GAIL

GAIL (India) share price & financials

Price
₹171.2
Market cap
₹1.1L Cr
Sector
Oil, Gas & Consumable Fuels
Calls analysed
4
Latest concall · Q1 FY27 · call held 31 Jul 2026

GAIL (India) Limited Q1 FY27

Consolidated EBITDA ₹7,573 cr Consolidated PAT ₹4,665 cr Consolidated PBT ₹6,268 cr

What went well

  • Consolidated Turnover of ₹41,277 crores, up 16.3% QoQ, driven by elevated crude and LPG prices.
  • Consolidated PAT (excluding minority interest) of ₹4,665 crores, up 214.1% QoQ, reflecting robust financial performance.
  • Mumbai-Nagpur-Jharsuguda pipeline (1,707 km) became fully operational, strengthening gas transmission infrastructure.

What to watch

  • Polymer segment incurred a loss of ₹130 crores due to feedstock diversion.
  • LPG Transmission volume declined by ~3% QoQ due to West Asia crisis.
Read the full call →

What GAIL (India) Limited does

GAIL (India) is the country's dominant natural gas company, transporting and marketing gas through an integrated cross-country pipeline grid and importing LNG under long-term upstream contracts. It also manufactures petrochemicals (polyethylene and polypropylene) and liquid hydrocarbons such as LPG, transmits LPG through dedicated pipelines, and is expanding into city-gas distribution, renewables and green hydrogen. Earnings come chiefly from regulated gas-transmission tariffs and gas-trading margins, supplemented by petrochemical, LPG and liquid-hydrocarbon sales.

Segments

  • Natural Gas Transmission
  • Natural Gas Marketing
  • Petrochemicals
  • Liquid Hydrocarbons (LHC)
  • LPG Transmission
  • City Gas Distribution & E&P
Natural gas pipeline network
18,000+ km (~14,200 km integrated); ~1,500 km under construction
Gas transmission market position
Largest in India, ~65% share
Upstream LNG contract portfolio
~16.56 MMTPA
Domestic gas marketing share
~48% of India's natural gas consumption
Petrochemical capacity
870 KTA PE & PP at Pata + 280 KTA at BCPL, Assam
Liquid-hydrocarbon plants
4 processing plants, 1.34 MMTPA capacity
Founded 1984Headquarters New Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 1 delivered 3 missed 11 open
  • FY26 Gas Transmission Volume went quiet said Q4 FY25 Promised: 138-139 MMSCMD Q1 FY27: The final achievement for the completed FY26 was not mentioned. The promise is now considered closed.
  • Commissioning of 3 Petchem Projects delayed said Q4 FY25 Promised: Commission all 3 projects (PP Pata, PDH-PP Usar, PTA GMPL) in FY26 Q1 FY27: Timeline further delayed. While the PTA plant is expected 'shortly', the PDH-PP plant at Usar is now scheduled for commissioning in the 'next financial year' (FY28), a delay from the previous CY2026 timeline.
  • FY27 Gas Marketing PBT open said Q1 FY27 Promised: around 4,500 crores Q1 FY27: Management guided for FY27 Gas Marketing PBT of 'around 4,500 crores', despite a very strong Q1 which was attributed to one-off benefits.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 12.0%, net profit up 127.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue32,912 34,937 35,685 34,769 35,008 +6%34,051 −3%34,773 −3%38,953 +12%
EBITDA3,745 2,838 3,216 3,334 3,191 −15%2,655 −6%1,152 −64%6,376 +91%
Net profit2,672 3,867 2,049 1,886 2,217 −17%1,603 −59%1,262 −38%4,292 +128%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −0.2% 1Y

₹140₹160₹180Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 31 Oct 2025Q3 FY26 — 2 Feb 2026Q1 FY27 — 31 Jul 2026

1Y: ₹173.9 on 10 Sept 2025 → ₹173.62. High ₹185.3 (17 Nov 2025), low ₹135.4 (23 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+4.5%
31 Jul
Q3 FY26
−1.2%
2 Feb
Q2 FY26
−0.2%
31 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 1.6% a year over 3 years, FY23 to FY26. Operating margin widened to 7.5%.

Year endingFY23FY24FY25FY26
Revenue₹145.7k Cr₹130.6k Cr₹137.2k Cr₹138.6k Cr
Operating profit₹7.5k Cr₹13.3k Cr₹14.3k Cr₹10.3k Cr
Operating margin5.1%10.2%10.4%7.5%
Interest₹367 Cr₹697 Cr₹744 Cr₹942 Cr
Depreciation₹2.7k Cr₹3.3k Cr₹3.6k Cr₹3.2k Cr
Net profit₹5.6k Cr₹8.8k Cr₹11.3k Cr₹7.0k Cr
Net margin3.8%6.8%8.2%5.0%
Cash from operations₹2.8k Cr₹11.8k Cr₹15.6k Cr₹9.9k Cr
Free cash flow₹-4.5k Cr₹4.8k Cr₹8.7k Cr₹2.7k Cr
ROCE10.0%16.0%15.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹4.4k Cr₹4.4k Cr₹6.6k Cr₹6.6k Cr₹6.6k Cr₹6.6k Cr
Reserves₹42.2k Cr₹51.1k Cr₹49.1k Cr₹57.6k Cr₹81.6k Cr₹67.5k Cr
Borrowings₹6.6k Cr₹7.7k Cr₹15.7k Cr₹19.2k Cr₹22.4k Cr₹21.8k Cr
Other liabilities₹19.7k Cr₹23.1k Cr₹24.8k Cr₹26.2k Cr₹25.9k Cr₹26.7k Cr
Total liabilities₹73.0k Cr₹86.4k Cr₹96.2k Cr₹109.5k Cr₹136.5k Cr₹122.6k Cr
Fixed assets₹36.5k Cr₹39.8k Cr₹44.3k Cr₹49.0k Cr₹59.8k Cr₹60.3k Cr
Capital work in progress₹11.9k Cr₹13.1k Cr₹13.7k Cr₹15.9k Cr₹28.0k Cr₹15.9k Cr
Investments₹9.7k Cr₹12.1k Cr₹12.8k Cr₹17.5k Cr₹24.2k Cr₹20.3k Cr
Other assets₹14.8k Cr₹21.4k Cr₹25.4k Cr₹27.2k Cr₹24.5k Cr₹26.1k Cr
Total assets₹73.0k Cr₹86.4k Cr₹96.2k Cr₹109.5k Cr₹136.5k Cr₹122.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +0.16 pp while the public trimmed −0.14 pp. The shareholder count shrank 4% to 15,66,827.

