GAIL (India) (GAIL) Q3 24/25 earnings summary

Executive summary

• Achieved record quarterly and nine-month PBT and PAT, with nine-month standalone PAT at ₹9,263 crore and consolidated PAT at ₹9,958 crore, up 39% year-over-year, driven by robust segment performance and exceptional income of ₹2,440 crore from arbitration/LNG settlement.

• Interim dividend of ₹6.50 per share declared for FY 2024-25, totaling ₹4,273.81 crore, with record date set for 7 February 2025.

• 9M FY25 saw strong operational and financial performance, with notable growth in gas transmission and marketing volumes.

Financial highlights

• Q3 FY25 standalone revenue: ₹34,957.76 crore; consolidated revenue: ₹36,937.05 crore; standalone PAT: ₹3,867.38 crore; consolidated PAT: ₹4,084.24 crore.

• 9M FY25 standalone gross turnover: ₹1,01,353 crore; consolidated turnover: ₹1,05,502 crore.

• Standalone EBITDA for 9M FY25: ₹15,583 crore; consolidated EBITDA: ₹16,986 crore.

• Market capitalization as of Q3 FY25: ₹1,25,617 crore.

• Operating margin for Q3 FY25: 5.75%; net profit margin: 11.08%.

Outlook and guidance

• FY25 marketing margin guidance maintained at ₹4,500 crore, excluding exceptional income; total expected marketing margin including one-off is ₹7,000 crore.

• Planned capital expenditure of ~₹10,100 crore for FY25 and ~₹8,480 crore for FY26, focusing on pipelines, city gas, petrochemicals, and renewables.

• Gas transmission volume for FY25 expected at 129-130 MMSCMD, with similar outlook for Q4 and next year.

• Polymer segment expected to improve profitability in FY26 as gas prices soften and product prices stabilize.