Indraprastha Gas Ltd

₹ 431 3.34%
25 Nov - 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 30,142 Cr.
  • Current Price 431
  • High / Low 515 / 321
  • Stock P/E 17.6
  • Book Value 116
  • Dividend Yield 1.28 %
  • ROCE 27.1 %
  • ROE 20.9 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 19.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.9%

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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,692 1,664 1,553 639 1,305 1,446 1,551 1,257 1,831 2,215 2,406 3,194 3,554
1,300 1,272 1,176 555 898 945 1,059 877 1,301 1,746 1,905 2,576 3,026
Operating Profit 393 392 377 83 407 501 492 381 530 470 500 618 528
OPM % 23% 24% 24% 13% 31% 35% 32% 30% 29% 21% 21% 19% 15%
81 67 80 37 59 73 72 63 96 97 147 91 121
Interest 2 2 3 2 2 3 4 3 3 3 5 2 3
Depreciation 62 64 66 68 71 75 76 78 80 84 75 86 91
Profit before tax 410 393 388 49 393 496 484 364 543 480 567 621 554
Tax % -1% 24% 25% 29% 3% 23% 23% 24% 23% 22% 24% 22% 23%
Net Profit 416 297 291 35 380 382 375 278 419 375 431 481 427
EPS in Rs 5.94 4.25 4.15 0.50 5.43 5.45 5.36 3.97 5.98 5.35 6.16 6.87 6.10
Raw PDF

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 TTM
3,681 3,686 3,815 4,535 5,765 6,485 4,941 7,710 11,369
2,887 2,910 2,851 3,409 4,506 4,949 3,446 5,816 9,254
Operating Profit 794 775 964 1,126 1,259 1,536 1,495 1,894 2,115
OPM % 22% 21% 25% 25% 22% 24% 30% 25% 19%
31 78 108 153 213 293 240 401 455
Interest 30 10 1 2 2 20 22 25 13
Depreciation 149 156 167 181 201 252 290 317 336
Profit before tax 645 687 904 1,096 1,269 1,556 1,422 1,953 2,221
Tax % 33% 33% 33% 34% 34% 20% 18% 23%
Net Profit 448 458 606 722 842 1,249 1,173 1,502 1,714
EPS in Rs 6.40 6.54 8.66 10.31 12.03 17.84 16.75 21.46 24.48
Dividend Payout % 19% 18% 20% 19% 20% 16% 21% 26%
Compounded Sales Growth
10 Years: %
5 Years: 15%
3 Years: 10%
TTM: 87%
Compounded Profit Growth
10 Years: %
5 Years: 19%
3 Years: 23%
TTM: 18%
Stock Price CAGR
10 Years: 24%
5 Years: 6%
3 Years: 1%
1 Year: -11%
Return on Equity
10 Years: %
5 Years: 21%
3 Years: 22%
Last Year: 21%

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 Sep 2022
140 140 140 140 140 140 140 140 140
Reserves 1,975 2,430 2,872 3,507 4,176 5,218 6,194 7,446 7,970
145 0 0 0 0 96 113 108 99
833 882 1,186 1,453 1,871 2,094 2,606 3,413 4,153
Total Liabilities 3,093 3,452 4,198 5,100 6,187 7,548 9,054 11,107 12,361
1,956 2,019 2,117 2,432 2,877 3,557 4,321 5,002 5,289
CWIP 254 267 352 386 478 777 847 1,379 1,471
Investments 308 327 784 1,316 1,778 630 2,288 2,626 2,298
575 839 945 966 1,054 2,584 1,598 2,101 3,304
Total Assets 3,093 3,452 4,198 5,100 6,187 7,548 9,054 11,107 12,361

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 -114
ROCE % 29% 32% 32% 30% 31% 24% 27%

Shareholding Pattern

Numbers in percentages

5 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 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
24.49 22.77 22.29 21.27 23.22 23.80 23.87 21.88 20.23 19.88 20.34 20.99
15.74 16.75 17.22 17.39 16.08 15.93 14.79 16.05 16.68 16.90 16.79 20.10
5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.18
9.77 10.48 10.49 11.34 10.70 10.27 11.34 12.07 13.09 13.22 12.87 8.74

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