{"id":11483,"date":"2017-06-08T16:24:35","date_gmt":"2017-06-08T10:54:35","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=11483"},"modified":"2017-06-08T16:24:35","modified_gmt":"2017-06-08T10:54:35","slug":"gail-india-ltd","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/gail-india-ltd\/11483","title":{"rendered":"GAIL India Ltd."},"content":{"rendered":"<p><strong>Higher opex and one-offs weighed on Q4 performance\u2026 <\/strong><\/p>\n<p>GAIL (India) Limited is an integrated energy company in the hydrocarbon sector with presence across gas transmission, processing, distribution and marketing in India with a pipeline network of over 11,000 Kms.<\/p>\n<p><strong>Valuations &amp; View<\/strong><\/p>\n<p style=\"text-align: justify;\">We expect revenue\/PAT to grow at a CAGR of ~11%\/18% over FY17-19E driven by higher utilisation levels in Petrochemicals segment coupled with strong transmission volumes. Further, concerns over the expensive long-term US LNG contracts is expected to ease with growth in domestic LNG demand especially from the fertiliser sector coupled with company\u2019s focus to sell more US LNG volumes to European and other consumers on long term basis and swap deals. The management expects a potential demand for ~3mmtpa from the commissioning of five fertiliser plants by end of CY20. Hence, we recommend a \u2018BUY\u2019 rating on the stock with a TP of Rs447 based on SOTP valuation methodology.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2017\/06\/Research-Report-GAIL-India-Ltd.pdf\">Research Report GAIL India Ltd<\/a><\/p>\n<p style=\"text-align: justify;\"><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Higher opex and one-offs weighed on Q4 performance\u2026 GAIL (India) Limited is an integrated energy company in the hydrocarbon sector with presence across gas transmission, processing, distribution and marketing in India with a pipeline network of over 11,000 Kms. Valuations &amp; View We expect revenue\/PAT to grow at a CAGR of ~11%\/18% over FY17-19E driven [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GAIL India Ltd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Gail India Ltd. 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