GAIL’s Profit after Tax up by 295% for Q1 of FY 2017-18 on quarter-on-quarter basis PBT Rs. 1,569 crore, up by 81 %; Gross Margin Rs. 2,015 crore, up by 63%
New Delhi, August 10, 2017: GAIL (India) Limited registered 295% increase in Profit after Tax (PAT) in the first quarter of Financial Year 2017-18 vis-à-vis previous quarter Q4 FY17.
GAIL’s Profit before Tax (PBT) for the quarter increased by 81% to Rs. 1,569 crores vis-à-vis Rs. 866 crore in the previous quarter Q4 FY17.
GAIL’s PAT of Rs. 1,026 crore in Q1 FY18 has seen growth of 21% on year-on-year basis (after excluding one-time gains from stake sale in Mahanagar Gas Limited in Q1 FY17 of Rs. 489 crore). This growth has been led by better performance of Gas Transmission & LHC segment, better price realisation in LHC segment & decrease in cost of production and Finance cost.
During the quarter, the Company registered growth in physical performance in LHC Sales, Natural Gas Transmission & LPG Transmission by 16%, 4% & 26% respectively as compared to corresponding period of the previous year.
GAIL commences 100% construction work in Kerala stretch of KKMBPL Project
New Delhi, August 2, 2017: GAIL started its foray into the state of Kerala with Kochi – Koottanad – Mangaluru-Bengaluru Pipeline with a total project cost of Rs 3,263 crores. Despite the initial hurdle, the Kerala stretch of the project will gain impetus with commencement of 100 % construction work. This pipeline will form part of the National Gas Grid and it will go a long way in fulfilling the vision of the Government of India towards building a gas based economy.
The construction activities are under full swing and the momentum will gather new speed with GAIL awarding Contracts for Pipeline Laying works of the remaining section of 111 km stretch falling in Malappuram, Kannur and Kasargod districts at a cost of approximately Rs 160 crore. As a part of Phase-II of the project, the pipeline section from Kochi-Koottanad (in Kerala) to Mangaluru (in Karnataka) section of 438 km is being executed. With today’s award of contracts, the entire stretch of 438 Km Kochi – Koottanad – Mangaluru Pipeline will be in the Construction Phase.
Speaking on the development of the pipeline project, Shri B C Tripathi, Chairman and Managing Director, GAIL said “Looking into the substantial progress in the Laying works already awarded with the help of State Government in providing statutory clearances and permissions and Right of way, GAIL is commencing laying activities in the remaining 111 kms stretch of the pipeline. The project activities in 100% of the pipe length will gather full momentum after the monsoon. With the continued support of the State Government and the people at large, GAIL is confident of completing the entire Kochi – Koottanad – Mangaluru Pipeline by December 2018.”
The Kochi – Koottanad – Mangaluru Pipeline will give a major economic boost to the state of Kerala by way of supplying environmental friendly industrial development. In Phase-I of the project, around 41 Km Pipeline had already been commissioned during 2013 to transport natural gas from Kochi LNG Terminal. Currently around 2.6 MMSCMD of gas is being supplied to various consumers in and around Kochi city.
GAIL CMD launches Start-up initiative ‘Pankh’
Web Portal to submit proposals to remain open till August 16, 2017
New Delhi, July 25, 2017: With the objective of nurturing the spirit of entrepreneurship among Indians as envisioned by Hon’ble Prime Minister Shri Narendra Modi, GAIL (India) Limited Chairman and Managing Director Shri B C Tripathi today launched a Start-up initiative titled ‘Pankh’ to identify and promote innovative ventures. Shri Subir Purkayastha, Director (Finance), Shri P K Gupta, Director (Human Resources), Shri Gajendra Singh, Director (Marketing) along with senior officials of GAIL were present on the occasion.
To promote the initiative, GAIL has created a corpus of Rs 50 crores for investing in Start-ups and would also provide mentoring to them in core areas of the company, i.e., natural gas and its derivatives. Speaking on the occasion, Shri Tripathi said this would help Start-ups to realize their full potential at the earliest. He stressed upon the need to look at the initiative of Start-ups in the context of the economy cycle which is otherwise reversing and the need of the hour is innovation.
