GAIL’s Annual Result

GAIL’s Turnover increases 21% to Rs. 57,245 crore in FY 2013-14 & 17% in Q4 to Rs. 14464 crore

Net Profit up 9% at Rs. 4,375 crore in FY 2013-14 & 57% in Q4 to Rs. 972 Crore

Board recommends total dividend of 104% on paid up capital

GAIL (India) Limited has recorded sustained performance in financial parameters for the Financial Year 2013-14. According to the audited figures, Turnover (net of excise duty) in the year 2013-14 increased by 21% to Rs. 57,245 crore from Rs. 47,333 crore in FY 2012-13. The Gross Margin during the year 2013-14 increased by 5% to Rs. 7,599 crore from Rs. 7,233 crore. The Profit before Tax during the year 2013-14 increased by 6% to Rs. 6,402 crore from Rs. 6,058 crore in the previous year. The Profit after Tax during the year 2013-14 increased by 9% to Rs. 4,375 crore from Rs. 4,022 crore in the previous year. The Board of Directors has recommended payment of total dividend at the rate of 104% on the paid-up share capital of the Company for FY 2013-14 inclusive of 45% interim dividend already paid. During the year 2013-14, GAIL has contributed Rs. 1900 crore towards subsidy.

Segment-wise Revenue

During the current financial year, sales from Natural Gas Trading increased by 24% to Rs. 48,922 crore as against Rs 39,609 crore in last year. The net sales from Petrochemicals business have increased by 22% to Rs. 4,582 crore as against Rs. 3,765 crore in last year. The net sales from LPG and Liquid Hydrocarbons business during the current financial year increased by 23% to Rs. 5,462 crore as against Rs. 4,434 crore in last year. Revenues from Natural Gas Transmission business have increased by 23% to Rs. 4,104 crore as against Rs. 3,347 crore in last year. Revenues from LPG transmission during the current financial year have increased by 42% to Rs. 418 crore as against Rs. 294 crore in last year. The increase in net profit during the current financial year was mainly due to the increase in revenue from natural Gas Trading, LPG Transmission, E&P Segment, and better price realisation of Petrochemicals and LPG & LHC sales.

Physical Performance

During FY 2013-14, petrochemical production was 436 TMT as against 437 TMT in the last year. During the current financial year, polymer sales increased by 4% to 445 TMT as against 427 TMT in the last year. During the current financial year LPG and Other Liquid Hydrocarbon production was 1,303 TMT, as against 1,376 TMT in the last year. The LPG and Other Liquid Hydrocarbon sales during the current financial year were 1307 TMT, as against 1371 TMT in the last year. The LPG transmission during the current financial year was 3,145 TMT, against 3,136 TMT in the last financial year. The Natural Gas transmission was 96.22 MMSCMD as against 104.90 MMSCMD in the last year. The Natural Gas sales during the current financial year were 79.18 MMSCMD as against 81.44 MMSCMD in the last year. During the year 2013-14, as per consolidated financial statements, the total group sales (net of Excise Duty) were Rs. 61,644 crore. The consolidated Gross Margin was Rs. 8,923 crore, the Profit before Tax was Rs. 6,922 crore and Group Profit after Tax was Rs. 4,786 crore.

The earning per share (EPS) was Rs. 34.49 per share in the year 2013-14 as against Rs. 31.71 per share in the year 2012-13. The EPS as per consolidated statement was Rs. 37.73 per share as against Rs. 34.48 per share in the previous year.

Q4 Results of 2013-14

GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 14,464 crore in the fourth quarter of FY 2013-14 as against Rs. 12,409 Crore, a 17% increase over the turnover in the corresponding quarter during the last financial year. The Gross Margin for the fourth quarter of the FY 2013-14 increased by 26% to Rs. 1,851 crore from Rs. 1,468 crore in the corresponding period of last year. The profit before tax for the fourth quarter increased by 26% to Rs. 1,439 crore from Rs. 1,141 crore. GAIL’s Net Profit for the fourth quarter increased by 57% to Rs. 972 crore against Rs. 618 crore in the corresponding quarter of previous year. Segment-wise Revenue during the fourth quarter of the current financial year net sales from LPG and Liquid Hydrocarbons business during the fourth quarter of the current financial year have increased by 13% per cent to Rs. 1,486 crores as against Rs. 1,315 crores in the corresponding period of last year due to lower contribution to LPG subsidy with comparison to last year. The net sales from Petrochemicals business have decreased by 2% to Rs. 1,180 crore as against Rs. 1,204 crore in the corresponding period of last year. Revenue from Natural Gas Trading have increased by 16% to Rs. 12,198 crore as against Rs. 10,552 crore in the corresponding period of the last year. The revenues from Natural Gas Transmission business have increased by 85% to Rs. 849 crore as against Rs. 458 crore in the corresponding period of previous year. The revenues from LPG transmission have increased by 11% to Rs. 115 crores as against Rs. 104 crores in the corresponding period last year.

The increase in net profit during the fourth quarter of the current financial year was mainly due to increase in revenue of NG transmission, higher price realisation of petrochemical, LPG & Other LHC sales.

Physical Performance

During the fourth quarter of the current financial year, the Natural Gas sales were 76.26 MMSCMD, as against 80.13 MMSCMD during the corresponding quarter of last year. The Natural Gas transmission during the fourth quarter of the current financial year was 94.66 MMSCMD, as against 99.49 MMSCMD in the corresponding period last year. During the fourth quarter of FY 2013-14, the petrochemical production was 83 TMT, as against 119 TMT in the corresponding quarter last year. The polymer sales during the fourth quarter of the current financial year were 107 TMT as against 132 TMT in the corresponding quarter in the previous year. The LPG transmission during the fourth quarter of the current financial year increased by 16 percent to 863 TMT as against 745 TMT during the corresponding quarter in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the fourth quarter of the current financial year was 288 TMT as against 349 TMT in the corresponding quarter of last year. The LPG and Other Liquid Hydrocarbon sales during the fourth quarter of the current financial year were 289 TMT as against 348 TMT in the corresponding period last year.