068 1,897 2,535 2,157 2,873 3,800 3,474 3,251 1,305 398
EPS in Rs 2.99 6.99 0.97 1.64 2.78 3.73 3.21 4.33 5.68 5.19 4.95 2.00 0.63
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
35,070 44,093 50,974 61,765 60,557 52,053 48,552 54,496 76,190 72,518 57,372 92,770 139,757
28,523 37,054 43,547 53,777 54,926 47,517 42,531 46,695 66,252 63,495 50,127 77,608 128,561
Operating Profit 6,547 7,040 7,427 7,988 5,631 4,536 6,021 7,802 9,938 9,022 7,245 15,161 11,196
OPM % 19% 16% 15% 13% 9% 9% 12% 14% 13% 12% 13% 16% 8%
508 722 887 1,247 945 731 1,212 948 1,719 3,796 2,833 2,925 2,753
Interest 378 366 437 669 652 822 509 295 159 309 179 202 317
Depreciation 878 1,041 1,319 1,644 1,433 1,496 1,541 1,527 1,667 2,080 2,174 2,420 2,689
Profit before tax 5,799 6,355 6,558 6,922 4,492 2,949 5,183 6,928 9,831 10,429 7,725 15,464 10,943
Tax % 31% 31% 34% 32% 32% 37% 35% 31% 33% 9% 20% 20%
Net Profit 4,021 4,444 4,367 4,786 3,160 1,874 3,374 4,805 6,553 9,515 6,143 12,304 8,427
EPS in Rs 5.94 6.57 6.46 7.07 4.67 2.76 4.98 7.09 9.68 13.93 9.21 18.40 12.77
Dividend Payout % 24% 25% 28% 28% 24% 37% 56% 43% 25% 31% 36% 36%
Compounded Sales Growth
10 Years: 8%
5 Years: 14%
3 Years: 7%
TTM: 72%
Compounded Profit Growth
10 Years: 11%
5 Years: 31%
3 Years: 22%
TTM: -25%
Stock Price CAGR
10 Years: 4%
5 Years: -4%
3 Years: 4%
1 Year: -5%
Return on Equity
10 Years: 14%
5 Years: 16%
3 Years: 18%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
1,268 1,268 1,268 1,268 1,268 1,268 1,691 2,255 2,255 4,510 4,440 4,440 6,575
Reserves 19,945 23,646 27,526 31,188 32,754 35,135 37,614 39,424 43,749 44,758 48,742 59,674 59,228
6,904 11,506 16,472 18,537 18,291 9,052 6,553 3,876 2,224 6,912 7,873 9,216 14,283
12,034 11,479 14,542 15,872 17,355 13,608 12,433 15,798 20,199 18,754 19,975 23,254 26,058
Total Liabilities 40,152 47,899 59,809 66,865 69,669 59,063 58,291 61,353 68,426 74,934 81,030 96,584 106,144
15,962 19,863 24,303 25,995 32,143 29,946 28,302 28,860 31,475 37,121 40,188 43,718 45,406
CWIP 10,585 14,705 18,376 18,490 13,806 3,688 4,126 5,938 9,738 11,666 13,400 15,490 17,208
Investments 1,236 1,183 1,254 1,282 1,272 9,844 10,125 10,452 10,722 9,893 13,058 16,408 15,993
12,368 12,148 15,876 21,099 22,448 15,584 15,737 16,102 16,493 16,253 14,385 20,968 27,537
Total Assets 40,152 47,899 59,809 66,865 69,669 59,063 58,291 61,353 68,426 74,934 81,030 96,584 106,144

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
4,608 5,111 6,603 4,615 4,214 3,960 6,024 8,769 7,984 8,345 8,993 9,629
-7,036 -9,443 -8,626 -4,466 -2,809 -904 -334 -2,660 -5,701 -8,299 -4,640 -5,699
463 3,194 3,642 -3 -3,058 -3,028 -5,275 -5,252 -3,364 281 -3,471 -3,916
Net Cash Flow -1,964 -1,138 1,618 146 -1,653 29 415 858 -1,081 328 882 13

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 20 19 20 20 19 19 21 23 21 24 22 29
Inventory Days 16 20 18 20 18 14 17 17 16 21 25 19
Days Payable 33 31 33 33 26 25 27 35 24 25 37 28
Cash Conversion Cycle 4 8 5 8 12 8 11 6 13 20 10 20
Working Capital Days -20 -13 -19 -4 -5 -11 -4 -17 0 3 -10 5
ROCE % 24% 21% 17% 15% 10% 8% 12% 16% 22% 21% 13% 23%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
52.06 52.10 52.11 52.12 51.82 51.83 51.85 51.80 51.80 51.89 51.90 51.91
16.30 15.61 15.09 15.62 15.63 16.96 18.36 19.69 19.62 19.92 19.79 18.04
18.31 19.14 20.06 19.89 19.32 19.38 17.72 15.26 15.90 15.30 13.93 15.97
8.31 8.22 8.32 8.32 8.47 7.95 7.94 7.93 7.93 8.04 7.91 7.91
5.02 4.92 4.42 4.05 4.76 3.88 4.14 5.32 4.75 4.86 6.47 6.18

* 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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