Indraprastha Gas Ltd.
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ABOUT
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 23.1%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 26.8% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.08x)
- Company has been maintaining a healthy dividend payout of 42.9%
CONS
- Recent results are weak - TTM profit is down 23.2% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Total debt has risen sharply - up 256.4% year on year
- Company has delivered a poor profit growth of 5.7% over past five years
- Operating margins have contracted to 10.4% from 14.5%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GAIL | 173.90 | 11.57 | 114340.98 | 3.16 | 4670.99 | 96.08 | 41350.18 | 16.71 | 10.16 | 17.99 |
| ATGL | 594.80 | 103.47 | 65416.70 | 0.04 | 1417.20 | 757.66 | 19067.90 | 1172.62 | 16.96 | 14.67 |
| GUJENERGY | 241.65 | 11.95 | 22672.35 | 3.68 | 10074.00 | 207.47 | 97713.80 | 140.35 | 11.32 | 14.41 |
| IGL | 151.90 | 15.63 | 21266.02 | 3.13 | 237.92 | -44.39 | 5043.44 | 16.56 | 18.23 | 6.95 |
| MGL | 1084.50 | 14.97 | 10712.45 | 2.77 | 192.64 | -39.38 | 2598.90 | 13.88 | 18.78 | 13.18 |
| CFEL | 48.92 | 17.01 | 122.40 | 0.51 | 11.72 | 4995.65 | 358.40 | 774.59 | 8.59 | 11.04 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,762 | 3,823 | 3,926 | 3,964 | 3,888 | 4,084 | 4,142 | 4,338 | 4,327 | 4,446 | 4,489 | 4,585 | 5,043 | |
| 3,119 | 3,166 | 3,364 | 3,443 | 3,311 | 3,554 | 3,784 | 3,845 | 3,816 | 4,005 | 4,018 | 4,164 | 4,890 | |
| Operating Profit | 642 | 657 | 562 | 521 | 576 | 531 | 358 | 493 | 511 | 441 | 471 | 421 | 153 |
| OPM % | 17.08% | 17.19% | 14.32% | 13.15% | 14.83% | 12.99% | 8.64% | 11.36% | 11.80% | 9.92% | 10.49% | 9.18% | 3.03% |
| 46 | 62 | 55 | 80 | 76 | 87 | 92 | 94 | 89 | 95 | 89 | 100 | 102 | |
| Interest | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 4 | 3 | 3 | 2 | 8 | 3 |
| Depreciation | 99 | 102 | 102 | 111 | 114 | 119 | 122 | 121 | 124 | 128 | 132 | 133 | 137 |
| Profit before Tax | 587 | 614 | 513 | 488 | 536 | 497 | 327 | 462 | 473 | 405 | 426 | 381 | 312 |
| Tax % | 25.28% | 24.66% | 24.07% | 27.86% | 25.48% | 26.84% | 25.43% | 25.24% | 25.36% | 25.35% | 26.12% | 28.34% | 23.68% |
| Net Profit | 0 | 0 | 0 | 0 | 480 | 454 | 325 | 453 | 428 | 385 | 392 | 339 | 238 |
| 7.46 | 7.90 | 6.79 | 3.10 | 3.44 | 3.25 | 2.33 | 3.25 | 3.06 | 2.76 | 2.81 | 2.43 | 1.72 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,815 | 4,535 | 5,765 | 6,485 | 4,941 | 7,710 | 14,133 | 14,000 | 14,913 | 16,168 | 18,563 | |
| 2,845 | 3,412 | 4,497 | 4,953 | 3,447 | 5,817 | 12,091 | 11,618 | 12,938 | 14,305 | 17,077 | |
| Operating Profit | 969 | 1,123 | 1,268 | 1,532 | 1,494 | 1,893 | 2,042 | 2,382 | 1,974 | 1,863 | 1,486 |
| OPM % | 25.41% | 24.77% | 21.99% | 23.62% | 30.23% | 24.55% | 14.45% | 17.01% | 13.24% | 11.52% | 8.01% |
| 46 | 91 | 128 | 143 | 115 | 177 | 217 | 261 | 349 | 374 | 386 | |
| Interest | 7 | 9 | 13 | 20 | 22 | 25 | 27 | 28 | 26 | 35 | 16 |
| Depreciation | 167 | 181 | 201 | 252 | 290 | 317 | 363 | 414 | 476 | 518 | 531 |
| Profit before Tax | 904 | 1,096 | 1,269 | 1,556 | 1,422 | 1,953 | 2,122 | 2,542 | 2,183 | 1,985 | 1,523 |
| Tax % | 32.92% | 34.15% | 33.65% | 19.76% | 17.54% | 23.09% | 22.74% | 21.99% | 21.51% | 22.25% | 25.97% |
| Net Profit | 606 | 722 | 842 | 1,249 | 1,173 | 1,502 | 1,640 | 1,983 | 1,713 | 1,544 | 1,127 |
