Indraprastha Gas Q4 Review - Second Wave A Headwind To FY22 Outlook: ICICI Securities
An employee refuels a vehicle with compressed natural gas at an Indraprastha Gas Ltd. gas station in Delhi. (Photographer: Prashanth Vishwanathan/Bloomberg)

Indraprastha Gas Q4 Review - Second Wave A Headwind To FY22 Outlook: ICICI Securities

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ICICI Securities Report

Indraprastha Gas Ltd.’s Q4 FY21 standalone earnings per share was up 31% YoY driven by margin increase due to price hikes in compressed natural gas and piped natural gas; volumes were up QoQ and YoY.

FY21 standalone recurring earnings was down 6% YoY despite 18% YoY rise in margin, hit by 17% YoY volume fall.

Consolidated Q4 earnings rise was less steep than standalone at 29% due to 9% YoY fall in share of profit of associates.

Factoring in the impact on Q1 volumes due to lockdown has meant cut in FY22E volume estimate by 4%.

Click on the attachment to read the full report:

ICICI Securities IGL Q4FY21 Results Update.pdf


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