GAIL (India)

Net sales (including other operating income) of GAIL (India) has increased 10.42% to Rs 35,685.21 crore.  Sales of Natural Gas segment has gone down 2.55% to Rs 2,602.64 crore (accounting for 6.79% of total sales).  Sales of LPG segment has gone up 20.33% to Rs 223.69 crore (accounting for 0.58% of total sales).  Sales of Natural Gas Trading segment rose 11.11% to Rs 31,603.00 crore (accounting for 82.48% of total sales).  Sales of Petrochemicals segment has gone down 2.04% to Rs 2,210.23 crore (accounting for 5.77% of total sales).  Sales of LPG and Liquid Hydrocarbons segment has gone down 19.21% to Rs 1,152.03 crore (accounting for 3.01% of total sales).  Sales of Others segment has gone up 27.83% to Rs 525.58 crore (accounting for 1.37% of total sales).  Inter-segment sales came down from Rs 3,057.78 crore to Rs 2,610.06 crore. 

Profit before interest, tax and other unallocable items (PBIT) has slumped 4.25% to Rs 2,836.98 crore.  PBIT of Natural Gas segment rose 29.10% to Rs 1,268.38 crore (accounting for 44.71% of total PBIT).  PBIT of LPG segment rose 52.39% to Rs 115.21 crore (accounting for 4.06% of total PBIT).  PBIT of Natural Gas Trading segment fell 13.32% to Rs 1,203.67 crore (accounting for 42.43% of total PBIT).  PBIT of Petrochemicals reported loss of Rs 158.01 crore compared to profit of Rs 262.34 crore.  PBIT of LPG and Liquid Hydrocarbons segment fell 10.60% to Rs 291.97 crore (accounting for 10.29% of total PBIT).  PBIT of Others reported profit of Rs 115.76 crore compared to loss of Rs 72.80 crore. 

PBIT margin of Natural Gas segment rose from 36.78% to 48.73%.  PBIT margin of LPG segment rose from 40.67% to 51.50%.  PBIT margin of Natural Gas Trading segment fell from 4.88% to 3.81%.  PBIT margin of Petrochemicals segment fell from 11.63% to 7.15%.  PBIT margin of LPG and Liquid Hydrocarbons segment rose from 22.90% to 25.34%.  PBIT margin of Others segment rose from negative 17.71% to 22.03%.  Overall PBIT margin fell from 8.37% to 7.40%. 

Operating profit margin has declined from 11.01% to 9.01%, leading to 9.60% decline in operating profit to Rs 3,216.37 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 5.69% to 5.20%.   Purchase of finished goods cost rose from 75.09% to 79.07%.   Employee cost decreased from 1.88% to 1.29%.   Other expenses fell from 6.63% to 5.66%.  

Other income fell 11.16% to Rs 566.42 crore.  PBIDT fell 9.84% to Rs 3782.79 crore.  Provision for interest fell 7.69% to Rs 178.32 crore.  

PBDT fell 9.94% to Rs 3604.47 crore.  Provision for depreciation down 22.15% to Rs 903.4 crore.

Profit before tax down 4.95% to Rs 2,701.07 crore.  Provision for tax was expense of Rs 652.04 crore, compared to Rs 664.79 crore.  Effective tax rate was 24.14% compared to 23.39%.

Profit after tax fell 5.88% to Rs 2,049.03 crore. 

Equity capital stood at Rs 6,575.10 crore as of 31 March 2025 to Rs 6,575.10 crore as of 31 March 2024.  Per share face Value remained same at Rs 10.00. 

Promoters' stake was 51.52% as of 31 March 2025 ,compared to 51.52% as of 31 March 2024. 

Shri Sandeep Kumar Gupta, Chairman & Managing Director, GAIL (India) Limited said that, the robust performance during FY25 is primarily driven by better physical & financial performance across all major segments. Despite challenges in global economy, our company had a landmark year, reaching unprecedented financial milestones and achieving the highest-ever EBITDA, PBT and PAT in GAIL's history. The Board of Directors has recommended a final dividend of ? 1 per equity share (face value of ?10 per equity share) for the financial year 2024-25, subject to shareholder approval at the upcoming Annual General Meeting (AGM). This is in addition to the interim dividend of ?6.50 per equity share Consequently, the dividend pay-out ratio for the Financial year stands at 43.59 %. He further stated that the Company has incurred a Capex of Rs. 10,512 Crores during the FY25.

