GAIL (India) Limited — Audit Report / Information 2021

Jun 9, 2021

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GAIL {India) Limited

16 � cnTlTT � � �-110066, '+ITTd' GAIL BHAWAN, 16 BHIKAIJI CAMA PLACE NEW DELHl-110066, INDIA 1:J>T-7/ PHONE: +91 11 26182955 ffl/FAX: +91 1126185941 t-i'rc;r/E-mail: info@gail.co.in

(A Government of India Undertaking -A Maharatna Company)

ND/GAIL/SECTT/2021

09.06.2021

1. Listing Compliance ! 2. Listing Compliance ! National Stock Exchange oflndia Limited ! BSE Limited ! Exchange Plaza, 5th Floor, ! Floor 1, Phiroze Jeejeebhoy Towers ! Plot No. C/1, G Block, Bandra-Kurla i Dalal Street Complex, Bandra (East) ! Mumbai - 400001 Mumbai - 400051 ! ,[_][Scri] p[Code:] _ G[A] IL-[E] Q________ [L ] __[Scri] p C[ode] : 532155

Sub.: Audited Financial Results (Standalone and Consolidated) for the quarter and year ended 3p[t ] March, 2021

Dear Sir/ Madam,

This is in continuation of our letter of even no. dated 02.06.2021 in respect of intimation of Board Meeting. The Board of Directors of the Company in its meeting held today i.e. 09.06.2021 inter-aha approved the Audited Financial Results of the Company for the quarter/ financial year ended 31[st ] March, 202 I.

Please find enclosed herewith a copy of the Audited Financial Results of the Company along with Independent Auditors Report of M/s ASA & Associates, LLP and M/s A R & Co., Joint Statutory Auditors of the Company on the Financial Results.

Further, pursuant to SEBI circular no. CIR/CFD/CMD/56/2016 dated May 27, 2016, it is declared that Joint Statutory Auditors have expressed an unmodified opinion(s) on the Audited Financial Results of the Company for the year ended 31[st ] March, 2021.

Following Disclosures are also enclosed herewith:

• 1) Disclosure in accordance with Regulation 52(4) and 54(2) of SEBI LODR Regulations, 2015 and

• 2) Annual Disclosure filed with Stock Exchange dated 30.04.2021 pursuant to circular no. SEBVHO/DDHS/CIR/P/2019/144 dated November 26, 2018 on details of Incremental Borrowings done during FY 2020-21.

The Board meeting commenced at 12.00 noon and concluded at 02: oi PM.

This is in compliance of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking You You! lly ffit (A.K. Jha) Company Secretary

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��/CIN L40200DL1984GOl018976 www.gailonline.com

E[ncl.] :[As above ]

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg New Delhi-110017

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi - 110075

Independent Auditors' Report on the Quarterly and Year to date Standalone Financial Results of GAIL Cndia) Limited pursuant to the regulation 33 of the SEBI (Listing Obligatons and Disclosure Requirements) Regulations 2015, as amended

The Board of Directors of GAIL (India) Ltd.

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of standalone financial results of GAIL (India) Limited ("the Company") for the quarter and year ended on March 31, 2021 ('the Statement'), being submitted by the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), including relevant circulars issued by SEBI from time to time.

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

• (i) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

• (ii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the quarter and year ended on March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

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ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurohindo Marg New Delhi-110017

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi - 110075

Emphasis of Matter

• (i) We draw attention to Note No. 3 to the standalone financial results regarding, various transportation tariff orders issued by Petroleum and Natural Gas Regulatory Board (PNGRB), which have been contested by the company at Appellate Tribunal for Electricity (APTEL) and also certain customers have challenged these orders of PNGRB in Court of Law. Adjustment if any, wi be recognized as and when matter is finally decided.

• (ii) We draw attention to Nate No. 4 to the standalone financial results regarding CEST AT 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, of Rs. 3,139.92 crores including applicable penalty and interest thereon. Considering the merits of the case, 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.

• (i ) We draw attention to Note No.6 to the standalone financial results regarding corporate guarantees given by the Company on behalf of US subsidiary (Rs. 535.41 crores, against guarantee f s, towards meeting its obligation) and its Step down subsidiary (Rs. 7,274.74 crores for furtherance of Company business). In this regard, the Company is of the view that no provision is required towards expected credit loss (ECL) on guarantees. The Company has also sought opinion from Expert Advisory Committee (EAC) constituted by The Institute of Chartered Accountants of India on applicability of IND AS 109 towards provisioning under ECL Model.

• (iv) We draw attention to Note No. 7 to the standalone financial results regarding the impact of COVID -19 pandemic on the Company. The impact of pandemic in future period cannot be ascertained as on date. However, the Management is of view that there will be no significant impact on the continuity of operations of the business on long term basis/ on useful life of the assets/ on financial position, etc.

Our opinion is not modified in respect of above matters.

Management's Responsibilities for the Standalone Financial Results

These quarterly standalone financial results as well as the year to date standalone financial results have been prepared on the basis of the reviewed standalone financial results for the nine-month period ended December 31, 2020, the audited standalone financial statements as at and for the year ended March 31, 2021. The Company's Board of Directors are responsible for the preparation and presentation of these standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate °" -- . nting records in accordance with the provisions of the Act for safeguarding of the assets of the 'b- >--ssoc,c] , 0 Ch e/�� �-='A_ .... R-� ....� <lt-tered Accout'[t.] �*

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg New Delhi -110017

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi -110075

Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and. maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs wi always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

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ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg New Delhi-110017

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi -110075

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

• (i) The Statement includes financial results/information of 12 joint operations, whose results reflect total revenues of Rs. 841.62 crores, total net profit before tax of Rs. 374.49 crores and total comprehensive income of Rs. 374.49 crores for the year ended March 31, 2021 and total assets of Rs. 1,058.45 crores as at March 31, 2021 which have not been audited by their auditors. This financial results/information is 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.

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ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg New Delhi-110017

A.R.&Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi - 110075

• (ii) The statement includes the results for the quarter ended March 31, 2021 and the corresponding quarter ended in the previous year as reported in these standalone financial results, are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current and previous financial year respectively, which were subject to limited review, as required under the Listing Regulations.

Our opinion is not modified in respect of these matters.

For ASA & Associates LLP Chartered Accountants

Firm Registration No: 009571N/N500006

p Partner Membership No. 088810 UDIN: 21088810AAAABZ8712

For A.R. & Co. Chartered Accountants

Firm Registration No: 00279,4C_ ,:::--A· 7 . & - � FRN-00274 � ______ e[r] e rJ Acco

Pawan K Goel Partner

Membership No. 072209 UDIN: 21072209AAAABP8989

Place: New Delhi Date: June 9, 2021

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GAIL (India) Limited

New Delhi

Statement of Standalone Audited Financial Results for the Quarter and Financial Year ended 31st March 2021

