Indraprastha Gas Ltd.

Indraprastha Gas Limited. Indraprastha Gas Limited (IGL) is an India-based city gas distribution company. The Company's business consists of sale of natural gas. The Company is focused on industrial and commercial business. The Company supplies compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to the domestic, industrial and commercial sectors in Delhi and the National Capital Region (NCR). The Company offers PNG, which includes methane-CH4, as well as other hydrocarbons. The Company offers CNG, a gaseous fuel that includes a mixture of hydrocarbons, primarily methane. The Company has approximately 340 CNG stations spread all around the National Capital Territory of Delhi and in NCR. The Company provides PNG connections to over 6.36 lakhs domestic households, and approximately 2,630 commercial and industrial customers.
  • TickerIGL
  • ISININE203G01027
  • ExchangeNational Stock Exchange of India
  • SectorGas, Water & Multi-utilities
  • CountryIndia

INDRAPRASTHA GAS LTD. sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of INDRAPRASTHA GAS LTD. (IN), active in the Gas Distribution industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date May 15, 2020, the closing price was INR 456.60 and its target price was estimated at INR 366.91.

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior

Swarnendu Bhushan

MOSL: INDRAPRASTHA GAS (Neutral)-Strong volume growth continues; beat on EBITDA/scm

INDRAPRASTHA GAS: Strong volume growth continues; beat on EBITDA/scm (IGL IN, Mkt Cap USD3.9b, CMP INR393, TP INR355, 10% Downside, Neutral)   High volume growth, combined with an expansion in EBITDA/scm, resulted in an EBITDA jump of 27% YoY to INR3.9b (our estimate: INR3.7b) for 2QFY20. PBT stood at INR3.7b with a DTL reversal of INR81.6m. PAT was at INR3.8b (v/s INR1.9b in 2QFY19). The company has recognized provision for income tax on the revised rates, resulting in a reduction in current tax expense to the extent of INR614m. For 1HFY20, EBITDA stood at INR7.3b (+20% YoY) with EBITD...

Swarnendu Bhushan

MOSL: INDRAPRASTHA GAS (Neutral)-Strong volume growth continues-Lower LNG prices support margins

INDRAPRASTHA GAS: Strong volume growth continues; Lower LNG prices support margins  (IGL IN, Mkt Cap USD3.1b, CMP INR316, TP INR327, 3% Upside, Neutral)   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, ...

Swarnendu Bhushan

MOSL: INDRAPRASTHA GAS (Buy)-Increased volumes offset by lower EBITDA/scm

Indraprastha Gas: Increased volumes offset by lower EBITDA/scm (IGL IN, Mkt Cap USD3.2b, CMP INR314, TP INR360, 15% Upside, Buy)   EBITDA increased 20% YoY (+4% QoQ) to INR3.3b (our estimate of INR3.4b) in 4QFY19, led by higher volume growth. However, EBITDA/scm declined marginally to INR5.9 (our estimate: INR6.3, 4QFY18: INR5.7; 3QFY19: INR5.9) due to higher costs. Notably, IGL did not take any price hike in the quarter. Increased other income, though, led to higher-than-expected PAT of INR2.3b (+29% YoY; our estimate: INR2.2b). Volumes increased 17% YoY (+6% QoQ) to 6.3mmscmd (5% beat)...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

YTD sideways congestion for the MSCI ACWI ex-US and an intact downtrend for the MSCI EM index continue to point to a risk-off environment for international equity markets, and supports our neutral outlook (at best)... see page 2. We continue to recommend avoiding broad indexed exposure in favor of selectivity. In today's report we highlight actionable country- and Sector-specific themes: • Norway and India are leadership. Norway's Oslo OBX and India's SENSEX remain global leaders. Overweight these markets... see below and page 3 for overviews and actionable country-specific stocks. • Austral...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior