GAIL (India) Ltd

GAIL (India) Ltd

₹ 181 -0.60%
27 Feb 3:05 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

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 1,19,009 Cr.
  • Current Price 181
  • High / Low 188 / 102
  • Stock P/E 14.9
  • Book Value 111
  • Dividend Yield 3.04 %
  • ROCE 9.76 %
  • ROE 8.69 %
  • Face Value 10.0

Pros

  • Stock is providing a good dividend yield of 3.03%.
  • Company has been maintaining a healthy dividend payout of 43.6%

Cons

  • Company has a low return on equity of 13.8% 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

Consolidated Figures in Rs. Crores / View Standalone

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
15,658 15,738 17,571 21,758 26,145 27,328 37,897 38,680 35,885 33,207 32,789 32,986 34,698
13,419 12,855 14,932 18,136 21,518 23,064 33,350 36,777 35,403 32,651 30,128 29,405 30,489
Operating Profit 2,239 2,882 2,640 3,622 4,627 4,264 4,547 1,904 482 556 2,661 3,580 4,208
OPM % 14% 18% 15% 17% 18% 16% 12% 5% 1% 2% 8% 11% 12%
705 940 543 757 847 788 419 548 999 871 529 595 915
Interest 37 58 52 46 47 57 58 82 120 107 185 200 176
Depreciation 561 546 590 604 608 619 677 695 699 631 722 837 872
Profit before tax 2,346 3,219 2,540 3,728 4,820 4,375 4,230 1,675 662 689 2,283 3,138 4,075
Tax % 19% 21% 15% 23% 21% 21% 23% 22% 40% 7% 21% 22% 22%
1,897 2,535 2,157 2,873 3,800 3,474 3,251 1,305 398 643 1,793 2,442 3,193
EPS in Rs 2.78 3.73 3.21 4.33 5.68 5.19 4.95 2.00 0.63 0.96 2.73 3.72 4.86
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
44,093 50,974 61,765 60,557 52,053 48,552 54,496 76,190 72,518 57,372 92,770 145,668 133,679
37,054 43,547 53,777 54,926 47,517 42,531 46,695 66,252 63,495 50,127 77,608 138,166 122,674
Operating Profit 7,040 7,427 7,988 5,631 4,536 6,021 7,802 9,938 9,022 7,245 15,161 7,502 11,005
OPM % 16% 15% 13% 9% 9% 12% 14% 13% 12% 13% 16% 5% 8%
722 887 1,247 945 731 1,212 948 1,719 3,796 2,833 2,925 2,822 2,910
Interest 366 437 669 652 822 509 295 159 309 179 202 367 668
Depreciation 1,041 1,319 1,644 1,433 1,496 1,541 1,527 1,667 2,080 2,174 2,420 2,702 3,062
Profit before tax 6,355 6,558 6,922 4,492 2,949 5,183 6,928 9,831 10,429 7,725 15,464 7,256 10,185
Tax % 31% 34% 32% 32% 37% 35% 31% 33% 9% 20% 20% 23%
4,444 4,367 4,786 3,160 1,874 3,374 4,805 6,553 9,515 6,143 12,304 5,596 8,071
EPS in Rs 6.57 6.46 7.07 4.67 2.76 4.98 7.09 9.68 13.93 9.21 18.40 8.54 12.27
Dividend Payout % 25% 28% 28% 24% 37% 56% 43% 25% 31% 36% 36% 59%
Compounded Sales Growth
10 Years: 11%
5 Years: 22%
3 Years: 26%
TTM: -4%
Compounded Profit Growth
10 Years: 3%
5 Years: 3%
3 Years: -16%
TTM: -4%
Stock Price CAGR
10 Years: 10%
5 Years: 10%
3 Years: 24%
1 Year: 75%
Return on Equity
10 Years: 13%
5 Years: 15%
3 Years: 14%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 23,646 27,526 31,188 32,754 35,135 37,614 39,424 43,749 44,758 48,742 59,674 58,352 66,284
11,506 16,472 18,537 18,291 9,052 6,553 3,876 2,224 6,912 7,873 9,216 17,816 17,951
11,479 14,542 15,872 17,355 13,608 12,433 15,798 20,199 18,754 19,975 23,254 25,062 25,392
Total Liabilities 47,899 59,809 66,865 69,669 59,063 58,291 61,353 68,426 74,934 81,030 96,584 107,805 116,202
19,863 24,303 25,995 32,143 29,946 28,302 28,860 31,475 37,121 40,188 43,718 48,407 52,278
CWIP 14,705 18,376 18,490 13,806 3,688 4,126 5,938 9,738 11,666 13,400 15,490 16,646 21,124
Investments 1,183 1,254 1,282 1,272 9,844 10,125 10,452 10,722 9,893 13,058 16,408 17,248 18,827
12,148 15,876 21,099 22,448 15,584 15,737 16,102 16,493 16,253 14,385 20,968 25,504 23,973
Total Assets 47,899 59,809 66,865 69,669 59,063 58,291 61,353 68,426 74,934 81,030 96,584 107,805 116,202

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
5,111 6,603 4,615 4,214 3,960 6,024 8,769 7,984 8,345 8,993 9,420 3,205
-9,443 -8,626 -4,466 -2,809 -904 -334 -2,660 -5,701 -8,299 -4,640 -5,490 -7,453
3,194 3,642 -3 -3,058 -3,028 -5,275 -5,252 -3,364 281 -3,471 -3,917 2,972
Net Cash Flow -1,138 1,618 146 -1,653 29 415 858 -1,081 328 882 13 -1,276

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 19 20 20 19 19 21 23 21 24 22 29 27
Inventory Days 20 18 20 18 14 17 17 16 21 25 19 17
Days Payable 31 33 33 26 25 27 35 24 25 37 28 20
Cash Conversion Cycle 8 5 8 12 8 11 6 13 20 10 20 23
Working Capital Days -13 -19 -4 -5 -11 -4 -17 0 3 -10 5 14
ROCE % 20% 17% 15% 10% 8% 12% 16% 22% 20% 13% 23% 10%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.82% 51.83% 51.85% 51.80% 51.80% 51.89% 51.90% 51.91% 51.91% 51.91% 51.91% 51.90%
15.63% 16.96% 18.36% 19.69% 19.62% 19.92% 19.79% 18.04% 16.40% 16.09% 14.76% 14.24%
19.32% 19.38% 17.72% 15.26% 15.90% 15.30% 13.93% 15.97% 17.93% 18.06% 19.14% 19.37%
8.47% 7.95% 7.94% 7.93% 7.93% 8.04% 7.91% 7.91% 7.93% 7.93% 7.91% 7.92%
4.76% 3.88% 4.14% 5.32% 4.75% 4.86% 6.47% 6.18% 5.83% 6.01% 6.30% 6.58%
No. of Shareholders 5,23,2175,53,3955,81,1817,12,4517,26,7127,75,6019,64,1229,52,7179,25,2229,07,3399,45,49810,11,145

* 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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