GAIL Q2 profit up 110%; Rs 3,831 crore excise demand pending at Supreme Court

Emphasis of matterRevenue growth above 20%Profit growth above 25%EBITDA margin expansionContingent liabilities increasedResults View source PDF Explain this filing

GAIL · price

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Price reactionminutes from the announcement price · days from the prior close

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₹165.22

prior close

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announcement price

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Nifty 100market+0.3%+1.3% vs market

Gas peers, median of 8sector · industry level-1.8%+3.4% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty 100 and 3.4 pts more than its Gas peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Standalone Q2 revenue rose 31% to Rs 45,923.57 crore; profit after tax jumped to Rs 4,650.22 crore from Rs 2,217.24 crore and EPS was Rs 7.07. Half year profit was Rs 8,942.55 crore versus Rs 4,103.56 crore. Auditors flagged PNGRB tariff disputes and an Rs 3,831 crore excise demand on naphtha classification, kept as contingent liability with a Supreme Court appeal. LNG allocation was cut to zero from March 2026.

Likely market impact

Profit growth is positive and auditors did not qualify the results, but the Rs 3,831 crore excise claim and LNG supply cuts are risks.

By the numbersConsolidated · Q2 FY27 vs Q2 FY26

	Q2 FY27	Q2 FY26	Change
Revenue	₹47,301 Cr	₹35,657 Cr	+32.7%
Operating profit	₹5,656 Cr	₹2,050 Cr	+175.9%
Profit after tax	₹4,724 Cr	₹1,989 Cr	+137.5%
EBITDA margin	14.8%	9.7%	+5.1 pp

From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.