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Entry Price

136.00

Target

150.00

Recommend Date

12-02-2021

Return

10.29 %
BUY

Date : 12-02-2021

Gail India reported a mixed set of Q3FY21 results. While gas transmission and petchem segments performance was better than expected, gas trading and LPG/LLH performance was weaker than anticipated. Revenues for the quarter declined 13% YoY to | 15454.3 crore. EBITDA was at | 1919.5 crore, down 7.4% YoY against our estimates of | 1956.8 crore. Gail reported higher than expected other income of | 470.8 crore. Subsequently, the reported PAT at | 1487.3 crore, up 18.9% YoY (profitability aided by lower tax rate) was above our estimate of | 1275.4 crore.