Indraprastha Gas Ltd

₹ 418 1.15%
27 Jan - 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 29,253 Cr.
  • Current Price 418
  • High / Low 452 / 321
  • Stock P/E 19.8
  • Book Value 106
  • Dividend Yield 1.32 %
  • ROCE 26.5 %
  • ROE 19.8 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 23.9%

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 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
1,664 1,553 639 1,305 1,446 1,551 1,257 1,831 2,215 2,406 3,194 3,554 3,711
1,272 1,176 555 898 945 1,059 877 1,301 1,746 1,905 2,576 3,026 3,282
Operating Profit 392 377 83 407 501 492 381 530 470 500 618 528 428
OPM % 24% 24% 13% 31% 35% 32% 30% 29% 21% 21% 19% 15% 12%
51 31 31 66 26 28 30 77 30 77 31 110 56
Interest 2 3 2 2 3 4 3 3 3 5 2 3 3
Depreciation 64 66 68 71 75 76 78 80 84 75 86 91 92
Profit before tax 376 340 44 399 449 440 330 525 414 498 560 543 389
Tax % 25% 25% 27% 23% 25% 25% 26% 24% 25% 27% 25% 23% 28%
Net Profit 284 253 32 308 335 331 244 401 309 362 421 416 278
EPS in Rs 4.05 3.62 0.45 4.40 4.78 4.73 3.49 5.72 4.41 5.17 6.01 5.94 3.98
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,746 2,517 3,367 3,914 3,681 3,686 3,815 4,535 5,765 6,485 4,941 7,710 12,865
1,251 1,883 2,603 3,131 2,887 2,910 2,851 3,410 4,506 4,949 3,446 5,816 10,791
Operating Profit 495 634 764 783 794 775 964 1,125 1,259 1,536 1,495 1,894 2,074
OPM % 28% 25% 23% 20% 22% 21% 25% 25% 22% 24% 30% 25% 16%
7 8 12 21 34 29 65 90 144 152 149 213 274
Interest 14 49 61 45 30 10 1 2 2 20 22 25 13
Depreciation 103 143 187 220 149 156 167 181 201 252 290 317 345
Profit before tax 386 450 528 540 649 638 861 1,032 1,200 1,416 1,331 1,766 1,990
Tax % 33% 32% 33% 33% 33% 34% 34% 35% 34% 20% 24% 26%
Net Profit 260 306 354 360 438 419 571 671 787 1,137 1,006 1,315 1,477
EPS in Rs 3.71 4.38 5.06 5.15 6.25 5.99 8.16 9.58 11.24 16.24 14.37 18.78 21.10
Dividend Payout % 27% 23% 22% 21% 19% 20% 21% 21% 21% 17% 25% 29%
Compounded Sales Growth
10 Years: 12%
5 Years: 15%
3 Years: 10%
TTM: 88%
Compounded Profit Growth
10 Years: 15%
5 Years: 17%
3 Years: 20%
TTM: 15%
Stock Price CAGR
10 Years: 23%
5 Years: 6%
3 Years: -7%
1 Year: 6%
Return on Equity
10 Years: 20%
5 Years: 20%
3 Years: 20%
Last Year: 20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
140 140 140 140 140 140 140 140 140 140 140 140 140
Reserves 864 1,089 1,353 1,623 1,958 2,376 2,787 3,373 3,990 4,922 5,732 6,796 7,249
282 539 458 352 145 0 0 0 0 96 113 108 99
481 557 682 739 833 868 1,164 1,419 1,823 2,017 2,606 3,413 4,153
Total Liabilities 1,767 2,325 2,634 2,855 3,076 3,384 4,091 4,932 5,953 7,176 8,591 10,457 11,640
1,159 1,580 1,847 1,895 1,956 2,019 2,117 2,432 2,877 3,557 4,321 5,002 5,289
CWIP 327 375 291 262 254 267 352 386 478 777 847 1,379 1,471
Investments 42 98 143 117 291 259 677 1,148 1,544 258 1,826 1,976 1,577
238 272 352 580 575 839 945 966 1,054 2,584 1,598 2,101 3,304
Total Assets 1,767 2,325 2,634 2,855 3,076 3,384 4,091 4,932 5,953 7,176 8,591 10,457 11,640

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
410 612 643 648 664 653 946 879 1,157 1,361 1,546 1,898
-757 -606 -362 -300 -364 -175 -1,114 -717 -1,121 -521 -1,826 -1,585
268 65 -218 -241 -327 -256 -160 -84 -169 -243 -297 -328
Net Cash Flow -79 71 63 106 -27 223 -328 78 -133 597 -577 -15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 16 19 19 20 23 25 19 18 14 10 19 25
Inventory Days 13 9 7 6 7 10 10 8 6 5 8 4
Days Payable 53 43 32 26 30 26 48 50 35 22 69 65
Cash Conversion Cycle -24 -14 -6 0 1 9 -19 -23 -15 -7 -41 -37
Working Capital Days -29 -58 -44 -32 -36 -32 -62 -67 -75 -82 -142 -114
ROCE % 37% 33% 32% 29% 31% 27% 32% 31% 29% 29% 24% 26%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00
22.77 22.29 21.27 23.22 23.80 23.87 21.88 20.23 19.88 20.34 20.99 21.76
16.75 17.22 17.39 16.08 15.93 14.79 16.05 16.68 16.90 16.79 20.10 19.53
5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.18 5.18
10.48 10.49 11.34 10.70 10.27 11.34 12.07 13.09 13.22 12.87 8.74 8.53

* 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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