Reported Earnings • Aug 01
First quarter 2027 earnings: EPS and revenues exceed analyst expectations First quarter 2027 results: EPS: ₹7.10 (up from ₹3.60 in 1Q 2026). Revenue: ₹412.0b (up 17% from 1Q 2026). Net income: ₹46.7b (up 97% from 1Q 2026). Profit margin: 11% (up from 6.7% in 1Q 2026). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 105%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. Announcement • Jul 22
GAIL (India) Limited, Annual General Meeting, Aug 27, 2026 GAIL (India) Limited, Annual General Meeting, Aug 27, 2026, at 11:30 Indian Standard Time. Announcement • Jul 21
GAIL (India) Limited to Report Q1, 2027 Results on Jul 31, 2026 GAIL (India) Limited announced that they will report Q1, 2027 results on Jul 31, 2026 Reported Earnings • May 22
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: ₹11.53 (down from ₹18.93 in FY 2025). Revenue: ₹1.42t (flat on FY 2025). Net income: ₹75.8b (down 39% from FY 2025). Profit margin: 5.4% (down from 8.8% in FY 2025). Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 1.9% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Announcement • May 11
GAIL (India) Limited to Report Q4, 2026 Results on May 21, 2026 GAIL (India) Limited announced that they will report Q4, 2026 results on May 21, 2026 Announcement • Mar 11
Gail (India) Limited Appoints Rohit Mathur, Government Nominee Director, Effective from March 9, 2026 GAIL (India) Limited announced the appointment Of Rohit Mathur, Joint Secretary, Ministry of Petroleum & Natural Gas (MoP&NG) (DIN:08216731) on the Board as Government Nominee Director of the Company with effect from March 9, 2026 for a period of three years on co-terminus basis or until further orders, whichever is earlier. The Company is taking necessary action to complete the appointment formalities and requisite disclosures in this regard will be submitted in due course. Buy Or Sell Opportunity • Mar 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to ₹149. The fair value is estimated to be ₹191, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Declared Dividend • Feb 04
Dividend of ₹5.00 announced Shareholders will receive a dividend of ₹5.00. Ex-date: 5th February 2026 Payment date: 2nd March 2026 Dividend yield will be 3.6%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Feb 03
Price target increased by 14% to ₹235 Up from ₹206, the current price target is an average from 31 analysts. New target price is 44% above last closing price of ₹163. Stock is down 8.6% over the past year. The company is forecast to post earnings per share of ₹11.59 for next year compared to ₹18.93 last year. New Risk • Feb 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.0% Last year net profit margin: 9.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.0% net profit margin). Reported Earnings • Feb 01
Third quarter 2026 earnings released: EPS: ₹2.67 (vs ₹6.21 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.67 (down from ₹6.21 in 3Q 2025). Revenue: ₹351.7b (down 4.5% from 3Q 2025). Net income: ₹17.6b (down 57% from 3Q 2025). Profit margin: 5.0% (down from 11% in 3Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 20% per year. Announcement • Jan 23
GAIL (India) Limited to Report Q3, 2026 Results on Jan 31, 2026 GAIL (India) Limited announced that they will report Q3, 2026 results on Jan 31, 2026 Announcement • Nov 22
GAIL (India) Limited Announces Cessation of Gail (India) Limited as Director, Effective November 22, 2025 GAIL (India) Limited announced that pursuant to Ministry of Petroleum & Natural Gas letter No. A-22012/1/2018-Estt-PNG; E-25372 dated November 20, 2025, Ms. c, Government Nominee Director (DIN 09831741), ceases to be Director of the Company with effect from November 22, 2025. Reported Earnings • Nov 02
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹3.00 (down from ₹4.10 in 2Q 2025). Revenue: ₹355.4b (up 4.9% from 2Q 2025). Net income: ₹19.7b (down 27% from 2Q 2025). Profit margin: 5.6% (down from 7.9% in 2Q 2025). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 2.9% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 24
GAIL (India) Limited to Report Q2, 2026 Results on Oct 31, 2025 GAIL (India) Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Oct 31, 2025 Announcement • Aug 29
