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    Regulated Gas
Indraprastha Gas Limited

Indraprastha Gas Limited

IGL.BO
Indraprastha Gas LimitedIN flagBombay Stock Exchange
152.45
INR
+0.30
- -
213.42BMarket Cap
Indraprastha Gas Limited
IGL.BO
(Bombay Stock Exchange)

Recent

price

152.45

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
12.47
17.96
24.03
27.92
26.21
26.24
27.13
32.25
41
46.08
35.08
54.77
100.62
99.62
106.52
115.5
115.39
Revenue per Share
1.86
2.19
2.53
2.57
3.2
3.27
4.33
5.16
6.02
8.92
8.38
10.73
11.71
14.18
12.27
11.07
11.06
Basic EPS, GAAP
-2.54
- -
4.59
4.63
4.74
4.67
4.82
2.92
3.4
2.84
4.74
4.01
7.92
2.16
7.39
4.2
- -
Free Cash Flow per Basic Share
0.45
0.58
0.58
0.64
0.64
0.72
1.14
0.6
1.2
1.45
1.4
1.8
9.25
2
5.25
4.75
- -
Dividend per Share
1.84
7.72
9.35
11.02
13.95
16.19
19.35
23.88
28.66
36.1
43.08
52.01
54.48
66.66
73.66
2
2
Book Value per Share
7.16
8.77
10.63
12.54
15.78
18.25
21.41
25.93
30.67
38.14
45.12
54.1
56.56
68.83
75.84
82.16
82.09
Tangible Book Value per Share
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,400
1,401
Basic Weighted Avg Shares
17,461
25,151
33,647
39,090
36,699
36,737
37,977
45,144
57,396
64,511
49,110
76,681
140,865
139,466
149,126
161,676
161,676
Sales/Revenue/Turnover
22.42
19.7
17.16
14.55
17.7
16.99
21.22
21.14
18.65
19.91
24.53
20.58
11.93
14.15
9.94
8.2
8.2
Operating Margin (%)
1,029
1,432
1,867
2,195
1,487
1,562
1,671
1,813
2,011
2,522
2,904
3,171
3,634
4,140
4,759
5,177
5,177
Depreciation Expense
2,598
3,064
3,541
3,603
4,481
4,579
6,063
7,217
8,421
12,490
11,726
15,023
16,396
19,851
17,178
15,496
15,496
Net Income, GAAP
32.65
31.92
32.95
33.26
32.75
33.35
32.92
34.15
33.65
19.76
17.54
23.09
22.74
21.99
21.51
22.24
22.25
Effective Tax Rate (%)
14.88
12.18
10.52
9.22
12.21
12.46
15.97
15.99
14.67
19.36
23.88
19.59
11.64
14.23
11.52
9.58
9.58
Profit Margin (%)
-1,224
-3,256
-2,581
-827
200
1,258
3,714
6,063
7,116
7,022
7,516
6,556
-5,048
2,834
3,293
7,481
7,481
Working Capital
2,375
3,375
3,031
2,875
1,453
- -
- -
- -
- -
762
882
781
593
565
762
808
808
LT Debt
10,039
12,289
14,930
17,632
22,148
25,704
30,117
36,470
43,157
53,580
63,344
75,860
79,312
96,498
106,425
115,250
115,250
Total Equity
24.34
22.02
20.68
18.55
19.43
16.86
19.38
18.89
17.85
21.12
16.71
17.06
16.44
17.35
11.38
9.24
9.24
Return on Invested Capital (%)
37.83
31.17
23.07
21.18
23.41
21.25
24.4
23.88
22.92
27.4
20.93
22.33
21.81
23.24
17.43
28.95
28.95
Return on Capital (%)
47.97
45.79
29.64
25.26
25.63
21.7
24.37
23.85
22.9
27.55
21.15
22.57
22
23.41
17.49
29.26
29.26
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
230
- -
169
LT Borrowings
229
- -
266
LT Finance Leases
556
- -
542
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,400
- -
1,400
Market Capitalization
292,301
272,816
204,069

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
57,662
- -
55,716
Cash, Cash Equivalents & STI
47,752
- -
45,203
Accounts Receivable, Net
8,541
- -
9,201
Inventories
585
- -
607
Total Current Liabilities
48,716
- -
48,234
Payables & Accruals
- -
- -
- -
ST Debt
230
- -
169
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.35%
12.91%
8.29%
Free Cash Flow
23.87%
41.63%
-43.14%
Net Income, GAAP
14.54%
7.01%
-9.79%
Sales/Revenue/Turnover
19.21%
30.84%
8.42%
Total Cash Common Dividend
64.53%
103.47%
-9.51%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
34,070
34,585
35,562
35,249
139,466
2025
35,166
36,934
37,549
39,476
149,126
2026
39,140
40,234
40,675
41,627
161,676

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3.73
3.95
3.39
- -
14.18
2025
3.44
3.25
2.33
3.25
12.27
2026
3.06
2.76
2.81
2.43
11.07

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2
2025
- -
- -
- -
- -
5.25
2026
- -
- -
- -
- -
4.75
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Business
Indraprastha Gas Limited (IGL), established in 1998 and headquartered at IGL Bhawan, Plot No. 4, Community Centre, Sector-9, R.K. Puram, New Delhi, India, operates as a leading city gas distribution company in India, primarily supplying compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to domestic, commercial, and industrial consumers; it sources natural gas via the Hazira-Vijaipur-Jagdishpur (HVJ) pipeline owned by GAIL (India) Limited, with which it maintains a joint venture alongside Bharat Petroleum Corporation Limited (BPCL) and the Government of Delhi. The company delivers PNG comprising mainly methane with minor higher hydrocarbons to households, hotels, restaurants, malls, commercial complexes, educational and religious institutions, and hospitals; CNG as a cleaner vehicular fuel through an extensive network of stations; and services across the National Capital Region (NCR) including Delhi, Noida, Greater Noida, Ghaziabad, Hapur, Gurugram, Meerut, Shamli, Muzaffarnagar, Karnal, Rewari, Kanpur, Hamirpur, Fatehpur, Kaithal, Ajmer, Pali, Rajsamand, Banda, and additional districts in Haryana, Rajasthan, and Uttar Pradesh. Targeting transportation, residential, commercial, and industrial markets with a focus on safe, reliable, and environmentally friendly energy solutions, IGL maintains high operational standards, including a 99.99% pipeline reliability rate. In recent developments, IGL secures board approval for an alliance-cum-partnership agreement with Saudi Arabia's Masah Construction Company to develop natural gas infrastructure, marking its first major international expansion; it forms a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) for a 500 MWp solar power plant in Bikaner, Rajasthan, at an estimated cost of Rs 2,066 crore, awaiting state cabinet approval; and sharply raises FY26 capital expenditure by 67% to over Rs 2,000 crore from Rs 1,200 crore in FY25, allocating Rs 1,400 crore to core city gas distribution expansion and Rs 600 crore to diversification including 10 compressed biogas (CBG) plants with minimum 26% equity, six to seven retail liquefied natural gas (LNG) stations, and solar initiatives to mitigate risks from electric vehicles and regulatory shifts.