Analyst Meet / AGM - Analyst Meet

02-Jun-2014, 10:22
GAIL (India) held an analyst meet to discuss results for the quarter end year ended March 2014. Senior management of the company addressed the meet.

Highlights of the meet

• GAIL has shared Rs 500 crore towards LPG subsidy in the quarter ended March 2014 compared to Rs 587.18 crore in the corresponding previous year period. During the year FY'14, GAIL has contributed Rs. 1900 crore towards subsidy.

• PBIT margins of the company was down by 200 bps to 8.1% due to 2250 bps decrease in petrochemical segment PBIT margins to 16.6%, 950 bps fall in LPG transmission PBIT margins to 50.4% and 90 bps fall in Natural gas trading segment PBIT margin to 2.3% aided by 400 bps fall in LPG and Liquid hydrocarbon segment PBIT margins to 33.5% limited by 2180 bps rise Natural gas trading PBIT margins to 30.7%.

• Total cash capital expenditure by the company in FY'14 was over Rs 4000 crore

• Total loans outstanding as on 31^st March 2014 was Rs 10268 crore. Domestic loan was Rs 4680 crore while foreign currency loan was Rs 5588 crore.

• The company earned maiden Gross revenue of Rs 170 crore from Myanmar Blocks. Revenue from Myanmar Block expected to double during FY15

• Average LHC price realisation for FY14 was over Rs 56000 per MT

• Average polymer price realisation for FY14 was over Rs 96000 per MT

• Drywell expenditures write-off's during FY'14 was Rs 41 crore

• Borrowing cost capitalized during FY'14 was Rs 351 crore.

• Total Gas supplied by GAIL during FY14 was 79 MMSCMD. Sector wise gas supplied to power sector was 31% of total gas supplied, fertilizer 32%, LPG 3%, Petrochem and refineries 9%, City gas 11%, steel 3% and others 11%.

• The company has a total long term import portfolio of 23.8 MMTPA or 85.6 MMSCMD of gas from Russia, Middle East, Australia and USA.

• LNG cargos received in FY14 was 26 cargos. For FY'15 the company expects to receive 35 cargos.

• The company expects domestic supplies of gas to increase by around 4 MMSCMD by end of FY15

• Expansion of Pata Petrochemical Complex from existing 0.4 MTPA to 0.8 MTPA is expected to be complete by 3rd Quarter FY'15 with approved Project Cost of Rs 8140 crore.

• ONGC Petro Additions Ltd. (OPAL) is implementing dual feed cracker petrochemical project at Dahej with ethylene capacity of 1.1 MTPA and 0.4 MMTPA of Propylene capacities. GAIL has 15.5% equity stake (investment of Rs 995 crore) along with co-promoter status. The project is expected to be complete by March 2015

• Brahmaputra Gas Cracker & Polymers is expected to be complete by September 2014. The plant will process 7 MMSCMD of gas and 160,000 TPA Naphtha. BCPL will produce 0.22 MTPA of HDPE/LLDPE, 0.06 MTPA of Polypropylene

• The company plans to support JVs / subsidiaries for CGD expansion to 40-60 cities

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