Indraprastha Gas Ltd
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]
- Market Cap ₹ 23,246 Cr.
- Current Price ₹ 166
- High / Low ₹ 229 / 142
- Stock P/E 15.0
- Book Value ₹ 82.2
- Dividend Yield 2.56 %
- ROCE 17.9 %
- ROE 14.0 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 34.1%
Cons
- Earnings include an other income of Rs.675 Cr.
* 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
Energy Oil, Gas & Consumable Fuels Gas LPG/CNG/PNG/LNG Supplier
Part of BSE 500 Nifty 500 BSE Oil & Gas Nifty Energy Nifty Smallcap 100
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,681 | 3,686 | 3,815 | 4,535 | 5,765 | 6,485 | 4,941 | 7,710 | 14,133 | 14,000 | 14,928 | 16,168 | |
| 2,887 | 2,910 | 2,851 | 3,409 | 4,506 | 4,949 | 3,446 | 5,816 | 12,089 | 11,612 | 12,934 | 14,324 | |
| Operating Profit | 794 | 775 | 964 | 1,126 | 1,259 | 1,536 | 1,495 | 1,894 | 2,044 | 2,388 | 1,994 | 1,844 |
| OPM % | 22% | 21% | 25% | 25% | 22% | 24% | 30% | 25% | 14% | 17% | 13% | 11% |
| 31 | 78 | 108 | 153 | 213 | 293 | 240 | 401 | 469 | 596 | 691 | 675 | |
| Interest | 30 | 10 | 1 | 2 | 2 | 20 | 22 | 25 | 27 | 28 | 26 | 15 |
| Depreciation | 149 | 156 | 167 | 181 | 201 | 252 | 290 | 317 | 363 | 414 | 476 | 518 |
| Profit before tax | 645 | 687 | 904 | 1,096 | 1,269 | 1,556 | 1,422 | 1,953 | 2,122 | 2,542 | 2,183 | 1,985 |
| Tax % | 33% | 33% | 33% | 34% | 34% | 20% | 18% | 23% | 23% | 22% | 22% | 22% |
| 448 | 458 | 606 | 722 | 842 | 1,249 | 1,173 | 1,502 | 1,640 | 1,983 | 1,713 | 1,544 | |
| EPS in Rs | 3.20 | 3.27 | 4.33 | 5.16 | 6.02 | 8.92 | 8.38 | 10.73 | 11.71 | 14.18 | 12.27 | 11.07 |
| Dividend Payout % | 19% | 18% | 20% | 19% | 20% | 16% | 21% | 26% | 56% | 32% | 57% | 14% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 27% |
| 3 Years: | 5% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 6% |
| 3 Years: | -1% |
| TTM: | -7% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | -8% |
| 3 Years: | -12% |
| 1 Year: | -20% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 18% |
| 3 Years: | 17% |
| Last Year: | 14% |
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 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 140 | 140 | 140 | 140 | 140 | 140 | 140 | 140 | 140 | 140 | 280 | 280 |
| Reserves | 1,975 | 2,430 | 2,872 | 3,507 | 4,176 | 5,218 | 6,194 | 7,446 | 7,791 | 9,493 | 10,336 | 11,224 |
| 145 | 0 | 0 | 0 | 0 | 96 | 113 | 108 | 83 | 81 | 93 | 98 | |
| 833 | 882 | 1,186 | 1,453 | 1,871 | 2,094 | 2,606 | 3,413 | 4,614 | 4,510 | 4,880 | 5,426 | |
| Total Liabilities | 3,093 | 3,452 | 4,198 | 5,100 | 6,187 | 7,548 | 9,054 | 11,107 | 12,628 | 14,225 | 15,590 | 17,028 |
| 1,956 | 2,019 | 2,117 | 2,432 | 2,877 | 3,557 | 4,321 | 5,002 | 5,734 | 6,603 | 7,192 | 8,069 | |
| CWIP | 254 | 267 | 352 | 386 | 478 | 777 | 847 | 1,379 | 1,434 | 1,396 | 1,543 | 1,518 |
| Investments | 308 | 327 | 784 | 1,316 | 1,778 | 630 | 2,288 | 2,626 | 1,522 | 2,222 | 2,926 | 3,175 |
| 575 | 839 | 945 | 966 | 1,054 | 2,584 | 1,598 | 2,101 | 3,939 | 4,003 | 3,929 | 4,267 | |
| Total Assets | 3,093 | 3,452 | 4,198 | 5,100 | 6,187 | 7,548 | 9,054 | 11,107 | 12,628 | 14,225 | 15,590 | 17,028 |
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 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 664 | 653 | 946 | 879 | 1,157 | 1,361 | 1,546 | 1,898 | 2,231 | 1,532 | 2,199 | 1,936 | |
| -364 | -175 | -1,114 | -717 | -1,121 | -521 | -1,826 | -1,585 | -841 | -1,103 | -1,519 | -1,211 | |
| -327 | -256 | -160 | -84 | -169 | -243 | -297 | -328 | -1,359 | -316 | -754 | -699 | |