Shri Tripathi also launched a Start-up Web Portal through which potential candidates can submit their proposals to GAIL. The Portal can be accessed through the GAIL website www.gailonline.com and will remain open till August 16, 2017.
Addressing the GAIL officials, Shri Tripathi said the creation of the corpus fund under ‘Pankh’ was only a small beginning to promote innovative ideas and this could be reviewed and improved upon depending upon the response of entrepreneurs and the concepts received under the initiative.
As a responsible corporate citizen, GAIL would also invest in a few non-core areas like Health, Social and Environment sector, Shri Tripathi said. This would be an exciting opportunity for diversification for GAIL and also support in the creation of a Start-up nation, he said.
GAIL conferred with the “Economic Times 2 Good CSR Rating”
Only PSU to be feted in 'All Round Excellence' category
(From left to right) Ms Vandana Chanana, GAIL Executive Director (Corporate Communication & CSR) and Mr P K Gupta, Director (Human Resources) receiving the ‘Economic Times 2 Good CSR Rating’ certification from Mr Jaco Cilliers, Country Director, United Nations Development Program and Ms Nishi Vasudeva, Ex-CMD, Hindustan Petroleum Corporation Limited.
New Delhi, July 21, 2017: GAIL (India) Limited has been conferred with the prestigious ‘Economic Times 2 Good CSR Rating’ in the ‘All-Round Excellence’ category, the only Public Sector Undertaking to earn the recognition. The certificate was received by Shri P K Gupta, GAIL Director (Human Resources) and Ms Vandana Chanana, Executive Director (Corporate Communication & Corporate Social Responsibility) on behalf of the company at a function here.
The recognition for GAIL, given as part of the ‘ET 2 Good 4 Good’ CSR Rating scheme, was conferred after extensive study of the company’s CSR initiatives by a jury comprising eminent personalities including Professor Avanish Kumar, Professor and Area chairperson-MDI Gurgaon, Professor N. Craig Smith, INSEAD Chair in Ethics and Social Responsibility, Shri Vineet Nayar, Founder & Sampark Foundation and Ex-CEO, HCL, Ms Naina Lal Kidwai, Ex-Country Head, HSBC India and Ms Nishi Vasudeva, Ex-CMD, HPCL.
GAIL’s CSR activities are carried out under the umbrella of GAIL Hriday and projects taken up covering various thrust areas which include Arogya (Wellness) - Nutrition, Health and Sanitation and Drinking Water projects , Ujjwal (Towards a Bright future) – Education initiatives, Kaushal (Skill) - Livelihood Generation and Skill development initiatives, Unnati (Progress)- Rural Development, Sashakt (Empowerment)- Women Empowerment initiatives, Saksham (Capable) - Care of the elderly and differently abled, and Harit (Green) - Environment centric initiatives.
Bengaluru takes a giant leap towards clean energy as City Gas Distribution project takes off
Project being implemented by GAIL Gas Ltd. at an investment of Rs 6,283 crore
Project to benefit 106.12 lakh residents
24x7 PNG supply to 1.32 lakh households in 5 years
One CNG station commissioned, 59 more to come up in 5 years
Bengaluru, 18 June, 2017: Marking a new chapter in the development of India’s IT capital, the Bengaluru City Gas Distribution (CGD) Project to supply eco-friendly Natural Gas to households, industries and transport sector was inaugurated today by Hon’ble Minister for Parliamentary Affairs and Chemicals & Fertilizers, Govt. of India Shri Ananth Kumar. Present on the occasion were Hon’ble Minister for Statistics & Programme Implementation, Govt. of India Shri D V Sadananda Gowda and Hon’ble Minister of State (Independent Charge) for Petroleum & Natural Gas, Govt. of India Shri Dharmendra Pradhan. The event was also graced by Hon’ble Member of Parliament, Bengaluru (Central) Shri P C Mohan, Hon’ble Member of Parliament, Rajya Sabha Shri D Kupendra Reddy and Hon’ble Member of Legislative Assembly, Bommanahalli Shri M Satish Reddy and a host of other dignitaries.
