Indraprastha Gas Ltd

₹ 368 0.96%
28 Jun - 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 25,739 Cr.
  • Current Price 368
  • High / Low 604 / 321
  • Stock P/E 17.1
  • Book Value 108
  • Dividend Yield 0.98 %
  • ROCE 27.8 %
  • ROE 21.6 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 19.89% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.94%

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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
1,576 1,692 1,664 1,553 639 1,305 1,446 1,551 1,257 1,831 2,215 2,406
1,218 1,300 1,272 1,176 555 898 945 1,059 877 1,301 1,746 1,905
Operating Profit 358 393 392 377 83 407 501 492 381 530 470 500
OPM % 23% 23% 24% 24% 13% 31% 35% 32% 30% 29% 21% 21%
69 81 67 80 37 59 73 72 63 96 97 147
Interest 2 2 2 3 2 2 3 4 3 3 3 5
Depreciation 60 62 64 66 68 71 75 76 78 80 84 75
Profit before tax 365 410 393 388 49 393 496 484 364 543 480 567
Tax % 33% -1% 24% 25% 29% 3% 23% 23% 24% 23% 22% 24%
Net Profit 245 416 297 291 35 380 382 375 278 419 375 431
EPS in Rs 3.50 5.94 4.25 4.15 0.50 5.43 5.45 5.36 3.97 5.98 5.35 6.16

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
3,681 3,686 3,815 4,535 5,765 6,485 4,941 7,710
2,887 2,910 2,851 3,409 4,506 4,949 3,446 5,829
Operating Profit 794 775 964 1,126 1,259 1,536 1,495 1,881
OPM % 22% 21% 25% 25% 22% 24% 30% 24%
31 78 108 153 213 293 240 402
Interest 30 10 1 2 2 20 22 13
Depreciation 149 156 167 181 201 252 290 317
Profit before tax 645 687 904 1,096 1,269 1,556 1,422 1,953
Tax % 33% 33% 33% 34% 34% 20% 18% 23%
Net Profit 448 458 606 722 842 1,249 1,173 1,502
EPS in Rs 6.40 6.54 8.66 10.31 12.03 17.84 16.75 21.46
Dividend Payout % 19% 18% 20% 19% 20% 16% 21% 26%
Compounded Sales Growth
10 Years: %
5 Years: 15%
3 Years: 10%
TTM: 56%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 24%
TTM: 30%
Stock Price CAGR
10 Years: 23%
5 Years: 12%
3 Years: 5%
1 Year: -31%
Return on Equity
10 Years: %
5 Years: 21%
3 Years: 22%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
140 140 140 140 140 140 140 140
Reserves 1,975 2,430 2,872 3,507 4,176 5,218 6,194 7,446
145 0 0 0 0 96 113 108
833 882 1,186 1,453 1,871 2,094 2,606 3,409
Total Liabilities 3,093 3,452 4,198 5,100 6,187 7,548 9,054 11,102
1,956 2,019 2,117 2,432 2,877 3,557 4,321 5,002
CWIP 254 267 352 386 478 777 847 1,379
Investments 308 327 784 1,316 1,778 630 2,288 2,626
575 839 945 966 1,054 2,584 1,598 2,096
Total Assets 3,093 3,452 4,198 5,100 6,187 7,548 9,054 11,102

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
664 653 946 879 1,157 1,361 1,546 1,898
-364 -175 -1,114 -717 -1,121 -521 -1,826 -1,585
-327 -256 -160 -84 -169 -243 -297 -328
Net Cash Flow -27 223 -328 78 -133 597 -577 -15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 23 25 19 18 14 10 19 25
Inventory Days 7 10 10 8 6 5 8 4
Days Payable 30 26 48 50 35 22 69 65
Cash Conversion Cycle 1 9 -19 -23 -15 -7 -41 -37
Working Capital Days -36 -32 -62 -67 -75 -82 -142 -33
ROCE % 29% 32% 32% 30% 31% 24% 28%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 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
22.82 23.83 24.49 22.77 22.29 21.27 23.22 23.80 23.87 21.88 20.23 19.88
16.71 15.88 15.74 16.75 17.22 17.39 16.08 15.93 14.79 16.05 16.68 16.90
5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00
10.47 10.29 9.77 10.48 10.49 11.34 10.70 10.27 11.34 12.07 13.09 13.22

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