BSE: 532514 | NSE: IGL | Gas Transmission/Marketing | Mid Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Indraprastha Gas Ltd is a good quality company.
The key valuation ratios of Indraprastha Gas Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Indraprastha Gas Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 31.4% | 27.4% | 31.9% | 32.3% | 31.7% | 31.2% | 24.8% | 28% | 27.9% | 29.9% | - |
| Value Creation Index ⓘ | 1.2 | 1.0 | 1.4 | 1.9 | 1.8 | 1.8 | 1.2 | 1.5 | 1.5 | 1.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 3,681 | 3,686 | 3,815 | 4,535 | 5,765 | 6,485 | 4,941 | 7,710 | 14,133 | 14,000 | 15,870 |
| Sales YoY Gr. | - | 0.1% | 3.5% | 18.9% | 27.1% | 12.5% | -23.8% | 56.1% | 83.3% | -0.9% | - |
| Adj EPS ⓘ | 6.3 | 6 | 8.2 | 9.7 | 11.3 | 16.3 | 14.4 | 18.8 | 20.7 | 25 | 23 |
| YoY Gr. | - | -4.3% | 36.2% | 18.6% | 16.3% | 44.6% | -11.7% | 30.8% | 9.9% | 21.2% | - |
| BVPS (₹) ⓘ | 30 | 36 | 41.8 | 50.2 | 59 | 72.3 | 83.9 | 99.1 | 101.2 | 122.2 | 134 |
| Adj Net Profit ⓘ | 438 | 420 | 571 | 677 | 788 | 1,140 | 1,006 | 1,316 | 1,446 | 1,752 | 1,607 |
| Cash Flow from Ops. ⓘ | 664 | 653 | 946 | 879 | 1,157 | 1,361 | 1,546 | 1,898 | 2,231 | 1,536 | - |
| Debt/CF from Ops. ⓘ | 0.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 16% | 19.4% | 41.5% | -0.9% | ||||
| Adj EPS ⓘ | 16.7% | 17.3% | 20.3% | 21.2% | ||||
| BVPSⓘ | 16.9% | 15.7% | 13.4% | 20.7% | ||||
| Share Price | 16.2% | -1% | -4.4% | -2.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 22.7 | 18.2 | 21 | 21 | 20.6 | 24.8 | 18.4 | 20.6 | 20.6 | 22.4 | 17.9 |
| Op. Profit Mgn % ⓘ | 21.7 | 21.2 | 25.4 | 25 | 22 | 23.7 | 30.3 | 24.6 | 14.5 | 17.1 | 13.9 |
| Net Profit Mgn % ⓘ | 11.9 | 11.4 | 15 | 14.9 | 13.7 | 17.6 | 20.4 | 17.1 | 10.2 | 12.5 | 10.1 |
| Debt to Equity ⓘ | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 65 | 48 | 31 | 27 | 24 | 21 | 29 | 26 | 30 | 43 | 51 |
| Cash Conv. Cycle ⓘ | 1 | 5 | -4 | -14 | -12 | -8 | -16 | -19 | -8 | -6 | 4 |
Sales growth is growing at healthy rate in last 3 years 41.51%
Net Profit is growing at healthy rate in last 3 years 20.32%
Return on Equity has declined versus last 3 years average to 17.90%
Sales growth is not so good in last 4 quarters at 1.04%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 23 | 26.4 |
| TTM Sales (₹ Cr.) | 15,870 | 15,870 |
| BVPS (₹.) ⓘ | 134 | 151 |
| Reserves (₹ Cr.) ⓘ | 9,243 | 10,428 |
| P/BV ⓘ | 2.91 | 2.58 |
| PE ⓘ | 16.98 | 14.78 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 306.50 / 570.60 |
| All Time Low / High (₹) | 11.13 / 604.00 |
| Market Cap (₹ Cr.) | 27,300 |
| Equity (₹ Cr.) | 140 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 29 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,681 | 3,686 | 3,815 | 4,535 | 5,765 | 6,485 | 4,941 | 7,710 | 14,133 | 14,000 |
| Operating Expenses ⓘ | 2,883 | 2,907 | 2,845 | 3,413 | 4,497 | 4,953 | 3,447 | 5,817 | 12,091 | 11,615 |
| Manufacturing Costs | 384 | 433 | 487 | 582 | 686 | 789 | 769 | 903 | 1,104 | 1,144 |
| Material Costs | 2,341 | 2,276 | 2,084 | 2,491 | 3,397 | 3,679 | 2,230 | 4,392 | 10,436 | 9,813 |
| Employee Cost | 66 | 78 | 92 | 106 | 143 | 152 | 134 | 176 | 188 | 227 |
| Other Costs ⓘ | 92 | 120 | 183 | 234 | 271 | 334 | 314 | 346 | 363 | 431 |
| Operating Profit ⓘ | 798 | 779 | 969 | 1,122 | 1,268 | 1,532 | 1,494 | 1,893 | 2,042 | 2,385 |
