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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 2020 INRUSD
Revenue725,084.20M10,225.99M
Gross Profit119,324.10M1,682.84M
Operating income69,448.50M979.44M
Income before tax81,823.40M1,153.97M
Net income94,220.50M1,328.80M
EBITDA90,250.10M1,272.81M
Diluted EPS20.890.29
Dividends Per Share----
Total Assets749,141.80M9,902.56M
Total liabilities255,588.90M3,378.51M
Total equity492,682.50M6,512.54M
Operating cash flow85,777M1,209.72M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 520,525.10M 485,517.20M 544,963.50M 761,898.90M 725,084.20M
Gross Profit 43,984.40M 63,304M 76,631.20M 95,246.70M 119,324.10M
Operating income 34,096.50M 53,013.90M 67,502.80M 84,181.50M 69,448.50M
Income before tax 29,488.80M 51,840.40M 69,231.90M 98,311.90M 81,823.40M
Net income 18,692.20M 33,689.20M 47,943.60M 65,457.40M 94,220.50M
EBITDA 48,972M 68,352.40M 82,769M 100,654.20M 90,250.10M
Diluted EPS 3.10 7.46 10.63 14.51 20.89
Dividends Per Share 1.54 3.40 3.58 4.01 --
Total Assets 590,375.90M 596,645.80M 628,754.90M 684,074M 749,141.80M
Total liabilities 226,069.30M 198,746.40M 203,116.10M 197,929M 255,588.90M
Total equity 364,034.20M 393,048.90M 416,785.70M 460,041M 492,682.50M
Operating cash flow 38,812.30M 63,040.50M 91,243.90M 85,601.70M 85,777M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 7,950.48M 7,240.35M 8,453.49M 10,893.18M 10,225.99M
Gross Profit 671.81M 944.03M 1,188.70M 1,361.78M 1,682.84M
Operating income 520.78M 790.57M 1,047.10M 1,203.57M 979.44M
Income before tax 450.41M 773.07M 1,073.92M 1,405.60M 1,153.97M
Net income 285.50M 502.39M 743.70M 935.87M 1,328.80M
EBITDA 747.99M 1,019.31M 1,283.91M 1,439.09M 1,272.81M
Diluted EPS 0.04 0.11 0.16 0.20 0.29
Dividends Per Share 0.02 0.05 0.05 0.05 --
Total Assets 8,915.03M 9,188.35M 9,640.27M 9,874.75M 9,902.56M
Total liabilities 3,413.78M 3,060.69M 3,114.24M 2,857.14M 3,378.51M
Total equity 5,497.13M 6,052.95M 6,390.29M 6,640.79M 6,512.54M
Operating cash flow 592.81M 940.10M 1,415.37M 1,223.88M 1,209.72M

Valuation Measures

Mar 2020
PER3.65
ROA13.14%
ROE19.77%
Operating margin9.57%
Profit margin12.99%

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: E. S. Ranganathan

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. (3.1%)
  • Indian Oil Corp. Ltd. (2.4%)
  • SBI Funds Management Pvt Ltd. (1.2%)
  • Franklin Templeton Asset Management (India) Pvt Ltd. (1.1%)
  • The Vanguard Group, Inc. (0.8%)
  • Kotak Mahindra Asset Management Co. Ltd. (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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