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GAIL India announces Rs 54,000 cr capex

Tuesday, 28 May 2019
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GAIL India registered its highest-ever net profit, record dividend payout and largest-ever capital expenditure (capex) of Rs 54,000 crore.

The company’s net profit grew 10 percent in Q4/FY19 to Rs 1,122 crore and by 30 percent to record Rs 6,026 crore in FY19.

The company also saw highest-ever capex spending of Rs 8,344 crore in a single year. It is investing another Rs 54,000 crore over the next two to three years in laying of gas pipeline network that will feed households and industries such as fertiliser plants.

The company owns and operates 14,000 km pipeline network in the country. It is laying 6,000 km new lines at a cost of Rs 32,000 crore to take gas to unconnected areas in the east and south.

Apart from this, it is investing another Rs 12,000 crore in city gas distribution networks to retail CNG to automobiles and piped natural gas to households in towns like Varanasi (Uttar Pradesh) and Patna (Bihar).

Another Rs 10,000 crore investment will go into expansion of petrochemical manufacturing capacity. The company is also helping revive closed down fertiliser plants that will build self-sufficiency in producing crop nutrients.

The company transported 107 mscmpd gas in FY19 as compared to 105 mmscmd in FY18.

The company will borrow Rs 5,000 crore in FY20 to fund its close to Rs 7,000 capital expenditure.

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