IGL / language trends

Read confidence between the lines.

Indraprastha Gas · tone and specificity signals across the available quarters.

Research layer active

Language signals

What changed in management language.

Q1-FY25 · Kamal Kishore Chatiwal

We are targeting 9.5, exiting the fourth quarter at 9.5.

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Q1-FY25 · Kamal Kishore Chatiwal

We are targeting much more closer to 8, or rather in excess of 8.

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Q1-FY25 · Kamal Kishore Chatiwal

CBG would be the cheapest gas available in the country... landed cost to be somewhere around, even 10%-12% cheaper than the APM.

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Q1-FY26 · Mohit Bhatia

We are quite confident and hopeful that around 8%-10% CNG traction will happen.

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Q1-FY26 · Mohit Bhatia

We will try to keep the long term in the range of 7-8. In case if it is on the upper end, we may try to think of giving some benefit to the consumer.

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Q1-FY26 · Mohit Bhatia

The industry has already represented that one is to the sector under GST. Second is the rationalization of excise duty. Third one would be your Gujarat VAT.

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Q2-FY25 · Mohit Bhatia

We have a target of 9.5 million per day, and if we see the Q2 average, we have attained around 9.03. We are hopeful of touching in the balance period of the half year of around 9.5.

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Q2-FY25 · Sanjay Kumar

If you're talking about the reduction, how much price increase it warrants, that is around INR 5 in Delhi and around INR 5.5 to INR 6 in other states.

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Q2-FY25 · Kamal Kishore Chatiwal

We are not seeing too much of conversion to electric at this moment, other than the Delhi Transport Corporation. The private vehicles, additions are definitely there, but the existing numbers continue to be with us.

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Q2-FY26 · Mohit Bhatia

We are confident that INR 7-INR 8, the guidance, we will be able to maintain.

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Q2-FY26 · Mohit Bhatia

Our bigger vision is to create an IGL kind of entity.

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Q2-FY26 · Mohit Bhatia

If we get INR 1+ kind of a benefit in tariff and INR 1 from this VAT reduction, then I think we are in INR 7-INR 8 range.

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Q3-FY25 · Kamal Kishore Chatiwal

We have successfully secured additional gas volumes at competitive price from our existing suppliers... with gas prices of these additional volumes remaining within ₹38-₹40 per SCM.

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Q3-FY25 · Kamal Kishore Chatiwal

If we have a INR 2 increase per kg, then I think INR 2 per SCM, rather, then I think that should take care of us reaching back to around INR 7-INR 8 range.

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Q3-FY25 · Mohit Bhatia

The data shows that EV has been growing by around 4%-5%. That too only in the premium segment. Whereas in the passenger commercial vehicle, the normal category and all, I think CNG is growing fast at around 43%.

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Q3-FY26 · Kamal Kishore Chatiwal

Our vision is to make it queueless. I mean, there should be no queue at stations.

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Q3-FY26 · Kamal Kishore Chatiwal

The long-term guidance remains that seven to eight is our target range.

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Q3-FY26 · Kamal Kishore Chatiwal

We will be exiting the quarter at 10 million, that we are confident.

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Q4-FY25 · Kamal Kishore Chatiwal

We are quite sure that the gas mix available with us or current portfolio is one of the best in the CGD sector.

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Q4-FY25 · Kamal Kishore Chatiwal

Our main concern is how to remain competitive with respect to EV. That is what we are competing against.

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Q4-FY25 · Kamal Kishore Chatiwal

We are confident that first quarter will be in this range [INR 6-7 EBITDA per SCM].

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