IGL

Indraprastha Gas share price & financials

Price
₹153.11
Market cap
₹20.6k Cr
Sector
Oil, Gas & Consumable Fuels
Calls analysed
7
Latest concall · Q1 FY27 · call held 14 Aug 2026

Indraprastha Gas Limited Q1 FY27

Revenue ₹5,028 cr +16%EBITDA ₹296 cr PAT ₹186 cr

What went well

  • Revenue exceeded INR5,000 crores for the first time in a quarter, representing a 16% year-on-year growth.
  • Average daily gas sales volume increased by 5.8% to 9.66 MMSCMD in Q1 FY27, up from 9.13 MMSCMD in Q1 FY26.
  • Overall CNG sales volume (net of DTC and DIMTS) grew by approximately 11%, with Delhi CNG sales up 9% and other states showing double-digit growth.

What to watch

  • Profitability was impacted by higher gas costs and supply challenges arising from the geopolitical situation in West Asia.
  • The average cost of gas for Q1 FY27 was in the range of INR40-45 per SCM, with management noting continued turbulence and increases in July.
Read the full call →

What Indraprastha Gas Limited does

Indraprastha Gas Limited is a city gas distribution (CGD) company that sources natural gas and sells it as compressed natural gas (CNG) to vehicles and as piped natural gas (PNG) to residential, commercial and industrial consumers. It operates under PNGRB-authorised geographical area licenses spanning Delhi NCR, Uttar Pradesh, Haryana and Rajasthan, fuelling the world's largest CNG-powered public bus fleet. IGL also holds 50% equity stakes in two associate CGD companies, Central UP Gas Limited (CUGL) and Maharashtra Natural Gas Limited (MNGL), extending its natural-gas distribution footprint into Uttar Pradesh and Maharashtra respectively.

Segments

  • CNG
  • PNG - Domestic
  • PNG - Industrial & Commercial
  • Sale to other CGD companies
CNG stations operated
954
PNG domestic (household) connections
30.7 lakh+ (~3.07 million)
CNG vehicles served across network
~21 lakh (2.1 million)
Geographical Areas (GAs) licensed
12 GAs across 32 districts in 4 states
Commercial & Industrial PNG customers
12,100+
Gas pipeline network (steel + MDPE)
~29,746 km (2,347 km steel + 27,399 km MDPE)
Founded 1998Headquarters New Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 16 tracked 0 delivered 9 missed 7 open
  • Exit Sales Volume missed said Q2 FY25 Promised: 9.5 MMSCMD by FY25 Q1 FY27: Target period has passed. The promise was missed.
  • EBITDA per SCM at risk said Q3 FY25 Promised: ₹7 to ₹8 annually Q1 FY27: Management reiterated the long-term guidance of INR 7/SCM but warned of short-term stress from geopolitical issues. Actual Q1 EBITDA/SCM was ~INR 3.37, a significant decline, putting the target at risk.
  • LNG Stations on track said Q2 FY25 Promised: 50 stations in next 3 to 5 years Q1 FY27: After two quarters of no updates, management reported that the company has commenced LNG operations in the NCR region, showing progress towards the long-term goal.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 17.2%, net profit down 44.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue3,698 3,759 3,948 3,914 4,023 +9%4,068 +8%4,163 +5%4,587 +17%
EBITDA535 362 493 511 441 −18%471 +30%421 −15%294 −42%
Net profit454 325 453 428 385 −15%392 +21%339 −25%238 −44%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −28.1% 1Y

₹140₹160₹180₹200₹220Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 13 Feb 2026Q1 FY27 — 14 Aug 2026

1Y: ₹211.33 on 10 Sept 2025 → ₹151.98. High ₹220.12 (7 Oct 2025), low ₹145.62 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−0.0%
14 Aug
Q3 FY26
−1.8%
13 Feb
Q2 FY26
−1.1%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 4.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 11.4%.

Year endingFY23FY24FY25FY26
Revenue₹14.1k Cr₹14.0k Cr₹14.9k Cr₹16.2k Cr
Operating profit₹2.0k Cr₹2.4k Cr₹2.0k Cr₹1.8k Cr
Operating margin14.4%17.0%13.2%11.4%
Interest₹11 Cr₹9 Cr₹10 Cr₹16 Cr
Depreciation₹363 Cr₹414 Cr₹476 Cr₹517 Cr
Net profit₹1.6k Cr₹2.0k Cr₹1.7k Cr₹1.5k Cr
Net margin11.6%14.1%11.5%9.5%
Cash from operations₹2.2k Cr₹1.5k Cr₹2.2k Cr₹1.9k Cr
Free cash flow₹1.1k Cr₹303 Cr₹1.0k Cr₹588 Cr
ROCE27.0%28.0%21.0%18.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹140 Cr₹140 Cr₹140 Cr₹140 Cr₹280 Cr₹280 Cr
Reserves₹6.2k Cr₹7.4k Cr₹7.8k Cr₹9.5k Cr₹10.9k Cr₹11.2k Cr
Borrowings₹113 Cr₹108 Cr₹83 Cr₹81 Cr₹102 Cr₹98 Cr
Other liabilities₹2.6k Cr₹3.4k Cr₹4.6k Cr₹4.5k Cr₹5.4k Cr₹5.4k Cr
Total liabilities₹9.1k Cr₹11.1k Cr₹12.6k Cr₹14.2k Cr₹16.8k Cr₹17.0k Cr
Fixed assets₹4.3k Cr₹5.0k Cr₹5.7k Cr₹6.6k Cr₹7.5k Cr₹8.1k Cr
Capital work in progress₹847 Cr₹1.4k Cr₹1.4k Cr₹1.4k Cr₹1.7k Cr₹1.5k Cr
Investments₹2.3k Cr₹2.6k Cr₹1.5k Cr₹2.2k Cr₹3.5k Cr₹3.2k Cr
Other assets₹1.6k Cr₹2.1k Cr₹3.9k Cr₹4.0k Cr₹4.1k Cr₹4.3k Cr
Total assets₹9.1k Cr₹11.1k Cr₹12.6k Cr₹14.2k Cr₹16.8k Cr₹17.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −6.66 pp while DIIs added +6.03 pp. The shareholder count grew 2% to 3,67,377.

