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