Sr.No. Particulars	For the Quarter End 31st March 2021 31st December 2020	For the Quarter End 31st March 2021 31st December 2020	(f in Crore except EPSI ed For the Financial Vear Ended 31st March 2020 31st March 2021 31st March 2020	(f in Crore except EPSI ed For the Financial Vear Ended 31st March 2020 31st March 2021 31st March 2020	(f in Crore except EPSI ed For the Financial Vear Ended 31st March 2020 31st March 2021 31st March 2020
1 2 3 4 5 6 7 8 9 10 Income Revenue from Operations Other Income Total Income Expenses Cost of Materials Consumed Purchase of Stock in Trade Changes in Inventories of Finished Goods, Stock in Trade and Work in Progress Employee Benefit Expenses Finance Cost Depreciation and Amortization Expenses Excise Duty Oter Exenses Total Exenses Proflt/(Loss) before tax (1·2) Tax Expense Current Tax Adjustment of tx relating t earlier periods Deferred Tax Total Tax Expense Net Profit/ (Loss) alter tax (3·4) Other Comprehensive Income (OCI) (A) Item to be reclassified to Profit or Loss in subsequent periods Net movement in cash flow hedge gain/ (loss) Income tax effect tereon Net OCI to be reclassified to Profit or Loss in subsequent periods (B) Items not to be reclassified to Profit or Loss in subsequent periods (i) Re measurementgain/(loss) on defned benefit plans Income tax effect thereon (ii) Net gain / (loss) on FVfOCI of equit shares Income tax effect thereon Net OCT not to be reclassified to Profit or Loss In subsequent period (i+ii) Other Comprehensive income for the period, Net or Tax (A+B) Total Comprehensive Income for the period (Profit and Loss and OCJ) Net _o(_tax (5+6) Paid• up Equit Share Capit.l (Face value of { 10 each) Reserves excluding Revaluation Reserves as per Balance Sheet Earnings per share (Face Value oft 10 each) (Refer Note No. S) a) Basic blDiluted l(EPS for the Quarter is not annualisedl	Audited 15,549.07 568.41 16 117.48 1,031.76 10,779.87 (253.18)	Unaudited 15,456.80 470.79 15 927,59 1,083.69 10,750.42 87.48		Audited Audited Audited 17,755.01 56,737.79 71,885.63 513.22 2,004.46 1,407.56
			18 268.23 58,742.25 73 293.19 %7.18 3,905.88 4,411.97 13,314.40 39,898.99 53,547.19 (430.68) 543.69 (598.62)
	336.09 45.85 475.80 2.85 1,086.85 13,505.89	404.14 33.12 489.50 2.51 1,209.04 14,059.90		316.13 32.93 501.58 1.89 1,009.10 IS 712,53	1,530.98 1,477.83 155,90 108.50 1,907.88 1,835.99 7.64 5.39 4,405.48 4,561.58
					52 356,44 65 349.83
	2,611.59 676.52 46.70 (19.30)	1 867,69 434.88 (40.47) (14.05)		2,555.70 208.02 917.56 (J,588.08	6 385.81 7 943.36 1,549.58 2,077.23 6.23 900.31 '60.181 fl,654.81 l 1,495.63 1,322.73
	703.92	380,36		1462.50
	1,907.67 396.58 (70.571	1 487.33 (190.59) 47.97		3 018.20 383.04 rt31.661	4 890.18 6 620.63 134.20 22.34 14.531 (5.621
	326,01	(142.62>		251.38	129.67 16.72
	53.63 (13.49)	(4.12) (54.20) 1.03 **17.48 **			41.26 (14.99) '10.38 3.77
	40.14	13.091		(36,721 (1,857.17) fl,857.171	30.88 [11.22) 1,124.53 (2,805.46) (2.691 1,121.84 [2,805.46)
	364.31 789.19 (2.691 361.62 789.19
	401.76 786.10			(1,893.89)	1,152.72 (2,816.68)
	727.77 643.48			'1 642.51>	1 282.39 r2 799.961
	2,635.44 2,130.81 4,440.39 4,510.14 4.24 3.30 4.24 3.30			1,375.69 4,510.14 6.69 6.69	6,172.57 3,820.67 4,440.39 4,510.14 39,043.10 37,529.45 10.85 14.68 10.85 14.b8
There 1s no discontnued operation durmg te period

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GAIL (India) Limited

New Delhi

tandalone Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Financial Year Ended 31st March 2021

		f' In Crorel	f' In Crorel	f' In Crorel	f' In Crorel	f' In Crorel	f' In Crorel	f' In Crorel
Sr. No. 1	Particulars Segment Revenue# A. Transmission Services I) Natural Gas II) LPG B. Natural Gas Marketing C. Petrochemicals D. LPG And Liquid Hydrocarbons E. Other Segment• F. Unallocated Total Less: Inter- Segment Revenue	For the Quarter ended 31st December 31st March 2021 2020 Audited Unaudited 1,531.00 1,613.51 168.90 175.35 11,991.77 11,903.40 2,217.86 1,936.62 865.06 877.86 247.10 262.98 0.26 0.28 17,021.95 16,770.00 1,472.88 1,313.20 For the Financial Year Ended 31st March 31st March 31st March 2020 2021 Audited Audited 1,554.20 5,952.59 171.86 667.26 14,744.88 43,845.61 1,217.39 7,060.89 1,153.91 3,293.87 282.13 982.68 6.15 0.78 19,130.52 61,803.68 1,375.51 5,065.89 2020 Audited 6,043.71 636.41 59,954.62 5,432.13 4,233.71 1,106.16 9.39 77,416.13 5,530.50
2 3	Sales/ Income from Operations Segment Results (Proflt/(Loss) before Interest and Tax) A. Transmission Services I) Natural Gas 11) LPG B. Natural Gas Marketing C. Petrochemicals D. LPG And Liquid Hydrocarbons E. Other Segment• Total Proft before Interest and Tax Add/ (Less) :(i] Other Un-allocable expenditure net of Unallocable income (ii] Finance Cost Total Proft befre Tax Segment Assets A. Natral Gas Transmission / Marketing B. LPG Transmission C. Petrochemicals D. LPG And Liquid Hydrocarbons E. Other Segment•	15,549.07 15,456.80 949.45 990.65 88.52 93.14 280.89 (73.70) 17,755.01 56,737.79 892.03 3,677.93 94.51 351.38 602.64 (702.25) 71,885.63 3,539.77 330.91 2,156.24
		608.90 434.08 474.36 282.74 62.12 101.69 72.36 528.14 87.80				1,064.86 1,303.45 372.00 6,067.37 (245.50) 1,580.62 536.99 7,899.03
		2,464.24 193.20 (45.85) 2,611.59
		926.55 889.55 2,403.50 2,258.47		963.46 926.55 2,216.96 2,403.50 12,849.62 15,208.51 963.46 2,216.96 12,849.62
4	F. Un Allocated	15,208.51 15,657.93		12,849.62 15,208.51
	Total Assets Segment Liabilities A. Natural Gas Transmission / Marketing 8. LPG Transmission C. Petrochemicals D. LPG And Liquid Hydrocarbons E. Other Segment• F. Un Allocated	73,310.44	71,803.40		68,533.63 73,310.44 11,448.32 13,335.36 123.96 131.89 466.16 555.54 162.04 173.50 331.42 304.77 12,030.63 12,198.23			68,533.63 11,448.32 123.96 466.16 162.04 331.42 12,030.63 24,562.53
		13,335.36 12,337.65 131.89 126.03 555.54 506.25 173.50 170.09 304.77 273.02 12,198.23 10,896.07
	Total Liabilities	26,699.29 24,309.11			24,562.53 26,699.29

# Segment Revenue includes Other Operating Income

• •other Segment includes City Gas Distribution (CGD), GAIL Tel, E&P & Power Generation

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GAIL (India) Limited New Delhi Standalone Statement of Asset and Liabilities as at 31st March 2021

