Indraprastha Gas Ltd

Indraprastha Gas Ltd

₹ 431 1.26%
28 Mar - close price
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
Indraprastha Gas Limited (IGL) is one of the pioneer and leading City Gas Distribution (CGD) company in India catering to more than 1.1 million CNG vehicles,1.4 million domestic PNG customers and over 5,500 commercial & industrial customers. It achieved a new milestone of setting up 550th CNG station in FY 2019-20. [1] [2]

  • Market Cap 30,156 Cr.
  • Current Price 431
  • High / Low 516 / 376
  • Stock P/E 17.8
  • Book Value 115
  • Dividend Yield 3.02 %
  • ROCE 26.7 %
  • ROE 20.0 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.02%.
  • Company has been maintaining a healthy dividend payout of 39.1%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Gas Distribution Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,446 1,551 1,257 1,831 2,215 2,406 3,194 3,554 3,711 3,687 3,407 3,459 3,556
945 1,059 877 1,301 1,746 1,905 2,576 3,026 3,282 3,221 2,765 2,802 2,992
Operating Profit 501 492 381 530 470 500 618 528 428 466 642 657 564
OPM % 35% 32% 30% 29% 21% 21% 19% 15% 12% 13% 19% 19% 16%
26 28 30 77 30 77 31 110 56 65 46 134 55
Interest 3 4 3 3 3 5 2 3 3 3 2 2 2
Depreciation 75 76 78 80 84 75 86 91 92 94 99 102 102
Profit before tax 449 440 330 525 414 498 560 543 389 435 587 686 516
Tax % 25% 25% 26% 24% 25% 27% 25% 23% 28% 24% 25% 22% 24%
335 331 244 401 309 362 421 416 278 330 438 535 392
EPS in Rs 4.78 4.73 3.49 5.72 4.41 5.17 6.01 5.94 3.98 4.71 6.26 7.64 5.60
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,517 3,367 3,914 3,681 3,686 3,815 4,535 5,765 6,485 4,941 7,710 14,146 14,109
1,883 2,603 3,131 2,887 2,910 2,851 3,410 4,506 4,949 3,446 5,816 12,088 11,779
Operating Profit 634 764 783 794 775 964 1,125 1,259 1,536 1,495 1,894 2,058 2,330
OPM % 25% 23% 20% 22% 21% 25% 25% 22% 24% 30% 25% 15% 17%
8 12 21 34 29 65 90 144 152 149 213 260 300
Interest 49 61 45 30 10 1 2 2 20 22 25 27 9
Depreciation 143 187 220 149 156 167 181 201 252 290 317 363 397
Profit before tax 450 528 540 649 638 861 1,032 1,200 1,416 1,331 1,766 1,928 2,224
Tax % 32% 33% 33% 33% 34% 34% 35% 34% 20% 24% 26% 25%
306 354 360 438 419 571 671 787 1,137 1,006 1,315 1,445 1,695
EPS in Rs 4.38 5.06 5.15 6.25 5.99 8.16 9.58 11.24 16.24 14.37 18.78 20.64 24.21
Dividend Payout % 23% 22% 21% 19% 20% 21% 21% 21% 17% 25% 29% 63%
Compounded Sales Growth
10 Years: 15%
5 Years: 26%
3 Years: 30%
TTM: 10%
Compounded Profit Growth
10 Years: 15%
5 Years: 17%
3 Years: 9%
TTM: 15%
Stock Price CAGR
10 Years: 22%
5 Years: 7%
3 Years: -6%
1 Year: -2%
Return on Equity
10 Years: 20%
5 Years: 20%
3 Years: 19%
Last Year: 20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 140 140 140 140 140 140 140 140 140 140 140 140 140
Reserves 1,089 1,353 1,623 1,958 2,376 2,787 3,373 3,990 4,922 5,732 6,796 6,947 7,920
539 458 352 145 0 0 0 0 96 113 108 83 84
557 682 739 833 868 1,164 1,419 1,823 2,017 2,606 3,413 4,611 4,306
Total Liabilities 2,325 2,634 2,855 3,076 3,384 4,091 4,932 5,953 7,176 8,591 10,457 11,781 12,450
1,580 1,847 1,895 1,956 2,019 2,117 2,432 2,877 3,557 4,321 5,002 5,734 6,053
CWIP 375 291 262 254 267 352 386 478 777 847 1,379 1,434 1,488
Investments 98 143 117 291 259 677 1,148 1,544 258 1,826 1,976 677 1,528
272 352 580 575 839 945 966 1,054 2,584 1,598 2,101 3,936 3,382
Total Assets 2,325 2,634 2,855 3,076 3,384 4,091 4,932 5,953 7,176 8,591 10,457 11,781 12,450

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
612 643 648 664 653 946 879 1,157 1,361 1,546 1,898 2,231
-606 -362 -300 -364 -175 -1,114 -717 -1,121 -521 -1,826 -1,585 -841
65 -218 -241 -327 -256 -160 -84 -169 -243 -297 -328 -1,359
Net Cash Flow 71 63 106 -27 223 -328 78 -133 597 -577 -15 31

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 19 19 20 23 25 19 18 14 10 19 25 23
Inventory Days 9 7 6 7 10 10 8 6 5 8 4 2
Days Payable 43 32 26 30 26 48 50 35 22 69 65 32
Cash Conversion Cycle -14 -6 0 1 9 -19 -23 -15 -7 -41 -37 -6
Working Capital Days -58 -44 -32 -36 -32 -62 -67 -75 -82 -142 -113 -78
ROCE % 33% 32% 29% 31% 27% 32% 31% 29% 29% 24% 26% 27%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00%
23.80% 23.87% 21.88% 20.23% 19.88% 20.34% 20.99% 21.76% 21.27% 21.94% 20.94% 17.91%
15.93% 14.79% 16.05% 16.68% 16.90% 16.79% 20.10% 19.53% 20.28% 20.17% 21.06% 22.74%
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.18% 5.18% 5.18% 5.18% 5.18% 5.00%
10.27% 11.34% 12.07% 13.09% 13.22% 12.87% 8.74% 8.53% 8.27% 7.72% 7.83% 9.36%
No. of Shareholders 1,96,0662,12,6952,28,8852,93,1173,70,1903,69,3923,40,9153,22,3453,05,9612,72,0652,70,6873,16,340

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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