From ₹1,886 Cr Profit to Ambitious LPG Expansion: GAIL’s Q1 Story and upcoming Major Support

Financial Performance**** Net profit: ₹1,886 crore, down 30.77% YoY from ₹2,724 crore in Q1 FY25. Revenue from operations: ₹34,768 crore, slightly above the CNBC-TV18 poll estimate of ₹34,474 crore. EBITDA: ₹3,334 crore, marginally below the Street estimate of ₹3,389 crore; EBITDA margin at 9.6% vs. projected 9.8%. Segmental Performance**** Petrochemicals: segment loss widened to ₹249 crore in Q1, up from ₹42 crore in the year-ago quarter. Natural gas marketing: earnings nearly halved to ₹1,071.6 crore, reflecting lower margins and volumes. Operational and Strategic Updates**** Capital expenditure of ₹3,176 crore during Q1, focused on pipelines, petrochemicals, and equity contributions to JVs. LPG pipeline expansion: PNGRB approved doubling Jamnagar–Loni capacity from 3.25 MTPA to 6.5 MTPA at an estimated ₹5,000 crore capex, targeting completion within three years. This will significantly cut CO₂ emissions and reduce road mishaps and leaks. Major Support**** After Q1 result, Gail May see a bottom of Rs. 175, which is major and strong support now, Strong Resistance at 190.