GAIL IN EQUITY
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| CUSTOMER | BASIS | EST ₹CR | RANGE | % REV | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel Ltd. | REV SHARE | 13,870 | 13,870–13,870 | 10.0% | COGS | 2026-10 | DISC | 90% |
| “c) Customer contributing more than 10% of Revenue (I in crores) Particulars For the year ended 31 March 2025 For the year ended 31 March 2024 JSW Steel Coated …” AR · +1 DOC | ||||||||
| Financial Year | REV SHARE | 13,729 | 13,729–13,729 | 10.0% | — | FY25 | DISC | 90% |
| “As per Regulation 23(4) of SEBI LODR approval of the Shareholders through ordinary resolution is required, if the transaction(s) to be entered into individuall…” AR · +2 DOC | ||||||||
| Maharashtra | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “He is recipient of many awards including ‘Shahu Phule Ambedkar Award’ 2018 from the Maharashtra Govt., ‘Helen Keller Award 2018’ by NCPEDP Delhi, Loksatta awar…” AR · +1 DOC | ||||||||
| Authority. | UNSTATED | — | — | — | — | 2025-04 | EST | 75% |
| “∞ Awarded Brownfields Grant by Ohio Department of Development- Jefferson County Port Authority for continued assessment and remedial activities of site legacy …” AR · +1 DOC | ||||||||
| China. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “R6 Market Risk Impact Risk on ability to export due to regulation change and country specific restrictions: ∞ Excessive exports by China, Japan & Korea due to …” AR · +2 DOC | ||||||||
| South East Asia | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “Around 15.33 MMSCMD of gas is being produced from these blocks and supplied to China and Myanmar through South East Asia Gas Pipeline Company Limited (SEAGP), …” AR · +1 DOC | ||||||||
| Office | CONTRACT | CT 1 | — | — | — | FY24 | EST | 75% |
| “Your Company’s Jaipur Office was also awarded with the First Prize for FY 2024-25 under the Regional Rajbhasha Puraskar Yojana of Department of Official langua…” AR · +2 DOC | ||||||||
| Parties | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “Annual Report on CSR activities as required under Companies (Corporate Social Responsibility Policy) Rules, 2014 is placed at Annexure-E. Your Company’s CSR Po…” AR · +1 DOC | ||||||||
| Central Electricity Authority | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “This includes supplies under the NVVN Scheme and pursuant to Section 11 of the Electricity Act, 2003, as and when such measures are implemented by the Central …” AR DOC | ||||||||
| Others | UNSTATED | — | — | — | COGS | FY26 | EST | 75% |
| “Natural Gas Marketing: The major customers of our Natural Gas are: • Fertilizer Sector: 36% of the gas sold • City Gas Distribution sector: 27% of the gas sold…” AR · +2 DOC | ||||||||
| PETRONETPetronet LNG Ltd. | UNSTATED | — | — | — | — | FY24 | EST | 75% |
| “During FY 2024–25, your Company imported a record 141 LNG cargoes, the highest ever in its operational history, supplementing volumes sourced under various lon…” AR · +1 DOC | ||||||||
| Uttar Pradesh | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “She has also served as Collector and District Magistrate in multiple districts, head of several departments in Uttar Pradesh, and Joint Secretary in the Minist…” AR DOC | ||||||||
| Karnataka | UNSTATED | — | — | — | — | FY24 | EST | 75% |
| “Key projects served in FY 2024-25 Water pipeline Contributed to ~2,182 km water pipeline constructions Major projects served ∞ Gujarat & Narmada river linking …” AR · +1 DOC | ||||||||
| SIEMENSSiemens Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “VCB supplied with existing switchboard was Siemens 3AF Type which is now obsolete.” AR DOC | ||||||||
| China. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 75% |
