Interim report
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ND/GAIL/SECTT/2026 30.10.2026 Listing Compliance National Stock Exchange of India Limite d Exchange Plaza, 5th Flo or, Plot No. C/1 G Block, Bandra-Kurla Complex Bandra (East) Mumbai – 400051 Scrip Code: GAIL-EQ Listing Compliance BSE Limited Floor 1, Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400001 Scrip Code: 532155 Sub: Outcome of the Board Meeting–Un-Audited Financial Results (Standalone & Consolidated) for the Quarter and Half year ended 30.09.2026 Sir/ Madam, This is in reference to our letter of even no. dated 16.10.2026. Pursuant to the SEBI Circular dated 30th January, 2026, please find enclosed the following: 1. Un-Audited Financial Results (Standalone & Consolidated) of the Company for the Quarter and Half year ended 30.09.2026 approved by the Board of Director s of the Company at its meeting held today i.e. on 30.10.2026 along with Limited Review Report in acco rdance with Regulation 33, 52(1) and 52(4) of SEBI (Listing Obligations a nd Disclosure Requirements) Regulations, 2015. 2. State ment indicating no Deviatio n or Variation in the use of proceeds of issue of listed non-convertible unsecured Debentures in accordance with Regulation 52(7) & 52(7A) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 3. Format for disclosing outstanding default on loans and debt securities. 4. Security cover is available in accordance with Regulation 54(2) & 54(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 11:00 A.M. and concluded at 02:25 P.M. T his disclosure is in compliance of SEBI (Lis ting Obligations and Disclosure Requirements ) Regulations, 2015. Thanking you Yours Faithful ly (Deepak Asija) Co mpany Secretary Encl.: As above "m;J (~~~,) ~flte'5 (ifRo ffilfiR <lil iJCllli"'l - lfffiM cfi'q;:f)) GAIL (India) Limited (A Government of India Undertaking -A Maharatna Company) Regd.Office: GAILBHAWAN 16 BHIKAIJI CAMA PLACE, R.K. PURAM NEWDELHl·lloo66, INOIA l!iA/PHONE: +91 112618 2955 m/FAX : +91112618 2955 f~"R/Email: info@gail.co.in ~~/CIN L40200DL1984GOl018976 www.gailonline.com
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Copy to: 1. Deutsche Bank AG The Capital, 14th Floor C-70, G Block, Bandra Kurla Complex Mumbai -400051 Deutsche Bank AG 2 London Stock Exchange AVS No. - 772950 Regulatory News Service Department (RNS), 10, Paternoster Square, London EC4M7LS 3. Beacon Trusteeship Limited 4 C and D Siddhivinayak Chambers, Gandhi Nagar, Opposite MIG Cricket Club Bandra East, Mumbai -400051
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ARUN K. AGARWAL & ASSOCIATES CHARTERED ACCOUNTANTS 105, FF, South Ex. Plaza - 1, 389, Masjid Moth, South Extn. Part-II, New Delhi-110049 RAVI RAJAN & CO LLP CHARTERED ACCOUNTANTS S0SC, Rectangle 1, District Centre, Saket, New Delhi-110017 Independent Auditors' Limited Review Report on the Unaudited Standalone Financial Results of GAIL {India) Limited for the quarter and half year ended September 30, 2026, pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Review Report to The Board of Directors GAIL (India) Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of GAIL (India) Limited (the "Company") for the quarter and half year ended September 30, 2026 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulations"), including relevant circulars issued by SEBI from time to time. 2. This Statement, which is the responsibility of the Company's Management, has been reviewed by the Audit Committee and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('IND AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. Emphasis of Matter We draw attention to: (i) Note No. 3 to the accompanying Statement regarding two provisional tariff orders issued by Petroleum and Natural Gas Regulatory Board (PNGRB) in respect of Petroleum and Petroleum Product Pipelines, which are contested by the Company at Appellate Tribunal for Electricity (APTEL). djustment, if any, will be recognized as and when matter is finally decided.
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(ii) Note No. 4 to the accompanying Statement regarding CESTAT order confirming the demand for the differential amount by the Central Excise Department in the matter pertaining to classification of 'Naphtha' manufactured by the Company amounting to , 2889 crores (with interest up to September 30, 2026 , 3831 crores) including applicable penalty and interest thereon. Considering the merits of the case, the Company has filed an appeal before the Hon'ble Supreme Court. Based on the legal opinion obtained, the Company does not foresee any probable outflow in the matter and accordingly has treated the same as contingent liability. Our conclusion on the Statement is not modified in respect of the above matters. 6. Other Matter The Statement includes interim financial results/information of exploration & production operations, whose results reflect total revenue of, 324.48 crores and , 628.34 crores, total net profit before tax of, 152.47 crores and, 319.24 crores and total comprehensive income of, 152.47 crores and, 319.24 crores for the quarter and half year ended September 30, 2026 respectively, total assets of , 1776.64 crores and total liabilities of , 313.23 crores as at September 30, 2026, which have not been reviewed by their auditors. Such interim financial results/information are based on the statement from the Operators. Management is of the view that this will not have a material impact on the Company's Financial Results. Our conclusion on the Statement is not modified in respect of the above matter. For ARUN K. AGARWAL & ASSOCIATES Chartered Accountants Firm's Registration No.: 003917N Partner M. No.: 413012 UDIN: 26413012WZZUXZ6321 Place: New Delhi Date: October 30, 2026 For RAVI RAJAN & CO LLP Chartered Accountants Firm's Registration No.: 009073N/N500320 Sachin Kumar Jindal Partner M. No.: 531700 UDIN: 26531700NHUVEV2226
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Sr. No. 1 2 3 4 5 6 7 8 9 10 GAIL (India) Limited NewDelhl Statement of Standalone Unaudited Financial Results for Quarter and Half Year Ended 30th Septembe r 2026 (=tin Crore Except EPSl For the Quarter ended For the Half Year Ended For the Financial Year Ended Particulars 30th September 30th June 2026 30th September 30th September 30th September 31st March 2026 2026 2025 2026 2025 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Income Revenue from Operations 45,923.57 38,981.63 35,031.24 84,905.19 69,823.69 1,38,696.52 Other Income 639.42 571.91 792.57 1,211.33 1,084.48 2,786.77 Tota l Income 46,562.99 39,553.54 35,823.81 86,116.52 70,908.17 1,41,483 .29 1-:xpenses Cost of Material s Consumed 2,921 .03 1,405.84 2,123.81 4,326.87 3,877.79 8,031.52 Purchase of Stock in trade 34,717 .98 29,698.22 27.049.54 64.416.20 53,410.89 1,07,340.68 Changes in Inventories of Finished Goods, Stock in Trade and (1,062.26) (1,211.80 ) (191.32) (2,274.07) 740.65 1,306.39 Work in Progress Employee Benefit Expenses 500.78 511.42 537.17 1,012.21 1,066.15 1,902.53 fi nance Costs 314.88 309.70 229.75 624.58 439.13 942.08 Depredation and Amortization Expense 897.83 864.79 930.19 1,762.61 1,812.97 3,212.87 Excise Duty 28.63 28.97 23.19 57.60 46.72 95.57 Other Expenses 2,405.91 2,173.17 2,298.29 4,579.08 4,157.27 9.687.98 Total Expenses 40 ,724.78 33,780.31 33,000 .62 74,505.08 65,551.5 7 1,32 ,5 I 9.62 ProOt Before Tax (1-21 5 838.21 5 773 .23 2 823.19 11 6 11.44 5 356.60 8%3.67 Tax Expense: (i) Current tax -Current Year 1,026.31 1.285.13 574.66 2.311 .44 1,194.15 1,490.03 -Adjustment of tax relating to earlier periods 12.72 (315.50) 12.72 (315.50) (315.50) (ii) DeFerre<l tax 161.68 183.05 346.79 344.73 374.39 820.84 Total Tax Expenses (i+ii) 1,187. 