Gail (India) Limited Approves Final Dividend for the Financial Year 2024-25 GAIL (India) Limited at its AGM held on August 29, 2025 approved to declare final dividend for the Financial Year 2024-25 @ 10.00% INR 1.00/- per equity share) on the paid-up equity share capital of the Company. Reported Earnings • Jul 29
First quarter 2026 earnings released: EPS: ₹3.60 (vs ₹4.84 in 1Q 2025) First quarter 2026 results: EPS: ₹3.60 (down from ₹4.84 in 1Q 2025). Revenue: ₹353.1b (up 1.6% from 1Q 2025). Net income: ₹23.7b (down 26% from 1Q 2025). Profit margin: 6.7% (down from 9.2% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.6% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 28
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 04 August 2025. Payment date: 28 September 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (2.5%). Announcement • Jul 22
GAIL (India) Limited, Annual General Meeting, Aug 29, 2025 GAIL (India) Limited, Annual General Meeting, Aug 29, 2025, at 11:30 Indian Standard Time. Announcement • Jul 21
GAIL (India) Limited to Report Q1, 2026 Results on Jul 28, 2025 GAIL (India) Limited announced that they will report Q1, 2026 results on Jul 28, 2025 New Risk • Jul 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 14
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹18.93 (up from ₹15.06 in FY 2024). Revenue: ₹1.42t (up 6.5% from FY 2024). Net income: ₹124.5b (up 26% from FY 2024). Profit margin: 8.8% (up from 7.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.9%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 2.7% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 06
GAIL (India) Limited to Report Q4, 2025 Results on May 13, 2025 GAIL (India) Limited announced that they will report Q4, 2025 results on May 13, 2025 Announcement • Mar 28
Gail (India) Limited Announces Appointment of Shri Yajurvendra Anil Mahajan as Non-Official Independent Directors, Effective 28 March 2025 GAIL (India) Limited announced appointments Committee of the Cabinet (A.CC) has approved the appointment of Shri Yajurvendra Anil Mahajan as Non-Official Independent Directors on the Board of Directors of the Company for a period of one year with effect from 28 March 2025 or until further orders. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹181, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Gas Utilities industry in India. Total returns to shareholders of 100% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹187 per share. Price Target Changed • Feb 04
Price target decreased by 7.2% to ₹215 Down from ₹232, the current price target is an average from 32 analysts. New target price is 21% above last closing price of ₹178. Stock is down 1.9% over the past year. The company is forecast to post earnings per share of ₹15.19 for next year compared to ₹15.06 last year. Declared Dividend • Feb 01
Dividend increased to ₹6.50 Dividend of ₹6.50 is 18% higher than last year. Ex-date: 7th February 2025 Payment date: 1st March 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.9% over the next 2 years. However, it would need to fall by 62% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹6.21 (vs ₹4.86 in 3Q 2024) Third quarter 2025 results: EPS: ₹6.21 (up from ₹4.86 in 3Q 2024). Revenue: ₹368.3b (up 6.2% from 3Q 2024). Net income: ₹40.8b (up 28% from 3Q 2024). Profit margin: 11% (up from 9.2% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Jan 23
GAIL (India) Limited to Report Q3, 2025 Results on Jan 30, 2025 GAIL (India) Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Buy Or Sell Opportunity • Jan 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to ₹172. The fair value is estimated to be ₹218, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 6.2%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to decline by 1.9% in the next 2 years. Reported Earnings • Nov 07
Second quarter 2025 earnings released: EPS: ₹4.10 (vs ₹3.72 in 2Q 2024) Second quarter 2025 results: EPS: ₹4.10 (up from ₹3.72 in 2Q 2024). Revenue: ₹338.9b (up 2.7% from 2Q 2024). Net income: ₹26.9b (up 10% from 2Q 2024). Profit margin: 7.9% (up from 7.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.8% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 06
Now 23% overvalued Over the last 90 days, the stock has fallen 8.1% to ₹209. The fair value is estimated to be ₹170, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has declined by 7.3%. Revenue is forecast to grow by 7.3% in 2 years. Earnings are forecast to decline by 1.7% in the next 2 years. Announcement • Oct 29
