GAIL (India) Ltd - Q4 FY21 Result Update - YES Securities

(Rating: BUY, TP: Rs250, Upside: 53%)

- Operating Profit and PAT at Rs 25.6bn (+3.5% YoY; +33.6% QoQ) and Rs 19.1bn (-35% YoY; +28% QoQ), stood in line with estimates

- Gas transmission volume stood QoQ marginally weaker at 109.8mmscmd (3Q: 110.3mmscmd), resulting in average gas transmission volume of 104.2mmscmd for FY21 (FY20: 108.4mmscmd)

- NG trading volume stood QoQ weaker at 91.4mmscmd (3Q: 95.6mmscmd). The average for FY21 stood at 89.2mmscmd (FY20: 96.3mmscmd).

- The NG segment profitability turned black after consecutive losses in previous three quarter, with EBIT at Rs 2.8bn (USD 0.13/mmbtu)

- GAIL successfully concluded its Buy-Back program in Mar'21, buying back 69.8 mn shares worth Rs 10460mn, implying 2.5% of net worth

- Maintain BUY with a TP of Rs 250/sh.

Shares of GAIL (INDIA) LTD. was last trading in BSE at Rs.163.7 as compared to the previous close of Rs. 163.45. The total number of shares traded during the day was 1223938 in over 9512 trades.

The stock hit an intraday high of Rs. 167.75 and intraday low of 161.3. The net turnover during the day was Rs. 200877367.

Source : Equity Bulls

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