Established in 1998, Indraprastha Gas plays a pivotal role in revolutionizing urban energy landscapes. Focused on city gas distribution, it serves as a lifeline for the National Capital Territory of Delhi and extends its reach to neighboring areas like Noida, Greater Noida, Ghaziabad, Hapur, Gurugram, Meerut, Shamli, Kanpur, Muzaffarnagar, Karnal, Rewari, Hamirpur, Fatehpur, Ajmer, Pali, and Rajasmand.
This article delves into the comprehensive aspects of Indraprastha Gas, exploring its contributions, services, and impact on the regions it serves, offering readers a deeper understanding of its role in shaping the energy infrastructure of the region.
About Indraprastha Gas
Established as a joint venture by GAIL (India) Limited and Bharat Petroleum Corporation (BPCL), with a 5% equity held by the Government of NCT of Delhi, Indraprastha Gas Limited (IGL) has emerged as a pioneering force in City Gas Distribution (CGD) in India. With an extensive network, IGL serves over 1.1 million CNG vehicles, 1.4 million domestic PNG customers, and more than 5,500 commercial and industrial clients. Notably, in the fiscal year 2019-20, IGL achieved a significant milestone by establishing its 550th CNG station.
The company operates across three key business segments: Piped Natural Gas (PNG), Compressed Natural Gas (CNG), and natural gas for commercial and industrial usage. Expanding its reach, IGL has increased its steel pipeline network to 1,150 km and MDPE network to 13,455 km in FY20, boasting 13.74 lakh connections in Delhi and other regions. The introduction of innovative services, such as prepaid cards and a focus on digital payments, has contributed to a 33% increase in digital payment collections, reflecting IGL’s commitment to technological advancements in the energy sector.
Additionally, IGL’s industrial customer base expanded to 2,435, while the commercial customer base increased to 3,143 during the same fiscal year, underscoring its impact on diverse sectors.
Indraprastha Gas Q3 FY 2023-24 Financial Highlights
- Consolidated Net Profit: Recorded a substantial 42% YoY increase, reaching Rs 475.45 crore.
- Sequential Net Profit Decline: Experienced a 14% QoQ decline, falling from Rs 552.67 crore in Q2 FY 2023-24.
- Revenue from Operations: Stood at Rs 3,926.19 crore, indicating a 4% decrease compared to the previous year’s Rs 4,089.03 crore.
- EBITDA: Demonstrated a notable growth of 30%, reaching Rs 702.65 crore, compared to Rs 540.01 crore in the corresponding quarter of the previous fiscal year.
- Total Volume Growth: Witnessed a 4% YoY increase, reaching 8.48 mmscmd (million metric standard cubic meters per day).
- CNG Volumes: Grew by 4% YoY, totaling 582.19 million scm (standard cubic meters).
- PNG (Domestic) and PNG (Industrial/Commercial): Showed 11% and 4% YoY growth in volumes, respectively.
- Share Performance: At 1:55 pm, IGL shares traded at Rs 419.95 apiece on the BSE, reflecting a 3.40% decrease from the previous day’s close.
Below are the trading platforms that you can use to purchase IGL shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| January 2024 | 437.40 | 380.35 |
| February 2024 | 446.33 | 388.11 |
| March 2024 | 455.44 | 396.03 |
| April 2024 | 442.17 | 384.50 |
| May 2024 | 435.64 | 378.81 |
| June 2024 | 451.32 | 392.45 |
| July 2024 | 446.81 | 388.53 |
| August 2024 | 464.68 | 404.07 |
| September 2024 | 483.26 | 420.23 |
| October 2024 | 473.79 | 411.99 |
| November 2024 | 488.00 | 424.35 |
| December 2024 | 500.20 | 434.96 |
Indraprastha Gas Limited (IGL) projects a promising trajectory in 2024, with a steadily increasing share price forecast. The anticipated range for the stock reflects optimistic growth, reaching a maximum of ₹500.20 and a minimum of ₹378.81 by December.