GAIL (India) Limited to Report Q2, 2025 Results on Nov 05, 2024 GAIL (India) Limited announced that they will report Q2, 2025 results on Nov 05, 2024 New Risk • Oct 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (dividend per share is over 42x cash flows per share). Price Target Changed • Aug 03
Price target increased by 9.1% to ₹227 Up from ₹208, the current price target is an average from 32 analysts. New target price is approximately in line with last closing price of ₹237. Stock is up 106% over the past year. The company is forecast to post earnings per share of ₹15.78 for next year compared to ₹15.06 last year. Announcement • Aug 01
GAIL (India) Limited, Annual General Meeting, Aug 28, 2024 GAIL (India) Limited, Annual General Meeting, Aug 28, 2024, at 11:30 Indian Standard Time. Reported Earnings • Jul 31
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: ₹4.84 (up from ₹2.73 in 1Q 2024). Revenue: ₹350.4b (up 6.9% from 1Q 2024). Net income: ₹31.8b (up 78% from 1Q 2024). Profit margin: 9.1% (up from 5.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 54%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Announcement • Jul 23
GAIL (India) Limited to Report Q1, 2025 Results on Jul 30, 2024 GAIL (India) Limited announced that they will report Q1, 2025 results on Jul 30, 2024 New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 42x cash flows per share). Share price has been volatile over the past 3 months (8.0% average weekly change). Reported Earnings • May 17
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹15.06 (up from ₹8.52 in FY 2023). Revenue: ₹1.35t (down 7.7% from FY 2023). Net income: ₹99.0b (up 76% from FY 2023). Profit margin: 7.4% (up from 3.9% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.0%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.9% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • May 10
GAIL (India) Limited to Report Q4, 2024 Results on May 16, 2024 GAIL (India) Limited announced that they will report Q4, 2024 results at 12:08 PM, Indian Standard Time on May 16, 2024 Buy Or Sell Opportunity • Apr 03
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to ₹189. The fair value is estimated to be ₹156, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 8.7%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 9.0% per annum over the same time period. Buy Or Sell Opportunity • Feb 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 44% to ₹178. The fair value is estimated to be ₹147, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 8.7%. Revenue is forecast to grow by 6.3% in 2 years. Earnings are forecast to grow by 26% in the next 2 years. Price Target Changed • Jan 30
Price target increased by 13% to ₹171 Up from ₹151, the current price target is an average from 30 analysts. New target price is approximately in line with last closing price of ₹172. Stock is up 81% over the past year. The company is forecast to post earnings per share of ₹14.01 for next year compared to ₹8.52 last year. Announcement • Jan 30
GAIL (India) Limited Declares Interim Dividend for the Fiscal Year 2024 GAIL (India) Limited declared an interim dividend of 55% for the fiscal year 2024, that is INR 5.50 per equity share. Reported Earnings • Jan 30
Third quarter 2024 earnings released: EPS: ₹4.86 (vs ₹0.63 in 3Q 2023) Third quarter 2024 results: EPS: ₹4.86 (up from ₹0.63 in 3Q 2023). Revenue: ₹351.8b (down 2.0% from 3Q 2023). Net income: ₹31.9b (up ₹27.8b from 3Q 2023). Profit margin: 9.1% (up from 1.2% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 3.8% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • Jan 19
GAIL (India) Limited to Report Q3, 2024 Results on Jan 29, 2024 GAIL (India) Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Announcement • Nov 29
GAIL (India) Limited Appoints Rajeev Kumar Singhal as Director (Business Development) This is to inform that a letter bearing no. CA-31022/5/2021-PNG (40321) dated- November 28, 2023 has been received from the Ministry of Petroleum and Natural Gas, Government of India (MoP&NG) nominating Shri Rajeev Kumar Singhal, Executive Director, GAIL (?India)? Limited as Director (Business Development) with effect from the date of his assumption of charge of the post till the date of his superannuation i.e. November 29, 2028, or until further orders, whichever is the earlier. Announcement • Nov 01
