GAIL eyes expansion in petrochemicals, speciality chemicals & renewables

Nidhi Jani
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GAIL eyes expansion in petrochemicals, speciality chemicals & renewables

GAIL (India) is eyeing expansion in petrochemicals, speciality chemicals and renewables to supplement growth in its core business of natural gas marketing and transportation.

The nation's largest gas marketer and shipper has adopted a revised strategic plan identifying priority business initiatives. This strategic plan will help the company to address its challenges in the changing industry scenarios and provide new areas for growth with geographic expansion.

Earlier this month, the company has announced its quarterly results for the quarter ended June 30, 2020. The company posted a consolidated net profit of Rs 642.97 crore in Q1FY21, declined by 57.24 per cent YoY. The consolidated net sales in Q1FY21 came in at Rs 12,180.62 crore, which declined by 34.09 per cent YoY from Rs 18,481.56 crore in Q1FY20. At EBITDA level, the company stood at Rs 693.73 crore in Q1FY21 that decreased by 70.57 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 2,357.61 crore. EBITDA margin as of Q1FY21 was at 5.7 per cent that declined by 7.06 per cent YoY. The net profit margin in Q1FY21 came in at 5.28 per cent, which declined by 2.86 per cent YoY. The net profit margin in Q1FY20 was at 8.14 per cent.        

The financial performance was severely impacted due to the nationwide lockdown during the earlier part of the quarter coupled with lower price realisation in petrochemicals, liquid hydrocarbons and natural gas.

GAIL (India) is India's leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production and transmission including LNG regasification, petrochemicals, city gas, E&P, etc.

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