He further informed that GAIL Gas Limited (GGL), a wholly owned subsidiary of GAIL was incorporated in May 2008 for developing City Gas Distribution business as its focus area. GGL currently owns & operates 16 GAs across India. Further GAIL received PNGRB authorisation for development of CGD network in 6 GAs i.e. Varanasi, Patna, Ranchi, Jamshedpur, Bhubaneshwar & Cuttack in March 2018. In order to have a single entity for development of GAIL's CGD Business and for bringing business synergy, efficiency & retail focussed business approach, the Board has recommended to transfer the 6GAs of GAIL to GGL subject to the approval of CCEA.

Operational Highlights

During the year, Natural gas transmission volume registered growth of 6% to 127.32 MMSCMD as against 120.46 MMSCMD in FY24. Gas marketing volume stood at 101.49 MMSCMD in FY25 as against 98.45 MMSCMD in FY24. LHC production stood at 947 TMT as against 996 TMT & Polymer production increased by 6% to 827 TMT as against 777 TMT in comparison to previous year.

During the quarter, Natural gas transmission volume stood at 120.83 MMSCMD in Q4 FY25 as against 125.93 MMSCMD in Q3 FY25. Gas marketing volume stood at 106.53 MMSCMD as against 103.46 MMSCMD in previous quarter. LHC sales stood at 198 TMT as against 282 TMT & Polymer sales jumped by 4% to 229 TMT as against 221 TMT in comparison to previous quarter.

Full year results analysis

Net sales (including other operating income) of GAIL (India) has increased 5.08% to Rs 137,207.78 crore.  Sales of Natural Gas segment has gone up 7.38% to Rs 11,068.43 crore (accounting for 7.50% of total sales).  Sales of LPG segment has gone up 14.08% to Rs 834.92 crore (accounting for 0.57% of total sales).  Sales of Natural Gas Trading segment rose 5.08% to Rs 120,411.66 crore (accounting for 81.64% of total sales).  Sales of Petrochemicals segment has gone up 4.32% to Rs 8,088.17 crore (accounting for 5.48% of total sales).  Sales of LPG and Liquid Hydrocarbons segment has gone up 2.06% to Rs 5,180.17 crore (accounting for 3.51% of total sales).  Sales of Others segment has gone up 13.53% to Rs 1,909.43 crore (accounting for 1.29% of total sales).  Inter-segment sales rose Rs 9,503.76 crore to Rs 10,206.42 crore. 

Profit before interest, tax and other unallocable items (PBIT) has jumped 25.93% to Rs 14,983.51 crore.  PBIT of Natural Gas segment rose 21.32% to Rs 5,488.35 crore (accounting for 36.63% of total PBIT).  PBIT of LPG segment rose 32.92% to Rs 421.44 crore (accounting for 2.81% of total PBIT).  PBIT of Natural Gas Trading segment rose 22.73% to Rs 7,446.28 crore (accounting for 49.70% of total PBIT).  PBIT of Petrochemicals segment rose 72.69% to Rs -37.31 crore (accounting for -0.25% of total PBIT).  PBIT of LPG and Liquid Hydrocarbons segment rose 49.34% to Rs 1,149.22 crore (accounting for 7.67% of total PBIT).  PBIT of Others segment rose 44.29% to Rs 515.53 crore (accounting for 3.44% of total PBIT). 

PBIT margin of Natural Gas segment rose from 43.89% to 49.59%.  PBIT margin of LPG segment rose from 43.32% to 50.48%.  PBIT margin of Natural Gas Trading segment rose from 5.29% to 6.18%.  PBIT margin of Petrochemicals segment rose from negative 1.76% to negative 0.46%.  PBIT margin of LPG and Liquid Hydrocarbons segment rose from 15.16% to 22.18%.  PBIT margin of Others segment rose from 21.24% to 27.00%.  Overall PBIT margin rose from 8.49% to 10.16%. 

Operating profit margin has jumped from 10.24% to 10.44%, leading to 7.12% rise in operating profit to Rs 14,327.20 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 5.61% to 5.27%.   Purchase of finished goods cost rose from 76.37% to 77.22%.   Employee cost decreased from 1.59% to 1.48%.   Other expenses fell from 6.19% to 5.65%.  

Other income up 8.76% to Rs 2401.25 crore.  PBIDT rose 7.35% to Rs 16728.45 crore.  Provision for interest up 6.73% to Rs 744.17 crore.  Loan funds declined from Rs 19,210.46 crore as of 31 March 2024 to Rs 18,443.44 crore as of 31 March 2025.  Inventories rose to Rs 6,008.47 crore as of 31 March 2025 from Rs 5,291.12 crore as of 31 March 2024.  Sundry debtors were lower at Rs 9,211.32 crore as of 31 March 2025 compared to Rs 9,609.08 crore as of 31 March 2024.  Cash and bank balance rose to Rs 1,104.14 crore as of 31 March 2025 from Rs 703.24 crore as of 31 March 2024.  Investments declined from Rs 17,513.91 crore as of 31 March 2024 to Rs 17,483.58 crore as of 31 March 2025. 