The Bengaluru CGD Project is being implemented by GAIL Gas Limited, a wholly owned subsidiary of Maharatna company GAIL (India) Limited, at an investment of Rs 6,283 crore. The project will cover 4,395 sq km in urban and rural Bengaluru, broadly covering eight sectors - Nelamangala, Dod Ballapur, Devanahalli, Hosakote, Bengaluru East, Bengaluru North, Bengaluru South and Anekal.
The project will provide economical, environment friendly, uninterrupted, safe and convenient energy to 106.12 lakh residents of Bengaluru by supplying Piped Natural Gas (PNG) for households, industries and commercial units. This will significantly add to people’s convenience as there will be no hassles of booking, advance payment, storage, handling of heavy weight cylinders and monitoring of cylinder delivery. Billing will be done once in two months based on consumption.
Moreover, with the setting up of 60 Compressed Natural Gas (CNG) stations, the project will provide cheaper fuel for the transport sector and also facilitate a healthy lifestyle by creating a pollution-free environment.
The inaugural ceremony was marked by a live streaming from a house where a PNG powered burner was lit, followed by another live streaming from a CNG Station of GAIL Gas at Leggere, Prem Nagar, Bengaluru. During the event, GAIL Gas Limited also launched a mobile app that will provide a one-stop solution and a user-friendly platform to customers to view and pay their PNG Bills, locate CNG stations, know about the benefits of CNG, PNG, and get emergency instructions. Project Status as on date
• 66 Kms of Steel and 452 Kms of MDPE pipeline already laid in Bengaluru
• Domestic PNG connections: Infrastructure laid for approximately 34,500 households out of which 23,300 houses are ready for conversion and approximately 3,000 houses are already using PNG
• CNG station in Laggare commissioned, 3 CNG stations at BMTC bus depots at Sumanahalli, Hennur and Peenya ready for commissioning
• 9 industries connected with Piped Natural Gas including Intel, BOSCH, BHEL, Apotex Pharmachemicals, ADCOCK Ingram Ltd., GARUDA POLYFLEX GTR Aluminium, Exclusive Overseas and Toyota Industries Engine India Ltd.
• 22 Commercial Units connected with PNG About GAIL
GAIL (India) Limited is India's No. 1 Integrated Natural Gas company with a market share of over 75% in natural gas transmission. Apart from being a leader in India, GAIL is also ranked as No. 1 amongst Gas utility companies in Asia. With over 11,000 Kms of Natural gas network, GAIL supplies India's fuel requirements across sectors like Power, Fertilizer, Industrial, Automotive and even Household consumers through its subsidiaries. Apart from natural gas transmission, distribution and processing, the Company has diversified business interests in Petrochemicals, LPG transmission, City gas projects and Exploration and Production activities. The company is committed to expand its current network to 15,000 km within 5 years. About GAIL Gas
GAIL Gas Limited was incorporated in the year 2008 for implementation of downstream Natural Gas distribution projects across the country. It has been authorized by Petroleum and Natural Gas Regulatory Board (PNGRB) for implementing City Gas Distribution projects in Dewas (Madhya Pradesh), Kota (Rajasthan), Sonepat (Haryana), Meerut (Uttar Pradesh), Taj Trapezium Zone (Uttar Pradesh) and now Bengaluru (Karnataka).
GAIL’s PAT up 57 % in FY 2016-17 year-on-year, touches Rs 3,503 cr
PBT up by 77 % to Rs. 5,411 cr, Gross Margin up by 41 % to Rs 7,287 cr Dividend up by 120%, EPS up by 57%
New Delhi, May 22, 2017: GAIL (India) Limited registered a 57% rise in Profit after Tax for the Financial Year 2016-17 with the PAT increasing to Rs 3,503 crore from Rs 2,226 crore in the last fiscal. The rise in profit was boosted largely by a turnaround in the Company’s Petrochemical business, increase in profits from Gas Transmission business and partial sale of stake in Mahanagar Gas Limited (MGL), despite lower price realisation in Polymer and Liquid hydrocarbons. These results are after considering impairment of Investment in Ratnagairi Gas and Power Pvt. Ltd. (RGPPL) in 4th quarter of FY 2016-17 for Rs.783 crore.
