TheScreener - Indraprastha Gas Limited (IGL) INDRAPRASTHA GAS increases its risk exposure and slightly lowers to Neutral

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INDRAPRASTHA GAS increases its risk exposure and slightly lowers to Neutral

INDRAPRASTHA GAS (IN), a company active in the Gas Distribution industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date November 26, 2021, the closing price was INR 486.40 and its expected value was estimated at INR 501.75.

27/11/2021 1 EN

Underlying

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.

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INE203G01027 National Stock Exchange of India India

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MOSL: INDRAPRASTHA GAS (Neutral)-Rewarding 2QFY22, although risk-reward unfavorable

INDRAPRASTHA GAS: Rewarding 2QFY22, although risk-reward unfavorable (IGL IN, Mkt Cap USD4.7b, CMP INR494, TP INR520, 5% Upside, Neutral) Indraprastha Gas (IGL) reported EBITDA ahead of our estimates. This was led by better-than-estimated volumes (CNG volumes now 8% above pre-COVID peak) and higher-than-estimated EBITDA/scm (INR8, primarily supported by a CNG price hike of INR1.8/kg during the quarter). With an overwhelming quarterly performance, the challenges ahead for IGL are overwhelming as well: The recent excise duty cut on petrol and diesel has reduced savings of CNG to liq...

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INDRAPRASTHA GAS: In-line results; real challenge from APM and EVs ahead (IGL IN, Mkt Cap USD5b, CMP INR535, TP INR510, 5% Downside, Neutral) Indraprastha Gas (IGL) reported EBITDA in line with estimate, with volumes marginally below estimate (-5% est., at 5.32mmscmd). On the other hand, EBITDA/scm was marginally better than estimated (+5% est., at INR7.9). IGL reported flat EBITDA margins QoQ, while peers MAHGL and GUJGA reported margin expansion QoQ on account of a higher mix of spot LNG. On the other hand, a much lower spot LNG mix resulted in flat QoQ EBITDA margins for IGL. We rei...

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INDRAPRASTHA GAS increases its risk exposure and slightly lowers to Neutral

Empowering Investors

MOSL: INDRAPRASTHA GAS (Neutral)-Rewarding 2QFY22, although risk-reward unfavorable

MOSL: INDRAPRASTHA GAS (Neutral)-In-line results; real challenge from APM and EVs ahead

AC ENERGY CORP increases its risk exposure and slightly lowers to Neutral

With a more favourable environment, VUKILE PROPERTY improves to Positive

An unfavourable environment weighs on ROYAL BAFOKENG PLATINUM, which sees a downgrade to Slightly Negative

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