99 1,480 .90 605.95 2,668 .89 1,253.04 1,995 .37 Net Profit/ (Loss) after tax (3·4) 4,6 50 .22 4,29 2.33 2,217.24 8,942 .55 4,103.56 6,968.30 Other Comprehensive Income (OCI) a) Items to be reclassified to Profit or Loss in subsequent periods: Net movement in cash flow hedge gain /(loss) (536.40) 721.76 (63.99) 185.36 (270.46) (877.15 ) Income tax effect thereon 135.00 (18165) 16.10 (46.65) 68.07 220.76 Net OCI to be reclassified to Profit or Loss in subsequent (401.40) 540.11 (47.89) 138 .71 (202.39) (656.39 ) peri ods b) Items not to be reclassified to Profit or Loss In subsequent periods : (i) Re-measurement gain / (loss) on defined benefit plans 135.22 Income tax effect thereon (34.03 ) 101 .19 CU) Net gain/(loss) on FVTOCI equity Securities (276.42) (1,532.41) (138.46) (1,808.82) (202.36) 1,216.31 Income tax effect thereon 39.98 219.08 21.08 259.06 30.33 (173.76) (236 .44) (1 ,3 13.33) (ll7 .38) (1,549. 76) (172 .03] 1,042.55 Net Other Comprehensive Income not to be reclassified to (236.44) (1,3 13.33) (117 .38] (1,549.76) (172.03) 1,143.74 Profit or Loss in subsequent pertod s(i+ii): Other Comprehensive Income for the period , net of tax (637.84) (773 .22) (165.27 ) (1,411.05 ) (374.42) 487.35 (a+b) Total Comprehensive Income for the period (Profit and 4,012.38 3,S19.11 2,051.97 7,531 .50 3,729 .14 7,455.65 Loss and OCI), Net of Tax (5+6) Paid-up Equity Share Capital (face value of l 10 each} 6,575.10 6,575.10 6,575.10 6,575.10 6,575. 10 6,575.10 Reserves excluding Revaluation Reserve as per Balance Sheet 59.790.23 Earnings per share (in lt) (Face value or,10 each) a} Basic 7.07 6.53 3.37 13.60 6.24 10.60 b) Diluted 7.07 6.53 3.37 13.60 6.24 10.60 fl:~PS for the Quar ter ;m d Half Year not annu a lised] There 1s no d1scontmued operation durmg the penod
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GAIL (Ind ia) Limited New Delhi Standalon e Segment wise Revenue, Results , Assets and Liabilities for the Quarter and Half Year Ended 30th September 2026 For the Quarter ended For the Half Year ended Sr. Particulars 30th September 30th September 30th September 30th Septembe r No. 2026 30th June 2026 2025 2026 2025 Unaudited Unaudited Unaudited Unaudited Unaud ited 1 Segment Revenue # A. Transmission Services I) Natural Gas 3,310.71 3,042.09 2,735.39 6,352.80 5,540.77 II) LPG 234.55 226.49 231.73 461.04 458.19 8. Natural Gas Marketing 41,226.04 34,437.58 31,422.71 75,663.62 62,425.80 C. Petrochemica ls 2,519.54 646.08 2,001.56 3,165.62 3,682.74 D. LPG And Liquid Hydrocarbons 1,834.05 2,039.21 1,150.20 3,873.26 2,255.60 E. Other Segment* 708.12 657.87 541.23 1,365.97 1,072.23 F. Unallocated 0.62 0.05 0.27 0.67 0.32 Tota l 49833.63 1H 049.37 38 OBJ.09 90,882.96 75435 .65 Less : Inter- Segment Revenue 3,910.06 2,067.74 3,051.85 5,977.79 5,611.96 Sales I Income fro m QperJ tian..'i 45 923.57 38 981.63 35 031.24 84 905.19 69 823. 69 2 Segment Results {Proflt/(Loss ) before Interest and Tax) A. Transmission Services I) Natural Gas 1,926.46 1,782.65 1,413.88 3,709.11 2,971.44 II) LPG 132.39 122.87 128.77 255.26 249.04 B. Natural Gas Marketing 3,284.30 3,481.29 1,304.12 6,765.59 2,375.72 C. Petrochemi cals (22.15) (122.53) (299,24) (144.68) (547.87) D. LPG And Liquid Hydrocarbons 442.13 772.50 111.79 1,214.63 316.80 E. Other Segment• 188.67 200.52 146.7 1 389.18 337.95 Total Profit before Interest and Tax 5,95 1.80 6 237.30 2 ,806.03 12 189.09 5 703.08 Add / (Less ): (i) Other Un-allocable expenditure net of Unallocable Income 201.29 (1 54.37) 246.91 46.93 92.65 {ii) Finance Cost (314.88) (309.70) (229.75) (62'1.58) (439.13) Tot.al Profit befo re Tax 5 638.2 1 5 773.23 2,823 .19 11,6 11.44 5 356.60 3 Segment Assets A. Natural Gas Transmission/ Marketing 76,412.66 73,310.00 65,571.22 76,412.66 65,571.22 B. LPG Transmission 991.38 969.32 988.59 991.38 988.59 C. Petrochemicals 21,299.18 20,386.91 18,599.30 21,299.18 18,599.30 D. LPG And Liquid Hydrocarbons 2,417.16 2,708.06 1,757.21 2,417.16 1,757.21 E. Other Segment• 5,212.47 4,858.93 3,898.02 5,212.47 3,898.02 F. Un Allucatcd 29.653.63 28 497.29 28,2 11.94 29 653.63 2821lM Total Assets l 35 986.48 1 30 73 0.5 I 1 19.026 .28 t 35 986.48 11 9,026.28 4 Segmen t Liabilities A. Natural Gas Transmission / Marketing 30,021.29 25,116.41 20,554.32 30,021.29 20,554.32 8. LPG Transmission 150.47 152.03 139.67 150.47 139.67 C. Petroche micals 1.517.48 1.355.07 1,527.52 1,517.48 1,527.52 D. LPG And Liquid Hydrocarbons 254.04 300.01 167.55 254.04 167.55 E. Other Segment • 1.026.43 950.64 032.17 1,026.43 632.17 F. Un Allocated 21,739.77 25.263.00 22,369.72 2 l 739.77 22 369.72 Total Llabili tie$ 54 709 .48 53 137.16 45 390 .95 54 709.48 45 390 .95 # Segment Reve nue include s Other Operating Income *Other Segment includes City Gas Distribution (CGD), Explor ation and Production (E&P), Compressed Bio Gas (CBG) & Power Generation It In Crnrcl For the Financial Year Ended 31st March 2026 Audited 11.205.94 916.18 1,24,244.41 7,574.42 4,293.33 2,210.76 0.5 4 I 50 445.S8 11,749.06 1 3869 6.52 6,229.11 455.54 3,077.58 (1,408.22) 489.32 517.91 9361 .24 544.51 (942.08) 8 963.67 65,231.95 963.11 19,794.85 2,115.47 4,226.80 30 234.35 I 22 566.53 20,940.24 153.25 1,667.46 221.15 787.87 24.722.29 48 4-92. 26
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GAIL (India) Limited New Delhi Standalone Statement of Asset and Liabilities as at 30th September 2026 ASSETS Non-Current Assets a) Property, Plant and Equipment b) Capital work-in-progress c) Intangible Assets d) Right of Use Assets e) Financial Assets -Investments -Loans & Other Receivables -Other Financial Assets f) Non-Current Tax Assets (Net) g) Other Non-Current Assets Total Non Current assets Current Assets a) Inventories b) Financial Assets -Investments -Trade Receivables -Cash and Cash Equivalents Particulars -Bank Balances other than Cash and Cash Equivalents -Loans & Other Receivables -Other Financial Assets c) Other Current Assets Total Current Assets Total Assets EQUITY AND LIABILITIES EQUITY a) Equity Share Capital b) Other Equity Total Equity LIABILITIES Non-Current Liabilities a) Financial Liabilities -Borrowings -Lease Liabilities -Other Financial Liabilities b) Provisions c) Contract Liabilities d) Deferred Tax Liabilities (Net) e) Other Non-Current Liabilities Total Non-Current Liabilities Current Liabilities a) Financial Liabilities -Borrowings -Lease Liabilities -Trade Payables Dues of Micro and Small Enterprises Dues of Other than Micro and Small Enterprises -Other Financial Liabilities b) Other Current Liabilities c) Contract Liabilites d) Provisions e) Current Tax Liabilities (net) Total Current Liabilities Total Equity and Liabilities Asat 30th September 2026 Unaudited 52,848 .53 16,138 .05 3,445 .17 8,807 .25 19,190.87 6,769.46 560.37 365.99 864 .45 1,08,990.14 7,248.46 595.59 14,146 .23 348.31 124.97 403 .68 1,649 .59 2,479.51 26,996.34 1,35,986.48 6,575.10 74,701.90 81,277.00 11,227.54 7,362 .01 274 .79 114.71 665.53 6,033 .65 4,279.37 29,957.60 2,165.33 912 .34 388 .98 9,314 .98 6,232 .20 1,818.35 1,809.32 985 .87 1,124.51 24,751.88 1,35,986.48 (tin Crore) Asat 31st March 2026 Audited 51,677.13 15,895 .08 3,435.58 5,154 .11 20,304 .28 6,942.38 310.38 410.93 601.62 1,04,731.49 4,910 .31 8,277.11 732.22 153.95 109.61 1,212.61 2,439 .23 17,835.04 1,22,566 .53 6,575 .10 67,499 .17 74,074.27 12,265 .62 3,545.93 258.56 9.40 713.06 5,901.32 4,313.26 27,007.15 5,148.67 885 .75 193.43 6,129.95 6,555.81 970.37 685.78 915.35 21,485.11 1,22,5 66.53