GAIL’s PAT excluding non-operating one offs (i.e. gain from stake sale in MGL and impairment of Investments in RGPPL) is Rs 3,797 crore, an increase of 71% year-on-year (yoy).
The Board has proposed a final total dividend of Rs. 2.70 per share (subject to approval of shareholders) making the total dividend for the year Rs. 1,535 crore, up by 120% as compared to FY 2015-16. The earning per share is also up by 57% to Rs. 20.71 per share on increased paid-up equity. During FY 16-17, GAIL also issued Bonus share in ratio of one bonus share for every three equity shares held.
The Company registered growth in physical performance in FY 2016-17 in all segments on year-on-year basis. Sale of Petrochemicals was up by 73%, Natural Gas Marketing & Transmission volumes rose by 10% & 9% respectively, LPG Transmission volume was up by 19% while Liquid Hydrocarbon Sales went up by 2%.
On quarterly basis, GAIL’s PAT in 4th quarter of FY 2016-17 decreased by 69% to Rs. 260 crore from Rs. 832 crore in the corresponding period of the last fiscal due to accounting of impairment of Investments in RGPPL for Rs. 783 crore. The quarterly profit without the impact of the above impairment is Rs. 1,043 crore, which is higher by 25% on yoy basis.
During the quarter, the Company registered growth in physical performance in all segments as compared to corresponding period of the previous year with Petrochemicals Sales up by 59%, Natural Gas Marketing & Transmission volumes up by 11% & 6% respectively, LPG Transmission volumes increasing by 22% and Liquid Hydrocarbon Sales rising by 6%.
GAIL’s PAT in the fourth quarter of FY 2016-17 rose by 6% vis-à-vis the third quarter (excluding impairment of Investments in RGPPL) of current financial year, from Rs. 983 crore to Rs. 1,043 crore.
During the year 2016-17, as per consolidated financial statements, the total group sales (Gross) stood at Rs. 49,237 crore and the Group PAT was Rs. 3,374 crore. CGD group companies (IGL, MGL, GAIL GAS) and PLL have continued to add to the group profit.
However, ONGC Petro Additions Ltd and Brahmaputra Cracker and Polymer Ltd., being in their first year of operation and under stabilisation did not positively contribute to the Group bottom line. Taking together the impact, EPS as per consolidated statement was Rs. 19.91 per share as against Rs. 11.05 per share in the previous year.
GAIL awards Pipeline Laying Work Contracts for another 131 Km in Kerala 75 % of Kochi – Koottanad – Mangaluru Pipeline now in Construction Phase
New Delhi, May 1, 2017: Carrying forward the momentum for Natural Gas pipeline works in Kerala, GAIL (India) Limited has awarded Contracts for Pipeline Laying works of the Kochi – Koottanad – Mangaluru Pipeline for another 131 Km section from Areacode (Malappuram) to Kurumathoor (Kannur) at a cost of approx. Rs 200 Crore. The balance 111 Km stretch in Malappuram, Kannur and Kasargod districts will be awarded by July 2017.
Construction works from both the ends of the Kochi – Koottanad – Mangaluru Pipeline i.e., in the 91 Km Kochi – Koottanad Section as well as in the 105 Km Perole (Kasargod) – Mangaluru Section are already in full swing. With today’s award of contracts, over 75% of the Kochi – Koottanad – Mangaluru Pipeline will be in the Construction Phase.
GAIL has been able to make substantial progress in acquisition of Right of User due to the continued support of the State Government, Administration, Police and the public at large. The Kochi – Koottanad – Mangaluru Pipeline is likely to give a major economic boost to the state of Kerala by way of environmentally benign industrial development.
GAIL is targeting to complete the entire Kochi – Koottanad – Mangaluru Pipeline by December 2018.
BTA Signing Ceremony b/w RSGL & GAIL Gas Ltd.
In a significant step towards setting up of retail gas infrastructure in Rajasthan and opening CNG corridors connecting key cities, the Business Transfer Agreement (BTA) was signed by Mr. Ravi Agarwal, Managing Director, RSGL & Mr. P K Pal, CEO GAIL Gas between Rajasthan State Gas Limited & GAIL Gas Ltd.
