GAIL (India) Ltd.PAT ₹4,292 Cr, Transmission Guide Cut to 123

GAIL (India) reported Q1 FY27 standalone PAT of ₹4,292 Cr against ₹1,262 Cr in Q4, on PBT of ₹5,773 Cr, as higher crude and LPG prices and a gas marketing index lag lifted earnings.

Consolidated EBITDA was ₹7,573 Cr against ₹2,703 Cr. Gas marketing PBT was ₹3,353 Cr on 93.82 MMSCMD, boosted by Henry Hub and nine-month JCC sourcing sold against three-month Brent; management called much of that gain one-off and held full-year guidance at about ₹4,500 Cr. Transmission volume was 122.36 MMSCMD, but the FY27 guide is now about 123 MMSCMD, down from 134-135 MMSCMD guided a quarter earlier. LPG and liquid hydrocarbons PBT rose to ₹772 Cr while polymers lost ₹130 Cr.

Management agreed that gas trading, petchem and LPG profit will all fall from Q1 levels. Capital outlay was ₹6,176 Cr against an FY27 guide of about ₹11,500 Cr, PNGRB has withdrawn its unbundling clause, and the PDH-PP petchem plant is now expected to complete by December 2027.