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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 -Trade Receivables -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 Equit LIABILITIES Non-Current Liabilities a) Financial Liabilities -Borrowings -Lease Liabilities -Other Financial Liabilities b) Provisions c) Contract Liabilites d) Defrred Tax Liabilities (Net) e) Other Non-Current Liabilities Total Non-Current Liabilities Current Liabilities a) Financial Liabilities -Borrowings -Lease Liabilites -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 -�rrent Liabilities \$1�fc,"_ � lU� and Liabilities r, l As at 31st March 2021 (Audited) 33,374.47 11,903.41 2,295.49 827.98 9,255.34 1,093.44 3,065.69 371.99 413.82 1,055.70 63,657.33 2,603.81 468.48 3,392.33 1,212.22 149.61 684.65 482.10 659.91 9,653.11 73,310.44 4,440.39 42,170.76 46,611.15 4,827.08 413.25 687.16 547.69 324.29 4,502.23 4,180.94 15,482.64 738.50 194.15 230.82 4,095.53 4,020.12 630.08 495.13 812.32 11,216.65 73,310.44 ('in Crore) As at 31st March 2020 (Audited) 31,393.29 10,581.88 1,872.94 378. 75 7,498.47 1,029.09 3,101.88 161.81 660.52 1,078.59 57,757.22 2,960.08 . 4,546.84 548.33 255.58 725.21 882.54 857.83 10,776.41 68,533.63 4,510.14 39,460.96 43,971.10 3,612.12 56.47 697.64 529.67 210.49 4,497.19 3,521.38 13,124.96 1,799.70 149.13 262.21 3,866.22 3,478.23 552.01 575.03 755.04 11,437.57 68,533.63*

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GAIL (India) Limited New Delhi Standalone Statement of Cash Flows For the Financial Year Ended 31st March 2021

Particulars A) CASH FLOW FROM OPERA TING ACTIVITIES 1 Profit Befre Tax 2 Adjustments for: Deoreciation and amortisation exoenses Exchange Rate Variation on Foreign Currency Loan/Advance Finance Cost Dividend Income on Investments Dividend Income fom Related Partv Interest Income I (Profit) / Loss on Sale of Investment MTM (gain)/loss on Mutual fnd Investment Re measurement gain/loss on defned beneft olans Provision fr Employees Benefts Provision fr Probable Obligations Provision fr Doubtfl Debts Other Provisions Amortization of Government Grant Amortization of Financial Guarentee Obligation I(Profit) / Loss on Sale of Asset (Net) Provision fr Impairment Loss/ CWIP MTM loss on Commodit Derivative (Net) Dry Well Expenses written of Exceotional item-Provision/fReversall fr Imoairment (Net) Subtotal (2) 3 Ooeratinl Proft Befre Workinl Caoital Chanees (1+2) 4 Chanees in Worknl Caoital (Excludinl Cash and Cash Eauivalents) Trade and Other Receivables Inventories Trade and Other Pavable Changes in Workine Canital fExcludine Cash and Cash Eauivalentsl 5 Cash Generated fom Onerations (3+4 l 6 Direct Taxes Paid Net Cash fow fom Operating Activities (5+6)			For the Financial Year Ended 31st March 2021 31st March 2020 Audited Audited 6,385.81 7,943.36 1,907.88 1,835.99 (22.47) 37.01 155.90 108,51 (87.27) (217.26) (531.071 (449.17) (786.44) (311.21) 9.00 (28.52) (0.42) - 41.26 (14.99) 11.78 (138.16) 63.51 (2.85) (113.33) 52.40 0.16 8.61 (46.01) (40.66) (4.14) (3.76) 5.47 (0.10) (70.41) 57.73	For the Financial Year Ended 31st March 2021 31st March 2020 Audited Audited 6,385.81 7,943.36 1,907.88 1,835.99 (22.47) 37.01 155.90 108,51 (87.27) (217.26) (531.071 (449.17) (786.44) (311.21) 9.00 (28.52) (0.42) - 41.26 (14.99) 11.78 (138.16) 63.51 (2.85) (113.33) 52.40 0.16 8.61 (46.01) (40.66) (4.14) (3.76) 5.47 (0.10) (70.41) 57.73	For the Financial Year Ended 31st March 2021 31st March 2020 Audited Audited 6,385.81 7,943.36 1,907.88 1,835.99 (22.47) 37.01 155.90 108,51 (87.27) (217.26) (531.071 (449.17) (786.44) (311.21) 9.00 (28.52) (0.42) - 41.26 (14.99) 11.78 (138.16) 63.51 (2.85) (113.33) 52.40 0.16 8.61 (46.01) (40.66) (4.14) (3.76) 5.47 (0.10) (70.41) 57.73
					(14.99) (138.16) (2.85) 52.40 8.61 (40.66) (3.76)
					(0.10) 57.73
				184.84 3.70	(198.94)
			10.61 732.55 7,118.36 1,803.00 355,36 62.60 2,220.96	10.61	(101.63)
					593.00 8,536.36 649.95 (638.80) 296.11 307.26
			9,339.32 (1,275.41) 8,063.91 (4,989.91) 13.24 728.03		8,843.62 (1,955.52) 6,888.10 (5,462.04) 27.53 1,010.51
BJ CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets/ CWIP Sale ofFixed Assets Receiot of Government Grants /Caoital Grant) Investment in Mutual Funds Sale of Mutual Fund Investment in Other Comnanies Loans & Advances· Related Parties /Net) Interest Received Dividend Received on Investment Dividend Received from Related Partv Net Cash fow from lnvestin1 Activities
			(8,733.01) 8,274.02		(19,591.99) 19,620.51
			(612.901		(650.75)
			55.60 785.68 87.27 531.07 (3,860.91)		(2,677.06) 317.92 217.26 359.17 (6,828.94) (130.10) 4,649.70
Cl CASH FLOW FROM FINANCING ACTIVITIES Reoavment ofBorrowings Borrowings during the period Lease Liabilities Paid Buyback of Shares Dividend & Dividend Tax Paid Finance Cost Paid
			(3,193.62) 3,650.00 (157.50) (1,280.97) (2,237.11 l (319.91)
					(125.96)
					(3,942.06)
					(113.19)
Net Cash Flow fom Financin1 Activities Net Increase in Cash and Cash Equivalents (A+B+Cl			(3,539.11) 663.89		338.39 397.55
Cash and Cash eauivalent at the onening of the oeriod Cash and Cash equivalent at the closing of the oeriod			548.33 1,212.22		150.78 548.33

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Notes to Standalone Financial Results

1. The above audited Standalone Financial Results were reviewed and recommended by the Audit Committee and approved by the Board of Directors in its meetings held on 9[th ] June 2021.

2. The Financial Results have been audited by the Statutory Auditors as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

3. The Company has filed appeals before Appellate Tribunal (APTEL), against various moderation done by PNGRB in respect of six numbers of final tariff order(s) issued by PNGRB and also certain customers have challenged some of the Tariff orders of PNGRB in Court of Law. Adjustment on account of revision, if any will be recognized as and when the matter is finally decided.

4. CESTAT, Delhi vide order dated 30[th ] November 2018 has confirmed the demand of differential Central Excise duty of� 3,139.92 crore (Previous year: � 3,014.32 crore) including penalty and interest in respect of an appeal filed by the Excise Department. Considering the merits of the case, the Company has filed an appeal before the Honorable 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 of� 20 Crore and furnishing security to the extent of� 132 crore. Based on the favorable legal opinions obtained on the matter, the Company is confident of favorable outcome.

5. on 15[th ] January 2021, the Company has bought back 6,97,56,641 fully paid up equity shares of face value of z IO each (representing 1.55% the total number of fully paid up equity shares in

6. the paid-up share capital of the Company) for an aggregate amount of z 1,046.35 crore (excluding taxes) at z 150 per equity share. The settlement of all valid bids were completed on 19[th ] March 2021 and the equity shares bought back were extinguished on 22[nd ] March 2021. Further, earnings per share has been adjusted on account of buy back of shares.

