NSE: IGL | BSE: 532514

Mid-range Performer

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226.10 6.63 (3.02%)

47.73% Gain from 52W Low

10.3M NSE+BSE Volume

NSE 04 Jul, 2025 1:24 PM (IST)

31,654

Market Cap

Above industry Median

1.1

Beta 1Year

Average 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.

15 Feb 2021

226.10

3.02%

INDRAPRASTHA GAS LTD

Buy: Indraprastha Gas Ltd.

Target

Geojit BNP Paribas

Improved capacity utilization, easing of COVID restrictions and institutions reopening will support the company's operational and financial performance in the near future. Hence, we reiterate BUY rating...

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

Indraprastha Gas Ltd.

12 Feb 2021

226.10

3.02%

Indraprastha Gas

Hold: Indraprastha Gas Ltd.

Target

ICICI Securities Limited

Gross margins in Q3FY21 were at | 14.4/scm (up | 2.8/scm YoY and | 0.8/scm QoQ) above our estimates due to lower than expected gas costs. Subsequently, the company reported strong EBITDA/scm at | 8.7/scm, up | 2.3/scm YoY and | 0.6/scm QoQ. With increase in petrol and diesel prices, the competitive advantage of CNG increased substantially over past few months. Hence, we believe that IGL will be able to pass on higher costs to customers in future. Going forward, on account of increase in LNG prices, we expect gross margins to decline from current high levels. Subsequently,...

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

Indraprastha Gas Ltd.

11 Feb 2021

226.10

3.02%

Miss on EBITDA due to lower CNG volumes

Neutral: Indraprastha Gas Ltd.

Target

Motilal Oswal

OMCs have been in talks with CGDs to increase commissions to sell CNG at their ROs. We may see a hike in rentals for IGL soon. We build in EBITDA/scm of INR6.7/INR6.4 (unchanged) for FY22/FY23, factoring in a rise in rentals to OMCs as well as APM cost which the company may not be able to fully pass on to consumers. The stock trades at a ~69% premium to GUJGA, which has similar volume growth potential for a 1012% CAGR over the medium term, despite a much larger base. We value the company at 24x FY23E adj. EPS of INR18.6...

Indraprastha Gas Ltd. is trading above all available SMAs

Indraprastha Gas Ltd.

03 Dec 2020, 12:00AM

226.10

3.02%

Indraprastha Gas (BUY): Expect volume recovery from FY22

Buy: Indraprastha Gas Ltd.

BOB Capital Markets Ltd.

We present key takeaways from our recent interaction with the Indraprastha Gas (IGL) management.

Indraprastha Gas Ltd. is trading above all available SMAs

Indraprastha Gas Ltd.

24 Nov 2020

226.10

3.02%

INDRAPRASTHA GAS LTD

Buy: Indraprastha Gas Ltd.

Geojit BNP Paribas

IGL's Q2FY21 revenues declined 23.1% YoY to Rs. 1,441cr with a volume drop of 16.4% YoY to 506 Standard Cubic Meter (SCMmn). This was primarily due to slump in demand of 20.3% for CNG at 255mn kgs (vs. 320mn kgs in Q2FY20) due to transport restrictions. Henceforth, CNG revenues stood at Rs. 944cr down 24.9%. Similarly, demand from industrial and commercial customers were also hit. PNG segment reported sales of Rs. 355cr (-17.1% YoY). Natural Gas and Industrial/ Commercial PNG segment volumes declined 26.1% YoY and 1.4% YoY, respectively, to 34SCMmn and 72SCMmn. This was partially offset by a volume growth of 21.2% YoY in PNG-domestic...

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

Indraprastha Gas Ltd.

18 Nov 2020

226.10

3.02%

IGL

Buy: Indraprastha Gas Ltd.

Target

Dolat Capital

We increase our FY21 earnings estimate by 9.8% to factor in higher margins and make other changes. IGL remains an enviable business model with high volume growth due to geographical expansion and addition of new buses and taxis. Also, shift to private vehicle ownership post Covid pandemic to drive CNG volumes. IGL remains a play on rising pollution concerns as ban on...

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

Indraprastha Gas Ltd.

13 Nov 2020

226.10

3.02%

Indraprastha Gas

Hold: Indraprastha Gas Ltd.

Target

ICICI Securities Limited

Gross margins in Q2FY21 were at | 13.6/scm, above our estimates due to lower gas costs. On a QoQ basis, margins were flattish. Lower gas costs have enabled IGL to sustain healthy margins. The company reported strong EBITDA/scm at | 8/scm, up | 1.6/scm YoY and | 4.6/scm QoQ on account of positive operating leverage. Going forward, on account of increase in LNG prices, we expect gross margins to decline from current high levels. During the current quarter, IGL also reduced CNG and PNG prices post reduction in domestic gas prices. Hence, we expect margins at | 13.1/scm and...

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

Indraprastha Gas Ltd.

12 Nov 2020

226.10

3.02%

BOBCAPS First Light | Indraprastha Gas, Century Plyboards, Gujarat State Petronet, Cera Sanitaryware, Mayur Uniquoters, Info Edge, V-Mart Retail, SpiceJet

Buy: Indraprastha Gas Ltd.

Recommendation Target

BOB Capital Markets Ltd.

IGL: Margin surge leads earnings beat upgrade to BUY. CPBI: Healthy quarter; upside limited cut to ADD. GUJS: Upbeat volume outlook; tariff risks appear priced in. CRS: Decent performance in a tough environment. MUNI: Good performance, outlook improving

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

Indraprastha Gas Ltd.

11 Nov 2020

226.10

3.02%

Volumes in-line; recovery to pre-COVID levels by end-3Q

Neutral: Indraprastha Gas Ltd.

Target

Motilal Oswal

IGL reported a beat on EBITDA on the back of lower other expenditure. CNG volumes were in line with est. (-21% YoY). Total volumes were marginally higher (5%) than est., primarily led by domestic volumes. As most of the restrictions of the COVID-19 lockdowns are being relaxed, we believe the company would now be able to recover CNG volumes to preCOVID levels in 3QFY21 (v/s our earlier est. of recovery in 4QFY21). Volumes would further be aided by increasing demand for personal mobility in the festive season and various commercial segments (restaurants and malls) ramping up their operating capacities....

Indraprastha Gas Ltd. is trading above all available SMAs

Indraprastha Gas Ltd.

15 Sep 2020

226.10

3.02%

Looking for the right tilt between risk and rewards

Neutral: Indraprastha Gas Ltd.

Target

Motilal Oswal

Delhi Transport Corporation plans to induct an additional 1,000 CNG buses (~116 buses would be added by end-Sep20) by the end of this fiscal. Delhi currently has ~6,000 buses totally, and IGL expects ~2,500 CNG buses to be introduced over next 2-3 years (apart from 1,000 mentioned above). Also, IGL expects EBITDA margin growth of 34% per year going ahead (as the company expects gas prices to remain benign in the near term). IGL anticipates 34 court hearings for finalizing the valuation part of Gurugram, and expects the deal to be completed by end-FY21. Gurugram has volumes potential of 22.5mmscmd and is currently operating at 0.4 0.6mmscmd. The company does not plan on reducing planned capex, although it may review capex during the mid-year review. Indraprastha Gas Capex from FY22 onwards could be ~INR12b, and expect another ~INR3b capex over the next two years if Gurugram is awarded.

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

Is Indraprastha Gas Ltd. worth buying?

728 Votes:

Buy 81.59%

Sell 10.58%

Hold 7.83%

RESEARCH REPORTS

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