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GAIL (India) Limited New Delhi Standalone Statement of Cash Flows For the Half Year Ended 30th September 2026 For the Half Year Ended Particulars 30th September 30th Seote mber 2026 2025 Unaudited Unaudited A 1 Cash Flows from Ooerati nl! Activities 1 Profit Before Tax 11 ,611-H 5,356.60 2 Adjustme nts for: Denreciation and amortisation exnenses 1,762.61 1,812.97 Finance Cost 624.58 439.13 Dividend Income on Inves tment (442.6 7 (47 1.05 Interest Income [3 71.391 [421.29 I [Profit) / Loss on Sale of Investment [11 .361 (1.32 MTM (gain )/loss on Mutual fund Investment ro_5 91 Excess Provision Written Back (290,971 rB8.27 Unrealised Forchm Exchanve fvainl/loss 139.03 169.08 Provision for Emolovees Benefits 105.31 (869.73 Provisio n fo r Probable Obligations 73.34 37.13 Provision for Doubtful Debts 35.55 (28.9 9' Other Provisions ro.12 0.09 Amortization of Government Grant (56.60 [75.62 Amortizatio n of Financia l Guarantee Obli2ation [ 7.89 (4.38) Exoected Credit Loss on Financial Guarantee 24.89 If Profit)/ Loss on Sale of Asset.s (Net) 33.47 14.30 Provision for Impairme nt Loss/ CWIP (46.26 4.36 MTM Loss/( Gainl on Commoditv Derivatives fNetl 1.99 5.00 Drv Well Exnenses writte n off 0.12 ProvisionHRcvers all for lmnairment fNetl 325.35 Subtotal f21 1,873 .50 546.30 3 Ooera tine Profit Before Workin2 Caoital Chan2es (1+21 13,484.94 5,902.90 4 Changes in Working Capital (Excluding Cash and Cash Equivalents) Trade and Other Receiva bles -(6,051.11 532.16 Inventories -(2,338.15 601.71 Trade and Other Pavable 5,158.85 (973.07 Chanl!es in Workinl! Caoital (Excludine Cash and Cash Eouivalents l (3,230.41 160 .80 5 Cash Genera ted from Ooera ti ons [3+41 10,254.53 6,063.70 6 Direct Taxes Paid fl.1 54.71 (1,075.59 Net Cash now from Onera t ini, Activities rs +61 9,099 .82 4,988.11 Bl Cash Flow from lnvestini, Activities Purchase of Property, Plant and Equipment/ CWIP / Intangible Assets/ Right of Use (2,738.84 ) (3,353.74) Assets Sale of Prooertv . Plant and Eouinme nt 0.68 7.08 Receiot of Government Grants /Canital Grant) Investment in Mutual Funds {4,683.00 ) fl ,31 1.00) Sale of Mutual Fund 4,099. 36 1,312.32 Investment in Other Comoanies (44 1.611 n.461.2 1 \ Sale of Investme nts 74.06 Loans Recieved / [Given l (661.001 fl,202.781 Interest Received 183.44 217.39 Dividend Received on Investme nts 283.64 294.51 Net Cash Flow from Investin i, Activities 13,883.27 1 [5,503.43 1 Cl Cash Flow from Fina ncine Activities Reoav ment of Borrowings 14,021.421 (976. 541 Borrowings durin 2 the neriod 2,356.00 Lease Liabilities Paid 1557.191 (447.50 Interest on Lease Liabilities Paid (270.681 (160.3 9 [l in Crorel Financial Year Ended 31st March 2026 Audited 8,963.67 3,212.87 942.08 [1,233.37) (838.261 (2.50 (534.78 460.39 [904 .56 126.61 657.11 5.85 [ 113.07 [9.03 13.91 38.26 25.07 42.16 2,188.74 11,152.41 617.92 1,092.36 fl ,296.86 413.42 11,565 .83 [1,686 .37 9,8 79.46 (7,184.64) 8.64 0.41 (2,386.00 2,388.50 fl.593.73) [647.28) 449.51 1,218 .33 (7,746.26 1 [2,305.461 6,143.00 [908.591 [313,3 11
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Dividend Paid (328.74) (630.73) (3,944.51 ) Finance Cost Paid (422.431 (378.321 (961.231 Net Cash Flow from Financin" Activities (5,600.461 (237.48) (2,290.10) Net Increase in Cash and Cash Eauivalents (A+B+C) (383.91) (752.80) (156.90) Cash and Cash equivalent at the ooening of the oeriod 732.22 889.12 889.12 Cash and Cash equivalent at the closing of the period 348.31 136.32 732.22 Note: 1. Reconciliation between the opening and closing balances in the balance sheet for liabilities arising from financing activities: For the Financial Year Ended 30th Seotember 2026 Particulars Borrowings Lease Liabilities Ooening Balance as at 1st Aoril 2026 17,414.29 4,431.68 Cash Flows during the vear (4,021.42) (557.191 Non-cash chane:es due to: Acquisitions under Right of Use Assets 4,259.63 Variation in exchange rates 157.22 Other adiustments (16.981 Closing Balance as on 30th Sentember 2026 13,392.87 8,274.35 For the Financial Year Ended 30th Seotember 2025 Particulars Borrowings Lease Liabilities Ooenim,: Balance as at 1st Aoril 2025 13,576.75 4,866.68 Cash Flows during the vear 1,379.46 (447.50) Non-cash chane:es due to: Acauisitions under Right of Use Assets 5.67 Variation in exchange rates 169.08 Other adiustments (47.20) Closing Balance as on 30th September 2025 14,956.20 4,546.72 For the Financial Year Ended 31st March 2026 Particulars Borrowings Lease Liabilities Ooenine: Balance as at 1st Anril 2025 13,576.76 4,866.68 Cash Flows during the year 3,837 .53 (908.59) Non-cash chane:es due to: Acquisitions under Right of Use Assets 143.24 Variation in exchange rates 403.41 Other adiustments (73.06) Closing Balance as on 31st March 2026 17,414.29 4,431.68 2. Statement of Cash Flows has been prepared using Indirect Method as per Ind AS 7 Statement of Cash Flows 3. Previous Year figures have been regrouped/reclassfied, wherever necessary to correspond with the current year's presentation/ disclosure
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Notes to Standalone Financial Results The above l 'naudited Standalone Financial Results are reviwed and recommended by the Audit Committee and approved by the Board of Directors at their respective meeting held on 30'h October 2026. 2 The Standalone Financial Results have been reviewed by the Statutory Auditors as required under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 15, as amended. The Company has filed appeals before Appellate Tribunal for Electricity (APTELJ against two provisional tariff orders issued by Petroleum and Natural Gas Regulatory Board (PNGRB) in respect of Petroleum and Petroleum Product Pipelines. Adjustment, if any, will be recognized as and when the matter is finally decided. 4 CESTAT, Delhi vide order dated 30'" November 2018 had confirmed the demand of differential Central Excise duty off 2,889 crore including penalty and interest (up to 30'h September 2026 is f 3,831 crore) in the matter pertaining to classification of 'Naphtha' manufactured by the Company. Considering the merits of the case, the Company has filed an appeal before the Hon'bl e Supreme Court. The appeal filed by Company has been admitted and stay has been granted by the Hon'ble Court on compliance of the conditions of depositing a sum off 20 crore and furnishing security to the extent off I 32 crore. Based on the favourable legal opinions obtained on the matter, the Company is confident of favourable outcome. 5 From March 2026 LNG supplies from Middle East have been disrupted due to the geopolitical situation in West Asia. Due to Force Majeure declared by Petrone! LNG Limited (PLL) on 3'd March 2026, RLNG allocation to the Company under the contract was reduced to zero with effect from 4<h March 2026 and is continuing. However. based on LNG supplies from its upstream supplier, - 190 MMSCM RLNG has been supplied by PLL during the half year ended 30'h September 2026. The Company has also taken various mitigation measures, including procurement of LNG/Natural Gas from the spot market and alternative sources, to manage and minimise the impact 6 Other Disclosures as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 For the Quarter Ended For the Half Year Ended For the FY .,_ .. _, SI.No Particulars 30th 30th June 30th 30th 30th 31st March September 2026 September September 2026 September 2026 2026 2025 2025 a Debt Equitv Ratio (in times) 0.29 0.32 0,23 0.29 0.23 0.28 b Debt Service Coverage Ratio (in times) 5.38 4.88 3.24 5.13 3.08 2-17 C Interest Scn icc Covcracc Ratio {in times) 17.97 17.70 12.28 17.83 11.95 l0. 14 d Outstanding Redeemable Preference Shares(~ in crore) NIL NIL NIL NIL NIL Kil e Capital Redemption Reserve (fi n crore) 126.74 126.74 126.7-1 126.7-1 126.7-1 126.74 f Net worth (fin crorc) 74,979. 12 70,657.66 66,686.97 74,979.12 66,686.97 66,365.33 " Net Profit After Tax (fin crorc) 4,650.22 4 292.33 2.217.2-1 8,942.55 -1, 103 56 6.968.30 h Eamin~s Per Share (in f J 7.07 6.53 3.37 13.60 6.24 l0.60 i Current Ratio (in times) 1.09 1.02 0.88 1.09 0.88 0.83 j Long Term Debt to Working Capital (in times) 4.91 8.82 (27.79) 4.91 (27.79) (11.28) k Bad debts to Account receivable ratio (in times) - I Current liability Ratio (in times) 0.45 0.41 0.50 0.45 0.50 0.44 m Total Debts to Total Assets (in times) 0.16 0.19 0.16 0,16 0.16 0. 18 n Debtors Turnover ratio - Annualised (in times) 14.10 15.44 14.21 15.11 14.02 14.96 0 !men tor> Turnover Ratio - Annualised (in times) 27.29 28.02 26.69 27.87 24.41 25.32 D Ooerating Mar:,?in (in ° o) 12.03°. 1-1. l7"o 6.-17". 13.0lno 6.76Do 5.1s0 • q Net Profit Marj!in (in • o) 10. 14% I 1.0-1°0 6.34% 10.55°0 5.89"o 5,04°Q Asset cover available : r Not applicable as the bonds are unsecured s The extent and nature of security: Not appl icable as the bonds arc unsecured