7. 1. Pursuant to the approval of Board of Directors for buyback of equity shares in its meeting held

8. The Company has issued Corporate Guarantees on behalf of US subsidiary (Z 535.41 Crore, against guarantee f s, towards meeting its obligation) and its Step down subsidiary (z 7274. 74 crore for furtherance of Company business). As per the provisions ofind AS 109, the Company has disclosed the issued guarantees in its Notes to Account and is of the view that no provision required towards expected credit loss (ECL) on guarantees. However, the Company has sought opinion from Expert Advisory Committee constituted by The Institute of Chartered Accountants of India on dated 09[th ] June 2021,on applicability of Ind AS 109 towards provisioning under ECL model.

9. COVID-19 pandemic, globally and in India, is causing significant disturbance in economic and business activities. It has also temporarily impacted the business activities of the Company. However, the Company has achieved pre-covid operational level of operations. The Company has assessed the potential impact of COVID-19 based on the current circumstances and expects / on

no significant impact on the continuity of operations of the business on long term basis useful life of the assets / on financial position etc.

1. Pursuant to SEBI circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated 26[th ] November 2018, annual disclosure by Large Corporate for FY 2020-21 which has already filed with stock ges on 27[th ] April 2021 is attached as Annexure-1

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1. The Company has maintained required asset cover as per terms of offer document/ Information Memorandum and/ or Debenture Trust Deed, including compliance with all covenants, in respect of the listed non-convertible debt securities.

2. The Statement of Assets and Liabilities and Statement of Cash Flows have been disclosed along with audited financial results as per Regulation 33 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

3. Figures for the quarter ended 31[st ] March 2021 are the balancing figures between audited figures in respect of the full financial year ended 31[st ] March 2021 and the published year to date figures up to the third quarter of the current financial year.

4. The Company hereby declares that the auditors have issued audit report for standalone financial March 2021.

results with unmodified opinion for the financial year ended 31[st ]

1. The Standalone Financial Statements for the financial year ended 31[st ] March 2021 are subject to review by the Comptroller and Auditor General of India u/s 143 (6) of the Companies Act, 2013.

2. Previous period figures have been regrouped/ reclassified, wherever required.

For GAIL (India) Limited

Place: New Delhi Date: 9[th ] June 2021

� (A. K. Tiwari) Director (Finance) (DIN: 07654612)

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�R� FRN-002744C reo AccoU

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itc;J (��ltl) �'e� ('llffil fficpR qi] � - � �) GAIL (India) Limited

(A Government of India Undertaking-A Maharatna Company)

1IB 'lfcR. 16�<l'iTlll� � �-110066. �mi GAIL BHAWAN. 16 BHIKAIJI CAMA PLACE NEW DELHl-110066, INDIA ri;R/PHONE:+911126182955 ¢cm/FAX: +9111.26185941 �-�/E-mail: info@gail.co.in

Annexure 1.

Format of the Annual Disclosure to be made by an entit identified as a LC

1. Name of the Company : GAIL (India) Limited

2. CIN : L40200DL 1984801018976

3. Report Filed for FY : 2020-21

4. Details of the borrowings (all figures in Rs crore): Rs.5,000.00

SI No. Particulars Detail (RS. Cr.) i Incremental borrowinQ done in FY 2020-21 (a) Rs. 3,650.00 * Ii Mandatory borrowing to be done through issuance of debt Rs. 912.50 securities (b )= (25% of a) Iii Actual borrowings done through debt securities in FY 2020-21 NIL (c) Iv Shortfall in the mandatory borrowing through debt securities Rs. 912.50 (d = b-c ) V Reason for shortfall, if any, in mandatory borrowings through Term Loan already debt securities tied up with Banks/ Financial Institution at competitive rates and having flexible option of prepayment.

l (Signature) Name of the Company Secretary: A. K. Jha Designation : Company Secretary Contact Detail: 011-26182955

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(Signature)

Name of the Chief Financial Officer: A. K. Tiwari Designation: Director Finance & CFO Contact Detail : 011-26182955

Date : Q.,-{ 04 / 2-6 !LI

*As per Para 3.1 of SEBls circular no SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018�. incremental borrowings during FY 2020-21 means all borrowings done during the financial year with original maturity of more than 1 year, irrespective of whether such borrowings is for · refinancing/repayment of existing debts or otherwise and excludes external commercial borrowings and inter corporate borrowings between a parent and subsidiary (ies).

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��/CIN L40200DL 1984G01018976 www.gailonline.com

A.R.&Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi -110075

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg, New Delhi - 110017

Independent Auditors' Report on the Quarterly and Year to date Consolidated Financial Results of GAIL (India) Limited Pursuant to the Regulation 33 of the SEBI (Listing obligation and Disclosure Requirements) Regulation 2015

The Board of Directors of GAIL (India) Ltd.

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying Statement of Consolidated Financial Results of GAIL (India) Limited (hereinafter referred to as "the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as the "Group"), its associates and jointly controlled entities for the quarter and year ended 3 p[t ] March 2021 ("the Statement") , being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations), including relevant circulars issued by SEBI from time to time.

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements / financial information of the subsidiaries, associates and jointly controlled entities, the aforesaid consolidated financial results:

1. include the annual financial results of the entities referred to in Annexure to the report

2. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

3. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of consolidated total comprehensive income (comprising of net profit and other comprehensive income) and March 2021.

other financial information for the quarter and year ended 31[st ]

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 ("Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group, its associates and jointly controlled entities in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and - e of Ethics. We believe that the audit evidence obtained by us and other auditors in terms t reports referred to in "Other Matter" paragraph below, is sufficient pria a as1s or our opm10n. b · fi · · R. & C N-002744 ·ed Acco\l

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi -110075

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg, New Delhi-110017

Emphasis of Matter

• (i) We draw attention to note No. 3 to the consolidated financial results regarding, various final transportation tariff orders issued by Petroleum and Natural Gas Regulatory Board (PNGRB), which have been contested by the Holding Company at Appellate Tribunal for Electricity (APTEL) and also certain customers have challenged these orders of PNGRB in Court of Law. Adjustment if any will be recognized as and when matter is finally decided.

• (ii) We draw attention to note No. 4 to the consolidated financial results regarding CEST AT 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, of Rs. 3,139.92 crores including applicable penalty and interest thereon. Considering the merits of the case, 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 considered the same as contingent liability.

• (iii) We draw attention to Note No.6 to the consolidated financial results regarding corporate guarantees given by the Holding Company on behalf of US subsidiary (� 535.41 Crore, against guarantee f s, towards meeting its obligation) and its Step down subsidiary (� 7274.74 crore for furtherance of Company business). In this regard, the Holding Company is of the view that no provision is required towards expected credit loss (ECL) on guarantees. The Holding Company has also sought opinion from Expert Advisory Committee (EAC) constituted by The Institute of Chartered Accountants of India on applicability of Ind AS 109 towards provisioning under ECL model.

• (iv) We draw attention to Note no 7 of the consolidated financial results regarding the impact of COVID -19 pandemic on the Holding Company. The impact of pandemic in future period cannot be ascertained as on date .However the Management is of view that there will be no significant impact on the continuity of operations of the business on long term basis/ on useful life of the assets/on financial position etc.

Our opinion is not modified in respect of matters mentioned in above paragraphs.

