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GAIL Q2 Review— Tariff Hikes, Volume Uplift Key Catalysts In H2 FY26-27; Motilal Oswal Maintains 'Buy'
The anticipated transmission tariff revision serves as a key near-term catalyst for GAIL, adds Motilal Oswal, maintaining 'Buy' rating.
03 Nov 2025, 11:16 AM IST 
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While the tariff outcome has seen a significant delay, GAIL remains confident of an announcement in the coming months.
(Photo Source: Company website)
In Q2 FY26, GAIL’s standalone Ebitda was 5% above estimate at Rs 31.9 billion. While gas transmission Ebit missed brokerage's estimate by 6%, the marketing segment posted a strong performance, and H1 FY26 Ebit now forms ~50% of the guidance of Rs 45 billion.