The Business Transfer Agreement (BTA) is a momentous occasion which will pave the way for transforming Kota to a smart city by providing clean energy to boost up industrialization and setting up CNG corridor between Kota & Jaipur and Kota – Baran – Jhalawar besides providing green energy to the industrial clusters at Baran – Jhalawar adjoining areas of Kota.
RSGL is also carrying out necessary activities to provide clean energy solution for the proposed smart cities Kota, Ajmer, Udaipur and Jaipur.
Principal Secretary Mines and petroleum Ms. Aparna Arora who is also Chairperson of Rajasthan Sate Gas Limited has asked MD RSGL to draw blue print for making Gas available to state of art industrial clusters and proposed smart cities at Kota ,Jaipur, Ajmer and Udaipur for fueling industlization and in meeting socio economic expiration of the people.
The strategic tie-up between RIICO and RSGL for gas based infrastructure development will create an industrial revolution, making the state a sought after business destination.
Shri Gajendra Singh takes charge as Director (Marketing), GAIL
New Delhi, April 5th, 2017 : Shri Gajendra Singh has taken charge as Director (Marketing) of GAIL (India) Limited today. He started his career in processing and interpreting of seismic data in upstream Industry, and possesses 32 years of illustrious career in hydrocarbon sector. Shri Singh has been involved in the execution of several prestigious projects of GAIL starting from the HVJ and has held various leadership and strategic positions. Some of these key roles where he has served as the Head of Department include General Manager (Gas Sourcing and Gas Marketing), Executive Director (Operations & Maintenance).
Prior to his appointment as Director (Marketing), Shri Gajendra Singh served as Executive Director (Marketing), he has been responsible to fulfil GAIL’s vision to source and market natural gas from international and domestic sources; to facilitate capacity utilization of pipeline infrastructure, investment in new pipelines etc. He has been managing company`s top line and bottom line through various Zonal offices located across India. He joined GAIL in Year 1986, having worked in ONGC in 1985.
CGD project implementation in Bhubaneswar and Cuttack launched by Hon’ble MoS (I/C), MoPNG Shri Dharmendra Pradhan
Natural Gas set to reach Odisha through ‘Pradhan Mantri Urja Ganga’
Longest stretch of ‘Urja Ganga’ being built in Odisha
PNG to be supplied to 5 lakh households, CNG to 1.5 lakh vehicles
‘Urja Ganga’ and CGD project to see investment of over Rs 5,700 crore
Odisha office of GAIL also inaugurated
Bhubaneswar, March 18, 2017: Ushering in a new era of economic development and convenience in Odisha fueled by environment friendly Natural Gas, Hon’ble Minister of State (Independent Charge) for Petroleum & Natural Gas Shri Dharmendra Pradhan today launched the implementation of City Gas Distribution (CGD) project in Bhubaneswar and Cuttack in the presence of Hon’ble Member of Parliament (Bhubaneswar) Dr Prasanna Kumar Patasani, Hon’ble Member of Parliament (Cuttack) Shri Bhartruhari Mahtab and other digniaties.
The event marked an important step towards the fulfilment of Hon’ble Prime Minister Shri Narendra Modi’s dream of developing a gas-based economy and linking Eastern India to the country’s Natural Gas Grid through the Jagdishpur – Haldia & Bokaro – Dhamra Natural Gas Pipeline (JHBDPL). The pipeline, popularly known as ‘Pradhan Mantri Urja Ganga’, will pass through five states, i.e. Uttar Pradesh, Bihar, Jharkhand, Odisha and West Bengal and the longest stretch – 762 kms – will be built in Odisha.
Shri Dharmendra Pradhan also inaugurated the Odisha office of GAIL (India) Limited which is implementing the pipeline as well as the CGD project.
The Bhubaneshwar CGD project will be built with a capital expenditure of around Rs.1,000 crore. It will benefit around 25 lakh people in Khordha district and around 2.5 lakh households will be supplied with environment friendly, safe and economic piped natural gas (PNG). Moreover, 24 CNG stations will be commissioned in the first three to five years to supply compressed natural gas (CNG) fuel to around 1 lakh vehicles.
