Indraprastha Gas Ltd. News and Updates

Name: Latest research reports of Indraprastha Gas Ltd. authored by HDFC Securities and published by - Trendlyne research reports.
Item: Indraprastha Gas Ltd.
Rating: 5
Author: HDFC Securities

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Indraprastha Gas Ltd.

27 May 2019

212.67

1.66%

Indraprastha Gas (4QFY19): Remarkable volume growth. Maintain BUY

Buy: Indraprastha Gas Ltd.

Target

HDFC Securities

We do not foresee any crucial regulatory adversity in CGD either through a change in gas allocation or capping returns because the superior returns in CGD will be reinvested and will help increase the share of gas in India's energy mix to 20% (from 6% currently) by 2025 We maintain BUY on IGL after an in-line 4QFY19. Our target is Rs 385/sh (25x Mar-21E standalone EPS and 23x Mar-21E for its subsidiaries, MNGL and CUGL).

Indraprastha Gas Ltd. has gained 30.86% in the last 6 Months

Indraprastha Gas Ltd.

27 May 2019

212.67

1.66%

IGL

Buy: Indraprastha Gas Ltd.

Target

Dolat Capital

Volume growth stronger than expected. Spreads Muted. Maintain BUY. IGL volume at 6.27 MMSCMD with realizations of ` 27.2 per SCM (up 7.3% YoY) was ahead of estimates. Volume growth was spurred by strong performance in the industrial segment. Gas cost also reduced 3.9% sequentially. Gross spreads were strong at ` 11.2 per SCM. We believe that gas cost should increase sequentially and IGL has taken adequate price hikes to maintain / expand spreads. Volume growth outlook looks good and we believe that IGL should be able to maintain double-digit volume...

Indraprastha Gas Ltd. is trading below its 200 day SMA of 217.0

Indraprastha Gas Ltd.

27 May 2019

212.67

1.66%

Indraprastha Gas

Hold: Indraprastha Gas Ltd.

Target

ICICI Securities Limited

IGL continued to report strong growth rate on the volumes front, up 15.9% 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 4.6 mmscmd in Q4FY19 up 13.1% YoY. On the PNG front, volumes increased 20.2% YoY to 1.7 mmscmd. Delhi's green budget with plans to provide concession of 50% on registrations of CNG cars will promote the cleaner fuel. Also, the relatively high petrol and diesel prices favour IGL's volume growth. We estimate sales volumes at 6.6 mmscmd and...

Indraprastha Gas Ltd. has gained 20.19% in the last 1 Month

Indraprastha Gas Ltd.

25 May 2019

212.67

1.66%

Indraprastha Gas (BUY): Volumes surge but margins remain flat

Buy: Indraprastha Gas Ltd.

BOB Capital Markets Ltd.

Indraprastha Gas' (IGL) Q4FY19 consolidated earnings were in line at Rs 2.4bn (+24% YoY). IGL's core volumes at 6.3mmscmd (+17% YoY) outperformed our estimate of 5.9mmscmd, driven by a surge in CNG (+15% YoY) and industrial PNG (+30% YoY). However, EBITDA underperformed at Rs 5.9/scm, as the company prioritises volume expansion over margins. We cut FY20/FY21 earnings by 10.6%/12.3% as we trim margins. Our DCF-based...

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

Indraprastha Gas Ltd.

25 May 2019

212.67

1.66%

Q4FY19 Result Update

Buy: Indraprastha Gas Ltd.

Prabhudas Lilladhar

conversion and new bus addition in Delhi will drive earnings. Also, report of ban on competing industrial fuel is a major positive. Reiterate BUY with a three-year DCF-based PT of Rs360. Stellar volume growth remain the highlight: Indraprastha Gas' (IGL's) Q4FY19 volume momentum remains intact- overall sales volume growth was at 564mscm (17% YoY). Q4 EBITDA and PAT of Rs3.3bn (PLe: Rs3.3bn; +14%YoY) and Rs2.25bn (PLe: Rs2.13; +29% YoY). For FY19, EBIDTA and PAT was at Rs12.5bn (+12%YoY) and Rs7.9bn (+17%YoY)...

Indraprastha Gas Ltd. is trading below its 200 day SMA of 217.0

Indraprastha Gas Ltd.

24 May 2019

212.67

1.66%

IGL Q4 net up 29%

Business Line

Board recommends 120% dividend

Indraprastha Gas Ltd. has gained 20.19% in the last 1 Month

Indraprastha Gas Ltd.

24 May 2019

212.67

1.66%

Increased volumes offset by lower EBITDA/scm

Buy: Indraprastha Gas Ltd.

Target

Motilal Oswal

EBITDA increased 20% YoY (+4% QoQ) to INR3.3b (our estimate of INR3.4b) in 4QFY19, led by higher volume growth. However, EBITDA/scm declined marginally to INR5.9 (our estimate: INR6.3, 4QFY18: INR5.7; 3QFY19: INR5.9) due to higher costs. Notably, IGL did not take any price hike in the quarter. Increased other income, though, led to higher-than-expected PAT of INR2.3b (+29% YoY; our estimate: INR2.2b). Volumes increased 17% YoY (+6% QoQ) to 6.3mmscmd (5% beat). CNG volumes were at 4.6mmscmd (+16% YoY, +5% QoQ), while PNG volumes...

Indraprastha Gas Ltd. is trading below its 200 day SMA of 217.0

Indraprastha Gas Ltd.

10 Apr 2019

212.67

1.66%

IGL launches lighter cylinders for bulk gas transport on trucks

Business Line

Access to natural gas will now be easier for consumers of Indraprastha Gas Ltd (IGL) with the introduction of newer cylinders. The new Type 3 cylinder

Indraprastha Gas Ltd. is trading below its 200 day SMA of 217.0

Indraprastha Gas Ltd.

09 Apr 2019

212.67

1.66%

First Light: Weekly Eco Wrap, Indraprastha Gas

Buy: Indraprastha Gas Ltd.

Recommendation

BOB Capital Markets Ltd.

Global growth showed signs of respite with manufacturing activity improving in both US and China. It may not last long. Global services PMI also improved in Mar'19. This along with prospects of US-China trade deal and rising crude prices (up 3% to US$ 70/bbl) led to higher yields. Equity indices also went up. RBI's dovish outlook to boost growth through lower real rates supported domestic markets. INR depreciated amidst FII outflows. RBI's second...

Indraprastha Gas Ltd. is trading above its 150 day SMA of 198.9

Indraprastha Gas Ltd.

08 Apr 2019

212.67

1.66%

Indraprastha Gas (BUY): MNGL management meet takeaways

Sell: Indraprastha Gas Ltd.

Recommendation

BOB Capital Markets Ltd.

We met the management of Maharashtra Natural Gas (MNGL), where Indraprastha Gas (IGL) owns 50% stake. Key takeaways: Surge in volumes from existing areas of operations: MNGL's volumes from existing areas (primarily Pune city/Chakan) are currently trending at ~0.85mmscmd (+40% YoY), dominated by CNG (63% of total volumes). MNGL has commissioned ~20 new CNG stations in FY19 (taking the count to 72), and plans to ramp up the station count to 100 by FY22 in existing areas. Similarly, domestic PNG volumes have ample scope for expansion. MNGL sees...

Indraprastha Gas Ltd. has gained 30.86% in the last 6 Months

Is Indraprastha Gas Ltd. worth buying?

720 Votes:

Buy 81.53%

Sell 10.56%

Hold 7.92%

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