Management's Responsibilities for the Consolidated Financial Results

These Statements have been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group including its associates and �[-][s][-so][-c][--][, ][· tly controlled entities in accordance with the applicable accounting standards prescribed under ] [j ] ""'bt' on 13 3 of the Act read with relevant rules issued thereunder and other accounting principles �[C ][r][t][m][g] e[�] r Uy accepted in India and in compliance with Regulation 33 of the Listing Regulations.=Ihe - _,., ,.--. -=: Ace[I ] ta � p1 tive Board of Directors of the companies included in the Group and of its as~s�i-&' @-S and _ '-0 �

, - _,., @-S _ ~s�i-&' @-Ss�i-&' @-S�i-&' @-Si-&' @-S-&' @-S and '-0 FRN-002744C r.

· �.-�---� 'C�D=A��

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg, New Delhi -110017

A.R.&Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi - 110075

jointly controlled entities are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associates and jointly controlled entities and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Holding Company, as aforesaid.

In preparing the Statements, the respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible for assessing the ability of the Group and its associates and jointly controlled entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities is responsible for overseeing the financial reporting process of the Group and of its associates and jointly controlled entities.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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Obtain an understanding of internal control relevant to the audit in order to design audit .J procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, ;J,­ we are also responsible for expressing our opinion on whether the company has adequate ' �> , -�RN )."):r .,,- � -QG2744-C • ,"-f,[-:J1 ] -. l:' •2-1 I "'.()t.\t''-'-.,,,,

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi - 11007 5

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg, New Delhi - 110017

internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its associates and jointly controlled entities to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associates and jointly controlled entities to cease to continue as a gomg concern.

• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group and its associates and jointly controlled entities to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable

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� � 2744C !) / - �

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi -110075

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg, New Delhi -110017

Other Matters

1. The Statement include the audited Financial statements and other financial information of

2. a) 6 subsidiaries whose financial statements reflect Group's share of total assets of Rs. 8,843.35 crore as at 31 March 2021, Group's share of total revenue of Rs. 3,227.90 crore and Rs. 13,027.19 crore for the quarter and year ended 31 March 2021 respectively and Group's share of total net profit after tax (including other comprehensive income) of Rs. 174.90 crore and Rs. 122.36 crore for the quarter and year ended 31 March 2021 respectively and

3. b) 5 associates and 5 joint ventures whose financial statements reflect Group's share of net profit after tax (including other comprehensive income) of Rs. 253.12 crore and Rs. 799.33 crore for the quarter and year ended 31 March 2021 respectively.

which have been audited by their respective independent auditors. The independent auditors' reports on financial statements of these entities have been furnished to us and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.

1. The Statement include the unaudited Financial Results of 3 associates and 4 jointly controlled entities, whose Financial Statements / financial information reflect Group's share of total net profit after tax (including other comprehensive income) of Rs. 234.89 crore and Rs. 901.42 crore for the quarter and year ended 31[st ] March 2021, as considered in the Statement. These unaudited Financial Statements/ financial information have been furnished to us by the Board of Directors and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these associates and jointly controlled entities is based solely on such unaudited Financial Statements /financial information.

2. The consolidation of financial results of GAIL Global (USA) Inc. are done on the basis of review done by their auditor as on 31st March 2021, reflecting total asset of Rs. 1,292.20 Crore as at 31st March 2021, total revenue of Rs. 5,175.14 Crore and net cash outflow of Rs. 9 .44 Crore for the year ended on that date. These financial statements were last audited upto 31st December 2020.

3. Regarding inclusion of proportionate share in Jointly Controlled Operations in the consolidated financial results of the Holding company. The total proportionate share includes Assets of Rs. 1,058.45 Crore, Liabilities of Rs.112.72 Crore, Expenditure of Rs. 456.32 Crore, Income of Rs. 841.62 Crore along with the elements making up the Cash Flow Statement and related disclosures. The aforesaid amounts have been included based on the unaudited statements of these entities. Management is of view that this will not have a material impact on the consolidated financial results �� h=

«t��!' ter2d A�ggg._.•

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg, New Delhi - 110017

A.R.&Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi - 11007 5

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the Financial Results/financial information ce1tified by the Board of Directors.

The status of audited financial statements and unaudited management accounts mentioned above are based on information furnished to us till 2[nd ] June 2021. Cases where auditors of subsidiary, joint ventures and associates have not furnished their report till aforesaid date have been considered as unaudited.

The Statement include the results for the quarter ended 31 March 2021 and the corresponding quarter ended in the previous year as reported in these Consolidated financial results which are the balancing figure between the audited figures in respect of the full financial year and the published year to date figures up to the end of third quarter of the current and previous financial year respectively which were subject to limited review, as required under the Listing Regulations.

For ASA & Associates LLP Chartered Accountants Firm No.: 009571N/N500006

For A.R. & Co. Chartered Accountants Firm No.: 002744C

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R.&c RN-00274 red Acc[o ]

(P rveen Kumar) (Partner) Membership No.: 088810 UDIN :2108881 0AAAACB6822

(Pawan K Goel) (Partner) Membership No.:072209 UDIN: 21072209AAAABQ3886

Place: New Delhi Dated: 09[th ] June, 2021

A.R. & Co. Chartered Accountants A-403, Gayatri Apartment Airlines Group Housing Society Plot No 27, Sector -10, Dwarka New Delhi - 110075

ASA & Associates LLP Chartered Accountants 81/1, Third Floor, Adchini Aurobindo Marg, New Delhi - 110017

Annexure to Auditors' Report on Annual Consolidated Financial results of GAIL (India) Limited Pursuant to the Regulation 33 of the SEBI (Listing obligation and Disclosure Requirements) Regulation 2015

Sr.No.	Name of companies	Country Incorporation	of
A.	Subsidiaries
1	GAIL Global (Singapore) PTE Ltd	Singapore
2	GAIL Global (USA) Inc.	USA
3	GAIL GAS Limited	India
4	Tripura Natural Gas Co Ltd. (TGCL)	India
5	Bengal Gas Limited	India
6	Konkan LNG Limited	India
B.	Joint Ventures
1	Central UP Gas Limited	India
2	Green Gas Limited	India
3	Maharashtra Natural Gas Limited (MGL)	India
4	Aavantika Gas Limited	India
5	Bhagyanagar Gas Limited	India
6	Talcher Fertilizers Limited	India
7	Indradhanush Gas Grid Limited	India
8	Vadodara Gas Limited	India
9	T API Pipeline Company Limited	Isle of Man
C.	Associates
1	Indraprastha Gas Limited	India
2	Petronet LNG Limited	India
3	Mahanagar Gas Limited	India
4	ONGC Petro Additions Ltd (OPAL)	India
5	RamagundamFertilizersandChemicals Limited	India
6	Brahmaputra Cracker & Polymer Ltd	India
7	Fayum Gas Company	Egypt
8	China Gas Holding Limited	Bermuda