| “∞ China, which accounts for nearly half of the worldsteel industry, recorded a 5% decline in consumption in 2024, mainly due to the structural challenges that …” AR DOC | ||||||||
| JSWSTEELJSW Steel Ltd. | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 75% |
| “Other current liabilities (I in crores) Particulars As at 31 March 2025 As at 31 March 2024 Advances from customers 1,478 1,005 Statutory liabilities 3,412 2,9…” AR DOC | ||||||||
| AVANTIFEEDAvanti Feeds Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “In addition to that in the month of July, 2022, Gail India Limited – a Government of India undertaking – a Maharatna Company, who is a natural gas supplier to …” AR p.62 · 31-MAR-26 · +1 DOC | ||||||||
| Australia | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Earlier, as Head of the LNG Sourcing Group at GAIL, Shri Singhal has handled international negotiations with diverse sourcing destinations viz Qatar, Australia…” AR DOC | ||||||||
| Appellate Authority | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “The Company filed an appeal before the Additional Commissioner of State Tax (First Appellate Authority) and the First Appellate Authority has confirmed the ord…” AR · +1 DOC | ||||||||
| NIACLThe New India Assurance Company Ltd. | CONTRACT | CT 0 | — | — | — | FY25 | EST | 70% |
| “For FY 2025-26, the policy was awarded to M/s New India Assurance Co. Ltd. (as lead insurer) for sum insured of `1.69 lakh crore.” AR · +1 DOC | ||||||||
| Securities and Exchange Board of India | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “) d. The Securities and Exchange Board of India (Share Based Employee Benefits) Regulation, 2021 e. Securities and Exchange Board of India (Issue and Listing o…” AR · +2 DOC | ||||||||
| Others | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Unhedged Foreign Currency Exposure: (` in crore) Particulars Currencies 31st March 2025 31st March 2024 Trade Payables / Deposits and Retention Amount USD 7,69…” AR · +1 DOC | ||||||||
| BANKINDIABank of India | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “No order has been passed with respect to Section 73 to 76 of the Act, by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any…” AR · +1 DOC | ||||||||
| ONGCOil & Natural Gas Corporation Ltd. | CONTRACT | CT 10 | — | — | COGS | FY25 | EST | 70% |
| “(` in crore) Particulars 2025-26 2024-25 Income 2.55 - Expenditure (including Depreciation and amortisation) 6.04 3.97 Other Assets 1.38 3.10 Liabilities 40.89…” AR DOC | ||||||||
| Parties | CONTRACT | CT 0 | — | — | SG&A | FY25 | EST | 70% |
| “Loans: To Related Parties -Loan to joint ventures - 3.75 To Employees Considered Good - Secured 74.96 60.71 (Including dues from Directors and Officers ` 0.07 …” AR DOC | ||||||||
| Others | UNSTATED | — | — | — | CAPEX | FY25 | EST | 70% |
| “Other current liabilities (I in crores) Particulars As at 31 March 2025 As at 31 March 2024 Advances from customers 1,478 1,005 Statutory liabilities 3,412 2,9…” AR · +1 DOC | ||||||||
| MGLMahanagar Gas Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Mahanagar Gas Limited a. GAIL (India) Limited (GAIL) raised demand in April 2014 for transportation tariff with respect to ONGC’s Uran Trombay Natural Gas Pipe…” AR · +1 DOC | ||||||||
| ONGCOil & Natural Gas Corporation Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Mahanagar Gas Limited a. GAIL (India) Limited (GAIL) raised demand in April 2014 for transportation tariff with respect to ONGC’s Uran Trombay Natural Gas Pipe…” AR · +1 DOC | ||||||||
| Central Board of Direct Taxes | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “In another key development, your Company signed its second Advance Pricing Agreement (APA) with the Central Board of Direct Taxes (CBDT), covering the transfer…” AR DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | SG&A | FY24 | EST | 70% |
