IRM Energy

NSE: IRMENERGY · LPG/CNG/PNG/LNG Supplier

52W Range₹165 ₹393

Snapshot

Unlock IRM Energy's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

IRM Energy Limited is a city gas distribution company engaged in the development and operation of natural gas infrastructure. It provides piped natural gas (PNG) and compressed natural gas (CNG) to domestic, industrial, commercial, and automobile customers across specific geographical regions in India.

Business Model

The company generates revenue by laying, building, and operating gas distribution networks to supply fuel to various consumer segments. It monetises its infrastructure through the sale of CNG at retail outlets and the distribution of PNG to industrial, commercial, and domestic households.

  • Domestic Customers:48,172
  • Industrial Units:179
  • Commercial Establishments:248
  • CNG Retail Outlets:62

Growth Outlook

Growth is driven by the expansion of its city gas distribution network into new geographical areas and the increasing adoption of cleaner fuel alternatives in the industrial and transport sectors. The company continues to focus on infrastructure development to increase its customer base across its licensed regions.

Key Risks

  • Regulatory and Licensing Risk. The company's operations are subject to strict regulatory oversight and the renewal of geographical area licenses, which could impact future expansion.
  • Gas Price Volatility. Fluctuations in the global price of natural gas can significantly impact operating margins and the affordability of services for end-users.
  • Infrastructure Execution Risk. Delays in laying and commissioning gas pipelines and retail outlets may hinder the company's ability to meet growth targets.
  • Competitive Pressure. The entry of other players or the availability of alternative energy sources could affect market share and pricing power.

Price

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Key Metrics

REVENUE

₹1,160 Cr

TTM · consolidated

+9.8%YoY

NET PROFIT

₹53 Cr

TTM · consolidated

+17.7%YoY

EPS

₹12.96

TTM · consolidated

+17.7%YoY

RETURN ON EQUITY

5.5%

TTM · consolidated

+0.7 ppYoY

RETURN ON CAPITAL EMPLOYED

8.7%

TTM · consolidated

+0.1 ppYoY

P/E

20.3x

Q4 FY26 · consolidated

20.3 vs 20.8x5Y avg

EV/EBITDA

7.9x

Q4 FY26 · consolidated

7.9 vs 7.4x5Y avg

EBITDA MARGIN

11.9%

TTM · consolidated

-0.5 ppYoY

NET PROFIT MARGIN

4.2%

Q4 FY26 · consolidated

+2.7 ppYoY

DEBT TO EQUITY

0.1%

Q4 FY26 · consolidated

-0.1 ppYoY

Peers · LPG/CNG/PNG/LNG Supplier

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
IRM EnergyIRMENERGY
75920.287.919.8%11.9%5.5%8.7%-14.5%
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%
Indraprastha Gas Ltd.IGL
21,00013.929.668.4%12.4%14.2%14.8%-29.9%
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%

As of Q4 FY26

Financials