Indraprastha Gas Ltd.

NSE: IGL · LPG/CNG/PNG/LNG Supplier

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Snapshot

Unlock Indraprastha Gas Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Indraprastha Gas Limited is a prominent Indian utility company engaged in the distribution of natural gas. It supplies compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to domestic, commercial, and industrial consumers across various regions in India.

Business Model

The company generates revenue by distributing natural gas through an extensive network of steel and MDPE pipelines. It operates a large infrastructure of CNG stations and serves a vast base of residential and industrial customers.

  • CNG Stations:612
  • Households Served:16.85 Lakh
  • Steel Pipeline Network:1,265 km
  • MDPE Network:15,262 km

Growth Outlook

Growth is driven by the continued expansion of the city gas distribution network into new geographical areas and the increasing adoption of CNG as a cleaner fuel alternative for transport. The company continues to invest in pipeline infrastructure to increase its penetration in domestic and industrial segments.

Key Risks

  • Regulatory Risk. The company is subject to government regulations regarding gas pricing and allocation, which can impact profit margins.
  • Supply Volatility. Dependence on the availability and pricing of imported liquefied natural gas (LNG) poses a risk to operational costs.
  • Infrastructure Execution. Delays in obtaining necessary permits and land acquisition for pipeline expansion could hinder growth targets.
  • Competitive Pressure. The emergence of alternative clean energy technologies, such as electric vehicles, may impact the long-term demand for CNG.

Price

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Key Metrics

REVENUE

₹17,846 Cr

TTM · consolidated

+8.4%YoY

NET PROFIT

₹1,544 Cr

TTM · consolidated

-9.9%YoY

EPS

₹11.06

TTM · consolidated

-48.0%YoY

RETURN ON EQUITY

14.2%

TTM · consolidated

-3.1 ppYoY

RETURN ON CAPITAL EMPLOYED

14.8%

TTM · consolidated

-2.8 ppYoY

P/E

13.9x

Q4 FY26 · consolidated

13.9 vs 8.0x5Y avg

EV/EBITDA

9.7x

Q4 FY26 · consolidated

9.7 vs 9.6x5Y avg

EBITDA MARGIN

12.4%

TTM · consolidated

-1.6 ppYoY

NET PROFIT MARGIN

7.4%

Q4 FY26 · consolidated

-3.0 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · LPG/CNG/PNG/LNG Supplier

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Indraprastha Gas Ltd.IGL
21,00013.929.668.4%12.4%14.2%14.8%-29.9%
Petronet LNG Ltd.PETRONET
36,10510.586.38-14.7%14.3%19.1%22.6%-11.1%
Gujarat Gas Ltd.GUJGASLTD
22,99219.8810.394.2%13.2%9.3%12.5%
Mahanagar Gas Ltd.MGL
9,12713.096.9613.6%17.3%14.0%17.7%-24.7%
Confidence PetroCONFIPET
1,16626.987.8249.6%8.0%7.1%10.7%+35.6%
IRM EnergyIRMENERGY
75920.287.919.8%11.9%5.5%8.7%-14.5%

As of Q4 FY26

Financials