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    IGL: A good stock for the watch list

    IGL's volumes are on the mend, back to nearly 80 percent of pre-Covid levels. The long-term growth story remains strong

    Ruchi Agrawal
    August 27, 2020 / 03:47 PM IST
    IGL: A good stock for the watch list

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Lockdowns, reduced travel and industrial activity adversely affected the total sales volumes of IGL (CMP: Rs 413; Mcap: Rs 28,948 crore) in Q1FY21. It reported a sharp dip in revenue, profits and margins. As expected, all of its segments saw a steep plunge in volumes except for the domestic PNG segment. After a challenging period, the company is now seeing recovery in volumes with nearly 80 percent of pre-Covid level volumes back. We expect more recovery in line with increasing...

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