GAIL (India) Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 4 Aug 2026 | Gas | Market Cap: ₹1.1L Cr
Transmission volume guidance revised to 127-128 MMSCMD for FY26 due to shutdowns and weather impacts. Transmission volumes forecasted to increase from 127-128 MMSCMD in FY26 to 135-136 MMSCMD in FY27, supported by natural CGD growth and new refinery pipelines.
From GAIL (India) Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹172
Market Cap
₹1.1L Cr
P/E Ratio
11.6
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GAIL (India) Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹35.6K Cr, net profit ₹1.5K Cr.
Full financials →📊 Revenue & Sales Performance
- →Transmission volume guidance revised to 127-128 MMSCMD for FY26 due to shutdowns and weather impacts.
- →Expect transmission volume growth to 135-136 MMSCMD in FY27, driven by natural CGD growth and new refinery customers (Barauni, Paradip, Haldia, Bongaigaon, Guwahati).
- →CGD segment growing at ~12% annually, contributing around 3.5 MMSCMD to volumes.
- →New pipeline projects (Mumbai-Nagpur-Jharsuguda, Srikakulam-Angul, Kolkata section, etc.) to add incremental volumes.
- →Petrochemical projects (PP Pata 60 KTA, PDH-PP Usar) commissioning in FY26-FY27 expected to boost sales.
- →LPG Jamnagar-Loni pipeline capacity doubled to 6.5 MMTPA with a INR 5,000 crore CapEx, supporting future growth.
- →Marketing margins expected between INR 4,000-4,500 crore in FY26.
- →Overall capex ~INR 12,000 crore in FY26-27 supporting infrastructure and projects growth.
📈 Profitability & Margins
- →Transmission volumes forecasted to increase from 127-128 MMSCMD in FY26 to 135-136 MMSCMD in FY27, supported by natural CGD growth and new refinery pipelines.
- →Petrochemical segment expected to improve but remains pressured by higher Henry Hub prices; breakeven likely but no profit guidance for FY26.
- →Marketing margins maintained at INR 4,000-4,500 crore for FY25-26.
- →Capex of around INR 12,000 crore planned for FY26-27 focusing on pipelines (INR 4,000 crore), petrochemicals (INR 2,500 crore), and net-zero projects (INR 2,000 crore), supporting growth.
- →EPS/profit outlook is cautious with one-off items like INR 133 crore differential tariff impacting Q1; overall Q1 FY26 profit after tax declined 8% QoQ.
- →Expect normalizing power sector demand and reduced fertiliser plant shutdowns to drive earnings growth in coming quarters.
🏗️ Capital Expenditure Plans
- →Capex plan for FY26-27 is around INR 12,000 crore.
- →Breakdown of Capex:
- → - Pipeline projects: ~INR 4,000 crore
- → - Petrochemical projects: INR 2,500 crore
- → - Exploration & Production (E&P): INR 500 crore
- → - Net-zero plan related investments: INR 2,000 crore
- → - City Gas Distribution (CGD) projects: ~INR 200 crore
- → - Operational Capex: INR 1,400 crore
- → - Equity contribution: INR 850 crore
- →Ongoing pipeline projects include Mumbai-Nagpur-Jharsuguda, Jagdishpur-Haldia-Bokaro-Dhamra, Kochi-Koottanad-Bangalore-Mangalore, Srikakulam-Angul, and Gurdaspur-Jammu pipelines.
- →Petrochemical projects: PP Pata 60 KTA and 1,250 KTA GMPL are commissioning in current year; PDH-PP delayed to FY26-27.
- →Evaluation ongoing for ethane cracker project in Madhya Pradesh; no investment decision yet.
💰 Fundraising & Capital Structure
- →No explicit mention of any current or planned new fundraising through equity or debt in the call transcript.
- →There is an equity contribution of INR 1,458 crore during Q1 FY26 but this appears related to ongoing projects, not new fundraising.
- →CapEx plans for FY26 and FY27 total around INR 12,000 crore, funded through pipeline projects, petrochemicals, E&P, net-zero plans, and operational CapEx, but no mention of raising new capital.
- →The company’s focus seems to be on internal funding and project execution rather than seeking external fundraising at this point.
- →For any specific queries related to fundraising, management invited investors to connect with their IR team for detailed information.
📋 Order Book & Pipeline
Key Metrics
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Frequently Asked Questions
What were GAIL (India) Ltd Q1 FY26 results?
Transmission volume guidance revised to 127-128 MMSCMD for FY26 due to shutdowns and weather impacts. Transmission volumes forecasted to increase from 127-128 MMSCMD in FY26 to 135-136 MMSCMD in FY27, supported by natural CGD growth and new refinery pipelines.
What is GAIL (India) Ltd share price analysis?
GAIL (India) Ltd currently shows a neutral. The stock trades at a P/E of 11.6 with a market cap of ₹114,998 Cr. Investors should review the full earnings analysis for detailed insights.
Is GAIL (India) Ltd planning capital expenditure?
Capex plan for FY26-27 is around INR 12,000 crore.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.