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Swing Capital

GAIL (India) Ltd

NSE: GAIL BSE: 532155Energy

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.

₹159
52W: ₹134 — ₹203
PE 13.6 · Book ₹112 · +42% vs book
Market Cap₹1,04,774 Cr
Stock P/E13.6Price to Earnings
ROCE15.3%Return on Capital
ROE14.1%Return on Equity
Div. Yield4.72%Face Value ₹10

Strengths

  • +Stock is providing a good dividend yield of 4.70%.
  • +Company has been maintaining a healthy dividend payout of 48.8%

Weaknesses

  • −Company has a low return on equity of 12.9% over last 3 years.

Shareholding Pattern

Promoters51.88%
FIIs13.04%
DIIs20.5%
Public6.98%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.92%51.92%51.9%▼0.051.88%▼0.051.88%51.88%51.88%51.88%
FIIs15.2%16.79%▲1.616.05%▼0.714.79%▼1.314.91%▲0.113.72%▼1.214.07%▲0.313.04%▼1.0
DIIs18.13%16.92%▼1.217.59%▲0.719.02%▲1.418.93%▼0.119.88%▲0.919.76%▼0.120.5%▲0.7
Public7.14%6.76%▼0.46.84%▲0.16.68%▼0.26.66%▼0.06.92%▲0.36.69%▼0.26.98%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales31,80734,23632,31833,67432,91234,93735,68534,76935,00834,051
Expenses28,31530,41428,76029,14629,16732,09932,46931,43531,81731,396
Operating Profit3,4913,8233,5584,5283,7452,8383,2163,3343,1912,655
OPM %11%11%11%13%11%8%9%10%9%8%
Net Profit2,4052,8432,1772,7242,6723,8672,0491,8862,2171,603
EPS ₹3.664.323.314.144.065.883.122.873.372.44

AI Insights

Revenue Trend

TTM revenue at ₹1,39,514Cr, up 1.7% YoY. OPM at 9%.

Debt Position

Borrowings at ₹19,503Cr. Debt-to-equity ratio: 0.29x. Healthy balance sheet.

Capex Cycle

CWIP at ₹20,151Cr (39% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 20.5% (+2.44pp change). FIIs: 13.04% (-3.05pp change). Promoters hold 51.88%.

Margin & Efficiency

ROCE declining from 18% (Mar 2014) to 15% (Mar 2025). Working capital days: -6.

Valuation

PE 13.6x with 15.3% ROCE. Price is 42% above book value of ₹112. Dividend yield: 4.72%.

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