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7 Formulae for computation of above ratios are as follows Ratios Formulae a Debt Equity Rario [Lon2 Term Debt+ Current maturities of Lon2 Term Debt+ Lease Liabilitiesl {Total Equity excluding revaluation reserves} b Debt Service Coverage Ratio {Profit after tax + Finance Cost+ Depreciation} {Finance Cost + Principal Repayment of Long Term Debt + Lease Liabilities Paid} C Interest Service Coverage Ratio {Profit before tax+ Finance Cost+ Depreciation} Finance Cost f Net worth Equity Share Capital+Other Equity (Excluding Other Comprehensive Income & Bond Redemption Reserve) i Current Ratio (in times) Current Assets Current Liabilities j Long Tenn Debt to WorJ..ing Cnpital {Lon2 Term Debt + Current maturities of Lon2 Term Debtl {Working Capital excluding current maturities of long term borrowings} k Bad debts to Account receivable ratio Bad debts Trade Receivables l Current Liability Ratio Current Liabilities Total Liabilities m Total Debts to Total Assets (Lone Term Bnrrowini;::s: + Short Term Borrowini,:;sl !Total Assets} n Debtors Turnover Ratio Net Sales Avera ~e Trade Receivables 0 Lnventory T umovrr Ratio Net Sales Avera ge Inventory p Operating Margin EBIT-Other Income Net Sales q Net Profit L\.largin Profit After Tax Net Sales 8 Previous period figures have been regrouped/ reclassified, wherever necessary to confirm to the figures of the current period. Place: New Delhi Date: 30 th October 2026 Director (Finance) and CFO (DIN: I 0528036)
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ARUN K. AGARWAL & ASSOCIATES CHARTERED ACCOUNTANTS 105, FF, South Ex. Plaza -1, 389, Masjid Moth, South Extn. Part-II, New Delhi-110049 RAVI RAJAN & CO LLP CHARTERED ACCOUNTANTS 505C, Rectangle 1, District Centre, Saket, New Delhi-110017 Independent Auditors' Limited Review Report on the Unaudited Consolidated Financial Results of GAIL (India) Limited for the quarter and half year ended September 30. 2026. pursuant to the Regulation 33 and Regulation 52 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations. 2015. as amended. Review Report to The Board of Directors GAIL (India) Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of GAIL {India) Limited ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and its share of the net profit/(loss) after tax and total comprehensive income/(loss) of its associates and joint ventures forth e quarter and half year ended September 30, 2026 ("the Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time ("the Listing Regulations"), including relevant circulars issued by SEBI from time to time. 2. This Statement, which is the responsibility of the Holding Company's Management, has been reviewed by the Holding Company's Audit Committee and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India and also considering the requirement of Standard on Auditing SA 600 on "Using the work of Another Auditor". This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities as given in the Annexure to this report. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing • Regulations, including the manner in which it is to be disclosed, or that it contains any material ~ ~:a::::::, .... ~~~Al &..q& ~ • iS'a -le:- C' ~ - '"'" ::, ~ o::: ~ ~ :.J m .:!.. FRN : Qj 917N Cl) * New De,hi * <;Is.. • v ,l; r1e~ A~
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6. Emphasis of Matter We draw attention to: (i) Note No. 3 to the accompanying Statement regarding two provisional tariff orders issued by Petroleum and Natural Gas Regulatory Board (PNGRB) in respect of Petroleum and Petroleum Product Pipelines, which are contested by the Holding Company at Appellate Tribunal for Electricity (APTEL). Adjustment, if any, will be recognized as and when matter is finally decided. (ii) Note No. 4 to the accompanying Statement regarding CESTAT order confirming the demand for the differential amount by the Central Excise Department in the matter pertaining to classification of 'Naphtha' manufactured by the Holding Company amounting to , 2889 crores (with interest up to September 30, 2026 , 3831 crores) including applicable penalty and interest thereon. Considering the merits of the case, the Holding Company has filed an appeal before the Hon'ble Supreme Court. Based on the legal opinion obtained, the Holding Company does not foresee any probable outflow in the matter and accordingly has treated the same as contingent liability. Our conclusion on the Statement is not modified in respect of the above matters. 7. Other Matters (i) We did not review the interim financial results/information of 6 (six) subsidiaries included in the Statement, whose interim financial results/information reflect total revenue of, 12,846.49 crores and , 21,970.06 crores, total net profit/(loss) after tax of, 233.97 crores and , 307.41 crores and total comprehensive income/(loss) of, 240.60 crores and, 321.42 crores for the quarter and half year ended September 30, 2026 respectively, total assets of, 22,810.24 crores as at September 30, 2026 and net cash inflow of, 429.14 crores for the half year ended September 30, 2026 as considered in the unaudited consolidated financial results. These interim financial results/information have been reviewed by other auditors and their reports have been furnished to us by the management of the Holding Company. Our conclusion of the Statement, in so far as it relates to the amounts and the disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and procedures performed by us as stated in paragraph 3 above. The Statement also includes interim financial results/information of 2 (Two) subsidiaries, which have not been reviewed by their auditors, whose interim financial results/information reflect total revenue of , 1,947.50 crores and , 3,866.79 crores, total net profit/(loss) after tax of, (-)5.37 crores and , (-)10.21 crores and total comprehensive income/(loss) of , (-)5.37 crores and , (-)10.21 crores for the quarter and half year ended September 30, 2026 respectively, total assets of, 2,376.00 crores as at September 30, 2026 and net cash inflow of, 69.70 crores for the half year ended September 30, 2026 as considered in the unaudited consolidated financial results. These interim financial results/information are certified by the management of respective subsidiaries. (ii) The Statement also includes the Group's share of net profit/(loss) after tax of, 31.64 crores and, 80.26 crores and total comprehensive income/(loss) of, 31.65 crores and, 80.27 crores for the quarter and half year ended September 30, 2026 respectively, as considered in the unaudited consolidated financial results, in respect of 1 (one) joint venture and 3 (three) associates, whose interim financial results/information have not been reviewed by us. These interim financial results/information have been reviewed by other auditors and their reports have been furnished to us by the management of the Holding Company. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these joint ventures and associates is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. (iii) The Statement also includes the Group's share of net profit/(loss) after tax of, 229.79 crores and , 516.68 crores and total comprehensive income/(loss) of, 259.13 crores and , 577.23 crores for the quarter and half year ended September 30, 2026 respectively, as considered in the unaudited consolidated financial results, in respect of 8 (eight) joint ventures and 10 (ten) associates, whose interim financial results/information have not been reviewed by their auditors. These interim financial results/information are certified by their management. Interim financial results/information in respect of these joint ventures and associates are provided by the Management based on the estimates. According to the information and explanations given to us by the Management, these interi IV~'-~'---::;:. results/information are not material to the Group.