As of January 25, 2024, the current price stands at ₹405, showcasing resilience in the market. With a Market Cap of ₹28,361 Cr., IGL maintains a stock P/E of 16.7, a book value of ₹115, and offers a dividend yield of 3.21%. The company’s robust financial metrics, including a high ROCE of 26.7% and ROE of 20.0%, position it as a strong contender in the market with a face value of ₹2.00.
| When | Maximum Price | Minimum Price |
| January 2025 | 510.21 | 392.47 |
| February 2025 | 523.29 | 402.53 |
| March 2025 | 543.70 | 418.23 |
| April 2025 | 533.04 | 410.03 |
| May 2025 | 517.51 | 398.09 |
| June 2025 | 540.80 | 416.00 |
| July 2025 | 530.20 | 407.84 |
| August 2025 | 546.59 | 420.46 |
| September 2025 | 565.72 | 435.17 |
| October 2025 | 580.43 | 446.49 |
| November 2025 | 594.94 | 457.65 |
| December 2025 | 609.82 | 469.09 |
Indraprastha Gas Limited (IGL) anticipates a robust performance in 2025, with projected share prices indicating a promising upward trajectory. The forecast suggests a potential high of ₹609.82 and a low of ₹392.47 by December 2025, showcasing sustained investor confidence.
Notably, IGL has clinched a substantial bulk order from the armed forces, directing the conversion of their canteens, langars, officers’ mess, and other facilities from LPG to PNG. This strategic move underscores IGL’s expanding market footprint.
Additionally, in collaboration with Indian Oil Corporation, IGL is pioneering the establishment of an H-CNG station at Rajghat for DTC buses, marking a groundbreaking initiative in the country.
| When | Maximum Price | Minimum Price |
| January 2026 | 628.11 | 483.16 |
| February 2026 | 644.22 | 495.55 |
| March 2026 | 669.34 | 514.88 |
| April 2026 | 656.22 | 504.78 |
| May 2026 | 637.10 | 490.08 |
| June 2026 | 665.77 | 512.13 |
| July 2026 | 652.72 | 502.09 |
| August 2026 | 672.91 | 517.62 |
| September 2026 | 696.46 | 535.74 |
| October 2026 | 714.57 | 549.67 |
| November 2026 | 732.43 | 563.41 |
| December 2026 | 750.74 | 577.49 |
In 2026, Indraprastha Gas Limited (IGL) foresees a prosperous year with its projected share prices indicating a positive trend. The forecast suggests a potential high of ₹750.74 and a low of ₹483.16 by December 2026, highlighting sustained growth and investor optimism. Beyond financial milestones, IGL is strategically diversifying its offerings with plans to introduce mobile CNG dispensing units, promoting gas usage in household appliances.
Additionally, the company aims for backward integration by establishing a gas meter manufacturing unit in India. IGL’s forward-thinking approach extends to providing consultancy services, leveraging its expertise and execution capabilities to assist in the setup of City Gas Distribution (CGD) projects. These initiatives signify IGL’s commitment to innovation and comprehensive industry involvement.
| When | Maximum Price | Minimum Price |
| January 2027 | 765.76 | 589.04 |
| February 2027 | 785.39 | 604.15 |
| March 2027 | 816.02 | 627.71 |
| April 2027 | 800.02 | 615.40 |
| May 2027 | 776.72 | 597.48 |
| June 2027 | 811.67 | 624.36 |
| July 2027 | 795.76 | 612.12 |
| August 2027 | 820.37 | 631.05 |
| September 2027 | 849.08 | 653.14 |
| October 2027 | 871.16 | 670.12 |
| November 2027 | 892.93 | 686.87 |
| December 2027 | 915.26 | 704.04 |
In 2027, Indraprastha Gas sets an ambitious outlook for its share prices, projecting a maximum of ₹915.26 and a minimum of ₹589.04 by December. This forecast underscores a consistent upward trend, reflecting the company’s sustained growth and investor confidence. Beyond financial milestones, IGL is actively pursuing expansion through mergers and acquisitions, demonstrating its commitment to strategic growth. The allocation of a significant capital outlay of Rs 1,370 Cr for new ventures during FY 2020-21 underscores IGL’s dedication to advancing its footprint.
