GAIL (India) LimitedQ1 FY27 Results & Financial Update
GAIL (India) Limited: Q1 FY27 consolidated results and company financials – revenue ₹38,982.00 Cr, PAT ₹696,800.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore GAIL (India) Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
GAIL (India) Limited commenced fiscal year 2026-27 amid severe geopolitical volatility and supply disruptions in West Asia, which impacted certain volume segments such as gas marketing and polymers.
Despite external headwinds, the company leveraged its portfolio flexibility and spot sourcing capabilities to maintain a resilient supply chain and support domestic energy requirements.
On a consolidated basis, GAIL reported operating revenue of ₹38,982 crore for Q1 FY27, backed by resilient performance in transmission and liquid hydrocarbon operations.
Natural gas transmission volumes increased sequentially to 122.36 MMSCMD compared to 118.99 MMSCMD in the preceding quarter, demonstrating the underlying strength of core pipeline infrastructure.
Liquid hydrocarbon (LHC) production improved to 232 TMT from 194 TMT in Q4 FY26, while LPG transmission stood at 1,077 TMT.
Conversely, gas marketing volumes and polymer production faced pressures from West Asia supply shocks, registering 93.82 MMSCMD and 51 TMT respectively.
Capital expenditure during the quarter reached ₹6,176 crore, progressing well toward the annual planned capex target of approximately ₹11,500 crore in line with long-term growth objectives.
GAIL (India) Limited announced its financial results for the first quarter of financial year 2026-27 (Q1 FY27), navigating an operating environment shaped by sharp West Asia geopolitical volatility.
01 · Business model
What does GAIL (India) do?
GAIL (India) Limited is India's leading natural gas company, operating across the natural gas value chain including transmission, trading, extraction of liquid hydrocarbons, petro-chemicals, and city gas distribution networks.
The company generates its primary revenues through the transmission of natural gas via an extensive pipeline network across India, natural gas marketing, and production and sale of liquid hydrocarbons and polymers.
GAIL plays a vital role in India's energy security by maintaining critical pipeline infrastructure, diversifying supply sources through long-term LNG contracts and spot sourcing, and supporting the nation's clean energy transition.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹38,982.00 Cr |
| Profit before tax | ₹6,268.00 Cr |
| Profit after tax | ₹696,800.00 Cr |
| EPS | ₹31.00 |
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Natural gas transmission volumes increased to 122.36 MMSCMD in Q1 FY27 compared to 118.99 MMSCMD in Q4 FY26, supporting core transmission revenue.
LHC production increased sequentially to 232 TMT from 194 TMT, bolstering hydrocarbon-related revenue streams.
LHC production expanded sequentially to 232 TMT from 194 TMT in the preceding quarter.
Gas marketing volume moderated to 93.82 MMSCMD from 101.88 MMSCMD, and polymer production contracted to 51 TMT from 153 TMT due to external supply and West Asia crisis disruptions.
What drove margins
Management mitigated external cost pressures and supply chain shocks through portfolio flexibility and spot LNG sourcing.
Strong performance in core transmission and liquid hydrocarbons provided stability, offsetting headwinds in polymer realisations and gas marketing spreads.
Higher capacity utilization and operational throughput in the gas transmission and LHC segments supported overall profitability.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Delivered 122.36 MMSCMD during Q1 FY27 compared to 118.99 MMSCMD in Q4 FY26.
Recorded gas marketing volumes of 93.82 MMSCMD in Q1 FY27 compared to 101.88 MMSCMD in the previous quarter.
Polymer production stood at 51 TMT in Q1 FY27, compared to 153 TMT in Q4 FY26, impacted by external supply disruptions.
LHC production increased to 232 TMT in Q1 FY27 from 194 TMT in Q4 FY26.
LPG transmission volume stood at 1,077 TMT compared to 1,114 TMT in Q4 FY26.
Achieved throughput of 122.36 MMSCMD during the quarter, up from 118.99 MMSCMD in Q4 FY26.
