Robust performance fueled by turnaround in petchem segment

Company

30 Jan 2024 | 5 Min Read

GAIL reported robust performance in 3QFY24, driven by turnaround in the petchem segment.

EBITDA came in 10% higher than estimated, driven by strong performances in gas transmission, LPG, and petchem segments.

GAIL anticipates robust domestic gas demand and projects gas transmission volumes to reach 124mmscmd by end-FY24.

The company values the core business at 12x Dec25E adjusted EPS and has a TP of INR200.

The company's financials and valuations show improving ratios and profitability.

GAIL's debt-to-equity ratio is expected to decline, and cash flow is expected to improve.