| Operating Profit Margin (%) | 21.7% | 21.1% | 25.4% | 24.7% | 22.0% | 23.6% | 30.2% | 24.5% | 14.4% | 17.0% |
| Other Income ⓘ | 35 | 30 | 65 | 100 | 146 | 156 | 150 | 215 | 276 | 363 |
| Interest ⓘ | 35 | 14 | 7 | 9 | 13 | 20 | 22 | 25 | 27 | 28 |
| Depreciation ⓘ | 149 | 156 | 167 | 181 | 201 | 252 | 290 | 317 | 363 | 414 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 649 | 638 | 861 | 1,032 | 1,200 | 1,416 | 1,331 | 1,766 | 1,928 | 2,307 |
| Tax ⓘ | 211 | 219 | 290 | 362 | 413 | 279 | 326 | 451 | 483 | 559 |
| Profit After Tax | 438 | 419 | 571 | 671 | 787 | 1,137 | 1,006 | 1,315 | 1,445 | 1,748 |
| PAT Margin (%) | 11.9% | 11.4% | 15.0% | 14.8% | 13.6% | 17.5% | 20.4% | 17.1% | 10.2% | 12.5% |
| Adjusted EPS (₹) | 6.3 | 6.0 | 8.2 | 9.6 | 11.2 | 16.2 | 14.4 | 18.8 | 20.6 | 25.0 |
| Dividend Payout Ratio (%) | 19% | 20% | 21% | 21% | 21% | 17% | 25% | 29% | 63% | 36% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 2,098 | 2,516 | 2,927 | 3,513 | 4,130 | 5,062 | 5,872 | 6,936 | 7,087 | 8,552 |
| Share Capital ⓘ | 140 | 140 | 140 | 140 | 140 | 140 | 140 | 140 | 140 | 140 |
| Reserves ⓘ | 1,958 | 2,376 | 2,787 | 3,373 | 3,990 | 4,922 | 5,732 | 6,796 | 6,947 | 8,412 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 145 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 145 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 189 | 161 | 274 | 339 | 326 | 225 | 419 | 787 | 904 | 985 |
| Others Liabilities ⓘ | 986 | 704 | 886 | 1,077 | 1,493 | 1,885 | 2,297 | 2,729 | 3,788 | 3,584 |
| Total Liabilities ⓘ | 3,419 | 3,381 | 4,086 | 4,928 | 5,949 | 7,172 | 8,587 | 10,452 | 11,779 | 13,121 |
Fixed Assets | ||||||||||
| Gross Block | 3,176 | 2,147 | 2,400 | 2,889 | 3,518 | 4,414 | 5,450 | 6,340 | 7,389 | 8,666 |
| Accumulated Depreciation | 1,220 | 128 | 282 | 457 | 642 | 857 | 1,129 | 1,338 | 1,655 | 2,067 |
| Net Fixed Assetsⓘ | 1,956 | 2,019 | 2,117 | 2,432 | 2,877 | 3,557 | 4,321 | 5,002 | 5,734 | 6,599 |
| CWIP ⓘ | 254 | 267 | 352 | 386 | 478 | 777 | 847 | 1,379 | 1,434 | 1,396 |
| Investmentsⓘ | 291 | 259 | 677 | 1,148 | 1,544 | 258 | 1,826 | 1,976 | 677 | 1,158 |
| Inventories | 41 | 58 | 52 | 52 | 51 | 51 | 46 | 46 | 49 | 52 |
| Trade Receivables | 235 | 251 | 201 | 226 | 221 | 170 | 261 | 521 | 903 | 1,019 |
| Cash Equivalents | 231 | 454 | 609 | 558 | 607 | 2,180 | 1,132 | 1,362 | 2,132 | 2,149 |
| Others Assetsⓘ | 411 | 73 | 78 | 126 | 171 | 179 | 155 | 168 | 849 | 748 |
| Total Assets ⓘ | 3,419 | 3,381 | 4,086 | 4,928 | 5,949 | 7,172 | 8,587 | 10,452 | 11,779 | 13,121 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 664 | 653 | 946 | 879 | 1,157 | 1,361 | 1,546 | 1,898 | 2,231 | 1,536 |
| PBT ⓘ | 649 | 638 | 861 | 1,032 | 1,200 | 1,416 | 1,331 | 1,766 | 1,928 | 2,307 |
| Adjustment ⓘ | 151 | 142 | 110 | 93 | 62 | 117 | 157 | 130 | 139 | 98 |
| Changes in Working Capital ⓘ | 41 | 60 | 245 | 84 | 264 | 172 | 347 | 378 | 647 | -383 |
| Tax Paid ⓘ | -177 | -187 | -269 | -330 | -369 | -344 | -289 | -376 | -483 | -487 |
| Cash Flow From Investing Activity ⓘ | -364 | -175 | -1,114 | -717 | -1,121 | -521 | -1,826 | -1,585 | -841 | -1,095 |
| Capex | -214 | -232 | -271 | -470 | -681 | -963 | -883 | -1,337 | -1,122 | -1,202 |
| Net Investments | -181 | 32 | -900 | -273 | -486 | 401 | -1,079 | -322 | 825 | -797 |