Similarly, in Cuttack CGD project, the capital expenditure will be around Rs 750 crore. Around 26 lakh people will be benefitted by this project while 2.5 lakh households will get PNG connections. In addition, CNG will be available to 50,000 vehicles through 20 CNG stations which will be set up in next three to five years.
Natural Gas will also be available to industries and commercial establishments, creating a gas based industrial hub. Almost 2,000 km of steel and MDPE pipelines will be laid for these two CGD networks. It is also expected that the arrival of the Pradhan Mantri Urja Ganga will provide direct and indirect employment to thousands of people.
The 2,619 km JHBDPL project is being executed at an investment of Rs 12,940 crores, which includes 40% capital grant (i.e. Rs 5,176 crores) from the Government of India. It will pass through Uttar Pradesh (342 km), Bihar (441 km), Jharkhand (524 km), West Bengal (550 km) and Odisha (762 km). Natural Gas will be supplied to Fertilizer Sector, Power Sector, Refineries, Steel, CGD and other sectors through this pipeline.
With the assured Gas supply, Fertilizer Plants at Gorakhpur (Uttar Pradesh), Barauni (Bihar) and Sindri (Jharkhand) have been approved for revival along the route of this pipeline. Further, this pipeline will also meet the gas requirements of Matix Fertilizer Plant at Durgapur (West Bengal). Continued full production from these four major Fertilizer Plants will ensure timely availability of adequate fertilizers in the eastern states which will go a long way in flourishing of agricultural sector.
GAIL has also been entrusted with developing CGD network in seven cities enroute the pipeline, i.e., Bhubaneswar, Cuttack, Varanasi, Patna, Jamshedpur, Kolkata and Ranchi.
In Odisha, the pipeline will be constructed at an estimated investment of Rs 4,000 crores and have a length of about 762 km covering 13 districts, i.e., Bhadrak, Jajpur, Dhenkanal, Angul, Sundergarh, Sambalpur, Jharsuguda, Debagarh, Jagatsinghpur, Cuttack, Khordha, Puri and Kendrapara.
GAIL (India) Limited is India’s No. 1 Integrated Natural Gas company with a market share of over 75% in Natural Gas transmission. With over 11,000 Kms of Natural gas network, GAIL supplies India’s fuel requirements across sectors like Power, Fertilizer, Industrial, Automotive and even Household consumers. Apart from natural gas transmission, distribution and processing, the Company has diversified business interests in Petrochemicals, LPG transmission, City gas projects and Exploration and Production activities. The company is committed to expand its current network to 18,000 km within 5 years.
Rajasthan State Gas Limited awarded with ‘eIndia Innovation Award’.
Rajasthan State Gas Limited authorized nodal player to setup retail gas infrastructure in Rajasthan is in limelight because of ‘Innovative Strategies for Project development in Energy Sector’ for meeting requirement of natural gas through synchronized approach with Govt. of Rajasthan to fuel Industrialization.
Company Promoted by GAIL Gas & RSPCL and with facilitation from Govt. of Rajasthan & GAIL (India) limited is all set to provide gas to the Ghiloth Ceramic zone which was the major concern for development of the industries besides opening of new CNG corridors between Kota-Jaipur and Kota-Baran-Jhalawar-Dewas-Mumbai after successful commissioning of CNG corridor between Delhi-Jaipur.
The thrust for retail gas infrastructure was emphasized by Govt. of Rajasthan when Shri. Rajiv Mehrishi then Chief Secretary, GoR has called high level meeting with GAIL(India) Limited led by Sh. B C Tripathi, CMD GAIL.
GAIL (India) limited has facilitated RSGL for formulation of dynamic strategies to fulfill Govt. of Rajasthan aspirations for Make in India- Make In Rajasthan through ease of business.
RSGL has adopted a collaborative approach for development of infrastructure through MoU signed with RIICO, augmenting CNG requirement through agreement signed with Indian Oil Corporation Ltd. (IOCL), development of ceramic zone at Ghiloth through agreement with the prospective customers, & development of industrial customers on natural gas in guidance of Shri Ajitabh Sharma, IAS, Commissioner of Industries, GoR and development of gas availability for the smart cities through synergy with the GoR.
