Indraprastha Gas Ltd. News and Updates

Name: Latest research reports of Indraprastha Gas Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Indraprastha Gas Ltd.
Rating: 3
Author: ICICI Securities Limited

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Indraprastha Gas Ltd.

16 Aug 2019

202.89

-1.16%

Indraprastha Gas

Hold: Indraprastha Gas Ltd.

Target

ICICI Securities Limited

IGL continued to report stable growth rate on the volumes front, which grew 13.4% YoY to 6.3 mmscmd. The rise in environment awareness & regulations has prompted the need for CNG conversions in Delhi, thus benefiting IGL's CNG volumes at 4.7 mmscmd in Q1FY20 (up 13.7% YoY). On the PNG front, volumes increased 12.4% YoY to 1.6 mmscmd marginally below our estimates of 1.7 mmscmd. Higher volumes from Noida, Ghaziabad, Gurugram, Rewari and other new areas gives visibility for volume growth over the next two years. We estimate sales volumes at 6.5...

Indraprastha Gas Ltd. has gained 16.10% in the last 1 Month

Indraprastha Gas Ltd.

14 Aug 2019

202.89

-1.16%

Indraprastha Gas profit up 31% at 245 crore in Q1

Business Line

Indraprastha Gas Ltd (IGL) has reported a consolidated net profit of 245 crore for the quarter ended June 30, a 31 per cent rise from a net profit

Indraprastha Gas Ltd. is trading below its 200 day SMA of 218.3

Indraprastha Gas posts 24% rise in net profit to Rs 218 cr on higher sales

Business Standard | 14 Aug 2019

Indraprastha Gas Ltd.

14 Aug 2019

202.89

-1.16%

Strong volume growth continues

Neutral: Indraprastha Gas Ltd.

Recommendation Target

Motilal Oswal

High volume growth combined with expansion in EBITDA/scm, resulted in IGL's EBITDA increasing 21% YoY to INR3.6b (v/s est. INR3.4b). Much higher depreciation and interest cost combined with lower-than-expected other income resulted in PAT growing 24% YoY to INR2.2b (in-line). Strong CNG/PNG volume growth: Total volumes were at 6.3mmscmd in 1QFY20 v/s 5.6mmscmd in 1QFY19. CNG sales volumes were up 13% YoY to 4.7mmscmd in the quarter, while PNG sales grew 12% YoY to 1.6mmscmd....

Indraprastha Gas Ltd. has an average target of 234.67 from 7 brokers.

Indraprastha Gas Ltd.

14 Aug 2019

202.89

-1.16%

Q1FY20 Result Update

Buy: Indraprastha Gas Ltd.

Target

Prabhudas Lilladhar

Introduction of natural gas to GST will add volume momentum. We maintain our estimates for FY20 & FY21. IGL remains a play on rising pollution concerns. Expanding geographical reach coupled with increased cars/taxis conversion and new bus additions in Delhi will drive earnings. Also, report of ban on competing industrial fuel is a major positive. We see...

Indraprastha Gas Ltd. has an average target of 234.67 from 7 brokers.

Indraprastha Gas Ltd.

14 Aug 2019

202.89

-1.16%

Indraprastha Gas (BUY): Volumes robust, margins improve

Buy: Indraprastha Gas Ltd.

Target

BOB Capital Markets Ltd.

Indraprastha Gas' (IGL) Q1FY20 earnings were in line at Rs 2.2bn (+24% YoY).

Number of FII/FPI investors decreased from 305 to 277 in Mar 2025 qtr

Indraprastha Gas Ltd.

02 Aug 2019

202.89

-1.16%

Petronet joins hands with IGL and GSPC to sell liquefied natural gas

Business Standard

Company CEO Prabhat Singh said it was in the final stages of inviting bids to set up Liquefied natural gas (LNG) outlets

Indraprastha Gas Ltd. has gained 16.10% in the last 1 Month

Indraprastha Gas Ltd.

25 Jul 2019

202.89

-1.16%

Indraprastha Gas (Update): Entrenched advantage. Maintain BUY

Buy: Indraprastha Gas Ltd.

Target

HDFC Securities

Entering new GAs is a better bet for new entrants, rather than competing with incumbents, given (1) Assurance on APM gas allocation, and (2) Marketing and infrastructure exclusivity. Hence, we do not foresee material threat to business. IGL generates OCF yield of almost 5.5% and RoIC of >30% over FY20/21E. Valuations are contextually moderate at 22.0x FY21E EPS. Maintain BUY with a TP of Rs 384/sh. Investors have recently expressed concerns over looming competitive risks for Indian CGD players such as IGL, MGL, GGL and Adani Gas. We met the management of IGL to discuss PNGRBs concept paper (refer annexure) on network/compression tariffs chargeable by incumbents. While PNGRBs intent seems noble, there is lack of clarity on domestic gas allocation to new entrants entering established Geographical Areas (GAs). New entrants will thus focus more on bidding for upcoming GAs, instead of competing with incumbents in established GAs.

Indraprastha Gas Ltd. has an average target of 234.67 from 7 brokers.

Indraprastha Gas Ltd.

09 Jul 2019

202.89

-1.16%

Indraprastha Gas (BUY): Volume concerns seem exaggerated

Buy: Indraprastha Gas Ltd.

BOB Capital Markets Ltd.

Key takeaways from our meeting with the Indraprastha Gas (IGL) management: (a) buoyant volume growth outlook to sustain at >10% CAGR over FY18FY21; (b) limited impact from PNGRB concept paper (read our analysis here) that paves the way for competition in existing areas, as tariff calculations remain uncertain; and (c) stable operating margin outlook as primary focus remains on expanding volumes. Recent volume growth, if sustained, may carry earnings...

Indraprastha Gas Ltd. has an average target of 234.67 from 7 brokers.

Indraprastha Gas Ltd.

03 Jul 2019

202.89

-1.16%

CNG price in Delhi hiked by 90 paise, 7th increase since April 2018

Business Today

Indraprastha Gas Ltd, the sole supplier of CNG to automobiles in the national capital region, said the increase was warranted because of "recent changes in transmission tariffs of gas pipeline."