Additionally, IGL’s influence extends to two associate companies, Central U.P. Gas Limited (CUGL) and Maharashtra Natural Gas Limited (MNGL), showcasing a diverse presence in City Gas Distribution across various regions. IGL’s holistic approach, incorporating financial foresight and strategic expansion, positions it as a key player in the energy sector.
| When | Maximum Price | Minimum Price |
| January 2028 | 933.56 | 718.13 |
| February 2028 | 957.50 | 736.54 |
| March 2028 | 994.84 | 765.26 |
| April 2028 | 975.34 | 750.26 |
| May 2028 | 946.93 | 728.41 |
| June 2028 | 989.54 | 761.18 |
| July 2028 | 970.14 | 746.26 |
| August 2028 | 1,000.14 | 769.34 |
| September 2028 | 1,035.15 | 796.27 |
| October 2028 | 1,062.06 | 816.97 |
| November 2028 | 1,088.61 | 837.39 |
| December 2028 | 1,115.83 | 858.33 |
- January 2028: ₹718.13 (Minimum)
- December 2028: ₹1,115.83 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2029 | 1,138.14 | 875.50 |
| February 2029 | 1,167.33 | 897.94 |
| March 2029 | 1,212.85 | 932.96 |
| April 2029 | 1,189.07 | 914.67 |
| May 2029 | 1,154.44 | 888.03 |
| June 2029 | 1,206.39 | 927.99 |
| July 2029 | 1,182.73 | 909.80 |
| August 2029 | 1,219.31 | 937.93 |
| September 2029 | 1,261.99 | 970.76 |
| October 2029 | 1,294.80 | 996.00 |
| November 2029 | 1,327.17 | 1,020.90 |
| December 2029 | 1,360.35 | 1,046.42 |
- January 2029: ₹875.50(Minimum)
- December 2029: ₹1,360.35 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2030 | 1,387.56 | 1,067.35 |
| February 2030 | 1,423.14 | 1,094.72 |
| March 2030 | 1,478.64 | 1,137.41 |
| April 2030 | 1,449.64 | 1,115.11 |
| May 2030 | 1,407.42 | 1,082.63 |
| June 2030 | 1,470.76 | 1,131.35 |
| July 2030 | 1,441.92 | 1,109.17 |
| August 2030 | 1,486.51 | 1,143.47 |
| September 2030 | 1,538.54 | 1,183.49 |
| October 2030 | 1,578.54 | 1,214.26 |
| November 2030 | 1,618.01 | 1,244.62 |
| December 2030 | 1,658.46 | 1,275.74 |
- January 2030: ₹1,067.35 (Minimum)
- December 2030: ₹1,658.46 (Maximum)
Indraprastha Gas Financial Condition: Last 5 Years
| Financials | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Sales (Rs. Cr.) | 5,765 | 6,485 | 4,941 | 7,710 | 14,146 |
| Expenses (Rs. Cr.) | 4,506 | 4,949 | 3,446 | 5,816 | 12,088 |
| Operating Profit (Rs. Cr.) | 1,259 | 1,536 | 1,495 | 1,894 | 2,058 |
| OPM (%) | 22 | 24 | 30 | 25 | 15 |
| Other Income (Rs. Cr.) | 144 | 152 | 149 | 213 | 260 |
| Interest (Rs. Cr.) | 2 | 20 | 22 | 25 | 27 |
| Depreciation (Rs. Cr.) | 201 | 252 | 290 | 317 | 363 |
| Profit before tax (Rs. Cr.) | 1,200 | 1,416 | 1,331 | 1,766 | 1,928 |
| Tax % | 34 | 20 | 24 | 26 | 25 |
| Net Profit (Rs. Cr.) | 787 | 1,137 | 1,006 | 1,315 | 1,445 |
| EPS (Rs.) | 11.24 | 16.24 | 14.37 | 18.78 | 20.64 |
| Dividend Payout (%) | 21 | 17 | 25 | 29 | 63 |
- Over the past five years, Indraprastha Gas has demonstrated robust financial performance with notable growth in sales, operating profit, and net profit.
- Sales surged from Rs. 5,765 Crores in 2019 to Rs. 14,146 Crores in 2023, indicating a substantial uptrend.
- Despite increased expenses, the company maintained a healthy operating profit margin, reflecting efficient cost management.
- Net profit witnessed consistent growth, rising from Rs. 787 Crores in 2019 to Rs. 1,445 Crores in 2023, showcasing sustained profitability.
- Compounded sales and profit growth rates for the specified periods highlight the company’s resilience and strategic management.
- However, the stock price CAGR has experienced fluctuations, particularly in the last three and one year.
- Indraprastha Gas has consistently maintained a solid Return on Equity, standing at 20% in the last year, reflecting stable performance.
FAQs
What is the current market cap of Indraprastha Gas?
