IRMENERGY

IRM Energy share price & financials

Price
₹279.85
Market cap
₹1.2k Cr
Sector
Oil, Gas & Consumable Fuels
Calls analysed
3
Latest concall · Q1 FY27 · call held 07 Aug 2026

IRM Energy Q1 FY27

Revenue from Operations ₹326 cr +24%EBITDA ₹62 cr +139%EBITDA Margin 19% PAT ₹34 cr +140%

What went well

  • Revenue from operations reached INR 326 crore, marking a 24% YoY and 17% QoQ growth.
  • EBITDA (excluding other income) surged to INR 62 crore, a 139% YoY increase, with EBITDA margin expanding to 19%.
  • Profit After Tax (PAT) grew 140% YoY to INR 34 crore, improving the PAT margin to 10.5%.

What to watch

  • PNG industrial volumes were impacted by a government notification (March 9, 2026) leading to an ~80% gas allocation disruption due to supply issues from the West Asia conflict.
  • Geopolitical developments in the Middle East and Asia resulted in elevated energy prices and volatility across global gas markets.
Read the full call →

What IRM Energy does

IRM Energy builds, owns and operates City Gas Distribution (CGD) infrastructure under long-term PNGRB authorisations, laying steel and MDPE pipeline networks to supply piped natural gas (PNG) to domestic, commercial and industrial customers and compressed natural gas (CNG) through retail stations for vehicles. It sources gas via national cross-country pipelines (GSPL, GAIL) and a mix of APM, spot/IGX, HPHT and long-term/spot RLNG and LNG contracts, and has recently begun LNG dispensing. The company is part of the Cadila Group (promoted by the family behind Cadila Pharmaceuticals) and entered the CGD sector in 2015.

Segments

  • PNG Domestic
  • PNG Commercial
  • PNG Industrial
  • CNG
  • LNG
Geographical Areas (GAs) authorised
4 (Banaskantha; Fatehgarh Sahib; Diu & Gir Somnath; Namakkal & Tiruchirappalli), covering 6 districts
CNG stations
150
CNG dispensing points
552
PNG domestic connections
83,262
PNG commercial connections
496
PNG industrial connections
223
Founded 2015Headquarters Ahmedabad, Gujarat, IndiaEmployees 220 (FY25) Company website

Guidance record · Q1 FY27

what the last two calls moved 17 tracked 3 delivered 4 missed 10 open
  • Total CNG Stations delivered said Q3 FY26 Promised: 150-plus stations in our kitty by March 31st Q1 FY27: Promise period ended. No new update.
  • Overall Volume Growth missed said Q3 FY26 Promised: 10% to 12% range by the end of this year Q1 FY27: Promise period ended. No new update.
  • Overall Volume Growth revised down said Q3 FY26 Promised: 12% to 15% Q1 FY27: Guidance revised down to 10-12% for FY27 (targeting 250 MMSCM), a significant reduction from the '30% plus' expectation given in Q4 FY26.

All 17 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 24.4%, net profit up 142.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue232 251 268 262 259 +12%265 +6%280 +4%326 +24%
EBITDA26 22 17 26 27 +4%30 +36%30 +76%62 +138%
Net profit12 10 4 14 13 +8%14 +40%13 +225%34 +143%
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 +1.4% 1Y

₹200₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q3 FY26 — 5 Feb 2026Q4 FY26 — 8 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹276.45 on 10 Sept 2025 → ₹280.25. High ₹376.75 (18 Sept 2025), low ₹176.06 (27 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+0.4%
7 Aug
Q4 FY26
−4.1%
9 May
Q3 FY26
+0.7%
5 Feb

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 2.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 10.6%.