The unique approach for bringing function of Rajasthan Pollution Control Board (RPCB) and RSGL & Mines & Petroleum Department together under Chairmanship of Ms. Aparna Arora, IAS has set an action plan on the blue print for industrial clusters development as Pollution Control Board which is supposed to discourage the polluted industries without the responsibility of development of industries is now under the same function to facilitate for bringing various majors for industrial and socio-economic development.
RSGL has been invited by PHD Chamber and India Infrastructure in the recently held Oil & Gas Summits for presenting showcase on the collaborative efforts by Govt. of Rajasthan and GAIL(India) Limited for total energy solution. In line of the agreement signed with IOCL, RSGL is completing 2 no. of CNG facilities at IOC retail outlets along NH-8 to augment additional CNG requirement for industrial clusters enroute and construction activities for setting up compression facilities at identified IOC outlets between Kota to Jaipur to be commenced shortly.
Principal Secretary, Mines & Petroleum, GoR asked Ravi Agarwal MD RSGL for preparation of blue print for development of gas connectivity for the industries at Pali, Bhilwara, and Balotra.
The award was conferred to Mr. Ravi Agarwal, Managing Director, Rajasthan State Gas Limited (RSGL) by Shri P P Choudhary, Hon’ble Union Minister of State, Ministry of Law and Justice and Ministry of Electronics and Information Technology, Government of India, and Shri Yoonus Khan, Hon'ble Minister of Transport, Govt. of Rajasthan at Taj SMS Convention Centre Jaipur on 3rd March’ 2017.
Hon’ble CM, Kerala takes stock of Natural Gas Pipeline work
GAIL CMD apprises him about satisfactory progress on 91 km section Contract for another 105 km section awarded today
Thiruvananthapuram, February 14, 2017: Shri B C Tripathi, CMD, GAIL (India) Limited met Hon’ble Chief Minister of Kerala Shri Pinarayi Vijayan to apprise him about the progress of work on the 440 km Kochi – Koottanad – Mangaluru Natural Gas pipeline project. GAIL Chairman also met Additional Chief Secretary and Director General of Police in separate meetings. He discussed the progress made in the project with the continuous support of the State Government, Administration, Police and the public at large and thanked them for their active engagement which has started yielding result at the ground level.
CMD , GAIL also intimated about the satisfactory laying activities on the 91 km Kochi – Koottanad section and Panchanama activities across the state wherein a substantial headway has been made during the last six to seven months which was possible due to the active support of the State Government.
Carrying forward the momentum, GAIL today awarded contract for pipeline laying work for another 105 km section from Perole-Kodalamuguru- Mangaluru section. As a result project will progress simultaneously from both the ends, i.e., Kochi and the Mangaluru side, so that the completion of the project is expeditiously completed.
Shri Tripathi informed that work on the 91 km Kochi – Koottanad section, which was awarded in September 2016, has been received positively by all stakeholders. He said that the pipeline would serve as a “Green Energy Corridor” for decades to come and enable City Gas Distribution companies and Gas based industries to come up in the state. As a result, environment friendly Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) would be supplied to households and vehicles.
GAIL is targeting to complete the Kochi – Koottanad – Mangaluru Pipeline by December 2018 as per directives of the Ministry of Petroleum & Natural Gas, Government of India. It is likely to give a major economic boost to the state by way of generating employment and various socio economic benefits.
GAIL’s PAT up 133 % in first nine months of current fiscal, touches Rs 3,243 cr PBT for third quarter up 61 %, PAT up 46 % to Rs 983 cr
GAIL (India) Limited registered a 133% increase in Profit after Tax for the first nine months of Financial Year 2016-17 over the corresponding period last year, with the PAT increasing to Rs 3,243 crore from Rs.1,394 crore.
On quarterly basis, GAIL’s PAT in the third quarter increased by 46% to Rs. 983 crore from Rs. 676 crore in the corresponding period of the last fiscal, buoyed by a turnaround in petrochemicals segment and increase in profitability of Liquid Hydrocarbons segment.
The Company also registered growth in physical performance in all segments on quarter on quarter basis i.e. Petrochemical Sales up by 8%, Liquid Hydrocarbon Sales up by 4% and Natural Gas Marketing & Transmission volumes up by 3% & 2% respectively. The third quarter witnessed a pricing pressure in Petchem business during November and December 2016, PAT grew by 6% sequentially to Rs 983 crore.