| “Number of consumer complaints in respect of the following: FY 2024-25 (Current Financial Year) FY 2023-24 (Previous Financial Year) Remarks Received during the…” AR DOC | ||||||||
| Others | UNSTATED | — | — | — | SG&A | FY24 | EST | 70% |
| “Number of consumer complaints in respect of the following: FY 2024-25 (Current Financial Year) FY 2023-24 (Previous Financial Year) Remarks Received during the…” AR DOC | ||||||||
| Appointed Date | UNSTATED | — | — | — | COGS | 2026-10 | EST | 70% |
| “National Company Law Tribunal (‘NCLT’), Mumbai Bench has passed an order sanctioning the Scheme of Amalgamation of National Steel and Agro Industries Limited (…” AR DOC | ||||||||
| NMDCNMDC Ltd. | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 70% |
| “The State Government has filed an appeal before the SCI, and based on merits of the case duly supported by a legal opinion and a favorable order from the High …” AR DOC | ||||||||
| HINDCOPPERHindustan Copper Ltd. | UNSTATED | — | — | — | COGS | FY26 | EST | 70% |
| “Release of Copper Vision Document by Hon'ble Union Minister of Coal & Mines, Shri G. Kishan Reddy, on 04.07.2025 at Hyderabad Vendor Meet organized at HCL Corp…” AR DOC | ||||||||
| ATGLAdani Total Gas Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 65% |
| “Potential Impact Our natural gas supply for CNG and domestic sectors is sourced partly from GAIL, based on prevailing domestic gas allocation and pricing guide…” AR DOC | ||||||||
| URBANCOUrban Company Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 65% |
| “Amount paid to GAIL towards transportation charges for Purchase of SPOT RLNG from vendors other than GAIL (H 28.07 Cr).” AR DOC | ||||||||
| NTPCNTPC Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 65% |
| “Mahanagar Gas Limited (MGL), one of the customers of GAIL, filed a complaint with PNGRB on February 12, 2015 regarding applicability of tariff on supply of gas…” AR DOC | ||||||||
| NTPCNTPC Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 65% |
| “Rashtriya Chemicals and Fertilisers Ltd (RCF), another customer of GAIL, was paying revised tariff since February 2016 and the tariff from November 20, 2008 ti…” AR DOC | ||||||||
| CDSLCentral Depository Services (India) Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 60% |
| “ Enter the login credentials i.e., user id and password mentioned below: For Members holding shares in Demat Form :- a) For NSDL: 8 Character DP ID followed b…” AR · +2 DOC | ||||||||
| ITCITC Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 60% |
| “The order of the Authority of Advance Ruling (AAR) dated 24.05.2019, the Appellate Authority for Advance Ruling (AAAR) dated 06.11.2019, and the Hon’ble Bombay…” AR DOC | ||||||||
| JSLJindal Stainless Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 60% |
| “JSL is one of the largest customers of the Company.” AR DOC | ||||||||
| BHELBharat Heavy Electricals Ltd. | UNSTATED | — | — | — | COGS | FY24 | EST | 60% |
| “Awards and recognition JSW Steel has been recognised with the prestigious ET Edge Best Organisation in Customer Experience 2024 award JSW Steel’s World MSME Da…” AR DOC | ||||||||
| SCIShipping Corporation of India Ltd. | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 60% |
| “The State Government has filed an appeal before the SCI, and based on merits of the case duly supported by a legal opinion and a favorable order from the High …” AR DOC | ||||||||
| BSEBSE Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 60% |
| “The Company has received declaration from Mr. Shyamal Mukherjee, that he meets the criteria of independence as prescribed both under sub-section (6) of Section…” AR DOC | ||||||||
