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Indraprastha Gas Ltd

₹ 187-1.73%
07 Jan – close price
🔗iglonline.net•BSE: 532514•NSE: IGL
Market Cap₹ 26,173 Cr.
Current Price₹ 187
High / Low₹ 229
Stock P/E19.2
Book Value₹ 70.0
Dividend Yield2.27 %
ROCE20.8 %
ROE15.7 %
Face Value₹ 2.00
Sales₹ 15,644 Cr.
OPM11.6 %
Mar Cap₹ 26,173 Cr.

ABOUT

Incorporated in the year 1998, Indraprastha Gas Limited (IGL) is in the business of city gas distribution in the National Capital Territory of Delhi. IGL also supplies the gas to the near by regions of Noida, Greater Noida, Ghaziabad, Hapur, Gurugram, Meerut, Shamli, Kanpur, Muzaffarnagar, Karnal and Rewari, Hamirpur, Fatehpur, Ajmer, Pali, Rajasmand.IGL is formed as a JV promoted by GAIL (India) Limited and Bharat Petroleum Corporation (BPCL). Government of NCT of Delhi is holding 5% equity.[1]

KEY POINTS

Leading player in City Gas Distribution[1]IGL has operations in the NCT of Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Karnal, Kaithal, Kanpur, Muzaffarnagar, Ajmer, and Banda with819 CNG stations, 25.60 lacs residential connections, and ~10,000 industrial/commercial customers.

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsAsset Base ExpansionCapacity Expansion And ProductsJv Partnerships AcquisitionsJv Partnerships AcquisitionsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Adani Total Gas571.50100.5262898.260.04163.49-11.911451.2619.0917.475465.5620.48625.70163.4913.949.190.45
2.Petronet LNG294.3512.0444182.423.40830.30-4.6311009.13-15.4725.3947431.6010.623668.78830.302.0914.920.12
3.Gujarat Gas433.1526.7329834.661.34279.81-9.373780.40-0.0419.5015906.1911.301116.32279.813.439.490.02
4.Indraprastha Gas187.0819.2026173.362.27372.51-13.594023.338.8220.8015643.6111.581363.50372.512.6710.240.01
5.Mahanagar Gas1061.6010.5910485.272.83193.37-32.572049.3314.7322.897753.1419.75990.49193.371.6912.670.03
6.Confidence Petro36.2712.881210.040.2820.4114.60983.0131.819.333717.089.0593.9620.330.883.820.60
7.IRM Energy281.3028.181157.270.5312.665.41259.4412.068.261040.558.8641.0712.661.193.370.08
–Median: 8 Co.287.8322.9618329.321.81178.43-10.641750.310.4418.486609.3510.96808.1178.431.899.340.1

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
3,7113,5563,7593,4073,5173,9143,6823,5973,9473,5543,4593,6974,023
Expenses
3,2822,9923,3952,7652,9393,4023,2213,0743,4533,0262,8023,1613,580
Operating Profit
428564364642578512461523494528657536443
Other Income
56551294677907110994110134149163
Profit before tax
389516369587538476435519466543686565475
Tax %
28%24%22%25%25%25%24%26%25%23%22%24%22%
Net Profit
278392286438401356330383349416535431373
EPS in Rs
1.992.802.043.132.872.542.362.732.492.973.823.082.66

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
3,9143,6813,6863,8154,5355,7656,4854,9417,71014,13314,00014,92815,644
Expenses
3,1312,8872,9102,8513,4104,5064,9493,4465,81612,08911,61512,93313,831
Operating Profit
7837947759641,1251,2591,5361,4951,8942,0442,3851,9951,812
Other Income
2134296590144152149213274363442475
Interest
4530101222022252728259
Depreciation
220149156167181201252290317363414474493
Profit before tax
5406496388611,0321,2001,4161,3311,7661,9282,3071,9371,786
Net Profit
3604384195716717871,1371,0061,3151,4451,7481,4681,364
EPS in Rs
2.573.132.994.084.795.628.127.189.3910.3212.4910.489.73
Dividend Payout %
21%19%20%21%21%21%17%25%29%63%36%67%–

