Buy Indraprastha Gas target of Rs 474: Geojit

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26 Aug, 2025 12:21

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Geojit's research report on Indraprastha Gas

Indraprastha Gas Limited (IGL) processes and distributes compressed natural gas and liquefied petroleum gas. The Company has been jointly promoted by Bharat Petroleum Corporation and Gas Authority of India. Standalone revenue rose 21.0% QoQ (+52.9% YoY) in Q3FY22, aided by robust volume growth of 5.8% QoQ to 704 SCMmn (+22.2% YoY). CNG volumes up 25.6% YoY and PNG volumes up 13.5% YoY. EBITDA fell 11.4% QoQ to Rs.470cr (-6.2% YoY) with EBITDA margin contracting 700bps QoQ to 19.3% (-1,210bps YoY) due to higher purchased gas cost with increased gas prices. We expect performance to significantly improve with strong volume growth, extensive geographical coverage, government’s initiative to increase natural gas consumption and the experience of the company’s highly qualified senior management personnel.

Outlook

Therefore, we reiterate our BUY rating on the stock with a rolled forward TP of Rs. 474 based on SOTP methodology.

More Info

At 11:00 hrs Indraprastha Gas was quoting at Rs 373.55, down Rs 7.10, or 1.87 percent.

It has touched an intraday high of Rs 385.90 and an intraday low of Rs 372.10.

It was trading with volumes of 77,171 shares, compared to its thirty day average of 188,209 shares, a decrease of -59.00 percent.

In the previous trading session, the share closed down 3.13 percent or Rs 12.30 at Rs 380.65.

The share touched its 52-week high Rs 604.00 and 52-week low Rs 371.65 on 14 September, 2021 and 14 February, 2022, respectively.

Currently, it is trading 38.15 percent below its 52-week high and 0.51 percent above its 52-week low.

Market capitalisation stands at Rs 26,148.53 crore.

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