HDFC Securities: GAIL Q2 Review - Petrochemical Segment Performing Well
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HDFC Securities Report
GAIL India Ltd. reports 15% compound annual growth rate expansion in gas transmission volume over FY21-23E to 137 million metric standard cubic meter per day on the back of -
1. increase in domestic gas production, 2. increase in demand of regasified liquefied natural gas, and 3. completion of major pipelines in the eastern and southern part of India.
Q2 FY21 Ebitda was 9% below our estimate owing to higher-than-expected operating expenses, offset by a 14% rise in revenue.
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