PBDT rose 7.38% to Rs 15984.28 crore.  Provision for depreciation rose 8.07% to Rs 3599.75 crore.  Fixed assets increased to Rs 67,705.85 crore as of 31 March 2025 from Rs 61,701.61 crore as of 31 March 2024.  Intangible assets increased from Rs 3,116.85 crore to Rs 3,302.72 crore. 

Profit before tax grew 7.18% to Rs 12,384.53 crore.  Provision for tax was expense of Rs 3512.24 crore, compared to Rs 2718.08 crore.  Effective tax rate was 23.69% compared to 23.52%.

Profit after tax rose 28.02% to Rs 11,312.32 crore. 

Equity capital stood at Rs 6,575.10 crore as of 31 March 2025 to Rs 6,575.10 crore as of 31 March 2024.  Per share face Value remained same at Rs 10.00. 

Promoters' stake was 51.52% as of 31 March 2025 ,compared to 51.52% as of 31 March 2024 . 

Cash flow from operating activities increased to Rs 15,568.28 crore for year ended March 2025 from Rs 11,848.19 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 6,910.42 crore, compared to Rs 7,051.28 crore during the year ended March 2024. 

The scrip is currently trading at Rs 183

  

GAIL (India) : Standalone Results
Particulars	2503 (03)	2403 (03)	Var.(%)	2503 (12)	2403 (12)	Var.(%)
Net Sales (including other operating income)	35,685.21	32,317.72	10	1,37,207.78	1,30,573.05	5
OPM (%)	9.0	11.0		10.4	10.2
OP	3,216.37	3,557.84	-10	14,327.20	13,374.72	7
Other Inc.	566.42	637.6	-11	2,401.25	2,207.89	9
PBIDT	3,782.79	4,195.44	-10	16,728.45	15,582.61	7
Interest	178.32	193.17	-8	744.17	697.23	7
PBDT	3,604.47	4,002.27	-10	15,984.28	14,885.38	7
Depreciation	903.4	1160.51	-22	3599.75	3330.82	8
PBT	2,701.07	2,841.76	-5	12384.53	11554.56	7
PBT before EO	2701.07	2841.76	-5	12384.53	11554.56	7
EO Income	0	0	-	2440.03	0	-
PBT after EO	2701.07	2841.76	-5	14824.56	11554.56	28
Taxation	652.04	664.79	-2	3512.24	2718.08	29
PAT	2049.03	2176.97	-6	11312.32	8836.48	28
EPS (Rs)*	#	#		14.4	13.4
Notes
* EPS is on current equity of Rs 6,575.10 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

 

GAIL (India) : Standalone Segment Results
	% of (Total)	2503 (03)	2403 (03)	Var.(%)	% of (Total)	2503 (12)	2403 (12)	Var.(%)
Sales
Natural Gas	7	2,602.64	2,670.81	-3	8	11,068.43	10,308.03	7
LPG	1	223.69	185.89	20	1	834.92	731.87	14
Natural Gas Trading	82	31,603.00	28,442.10	11	82	1,20,411.66	1,14,589.95	5
Petrochemicals	6	2,210.23	2,256.31	-2	5	8,088.17	7,753.41	4
LPG and Liquid Hydrocarbons	3	1,152.03	1,425.90	-19	4	5,180.17	5,075.83	2
Gailtel	0	0	0	-
Others	1	525.58	411.16	28	1	1,909.43	1,681.86	14
Total Reported Sales	100	38,317.17	35,392.17	8	100	1,47,492.78	1,40,140.95	5
Less: Inter segment revenues		2,610.06	3,057.78	-15		10,206.42	9,503.76	7
Net Sales		35,707.11	32,334.39	10		1,37,286.36	1,30,637.19	5
PBIT
Natural Gas	45	1,268.38	982.45	29	37	5,488.35	4,523.74	21
LPG	4	115.21	75.6	52	3	421.44	317.06	33
Natural Gas Trading	42	1,203.67	1,388.67	-13	50	7,446.28	6,067.30	23
Petrochemicals	-6	-158.01	262.34	PL	0	-37.31	-136.64	73
LPG and Liquid Hydrocarbons	10	291.97	326.59	-11	8	1,149.22	769.53	49
Gailtel	0	0	0	-
Others	4	115.76	-72.8	LP	3	515.53	357.29	44
Total PBIT	100	2,836.98	2,962.85	-4	100	14,983.51	11,898.28	26
Less : Interest		178.32	193.17	-8		744.17	697.23	7
Add: Other un-allcoable		42.41	72.08	-41		585.22	353.51	66
PBT		2,701.07	2,841.76	-5		14,824.56	11,554.56	28