| JSLJindal Stainless Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 60% |
| “In addition, JSL operates a hot induction bend manufacturing facility and two major concrete weight coating (“CWC”) plants, enabling it to offer a comprehensiv…” AR DOC | ||||||||
| MRPLMangalore Refinery & Petrochemicals Ltd. | UNSTATED | — | — | — | — | 2025-10 | EST | 55% |
| “Rakesh Kumar Jain: Actually, initially we are expecting that we will get to supplies from MRPL” CONCALL DOC | ||||||||
| BPCLBharat Petroleum Corporation Ltd. | UNSTATED | — | — | — | — | 2025-07 | EST | 55% |
| “We have signed a long-term contract with BPCL for 15 years contract.” CONCALL DOC | ||||||||
| KAJARIACERKajaria Ceramics Ltd. | UNSTATED | — | — | — | — | 2026-08 | EST | 50% |
| “You have to understand this thing that in Morbi, there is only one gas supplier that is GSPC, which is partly importing on spot and partly taking gas from GAIL…” CONCALL DOC | ||||||||
| CMPDICentral Mine Planning & Design Institute Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 50% |
| “Coal Gas India Limited (CGIL): Advanced project planning via this JV (51% CIL, 49% GAIL) incorporated on March 25, 2025, to set up a Coal-to-Synthetic Natural …” AR DOC | ||||||||
| GPILGodawari Power & Ispat Ltd. | UNSTATED | — | — | — | — | 2026-08 | EST | 50% |
| “We have been in touch with our supplier GAIL” CONCALL DOC | ||||||||
| SUPPLIER | BASIS | EST ₹CR | RANGE | % COST | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| SAILSteel Authority of India Ltd. | UNSTATED | 30,553 | 22,914–30,553 | 26.5% | — | FY25 | EST | 75% |
| “He also served as Government Nominee Director on the Boards of GAIL (India) Ltd., IOCL and EIL, contributing to strategic decision-making in the energy sector.” AR DOC | ||||||||
| TMCVTata Motors Ltd. | CONTRACT | 23,120 | 10,823–23,120 | 20.0% | — | 2026-10 | EST | 75% |
| “(iv) The Board of Directors of the Company based on recommendations of the Nomination and Remuneration Committee, vide Circular resolution(s) passed on Februar…” AR · +1 DOC | ||||||||
| JSLJindal Stainless Ltd. | UNSTATED | 11,843 | 8,883–11,843 | 10.3% | — | 2026-10 | EST | 65% |
| “(ii) purchase of pipes from JSL;” AR DOC | ||||||||
| HINDZINCHindustan Zinc Ltd. | UNSTATED | 11,261 | 8,446–11,261 | 9.8% | — | FY25 | EST | 75% |
| “He also served as Government Nominee Director on the Boards of GAIL (India) Ltd. contributing to strategic decision-making in the energy sector.” AR DOC | ||||||||
| BHELBharat Heavy Electricals Ltd. | UNSTATED | 9,314 | 9,314–9,314 | 8.1% | — | FY25 | EST | 65% |
| “• Successfully developed and supplied Triple Module Redundancy (TMR) Governor for the Compressor Package of GAIL Usar Propane Dehydrogenation (PDH) Propylene P…” AR DOC | ||||||||
| NMDCNMDC Ltd. | UNSTATED | 8,843 | 6,632–8,843 | 7.7% | — | FY25 | EST | 75% |
| “He also served as Government Nominee Director on the Boards of GAIL (India) Ltd., IOCL and EIL contributing to strategic decision-making in the energy sector.” AR DOC | ||||||||
| JINDALSAWJindal Saw Ltd. | UNSTATED | 4,934 | 4,934–4,934 | 4.3% | — | FY26 | EST | 75% |
| “Dr. Karnatak has extensive Board-level experience, having served as Chairman and Director on the Boards of GAIL (India) Ltd., Mahanagar Gas Ltd., GAIL Gas Ltd.…” AR DOC | ||||||||
| LLOYDSMELloyds Metals And Energy Ltd. | UNSTATED | 4,718 | 3,539–4,718 | 4.1% | — | FY25 | EST | 65% |
| “We had earlier also signed a contract with GAIL for use of LNG.” AR DOC | ||||||||
| WELCORPWelspun Corp Ltd. | UNSTATED | 4,624 | 4,624–4,624 | 4.0% | — | 2026-02 | EST | 50% |
| “Domestic oil and gas, there were IOCL, EIL and GAIL, which are their primary buyers.” CONCALL DOC | ||||||||
| DEEPAKFERTDeepak Fertilisers & Petrochemicals Corp. Ltd. | UNSTATED | 3,172 | 2,379–3,172 | 2.8% | — | FY26 | EST | 60% |
