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    GAIL: Macro headwinds shadow robust performance 

    GAIL has been the biggest beneficiary of the gas market turmoil since last year, seeing its gas marketing segment revenue and spread rising rapidly

    Nitin Sharma
    August 05, 2022 / 11:14 AM IST
    GAIL: Macro headwinds shadow robust performance 

    Representative image

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    The Q1FY23 results of GAIL (CMP: Rs 140.10; Market cap: Rs 61,444 crore) were above consensus expectations on the robust performance of the natural gas marketing segment, partially offset by lower profits in the transmission and petrochemical segments. Rising gas prices and international supply constraints are expected to play spoilsport for the rest of FY23. Q1FY23 performance  (image) (image) The natural gas marketing segment contributed around half of the EBITDA and saw a 35 percent jump in EBITDA to Rs 2,402 crore....

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