The current market capitalization of Indraprastha Gas stands at ₹28,361 Crores.
As of January 25, 2024, the current share price of Indraprastha Gas is ₹405.
What is the current Price-to-Earnings (P/E) ratio of Indraprastha Gas?
Indraprastha Gas maintains a current stock P/E ratio of 16.7.
What is the dividend yield offered by Indraprastha Gas?
Indraprastha Gas provides a dividend yield of 3.21%.
The projected share price for Indraprastha Gas in December 2024 ranges from ₹380.35 to ₹500.20.
The share price target for Indraprastha Gas in December 2025 ranges from ₹392.47 to ₹609.82.
How does Indraprastha Gas plan to grow in 2027?
Indraprastha Gas aims for expansion through mergers and acquisitions, with a capital outlay of Rs 1,370 Cr earmarked for new ventures during FY 2020-21.
What are the compounded sales and profit growth rates for Indraprastha Gas?
Over the last ten years, Indraprastha Gas has demonstrated a compounded sales growth rate of 15%, a compounded profit growth rate of 15%, and a return on equity of 20%.
What is the company’s strategy for 2030?
In 2030, Indraprastha Gas envisions a share price ranging from ₹1,067.35 to ₹1,658.46, with plans for expansion, strategic initiatives, and sustained growth.
Also Read
- TECH MAHINDRA PRICE TARGET 2024, 2025, 2026 to 2030
- BAJAJ AUTO SHARE PRICE TARGET 2024, 2025, 2026 TO 2030
- Tata Technologies Share Price Target 2024, 2025, 2026 To 2030
Conclusion: Nurturing Sustainable Growth and Financial Prudence
In conclusion, Indraprastha Gas Limited stands as a cornerstone in reshaping the energy landscape of India, specifically in the National Capital Territory of Delhi and its neighboring regions. Established in 1998, the company, a joint venture between GAIL (India) Limited and Bharat Petroleum Corporation, has played a pivotal role in City Gas Distribution (CGD) and demonstrated unwavering commitment to technological innovation.
The comprehensive exploration of IGL’s financials reveals a robust performance over the past five years, marked by significant growth in sales and net profit. Furthermore, the company’s foresight in reducing debt, nearly achieving a debt-free status, underscores its commitment to financial prudence.
Investors are drawn not only to the promising trajectory of IGL’s share prices, reaching anticipated highs of ₹750.74 by 2026 and ₹1,658.46 by 2030 but also to the stock’s current resilience in the market. With a dividend yield of 3.21%, IGL provides investors with an attractive income stream. The consistent dividend payout of 39.1% further solidifies its reputation as a reliable investment.
As IGL continues to diversify its offerings, explore new ventures, and pursue strategic initiatives, the company appears poised for sustained growth, making it a compelling choice for investors eyeing long-term stability and returns in the dynamic energy sector.
What did we learn?
- 1 About Indraprastha Gas
- 2 Indraprastha Gas Q3 FY 2023-24 Financial Highlights
- 3 How to Purchase Indraprastha Gas Shares?
- 4 Indraprastha Gas Share Price Target 2024 – 2030
- 4.1 Indraprastha Gas Share Price Target 2024
- 4.2 Indraprastha Gas Share Price Target 2025
- 4.3 Indraprastha Gas Share Price Target 2026
- 4.4 Indraprastha Gas Share Price Target 2027
- 4.5 Indraprastha Gas Share Price Target 2028
- 4.6 Indraprastha Gas Share Price Target 2029
- 4.7 Indraprastha Gas Share Price Target 2030
- 5 Indraprastha Gas Financial Condition: Last 5 Years
- 6 FAQs
- 6.1 What is the current market cap of Indraprastha Gas?
- 6.2 What is the current share price of Indraprastha Gas?
- 6.3 What is the current Price-to-Earnings (P/E) ratio of Indraprastha Gas?
- 6.4 What is the dividend yield offered by Indraprastha Gas?
- 6.5 What is the 2024 share price target range for Indraprastha Gas?
- 6.6 What is the share price target for 2025?
- 6.7 How does Indraprastha Gas plan to grow in 2027?
- 6.8 What are the compounded sales and profit growth rates for Indraprastha Gas?
- 6.9 What is the company’s strategy for 2030?
- 7 Conclusion: Nurturing Sustainable Growth and Financial Prudence
