GAIL (India) Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Growth

Q1 FY24Gas transmission volume to reach 123 MMSCMD by FY24 endActive

Management expects transmission volume to grow 6-7% from current 116 MMSCMD to 123 MMSCMD by March 2024, driven by petchem ramp-up, CGD growth, and restoration of disrupted pipelines.

Q1 FY24Medium-term transmission volume target of 138-140 MMSCMDTracked

Over the next 2-3 years, GAIL expects transmission volumes to reach 138-140 MMSCMD, driven by new refinery demand, CGD expansion, and pipeline commissioning.

Q1 FY25Gas transmission volume guidance of 130-132 MMSCMD for FY25Active

Management maintained full-year transmission volume guidance of 130-132 MMSCMD, with Q1 already at 131.79 MMSCMD.

Q1 FY25Transmission volume growth of 10-12 MMSCMD over 2-3 yearsTracked

Management expects to add 10-12 MMSCMD of transmission volume by FY26-27, driven by CGD, refinery, and new customer connections.

Revenue

Q1 FY24Gas marketing margin of INR 3,500 crore for FY24Tracked

Management reiterated its guidance of earning at least INR 3,500 crore in gas marketing margin for FY24, supported by Q1 margin of INR 1,000 crore.

Q1 FY25Gas marketing margin minimum INR 4,500 crore for FY25Active

Management raised the full-year marketing margin guidance from INR 4,000-4,500 crore to a minimum of INR 4,500 crore, with potential upside to be reviewed at Q2.

Capex

Q1 FY24CapEx of INR 9,000-10,000 crore for FY24Tracked

Planned capital expenditure includes INR 4,000 crore on pipelines, INR 3,200 crore on petrochemicals, INR 700 crore operational, INR 200 crore CGD, and INR 2,500 crore equity contributions.

Margins

Q1 FY25Petrochemical segment to deliver 'reasonably good profit' in FY25Tracked

Despite Q1 loss of INR 42 crore due to shutdown, management expects full-year petrochemical profitability to improve significantly.