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GAIL: Lower subsidies boost bottomline

May 29, 2013 | Updated on Oct 30, 2019

Gas Authority of India Ltd (GAIL) has announced the results for the financial year 2012-2013 (FY13). The company has reported 17.5% year on year (YoY) and 10.1% YoY growth in the topline and bottomline respectively for the year. Here is our analysis of the results.

Performance summary
  • The company registered an 18.8% YoY growth in the topline during the quarter. For FY13, the net sales were up by 17.5% YoY.
  • The operating profits registered a growth of 98.9% YoY during the quarter, with margins at 9.6%, as compared to 5.7% in 4QFY12. For FY13, the operating profits were up by 15.5% YoY, with operating profit margins at 13.6%, marginally lower than 13.8% in FY12.
  • The net income for the quarter registered 27.9% YoY growth, with margins at 5.0% versus 4.6% in 4QFY12. For FY13, the net profits were up by 10.1% YoY, with margins at 8.5%, as compared to 9.0% in FY12.
  • The company has provided discount of Rs 5.9 bn for the quarter (down 58.0% YoY) to share under recoveries on LPG. For FY13, the discount stood at around Rs 26.9 bn, down 15.6% YoY.
  • The Board of Directors has recommended a final dividend of Rs 5.6 per share, in addition to an interim dividend of Rs 4 per share.

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