GAIL (India) Limited is India's largest state-owned natural gas processing and distribution company with primary interests in the trade, transmission and production distribution of natural gas. Founded as the Gas Authority of India Ltd. in August 1984 under the Ministry of Petroleum and Natural Gas, the company has evolved into a comprehensive energy corporation with diversified interests across the natural gas value chain.
On 1 February 2013, the Indian government conferred GAIL with Maharatna status along with 14 other Public Sector Undertakings (PSUs). The company operates through multiple business segments including transmission services, natural gas marketing, petrochemicals, LPG and liquid hydrocarbons, and other diversified ventures.
GAIL's business portfolio spans across several key segments. The company's segments include Transmission Services, Natural Gas Marketing, Petrochemicals, LPG And Liquid Hydrocarbons and Other segment. Its Transmission Services segment includes natural gas and liquid petroleum gas (LPG). Its Other segment includes City Gas Distribution (CGD), GAIL Tel, exploration and production (E&P) and power generation.
The company's transmission infrastructure forms the backbone of India's natural gas network. As of 31 December 2021, GAIL owns approximately 13,800 km of the operational natural gas pipeline network, which represents over 67% of India's overall 20,334 km of the operational natural gas pipeline network. GAIL transmits more than 160 million cubic metres per of gas per day at standard conditions through its dedicated pipelines and has more than 70% market share in both gas transmission and marketing.
GAIL owns the prominent Hazira-Vijaipur-Jagdishpur cross-country pipeline, spanning 2,300 km with a capacity to handle 33.4 million cubic metres per day at standard temperatures and pressures. The company also operates extensive LPG infrastructure, owning and operating more than 2,000 kilometres of LPG pipelines in the country, spanning Jamnagar in Gujarat to Loni in Uttar Pradesh.
GAIL is one of the major petrochemical conglomerates in the country today with India's largest gas-based petrochemicals in operation since 1999. The company has established significant processing capabilities with six liquefied petroleum gas processing plants, two at Vijaipur, MP, one at Waghodia, Gujarat, one at Gandhar, Gujarat, one at Auraiya, UP and one each in Lakwa, Assam and Usar, Maharashtra. These plants can produce nearly 1 million tonnes per annum of LPG.
The company also owns and operates seven mega LPG recovery plants in the country today and has to its credit almost 20% of domestic LPG produced and supplied for domestic usage through its sisters PSUs like IOCL, BPCL and HPCL.
GAIL has demonstrated strong financial performance with record-breaking results. The company has a market capitalization of ₹1,27,169 crore (as of recent data), with revenue of ₹1,41,903 crore and profit of ₹12,463 crore. GAIL has witnessed its highest-ever half-yearly EBITDA, PBT & PAT in H1 FY'2025.
For the first half of FY2025, GAIL reported Revenue from Operations of ₹66,622 crore for the period April – September 2024 as compared to ₹64,050 crore in corresponding period of Financial Year 2023-24. Profit before Tax (PBT) for H1 FY25 stood at ₹7,095 crore as compared to ₹5,019 crore for the corresponding period in previous year. Profit after Tax (PAT) stood at ₹5,396 crore in H1 FY25 as compared to ₹3,817 crore in corresponding period of previous year.
- Revenue from Operations (FY25): ₹1,41,903 crore
- Net Profit (FY25): ₹12,463 crore
- Market Cap: ₹1,27,169 crore
- Promoter Holding: 51.9%
- Current dividend yield: 3.93%
- EBITDA: ₹154.32 billion with current EBITDA margin of 10.87%
GAIL has been actively pursuing digital transformation and infrastructure expansion. GAIL (India) has successfully gone live with SAP S/4 HANA in a formal launch on 25 June 2025. GAIL becomes the first Maharatna PSU to achieve this milestone. This strategic migration involved a full transition from the company's legacy ECC system to the next-generation SAP S/4HANA Cloud, strengthening GAIL's IT foundation for future growth and innovation.
The company is also expanding its pipeline infrastructure with several ongoing projects. Srikakulam Angul Pipeline completion delayed from June to Dec 2025 due to forest permission issues. Mumbai-Nagpur-Jharsuguda pipeline delayed to Sept 2025; cost increased.
GAIL (India) Limited is committed to reduce carbon emissions and implement renewable projects. GAIL has a total installed capacity of 130.26 MW of alternative energy; out of which 118 MW are wind energy projects and 12.26 MW are solar energy projects. The company is also focused on expanding its presence in renewable energy, such as solar, wind and biofuel.
GAIL has been forming strategic partnerships to enhance its business operations. GAIL (India) and Container Corporation Of India (CONCOR) have signed a Memorandum of Understanding (MoU) to explore the adoption of Liquefied Natural Gas (LNG) as an alternative fuel for the logistics sector. The MoU was signed on 23 April 2025, in New Delhi. The MoU aims to assess the feasibility of using LNG as fuel for CONCOR's logistics fleet.
GAIL's subsidiaries include GAIL Global (Singapore) PTE Ltd, GAIL Global (USA) Inc., GAIL GAS Limited, Tripura Natural Gas Co Ltd., Bengal Gas Limited and Konkan LNG Limited. GAIL has wholly owned subsidiaries in Singapore and the US for expanding its presence outside India in the segments of LNG, petrochemical trading and shale gas assets.
GAIL target price is ₹217.23, representing a slight upside of 12.32% compared to current price of ₹193.41, according to 30 analysts rating. The company's strong fundamentals, extensive pipeline network, and strategic position in India's growing natural gas market make it an attractive investment proposition for investors seeking exposure to the energy infrastructure sector.
With India's commitment to increasing natural gas consumption as part of its energy transition strategy, GAIL is well-positioned to benefit from the anticipated growth in domestic natural gas demand and infrastructure development.
