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India's largest state-owned natural gas transmission and marketing company, operating gas pipelines and petrochemical plants.
India's largest state-owned natural gas transmission and marketing company, operating gas pipelines and petrochemical plants.
Moves gas through pipelines for a tariff set by the regulator, the Petroleum and Natural Gas Regulatory Board, and separately buys gas and resells it to fertiliser, power and city-gas customers at a trading margin. A petrochemical plant at Pata in Uttar Pradesh and LPG extraction add smaller, more commodity-priced lines. The Government of India holds a majority.
In one line: A state-owned US natural-gas pipeline/midstream company like Williams Companies.
Moat: wide (regulatory licence, scale, installed base). Owns the majority of India's natural gas pipeline network, a state-backed near-monopoly infrastructure asset.
Headquarters: New Delhi, India · Founded: 1984 · Employees: 26,021
Size GAIL (India) (GAIL.NS) is an India Energy company (Gas Distributors) with a market value of $12.9B, the 84th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹185.79 on 6 Nov 2026.
Performance Over six months the shares gained 11.1%, against -4.2% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 8 in its peer set.
Growth Revenue grew 10.4% over the last twelve months (peer median +14.6%); the operating margin is 9.3% (peer median 13.9%).
Valuation It trades at 8.7× forward earnings against a peer median of 15.3× (2nd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.9 points below its cost of capital (16.2% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹1.59T | ₹1.42T | ₹1.42T | ₹1.33T | ₹1.46T |
| Revenue growth | — | 0% | +7% | -9% | — |
| Gross profit | ₹256B | ₹121B | ₹136B | ₹129B | ₹64.0B |
| EBITDA | ₹185B | ₹132B | ₹158B | ₹148B | ₹76.7B |
| Net income | ₹126B | ₹75.8B | ₹124B | ₹99.0B | ₹56.2B |
| Free cash flow | n/a | ₹20.8B | ₹73.9B | -₹3.58B | -₹58.9B |
| Capital expenditure | n/a | ₹88.1B | ₹79.2B | ₹125B | ₹88.3B |
| Total debt | ₹242B | ₹248B | ₹216B | ₹218B | ₹178B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| GAIL (India) GAIL.NS | $12.9B | +11% | +10% | 9% | 8.7× | 16.9% |
| Adani Total Gas ATGL.NS | $6.69B | -11% | +24% | 14% | 27.9× | n/a |
| Indraprastha Gas IGL.NS | $2.10B | -16% | +15% | 3% | 19.3× | 27.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GAIL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.8% | -3.0% | highest of 8 |
| 6-month return | +11.1% | -4.2% | 2nd highest of 8 |
| Distance from 52-week high | -1.6% | -16.4% | highest of 8 |
| Revenue growth (TTM) | +10.4% | +14.6% | 3rd lowest of 8 |
| Operating margin | 9.3% | 13.9% | 3rd lowest of 8 |
| Forward P/E | 8.7× | 15.3× | 2nd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 16.9% | 7.9% | 3rd most demanding of 7 |
| Growth delivered (Del g) | +19.8% | +22.9% | 4th highest of 7 |
| Hurdle (Req g minus delivered) | -2.9 pp | -9.2 pp | 2nd most demanding of 7 |
| ROIC minus cost of capital | -6.9 pp | -5.8 pp | 4th lowest of 8 |
| EV / EBITDA | 7.8× | 11.2× | 3rd cheapest of 8 |
| Net debt / EBITDA | 1.2× | 0.7× | 4th most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GAIL (India) GAIL.NS | India | $12.9B | +11% | +10% | 9% | 8.7× | 16.9% | +19.8% |
| Adani Total Gas ATGL.NS | India | $6.69B | -11% | +24% | 14% | 27.9× | n/a | n/a |
| Petronet Lng PETRONET.NS | India | $5.02B | +12% | -30% | 16% | 11.3× | 0.9% | +10.8% |
| Oneok OKE | United States | $53.7B | 0% | +38% | 15% | 14.3× | 4.2% | +31.8% |
| Targa Resources TRGP | United States | $56.7B | +7% | -1% | 25% | 21.7× | 7.2% | +15.8% |
| Gujarat Energy GUJENERGY.NS | India | $2.15B | -46% | +43% | 10% | 7.6× | 8.7% | +19.1% |
| Indraprastha Gas IGL.NS | India | $2.10B | -16% | +15% | 3% | 19.3× | 27.0% | +26.8% |
| Mahanagar Gas MGL.NS | India | $1.18B | -4% | +14% | 9% | 15.3× | 24.5% | +30.8% |