Macquarie has maintained an Outperform rating on GAIL (India) Ltd, with a target price of ₹215, implying a potential upside of approximately 19.5% from the current market price of ₹179.90.
The brokerage noted that while gas transmission volumes fell 8% YoY, EBIT rose 8%, likely due to one-off factors. The gas marketing segment performed in line with estimates, contributing around ₹11 billion in EBIT. However, the petrochemicals segment disappointed, with a 23% QoQ sales drop and an EBIT loss of ₹2.5 billion, missing expectations.
Macquarie remains optimistic on near-term prospects, expecting a 10–30% hike in transmission tariffs, which could support earnings momentum in the coming quarters.
Disclaimer: This article is based on Macquarie’s brokerage report and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