Shri Prafulla Kumar Gupta takes charge as Director (HR), GAIL
Shri Prafulla Kumar Gupta has taken charge as Director (Human Resources) of GAIL (India) Limited. A B.Tech. in Mechanical Engineering from G.B. Pant University of Agriculture & Technology, Pantnagar (UK), Shri Gupta has more than 33 years of rich and diverse experience in Oil & Gas sector, particularly in Project Execution along with Operation & Maintenance of Natural Gas pipelines, Gas Processing Units, City Gas Distribution, Natural Gas & Petrochemical Marketing and Human Resources.
Prior to his appointment as Director (HR), Shri Gupta served as Executive Director (Marketing-Petrochemicals) and was instrumental in creating an enabling mechanism for petrochemical marketing, streamlining processes and systems to prepare GAIL for the challenges arising out of enhanced polymer capacity of the Company.
Shri Gupta joined GAIL in 1985 and has been associated with many prestigious projects of the company, starting from project execution of Hazira – Vijaipur – Jagdishpur pipeline. He also held the position of Managing Director of Mahanagar Gas Limited and Head of Gas Processing Unit, Vaghodia.
As Executive Director (Training & HRD), Shri Gupta was involved in institutionalizing Learning & Development processes in GAIL. Shri Gupta has a people centric approach and is credited with many HRD Interventions in the Company including Senior Management Development Centre (SMDC), Individual Development Plan, Manpower Benchmarking and setting up of a robust Performance Management System.
GAIL Board approves issuance of bonus shares, interim dividend and raising of funds through Bonds
New Delhi, January 27, 2017: GAIL (India) Limited has recommended issuance of one bonus share for every three equity shares held of Rs 10 each fully paid up, subject to shareholders approval. The decision was taken by the Company's Board of Directors in its meeting held on 25th January, 2017. Consequently, the paid-up share capital of the Company will increase from Rs. 1,268.48 crore to Rs. 1,691.30 crore.
Earlier, GAIL had issued bonus shares of one fully paid-up bonus share for every two equity shares in October 2008.
GAIL's Board also approved payment of interim dividend for the financial year 2016-17 at the rate of 85 per cent of paid-up equity share capital of the Company (Rs 8.5 per share). Interim Dividend will be paid with reference to the 'Record Date' i.e. 3rd February, 2017 fixed for the said purpose.
GAIL's Board in its meeting held on 25th January, 2017 also approved raising of funds through secured/ unsecured, redeemable, non-convertible, taxable INR bonds up to Rs 750 crore with green shoe option up to 100 per cent of issue size aggregating up to Rs 1,500 crore on private placement basis, in one or more tranches.
GAIL Chairman & Managing Director Shri B C Tripathi said that GAIL is issuing bonus shares for the second time after its listing on the stock exchanges. "The decision has been taken in order to enhance shareholders' value and acknowledge their support to the Company over the years," he said.
Shri Tripathi further said that work on the prestigious Jagdishpur – Haldia –Bokaro – Dhamra Pipeline Project, popularly called the Pradhan Mantri Urja Ganga, is going on in full swing and GAIL is committed to complete the project within scheduled time. He said work on the Uttar Pradesh and Bihar sections of the Urja Ganga project has made significant progress and the next phase of the project is likely to commence in the second half of 2017.
The Chairman also stated that the expansion of the Petrochemical plant at Pata has stabilized. The production from subsidiary Brahmaputra Cracker & Polymer Limited's plant in Assam, in which GAIL has 100 % marketing rights, is being ramped up. GAIL is looking to capture new markets for its petrochemical products and has commenced exports to China, Nepal, Bangladesh, Myanmar and Vietnam.
GAIL's subsidiary GAIL Gas is executing its flagship City Gas Distribution project in Bengaluru and supply of piped natural gas to households has already commenced. Further, CNG stations have been set up to cater to the needs of vehicles in the city.
The issue of the INR bonds would help in funding the growing capex requirements for the future growth of the Company, Shri Tripathi said.