Latest news with #IndraprasthaGasLimited
Business Insider
03-08-2025
- Business
- Business Insider
Indraprastha Gas Limited (IGL) Gets a Buy from Jefferies
Jefferies analyst Bhaskar Chakraborty maintained a Buy rating on Indraprastha Gas Limited on August 1 and set a price target of INR240.00. The company's shares closed last Friday at INR201.54. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Chakraborty is a 3-star analyst with an average return of 2.9% and a 51.35% success rate. Chakraborty covers the Energy sector, focusing on stocks such as GAIL (India) Limited, Reliance Industries Limited, and Hindustan Petroleum Corporation Limited. In addition to Jefferies, Indraprastha Gas Limited also received a Buy from ICICI Securities's Probal Sen in a report issued on August 1. However, on July 31, J.P. Morgan maintained a Sell rating on Indraprastha Gas Limited (NSE: IGL). The company has a one-year high of INR285.30 and a one-year low of INR153.25. Currently, Indraprastha Gas Limited has an average volume of 179.3K.
Mint
30-07-2025
- Business
- Mint
IGL Q1 Results: Profit drops 11% YoY to ₹428 crore despite jump in revenue. Details here
IGL Q1 Results: Indraprastha Gas Limited (IGL) on Wednesday, July 30, posted a 10.9% year-on-year (YoY) fall in its consolidated net profit to ₹ 427.81 crore for the first quarter of the financial year 2025-26 (Q1 FY26). The company's profit stood at ₹ 480.22 crore in the same period a year ago. The fall came despite a jump in revenue, which rose to ₹ 4326.75 crore in Q1 FY26 from ₹ 3,887.52 crore in Q1 FY25, a growth of 11.2% YoY. On the operating front, the company's earnings before interest, taxes, depreciation and amortisation (EBITDA) stood a ₹ 511.75 crore for the quarter ended June 2025, as against ₹ 581.85 crore in the corresponding period last year, registering a decline of 12% YoY. However, EBITDA margins saw a sharp decline from 17% to 13% on a YoY basis. Overall, during the quarter, volumes saw a 6% growth to 830.87 million SCM. Most categories — CNG, PNG — saw an improvement, while natural gas sales were constant. However, LNG volumes saw a 56% decline. The consolidated earnings performance includes the earnings outcome of subsidiary IGL Genesis Technologies Limited and associates -- Maharashtra Natural Gas Limited and Central U.P. Gas Limited. On a standalone basis, IGL saw an 11.33% decline in its net profit for the quarter ended June 30, 2025, to ₹ 355.94 crore from ₹ 401.45 crore. However, its revenue from operations climbed to ₹ 4,326.60 crore, recording a jump of 11.29%. Ahead of the Q1 results announcement, IGL share price closed in the red, recording a 1.19% decline to settle at ₹ 203.60 apiece on the BSE. In the last one year, IGL's stock price has seen a 26.39% decline, while it is flat on a year-to-date (YTD) basis. Over the last six months, though, the stock has eked out a gain of 6%.
Time of India
16-07-2025
- Business
- Time of India
Rajasthan to attract ₹11,200 crore investments as Cabinet clears formation of three energy sector JVs
In a Cabinet meeting chaired by Chief Minister Bhajan Lal Sharma on Monday at the Chief Minister's Office, the Rajasthan government approved several key decisions aimed at boosting urban development, medical tourism, renewable energy, and employee welfare. A major highlight of the meeting was the approval for the formation of three joint venture (JV) companies in the energy sector, expected to bring ₹11,200 crore in investments to the state. According to Minister Jogaram Patel, the joint ventures are being established in continuation of the Memoranda of Understanding (MoUs) signed between the Rajasthan government and three Central Public Sector Undertakings (CPSUs) on August 8, 2024, and September 29, 2024. These ventures will help expand renewable energy capacity in the state, support peak electricity demand, and reduce the financial burden on the government in power generation. Patel stated that the state government's equity in these joint ventures will be arranged through the current assets of state-owned power companies. The three joint ventures are: Indraprastha Gas Limited (IGL) – RVUNL JV The first joint venture will be between Indraprastha Gas Limited and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), with shareholding of 74% and 26% respectively. A 500 MW solar power project will be set up in RVUNL's solar park under this JV. The project will lead to an investment of approximately ₹2,000 crore in the state. Oil India Limited – RVUNL JV A second joint venture will be formed between Oil India Limited and RVUNL for setting up renewable energy projects with a capacity of 1,000 MW solar and 200 MW wind energy. This JV will have equal 50:50 shareholding, and is expected to attract an investment of ₹5,000 crore. GAIL (India) Limited – RVUNL JV The third JV will be created between GAIL (India) Limited and RVUNL, also with 50:50 equity participation. Under this arrangement, the existing 300 MW gas-based Dholpur Power Plant and 270.50 MW Ramgarh Power Plant will be transferred to the joint venture. GAIL will ensure the availability of gas for both power plants, which is expected to improve their operational performance and efficiency. In addition to managing these two gas power plants, this JV will also develop 750 MW of solar and 250 MW of wind power projects, contributing to a total investment of ₹4,200 crore in Rajasthan. According to Minister Jogaram Patel, the formation of these joint ventures is expected to play a crucial role in expanding the state's renewable energy infrastructure and ensuring cleaner, more reliable power generation while attracting large-scale investments into Rajasthan's energy sector.
