INR depreciation could offset cost savings
Further rupee depreciation may erode the INR 1/SCM benefit from Gujarat VAT reduction, as RLNG costs are dollar-denominated.
IGL / Q2-FY26 / risks
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Indraprastha Gas · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
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DTC/DIMS transition to EVs continues to drag CNG volumes
The ongoing shift of DTC and DIMS buses to electric mobility reduces CNG sales, though the impact is diminishing.
Soft LPG prices causing fuel switching in industrial segment
Lower LPG prices (crude at $60-65) have led some industrial customers to switch from PNG to propane, impacting PNG growth.
Saudi JV execution and regulatory risks
The Saudi venture is at an early stage; tender details and regulatory approvals are pending, with no guarantee of winning bids.