GAIL (India) Limited

GAIL.BO

Regulated Gas · Utilities

Price

₹173.00

-3.00 (-1.70%)

Market Cap

₹1.13T

Exchange

Bombay Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−1.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 6.66B (2022) → 6.58B (2026)

GAIL (India) Limited is India's largest state-owned natural gas company. It builds and operates the pipelines that carry natural gas from where it is produced to homes, factories, and power plants across India. The Indian government owns a majority stake in GAIL, and the company also sells natural gas directly, processes it into petrochemicals like plastics, and distributes compressed natural gas (CNG) for vehicles.

GAIL earns money by charging fees to transport gas through its pipelines, selling gas and liquid hydrocarbons, and selling petrochemical products. It operates primarily in India, with a pipeline network stretching thousands of kilometers, making it the dominant player in the country's gas transmission infrastructure. Its government backing and control of critical pipeline assets give it a strong competitive position, but its growth depends heavily on India expanding its natural gas consumption — a goal that faces competition from renewable energy and requires significant infrastructure investment.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-2.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-40.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

59.0%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$263.5B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

GAIL (India) Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

19.9%

Thin — 19.9% gross margin

Operating Margin

14.8%

Healthy — 14.8% operating margin

ROCE

5.6%

Weak — 5.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+3.5%

Slow sales growth (+3.5% YoY)

EPS YoY

-15.1%

Earnings shrinking (-15.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

58%

Weak — only 58% of profit becomes cash

FCF Margin

1.2%

Thin free cash flow (1.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.22

Conservative — low debt load (0.22)

Interest Cover

10.39x

Comfortably covers interest (10.4x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

11.5x

Attractive valuation — P/E 11.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+0.1

GROWING

Earnings roughly flat

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

3.31%

Moderate income — 3.31% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-16.1%

Dividend cut (-16.1% YoY) — warning sign

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial