NSE/IGL

IGLIndraprastha Gas Ltd

Oil & Gas · NSE

₹169.27+1.94%

52-wk low52-WEEK RANGE52-wk high

₹145.62+16.2% from low ·-25.8% from high₹227.98

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

IGL-3.21% · 1Y

Range high ₹229Range low ₹141.74Latest ₹169.27252 bars · daily-close · NSE bhavcopy + 10Y history

Oil & GasUtilities - Regulated GasMidcapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite25/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -7.3% — underperformer
· Below 200-DMA (-12.5%) — downtrend

Valuation

High

Looks expensive vs the sector.

· P/E 14.1 — 18% above sector median 11.9
· P/B 2.09 above sector median

Growth

Medium

Steady but not standout growth.

· Revenue YoY +6.6% — slow
· Profit YoY -26.1% — earnings slipping

Profitability

Medium

Average profitability vs peers.

· ROE 14.8%

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeB(63/100)

Durability

A+

86/100

Financially resilient — strong quality + solvency profile.

Show 4 drivers

Piotroski F-score7/9 (78pt)
Altman Z" score7.68 (100pt)
Debt/Equity0.01 (100pt)
ROE14.8% (59pt)

Valuation

53/100

Trading at a premium — growth must keep delivering to justify.

Show 4 drivers

P/E vs sector (14.1 / 11.9)118% (49pt)
P/B2.09 (40pt)
Dividend yield2.81% (70pt)
EV/EBITDA10.2 (70pt)

Momentum

51/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change-7.3% (36pt)
DMA-trend alignmentsideways (50pt)
RSI (14)65.9 (89pt)
Price vs 200-DMA-12.5% (35pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)14.08

OVERVALUED

CheapestP/E 14.1 at 75th %ile — pricier than 75% of peers.Most expensive

P/B2.09

OVERVALUED

CheapestP/B 2.09 at 83th %ile of sector.Most expensive

EV/EBITDA10.18

FAIR

Monthly seasonality

Avg monthly return over 10 years · historical — not a forecast

Best: Apr +6.08% · Worst: Feb -2.28%

Jan

-0.2%

60% win

Feb

-2.3%

40% win

Mar

-1.5%

50% win

Apr

+6.1%

70% win

May

+0.8%

50% win

Jun

+1.1%

Monthly return distribution

Distribution of 120 monthly returns

Mean

+1.32%

Median

+1.08%

Std dev

9.11%

Best

+27.1%

Worst

-24.8%

% positive

55%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 4

Lean balance sheet (D/E 0.01)
Low leverage means earnings are less sensitive to rate cycles
Consistent top-line growth (24.7% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake
Financial quality score 7/9
Piotroski ≥7 historically associated with outperformance
Bankruptcy risk low (Altman Z″ 7.68)
Z″ above 2.60 sits squarely in the 'safe' zone

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 2

23% upside to consensus target (₹206)
30 analysts see fair value materially higher
Attractive income yield (2.81%)
Payout ratio 13% leaves room for dividend growth

THREATS · 1

Profit contracting sharply (-26.1% YoY)
Double-digit earnings decline pressures valuation compression

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+1.9%

+4.9%

+8.2%

-8.8%

-19.0%

-6.0%

-8.2%

-8.0%

10Y

+11.4%

Fundamentals

VALUATION

Market cap

₹23,414 Cr

P/E (TTM)

14.1

P/E (fwd)

12.3

next 12m

P/B

2.09

EV/EBITDA

10.2

Book value

₹80.15

per share

PROFITABILITY · QUALITY

ROE

14.8%

ROCE

—

Net margin

9.8%

Op margin

8.3%

Gross margin

21.5%

D/E

0.01

GROWTH · MARKET

Rev YoY

+6.6%

Profit YoY

-26.1%

Div yield

2.81%

Payout

12.6%

52w change

-7.3%

Beta

0.47

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 4

+Forward P/E materially below trailing (12.3x vs 14.1x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+3-year revenue CAGR of 24.7%Sustained multi-year growth — not a one-quarter flash
+Nearly debt-free (D/E 0.01)Low financial risk — funds growth from internal accruals, resilient in downturns
++23% upside to analyst consensus target30 analysts average target of ₹206 vs current ₹167

CONS · 0

No material concerns surface from the ratios alone — still layer qualitative research.

