Whalesbook
Indian city gas operators are set for an 8–12% operating profit recovery in the current fiscal, reaching Rs 7.2–7.5 per scm. This rebound is driven by a strategic shift from expensive spot market gas to more secure long-term contracts for domestic, HPHT, and imported R-LNG. While operating costs are rising, steady realisations and healthy volume growth are expected to boost cash accruals, although risks like future APM cuts and geopolitical events remain.