| Others ⓘ | 31 | 26 | 57 | 26 | 46 | 42 | 135 | 75 | -544 | 905 |
| Cash Flow From Financing Activityⓘ | -327 | -256 | -160 | -84 | -169 | -243 | -297 | -328 | -1,359 | -334 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -173 | -145 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -30 | -10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | -77 | -84 | -133 | -70 | -140 | -168 | -196 | -252 | -1,295 | -280 |
| Others ⓘ | -47 | -17 | -27 | -14 | -29 | -75 | -101 | -77 | -64 | -54 |
| Net Cash Flow ⓘ | -27 | 223 | -328 | 78 | -133 | 597 | -577 | -15 | 31 | 107 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 22.67 | 18.16 | 20.98 | 20.83 | 20.59 | 24.73 | 18.39 | 20.53 | 20.61 | 22.36 |
| ROCE (%) | 31.36 | 27.42 | 31.88 | 32.33 | 31.74 | 31.24 | 24.76 | 27.96 | 27.88 | 29.86 |
| Asset Turnover Ratio | 1.21 | 1.2 | 1.13 | 1.11 | 1.17 | 1.09 | 0.69 | 0.89 | 1.4 | 1.24 |
| PAT to CFO Conversion(x) | 1.52 | 1.56 | 1.66 | 1.31 | 1.47 | 1.2 | 1.54 | 1.44 | 1.54 | 0.88 | Working Capital Days |
| Receivable Days | 20 | 22 | 20 | 16 | 13 | 10 | 14 | 17 | 17 | 23 |
| Inventory Days | 4 | 4 | 5 | 4 | 3 | 3 | 3 | 2 | 1 | 1 |
| Payable Days | 29 | 28 | 38 | 45 | 36 | 27 | 53 | 50 | 30 | 35 |
Indraprastha Gas Limited (IGL) is incorporated in 1998, the company is a Joint Venture of GAIL and BPCL. Government of National Capital Territory (NCT) of Delhi is also holding 5% equity. The company was listed in stock exchange in December 2003. IGL started its operations in NCT of Delhi in 1999 with only 9 CNG stations and 1000 PNG consumers.
The project was started to lay the network for the distribution of natural gas in the National Capital Territory of Delhi to consumers in the domestic, transport, and commercial sectors. With the backing of strong promoters - GAIL (India) and Bharat Petroleum Corporation (BPCL) - IGL plans to provide natural gas in the entire capital region.
Business area of the company
The company mainly operates in two businesses, they are:
Products
PNG - PNG is mainly methane - CH4 with a small percentage of other higher hydrocarbons. The ratio of carbon to hydrogen is least in methane and hence it burns almost completely making it the cleanest fuel. It is procured from the oil / gas wells and transported through a network of pipelines across the country.
CNG - CNG stands for compressed natural gas. It is gaseous fuel and is a mixture of hydrocarbons mainly Methane. For use in Automobiles as fuel, it is compressed to a pressure of 200-250 Kg/cm² to enhance the vehicle on-board storage capacity.CNG is a fossil fuel substitute for other auto fuels such as petrol, diesel, Auto LPG etc.
Commercial & Industrial Usage - Natural gas is a versatile fuel which is gaining immense popularity for Industrial and commercial usage. Under the commercial sector all leading hotels, restaurants, malls, commercial complexes and hospitals in the Delhi & NCR are being supplied PNG by IGL. In the industrial sector, PNG is being used to run boilers, furnaces, ovens, hot water generators, thermifluid heaters, gas turbines for power generation and Vapour Absorption Machines (VAM) for heating and cooling applications. Industries have saved on cost and storage space by using PNG and in turn pollution levels have also gone down.
Awards for CSR activities:
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