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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

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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