GAIL Share Price Gains After Q2 FY27 Earnings; Flat EBITDA, Stronger Segment Revenue And GAIL Gas Listing In Focus

Shares of GAIL (India) Limited closed higher on 30 October 2026 after the company reported higher revenue for the September quarter, while its operating earnings remained flat. The GAIL Q2 FY27 results were announced in a regulatory filing to the stock exchanges on Friday.

In the filing, the company also announced an important development concerning the proposed listing of its wholly owned subsidiary, GAIL Gas Limited.

On the results day, the GAIL share price closed at ₹167.91, gaining 1.66% from its previous close of ₹165.17. The stock opened at ₹165.99 and touched an intraday high of ₹170.70 and a low of ₹165.50.

GAIL Q2 Results: Key Financials

GAIL (India) Ltd reported consolidated revenue from operations of ₹47,301.03 crore in Q2 FY27, up 32.7% from ₹35,657.23 crore in Q2 FY26. Consolidated profit before tax (PBT) rose to ₹6,100.28 crore from ₹2,565.39 crore, while net profit increased to ₹4,723.75 crore from ₹1,988.71 crore, registering year-on-year growth of approximately 137.5%. Total income for the quarter stood at ₹47,473.89 crore, while finance costs were ₹323.11 crore and depreciation and amortisation expenses stood at ₹1,012.70 crore. On a standalone basis, revenue from operations was ₹45,923.57 crore, PBT stood at ₹5,638.21 crore and net profit was ₹4,650.22 crore.

Its natural gas marketing segment generated revenue of ₹41,226 crore, compared with ₹34,437 crore in the previous quarter. The petrochemicals business recorded a sharp increase in revenue to ₹2,519.5 crore from ₹646 crore sequentially. In contrast, revenue from the liquefied petroleum gas (LPG) and liquid hydrocarbons business declined to ₹1,834 crore from ₹2,039 crore.

The company’s investor presentation also reported consolidated revenue of ₹88,521 crore for H1 FY27. Consolidated EBITDA stood at ₹15,009 crore, while profit before tax (PBT) was ₹12,368 crore and profit after tax (PAT) came in at ₹9,385 crore. These figures cover the six months ended September 2026.

GAIL Board Approves Listing Of GAIL Gas

The board has given in-principle approval to list GAIL Gas Limited through the initial public offering (IPO) route. GAIL plans to dilute up to 25% of its equity in the subsidiary through the IPO.

The final structure and terms are yet to be determined. The subsidiary will submit its proposal after considering recommendations from the book-running lead managers (BRLMs), including valuation, price band and the offering structure. The final extent of dilution and other terms will require further board approval.

GAIL H1 FY27 Capital Expenditure

GAIL spent ₹7,600 crore on capital expenditure (capex) during H1 FY27, against its planned full-year outlay of approximately ₹12,900 crore.

Operational expenditure, including ship chartering, accounted for ₹4,776 crore, or 63% of the total. Other allocations included

• Petrochemicals: ₹748 crore (10%)

• Pipelines: ₹655 crore (9%)

• Equity contributions to joint ventures (JVs) and subsidiaries: ₹442 crore (6%)

• City gas distribution (CGD) projects: ₹389 crore (5%)

• Net zero or renewables: ₹356 crore (4%)

• Exploration and production: ₹234 crore (3%)

The company’s physical performance data also showed natural gas transmission of 126 million metric standard cubic metres per day (MMSCMD) during H1 FY27. Natural gas marketing volume stood at 95 MMSCMD, while petrochemical sales were 226 thousand metric tonnes (TMT).

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