| “As per two contracts entered into 2006 and 2010 between the subsidiary, company, Mahadhan Agritech Limited (MAL) (Formerly known as Smartchem Technologies Limi…” AR · +1 DOC | ||||||||
| KSBKSB Ltd. | UNSTATED | 2,426 | 2,426–2,426 | 2.1% | — | 2025-09→2026-03 | EST | 55% |
| “And as and when the supply goes, for example, you have seen in the news maybe reciprocating pump, we have supplied now to GAIL Pata, I think.” CONCALL · +1 DOC | ||||||||
| CMPDICentral Mine Planning & Design Institute Ltd. | UNSTATED | 1,893 | 1,893–1,893 | 1.7% | — | 2026-10 | EST | 75% |
| “He also served as Government Nominee Director on the Boards of GAIL (India) Ltd. contributing to strategic decision-making in the energy sector.” AR DOC | ||||||||
| GPILGodawari Power & Ispat Ltd. | UNSTATED | 1,482 | 1,482–1,482 | 1.3% | — | FY26 | EST | 75% |
| “total CO2 saving approximately 2 Lakh tonnes per annum 7-year natural gas supply MoU with GAIL India Limited;” AR DOC | ||||||||
| ENGINERSINEngineers India Ltd. | UNSTATED | 1,083 | 1,083–1,083 | 0.9% | — | FY25 | EST | 60% |
| “Your Company is executing following major pipeline projects and associated facilities assignments for various clients which are in advanced stages of execution…” AR DOC | ||||||||
| URBANCOUrban Company Ltd. | CONTRACT | 429 | 125–429 | 0.4% | — | 2026-10 | EST | 70% |
| “a) Name(s) of the related party and nature of relationship: GAIL (India) Limited (GAIL), Promoter b) Nature and Duration of contracts/arrangements/ transaction…” AR · +1 DOC | ||||||||
| RAILTELRailtel Corporation Of India Ltd. | CONTRACT | CT 11 | — | — | — | FY25 | EST | 85% |
| “Dear Sir/Madam, Pursuant to Regulation 30 read with Part A (B) of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, thi…” ORDER p.1 · 04-DEC-24 DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | COGS | FY24 | EST | 75% |
| “Percentage of input material (inputs to total inputs by value) sourced from suppliers: FY 2024-25 Current Financial Year FY 2023-24 Previous Financial Year Dir…” AR · +1 DOC | ||||||||
| Karnataka | UNSTATED | — | — | — | COGS | FY24 | EST | 75% |
| “Mitigation measures Iron ore ∞ Iron ore requirements are met by optimum blend of captive mines and balance sourcing from vendors in Odisha and Karnataka – Capt…” AR DOC | ||||||||
| Australia | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Sourcing being done from countries like Canada, USA, Australia, Indonesia and Mozambique.” AR DOC | ||||||||
| JSWENERGYJSW Energy Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Electricity Power will be sourced from captive power plant and the long-term power purchase agreements with JSW Energy Limited and its subsidiaries.” AR DOC | ||||||||
| JSWSTEELJSW Steel Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 75% |
| “Accreditations ∞ Accredited with ISO 14001:2015 (Environmental Management Systems) ∞ Accredited with ISO 45001:2018 (Safety Management System) ∞ Accredited wit…” AR DOC | ||||||||
| Australia | UNSTATED | — | — | — | COGS | FY24 | EST | 75% |
| “6.1.13 Investments (₹ in crore) FY 2024-25 FY 2023-24 Change Growth (%) Investments in Associates and Joint Ventures 3,689 1,709 1,980 116% Other Investments 5…” AR DOC | ||||||||
| JSWINFRAJSW Infrastructure Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “He has served on the Board of several companies since 1987, including Indian Oil Corporation Limited and GAIL (India) Limited.” AR DOC | ||||||||
| OILOil India Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “These projects are expected to give substantial gain in natural gas production potential of the Company upon completion: (a) A Group Gathering Station at East …” AR DOC | ||||||||
