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Utilities

GAIL (India) Ltd.

Company Background

GAIL is India's largest natural gas provider. It is 56% owned by the government. The company is part of a consortium involved in two offshore exploration and production blocks in Myanmar. It also holds a participating interest in South East Asia Gas Pipeline, which is involved in a project for transporting gas from the blocks to China.

B.C. Tripathi has been GAIL's chairman and managing director since August 2009. He joined the company in 1984 following a brief stint at another state-run company, ONGC. Tripathi has been involved in several key gas pipeline projects. His tenure as chairman and managing director had been slated to end in July 2014, but the government gave him a five-year extension.

GAIL was established under the Ministry of Petroleum and Natural Gas in August 1984, when the country's gas industry was in its infancy. The aim was to create the necessary infrastructure for sustained development of natural gas. Originally called Gas Authority of India, the company was renamed GAIL (India) in November 2002. It now has 12 joint ventures and five subsidiaries, including operations in Singapore and the U.S. for pursuing overseas opportunities in such areas as liquefied natural gas and petrochemical trading.

Business Summary

GAIL (India) Ltd. engages in the exploration, production, processing, transmission, distribution, and marketing of natural gas. It operates through the following segments: Transmission Services, Natural Gas Marketing, Petrochemicals, Liquefied Petroleum Gas (LPG) and Other Liquid Hydrocarbons, and Other. The Transmission Services segment includes natural gas and LPG. The Natural Gas Marketing segment supplies of natural gas include fuel to power plants, feedstock for gas-based fertilizer plants, LPG extraction, and city gas distribution. The Petrochemicals segment manufactures and markets polymers polypropylene, linear low density polyethylene, and high density polyethylene from natural gas. The LPG and Other Liquid Hydrocarbons segment sells gas processing unit products such as LPG, propane, pentane, naphtha, and by-products of polymer plant. The Other segment consists of GAIL TEL, exploration and production, city gas, and power generation. The company was founded on August 16, 1984 and is headquartered in New Delhi, India.

Financial Highlights

Mar 2019 INRUSD
Revenue761,898.90M10,893.18M
Gross Profit95,246.70M1,361.78M
Operating income84,181.50M1,203.57M
Income before tax98,311.90M1,405.60M
Net income65,457.40M935.87M
EBITDA100,654.20M1,439.09M
Diluted EPS14.510.20
Dividends Per Share4.010.05
Total Assets684,074M9,874.75M
Total liabilities197,929M2,857.14M
Total equity460,041M6,640.79M
Operating cash flow85,601.70M1,223.88M
Currency in INRCurrency in USD

Historical Data

 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 603,681.40M 520,525.10M 485,517.20M 544,963.50M 761,898.90M
Gross Profit 54,526.90M 43,984.40M 63,304M 76,631.20M 95,246.70M
Operating income 42,045.70M 34,096.50M 53,013.90M 67,502.80M 84,181.50M
Income before tax 44,923.60M 29,488.80M 51,840.40M 69,231.90M 98,311.90M
Net income 31,600.50M 18,692.20M 33,689.20M 47,943.60M 65,457.40M
EBITDA 56,310.50M 48,972M 68,352.40M 82,769M 100,654.20M
Diluted EPS 7.00 3.10 7.46 10.63 14.51
Dividends Per Share 1.68 1.54 3.40 3.58 4.01
Total Assets 759,570.50M 590,375.90M 596,645.80M 628,754.90M 684,074M
Total liabilities 401,760.80M 226,069.30M 198,746.40M 203,116.10M 197,929M
Total equity 340,226.70M 364,034.20M 393,048.90M 416,785.70M 460,041M
Operating cash flow 34,254.20M 38,812.30M 63,040.50M 91,243.90M 85,601.70M
 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 9,873.19M 7,950.48M 7,240.35M 8,453.49M 10,893.18M
Gross Profit 891.78M 671.81M 944.03M 1,188.70M 1,361.78M
Operating income 687.65M 520.78M 790.57M 1,047.10M 1,203.57M
Income before tax 734.72M 450.41M 773.07M 1,073.92M 1,405.60M
Net income 516.82M 285.50M 502.39M 743.70M 935.87M
EBITDA 920.95M 747.99M 1,019.31M 1,283.91M 1,439.09M
Diluted EPS 0.11 0.04 0.11 0.16 0.20
Dividends Per Share 0.02 0.02 0.05 0.05 0.05
Total Assets 12,137.34M 8,915.03M 9,188.35M 9,640.27M 9,874.75M
Total liabilities 6,419.82M 3,413.78M 3,060.69M 3,114.24M 2,857.14M
Total equity 5,436.55M 5,497.13M 6,052.95M 6,390.29M 6,640.79M
Operating cash flow 560.22M 592.81M 940.10M 1,415.37M 1,223.88M

Valuation Measures

Mar 2019
PER11.96
ROA9.97%
ROE14.93%
Operating margin11.04%
Profit margin8.59%

Key executives

  • Chairman & Managing Director: Manoj Jain
  • Chief Financial Officer & Finance Director: A K Tiwari
  • Secretary & Compliance Officer: Anil Kumar Jha
  • Director & Director-Human Resources: P. K. Gupta
  • Director & Marketing Director: Gajendra Singh

Shareholders

  • Government of India (51.7%)
  • Life Insurance Corp of India (5.1%)
  • Oil & Natural Gas Corp. Ltd. (4.8%)
  • HDFC Asset Management Co. Ltd. (Invt Mgmt) (3.4%)
  • ICICI Prudential Asset Management Co. Ltd. (2.4%)
  • Indian Oil Corp. Ltd. (2.4%)
  • Franklin Templeton Asset Management (India) Pvt Ltd. (1.0%)
  • Reliance Nippon Life Asset Management Ltd. (Invt Mgmt) (0.9%)
  • BlackRock Fund Advisors (0.9%)
  • The Vanguard Group, Inc. (0.8%)

Contact Details

  • Website:http://www.gailonline.com
  • Address: GAIL Bhawan, 16, Bhikaiji Cama Place, R. K. Puram, New Delhi, 110066, India
  • Phone: +91.11.26172580

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Competitors

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