Business Insider
28-06-2025
- Business
- Business Insider
UBS Reaffirms Their Buy Rating on Indraprastha Gas Limited (IGL)
In a report released yesterday, Rwibhu Aon from UBS maintained a Buy rating on Indraprastha Gas Limited (IGL – Research Report), with a price target of INR250.00. The company's shares closed yesterday at INR214.13. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Aon is ranked #5398 out of 9622 analysts. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Indraprastha Gas Limited with a INR242.00 average price target. Based on Indraprastha Gas Limited's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of INR39.51 billion and a net profit of INR4.55 billion. In comparison, last year the company earned a revenue of INR35.97 billion and had a net profit of INR4.34 billion
The Print
16-05-2025
- Health
- The Print
Delhi's PNG rollout to 111 villages crucial course correction in India's clean energy drive: Experts
The initiative by the Delhi government in partnership with Indraprastha Gas Limited (IGL) and other city gas distribution companies aims to replace traditional biomass and LPG use with cleaner, safer, and more affordable piped gas connections. It is part of a phased plan to connect all 357 villages in Delhi to the PNG network by the end of 2025. 'These villages represent pockets that could not transition earlier despite economic opportunities nearby. If it were possible, they would have transitioned by now. These are households with the least socio-economic privileges, making this a crucial equity-favouring initiative,' Balakrishnan told PTI, referring to the Delhi government's latest push to extend PNG supply to the rural areas. New Delhi, May 16 (PTI) Expanding Piped Natural Gas (PNG) connections to 111 villages in Delhi's periphery is a significant step towards addressing the needs of communities left behind in India's clean cooking fuel transition, said Kalpana Balakrishnan, Director of the WHO Collaborating Centre for Occupational and Environmental Health in India. The development comes just over a month after Dr Maria Neira, Director of the Department of Environment, Climate Change and Health at the World Health Organisation (WHO), highlighted in an exclusive interview with PTI the urgent need to scale up LPG subsidy schemes in India. Neira highlighted that India's reliance on biomass fuels such as wood and dung for cooking contributes heavily to indoor air pollution and associated premature deaths, urging Indian authorities to maintain and expand existing clean cooking programmes to reduce health and environmental risks. The Delhi PNG expansion targets over 1 lakh households across the 111 villages, mostly low-income communities that have faced unreliable or no access to clean cooking fuels for a long time. Experts pointed out that these clusters, often excluded from urban clean energy initiatives, lie within Delhi's airshed and contribute significantly to the city's pollution burden. Speaking to PTI, Executive Director at Centre for Science and Environment (CSE) Anumita Roy Chowdhury said that the effort is important to not only control rural emissions within Delhi's airshed but also to ensure health security of rural households by reducing their exposure to solid fuel pollution. The CSE's 2024 report India's Transition to E-Cooking revealed that 41 per cent of India's population still relies on solid biomass fuels, which emit around 340 million tonnes of carbon dioxide annually – about 13 per cent of the country's greenhouse gas emissions. The report also noted that while the Pradhan Mantri Ujjwala Yojana (PMUY) expanded access to Liquified Petroleum Gas (LPG) cylinders, it did not guarantee sustained clean cooking transitions for many beneficiaries. Many continue to use mixed fuels due to affordability and supply issues, limiting the scheme's health and environmental impact. 'PNG connectivity, with its pipeline infrastructure, can overcome issues of fuel refilling and access, making a continuous supply of clean fuel possible,' Roy Chowdhury told PTI. 'But affordability, safety awareness, and community support will be key to the sustained use of PNG in these villages.' Noting the gendered impact of clean fuel access, founder of Chintan Environmental Research and Action Group Bharati Chaturvedi said that enabling poor women to access cleaner cooking fuels is vital for women's health and that of their children. 'Indoor air pollution kills thousands monthly in India, and infants often bear the brunt because they stay close to their mothers during cooking,' she told PTI, adding that many women in these peri-urban villages work in informal sectors such as waste collection, domestic work, or vending, where taking time off to navigate subsidy paperwork or installation procedures is challenging. Air pollution contributed to 8.1 million deaths worldwide in 2021, with India and China recording 2.1 million and 2.3 million fatalities, respectively, said a 2024 report by an independent US-based research organisation, in partnership with UNICEF. The report stated that air pollution contributed to the deaths of 1,69,400 children in India under the age of five in 2021 and also said that air pollution was the leading risk factor for deaths in South Asia, followed by high blood pressure, diet, and tobacco. PTI ABU DR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