| PETRONETPetronet LNG Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “Before joining Indian Oil, Shri Singh served as Execuve Director in GAIL (India) Limited.” AR · +2 DOC | ||||||||
| NSLNISPNMDC Steel Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “He also served as Government Nominee Director on the Boards of GAIL (India) Ltd., IOCL and EIL contributing to strategic decision-making in the energy sector.” AR p.215 · 31-MAR-25 DOC | ||||||||
| IOCIndian Oil Corporation Ltd. | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 70% |
| “Shri Pankaj Jain, IAS, Secretary, Ministry of Petroleum & Natural Gas inaugurating IGL Genie- the WhatsApp chatbot for IGL Customers at IGL Pavilion during Ind…” AR DOC | ||||||||
| IOCIndian Oil Corporation Ltd. | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 70% |
| “16.3 Reconciliation of the number of equity shares outstanding as at the beginning and at the end of the year: 196Annual Report 2024-25INDRAPRASTHA GAS LIMITED…” AR DOC | ||||||||
| Maharashtra | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Further, your Company also directly imports LNG from various suppliers worldwide and gets it re-gasified at PLL’s SSLNG facility at GAIL Vijaipur Energizing Ex…” AR · +1 DOC | ||||||||
| Others | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Other assets (I in crores) Particulars As at 31 March 2025 As at 31 March 2024 Non-current Current Non-current Current Considered good Capital advances 1,328 -…” AR · +1 DOC | ||||||||
| Karnataka | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “g) Levies relating to Energy / Power Obligations cases includes disputes pertaining to uninterrupted power charges by Karnataka Power Transmission Company Ltd.…” AR DOC | ||||||||
| Maharashtra State Electricity Distribution Co. Limited | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “g) Levies relating to Energy / Power Obligations cases includes disputes pertaining to uninterrupted power charges by Karnataka Power Transmission Company Ltd.…” AR DOC | ||||||||
| RELIANCEReliance Industries Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Matters in relation to Oil and Gas: (a) Disallowance of certain costs under the production sharing contract, relating to Block KG-DWN-98/3 and consequent depos…” AR · +1 DOC | ||||||||
| BPCLBharat Petroleum Corporation Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 65% |
| “CB-ONN-2010/11 (Onshore Cambay Basin, Gujarat) CB-ONN-2010/11, the onshore block was awarded by Government of India to the consortium, currently consisting of …” AR DOC | ||||||||
| BPCLBharat Petroleum Corporation Ltd. | UNSTATED | — | — | — | COGS | FY24 | EST | 65% |
| “CB-ONN-2010/11 (Onshore Cambay Basin, Gujarat) CB-ONN-2010/11, the onshore block was awarded by the Government of India to the consortium, currently consisting…” AR DOC | ||||||||
| JSLJindal Stainless Ltd. | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 65% |
| “The Company buys pipes from JSL for various ongoing capital expenditure projects.” AR DOC | ||||||||
| ATGLAdani Total Gas Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 65% |
| “How We Ensure Service Reliability and Quality Resilient Infrastructure Extensive network of gas stations and pipelines for uninterrupted supply with consiste…” AR DOC | ||||||||
| ATGLAdani Total Gas Ltd. | UNSTATED | — | — | — | COGS | FY26 | EST | 65% |
| “intent-based RLNG and domestically-produced gas sourcing for non-priority consumers Domestic gas tie-ups: Agreements with Bharat Petroleum, Exploration (Alph…” AR DOC | ||||||||
| PETRONETPetronet LNG Ltd. | UNSTATED | — | — | — | SG&A | FY25 | EST | 65% |
| “C. Information about major customers (from external customers) The Group derives revenues from the following customers which amount to 10 per cent or more of a…” AR DOC | ||||||||
