DTC bus electrification drag on CNG volumes
DTC CNG consumption fell from 1.55 lakh kg/day in Q3 FY25 to 5,000 kg/day in Q3 FY26; expected to reach zero by March 2026. DIMS volumes also declining gradually.
IGL / Q3-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
medium
Rupee depreciation increasing gas costs
INR devaluation of ~7-8% (from 86-87 to 90-91) added INR 2-2.5/SCM to gas costs, partially offsetting regulatory benefits. Further depreciation could pressure margins.
Regulatory hurdles for M&A in CGD sector
Management noted that high penalties on underperforming GAs deter M&A, limiting inorganic growth opportunities despite interest from larger players.