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GAIL (India) Limited New Delhi Statement of Consolidated Audited Financial Results fr the Quarter and Fin For th Sr, No. Particulars 31st 31s March 2021 Audited U	GAIL (India) Limited New Delhi Statement of Consolidated Audited Financial Results fr the Quarter and Fin For th Sr, No. Particulars 31st 31s March 2021 Audited U	GAIL (India) Limited New Delhi Statement of Consolidated Audited Financial Results fr the Quarter and Fin For th Sr, No. Particulars 31st 31s March 2021 Audited U	ancial Yea e Quarer Decembe 2020 naudited	ancial Yea e Quarer Decembe 2020 naudited	ancial Yea e Quarer Decembe 2020 naudited	r Ended 31st March 2021 ended r 31st March 2020 Audited For the Fina 31st March 202 Audited	r Ended 31st March 2021 ended r 31st March 2020 Audited For the Fina 31st March 202 Audited	r Ended 31st March 2021 ended r 31st March 2020 Audited For the Fina 31st March 202 Audited	r Ended 31st March 2021 ended r 31st March 2020 Audited For the Fina 31st March 202 Audited	{tin Crore Except EPSl ncial Year Ended 1 31st March 2020 Audited 6 72,576.98 0 1,537.15
I Income Revenue fom Operations Other Income Total Income 2Expenses Cost of Materials Consumed Purchase of Stock in trade Changes in Inventories of Finished Goods, Stock in Trade and Work in Progress Employee Beneft Expenses Finance Costs Depreciation and Amortization Expense Ecise Duty Other Expenses Total Expenses 3 Profit/ (Loss) befre share ofproft/(loss) of associate and Joint Ventures and tax (1·2) 4Share of Proft/ (Loss} of associates and Joint Ventures for the period 5Proft/(loss) before tax (3+4) 6Tax Expense: Current tax Adjustment of ta relating to earlier periods Deferred tax Total Tax Expenses 7 Net Profit/ (Loss) for the period (5-6) 8other Comprehensive Income (OCI) a) Items to be reclassifed to Proft or Loss in subsequent periods: {i)Exchange diferences on translation of freign operations Income tax effect thereon (ii) Net movement in cash fow hedge gain /(loss) Income tax efect thereon Net other comprehensive income to be reclassifed to Proft or Loss in subsequent periods (1+11) b) Items not to be reclassifed to Proft or Loss in subsequent periods: (i) Re-measurement gain /(oss) on defned beneft plans Income tax efec thereon {ii} Net gain/(loss} on FTOCI equit Securities Income tx efect thereon (iii)Share ofOther Comprehensive income in Associates/IVs fr the period Income tax effect thereon Net Other Comprehensive Income not to be reclassifed to Profit or Loss in subsequent perlods{i+ii+f If): Other Comprehensive Income for the period, net of tax (a+b) 9Total Comprehensive Income for the period (Proft and Loss and OCI), Net ofTax (7+8) Profit fr the period Attributable to: Equity holders of the parent Non-controlling interests	15,757.16 447.53		15,	68 21	0.6 9.2	2 3 17,938.08 955.56 57,428.2 1,120.2
	16,204.69 1,031.76 10,571.40 (308.54) 369.31 57.65 545.93		15, 1. 10,	89 08 55 3 43 3 56	9.8 3.6 2.6 9.1 1.7 7.4 0.9	5 9 8 9 5 0 1 18 893.64 985.82 12,733.13 (336.16) 364.54 215.62 639.89 58,548.4 3,905.8 39,379.1 440.2 1,645.8 179.2 2,173.8				6 74,114.13 8 4,411.97 3 52,878.13 0 (427,99) 9 1,592.32 7 3oa9- 2 2,080.16
	19.28 1,191.55		1,	1 31	7.0 1.7	3 4	15.29 1,333.53 56.3 4,757.0			5 59.28 5 S,028.98 9 65,931.79 7 8,182.34 8 2,246.60
	13,478.34 2,726.35 492.50		14, 1,8	03 65 48	4.3 .4 0.3	9 6 9 15,951.66 2,941.98 656.72
	3,218.85 683.05 46.65 (45.49)		2,3	45 45 (4 3	.8 7.0 0.3 2.1
	684.21		4	48	.81
	2,534.64 (122.22)		1 8	97 11	.04 5.3	9 4,813.88 14.62 14.62 6,142.82 52.72 S2.72				9,514.64 126.82
	(122.221		1	1S	.39					126.82
	396.58 [70.571		(	19 4	0.5 7.9	9) 7	383.04 [131.661 251.38 134.2 (4.53 129.67			0 22.34 1 (5.621
	326.01 203.79		(1 (	42 27	.62 ,23	]				16.72
						)	266.00 182.39			143.S4
	53.65 (13.49) 40.16 364.31 (2,691			(	4.13 1.03	) (54.18) 17.47 41.27 (I0.38				(14.96) ) 3.76 (11.20}
				13 78	.10 9.1	1 136.71) 30.89
						9 (1,857.17		) 1,124.53 (2.69		(2,805.46) 1 (2,805.46} ) (59.77)
	361.62 (0.03) (0.031 401.75 605.54		7	89	.19	fl,857.17		1 1,121.84
			8 8	6 68	8.11	73.88		(9.17
					.11	73.88		f9,17		1 159.771 (2,876.43) (2,732.89} 6,781.75 9,514.64 9.422.05 92.59
				54 26	.20 .97	(1,820.00 [1,554.00		) 1 1,143.56 1,325.95 7,468.77 6,142.82 6,136.35 6.47
	3,140.18 2,534.64 2,486.62 48.02		2,7 1,8 1,	24 97 88 13	.01 .04 3.61 .43	3,259.88 4,813.88 4,728.37 85.51
Other comprehensive Income fr the period Attributable to: Equity holders of the parent Non-cntrolling interests Total Comprehensive Income for the period Attributable to: Equity holders of the parent Non-controlling interests 10Paid-up Equit Share Capital {fce value on 10 each} 11Reseres excluding Revaluaton Resere as per Balance Sheet 12Earnings per share (in=)(Face value of HO each).RefNote No. S a) Basic, attributable to equity holders of the parent b) Diluted, attributable to equity holders of the parent ItEPS for the Quarter not annualisedl	60S.54 605.54 3,140.18 3,092.16 48.02		8 2,7 2,	26 826 24 710 13	.97 .97	(1,554.00 (1,554.01 0.01 3,259.88 3,174.36 85.52		) ) 1,325.95 1.325.95		(2,732.89) (2,732.90) 0.01
					.01 .58 .43				7,468.77 7,462.30 6.47	6,781.75 6,689.15 92.60 4,510.14 42,888.15 20.89 20.89
	4,440.39 5.52 5.52		4,5	10 4 4	.14 .18 .18	4,510.14 10.48 10.48			4,440.39 42,792.37 13.61 13.61

11tere 1s no d1scon1mued operation durmg the period

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GAIL (India) Limited New Delhi

Consolidated Segment wise Revenue, Results, Assets and Liabilities for the Quarter and Financial Year Ended 31st March 2021