| NTPCNTPC Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 65% |
| “Mahanagar Gas Limited (MGL), one of the customers of GAIL, filed a complaint with PNGRB on February 12, 2015 regarding applicability of tariff on supply of gas…” AR · +1 DOC | ||||||||
| ONGCOil & Natural Gas Corporation Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 60% |
| “The major customers/refiners are IOCL, BPCL, HPCL, MRPL, GAIL, etc.” AR DOC | ||||||||
| ONGCOil & Natural Gas Corporation Ltd. | UNSTATED | — | — | — | R&D | FY26 | EST | 60% |
| “No. NELP/ OALP Round Block Name ONGC’s PI Partner’s PI 1 Nominated Raniganj (Note No. 53.1.10) 74% CIL 26% 2 NELP-VIII GK-OSN-2009/1 40% AWEL 20%, GSPC 20%, IO…” AR DOC | ||||||||
| TMCVTata Motors Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 60% |
| “Over the years we have developed an extensive ~1.28 Mn CNG Vehicles 5,924 Industrial & Commercial Customers ~8,320 Km Pipeline Network ~3.21 Mn Domestic Connec…” AR DOC | ||||||||
| JSLJindal Stainless Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 60% |
| “JSL is a leading global manufacturer and supplier of Iron & Steel pipes, fittings, and accessories with manufacturing facilities in India, USA, Europe and UAE.” AR DOC | ||||||||
| URBANCOUrban Company Ltd. | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 60% |
| “B. Other Contracts/ Transactions/ Agreements: Further, to meet additional gas requirements and support ancillary business activities, the Company may enter int…” AR DOC | ||||||||
| TEJASNETTejas Networks Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 60% |
| “Going Global 2000-2005 2006-2010 2011-2015 2016-2020 2021- Present First customer wins at Airtel, Tata Communications, Power Grid (PGCIL), Oil India (OIL), Gas…” AR p.6 · 31-MAR-25 DOC | ||||||||
| MGLMahanagar Gas Ltd. | UNSTATED | — | — | — | — | 2026-02 | EST | 55% |
| “We enter into contract with the suppliers, who gives us aggregators like GAIL or Shell or any of these OMCs.” CONCALL · +1 DOC | ||||||||
| ENRINSiemens Energy India Ltd. | UNSTATED | — | — | — | — | 2025-12 | EST | 55% |
| “Because we are serving the Indian market with the compressors so we have very important customers ONGC and IOCL, You name it – GAIL the gas transportation.” CONCALL p.19 · 31-DEC-25 DOC | ||||||||
| CONCORContainer Corporation of India Ltd. | UNSTATED | — | — | — | — | 2026-02 | EST | 50% |
| “And we have also tied up with big corporate customers like Vedanta, Jindal, Tata, GAIL, Petronet already I have told you.” CONCALL DOC | ||||||||
| IRFCIndian Railway Finance Corporation Ltd. | UNSTATED | — | — | — | COGS | 2026-05 | EST | 50% |
| “Our client is GAIL, our client is Coal India Limited or its subsidiary, our client is IOCL or its subsidiary.” CONCALL p.15 · 31-MAY-26 DOC | ||||||||
| SOURCE | READ | % | LAST READ |
|---|---|---|---|
| ANNUAL | 3/3 | 100% | 15-OCT-26 |
| CONCALL | 4/4 | 100% | 15-OCT-26 |
| SCREENER | 1/1 | 100% | 08-NOV-26 |
| SIGNAL | VALUE | AS OF | INPUTS |
|---|---|---|---|
| CUSTOMER HHI | 1.000 | 14-NOV-26 | JSW Steel Ltd. share 100% |
| CUST MOM 1M | +12.3% | 14-NOV-26 | from 15-OCT-26 · Avanti Feeds Ltd. +4.6% w 0 · Central Depository Services (India) Ltd. +11.9% w 0 · ITC Ltd. +8.0% w 0 · The New India Assurance Company Ltd. -13.8% w 0 · Bank of India +18.2% w 0 · Mahanagar Gas Ltd. +10.1% w 0 |
| DISTRESS SCORE | 0.219 | 13-OCT-26 | roe 0.09 · operatingMargin 0.08 · debtToEquity 0.28 · interestCoverage 11.09 · assetTurnover 1.01 · leverage 1.58 |
| SUPP MOM 1M | -0.4% | 14-NOV-26 | from 15-OCT-26 · Bharat Petroleum Corporation Ltd. +2.8% w 0 · Indian Oil Corporation Ltd. +11.8% w 0 · Bharat Heavy Electricals Ltd. +0.5% w 0 · Tata Motors Ltd. +2.5% w 0 · JSW Energy Ltd. +8.5% w 0 · JSW Steel Ltd. +12.3% w 0 |