Indraprastha Gas Q4 Review - Tough Year Ends On Strong Note: Prabhudas Lilladher

A compressed natural gas pressure gauge is seen on a fuel bowser an Indraprastha Gas Ltd. gas station in New Delhi. (Photographer: Prashanth Vishwanathan/Bloomberg)

Indraprastha Gas Q4 Review - Tough Year Ends On Strong Note: Prabhudas Lilladher

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Prabhudas Lilladher Report

We lower our FY22-23E earnings estimate of Indraprastha Gas Ltd. by 8.7%/5.6% to factor in lower volume assumption even as we increase our margins.

FY21 was a difficult year for the company as pandemic restrictions on vehicle movement hit compressed natural gas volumes.

However, easing of restrictions along with rising vaccination coverage will limit incidence of lockdown, going ahead.

The company remains an enviable business model with high volume growth due to geographical expansion and addition of new buses and taxis.

Also, shift to private vehicle ownership post pandemic will drive CNG volumes.

Click on the attachment to read the full report:

Prabhudas Lilladher Indraprastha Gas Q4FY21 Result Update.pdf

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