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Out of these unreviewed joint ventures and associates, in relation to 1 (one) joint venture and 4 (four) associates, the Statement reflects Group's share of net profit/(loss) after tax~ 1.85 crores and~ 22.97 crores and total comprehensive income/(loss) of~ 31.47 crores and~ 83.01 crores for the quarter and half year ended September 30, 2026 respectively, the aforesaid amounts have been included based on their unreviewed interim financial results/information as on June 30, 2026. Management is of the view that this will not have a material impact on the Group's unaudited consolidated financial results as on September 30, 2026. (iv) The Statement includes interim financial results/information of exploration & production operations, whose results reflect total revenue of~ 324.48 crores and ~ 628.34 crores, total net profit before tax of ~ 152.47 crores and ~ 319.24 crores and total comprehensive income of ~ 152.47 crores and~ 319.24 crores for the quarter and half year ended September 30, 2026 respectively, total assets of~ 1776.64 crores and total liabilities of~ 313.23 crores as at September 30, 2026, which have not been reviewed by their auditors. Such interim financial results/information are based on the statement from the Operators. Management is of the view that this will not have a material impact on the Group's Financial Results. Our conclusion on the Statement is not modified in respect of the above matters with respect to our reliance on the reports of other auditors and the financial results/ financial information certified by the management. The status of limited reviewed financial results/information mentioned above is based on information furnished to us till October 27, 2026 (cut-off date). For ARUN K. AGARWAL & ASSOCIATES Chartered Accountants Firm's Registration No.: 003917N UDIN: 26413012HCMVGV8972 Place: New Delhi Date: October 30, 2026 For RAVI RAJAN & CO LLP Chartered Accountants Firm's Registration No.: 009073N/N500320 ~~ Sachin Kumar Jindal Partner M. No.: 531700 UDIN: 26531700DBNCU7322
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Annexure to Limited Review Report on Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2026, of GAIL (India) Limited, pursuant to the Regulation 33 & Regulation 52 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended. Sr. Name of Companies Country of Incorporation No. A. Subsidiaries 1. GAIL Global (Singapore) Pte. Ltd. Singapore 2. GAIL Global (USA) Inc. USA 3. GAIL GAS Limited India 4. Tripura Natural Gas Company Limited India 5. Bengal Gas Company Limited India 6. Konkan LNG Limited India 7. GAIL Mangalore Petrochemicals Limited India 8. GAIL Global IFSC Limited India B. Joint Ventures 1. Central UP Gas Limited India 2. Green Gas Limited India 3. Maharashtra Natural Gas Limited India 4. Aavantika Gas Limited India 5. Bhagyanagar Gas Limited India 6. Talcher Fertilizers Limited India 7. lndradhanush Gas Grid Limited India 8. Vadodara Gas Limited India 9. TAPI Pipeline Company Limited Isle of Man C. Associates 1. lndraprastha Gas Limited India 2. Petronet LNG Limited India 3. Mahanagar Gas Limited India 4. ONGC Petro Additions Limited India 5. Ramagundam Fertilizers and Chemicals Limited India 6. Brahmaputra Cracker and Polymer Limited India 7. Fayum Gas Company Egypt 8. China Gas Holdings Ltd. Bermuda 9. ONGC Tripura Power Company Limited India 10. Bharat Energy Office Limited Liability Company Russia 11. LNG Japonica Shipping Corporation Limited Cyprus 12. Coal Gas India Limited India 13. Leafiniti Bioenergy Private Limited India
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Sr. No. 1 2 3 4 5 6 7 8 GAIL (India) Limited New Delhi Statement of Consolidated Unaudited Financial Result for the Quarter and Half Year ended 30th September 2026 fl in crore excenl EPSJ For the Quarter ended For the Half Year Ended For the Financial Year Ended Particulars 30th September 30th September 30th September 30th September 2026 30th June 2026 202S 2026 202S 31st March 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Income Revenue from Operations 47,301.03 41,350.18 35,657.23 88,651.21 71,086.05 1,42,094.30 Other Income 172.86 132.47 236.54 305.33 380.67 1,510.!4 Total Income 47 473.89 41482.6S 35 893 .77 88,956.54 71466.72 143 604.44 Expenses Cost of Materials Consumed 2,921.03 1,405.84 2,151.91 4,326.87 3,905.89 8,043.79 Purchase of Stock in trade 34,787.87 31,408.06 26,861.19 66,195.92 53,381.80 1,07,986.55 Changes in Inventories of Finished Goods, Stock in Trade and (764.13) (1,356.24 ) (52.86) (2,120.37) 698.16 1,365.45 Work in Progress Employee Benefit Expenses 562.33 553.35 625.15 1,115.68 1,159.13 2,078.88 Finance Costs 323.11 318.96 233.72 642.07 446.64 964.18 Depreciation and Amortization Expense 1,012.70 986.53 1,176.86 1,999.22 2,169.58 3,835.09 Excise Duty 161.90 152.57 120.11 314.48 238.24 496.58 Other Expenses 2,640.48 2,088.74 2,491.42 4.729.22 4,5 73.77 10,6 12.91 Total Expenses 41645.29 35,5 57.81 33,607.50 77,203,09 66,573.21 1 35 383.43 Profi t/ (Loss) before share ofprofit/(loss) of associates and 5,828.60 5,924.84 2,286.27 11,753.45 4,893.51 Joint Ventures and tax (1-2) 8,221.01 Share of Profit/ (Loss) of associates and Joint Ventures for the 271.68 342 .72 279 ,12 614.40 700 .73 1,5 04.21 Profit/(loss) before tax (3+4) 6,100 .28 6,267.56 2 565 .39 12 367.85 5 594.24 9,725.22 Tax Expense: (i) Current tax -Current Year 1,074.95 1,320.82 604.27 2,395.77 1,256.83 1,598.88 -Adjustment of tax relating to earlier periods (0.24 ) 12.72 (315.18) 12.48 (315.18) (322.95) (ii) Deferred tax 301.8 2 263.03 28 7.59 564.86 281.63 867.77 Total Tax Expenses fi+ii) 1,376.53 1,596.57 57 6.68 2,973 .11 1,223 .28 2,143 .70 Net Profit/ (Loss) for the period (5-6) 4,723 .75 4,670 .99 1 988.71 9,394. 74 4 370 .96 7,581.52 Other Comprehensive Income (OCI) a) Items to be reclassified to Profit or Loss in subsequent periods: (i) Exchange differences on translation of foreign operations (648.22 ) 417.81 (4.43) (230.41) (15.30) 297.38 Income tax effect thereon (648 .221 417 .81 [4,431 [230.411 [15.3 01 297.38 (ii) Net movement in cash !low hedge gain /(loss) (535.07) 721.65 (63.99) 186.57 (270.46) (877.16 ) Income tax effect thereon 137 .13 (184.1 4) 16.10 [47.0 11 68.07 221.12 _ _Q? 7.94) 537.51 [47.891 139 .56 1202.39 1 (~ 6.04J Net other comprehensive income to be reclassified to Profit (1,046.16 ) 955.32 (52.32) (90.85) (217.69 ) (358, 66) or Loss in subsequent periods (i+ii) b) Items not to be reclassified to Profit or Loss in subsequent periods: (i) Re-measurement l(ain /(loss) on defined benefit plans (0,01 ) 0.01 0.01 135.36 Income tax effect thereon 0.01 0.01 (34.06) (0.00 0.01 0.02 101.30 (ii) Net gain/floss) on FVTOCI equity Securities (276 .42) ( 1.532 .41) (13 8.44) (1,808.82) (202.34) 1,22 7.72 Income tax effect thereon 39,98 219.08 21.08 259.06 30.33 1173.761 (2 36.4 41 [1,313.33 1 [117 ,361 (1, 549.76 1 1172.0ll 1,053.96 (iii)Share of Other Comprehensive income in Associates/JVs for 29.35 31.22 0.26 60.57 (96.22 ) (63.33) the period Income tax effect thereon 29.3_!;_ _ 31.22 0.26 ---- 60.57 ~ _1'.) 6.22} - ~~)
