GAIL FY 10 RESULTS - SALES, PROFITS UP -FY11 WILL BE BETTER

GAIL (INDIA) LIMITED

FY 10 VS FY 09 RESULTS

REVIEW –CONSOLIDATED FIGURES

GAIL has produced a better performance in FY 10 compared to FY 09.

On a consolidated basis, Net Sales has increased to Rs.27035.30 Cr in FY 10 from Rs.24659.37 Cr in FY 09, i.e., an increase of Rs.2376 Cr, or 9.64 % YOY.

Total Expenditure has increased in the same period to Rs.22406.03 Crores from Rs.20979.20 Crores YOY,i.e., an increase of Rs.1427 Crores or 6.8 % YOY.

Consolidated Net Profit for FY10 has therefore increased to Rs.3327.83 Crores from Rs.2826.35 Crores in FY 09.(Rs.502 Cr or 17.76 percent YOY)

Consequently, Basic EPS has increased to Rs.26.23 in FY10 from Rs.22.28 in FY09.i.e., 17.73%.

At the current price of Rs.441 and the consolidated EPS of Rs.26.23, the PE ratio works out to 16.81 - leaving not much scope for immediate price appreciation.

REVIEW – NON CONSOLIDATED FIGURES

Net Sales on non-consolidated basis has increased to Rs. 24996.40 Crores in FY10 from Rs.23775. 95 crores in FY 09.( Rs.1220 cr,or 5.13% YOY)

Total Expenditure has increased to Rs.20889.03 Cr from Rs.20281.55 Crores (Rs.607 Cr; or 2.99 percent YOY)

Net Profit has increased from to Rs. 3139.84 Cr in FY10 from Rs.2803.70 cr in FY 09(Rs.336 Cr; or,11.98%).

Dividend (%) has been increased to 75 % from 70% YOY.

The stand-alone Basic EPS has increased to Rs. 24.75 in FY10 from Rs.22.1 in FY 09.

QUARTERLY FIGURES REVIEW

Net Sales has increased in Q4 to Rs.6522.12 Crores from Rs.6187.84 in preceding Quarter (Rs.334 CR, or, 5.4%)and from Rs.6104.31 Cr in same quarter of last year.

Net Profit  has also registered good improvement at Rs.910.82 Crores compared Rs.859.95 in Q3 (+5.93%) and   Rs. 630.02 Cr in same quarter last year.

Consequently, Basic EPS has shown some improvement at Rs.7.18 in Q4 compared to Rs.6.78 in Q3 and Rs, 4.97 in Q4 of last year.

 All of its Business segments are likely to improve their performance considerably in the quarters ahead and report higher profits. Even if Gas transmission rates approved for it come down, based on higher gas volumes transported, GAIL may make significant gains in coming quarters.

CONSOLIDATED ANNUAL FIGURES

Description::   FY 10(Rs. in lakhs) :: FY 09 ::(Rs. in lakhs)

Net Sales ::  2703530  ::  2465937

Other Operating Income  ::  12697  ::  19815

Increase/Decrease in SIT & WIP :: -1995  :: -383

Raw Materials :: 219934 :: 212831

Purchase of traded goods:: 1574801 :: 1517985

Employees Cost :: 66888 :: 61240

Depreciation :: 82343 :: 71835

Other Expenditure :: 298632   :: 234412

Total Expenditure :: 2240603 :: 2097920

Other Income  :: 45269 :: 63387

Interest :: 38534 :: 23121

P B T :: 482359 :: 428098

Tax Expense ::             153130  :: 149093

P A T :: 329229 ::         279005

Net Profit  :: 329229    :: 279005

Minority Interest ::      - :: -3630

Shares of Associates::             -3554   :: -

Consolidated Net Profit :: 332783 ::   282635

Dividend (%)    -           -

Face Value (in Rs.)::    10 ::     10

Paid-up Equity :: 126848 :: 126848

Reserves :: 1654147 ::            1413239

Basic EPS :: (in Rs.) ::  26.23   :; 22.28

Diluted EPS  (in Rs.) :: 26.23   :: 22.28

NON CONSOLIDATED ANNUAL FIGURES

Description     FY10(Rs. in lakhs) :: FY 09(Rs. in lakhs)

Net Sales :: 2499640   :: 2377595

Total Expenditure        2088903          2028155

P B T :: 457847 ::         420402

Tax Expense    :: 143863 ::      140032

P A T :: 313984 :: 280370

Net Profit :: 313984 ::  280370

Dividend (%) :: 75 :: 70

Face Value (in Rs.) ::10  :: 10

Paid-up Equity :: 126848 :: 126848

Reserves ::  1553052 :: 1350115

Basic EPS:(in Rs.) :: 24.75 :: 22.1

Diluted EPS(in Rs.) :: 24.75 :: 22.1

QUARTERLY FIGURES COMPARISON

Q/E::31-Mar-10 :: 31-Dec-09  :: 30-Sep-09 ::  30-Jun-09 :: 31-Mar-09

Net Sales  :: 652212 :: 618784 :: 620218 :: 602142 :: 610431

Total Exp:: 534423 ::   505913 :: 532650 :: 509633 :: 528780

Net Profit :: 91082 :: 85995 ::  71323  :: 65584 :: 63002

Face Value (In Rs) ::    10 ::     10 ::     10 ::     10 ::10

Basic EPS ::  7.18 :: 6.78 :: 5.62 :: 5.17 :: 4.97

ANNMOUNCEMENTS TO THE EXCHANGE

17-05-2010      Gail (India) Limited has informed the Exchange regarding a press release dated May 17, 2010, titled "GAIL's Turnover Increases 5% to Rs. 24,996 crore in FY 2009-10 - Net Profit up 12% at Rs. 3140 crore - Board recommends total dividend of 75% on paid up capital".        Click Here

17-05-2010      Gail (India) Limited has informed the Exchange that at the Meeting of Board of Directors held on May 17, 2010 have recommended the payment of Final Dividend @ 55% (Rs. 5.50/- per share) on the paid-up equity share capital of the Company for the FY 2009-10, subject to approval of shareholders in the ensuing Annual General Meeting.        -

17-05-2010      GAIL (India) Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 2499640 lacs for year ending on 31-MAR-2010 against Rs. 2377595 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 313984 lacs for the year ending on 31-MAR-2010 against Rs. 280370 lacs for the year ending on 31-MAR-2009.            -

17-05-2010      GAIL (India) Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 652212 lacs for quarter ending on 31-MAR-2010 against Rs. 610431 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 91082 lacs for the quarter ending on 31-MAR-2010 against Rs. 63002 lacs for the quarter ending on 31-MAR-2009.       -

17-05-2010      GAIL (India) Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 2703530 lacs for year ending on 31-MAR-2010 against Rs. 2465937 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 332783 lacs for the year ending on 31-MAR-2010 against Rs. 282635 lacs for the year ending on 31-MAR-2