Indraprastha Gas LimitedQ1 FY27 Results & Financial Update
Indraprastha Gas Limited: Q1 FY27 consolidated results and company financials – revenue ₹5,043.44 Cr, PAT ₹237.92 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Indraprastha Gas Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the quarter ended 30 June 2026 (Q1 FY27), Indraprastha Gas Limited reported consolidated total income of INR 5,145.36 crores, driven by gross revenue from operations of INR 5,043.44 crores and other income of INR 101.92 crores.
Consolidated profit before tax (PBT) and share of profit of associates stood at INR 254.89 crores for the quarter, while the share of profit from associate companies contributed an additional INR 56.83 crores.
Total consolidated tax expense for the period was recorded at INR 73.80 crores, comprising current tax of INR 51.33 crores, deferred tax of INR 16.00 crores, and prior-period tax adjustments of INR 6.47 crores.
Consolidated profit for the period (PAT) was reported at INR 237.92 crores, resulting in a basic and diluted consolidated earnings per share (EPS) of INR 1.72 for the face value of INR 2 per share.
Standalone financial performance for the same quarter reflected revenue from operations of INR 5,040.15 crores and total standalone income of INR 5,143.29 crores, with a standalone net profit of INR 186.18 crores and standalone EPS of INR 1.33.
Performance indicator disclosures show total sales volumes reaching 878.98 million standard cubic meters (Mscm) or 9.66 MMSCMD during the quarter, representing a 6% increase compared to 830.87 Mscm (9.13 MMSCMD) in the corresponding period of the previous year.
CNG sales volumes grew 6% YoY to 656.82 million SCM, while PNG domestic volumes rose 7% to 71.93 million SCM and PNG industrial/commercial volumes increased 4% to 104.42 million SCM.
01 · Business model
What does Indraprastha Gas do?
Indraprastha Gas Limited (IGL) is engaged in the city gas distribution (CGD) business, supplying compressed natural gas (CNG) for vehicles and piped natural gas (PNG) for domestic, industrial, and commercial consumers primarily in National Capital Territory of Delhi and surrounding regions.
The company's primary revenue engines are the sale of natural gas across CNG and PNG categories, backed by retail distribution networks and long-term infrastructure deployments in urban centers.
IGL operates through its core standalone CGD business alongside strategic investments in subsidiaries and associates operating in gas distribution and meter manufacturing sectors.
02 · Historical context
What shaped the business before this quarter
Previously, during 2013-14, the Delhi Development Authority (DDA) raised initial demands regarding lease license fees for CNG station sites, which were subsequently revised to INR 330.73 crores (excluding interest) in August 2016.
On 11 March 2026, the Hon'ble High Court of Delhi disposed of the DDA license fee writ petition, relegating the parties to the AMRCD mechanism, following which IGL filed a representation before the MoPNG.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹5,043.44 Cr |
| Total income | ₹5,145.36 Cr |
| Profit before tax | ₹254.89 Cr |
| Profit after tax | ₹237.92 Cr |
| EPS | ₹1.72 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
CNG sales volume reached 656.82 million SCM during Q1 FY27, marking a 6% increase over 617.63 million SCM in the corresponding quarter of the previous year.
Total PNG volumes expanded 4% YoY to 221.85 million SCM, supported by a 7% increase in domestic PNG volumes (71.93 million SCM) and a 4% rise in industrial and commercial PNG volumes (104.42 million SCM).
Net sales from CNG (net of excise duty) reached INR 3,235.40 crores, while PNG net sales contributed INR 1,334.02 crores to total operating revenue.
What drove margins
Purchases of stock-in-trade of natural gas stood at INR 3,810.92 crores on a standalone basis, reflecting primary input cost pressures for the quarter.
Excise duty expenses for the quarter were recorded at INR 456.71 crores on a standalone basis, compared to INR 412.75 crores in the corresponding period last year.
Standalone employee benefits expense was INR 58.13 crores, depreciation and amortisation stood at INR 136.35 crores, and other expenses were reported at INR 422.01 crores.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company's business falls within a single primary operating segment in terms of Indian Accounting Standard 108 ('Operating Segments').