Compounded Profit Growth

10 Years:12%
5 Years:5%
3 Years:3%
TTM:-15%

Compounded Sales Growth

10 Years:15%
5 Years:18%
3 Years:25%
TTM:9%

Return on Equity

10 Years:19%
5 Years:19%
3 Years:19%
Last Year:16%

Stock Price CAGR

10 Years:13%
5 Years:-7%
3 Years:-4%
1 Year:-13%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
140140140140140140140140140140140280280
Reserves
1,6231,9582,3762,7873,3733,9904,9225,7326,7966,9478,4129,0049,522
Borrowings
35214500009611310883816962
Other Liabilities
7398338681,1641,4191,8232,0172,6063,4134,6144,4924,8445,399
Total Liabilities
2,8553,0763,3844,0914,9325,9537,1768,59110,45711,78313,12514,19715,263
Fixed Assets
1,8951,9562,0192,1172,4322,8773,5574,3215,0025,7346,5997,1717,493
Gross Block
2,973.253,176.132,147.422,399.622,888.583,518.414,414.315,397.726,340.127,388.928,767.859,795.66–
Accumulated Depreciation
1,078.001,220.32128.23282.47456.55641.56857.411,076.851,338.381,655.382,168.942,624.78–
CWIP
2622542673523864787778471,3791,4341,3961,4861,636
Investments
1172912596771,1481,5442581,8261,9766771,1581,6222,066
Other Assets
5805758399459661,0542,5841,5982,1013,9393,9723,9194,068
Total Assets
2,8553,0763,3844,0914,9325,9537,1768,59110,45711,78313,12514,19715,263

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
6486646539468791,1571,3611,5461,8982,2311,5362,205
Cash from Investing Activity
-300-364-175-1,114-717-1,121-521-1,826-1,585-841-1,095-1,507
Cash from Financing Activity
-241-327-256-160-84-169-243-297-328-1,359-334-775
Net Cash Flow
106-27223-32878-133597-577-1531107-77

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
202325191814101925232717
Inventory Days
67101086584222
Days Payable
263026485035226965323731
Cash Conversion Cycle
019-19-23-15-7-41-37-6-8-12
Working Capital Days
-35-36-32-62-67-75-83-144-115-79-72-80
ROCE %
29%31%27%32%31%29%29%24%26%27%29%21%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
45.00%45.00%45.00%45.00%45.00%45.00%45.00%45.00%45.00%45.00%45.00%45.00%
FIIs
21.76%21.27%21.94%20.94%17.91%16.81%16.16%19.29%14.32%14.67%16.82%17.21%
DIIs
19.53%20.28%20.17%21.06%22.74%24.22%25.10%23.18%26.12%26.18%23.99%24.08%
Public
8.53%8.27%7.72%7.83%9.36%8.96%8.74%7.53%9.55%9.15%9.19%8.71%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Indraprastha Gas Shareholders Approve Related Party Transactions

1st April 2026, 9:21 pm

Indraprastha Gas Appoints Subhankar Sen as New Chairman Effective April 1, 2026

1st April 2026, 2:18 am

Indraprastha Gas to Close Trading Window from April 1 for Financial Results

27th March 2026, 8:40 pm

Indraprastha Gas Limited Seeks Shareholder Approval for Material Related Party Transactions with GAIL and BPCL

20th February 2026, 5:22 pm

Indraprastha Gas Limited (IGL) Announces Postal Ballot Results for Director Re-appointment

19th February 2026, 8:39 pm

Published by Other Websites

External media mentions & references

India Turns LPG Crisis into Piped Gas Expansion Drive

2nd April 2026, 11:12 am

Nomura: ATF, LPG Hikes Squeeze Indian Oil Firm Margins

2nd April 2026, 9:50 am

India Defies $120 Oil Surge: Fuel Prices Steady After Tax Cut

30th March 2026, 12:00 pm

India Forces LPG Surrender: 6,000 PNG Users Switch Amid War

29th March 2026, 7:53 pm

Noida Airport's ₹11,200 Crore Launch: Delhi's New Aviation Hub Takes Flight

27th March 2026, 1:51 pm

News Articles

Editorial & research coverage

Corporate Action Surge: 50+ Firms Eye Shareholder Payouts Amid Market Wobble
Corporate Action Surge: 50+ Firms Eye Shareholder Payouts Amid Market Wobble

13th February 2026, 1:31 pm

AI Fears Trigger IT Sell-off Amidst Mixed Q3 Earnings
AI Fears Trigger IT Sell-off Amidst Mixed Q3 Earnings

