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Hold Gail (India); target of Rs 180: ICICI Direct

ICICI Direct recommended hold rating on Gail (India) with a target price of Rs 180 in its research report dated June 14, 2021.

June 15, 2021 / 11:19 AM IST
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ICICI Direct's research report on Gail (India)

Gail India reported a mixed set of Q4FY21 results. While gas trading & transmission and petchem segments' performance was better than expected, LPG/LLH performance was weaker than anticipated. Revenues for the quarter declined 12.4% YoY to Rs 15546.2 crore. EBITDA was at Rs 2564.8 crore, up 3.6% YoY against our estimates of Rs 2621.3 crore. Gail reported higher-than-expected other income of Rs 568.4 crore. Subsequently, reported PAT was at Rs 1907.7 crore, down 36.8% YoY (negative tax outgo in base quarter) against our estimate of Rs 1883.1 crore.


We value Gail using the SOTP methodology, valuing the core business using DCF and EV/EBITDA multiple for other business segments. We maintain HOLD with a revised target price of Rs 180/share (earlier Rs 150).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jun 15, 2021 11:19 am

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