Indraprastha Gas Limited · NSE:IGL
Indraprastha Gas — Investor Presentation (May 2024)
30 slides from Indraprastha Gas's investor presentation, May 2024
Slide 1: Indraprastha Gas Limited: An Overview
Indraprastha Gas Limited An Overview May 2024
Slide 2: Background
Background Incorporated in 1998, IGL is a Joint Venture of GAIL and BPCL. Govt. of NCT of Delhi is also holding 5% equity. The company was listed in stock exchange in December 2003. IGL started its operations in NCT of Delhi in 1999 with only 9 CNG stations and 1000 PNG consumers. Today IGL has its
Slide 3: Shareholding Pattern As on 31 March 2024
Shareholding Pattern As on 31 March 2024 % HOLDING Promoters - 45% (GAIL-22.5% & BPCL- 22.5%) 9% 14% Government of NCT of Delhi - 5% 10% 45% Foreign Institution Investors - 17% 17% 5% Mutual Funds - 10% Insurance Companies - 14% Public / Others - 9% 3
Slide 4: Management
Management IGL Board is fairly well diversified with ten members including two each from GAIL and BPCL, one from Govt. of Delhi and five independent directors. The company is beneficiary of its strong parentage and gets significant support from GAIL and BPCL relating to operations and management. By
Slide 5: Areas of Operation
Areas of Operation Delhi: National capital of India has huge demand potential: - Where public transport vehicles have to necessarily run on CNG in view of the directions of the Hon. Supreme Court of India. However in recent times the government is promoting EV. - Has the highest number of private ca
Slide 6: Area of Operation
Area of Operation Meerut, Muzaffarnagar & Shamli: IGL has been authorized for Meerut (Except area already authorized), Muzaffarnagar & Shamli geographical area in the 9th round of bidding by PNGRB in which IGL has commissioned thirty five CNG stations and started sale of PNG to Domestic households a
Slide 7: Current Sales Volume Mix (%)
Current Sales Volume Mix (%) Comm./ Ind. 12% Sale to other CGD Cos. 6% Residential 7% CNG 75% 7
Slide 8: Sales Volumes
Sales Volumes Figures in MMSCM FY’19 FY’20 FY’21 FY’22 FY’23 FY’24 CNG 1,602 1,738 1,357 1847 2209 2298 PNG 553 619 587 704 743 786 Total Sale 2,155 2,357 1,944 2551 2952 3084 Daily Average Sale 5.91 6.44 5.33 6.99 8.09 8.43 8
Slide 9: Sales Volumes
Sales Volumes 2298 786 2209 743 704 1847 619 1738 587 1602 553 1357 CNG (MMSCM) PNG (MMSCM) FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 3084 2952 8.09 8.43 2551 6.99 2357 6.44 2155 5.91 1944 5.33 Total Sale (MMSCM) Daily Average Sale (MMSCMD) FY'19 FY'20 FY'21 FY'22 FY'23
Slide 10: Volume Trends
Volume Trends (FY’19 to FY’24) (All figures in MMSCMD) 8.43 8.09 0.50 0.50 0.23 0.20 0.80 6.99 0.80 6.44 0.47 0.62 0.14 0.54 5.91 0.49 0.16 0.82 0.50 0.66 5.33 0.15 0.50 0.37 0.54 0.38 0.09 0.33 0.69 0.46 6.28 6.05 5.06 4.75 4.39 3.72 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24
Slide 11: Gas Sourcing
Gas Sourcing Allocation from Govt. of India of domestic gas for CNG and PNG Domestic segment. Lower prices of domestic gas makes the economics of switching to gas more attractive driving growth in CNG & PNG- Domestic segments which constitute around 82% of the total sales volumes. During Q4 of FY 23
Slide 12: Current Gas Mix (%) (Overall Purchases)
Current Gas Mix (%) (Overall Purchases) RLNG/HPHT 28% Non-APM 39% APM 33% Based on data of financial year 2023-24 12
Slide 13: Growth in CNG
Growth in CNG Financial Year March’19 March’20 March’21 March’22 March’23 March’24 CNG Stations 500 555 612 711 791 882 (Cumulative Nos.) Sale (Lakh kg) 11,439 12,324 9,575 13,071 16,112 16,468 Sale (Lakh 31.34 33.67 26.23 35.81 44.14 44.99 kg/day) Sale 6268 6067 4286 5037 5580 5101 (KG/Station/per
Slide 14: Growth in CNG
Growth in CNG 882 16112 16468 791 711 13071 12324 612 11439 555 9575 500 No. of CNG Stations Sales in Lakh kg March'19 March'20 March'21 March'22 March'23 4 March'19 March'20 March'21 March'22 March'23 March'24 44.14 44.99 35.81 33.67 31.34 26.23 Sales in Lakh kg/day March'19 March'20 March'21 March
Slide 15: CNG Station Network
CNG Station Network Figures in numbers Station IGL DTC/ OMC DODO Total UPSRTC Online 156 80 427 58 721 Daughter Booster 2 0 113 3 118 Daughter 0 0 42 0 42 LNG 1 0 0 0 1 Total 159 80 582 61 882 15
Slide 16: CNG Vehicles (Figures in Nos.) IGL GA's
