Indraprastha Gas Ltd

Indraprastha Gas Ltd

₹ 461 1.41%
24 May - 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[1]
IGL has operations in the NCT of Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Karnal, Kaithal, Kanpur, Muzaffarnagar, Ajmer, and Banda with 819 CNG stations, 25.60 lacs residential connections, and ~10,000 industrial/commercial customers.

  • Market Cap 32,253 Cr.
  • Current Price 461
  • High / Low 501 / 376
  • Stock P/E 18.4
  • Book Value 122
  • Dividend Yield 2.82 %
  • ROCE 29.3 %
  • ROE 22.4 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 19.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 42.8%

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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,551 1,257 1,831 2,215 2,406 3,194 3,554 3,711 3,682 3,407 3,459 3,550 3,597
1,059 877 1,301 1,746 1,905 2,576 3,026 3,282 3,221 2,765 2,802 2,992 3,074
Operating Profit 492 381 530 470 500 618 528 428 461 642 657 558 523
OPM % 32% 30% 29% 21% 21% 19% 15% 12% 13% 19% 19% 16% 15%
28 30 77 30 77 31 110 56 71 46 134 61 109
Interest 4 3 3 3 5 2 3 3 3 2 2 2 3
Depreciation 76 78 80 84 75 86 91 92 94 99 102 102 111
Profit before tax 440 330 525 414 498 560 543 389 435 587 686 516 519
Tax % 25% 26% 24% 25% 27% 25% 23% 28% 24% 25% 22% 24% 26%
331 244 401 309 362 421 416 278 330 438 535 392 383
EPS in Rs 4.73 3.49 5.72 4.41 5.17 6.01 5.94 3.98 4.71 6.26 7.64 5.60 5.47
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,367 3,914 3,681 3,686 3,815 4,535 5,765 6,485 4,941 7,710 14,146 14,000
2,603 3,131 2,887 2,910 2,851 3,410 4,506 4,949 3,446 5,816 12,088 11,633
Operating Profit 764 783 794 775 964 1,125 1,259 1,536 1,495 1,894 2,058 2,367
OPM % 23% 20% 22% 21% 25% 25% 22% 24% 30% 25% 15% 17%
12 21 34 29 65 90 144 152 149 213 260 363
Interest 61 45 30 10 1 2 2 20 22 25 27 9
Depreciation 187 220 149 156 167 181 201 252 290 317 363 414
Profit before tax 528 540 649 638 861 1,032 1,200 1,416 1,331 1,766 1,928 2,307
Tax % 33% 33% 33% 34% 34% 35% 34% 20% 24% 26% 25% 24%
354 360 438 419 571 671 787 1,137 1,006 1,315 1,445 1,748
EPS in Rs 5.06 5.15 6.25 5.99 8.16 9.58 11.24 16.24 14.37 18.78 20.64 24.97
Dividend Payout % 22% 21% 19% 20% 21% 21% 21% 17% 25% 29% 63% 36%
Compounded Sales Growth
10 Years: 14%
5 Years: 19%
3 Years: 42%
TTM: -1%
Compounded Profit Growth
10 Years: 17%
5 Years: 19%
3 Years: 21%
TTM: 25%
Stock Price CAGR
10 Years: 22%
5 Years: 7%
3 Years: -3%
1 Year: -4%
Return on Equity
10 Years: 20%
5 Years: 21%
3 Years: 21%
Last Year: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 140 140 140 140 140 140 140 140 140 140 140 140
Reserves 1,353 1,623 1,958 2,376 2,787 3,373 3,990 4,922 5,732 6,796 6,947 8,412
458 352 145 0 0 0 0 96 113 108 83 81
682 739 833 868 1,164 1,419 1,823 2,017 2,606 3,413 4,611 4,488
Total Liabilities 2,634 2,855 3,076 3,384 4,091 4,932 5,953 7,176 8,591 10,457 11,781 13,121
1,847 1,895 1,956 2,019 2,117 2,432 2,877 3,557 4,321 5,002 5,734 6,599
CWIP 291 262 254 267 352 386 478 777 847 1,379 1,434 1,396
Investments 143 117 291 259 677 1,148 1,544 258 1,826 1,976 677 1,158
352 580 575 839 945 966 1,054 2,584 1,598 2,101 3,936 3,968
Total Assets 2,634 2,855 3,076 3,384 4,091 4,932 5,953 7,176 8,591 10,457 11,781 13,121

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
643 648 664 653 946 879 1,157 1,361 1,546 1,898 2,231 1,536
-362 -300 -364 -175 -1,114 -717 -1,121 -521 -1,826 -1,585 -841 -1,095
-218 -241 -327 -256 -160 -84 -169 -243 -297 -328 -1,359 -334
Net Cash Flow 63 106 -27 223 -328 78 -133 597 -577 -15 31 107

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 19 20 23 25 19 18 14 10 19 25 23 27
Inventory Days 7 6 7 10 10 8 6 5 8 4 2 2
Days Payable 32 26 30 26 48 50 35 22 69 65 32 37
Cash Conversion Cycle -6 0 1 9 -19 -23 -15 -7 -41 -37 -6 -8
Working Capital Days -44 -32 -36 -32 -62 -67 -75 -82 -142 -113 -78 -48
ROCE % 32% 29% 31% 27% 32% 31% 29% 29% 24% 26% 27%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00% 45.00%
23.87% 21.88% 20.23% 19.88% 20.34% 20.99% 21.76% 21.27% 21.94% 20.94% 17.91% 16.81%
14.79% 16.05% 16.68% 16.90% 16.79% 20.10% 19.53% 20.28% 20.17% 21.06% 22.74% 24.22%
5.00% 5.00% 5.00% 5.00% 5.00% 5.18% 5.18% 5.18% 5.18% 5.18% 5.00% 5.00%
11.34% 12.07% 13.09% 13.22% 12.87% 8.74% 8.53% 8.27% 7.72% 7.83% 9.36% 8.96%
No. of Shareholders 2,12,6952,28,8852,93,1173,70,1903,69,3923,40,9153,22,3453,05,9612,72,0652,70,6873,16,3402,96,569

* 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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