			For the Quarter ended	For the Quarter ended		For the Financial Year Ended	For the Financial Year Ended
Sr. No.	Partculars	31st March 2021	31st December 2020	31st	March 2020	31st March 2021	31st March 2020
		Audited	Unaudited		Audited	Audited	Audited
1	Segment Revenue#
	A. Transmission Serices
	I) Natural Gas	1,531.00	1,613.51		1,554.20	5,952.59	6,034.43
	11) LPG	168.90	175.35		171.86	667.26	636.41
	B. Natural Gas Marketing	13,887.55	14,882.74		18,478.72	52,736.35	71,211.96
	C. Petrochemicals	2,217.86	1,936.62		1,217.39	7,060.89	5,432.13
	D. LPG And Liquid Hydrocarbons	865.06	877.86		1,153.91	3,293.87	4,233.71
	E. City Gas	1,362.78	1,117.21		1,483.57	4,218.12	5,316.72
	F. Other Segment•	216.46	236.80		263.62	901.02	1,060.90
	G. Unallocated	0.27	0.26		6.16	0.78	9.38
	Total	20,249.88	20 840.35		24 329.43	74 830.88	93,935.64
	Less : Inter- Segment Revenue	4,492.72	5,159.73		6,391.35	17,402.62	21,358.66
	Sales / Income from Ooerations	15,757.16	15 680.62		17 938.08	57 428.26	72,576.98
2	Segment Results
	(Proft/(Loss) before Interest and Tax)
	A. Transmission Serices
	I) Natural Gas	949.45	990.65		892.03	3,677.93	3,539.77
	11) LPG	88.52	93.14		94.51	351.38	330.91
	B. Natural Gas Marketing	671.21	(157.94)		1,075.56	( 435.34)	2,638.47
	C. Petrochemicals	608.90	434.08		72.36	1,064.86	(245.50)
	D. LPG And Liquid Hydrocarbons	474.36	282.74		528.14	1,303.45	1,580.62
	E. City Gas	89.80	90.47		55.25	252.20	221.43
	F Other Segment• Total Proft befre Interest and Tax	57.87 2 940.11	102.99 1836.13		88.08 2 805.93	383.16 6,597.64	561.93 8,627.63
	Add/ (Less) :(i) Other Un-allocable
	expenditure net of Unallocable Income	336.39	547.12		1,008.39	1,307.08	2,110.25
	(ii) Finance Cost	(57.65)	(37.40)		(215.62)	(179.27)	(308.94)
	Total Profit before Tax	3,218.85	**2 345.8.5 **		3 598.70	7 725.45	10 428.94
3	Segment Assets
	A. Natural Gas Transmission / Marketing	48,457.08	46,631.29		45,694.95	48,457.08	45,694.95
	B. LPG Transmission	1,089.94	1,082.35		1,086.26	1,089.94	1,086.26
	C. Petrochemicals	9,664.95	9,626.06		10,001.13	9,664.95	10,001.13
	D. LPG And Liquid Hydrocarbons	926.55	889.55		963.46	926.55	963.46
	E. City Gas	4,284.92	3,958.40		3,449.86	4,284.92	3,449.86
	F. Other Segment•	1,592.95	1,528.23		1,637.10	1,592.95	1,637.10
	G. Un Allocated	15,368.57	15,475.36		12,081.42	15,368.57	12,081.42
	Total Assets	81 384.96	79191.24		74,914.18	81 384.96	74 914.18
4	Segment Liabilities
	A. Natural Gas Transmission/ Marketing	12,827.10	11,887.85		10,805.37	12,827.10	10,805.37
	B. LPG Transmission	131.89	126.03		123.96	131.89	123.96
	C. Petrochemicals	555.54	506.25		466.16	555.54	466.16
	D. LPG And Liquid Hydrocarbons	173.50	170.09		162.04	173.50	162.04
	E. City Gas	846.92	748.22		688.81	846.92	688.81
	F. Other Segment•	160.67	131.47		192.93	160.67	192.93
	G. Un Allocated	13,409.51	11,955.47		13,119.62	13,409.51	13,119.62
	Total Liabilities	28,105.13	25 525.38		25,558.89	28 105.13	25,558.89

# Segment Revenue includes Other Operating Income *Other Segment includes GAIL Tel, E&P & Power Generation

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GAIL (India) Limited New Delhi

Consolidated Statement of Assets and Liabilities as at 31st March 2021

Particulars 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 accounted as per Equity Method -Other Investments -Trade Receivables -Loans & Other Receivables -Others 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 -Other Bank Balances -Loans & Other Receivables -Others Financial Assets c) Other Current Assets Total Current Assets Total Assets EQUIT AND LIABILITIES EQUIT a) Equity Share Capital b) Other Equity c) Non - Controlling Interest 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 Liabilities d) Provisions Total Current Liabilities	As at 31st March 2021 (Audited) As at 31st March 202 0 (Audited)	As at 31st March 2021 (Audited) As at 31st March 202 0 (Audited)	As at 31st March 2021 (Audited) As at 31st March 202 0 (Audited)
	37,952.80 13,399.66 2,300.68 906.86 9,042.74 3,546.52 1,093.47 390.36 356.12 413.57 1,114.95 35,896.60 11,666.31 1,880.36 452.66 7,331.43 2,561.52 1,029.99 556.12 113.97 676.47 1,091.86
	7 0,517 .73 2,989.73 468.48 3,501.50 1,506.59 518.05 685.67 487.19 710.02 63,257.2 9 3,183.01 4,818.31 624.13 626.04 720.31 766.26 918.83
	10 86 7.23		11,656. 89
	81384.96 4,440.39 48,741.95 7 4914.18 4,510.14 44,758.11
	97.49 53,279,83 5,237.40 453.34 689.72 557.02 345.16 4,088.46 4,181.70 15,552.80 1,522.90 213.91 241.26 4,211.92 4,271.61 764.54 497.48 828.71 12552.33 87.04 49355.29 3,773.40 92.49 871.12 538.51 245.81 4,039.19 3,522.22 13,082.74 2,564.20 166.10 271.82 3,650.36 3,866.71 604.69 577.11 775.16 12,476.15
		12,476.15
Total E1uitv and Liabilities	8138496	74914.18

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GAIL {India) Limited New Deihl

Consolidated Statement of Cash Flows For the Financial Vear Ended 31st March 2021

Particulars A) CASH FLOW FROM OPERATING ACTIVITIES 1 Proft Before Tax 2 Adjusments Fr: Depreciation and amortsaton expenses ExchanJe Rate Variaton on ForeiR Currency Lan/Advance Finance Cost Dividend Income on Investments Intrest Income [Profit)/ Loss on Sale of Investent MTM (Rai11)/loss 011 Mutual fund Investent Re measurement Rain/loss on defined beneft plans Provision fr Employees Benefts Provision for Probable ObliRatons Provision fr Doubtul Debt Other Provsions Amortzaton of Goverment Grant Amortzation of Financial Guarent Obtiiation fProfit) / Loss on Sale of Asset (Net) Provision fr Impairment Loss/ CWIP MTM loss on Commodity Derivatve {Net) Dry Well Expenses written off Share of Proft/Loss of joint ventures Subtotl f2l 3 Oneratlno Prent Before WorklnP Canltal Chan"cs ft+Zl		For the Financial Year Ended 31s March 2021 31st March Audited Audite 7,725.45 2,173.82 (22.47) 179.27 (89.37) (433.79) (9.07) (0.42) 32.10 8.79 62.82 (112.05) 0.60 (46,01) (4.14) 5.51 (70.57) 184.84 3.70 (1,714.58) 148,98 7,874.43	For the Financial Year Ended 31s March 2021 31st March Audited Audite 7,725.45 2,173.82 (22.47) 179.27 (89.37) (433.79) (9.07) (0.42) 32.10 8.79 62.82 (112.05) 0.60 (46,01) (4.14) 5.51 (70.57) 184.84 3.70 (1,714.58) 148,98 7,874.43	For the Financial Year Ended 31s March 2021 31st March Audited Audite 7,725.45 2,173.82 (22.47) 179.27 (89.37) (433.79) (9.07) (0.42) 32.10 8.79 62.82 (112.05) 0.60 (46,01) (4.14) 5.51 (70.57) 184.84 3.70 (1,714.58) 148,98 7,874.43	2020 d 10,428.94 2,080.16 37.01 308.94 (219.39) (334.43) (28.52) (74.73) (141.46) (3.04) 56.00 15.60 (42B8) (0.09) 113.01 (198.94) (2,246.60) {679.36)
					9,749.58 264.38 (681.00) 1,590.15 1,173.53
4 Chanees In Worklnl Capital [Excludlne Cash and Cash Equivalent) Trade and Oter Receivables Inventories Trade and Other Payable Chanees In Worklne Cauital (Excludina Cash and Cash Eauivalentsl S Cash Generated from Operations (3+41		1,942.11 192.37 286.49 2,420.97 10,295.40
					10,923.11
6 Direct Taxes Paid Net Cash now from OneratinP Activities fS+61 Bl CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Asset/ CWIP		{1,302.00 8,993.40 (5,697.21	) )		(2,577.751 8,345.36 (9,262.94)
Sale of Fixed Assets Receipt of Government Grant (Capitl Grant) Investment in Mutal Funds Sale of Mutual Fund Investment in Other Companies Loans & Advances - Related Parties {Net) Interest Received Divdend Received on Investent Net Cash now from lnvestine Activities Cl CASH FLOW FROM FINANCING ACTIVITIES Repayment of BorrowinRs BorrowinRs durinR the period		13.24 727.94			27.53 1,012.65
		(8,733.01 8,274.02 128.22 68.83 435.56 89.37	)		(19,591.99) 19,620.51 217,39 (25.96) 338.78 219.39
		(4,693,041			(7,444.641
		(3,349.49 3,924.42	)		(279,09) 4,672.20
Chan�es in Non Contollin� Interest Lease Liabilites Paid Buyback of Shares Dividend&Dividend Tax Paid Finance Cost Paid		(176.58 (1,280.97 (2,238.06 (349.94	) ) )		252.12 (77.62) (3,960.56) (325.831
Net Cash Flow from Financimz Activities		(3,470.62	1		281.22
		829.74
Net Increase in Cash and Cash EQuivalents fA+B+Cl Cash and Cash equivalent at te openinR of the period Effects of exchanRe rate chan�es on the balance of Cash and Cash Equivalents Cash and Cash enuivalent at te closino of the neriod					1,181.94
		624.13 52.72 1,506.59			296.63 (854.44) 624.13

