NSE: IGL | BSE: 532514

Slowing Down Stock

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168.20 0.25 (0.15%)

Near 52W Low of ₹163.00

1.3M NSE+BSE Volume

NSE 20 Feb, 2026 3:31 PM (IST)

23,548

Market Cap

High in industry

Beta 1Year

High Volatility

Indraprastha Gas Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for IGL, BSE:532514 Indraprastha Gas Ltd.

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Indraprastha Gas Ltd.

14 Feb 2026

168.20

0.15%

Indraprastha Gas (IGL IN) Q3FY26 Result Update Improving volume trajectory Upgrade to Accumulate'

Accumulate: Indraprastha Gas Ltd.

Recommendation Target

Prabhudas Lilladhar

We upgrade IGL to Accumulate from Hold, supported by improving CNG volume growth and the recent correction offering a better opportunity. Total volumes grew 1.2% QoQ and 3.5% YoY. Lower gas costs aided margin recovery, with EBITDA/scm improving to Rs5.4/scm vs Rs5.2/scm QoQ and Rs4.3/scm YoY. Adjusted for one-time Rs0.3bn labour provision, adj. EBITDA/scm stood at Rs5.8/scm in Q3FY26. EBITDA stood at Rs4.7bn (+6.7% QoQ, +29.9% YoY), while PAT stood at Rs3.6bn (-3.7% QoQ, +25.5% YoY). IGL indicated that DTC...

Prabhudas Lilladhar upgraded Indraprastha Gas Ltd. to Accumulate with a price target of 191.0 on 14 Feb, 2026.

Indraprastha Gas Ltd.

13 Feb 2026

168.20

0.15%

Indraprastha Gas (BUY): Revenue miss on volume weakness

Buy: Indraprastha Gas Ltd.

Recommendation Target

BOB Capital Markets Ltd.

Revenue and EBITDA grew by 8.2%YoY and 29.9%YoY resp., driven by volume growth of 3.4%YoY and lower input gas cost

Indraprastha Gas Ltd. is trading below all available SMAs

Indraprastha Gas Ltd.

15 Nov 2025

168.20

0.15%

A muted quarter, but margins and volumes could see traction over next 12–18 months

Buy: Indraprastha Gas Ltd.

Target

ICICI Securities Limited

Indraprastha Gas (IGL) saw YoY ~17.4%/13.6% dip in Q2FY26 EBITDA/PAT to INR 4.4/INR 3.7bn, below I-Sec’s estimates of INR 5.6/INR 4bn, driven by higher gas cost with a reduction in APM and NWG’s share in Q2.

Indraprastha Gas Ltd. has an average target of 219.80 from 5 brokers.

Indraprastha Gas Ltd.

14 Nov 2025

168.20

0.15%

Margin expansion ahead!

Buy: Indraprastha Gas Ltd.

Motilal Oswal

In 2QFY26, Indraprastha Gas (IGL)’s EBITDA/scm margin came in 9% below our estimate at INR5.2, primarily driven by higher gas costs due to the rising share of R-LNG in gas sourcing.

Indraprastha Gas Ltd. is trading below all available SMAs

Indraprastha Gas Ltd.

14 Nov 2025

168.20

0.15%

Indraprastha Gas (HOLD): Performance below expectations on higher gas cost

Hold: Indraprastha Gas Ltd.

BOB Capital Markets Ltd.

Performance was weak on account of higher input gas cost, impacted by lower APM gas allocation

Indraprastha Gas Ltd. is trading below all available SMAs

Indraprastha Gas Ltd.

07 Oct 2025

168.20

0.15%

Tax tweak could deliver margin bonanza

Buy: Indraprastha Gas Ltd.

Motilal Oswal

As per media reports and our channel checks, Indraprastha Gas (IGL) could see a potential EBITDA/scm upside of 16-20% due to a change in the tax rate on gas sourced from Gujarat (official confirmation is awaited).

Number of FII/FPI investors decreased from 343 to 336 in Dec 2025 qtr

Indraprastha Gas Ltd.

31 Jul 2025

168.20

0.15%

Steady 1Q performance

Buy: Indraprastha Gas Ltd.

Target

Motilal Oswal

In 1QFY26, IGL’s EBITDA margin of INR6.2/scm came in below our est. of INR6.8/scm. Volumes at 9.13mmscmd stood in line with our estimate.

Indraprastha Gas Ltd. is trading below all available SMAs

Indraprastha Gas Ltd.

23 May 2025, 12:00AM

168.20

0.15%

INDRAPRASTHA GAS LTD

Sell: Indraprastha Gas Ltd.

Recommendation Target

Geojit BNP Paribas

*over or under performance to benchmark index IGL's dependence on higher-cost alternatives to offset lower APM allocations could impact margins. Although the guidance is bullish, with management aiming for an EBITDA margin of 78/scm in the long term, medium-term profitability risks persistespecially if the company is unable to implement price hikes. The Delhi EV 2.0 policy also remains an overhang, keeping the company out of favor. Therefore,...

Number of FII/FPI investors decreased from 343 to 336 in Dec 2025 qtr

Indraprastha Gas Ltd.

29 Apr 2025

168.20

0.15%

Healthy volume growth; margins to improve despite further APM cuts

Buy: Indraprastha Gas Ltd.

ICICI Securities Limited

Indraprastha Gas (IGL) reported ~27/31% dip in Q4FY25 EBITDA/PAT, but earnings were still ahead of I-Sec estimates, helped by a small beat on adjusted EBITDA/scm (INR 4.6/scm vs I-Sec est of INR 4.3/scm).

Prabhudas Lilladhar upgraded Indraprastha Gas Ltd. to Accumulate with a price target of 191.0 on 14 Feb, 2026.

Indraprastha Gas Ltd.

28 Apr 2025

168.20

0.15%

Margin expansion ahead; valuation looks attractive

Buy: Indraprastha Gas Ltd.

Motilal Oswal

In 4QFY25, IGL’s adj. EBITDA margin of INR4.6/scm came in below our est. of INR5/scm. Volumes stood at 9.18mmscmd, slightly lower than our est. of 9.29mmscmd.

Indraprastha Gas Ltd. has an average target of 219.80 from 5 brokers.

Is Indraprastha Gas Ltd. worth buying?

756 Votes:

Buy 81.08%

Sell 10.85%

Hold 8.07%

RESEARCH REPORTS

Accumulate SEE REPORTS >

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Buy SEE REPORTS >

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