Indraprastha Gas - Record Margins, Volume Recovery Drive Q3 Earnings: Prabhudas Lilladher

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Prabhudas Lilladher Report

Indraprastha Gas Ltd. remains an enviable business model with high volume growth due to geographical expansion and addition of new buses and taxis.

Also, shift to private vehicle ownership post Covid-19 pandemic to drive compressed natural gas volumes.

The company remains a play on rising pollution concerns as ban on competing industrial fuel is a major positive.

Q3 FY21 volumes improved sharply from H1 levels as economic activity gathers pace and were at 576 million standard cubic meter (down 6% YoY).

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