Year endingFY23FY24FY25FY26
Revenue₹980 Cr₹890 Cr₹976 Cr₹1.1k Cr
Operating profit₹113 Cr₹149 Cr₹95 Cr₹113 Cr
Operating margin11.5%16.7%9.7%10.6%
Interest₹23 Cr₹27 Cr₹22 Cr₹16 Cr
Depreciation₹21 Cr₹26 Cr₹35 Cr₹44 Cr
Net profit₹64 Cr₹86 Cr₹45 Cr₹54 Cr
Net margin6.5%9.7%4.6%5.1%
Cash from operations₹53 Cr₹120 Cr₹94 Cr₹143 Cr
Free cash flow₹-109 Cr₹-58 Cr₹-36 Cr₹-39 Cr
ROCE17.0%15.0%8.0%9.0%
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₹29 Cr₹29 Cr₹30 Cr₹41 Cr₹41 Cr₹41 Cr
Reserves₹68 Cr₹193 Cr₹295 Cr₹870 Cr₹930 Cr₹956 Cr
Borrowings₹190 Cr₹235 Cr₹341 Cr₹251 Cr₹82 Cr₹73 Cr
Other liabilities₹52 Cr₹97 Cr₹127 Cr₹135 Cr₹188 Cr₹226 Cr
Total liabilities₹338 Cr₹555 Cr₹793 Cr₹1.3k Cr₹1.2k Cr₹1.3k Cr
Fixed assets₹241 Cr₹300 Cr₹381 Cr₹557 Cr₹681 Cr₹788 Cr
Capital work in progress₹20 Cr₹52 Cr₹91 Cr₹87 Cr₹107 Cr₹99 Cr
Investments₹8 Cr₹36 Cr₹87 Cr₹42 Cr₹53 Cr₹47 Cr
Other assets₹70 Cr₹166 Cr₹234 Cr₹611 Cr₹400 Cr₹362 Cr
Total assets₹338 Cr₹555 Cr₹793 Cr₹1.3k Cr₹1.2k Cr₹1.3k 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, DIIs trimmed −3.94 pp while the public added +3.30 pp. The shareholder count grew 20% to 76,224.

Promoters
50.7%
FIIs
1.6%
DIIs
1.7%
Public
46.0%

Since Jun 2025

  • DIIs −3.94 pp
  • Public +3.30 pp
  • Promoters +0.67 pp

How it drifted, 11 quarters

Over this window DIIs fell from 12.6% to 1.7% — −10.9 pp.

Dec '23Mar '25Jun '26

Ownership split by quarter, oldest first. Dec '23: Promoters 50.1%, FIIs 0.5%, DIIs 12.6%, Public 36.8%.Mar '24: Promoters 50.1%, FIIs 1.1%, DIIs 12.9%, Public 36.0%.Jun '24: Promoters 50.1%, FIIs 0.5%, DIIs 11.2%, Public 38.3%.Sep '24: Promoters 50.1%, FIIs 1.9%, DIIs 6.8%, Public 41.3%.Dec '24: Promoters 50.1%, FIIs 1.6%, DIIs 7.0%, Public 41.3%.Mar '25: Promoters 50.1%, FIIs 1.7%, DIIs 6.6%, Public 41.6%.Jun '25: Promoters 50.1%, FIIs 1.6%, DIIs 5.6%, Public 42.6%.Sep '25: Promoters 50.1%, FIIs 1.6%, DIIs 5.0%, Public 43.4%.Dec '25: Promoters 50.1%, FIIs 1.6%, DIIs 5.0%, Public 43.4%.Mar '26: Promoters 50.1%, FIIs 1.6%, DIIs 3.6%, Public 44.8%.Jun '26: Promoters 50.7%, FIIs 1.6%, DIIs 1.7%, Public 46.0%.

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 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of IRM Energy above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Cadila Pharmaceuticals Limited 36.48%unchanged
Enertech Distribution Management Private Limited 21.12%unchanged
IRM Trust through its Trustee Mr. Rajiv Indravadan Modi 14.26%newly disclosed
Shizuoka Gas Co., Ltd. 2.17%unchanged
Massachusetts Institute Of Technology Endowment1.38%unchanged
CPL Biologicals Private Limited 0.00%unchanged
La Vie Biologicals Private Limited 0.00%unchanged
Cadila Laboratories Private Limited 0.00%unchanged
CPL Holdings LLP 0.00%unchanged
Redefine Leisure Private Limited 0.00%unchanged
IRM Private Limited 0.00%unchanged
Apollo Hospitals International Limited 0.00%unchanged

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.

All earnings calls (3)

Read the Q1 FY27 call →

Learn to analyse IRM Energy

Guides on how to read this kind of business and the numbers that matter.