Promoters
51.8%
FIIs
15.0%
DIIs
19.1%
Government
7.6%
Public
6.5%

Since Jun 2025

  • DIIs +0.16 pp
  • Public −0.14 pp
  • Promoters −0.09 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 51.9%, FIIs 14.8%, DIIs 19.1%, Government 7.9%, Public 6.3%.Dec '23: Promoters 51.9%, FIIs 14.2%, DIIs 19.4%, Government 7.9%, Public 6.6%.Mar '24: Promoters 51.9%, FIIs 14.2%, DIIs 19.6%, Government 7.6%, Public 6.8%.Jun '24: Promoters 51.9%, FIIs 15.2%, DIIs 18.1%, Government 7.6%, Public 7.1%.Sep '24: Promoters 51.9%, FIIs 16.8%, DIIs 16.9%, Government 7.6%, Public 6.8%.Dec '24: Promoters 51.9%, FIIs 16.1%, DIIs 17.6%, Government 7.6%, Public 6.8%.Mar '25: Promoters 51.9%, FIIs 14.8%, DIIs 19.0%, Government 7.6%, Public 6.7%.Jun '25: Promoters 51.9%, FIIs 14.9%, DIIs 18.9%, Government 7.6%, Public 6.7%.Sep '25: Promoters 51.9%, FIIs 13.7%, DIIs 19.9%, Government 7.6%, Public 6.9%.Dec '25: Promoters 51.9%, FIIs 14.1%, DIIs 19.8%, Government 7.6%, Public 6.7%.Mar '26: Promoters 51.9%, FIIs 13.0%, DIIs 20.5%, Government 7.6%, Public 7.0%.Jun '26: Promoters 51.8%, FIIs 15.0%, DIIs 19.1%, Government 7.6%, Public 6.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of GAIL (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
President Of India 51.79%−0.09 pp
LICI Annuity Non-Par Insurer8.29%+0.55 pp
Oil And Natural Gas Corporation Limited 4.99%unchanged
SBI Arbitrage Opportunities Fund - 2 Mutual fund4.64%newly disclosed
Indian Oil Corporation Limited 2.50%unchanged
NPS Trust - A/C LIC Pension Fund Scheme - Corporate Cg Pension / PF1.46%−0.05 pp
T. Rowe Price Emerging Markets Discovery Stock Trust Global fund house1.08%newly disclosed
Magnum Hybrid Long Short Fund Mutual fund—off the list
DSP Aggressive Hybrid Fund Mutual fund—off the list
Bharat 22 ETF Mutual fund—off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in GAIL

Filings to Aug 2026

1 new, 11 added, 6 trimmed, 1 sold out — net −223.78 L shares (−6.5%).

Held by funds
₹5.8k Cr
31 schemes
Biggest holder
SBI Contra Fund
₹1.1k Cr · 2.3% of that fund
SchemeHoldingLast month
SBI Contra Fund SBI Mutual Fund₹1.1k Crheld
SBI Balanced Advantage Fund SBI Mutual Fund₹1.1k Crheld
HDFC Balanced Advantage Fund HDFC Mutual Fund₹890 Crheld
SBI Energy Opportunities Fund SBI Mutual Fund₹664 Crheld
SBI PSU Fund SBI Mutual Fund₹454 Cr−85.60 L
SBI Multi Asset Allocation Fund SBI Mutual Fund₹414 Crheld
SBI ELSS Tax Saver Fund SBI Mutual Fund₹305 Cr−92.86 L
SBI Dividend Yield Fund SBI Mutual Fund₹178 Cr−50.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

11 added, 6 trimmed — net −2.24 cr shares (−6.5%)

Funds are sitting on
+22%
vs est. average cost
Held by funds
₹5.8k Cr
31 schemes · ≈ 4.9% of the company
Biggest holder
SBI Contra Fund
₹1.1k Cr · 2.3% of that fund
Longest holder
Nippon India ETF Nifty 100
13y 6m · since Mar '13

Shares held by these funds +29%

Aug '23 35.01 cr shares Jul '26

All earnings calls (4)

Read the Q1 FY27 call →

Learn to analyse GAIL (India) Limited

Guides on how to read this kind of business and the numbers that matter.