CNG Vehicles (Figures in Nos.) IGL GA’s 32,554 29,941 6,18,654 27,284 569,806 26,150 26,760 534,557 24,850 490,662 476,502 478,372 Buses Auto/ LGV/ RTV March'19 March'20 March'21 March'22 March'23 March'24 March'19 March'20 March'21 March'22 March'23 March'4 12,41,847 18,93,055 1,703,416 1,103,669 1
Slide 17: PNG Connections
PNG Connections 27.00 23.7 20.6 16.85 13.75 11.02 Domestic (Lakhs) March'19 March'20 March'21 March'22 March'23 March'24 10585 9021 7,720 6,687 5,566 4,337 Industrial/ Commercial (Nos.) March'19 March'20 March'21 March'22 March'23 March'24 17
Slide 18: PNG Network (Figures in kilometers)
PNG Network (Figures in kilometers) 23565 2055 20,632 1,868 17,240 1,571 15,262 1,265 13,455 1,150 12,023 1,006 Steel Pipeline MDPE Pipeline March’19 March’20 March’21 March’22 March’23 March’24 March’19 March’20 March’21 March’22 March’23 March’24 25620 22,500 18,811 16,527 14,605 13,029 Total Marc
Slide 19: Cumulative Capex (Rs. in Crores)
Cumulative Capex (Rs. in Crores) 11,236 9,967 8,777 7,323 6,312 5,259 4,521 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 19
Slide 20: Standalone Financial Data (Rs./ Crores)
Standalone Financial Data (Rs./ Crores) 1745 15,543 15,403 1,445 1,316 * 1,135 8,443 1,005 7,131 786 6,337 5,409 Gross Turnover Total Comprehensive Income FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 122 25 99 21 101 19 84 * 16 * 72 14 59 11 EPS (Rs./share) Book Value (Rs.
Slide 21: Dividend
Dividend Dividend Policy provides liberal payout Track record of last five years % of face value of Rs./Share Year share 2.00 FY 17-18 100 FY 18-19 120 2.40 FY 19-20 140 2.80 FY 20-21 180 3.60 FY 21-22 275 5.50 FY 22-23 650 13.00 FY 23-24 (Interim) 200 4.00 FY 23-24 (Recommended) 250 5.00 21
Slide 22: Acquisition of Equity in Other CGDs
Acquisition of Equity in Other CGDs IGL has acquired 50% equity share capital of Central UP Gas Limited (CUGL) at a price of Rs. 23 per equity share aggregating to Rs.68 crores. CUGL is engaged in the CGD business in the cities of Kanpur and Bareilly, Unnao & Jhansi in Uttar Pradesh. IGL has acquire
Slide 23: Consolidated Results
Consolidated Results The standalone and consolidated financial results for the year ending March 23 with the Associates i.e. CUGL & MNGL on equity method considering 50% share in profit are as under: Parameter Unit Standalone Consolidated Total Comprehensive Income Rs. in Crores 1745 1980 EPS Rs./Sh
Slide 24: Future Outlook
Future Outlook Approximately Rs.1500 Crores of capex is planned for the financial year 2024-25. The Capex covers existing GA of Delhi NCR and other GAs allotted to the company. Approx. 80 CNG stations are planned to be commissioned during the FY 2024-25. The company is making efforts to increase gas
Slide 25: Future Outlook
Future Outlook Company is actively looking for growth avenues and is open for organic/inorganic growth opportunities. The company is also looking for opportunities to diversify in other areas. Company has approached state transport undertakings for running inter state passenger buses on CNG. One of
Slide 26: Credit Strength
Credit Strength Healthy profitability with strong cash generations from operations. Zero debt company. Comfortable working capital position. Care Ratings Ltd. has reaffirmed highest credit ratings of AAA (Stable) for bank facilities . 26
Slide 27: Risk & Mitigations
Risk & Mitigations Gas price • CNG & PNG prices remains competitive vis-à-vis petrol and subsidized LPG in view of allocation of domestic gas. • To mitigate the risk, company has signed mid term/long term gas purchase agreements. 27
Slide 28: Contingent Liability - DDA Case
Contingent Liability -DDA Case Delhi Development Authority (DDA) has raised a total demand of ₹155.64 crores during 2013-14 on account of increase in license fees in respect of sites taken by the Company on lease from DDA for setting up CNG stations in Delhi. The increase in license fees was related
Slide 29: Safe Harbor Statement
Safe Harbor Statement This presentation has been prepared by Indraprastha Gas Limited solely for providing information about the company. The information contained in this presentation is for general information purposes only, without regard to specific objectives, financial situations and needs of
Slide 30: Thank You
Thank You 30