M V Iyer Ceased to be Director of GAIL (India) Limited GAIL (India) Limited announced that Shri M V Iyer, Director (Business Development) ceased to be Director of the Company w,e.f November 1, 2023 consequent upon his superannuation on October 31, 2023 from the services of GAIL. Further, Ministry of Petroleum & Natural Gas vide its Letter No. CA-31022/2/2023-PNG (47901) dated 31.10.2023 entrusted the additional charge of the post of Director (Business Development) to Shri Sanjay Kumar, Director (Marketing) for a period of three months from 01, 11.2023 or till the appointment of a regular incumbent to the post or until further orders, whichever is the earliest. Reported Earnings • Nov 01
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: ₹3.72 (up from ₹2.00 in 2Q 2023). Revenue: ₹332.6b (down 14% from 2Q 2023). Net income: ₹24.4b (up 86% from 2Q 2023). Profit margin: 7.3% (up from 3.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 27%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.5% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Oct 26
Gail (India) Limited Announces Change in Directorate GAIL (India) Limited announced the appointment of Shri Asheesh Joshi, Joint Secretary, MoP&NG, in place of Shri Praveen M. Khanooja, Additional Secretary, MoP&NG as a Government Nominee Director w.e.f. 18 October 2023 on GAIL's Board is as under: Shri Asheesh Joshi is an IAS Officer of 2006 batch belonging to Uttarakhand Cadre. He was Secretary (Additional Charge) of Drinking Water & Sanitation Department, Govt. of Uttarakhand prior to his posting in the Ministry of Petroleum and Natural Gas. He possesses rich experience of holding the position of District Magistrate and working at Senior Position in various Departments such as Housing, Home, Agriculture, Finance, Land Revenue, Planning, Energy, Tourism and Rural Development in the Govt. of Uttarakhand. Announcement • Oct 21
GAIL (India) Limited to Report Q2, 2024 Results on Oct 31, 2023 GAIL (India) Limited announced that they will report Q2, 2024 results on Oct 31, 2023 Price Target Changed • Aug 03
Price target increased by 7.1% to ₹129 Up from ₹121, the current price target is an average from 30 analysts. New target price is 12% above last closing price of ₹116. Stock is up 24% over the past year. The company is forecast to post earnings per share of ₹12.11 for next year compared to ₹8.52 last year. Reported Earnings • Jul 29
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ₹8.52 (down from ₹18.40 in FY 2022). Revenue: ₹1.46t (up 57% from FY 2022). Net income: ₹56.2b (down 54% from FY 2022). Profit margin: 3.9% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 31%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 10% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 14
Gail (India) Limited Announces Appointment of Shri Sanjay Kumar as Director (Marketing) on the Board of Directors GAIL (India) Limited announced regarding nomination of Shri Sanjay Kumar, Executive Director (Marketing), GAIL as Director (Marketing) on the Board of Directors of the Company with effect from the date of his assumption of charge of the post till the date of his superannuation i.e. June 30, 2027, or until further orders, whichever is the earlier Shri Sanjay Kumar is a graduate in Mechanical Engineering from IIT Kharagpur. He also holds a Master of Business Administration (MBA) degree. He joined GAIL in the year 1988 and over the next 3 decades has worked in various roles across domains experience has enabled him to gain deep insight on all aspects of the gas and LNG value chain. Shri Sanjay Kumar played important role in developing GAIL's overseas LNG trading subsidiary GAIL Global (Singapore) Pte. Ltd. into a standalone entity that is now well established in the global LNG business. In GAIL, Shri Sanjay Kumar was responsible for overseeing GAIL's Gas Marketing and Transmission business. Presently, he is the Managing Director of Indraprastha Gas Limited (IGL), the largest CNG distribution company of India. Announcement • Jun 03
GAIL (India) Limited (NSEI:GAIL) Completed the acquisition of JBF Petrochemicals Limited. GAIL (India) Limited (NSEI:GAIL) agreed to acquire JBF Petrochemicals Limited on October 18, 2022. GAIL participated in the process of Request for Resolution plan for JBF Petrochemicals in the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC). The transaction was approved by committee of creditors.