| Net Cash Flow | -27 | 223 | -328 | 78 | -133 | 597 | -577 | -15 | 31 | 113 | -74 | 25 |
| Free Cash Flow | 449 | 422 | 675 | 409 | 476 | 398 | 663 | 561 | 1,109 | 303 | 1,035 | 588 |
| CFO/OP | 106% | 108% | 126% | 107% | 121% | 111% | 123% | 120% | 133% | 85% | 130% | 126% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 23 | 25 | 19 | 18 | 14 | 10 | 19 | 25 | 23 | 27 | 17 | 21 |
| Inventory Days | 7 | 10 | 10 | 8 | 6 | 5 | 8 | 4 | 2 | 2 | 2 | 2 |
| Days Payable | 30 | 26 | 48 | 50 | 35 | 22 | 69 | 65 | 32 | 37 | 31 | 32 |
| Cash Conversion Cycle | 1 | 9 | -19 | -23 | -15 | -7 | -41 | -37 | -6 | -8 | -12 | -9 |
| Working Capital Days | -36 | -32 | -62 | -67 | -75 | -83 | -144 | -115 | -79 | -72 | -80 | -49 |
| ROCE % | 29% | 32% | 32% | 30% | 31% | 24% | 27% | 27% | 28% | 21% | 18% |
Insights
In beta| Mar 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Domestic PNG Connections Lakhs ・Standalone data |
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| Industrial and Commercial PNG Connections Nos. ・Standalone data |
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| MDPE Pipeline Network km ・Standalone data |
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| Number of CNG Stations Nos. ・Standalone data |
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| Total Gas Sales Volume MMSCM ・Standalone data |
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| Average Daily Volume MMSCMD ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
1d - Annual Secretarial Compliance Report for FY2026 notes prior board-composition fines of Rs 3.71 lakh and Rs 2.71 lakh.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 23 May
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
22 May - Shareholders approved appointment of Shri Subhankar Sen as director via postal ballot on May 22, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
19 May - IGL shared audio recording link for May 19, 2026 conference call on FY26 audited results.
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Announcement under Regulation 30 (LODR)-Change in Management
18 May - Manjeet Singh Gulati appointed CFO from May 21, 2026; Sanjay Kumar ceases as CFO.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from web
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Feb 2026TranscriptPPTREC
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Nov 2025TranscriptPPTREC
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Jul 2025TranscriptPPT
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Apr 2025TranscriptPPTREC
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Jan 2025TranscriptPPT
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Oct 2024TranscriptPPT
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Jul 2024Transcript PPT
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May 2024Transcript PPT
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Jan 2024Transcript PPT REC
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Nov 2023TranscriptPPT
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Jul 2023TranscriptPPT
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May 2023Transcript PPT
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Jan 2023TranscriptPPT
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Oct 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Nov 2017TranscriptAI SummaryPPT
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Nov 2016TranscriptAI SummaryPPT
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.