13th February 2026, 8:51 am

India's Q3 Earnings Climax: Sectoral Divergence Signals Market Shift
India's Q3 Earnings Climax: Sectoral Divergence Signals Market Shift

13th February 2026, 8:17 am

Crude Surge Squeezes OMC Margins, Nifty Oil & Gas Dips
Crude Surge Squeezes OMC Margins, Nifty Oil & Gas Dips

12th February 2026, 3:00 pm

Budget Day Sparks India Market Focus Amidst Sector Bets
Budget Day Sparks India Market Focus Amidst Sector Bets

1st February 2026, 6:53 am

Documents

Announcements

Closure of Trading Window
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements

19 Dec - IGL forms 50:50 JV with Hindustan Waste Treatment to set up CBG/biofuel plants on Dec 19, 2025.

Announcement under Regulation 30 (LODR)-Change in Directorate

5 Dec 2025 - IGL reappoints Dr. Shyam Agrawal as independent director for one year from Dec 6, 2025 (subject to shareholder approval).

Intimation Under Regulation 30-Joint Venture Agreement

25 Nov 2025 - 25 Nov 2025: IGL forms 50:50 JV with CEID to set up CBG/biofuel plants.

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from web)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

20 Aug 2025 from care

Rating update

12 Nov 2024 from care

Rating update

12 Sep 2023 from care

Rating update

14 Sep 2022 from care

Rating update

30 Sep 2021 from care

Rating update

15 Sep 2021 from icra

Concalls

Nov 2025

TranscriptRecording

Jul 2025

Transcript

Apr 2025

TranscriptRecording

Jan 2025

Transcript

Oct 2024

Transcript

Jul 2024

TranscriptPPT

May 2024

TranscriptPPT

Jan 2024

TranscriptPPTRecording

Nov 2023

Transcript

Jul 2023

Transcript

May 2023

TranscriptPPT

Jan 2023

Transcript

Oct 2022

PPT

May 2022

PPT

Feb 2022

PPT

Nov 2021

PPT

Feb 2018

PPT

Nov 2017

PPT

Nov 2016

PPT

Stock Analysis

Description

  1. Indraprastha Gas Limited (IGL) is a city gas distribution company operating in the National Capital Territory of Delhi and surrounding regions. It is a joint venture promoted by GAIL (India) Limited and Bharat Petroleum Corporation (BPCL), with the Government of NCT of Delhi holding a 5% equity stake.

Key Growth Triggers

  1. Leading player in City Gas Distribution.
  2. Operations span Delhi NCR and other regions including Noida, Ghaziabad, Kanpur, and Ajmer.
  3. Network includes 819 CNG stations, serving approximately 25.60 lac residential connections and around 10,000 industrial/commercial customers.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Currently no data available for Key Red Flags.

Key Dates To Watch

  1. Cut-off Date for voting eligibility: Friday, January 09, 2026.
  2. Remote e-voting period: Tuesday, January 20, 2026 to Wednesday, February 18, 2026.
  3. Postal Ballot results announcement: On or before Friday, February 20, 2026.

Corporate Announcements

1st Apr 26
Impact Rating: 8
Indraprastha Gas Limited's shareholders have given their approval for material related party transactions with GAIL (India) Limited and Bharat Petroleum Corporation Limited through e-voting.
31st Mar 26
Impact Rating: 7
IGL's Board approved the appointment of Shri Subhankar Sen as the new Chairman, effective April 1, 2026. Shri Raj Kumar Dubey will cease his role on the same date.
27th Mar 26
Impact Rating: 6
Shareholders are advised that Indraprastha Gas Limited's trading window will be shut from April 1, 2026. This closure remains effective until 48 hours after the company publicly releases its audited financial results for the year ending March 31, 2026.
20th Feb 26
Impact Rating: 7
IGL has announced a postal ballot process to obtain shareholder consent for significant material related party transactions, including ₹17,732 Cr with GAIL and ₹3,968 Cr with BPCL for FY 2026-27, impacting its governance and future operations.
19th Feb 26
Impact Rating: 3
Indraprastha Gas Limited (IGL) announced that shareholders have approved a special resolution for the re-appointment of Dr. Shyam Agrawal as an Independent Director through postal ballot voting.