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Indraprastha Gas Limited
(IGL)
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Rating:71Outperform
Price Target:
₹169.00
▲(13.19% Upside)
Action:Reiterated
Date:08/20/26
The score is primarily supported by strong financial resilience (very low leverage) and reasonable valuation with an attractive dividend yield. Offsetting these positives are pressured profitability and mixed cash conversion, alongside weak-to-neutral technical momentum with the stock below key longer-term moving averages.
Positive Factors
Very low leverage
Conservative financing limits interest and refinancing risk while preserving capacity for network investment, customer connections and CNG infrastructure. The expanding equity base further supports resilience through commodity, regulatory and demand cycles.
Negative Factors
Material margin compression
The sustained decline in gross and net margins suggests weaker structural profitability, whether from input-cost pressure, pricing limits or customer mix. Lower margins reduce earnings resilience and could constrain returns even if revenue continues growing.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Conservative financing limits interest and refinancing risk while preserving capacity for network investment, customer connections and CNG infrastructure. The expanding equity base further supports resilience through commodity, regulatory and demand cycles.
Read all positive factors
Indraprastha Gas Limited (IGL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹221.27B
Dividend Yield3%
Average Volume (3M)308.14K
Price to Earnings (P/E)16.3
Beta (1Y)1.10
Revenue Growth9.92%
EPS Growth-18.29%
CountryIN
Employees719
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)9.72
Shares Outstanding1,400,001,600
10 Day Avg. Volume203,519
30 Day Avg. Volume308,141
Financial Highlights & Ratios
PEG Ratio-1.35
Price to Book (P/B)1.77
Price to Sales (P/S)1.26
P/FCF Ratio21.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹170.00Price Target Upside13.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)9.98
Revenue Forecast (FY)₹190.06B
Indraprastha Gas Limited Business Overview & Revenue Model
Company Description
Indraprastha Gas Limited is an Indian enterprise primarily engaged in the distribution of natural gas. The company supplies compressed natural gas (CNG) to the transportation sector, alongside providing piped natural gas (PNG) for residential, ind...
How the Company Makes Money
IGL makes money primarily by purchasing natural gas from upstream suppliers and selling it to end customers through its city gas distribution network, earning a margin between its gas procurement cost and the regulated/market-linked retail prices ...
Indraprastha Gas Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
92
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 168.40B | 161.68B | 149.28B | 140.00B | 141.33B | 77.10B |
| Gross Profit | 31.81B | 30.10B | 34.31B | 38.02B | 33.71B | 30.23B |
| EBITDA | 21.37B | 25.18B | 19.31B | 23.24B | 19.76B | 18.41B |
| Net Income | 13.61B | 15.50B | 17.18B | 19.85B | 16.40B | 15.02B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 170.28B | 155.81B | 142.20B | 126.21B | 111.02B |
| Cash, Cash Equivalents and Short-Term Investments | 43.10B | 43.10B | 35.94B | 30.10B | 18.30B | 30.61B |
| Total Debt | 0.00 | 977.50M | 934.90M | 811.70M | 827.70M | 1.08B |
| Total Liabilities | -115.25B | 55.03B | 49.39B | 45.70B | 46.89B | 35.16B |
| Stockholders Equity | 115.25B | 115.04B | 106.16B | 96.33B | 79.31B | 75.86B |
Cash Flow | ||||||
| Free Cash Flow | 3.68B | 9.30B | 10.35B | 3.03B | 11.09B | 5.61B |
| Operating Cash Flow | 11.04B | 22.78B | 21.99B | 15.32B | 22.31B | 18.98B |
| Investing Cash Flow | -6.38B | -15.46B | -15.19B | -11.03B | -8.41B | -15.85B |
| Financing Cash Flow | -134.10M | -6.99B | -7.54B | -3.16B | -13.59B | -3.28B |
Indraprastha Gas Limited Technical Analysis
Positive
149.30
Price Trends
152.37
Positive
158.17
Negative
166.50
Negative
Market Momentum
-0.51
Negative
63.18
Neutral
56.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IGL, the sentiment is Positive. The current price of 149.3 is below the 20-day moving average (MA) of 150.56, below the 50-day MA of 152.37, and below the 200-day MA of 166.50, indicating a neutral trend. The MACD of -0.51 indicates Negative momentum. The RSI at 63.18 is Neutral, neither overbought nor oversold. The STOCH value of 56.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:IGL.
Indraprastha Gas Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹221.27B | 16.29 | ― | 3.00% | 9.92% | -18.29% | |
71 Outperform | ₹108.30B | 15.19 | ― | 2.73% | 11.12% | -33.11% | |
70 Outperform | ₹246.90B | 19.88 | ― | 2.21% | 43.18% | 34.40% | |
68 Neutral | ₹151.74B | 13.71 | ― | 1.86% | ― | ― | |
65 Neutral | ₹1.14T | 11.54 | ― | 3.16% | 3.52% | -15.10% | |
56 Neutral | ₹673.58B | 106.78 | ― | 0.04% | 19.81% | -2.41% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:IGL
Indraprastha Gas Limited
158.05
-49.86
-23.98%
IN:ATGL
Adani Total Gas Ltd.
612.45
19.41
3.27%
IN:GAIL
GAIL (India) Limited
173.30
6.74
4.05%
IN:GSPL
Gujarat State Petronet Limited
268.95
-25.61
-8.69%
IN:GUJGASLTD
Gujarat Gas Ltd.
263.15
-104.61
-28.44%
IN:MGL
Mahanagar Gas Ltd
1,096.40
-148.09
-11.90%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.