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Net Other Comprehensive Income not to be reclassified to Profit or Loss in subsequent periods(i+ii+iii): (207,09) (1,282.10) (117.10) (1,489.17) (268.23) 1,091.93 Other Comprehensive Income for the period, net of tax (a+b) (1,253.25} (326.78) (169.42) (1,580.02) (485.92) 733,27 9 Total Comprehensive Income for the period (Profit and Loss 3,470.50 4,344.21 1,819.29 7,814.72 3,885.04 8,314.79 and OCI] , Net of Tax (7 +8) Profit for the period 4,723.75 4,670.99 1,988.71 9,394.74 4,370.96 7,581.52 Attributable to: Equity holders of the parent 4,719.66 4,665.36 1,972.40 9,385.02 4,341.61 7,582.47 Non-controlling interests 4.09 5.63 16.31 9.72 29,35 (0.95 ) Other comprehensive income for the period (1,253.25) (326.78) (169.42 ) (1,580.02) (485.92) 733.27 Attributable to: Equity holders of the parent (1,253.25) (326.78 ) (169.42 ) (1,580.02) (485,92) 733.19 Non-controlling interests 0.08 Total Comprehensive Income for the period 3,470.50 4,344.21 1,819.29 7,814.72 3,885.04 8,314.79 Attributable to: Equity holders of the parent 3,466.41 4,338.58 1,802.98 7,805.00 3,855.69 8,315.66 Non-controlling interests 4.09 5.63 16.31 9.72 29.35 f0.ll7) 10 Paid-up Equity Share Capital [face value of { 10 each) 6,57 5.10 6,575 .10 6,575.10 6,575 .10 6,575 .10 6,575.HI 11 Reserves excluding Revaluation Reserve as per Balance Sheet 70,278.45 12 Earnings per share (in ~l (Face value of UO each) al Basic, attributable to equity holders of the parent 7.18 7.10 3.00 14.27 6.60 11.53 bl Diluted, attributable to equity holders of the parent 7.18 7.10 3.00 14.27 6.60 11.53 I rEPS for the Ouarter not annualised) There 1s no d1scontmued operat10n durmg the penod
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GAIL (India) Limited New Delhi Consolidated Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Half Year Ended 30th September 2026 For the Quarter ended For the Half Year Ended Sr. No. Particulars 30th September 30th September 30th September 30th September ?n?" 30th June 2026 ?n?C 2026 ?n?C Unaudited Unaudited Unaudited Unaudited Unaudited 1 Segment Revenue# A. Transmission Services I) Natural Gas 3,310.71 3,042.09 2,735.39 6,352.80 5,540.77 II) LPG 234.55 226.49 231.73 461.04 458.19 B. Natural Gas Marketing 53,841.12 43,558.67 36,143.73 97,399.78 70,932.41 C. Petrochemicals 2,519.54 646.08 2,001.56 3,165.62 3,682.74 D. LPG And Liquid Hydrocarbons 1,834.05 2,039.21 1,150.20 3,873.26 2,255.60 E. City Gas 2,534.09 2,256.11 1,804.87 4,790.20 3,524.29 F. Other Segment* 353.82 323.05 314.29 676.86 620.26 G. Unallocated 0.62 0.05 0.27 0.67 0.32 Total 64 628.50 52 091 .75 44 382 .04 1 16 720.23 87 014.SB Less : Inter- Segment Revenue 17,327.47 10,741.57 8,724.81 28,069.02 15,928.53 -Sale5 / Income from Onerations 47 301.03 41 350 .18 35 657 .23 88 651.21 71 086 .05 2 Segment Results (Profit/(Loss) before Interest and Tax) A. Transmission Services I) Natural Gas 1,926.45 1,782.65 1,413.87 3,709.10 2,971.42 11) LPG 132.39 122.87 128.77 255.26 249.04 B. Natural Gas Marketing 3,523.57 3,607.72 1,111.91 7,131.29 2,156.59 C. Petrochemicals (30.50) (137.21 ) (344.58) (167.72) (634.10) D. LPG And Liquid Hydrocarbons 442.13 772.50 111.79 1,214.63 316.80 E. City Gas 293.50 225.62 164.89 519.12 342.37 F Other Segment * 167.-13 184.60 139.64 352.03 313.65 Total Profit before Interest and Tax 6,454.97 6 558.75 2,726.29 13,0 13.71 5,71 5.77 Add/ (Less) :(i) Other Un-allocable expenditure net of Unallocable Income (31.58) 27.77 72.82 (3.79) 325.11 (ii) Finance Cost (323.11) (318.96) (233.72) (642.07) (446.64) Total Profit before Tax 61()0.28 6 267 .56 2 565.3'1 12,367.85 5 594.24 3 Segment Assets - A. Natural Gas Transmission/ Marketing 81,503.82 78,611.68 71,011.56 81,503.82 71,011.56 B. LPG Transmission 991.38 969.32 988.59 991.38 988.59 C. Petrochemicals 28,075.78 26,764.59 24,250.10 28,075.78 24,250.10 D. LPG And Liquid Hydrocarbons 2,417.16 2,708.06 1,757.21 2,417.16 1,757.21 E. City Gas 9,931.71 9,477.92 8,435.86 9,931.71 8,435.86 F. Other Segment* 2,666.59 2,462.90 1,915.51 2,666.59 1,915.51 G. Un Allocated 29,252.41 28,456.43 28,112.97 29,252.41 28,112.97 Total Assets 15483B.85 149 450.90 136 471.80 154838 .85 136 471.80 4 Segment Liabilities A. Natural Gas Transmission/ Marketing 29,143.93 24,149.92 20,235.03 29,143.93 20,235.03 B. LPG Transmission 150.47 152.03 139.67 150.47 139.67 c. Petrochemicals 1,233.92 1,070.78 1,111.98 1,233.92 1,111.98 D. LPG And Liquid Hydrocarbons 254.04 300.01 167.55 254.04 167.55 E. City Gas 2,513.87 2,308.00 1,317.25 2,513.87 1,317.25 F. Other Segment* 397.61 403.75 296.28 397.61 296.28 G. Un Allocated 24,141.62 27,703.33 24,790.31 24,141.62 24,790.31 Total Liabilities 57 835 ,46 56 087 .82 48 058. 07 57 83 5.46 48 058.0 7 # Segment Revenue includes Other Operating Income *Other Segment includes Exploration and Production (E&P), Compressed Bio Gas (CBG), Power Generation & Financial services rt in crore l For the Financial Year Ended 31st March 2026 Audiled 11,205.94 916.18 1,44,712.58 7,574.42 4,293.33 7,401.37 1,238.21 0.54 1 77 342.57 35,248.27 1 42 094.30 6,229.11 455.54 3,175.16 (1,410.27) 489.32 698.68 453.49 10 091 .03 598.37 (964.18 ) 9725.22 70,559.50 963.11 25,894.45 2,115.47 9,077.35 2,042.95 29,883.76 140 536 .59 20,461.96 153.25 1,348.17 221.15 1,409.22 421.84 27,229.34 51 244. 93
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GAIL (India) Limited New Delhi Consolidated Statement of Assets and Liabilities as at 30th September 2026 Particulars ASSETS Non Current Assets a) Property, Plant and Equipment and lntangbile Assets i) Property, Plant and Equipment ii) Capital work-in-progress iii) Intangible Assets iv) Right of Use Assets b) Financial Assets i) Investments accounted as per Equity Method ii) Other Investments iii) Loans iv) Others Financial Assets c) Non Current Tax Assets (Net) d) Other Non Current Assets Total Non Current Assets Current Assets a) Inventories b) Financial Assets i) Investments ii) Trade Receivables iii) Cash and Cash Equivalents iv) Bank Balances other than cash and cash equivalents v) Loans vi) Others Financial Assets c) Current Tax Assets (Net) d) Other Current Assets Assets held for Sale Total Current Assets Total Assets EQUITY AND LIABILITIES EQUITY a) Equity Share Capital b) Other Equity c) Non - Controlling Interests Total Equity LIABILITIES Non Current Liabilities a) Financial Liabilities i) Borrowings ii) Lease liabilities iii) Other Financial Liabilities b) Provisions c) Contract Liabilities d) Deferred Tax Liabilities (net) e) Other Non Current Liabilities Total Non Current Liabilities Current Liabilities a) Financial Liabilities i) Borrowings ii) Lease Liabilities iii) Trade Payables Dues of Micro and Small Enterprises Dues of Other than Micro and Small Enterprises iv) Other Financial Liabilities b) Other Current Liabilities c) Contract Liabilities d) Provisions e) Current Tax Liabilities (Net) Total Current Liabilities nd Liabili ties t in crore As at 30th Sep tember As at 31st March 2026 2026 Unaudited Audited 60,617 .32 59,424.26 25,069.03 24,072.20 3,475.38 3,465.44 9,410.44 5,777.43 17,429.75 16,873.05 7,559.10 9,360.17 464.66 341.11 629 .58 347.77 367.23 422.20 952 .12 691.25 1,25,974.61 1,20,774.88 7,488.19 5,154.93 595.59 14,305.90 8,605.11 1,074.18 959.23 1,020.72 1,167.43 79.01 74.96 1,585 .71 1,182.25 11.19 7.98 2,648.66 2,609.82 28,809.15 19,761.71 55.09 28,864-24 19, 761.71 154 838.85 140 536.59 6,575 .10 6,575.10 90,157.67 82,474.50 270.62 242.06 97,003.39 89,291.66 12,698.33 13,628 .47 7,706 .28 3,902.64 279.05 261.07 120.58 19.21 679.73 725.67 5,465.40 5,112.61 4,279.93 4,313.85 31,229.30 27,963 .52 2,797.29 6,335.74 989 .84 964.64 444 .80 270.67 9,207 .21 5,833 .51 7,219 .77 7,156 .89 1,998 .74 1,096.55 1,814.83 697.10 993.99 923.47 1,139.69 2.84 26,606.16 23,2 81.41 1 54 838.85 140 536. 59
