Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><div><div><div><ul><li>GAIL 4QFY22 standalone revenue at Rs269.62bn was above NBIE estimate by 23.7%, but gross contribution was only a tad below our estimate - COGS at Rs212.88bn was higher than our estimate by 32.3%. Revenue beat of 5.6% vs consensus.</li></ul><div><div><div><div><ul><li>GAIL 4QFY22 Standalone EBITDA at Rs37.15bn missed our estimate by 10.9% due to employee cost/other expenses coming in 23.8%/29% above our estimates. EBITDA was a 6.4% miss vs street estimate.</li></ul><div><div><div><div><ul><li>PAT of Rs26.83bn was a miss of 13.9% vs our estimate due to other income coming in 25.5% lower than our estimate at Rs4.2bn. PAT was a 10.1% miss vs street estimate.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

GAIL 4QFY22 standalone revenue at Rs269.62bn was above NBIE estimate by 23.7%, but gross contribution was only a tad below our estimate - COGS at Rs212.88bn was higher than our estimate by 32.3%. Revenue beat of 5.6% vs consensus.GAIL 4QFY22 Standalone EBITDA at Rs37.15bn missed our estimate by 10.9% due to employee cost/other expenses coming in 23.8%/29% above our estimates. EBITDA was a 6.4% miss vs street estimate.PAT of Rs26.83bn was a miss of 13.9% vs our estimate due to other income coming in 25.5% lower than our estimate at Rs4.2bn. PAT was a 10.1% miss vs street estimate.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GAIL - Growth in Gas Volume the Key Catalyst

Gail India

GAIL - Growth in Gas Volume the Key Catalyst