GAIL (India) Limited (NSEI:GAIL) Completed the acquisition of JBF Petrochemicals Limited on June 1, 2023. Reported Earnings • May 19
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ₹8.52 (down from ₹18.40 in FY 2022). Revenue: ₹1.47t (up 59% from FY 2022). Net income: ₹56.2b (down 54% from FY 2022). Profit margin: 3.8% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 31%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is expected to decline by 17% p.a. on average during the next 2 years, while revenues in the Gas Utilities industry in Asia are expected to grow by 4.0%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 17
Gail (India) Limited Announces Board Appointments Shri Praveen Mal Khanooja, Additional Secretary, MoP&NG and Shri Kushagra Mittal, Deputy Secretary, MoP&NG are nominated as Government Nominee Directors on the Board of Directors of GAIL (India) Limited with effect from May 16, 2023. for a period of three years on co-terminus basis or until further orders, whichever is earlier. Announcement • May 11
GAIL (India) Limited to Report Q4, 2023 Results on May 18, 2023 GAIL (India) Limited announced that they will report Q4, 2023 results on May 18, 2023 Announcement • Feb 18
GAIL Eyeing Stake in LNG Plant, Long-Term Deals in US GAIL (India) Limited (NSEI:GAIL) is seeking a stake in a liquefied natural gas (LNG) export terminal in the US along with a long-term supply of one million tonnes per annum of LNG, according to the expression of interest document issued by the company. The company is exploring the opportunity to acquire up to 26% equity in an existing LNG liquefaction plant or a project that will be commissioned latest by 2027. It is also seeking to source 1 million tonnes per annum of LNG from the US plant on a free-on-board basis for 15 years, starting tentatively from the last quarter of 2026. The purchase contract can be extended by another 5 or 10 years. US LNG terminal operators or project developers can submit their expression of interest by March 10, 2023. Announcement • Feb 10
GAIL (India) Limited Appoints Shri Roshan Lal Arya as Non-Official Independent Director GAIL (India) Limited appointed Shri Roshan Lal Arya as Non-Official Independent Director on the Board of the company for a period of three years with effect from the date of the notification of his appointment, or until further order, whichever is earlier. Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: ₹0.63 (vs ₹5.67 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.63 (down from ₹5.67 in 3Q 2022). Revenue: ₹363.9b (up 39% from 3Q 2022). Net income: ₹4.14b (down 89% from 3Q 2022). Profit margin: 1.1% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Asia are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jan 24
GAIL (India) Limited to Report Q3, 2023 Results on Jan 30, 2023 GAIL (India) Limited announced that they will report Q3, 2023 results at 12:08 PM, Indian Standard Time on Jan 30, 2023 Board Change • Nov 16
High number of new and inexperienced directors There are 12 new directors who have joined the board in the last 3 years. The company's board is composed of: 12 new directors. No experienced directors. No highly experienced directors. Director of Business Development & Director of Marketing Mahesh Vishwanathan Iyer is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 05
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: ₹2.00 (down from ₹4.33 in 2Q 2022). Revenue: ₹389.7b (up 79% from 2Q 2022). Net income: ₹13.2b (down 54% from 2Q 2022). Profit margin: 3.4% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is expected to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Asia are expected to grow by 5.7%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 22
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ₹111, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 2.5% in 2 years. Earnings is forecast to decline by 33% in the next 2 years. Buying Opportunity • Aug 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be ₹166, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to decline by 33% in the next 2 years. Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: ₹7.34 (vs ₹4.81 in 1Q 2022) First quarter 2023 results: EPS: ₹7.34 (up from ₹4.81 in 1Q 2022). Revenue: ₹379.0b (up 116% from 1Q 2022). Net income: ₹32.5b (up 52% from 1Q 2022). Profit margin: 8.6% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 25
