LPG prices have seen a declining trend over the last couple of months. This will have an impact on Gail's LPG/liquid hydrocarbon (LLH) business. We lower LPG/LLH realisations from | 35,000 in Q1FY20E to | 32,100 per tonne from Q2FY20E to factor in the recent decline in LPG prices in global markets. Subsequently, we expect LPG/LLH segment EBIT at | 1860.2 crore and | 1788.2 crore for FY20E and FY21E, respectively. This is expected to result in a reduction in standalone earnings estimate for Gail by ~5% to | 11.7 per...