GAIL’s latest quarter shows a headline‑sized jump: revenue hit ₹45,895 crore, up 17.8% from a year ago, eclipsing the ₹40,426 crore estimate that CNBC‑TV18 had set. The market responded with a 1.7% lift, pushing the stock to ₹167.91 on the NSE.
EBITDA stood at ₹6,412 crore, essentially flat on the previous quarter but a stark 35% lift over the poll estimate of ₹4,741 crore; the 14% margin, though 240 basis points lower than June, still tops the 11.7% forecast.
The board’s green light for GAIL Gas’s IPO, which could see the parent dilute up to 25% of its stake, is a double‑edged sword—raising capital but bleeding equity. Meanwhile, six City Gas Distribution zones—Varanasi, Patna, Ranchi, East Singhbhum, Cuttack and Khordha—will transfer to GAIL Gas effective Jan‑01‑2027, a move that could streamline operations.
GAIL will file its IPO proposal soon, after which the board will finalize the valuation and price band. Investors will be watching closely to gauge how the potential dilution will weigh on the stock’s valuation ahead of the next earnings cycle.