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 01 August 2022. Payment date: 25 September 2022. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 7.1%. Within top quartile of Indian dividend payers (1.7%). Higher than average of industry peers (1.2%). Reported Earnings • May 30
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ₹27.60 (up from ₹13.61 in FY 2021). Revenue: ₹927.7b (up 62% from FY 2021). Net income: ₹122.6b (up 100% from FY 2021). Profit margin: 13% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.8%. Over the next year, revenue is forecast to grow 10%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. Chairman, MD, Director of Projects & Director of Human Resources Manoj Jain is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 23% share price gain to ₹159, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Gas Utilities industry in Asia. Total returns to shareholders of 5.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹181 per share. Buying Opportunity • Feb 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.4%. The fair value is estimated to be ₹173, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% per annum over the last 3 years. Earnings per share has grown by 16% per annum over the last 3 years. Reported Earnings • Feb 08
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: ₹8.51 (up from ₹4.18 in 3Q 2021). Revenue: ₹266.0b (up 70% from 3Q 2021). Net income: ₹37.8b (up 101% from 3Q 2021). Profit margin: 14% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 45%. Over the next year, revenue is forecast to grow 13%, compared to a 13% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Jan 01
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. Chairman, MD, Director of Projects & Director of Human Resources Manoj Jain is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Executive Departure • Dec 02
Director of Finance, CFO & Director Anjani Tiwari has left the company On the 1st of December, Anjani Tiwari's tenure as Director of Finance, CFO & Director ended after 3.0 years in the role. As of September 2021, Anjani still personally held only 586.00 shares (₹93k worth at the time). A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 1.63 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Nov 03
Second quarter 2022 earnings released: EPS ₹6.49 (vs ₹2.47 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹217.6b (up 58% from 2Q 2021). Net income: ₹28.8b (up 159% from 2Q 2021). Profit margin: 13% (up from 8.1% in 2Q 2021). The increase in margin was driven by higher revenue. Executive Departure • Aug 07
Part-time Non-official Independent Director Banto Kataria has left the company On the 6th of August, Banto Kataria's tenure as Part-time Non-official Independent Director ended after 3.0 years in the role. We don't have any record of a personal shareholding under Banto's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.67 years. Reported Earnings • Aug 06
First quarter 2022 earnings released: EPS ₹4.81 (vs ₹1.45 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹177.0b (up 45% from 1Q 2021). Net income: ₹21.4b (up 227% from 1Q 2021). Profit margin: 12% (up from 5.4% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Jun 11
Full year 2021 earnings released: EPS ₹13.61 (vs ₹20.89 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹573.7b (down 21% from FY 2020). Net income: ₹61.4b (down 35% from FY 2020). Profit margin: 11% (down from 13% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 11
Price target increased to ₹178 Up from ₹164, the current price target is an average from 7 analysts. New target price is 8.9% above last closing price of ₹164. Stock is up 70% over the past year. Executive Departure • Jun 09
Part-Time Government Nominee Director Ashish Chatterjee has left the company On the 1st of June, Ashish Chatterjee's tenure as Part-Time Government Nominee Director ended after 4.4 years in the role. We don't have any record of a personal shareholding under Ashish's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.50 years. Executive Departure • Apr 02
Director of Human Resources & Whole-Time Director has left the company On the 1st of April, Prafulla Gupta's tenure in the role of Director of Human Resources & Whole-Time Director ended. We don't have any record of a personal shareholding under Prafulla's name. A total of 3 executives have left over the last 12 months. Is New 90 Day High Low • Feb 20
New 90-day high: ₹145 The company is up 49% from its price of ₹97.45 on 21 November 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 41% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹91.91 per share. 
