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Nirmal Bang Report
Indraprastha Gas Ltd. management expects gas demand outlook to revive from H2 FY21 and is planning massive investments in city gas distribution network expansion in existing areas across NCT/NCR in Delhi as well as the new geographical area licenses – which the company won in the ninth and 10th rounds of bidding conducted by the Petroleum and Natural Gas Regulatory Board.
The company’s capex target for FY21 is Rs 13.7 billion, which the management hopes to achieve despite the delays suffered in Q1 FY21 due to the lockdown forced by the Covid-19 outbreak.
Key initiatives to develop new gas markets include converting DG sets to gas, domestic appliances running on gas, H-CNG (hydrogen-CNG mix), liquefied natural gas retailing and electric vehicle charging services.
Equally interesting is the management’s plan to look for inorganic growth opportunities.
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