| EPS | 8.66 | 10.31 | 12.03 | 17.84 | 16.75 | 21.46 | 23.42 | 28.36 | 12.27 | 11.07 | — |
| Dividend Payout % | 19.63% | 19.40% | 19.95% | 15.69% | 21.49% | 25.63% | 55.50% | 31.74% | 57.05% | 42.91% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 16%
- 5 Years:
- 27%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 13%
- 5 Years:
- 6%
- 3 Years:
- -2%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- -12%
- 3 Years:
- -13%
- 1 Year:
- -29%
RETURN ON EQUITY
- 10 Years:
- 21%
- 5 Years:
- 19%
- 3 Years:
- 18%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 280 | 280 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 27 | 21 |
| 2,872 | 3,507 | 4,176 | 5,218 | 6,194 | 7,446 | 7,791 | 9,493 | 10,336 | 11,224 | |
| 0 | 1 | 1 | 79 | 104 | 108 | 110 | 87 | 130 | 112 | |
| Trade Payables | 274 | 339 | 326 | 225 | 419 | 787 | 904 | 985 | 935 | 1,069 |
| 907 | 1,110 | 1,540 | 1,882 | 2,193 | 2,621 | 3,678 | 3,498 | 3,874 | 4,322 | |
| Total Liabilities | 4,193 | 5,096 | 6,183 | 7,544 | 9,050 | 11,102 | 12,623 | 14,220 | 15,581 | 17,028 |
| 2,117 | 2,432 | 2,877 | 3,557 | 4,321 | 5,002 | 5,734 | 6,603 | 7,192 | 8,053 | |
| Capital Work in Progress | 352 | 386 | 478 | 777 | 847 | 1,379 | 1,434 | 1,396 | 1,527 | 1,518 |
| 784 | 1,316 | 1,778 | 630 | 2,288 | 2,626 | 1,522 | 2,222 | 2,926 | 3,175 | |
| 52 | 52 | 51 | 51 | 46 | 46 | 49 | 52 | 49 | 61 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,019 | 707 | 920 | |
| Cash & Bank | 609 | 558 | 607 | 2,180 | 1,132 | 1,362 | 2,132 | 2,156 | 2,265 | 2,926 |
| 280 | 352 | 392 | 349 | 416 | 689 | 1,753 | 772 | 916 | 375 | |
| Total Assets | 4,193 | 5,096 | 6,183 | 7,544 | 9,050 | 11,102 | 12,623 | 14,220 | 15,581 | 17,028 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,215 | 1,210 | 1,526 | 1,705 | 1,835 | 2,274 | 2,714 | 1,532 | 2,184 | 1,936 | |
| Cash from Investing | -1,114 | -717 | -1,121 | -521 | -1,826 | -1,585 | -841 | -1,103 | -1,504 | -1,211 |
| Cash from Financing | -160 | -84 | -169 | -243 | -297 | -328 | -1,359 | -316 | -754 | -699 |
| -328 | 78 | -133 | 597 | -577 | -15 | 31 | 113 | -74 | 25 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Indraprastha Gas Limited has informed the Exchange about appointment of Statutory Auditor by Comptroller and Auditor General of India for FY 2026-27
2026-09-02 - Indraprastha Gas Limited has informed the Exchange regarding Business Responsibility and Sustainability Report
2026-09-02 - Indraprastha Gas Limited has informed the Exchange regarding notice of 27th Annual General Meeting to be held on 24 September 2026 and record date for the purpose of final dividend for FY 2025-26.
2026-09-02 - Indraprastha Gas Limited has informed the Exchange that Record date for the purpose of Final Dividend for FY 2025-26 is 01-Oct-2026.
2026-09-02 - Indraprastha Gas Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026 and Record Date for the purpose of Final Dividend for FY 2025-26.
2026-08-21 - Indraprastha Gas Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
2026-08-19 - Indraprastha Gas Limited has informed the Exchange about Transcript of Conference Call held on August 14, 2026.
2026-08-15 - Indraprastha Gas Limited has informed the Exchange about Link of Recording
2026-08-13 - Indraprastha Gas Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
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Indraprastha Gas Ltd.
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