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GAIL (India) Limited New Delhi Consolidated Statement of Cash Flows For the Half Year ended 30th September 2026 For the Half Year Ended Particulars 30th September 2026 30th September 2025 Unaudited Unaudited A) CASH FLOW FROM OPERATING ACTIVITIE S 1 Profit Before Tax 12,367.85 5,594.24 2 Adjustments for : Depreciation and amortisation expenses 1,999.22 2,169.58 Finance Cost 642.07 446.64 Dividend Income on Investment (47.07) (60.95) Interest Income (140.03 ) (138.07) (Profit) / Loss on Sale oflnvestment (11.36 ) (1.32) MTM (gain)/loss on Mutual fund Investment (0.59) Excess Provision Written Back (24.85) (90.07) Unrealised Foreign Exchange (gain)/loss 139.06 169.08 Provision for Employees Benefits 105.28 (869.62) Provision for Probable Obligations 73.49 37.42 Provision for Doubtful Debts 37.88 (28.99) Other Provisions (6.92) 0.70 Amortization of Government Grant (57.2 1) (76.10) Amortization of Financial Guarantee Obligation (0.31) (0.18) (Profit) / Loss on Sale of Assets (Net) 43.67 17.57 Provision for Impairment Loss/ CWIP (46.26) 4.33 Loss/(Gainl on Commoditv Derivative (Netl (15.67) 5.00 Dry Well Expenses written off 0.12 - Share of Profit/Loss of joint ventures (614.40) (700.73) Subtotal 121 2,076.12 884.29 3 Oueratinl! Profit Before Wor kine cauital Chanees 11+2 1 14,443.97 6,478.53 4 Changes in Working Capital (Excluding Cash and Cash Equivalents) Trade and Other Receivables (6,029.30) 575.68 Inventories (2,333.26) 510.51 Trade and Other Payable 5,740.75 (552.59) Chan.,es in Workin e Canital fExcludin" Cash and Cash Eouivalentsl f2,6 2 1.81l 533.60 5 Cash Generated from One,·ations f3+4 l 11,822 .16 7,012.13 6 Direct Taxes Paid f l. 21 ':1.661 (1,142.911 Net Cash flow from Oneratin" Activities f5+6l 10,6 02.50 5,869.22 B) CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets/ CWIP (3,689.66) (4,038.01) Sale of Propertv, Plant and Equipment 0.68 7.08 Receipt of Government Grants (Capital Grant) 0.57 0.50 Investment in Mutual Funds (4,683.00) (1,311.00) Sale of Mutual Fund 4,099.36 1,312.32 Investment in Other Companies/ Equity Method Appreciation 24.68 (1,161.92) Loans Received/ (Given) (119.95) (988.06) Interest Received 129.26 121.55 Dividend Received on Investments 124.06 144.80 Net cash flow from lnvestin" Activities 14,114.00 l 15,912.74 1 Cl CASH FLOW FROM FINANCING ACTIVITIES Repayment of Borrowings (4,581.72) (1,185.22) Borrowings during the period 113.13 2,356,00 Changes in Non Controlling Interest Lease Liabilities Paid (584.06) (484.80 ) Interest on Lease Liabilities Paid (286.55) (175.89 ) r~ in cro rel For the Financial Year r _ _. _ __. 31st March 2026 fAuditedl 9,725.22 3,835.09 964.18 (494.16) (261.05) (2.50) - (595.67) 470.49 (904.06) 426.90 660.22 6.81 (114.06 ) (0.43) 55.37 70.50 42.16 - (1,504.21) 2,655.58 12,380.80 673.21 1,089.20 (1,117.06) 645.35 13.026 .15 (1 ,777.501 11,248.65 (8,806.29) 8.64 1.45 (2,386.00) 2,388.50 (1,097.77) 2.48 256.80 478.31 (9,153.8 8) (2,486.16) 6,143.00 0.87 (1,017.58) (345.33)
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Dividend Paid (322.42 ) (780.73) (3,944.51) Finance Cost Paid (481.52) (466.02' (1,100.39' Net Cash Flow from Financin!l Activities (6,143.14) (736.66) (2,750.101 Net Increase in Cash and Cash Equivalents (A+B+Cl 345.36 (780.17) (655.331 Cash and Cash equivalent at the opening of the period 959.23 1,317.18 1,317.18 Effects of Exchange Rate Variances (230.41 ) (15.30) 297.38 Cash and Cash eauivalent at the closiM of the oeriod 1,074.18 521.71 959 .23 1. Reconciliation between the opening and closing balances in the balance sheet for liabilities arising from financing activities : For the Half Year Ended 30th September 2026 Particulars Borrowin2s Lease Liabilities Ooening Balance as at 1st April 2025 19,964.21 4,867.28 Cash Flows during the vear (4,468.59) (584.06) Non-cash changes due to: Acquisitions under Right of Use Assets 4,272.69 Variation in exchange rates 157.22 Other adiustments (17.00) Closing Balance as on 30th September 2026 15,495.62 8,696.12 For the Half Year Ended 30th Seutember 2025 Particulars Borrowings Lease Liabilities Opening Balance as at 1st Aoril 2025 16,307.37 5,288.01 Cash Flows during the year 1,170.78 (484.80) Non-cash chan2es due to: Acquisitions under Right of Use Assets 29.27 Retirement under Right of Use Assets Variation in exchange rates 169.09 Transaction costs on Borrowings Other adjustments (45.80) Closinl! Balance as on 30th September 2025 17,478.15 4,955.77 For the Financial Year Ended 31st March 2026 Particulars Borrowing s Lease Liabilities Opening Balance as at 1st April 2025 16,307.37 5,288.01 Cash Flows during the year 3,656.84 (1,017.58) Non-cash chan2es due to: Acquisitions under Right of Use Assets 266.42 Retirement under Right of Use Assets Variation in exchange rates 403.57 Transaction costs on Borrowings Other adjustments (73.14) Closinl! Balance as on 31 March, 2026 19,964.21 4,867.28 2. Statement of Cash Flows has been prepared using Indirect Method as per Ind AS 7 Statement of Cash Flows 3. Previous period figures have been regrouped whereever necessary to correspond with current period classification/disclosure
