Indraprastha Gas (IGL) Q2 24/25 earnings summary

Executive summary

• Achieved record daily sales of 9.03 million standard cubic meters in Q2 FY25, with CNG volumes up 9% year-over-year and PNG volumes up 12% year-over-year across all segments.

• Standalone and consolidated unaudited financial results for Q2 FY2024-25 were approved and reviewed without qualification by auditors.

• Infrastructure expanded to over 2,200 km steel and 26,000 km MDPE network, serving 2.28 lakh households, 5,000 industrial, and 6,300 commercial customers.

• Aggressive expansion in new geographical areas and plans for 50 LNG stations in 3–5 years.

• Interim dividend of 275% (₹5.50 per share) declared, record date set for November 12, 2024.

Financial highlights

• Standalone revenue from operations for Q2 FY25 was ₹4,088.09 crore, up 7% year-over-year.

• Q2 turnover rose 7% year-over-year to INR 4,070 crore, the highest ever.

• Standalone net profit for Q2 FY25 was ₹431.09 crore, down 19% year-over-year.

• EBITDA for Q2 was INR 536 crore; profit before tax INR 564 crore.

• EBITDA and PAT declined due to higher input gas costs compared to last year.

• EBITDA margin declined to 14% from 19% year-over-year.

• Dividend of INR 5.5 per share declared, maintaining a payout ratio of ~35%.

Outlook and guidance

• Targeting 9.5 MMSCMD exit rate for FY25 and 8–10% volume growth for FY26.

• CapEx planned at INR 1,700 crore for FY25, with 45–55% allocated to Delhi NCR and the rest to other areas.

• EBITDA guidance maintained at INR 6–7 per SCM, with efforts to optimize gas sourcing.

• Board remains confident in business fundamentals and continues to invest in subsidiary and associates.

• Exploring strategic inorganic opportunities and diversification initiatives.