Handled lower trading volumes of 93.82 MMSCMD compared to 101.88 MMSCMD previously due to external geopolitical headwinds.
Polymer production stood at 51 TMT (vs 153 TMT in Q4 FY26), whereas LHC production rose to 232 TMT (vs 194 TMT in Q4 FY26).
Recorded LPG transmission volume of 1,077 TMT compared to 1,114 TMT in the preceding quarter.
05 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Polymer production was recorded at 51 TMT for the quarter amidst feedstock adjustments.
LHC production rose to 232 TMT during the quarter.
Projects, capex and execution
The company recorded a capex of ₹6,176 crore during Q1 FY27 against an annual planned capex of approximately ₹11,500 crore.
Received PNGRB authorization for three LPG pipelines: Jhansi-Sitarganj, Cherlapalli-Nagpur, and Shikrapur-Hubli-Goa, spanning over 1,800 km with an estimated investment of around ₹6,700 crores over three years.
06 · Strategy & new businesses
How the company is trying to change its growth mix
Pursuant to an NCLT order, Konkan LNG Limited (KLL) became a wholly-owned subsidiary of GAIL during the period.
GAIL received PNGRB authorization for 3 new LPG pipelines: Jhansi-Sitarganj, Cherlapalli-Nagpur, and Shikrapur-Hubli-Goa, spanning over 1,800 km with an estimated investment of ~₹6,700 crores over three years.
07 · Reported developments
What changed operationally
Growth in natural gas transmission and liquid hydrocarbon production demonstrated the strength of GAIL's core infrastructure assets.
Secured major PNGRB pipeline authorizations spanning 1,800+ km to expand infrastructure reach.
Strong sequential volume growth in natural gas transmission (122.36 MMSCMD) and LHC production (232 TMT) underscored the resilience of GAIL's core infrastructure assets.
Company successfully navigated West Asia crisis volatility through spot sourcing and portfolio optimization, ensuring uninterrupted customer support.
08 · Pressure points & risks
What is not going smoothly
West Asia crisis and supply constraints led to lower gas marketing volumes and reduced polymer production during the quarter.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
LPG Pipeline Authorizations
Received PNGRB authorization for three key LPG pipelines (Jhansi-Sitarganj, Cherlapalli-Nagpur, and Shikrapur-Hubli-Goa) totaling over 1,800 km.
10 · Key Q&A
The quarter, answered directly
What does GAIL (India) do?
GAIL (India) Limited is India's leading natural gas company, operating across the natural gas value chain including transmission, trading, extraction of liquid hydrocarbons, petro-chemicals, and city gas distribution networks.
What is the clearest takeaway from Q1 FY27?
GAIL (India) Limited commenced fiscal year 2026-27 amid severe geopolitical volatility and supply disruptions in West Asia, which impacted certain volume segments such as gas marketing and polymers.
What drove revenue or demand?
Natural gas transmission volumes increased to 122.36 MMSCMD in Q1 FY27 compared to 118.99 MMSCMD in Q4 FY26, supporting core transmission revenue.
What mattered most for margins or profitability?
Management mitigated external cost pressures and supply chain shocks through portfolio flexibility and spot LNG sourcing.
What changed operationally beyond the headline numbers?
Polymer production was recorded at 51 TMT for the quarter amidst feedstock adjustments.
What are the main pressure points disclosed for the quarter?
West Asia crisis and supply constraints led to lower gas marketing volumes and reduced polymer production during the quarter.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Annual Capex Execution: Monitor the deployment toward the targeted annual capex of approximately ₹11,500 crore.
- 02
Pipeline Project Progress: Track execution milestones on the newly authorized LPG pipeline projects totaling over 1,800 km.
- 03
Annual Capex Execution: Monitor progress against the annual planned capex target of approximately ₹11,500 crore (having spent ₹6,176 crore in Q1 FY27).
- 04
LPG Pipeline Project Rollout: Track execution milestones on the newly authorized Jhansi-Sitarganj, Cherlapalli-Nagpur, and Shikrapur-Hubli-Goa LPG pipelines.
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