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Notes to Consolidated Financial Results The above Unaudited Consolidated Financial Results are reviwed and recommended by the Audit Committee and approved by the Board of Directors at their respective meeting held on 30th October 2026. 2 The Consolidated Financial Results have been reviewed by the Statutory Auditors as required under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 3 The Parent Company has filed appeals before Appellate Tribunal for Electricity (APTEL) against two provisional tariff orders issued by Petroleum and Natural Gas Regulatory Board (PNGRB) in respect of Petroleum and Petroleum Product Pipelines. Adjustment, if any, will be recognized as and when the matter is finally decided. 4 CESTAT, Delhi vide order dated 30th November 2018 has confirmed the demand of differential Central Excise duty of { 2,889 crore including penalty and interest (up to 30th September 2026 is { 3,831 crore) in the matter pertaining to classification of 'Naphtha' manufactured by the Parent Company. Considering the merits of the case, the Parent Company has filed an appeal before the Hon 'ble Supreme Court. The appeal filed by Parent Company has been admitted and stay has been granted by the Hon'ble Court on compliance of the conditions of depositing a sum of { 20 crore and furnishing security to the extent of { 132 crore. Based on the favorable legal opinions obtained on the matter, the Parent Company is confident of favorable outcome. 5 From March 2026 LNG supplies from Middle East have been disrupted due to the geopolitical situation in West Asia. Due to Force Majeure declared by Petrone! LNG Limited (PLL) on 3rd March 2026, RLNG allocation to the Parent Company under the contract was reduced to zero with effect from 4th March 2026 and is continuing. However, based on LNG supplies from its upstream supplier, - 190 MMSCM RLNG has been supplied by PLL to Parent Compnay during the half year ended 30th September 2026. The Parent Company has also taken various mitigation measures, including procurement of LNG/Natural Gas from the spot market and alternative sources, to manage and minimise the impact. 6 Previous period figures have been regrouped/ reclassified, wherever necessary to confirm to the figures of the current period. Place: New Delhi Date: 30th October 2026 For GAlu ia) Limited ([t Director (Finance) and CFO (DIN: 10528036)
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i)-~~~tll (fa~e.s 1.lRcl~<l>l~-~lj;q";fi GAIL (India) Limited (A Government of India Undertaking-A Maharatna Company) 16, 4lq,j~..fl q,71!Jlfflf, -1{~110066-, ~ GAILBHAWAN 16 BHIKAIJI CAMA PLACE NEW DELHl-110066, INDIA 'Q;Ff/Phone : +91-11-26182955 W<Rl'/FAX: +91-11-2618594 f:q-a-/E-Maii: lnfo@gaii.co.in STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE, RIGHTS ISSUE, PREFERENTIAL ISSUE, QUALIFIED INSTITUTIONS PLACEMENT ETC. Statement on deviation/ variation in utilization of funds raised Name of listed entity GAIL (India) Limited Mode of Fund Raising Others (Private Placement) Date of Raising Funds 20/12/2022 Amount Raised Rs. 1575.00 crore (outstanding as on September 30, 2026) Report filed for Quarter ended September 30, 2026 Monitoring Agency Not applicable Monitoring Agency Name, if applicable .Not applicable Is there a Deviation I Variation in use of funds raised No If yes, whether the same is pursuant to change Not Applicable in terms of a contract or objects, which was aooroved by the shareholders If Y~s, Date of shareholder Approval Not Applicable Explanation for the Deviation I Variation Not Applicable Comments of the Audit Committee after review Not Applicable Comments of the auditors, if any Not Applicable
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i@)~~t.11 (Rlflle-s . ilffi[<Rq;Rqi[~-lWRF[$Qafi GAIL (India) Limited (A Government of India Undertaking-A Maharatna Company) Objects for which funds have been raised and where there has been a deviation, in the following table Original Object Modified Original Modified Funds Amount of Object, if any Allocation allocation, Utilised DeviationNariation if any for the quarter according to applicable Refinancing of existing borrowings and / object or funding of capital expenditure of the Issuer, including recoupment of expenditure already Not Applicable NA incurred and / or for any other purpose INR 1575.00 NA INR 1575.00 in the ordinary course of business of the crore crore Issuer. Deviation or vadation could mean: (a) Deviation in the objects or purposes for which the funds have been raised or (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc. ~ - Name of Signatory : Sanjay Sinha Designation: Chief General Manager(F&A) 16, .flq,l~ull <6111T~. ~~110066-, ~ GAILBHAWAN 16 BHIKAIJI CAMA PLACE NEW DELHl-110066, INDIA l!ir-riPhone : +91-11.·26182955 i\umiFAX: +91-.11-2618594 f-1@/E-Mail: lnfo@gail.co.in Remarks if any Funds have been utilized for the purpose for which it was raised and therefore there is no deviation or variation in the use offunds.
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l@)~Rill I (RI ft! ~,S 'lffil<l«PR<Pf ;,qw.f - ~$q;j) GAIL (India) Limited (A Government of India Undertaking-A Maharatna Company) 16, ~ <ITTlTT ta'!!, '!{~110066-, ~ GAILBHAWAN 16 BHIKAIJI CAMA PLACE NEW DELHl-110066, INDIA tp')-;,/Phone : +91-11-26182955 ~/FAX: +91-11-2618594 {-mf/E-Mail: lnfo@gail.co.in FORMAT FOR DISCLOSING OUTSTANDING DEFAULT ON LOANS AND DEBT SECURITIES s. Particulars in INR crore No. 1. Loans I revolving facilities like cash credit from banks/ financial institutions A Total amount outstanding as on date 13,393 crores (as on 30th Seotember 2026) B Of the total amount outstanding, amount of default as on date NIL 2. Unlisted debt securities i.e. NCDs and NCRPS A Total amount outstanding as on date NIL B Of the total amount outstanding, amount of default as on date Not Applicable 3. Total financial indebtedness of the listed entity including short- 13,393 Crores term (as on 30th and long-term debt September 2026) Name of Signatory: Sanjay Sinha Designation : Chief General Manager (F&A)
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"lIB )~~l.ll 1Ri~2-s ('l-fmf m<liR qi) i:f[fjpll - "lfITT«'l $q;fi) GAIL (India) Limited (A Government of India Undertaking-A Maharatna Company) 'ijcf 'l-f1f'f 16, ~l!iTlll'<'t<i, "'J{ ~110066-, ~ GAILBHAWAN 16 BHIKAIJI CAMA PLACE NEW DELHl-110066, INDIA -.:ii'R/Phone : +91-11-26182955 i'l;-cm/FAX: +91-11-2618594 {-ira/E-Mail: lnfo@gail.co.in Annexure-1 Details of Security Cover with respect to listed non-convertible debt securities for the quarter ended September 2026 Column A Column& ColumnC ColumnD ColumnE ColumnF ColumnG ColumnH Column I ColumnJ ColumnK ColumnL I ColumnM ColumnN I ColumnO Assets e not Elimlnation Related to only those Items covered by this certificate ~ Exclusive Exclusive Pari•Passu Pari•Passu Pari•Passu (Total ·E Charge Charge Charge Charge Charge offered (amount Cto H) • as In negative) ~ Description Security of asset for Debt for Other Debt for Assets Other debt Market Carrying Market Carrying Total which this which Secured Which shared by assets on amount Value for /book value Value for value/book Value(::K+ certificate th5 Debt th5 pari passu which considered Assets for exclusive Pari passu value for pari L-tM+N) relate certificate certificate debt holder there ls more charged charge charge passu charge being being (includes pari• than once on assets where Assets assets where issued issued debt for Passu (due to Exclusive market market value which this charge exclusive basis value ls not is not certificate is (excluding plus pari ascertainable ascertainable issued & items passu or applicable or applicable other debt covered charge) (For Eg. Bank (For Eg. Bank with pari-passu in column Balance, SRA Balance, DSRA charge) F) market value market value is is nOt not'appl!cable) applicable) Relating to Column F Book Book Yes/No Book Book Value Value Value Value Not Applicable For GAIL (India) Limited ~ Authorised Signatory "