Indraprastha Gas Limited
NSE Symbol IGL
2008-09 vs 2009-10
RESULTS REVIEW
Audited, Cumulative, Non-Consolidated
INDRAPRASTHA Gas has performed VERY WELL in 2009-10.
Net Sales income has increased from Rs.853 Crores in FY 09 to Rs.1078 Crores in FY 10 , YOY , by 26.43% or Rs.225 Crores
Raw Materials Consumption has increased from Rs.411 Crores to Rs.495 Crores , by 20.46 percent YOY or Rs.84 Cr. Other Expenditure has increased by 45.02 percent or Rs.53.3 Crores YOY.
Total Expenditure has increased , less than proportionately, from Rs.620 Crores to Rs.775 Crores – i.e., 24.94% or Rs.155 crores.
Net Profit has therefore increased from Rs.172 Crores to Rs.215 Crores – i.e., by 24.94 % YOY or Rs.43 Crores
Dividend has been enhanced from 40% last year to 45% this year.
Basic EPS on a face value of Rs.10 has increased from Rs.12.32 to Rs.15.39 (i.e.,24.92%)
QUARTERLY RESULTS COMPARISON
The Quarterly Results Figures are given below . Net sales income, expenditure and net profit are almost on par with previous quarter. The Q4 EPS is 3.68 against Q3 EPS of 4.21 and Q4 FY 09 EPS of 2.88 against Face value of Rs.10.
Quarterly figures
Q E 03/10 :: 12/09 :: 09/09 :: 06/09 :: 03/09
Net Sales :: 287.80 :: 284.61 :: 273.14 :: 232.56 :: 227.40
Raw Materials:: 137.84 :: 128.67 :: 124.30 :: 104.08 :: 115.71
Other Exp :: 47.50 :: 44.96 :: 41.90 :: 37.35 :: 33.60
Total Exp :: 215.17 :: 200.89 :: 192.49 :: 166.23 :: 173.33
Net Profit :: 51.49 :: 58.93 :: 56.80 :: 48.27 :: 40.32
Dividend (%) 45 - - - 40
Paid Up Equity:: 140 :: 140 :: 140 :: 140 :: 140
Basic EPS :: 3.68 :: 4.21 :: 4.06 :: 3.45 :: 2.88
News About Indraprastha Gas
The government has increased prices of APM gas by over 100 % to $4.20 per million British thermal units. The APM gas price increase will come into effect once the central government notifies it. APM gas accounts for over 90 per cent of IGL’s gas consumption. Apart from 2.2 million standard cubic metres of gas a day (mscmd) under APM, IGL also buys .308 mscmd of gas from Reliance Industries KG D6 block and .4 mscmd of regassified LNG.
Administered price mechanism (APM) gas is a term used for gas blocks awarded to state-run energy firms on nomination basis. The base price of APM gas supplied by state firms will rise to $4.2 per million British Thermal Units (mBtu), the same as the rate approved for Reliance Industries, bringing about near-uniformity in the cost of the fuel in India.
An estimated 20 per cent rise in prices of compressed natural gas (CNG), following the rise of natural gas prices may reduce demand for CNG cars in the short-term and raise bus and autorickshaw fares. But, in the long run, industry experts feel CNG cars would continue to sell.
CNG costs Rs 21.9 for a kg in Delhi. After the 20 per cent rise, it would cost Rs 26.28 a kg, still cheaper than petrol and diesel at Rs 47.93 and Rs 38.10 a litre, respectively.
"CNG would continue to be far cheaper than other fuel options. I don't think CNG vehicles would be any less attractive in the future," said R C Bhargava, chairman, Maruti Suzuki India.
P Balendran, vice president, GM India, said: "Despite any quantum of hike, CNG will be a success. There will be no major impact on demand, as the overall operational cost of these vehicles will continue to be less that their petrol counterparts.
Indraprastha Gas Ltd (IGL), the sole supplier of compressed natural gas (CNG) in the national capital region, It may increase gas prices by around 1/5th soon.
IGL can be expected to maintain and improve profitability in coming quarters – even if the current quarter may show slight downturn due to decision making delays.
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