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GAIL (India) Ltd

Q2 FY26Gas

GAIL (India) Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹172
Market cap₹1.1L Cr
P/E11.6
Updated23 Aug 2026
Read4 min read

The short version

Gas transmission volumes expected to increase by 8-10 MMSCMD in FY '27, reaching around 133-134 MMSCMD (Page 5, 13). GAIL expects to maintain marketing profit before tax (PBT) guidance at around Rs.

From GAIL (India) Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Gas transmission volumes expected to increase by 8-10 MMSCMD in FY '27, reaching around 133-134 MMSCMD (Page 5, 13).
  • Power sector demand anticipated to grow by 2-3 MMSCMD next year, driven by balancing renewable energy supply and peaking demand (Page 19).
  • Incremental refinery volumes (2-3 MMSCMD) in FY '27 from new/refurbished refineries such as Haldia, Bongaigaon, and Guwahati (Page 15).
  • Fertilizer plants fully ramped up with potential future increase from expansion and new plants in Maharashtra and Chhattisgarh (Page 15).
  • GAIL Gas city gas distribution expanding with current marketed volumes around 7.72 MMSCMD, with IPO and listing process underway (Page 8).
  • Petrochemical segment expected to contribute more from FY '27 onwards with commissioning of large projects like PDHPP Usar (500 KTA capacity), contributing positive EBITDA (Page 11).
  • Overall financial guidance for gas marketing PBT remains at Rs. 4,000-4,500 crores with stable outlook for next year (Page 13, 15).

Profitability & Margins

See what GAIL (India) Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • MNJPL pipeline: Rs. 8,500 crores CAPEX, expected to be commissioned by FY '26 end.
  • PATA petrochemical project: Rs. 1,300 crores CAPEX, commissioning in FY '26.
  • KKMBPL Phase 2: Estimated Rs. 2,000-2,500 crores CAPEX, to be commissioned soon.
  • Jagdishpur-Haldia pipeline: Ongoing CAPEX utilization, timeline around FY '26.
  • PDHPP Usar petrochemical plant: Expected commissioning in FY '27; major upcoming project.
  • Gurdaspur project: Small CAPEX, also expected to complete alongside.
  • Vijaipur-Bina pipeline: New 105 km gas pipeline with 3 MMSCMD capacity, CAPEX of Rs. 450 crores; timeline - 3 years.
  • JLPL LPG pipeline capacity expansion: From 3.25 to 6.5 MMTPA, increasing revenue by Rs. 700 crores (tariff-based).
  • Project Sanchay-2: Rs. 146 crores CAPEX for AI/advanced tech initiatives to optimize processes and save Rs. 600 crores over 5 years.
  • Pipe laying for JBF port connection to import paraxylene for flexibility and price advantage.

Top-ranked in Gas

Ranked on what management guided this quarter

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2IRM Energy
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3
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4
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5
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what GAIL (India) Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided document does not contain explicit information on the current or expected order book or pending orders for GAIL (India) Limited. The transcript focuses predominantly on topics such as gas marketing contracts, margins, power sector demand, transmission volumes, pipeline projects, new capacities (like petrochemical plants), LNG terminal utilization, and financial guidance. There is discussion of contracted volumes, sourcing, and sales strategies but no specific mention of an order book or pending orders. Hence, no direct data on GAIL’s order book or pending orders is available in the provided extract.

GAIL (India) Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹35.6K Cr, net profit ₹1.5K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What GAIL (India)'s management said in earlier quarters

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Frequently Asked Questions

What were GAIL (India) Ltd Q2 FY26 results?

Gas transmission volumes expected to increase by 8-10 MMSCMD in FY '27, reaching around 133-134 MMSCMD (Page 5, 13). GAIL expects to maintain marketing profit before tax (PBT) guidance at around Rs.

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?

MNJPL pipeline: Rs.

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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.