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total sales volume across all gas categories aggregated to 878.98 million SCM (9.66 MMSCMD) for the quarter ended 30 June 2026.
07 · Strategy & new businesses
How the company is trying to change its growth mix
IGL holds a 51% equity stake in its subsidiary, IGL Genesis Technologies Limited, incorporated for the manufacturing, supply, and distribution of gas meters and allied goods.
The company maintains 50% equity investments in two associate CGD entities, Central U.P. Gas Limited and Maharashtra Natural Gas Limited, consolidating their results under the equity method.
08 · Reported developments
What changed operationally
Total aggregate sales volumes grew by 6% YoY to reach 9.66 MMSCMD in Q1 FY27, led by steady demand across CNG and domestic PNG categories.
09 · Pressure points & risks
What is not going smoothly
Subsidiary IGL Genesis Technologies Limited reported a net loss after tax of INR 5.09 crores for Q1 FY27, of which IGL's share in net loss amounted to INR 2.60 crores.
Interest installments due on 31 December 2025 and 30 June 2026 on loan advances extended to subsidiary IGL Genesis Technologies Limited have not been paid, with total interest due standing at INR 2.77 crores.
10 · Items worth noticing
The line items that can distort a quick read
Standalone tax expense for the quarter includes INR 6.47 crores relating to income tax for previous years.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
IGL has advanced secured loan facilities totaling INR 34.46 crores to its subsidiary IGL Genesis Technologies Limited as of 30 June 2026, with interest dues amounting to INR 2.77 crores remaining unpaid as of the quarter-end.
Capital allocation & funding
Standalone finance costs for the quarter ended 30 June 2026 were reported at INR 2.37 crores.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
DDA License Fee Dispute Status
The Delhi High Court disposed of the DDA lease license fee case on 11 March 2026, relegating the parties to the AMRCD mechanism, prompting IGL to file a representation before the MoPNG seeking parity with oil marketing companies regarding the INR 330.73 crore demand.
13 · Previous-quarter changes
What changed since the previous quarter
Standalone revenue from operations shifted from INR 4,584.51 crores in Q4 FY26 to INR 5,040.15 crores in Q1 FY27, while standalone net profit moved from INR 277.08 crores to INR 186.18 crores over the same sequential period.
14 · Key Q&A
The quarter, answered directly
What does Indraprastha Gas do?
Indraprastha Gas Limited (IGL) is engaged in the city gas distribution (CGD) business, supplying compressed natural gas (CNG) for vehicles and piped natural gas (PNG) for domestic, industrial, and commercial consumers primarily in National Capital Territory of Delhi and surrounding regions.
What is the clearest takeaway from Q1 FY27?
For the quarter ended 30 June 2026 (Q1 FY27), Indraprastha Gas Limited reported consolidated total income of INR 5,145.36 crores, driven by gross revenue from operations of INR 5,043.44 crores and other income of INR 101.92 crores.
What drove revenue or demand?
CNG sales volume reached 656.82 million SCM during Q1 FY27, marking a 6% increase over 617.63 million SCM in the corresponding quarter of the previous year.
What mattered most for margins or profitability?
Purchases of stock-in-trade of natural gas stood at INR 3,810.92 crores on a standalone basis, reflecting primary input cost pressures for the quarter.
What changed operationally beyond the headline numbers?
Total sales volume across all gas categories aggregated to 878.98 million SCM (9.66 MMSCMD) for the quarter ended 30 June 2026.
What are the main pressure points disclosed for the quarter?
Subsidiary IGL Genesis Technologies Limited reported a net loss after tax of INR 5.09 crores for Q1 FY27, of which IGL's share in net loss amounted to INR 2.60 crores.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
AMRCD Resolution Progress: Monitor the proceedings and representation before the AMRCD mechanism regarding the DDA license fee demand.
- 02
Subsidiary Financial Recovery: Track operational progress and debt servicing updates regarding subsidiary IGL Genesis Technologies Limited.
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