NSE: IGL | BSE: 532514

Turnaround Potential

Download real time

222.23 -5.75 (-2.52%)

45.20% Gain from 52W Low

2.2M NSE+BSE Volume

NSE 09 Jul, 2025 3:31 PM (IST)

31,112.2

Market Cap

Above industry Median

1.1

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.

Indraprastha Gas Ltd.

16 Aug 2019

222.23

-2.52%

Indraprastha Gas (1QFY20): Never fails to exceed expectations. Maintain BUY

Buy: Indraprastha Gas Ltd.

Target

HDFC Securities

We expect a volume growth of 11% YoY over FY19-21E. The robustness of business enables the company to maintain stable per unit EBITDA spread of ~Rs 6/scm. The company generates OCF yield of almost 5.5% and RoIC of >30% over FY20/21E. Valuations are contextually moderate at 22.5x FY21E EPS. Maintain BUY. We maintain BUY on IGL following its stellar performance in 1QFY20. Our target price is Rs 402/sh (25x Jun-21E standalone EPS and 23x Jun-21E MNGL and CUGL).

Indraprastha Gas Ltd. has an average target of 205.25 from 7 brokers.

Indraprastha Gas Ltd.

16 Aug 2019

222.23

-2.52%

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 an average target of 205.25 from 7 brokers.

Indraprastha Gas Ltd.

14 Aug 2019

222.23

-2.52%

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).

Indraprastha Gas Ltd. has gained 23.35% in the last 3 Months

Indraprastha Gas Ltd.

14 Aug 2019

222.23

-2.52%

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. is trading above all available SMAs

Indraprastha Gas Ltd.

14 Aug 2019

222.23

-2.52%

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. is trading above all available SMAs

Indraprastha Gas Ltd.

25 Jul 2019

222.23

-2.52%

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. is trading above all available SMAs

Indraprastha Gas Ltd.

09 Jul 2019, 12:00AM

222.23

-2.52%

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 205.25 from 7 brokers.

Indraprastha Gas Ltd.

27 May 2019

222.23

-2.52%

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 an average target of 205.25 from 7 brokers.

Indraprastha Gas Ltd.

27 May 2019

222.23

-2.52%

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 23.35% in the last 3 Months

Indraprastha Gas Ltd.

27 May 2019

222.23

-2.52%

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. has gained 23.35% in the last 3 Months

Is Indraprastha Gas Ltd. worth buying?

730 Votes:

Buy 81.64%

Sell 10.55%

Hold 7.81%

RESEARCH REPORTS

Sell SEE REPORTS >

pdf

Buy SEE REPORTS >

pdf