Indraprastha Gas Q4 Review - Ebitda/scm Normalises; Stronger Crosswinds Ahead: Motilal Oswal

An employee refuels a vehicle with compressed natural gas at an Indraprastha Gas Ltd. gas station in New Delhi. (Photographer: Prashanth Vishwanathan/Bloomberg)

Indraprastha Gas Q4 Review - Ebitda/scm Normalises; Stronger Crosswinds Ahead: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Indraprastha Gas Ltd. reported a mixed bag result, with lower than our estimate Ebitda/standard cubic meter (at Rs 8) and higher than our estimate volumes (at 6.8 million metric standard cubic meter per day)- translating to in line Ebitda at Rs 4.9 billion (up 31% YoY).

Compressed natural gas volumes rose 8% YoY, although down versus pre-Covid-19 levels of 4.92mmscmd (in Q2-Q3 FY20).

Ebitda/scm was lower than our estimate due to higher opex, despite the company taking a compressed natural gas price hike of Rs 0.7/kilogram in Q4 FY21 to compensate for the increase in cost.

Click on the attachment to read the full report:

Motilal Oswal IGL Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.