Indraprastha Gas Ltd. share price target

Quarterly Update Q1FY25

IGL has reported EBITDA/PAT of INR 5.8bn/INR 4.0bn, down 9.4%/8.4% YoY in Q1FY25. Volume of 8.64mmscmd grew 5.3% YoY but was down 1% QoQ, while EBITDA/scm of INR 7.4/scm saw QoQ growth and exceeded I-Sec’s estimate of INR 6.9/scm.

While Q4 EBITDA missed consensus on higher expense booking in a quarter, IGL gained traction in industrials, commercials and households

Quarterly Update Q4FY24

AMBER: Persistent near-term challenges; cut to SELL. CPI and IIP: Still some pain points on inflation. Credit Composition: Study on personal loans. HMCL: Healthy quarter but positives priced in. TMX: Improving order outlook; maintain HOLD. BANDHAN: Recovery on track. IGL: Legacy UP, new GAs can offset slowdown, reiterate BUY. ZYWL: Seasonally weak quarter

Quarterly Update Q3FY24

Quarterly Update Q2FY24

Q1 results benefitted from uptick in margin above long-term guidance, but volumes were soft (+4% YoY)

Quarterly Update Q1FY24

Indraprastha Gas’ (IGL) Q1FY24 EBITDA and PAT of INR 6.4bn and INR 4.4bn missed our estimates by 2% and 8% respectively, while beating street estimates by 3% on EBITDA. A less-than-estimated volume growth of ~4% vs expectations of ~6% drove the miss.

Indraprastha Gas (IGL) reported a steady Q4FY23 with ~7% YoY decline in EBITDA and ~9% YoY decline in net earnings to Rs4.7bn and Rs3.3bn respectively (I-Sec: EBITDA Rs5.1bn, PAT Rs3.6bn). QoQ performance was stronger with ~9/18.5% jump in EBITDA/PAT respectively.