1. Stilement of Cash Flows has been prepared using Indirect Method as per Ind AS 7 Statement of Cash Flows

2. Previous period figures have been regrouped whereever necessary to correspond with current period classification/disclosure

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. R. & C N-002744 red Accou

Notes to Consolidated Financial Results

1. The above audited Consolidated Financial Results were reviewed and recommended by the Audit Committee and approved by the Board of Directors of the parent Company in its meetings held on 9[th ] June 2021.

2. The Consolidated Financial Results have been audited by the Statutory Auditors as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

3. The Parent Company has filed appeals before Appellate Tribunal (APTEL), against various moderation done by PNGRB in respect of six numbers of final tariff order(s) issued by PNGRB and also certain customers have challenged some of the Tariff orders of PNGRB in Court of Law. Adjustment on account of revision, if any will be recognized as and when the matter is finally decided.

4. CESTAT, Delhi vide order dated 30.11.2018 has confirmed the demand of differential Central Excise duty of� 3,139.92 crore (Previous year: � 3,014.32 crore) including penalty and interest in respect of an appeal filed by the Excise Department. Considering the merits of the case, the Parent Company has filed an appeal before the Honorable 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. Pursuant to the approval of Board of Directors for buyback of equity shares in its meeting held on 15[th ] January 2021, the Parent Company has bought back 6,97,56,641 fully paid up equity shares of face value of { 10 each (representing 1.55% the total number of fully paid up equity shares in the paid-up share capital of the Company) for an aggregate amount of { 1,046.35 crore (excluding taxes) at { 150 per equity share. The settlement of all valid bids were completed on 19[th ] March 2021 and the equity shares bought back were extinguished on 22[nd ] March 2021. Further, earnings per share has been adjusted on account of buy back of shares.

6. The Parent Company has issued Corporate Guarantees on behalf of US subsidiary ({ 535.41 Crore, against guarantee f s, towards meeting its obligation) and its Step down subsidiary ({ 7274.73 crore for furtherance of Parent Company business). As per the provisions of Ind AS 109, The Parent Company has disclosed the issued guarantees in its Notes to Account and is of the view that no provision required towards expected credit loss (ECL) on guarantees. However, the Parent Company has sought opinion from Expert Advisory Committee constituted by The Institute of Chartered Accountants of India on dated 09[th ] June 2021,on applicability of Ind AS 109 towards provisioning under ECL model.

7. COVID-19 pandemic, globally and in India, is causing significant disturbance in economic and business activities. It has also temporarily impacted the business activities of the Parent Company. However, the Parent Company has achieved pre-covid operational level of operations. The Parent Company has assessed the potential impact of COVID-19 based on the current circumstances and / on

expects no significant impact on the continuity of operations of the business on long te1m basis I

useful life of the assets on financial position etc.

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__ ....._---.;,;;: *A· R. & Co FRN-002744C red Acco.*

1. During the year, the Parent Company has executed separate share purchase agreement with NTPC Limited ('NTPC') for sale of Parent Company's 25.51 % Equity stake in Ratnagiri Gas and Power Private Limited ('RGPPL') to NTPC and acquisition of NTPC's 20.22% Equity stake in Konkan LNG Limited ('KLL') by Parent Company, pursuant to which, Parent Company has exited from RGPPL and NTPC has exited from KLL.

2. The Parent Company has maintained required asset cover as per terms of offer document/ Information Memorandum and/ or Debenture Trust Deed, including compliance with all covenants, in respect of its own listed non-convertible debt securities.

3. The Consolidated Financial Statements for the financial year ended 3 p[t ] March 2021 are subject to review by the Comptroller and Auditor General oflndia u/s 143 (6) of the Companies Act, 2013.

4. Previous period figures have been regrouped/ reclassified, wherever required.

Place: New Delhi Date: 9[th ] June 2021

For GAIL (India) Limited �+kl- (A. K. Tiwari) Director (Finance) (DIN: 07654612)

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DISCLOSURE IN ACCORDANCE WITH REGULATION 52(4) AND REGULATION 54(2) OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATION, 2015

1. Credit Rating in respect of Secured Taxable Redeemable Non-Convertible Bonds are as under :

Bond Series INR Bond Series I - 2015	Rating	Rating Agencies
	AAA	CARE, India Rating

1. Asset cover available : Bonds are secured by way of first pari passu charge on the fixed and/or current assets of the Company with minimum security cover of 1.10 times.

3. Debt Equity Ratio : 0.14:1

1. Previous due date for the payment of interest/principal: The Company has paid the interest on due date. Details of Previous due date for the payment of interest/principal are as under:

~~s~~ no	Particulars	Particulars	INR Bond Series I - 2015
1	Interest	Previous due date	23rdFebruary, 2021
		Previous date of payment #	23rdFebruary, 2021
2	Principal		Not Applicable

In line with "effect of holiday" clause of information memorandum

1. Next due date for the payment of interest/principal :

S. No.	Particulars	INR Bond Series I - 2015
1	Interest	23rdFebruary, 2022
2	Principal	23rdFebruary, 2022

1. Debt Service Coverage Ratio * : 14.10

2. Interest Service Coverage Ratio ** : 19.73

3. Outstanding Redeemable Preference Shares : Nil

4. Bond Redemption Reserve : Rs 104.77 Crore

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1. Net Worth: Rs 43,378.71 Crore

2. Net Profit after Tax : Rs 4,890.18 Crore

3. Earnings Per Share: Rs. 10.85

4. The extent and nature of security created and maintained with respect to secured listed non­ convertible debt securities: INR Bond Series I - 2015 is secured on pari passu basis, by charge on freehold non-agricultural land at village Tandalja, Vadodra together with the entire building constructed thereon both present & future and the whole of the plant and machinery, spares, tools and accessories and other movables of the company pertaining to its projects at Vijaipur Dadri Pipeline Projects excluding the compressor stations at Vijapur both present and future and whether installed or not and lying or in store.

5. Debt Service Coverage Ratio (DSCR) - Earning Before Interest & Tax / (Interest Expense+

6. Scheduled Principal Repayment).

7. ** Interest Service Coverage Ratio (ISCR) - Earning Before Interest & Tax/ Interest Expense.

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