Q2 2026 Indraprastha Gas Ltd Earnings Call Transcript
Key Points
- Indraprastha Gas Ltd (BOM:532514) reported a 3% year-on-year growth in overall sales, with CNG volumes growing by 10% excluding DTC sales.
- The company witnessed a 21% increase in CNG vehicle adoption over the previous year, supported by government GST rationalization.
- The reduction of VAT on domestic gas sourced from Gujarat is expected to positively contribute to EBITDA margins.
- The company is expanding its geographical footprint, operating across 12 areas in 4 states, with a robust infrastructure network.
- Indraprastha Gas Ltd (BOM:532514) is exploring international opportunities, such as a joint venture in Saudi Arabia, which could provide significant growth potential.
- The company's EBITDA declined to INR443 crore from INR532 crore in the same quarter last year, primarily due to increased gas procurement costs.
- PAT for the quarter stood at INR37 crore, a significant drop from INR431 crore during the same period last year.
- The transition of DTC and DIMTS from CNG to electric mobility has negatively impacted sales volumes.
- The company faces challenges with fluctuating gas procurement costs, influenced by factors such as the depreciation of the rupee and increased Henry Hub prices.
- Growth in the NCR region was lower than expected, with only a 7% increase, compared to the usual 10-12% growth rate.
Ladies and gentlemen, good day, and welcome to the Indraprastha Gas Limited Q2 FY26 earnings conference call hosted by DAM Capital. (Operator Instructions)
I now hand the conference over to Mr. Kishan Mundhra from DAM Capital. Thank you, and over to you, sir.
Thank you, Judah. Good day, ladies and gentlemen. On behalf of DAM Capital, I welcome all of you to Indraprastha Gas Limited second quarter FY 2026 earnings call.
Today from the management team of IGL, we have the pleasure of having with us Mr. K.K. Cativa, the Managing Director of IGL, Mr. Mohit Bhatia, the Director Commercial; Mr. Sanjay Kumar, the CFO; and Mr. Manjit Gulati, the VP Finance. With this, I shall now hand over the floor to the management for their opening remarks, which will then be followed by the question-and-answer session.
Over to you, sir.
Good afternoon, ladies and gentlemen. I'm Kamal
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