Promoters
45.0%
FIIs
10.2%
DIIs
30.0%
Government
5.0%
Public
9.8%

Since Jun 2025

  • FIIs −6.66 pp
  • DIIs +6.03 pp
  • Public +0.62 pp

How it drifted, 12 quarters

Over this window FIIs fell from 20.9% to 10.2% — −10.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 45.0%, FIIs 20.9%, DIIs 21.1%, Government 5.2%, Public 7.8%.Dec '23: Promoters 45.0%, FIIs 17.9%, DIIs 22.7%, Government 5.0%, Public 9.4%.Mar '24: Promoters 45.0%, FIIs 16.8%, DIIs 24.2%, Government 5.0%, Public 9.0%.Jun '24: Promoters 45.0%, FIIs 16.2%, DIIs 25.1%, Government 5.0%, Public 8.7%.Sep '24: Promoters 45.0%, FIIs 19.3%, DIIs 23.2%, Government 5.0%, Public 7.5%.Dec '24: Promoters 45.0%, FIIs 14.3%, DIIs 26.1%, Government 5.0%, Public 9.6%.Mar '25: Promoters 45.0%, FIIs 14.7%, DIIs 26.2%, Government 5.0%, Public 9.2%.Jun '25: Promoters 45.0%, FIIs 16.8%, DIIs 24.0%, Government 5.0%, Public 9.2%.Sep '25: Promoters 45.0%, FIIs 17.2%, DIIs 24.1%, Government 5.0%, Public 8.7%.Dec '25: Promoters 45.0%, FIIs 17.0%, DIIs 24.2%, Government 5.0%, Public 8.8%.Mar '26: Promoters 45.0%, FIIs 17.1%, DIIs 23.3%, Government 5.0%, Public 9.7%.Jun '26: Promoters 45.0%, FIIs 10.2%, DIIs 30.0%, Government 5.0%, Public 9.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 5 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Indraprastha Gas Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Gail (India) Limited 22.50%unchanged
Bharat Petroleum Corporation Ltd 22.50%unchanged
Life Insurance Corporation Of India - Ulif00420091 Insurer9.46%newly disclosed
Parag Parikh Flexi Cap Fund Mutual fund6.90%newly disclosed
HDFC Mutual Fund - HDFC Manufacturing Fund Mutual fund5.42%newly disclosed
Govt Of Nct Of Delhi 5.00%unchanged
SBI Life Insurance Co. Ltd Insurer1.44%+0.08 pp
SBI PSU Fund Mutual fund1.35%+0.15 pp
Government Pension Fund Global Sovereign1.20%newly disclosed
LICI Money Plus Growth Fund Insurer—off the list
HDFC Trustee Company Ltd. A/C HDFC Balanced Advant Mutual fund—off the list
T. Rowe Price Emerging Markets Discovery Stock Tru —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in IGL

Filings to Aug 2026

0 new, 4 added, 2 trimmed, 0 sold out — net −6.66 L shares (−1.5%).

Held by funds
₹672 Cr
14 schemes
Biggest holder
SBI Energy Opportunities Fund
₹168 Cr · 2.0% of that fund
SchemeHoldingLast month
SBI Energy Opportunities Fund SBI Mutual Fund₹168 Crheld
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹130 Crheld
SBI PSU Fund SBI Mutual Fund₹107 Crheld
HDFC Balanced Advantage Fund HDFC Mutual Fund₹99 Crheld
HDFC Manufacturing Fund HDFC Mutual Fund₹65 Crheld
Nippon India Value Fund Nippon India Mutual Fund₹33 Crheld
HDFC Dividend Yield Fund HDFC Mutual Fund₹25 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹17 Cr+0.14 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 2 trimmed — net −6.66 L shares (−1.5%)

Funds are sitting on
-23%
vs est. average cost
Held by funds
₹672 Cr
14 schemes · ≈ 3.3% of the company
Biggest holder
SBI Energy Opportunities Fund
₹168 Cr · 2.0% of that fund
Longest holder
HDFC Large and Mid Cap Fund
3y 8m · since Dec '22

Shares held by these funds +157%

Aug '23 4.44 cr shares Jul '26

All earnings calls (7)

Read the Q1 FY27 call →

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