Sector-relative context

Oil & Gas · 12 peers

P/E (TTM)

This stock

14.08

Sector median

11.92

Rank 9/12 (33th %ile)

ROE

This stock

14.8%

Sector median

13.3%

Rank 9/12 (33th %ile)

P/B

This stock

2.09

Sector median

1.43

Rank 10/12 (25th %ile)

Quality score · Piotroski F-score

7 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✗Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

SAFE7.68

Z″ = 7.68 — well inside the SAFE zone. Low bankruptcy risk signal across liquidity, profitability and solvency inputs.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.400	×6.56	2.625
Retained Earnings / Total Assets (B)	0.643	×3.26	2.097
EBIT / Total Assets (C)	0.142	×6.72	0.955
Book Equity / Total Liabilities (D)	1.906	×1.05	2.001

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

30 analysts · BUY

Target mean

₹205.53

Target high

₹255.00

Target low

₹125.00

Upside vs today

+22.9%

Street consensus target is +22.9% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Utilities - Regulated Gas

Employees

720

Shares out

140

Revenue (TTM)

₹15,968 Cr

EBITDA

₹1,905 Cr

Total debt

₹102 Cr

Cash

₹4,443 Cr

Net debt

₹-4,341 Cr

Quarterly results

Last 6 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q3	2025-Q4
Revenue	—	3,755	3,884	3,914	4,023	4,068
Operating profit	—	236	396	386	313	339
OPM %	—	6.3%	10.2%	9.9%	7.8%	8.3%

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	7,668	14,087	13,947	14,861
Operating profit	1,578	1,680	1,974	1,518
OPM %	20.6%	11.9%	14.2%	10.2%
Interest	11	9	7	7

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
IGLTHIS Indraprastha Gas Limited	₹169.27	-7.3%	23,414	14.1	2.09	14.8%	0.01	+6.6%
RELIANCE Reliance Industries Limited	₹1,365	+5.4%	18,44,882	22.2	2.10	9.5%	0.36	+10.4%
ONGC Oil & Natural Gas Corporation Limited	₹284.05	+13.7%	3,56,462	9.4	0.97	10.3%	0.44	+0.8%
IOC Indian Oil Corporation Limited	₹145.88	+5.2%	2,07,399	5.7	1.03	18.1%	0.73	+5.7%
BPCL Bharat Petroleum Corporation Limited	₹312.1	+2.6%	1,37,118	5.5	1.44	26.2%	0.56	+5.2%
GAIL GAIL (India) Limited	₹157.82	-19.2%	1,03,689	12.1	1.18	9.7%	0.25	-4.5%
HINDPETRO Hindustan Petroleum Corporation Limited	₹370.85	-6.1%	80,751	5.2	1.42	27.1%	1.11	+4.1%
OIL Oil India Limited	₹470.1	+18.8%	76,182	13.1	1.35	—	0.58	-0.1%
PETRONET Petronet LNG Limited	₹273.22	-12.9%	40,739	11.2	1.93	—	0.12	-3.3%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	3.53	2.81	-20.4%
-2q	3.83	2.76	-28.0%
-3q	3.73	3.06	-17.9%
-4q	4.11	3.25	-20.9%

Date	Amount
2026-02-18	₹3.25
2025-09-15	₹1.50
2024-11-12	₹2.75
2024-09-13	₹2.50
2023-11-15	₹2.00
2023-03-31	₹5.00
2023-02-07	₹1.50
2022-09-15	₹2.75
2021-09-16	₹1.80
2020-09-17	₹1.40
2019-09-12	₹1.20
2018-09-14	₹1.00
2017-09-18	₹0.50
2016-11-29	₹0.35
2016-09-16	₹0.60

Date	Ratio
2025-01-31	2:1
2017-11-09	5:1

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	140	140	140	280
Reserves	7,141	7,487	9,193	10,033
Borrowings	108	83	81	93
Other liabilities	11	11	10	—
Total liabilities	11,102	12,623	14,220	15,581
Fixed assets	6,368	7,231	8,148	8,855
CWIP	1,379	1,510	1,558	1,672
Investments	0	500	281	381
Other assets	11	93	203	—
Total assets	11,102	12,623	14,220	15,581

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	1,898	2,231	1,532	2,199
CF Investing	-1,585	-841	-1,103	-1,519
CF Financing	-328	-1,359	-316	-754
Net cash flow	-15	31	113	-74
Free cash flow	561	1,109	303	1,035

IGLIndraprastha Gas Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Oil & Gas

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

Recent news

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Oil & Gas