Natural gas distribution company Indraprastha Gas Limited (IGL) caters to cooking and vehicular fuel consumers in the domestic, transport and commercial sectors.
The Delhi-based company supplies Compressed Natural Gas (CNG) to the transport sector, Piped Natural Gas (PNG) to the domestic and commercial sectors, and R-LNG to industrial establishments.
The company was set up as a joint venture among GAIL (India) Limited, Bharat Petroleum Corporation Limited (BCCL) and the Government of Delhi in 1998.
IGL primarily supplies natural gas to consumers in Delhi-National Capital Region (NCR) and parts of neighbouring states.
In 1999, the company acquired the Delhi City Gas Distribution Project from GAIL.
To raise money from the capital market, IGL came up with an Initial Public Offering (IPO) in 2003. Subsequently was listed on the National Stock Exchange (NSE) and BSE.
IGL has two associate companies. The Central UP Gas Limited (CUGL) is the gas distributor for Kanpur, Bareilly, Jhansi and Unnao cities in Uttar Pradesh. Maharashtra Natural Gas Limited (MNGL) is engaged in city gas distribution to Pimpri, Chinchwad, Pune, Talegaon, Hinjewadi, Chakan, Nasik and Dhule in Maharashtra. The company also provides piped natural gas to Valsad in Gujarat and Ramanagara in Karnataka.
IGL’s market capitalisation stood at more than ₹30,000 crore as of January 6, 2024. IGL share price has declined 17% in the last three years.
Business operations
With a vast network of 802 CNG stations and a CNG compression capacity of 97.46 Lakh Kg/day, IGL serves nearly 25 lakh domestic customers. The company also caters to 5,486 commercial customers and 4,312 Industrial customers, who use around 15.51 lakh vehicles.
The geographical area covered by the CNG vehicles fuelled by IGL encompasses Delhi, UP’s Ghaziabad, Hapur, Noida, Greater Noida, Shamli, Kanpur, Meerut, Fatehpur, Hamirpur and Muzaffarnagar, and Hariayana’s Rewari, Gurugram, Karnal and Kaithal.
IGL offers PNG services to households in Delhi-NCR as well as in a few districts of Uttar Pradesh, Haryana and Rajasthan.
In FY23, IGL gave over 3.1 lakh new household PNG connections. Its pipeline infrastructure expanded to 22,500 km in FY23 from 18,811 kms in FY22.
IGL has signed a Memorandum of Understanding (MOU) with the country’s largest engineering enterprise Bharat Heavy Electricals Limited (BHEL) for establishing a manufacturing facility. The new facility will be used for refilling Type IV lightweight cylinders with CNG as well as Hydrogen gas.
In a bid to foray into the Electric Vehicle (EV) sector, the company has entered into a partnership with the United Nations Development Programme (UNDP) for installing EV chargers at IGL CNG stations. The Delhi government has selected IGL as a nodal agency for developing EV Charging infrastructure in two districts of the Union Territory.
The company has also set up a battery-swapping facility for two-wheelers.
Indraprastha Gas Financial Highlights
- Revenue: Indraprastha Gas reported revenue of ₹16,541.25 crore in FY26 vs ₹15,261.92 crore in FY25. It showed an increase of 8.38% on a yearly basis.
- Operating Profit: Indraprastha Gas reported an operating profit of ₹1,985.17 crore in FY26 vs ₹2,182.53 crore in FY25. It showed a decrease of 9.04% on a year-on-year basis.
- Net Profit: Indraprastha Gas reported a net profit of ₹1,543.51 crore in FY26 vs ₹1,713.01 crore in FY25. It showed a decrease of 9.89% on a yearly basis.
Indraprastha Gas Quarterly Result Highlights
- Indraprastha Gas reported revenue of ₹4,262.89 crore in Mar 2026, compared with ₹4,156.67 crore in Dec 2025, representing an increase of 2.56% on a quarter-on-quarter (QoQ) basis.
- Indraprastha Gas reported an operating profit of ₹446.60 crore in Mar 2026, compared with ₹503.19 crore in Dec 2025, representing a decrease of 11.25% on a quarter-on-quarter (QoQ) basis.
- Indraprastha Gas reported a profit of ₹338.75 crore in Mar 2026, compared with ₹392.01 crore in Dec 2025, reflecting a decrease of 13.59% on a QoQ basis.
- The earnings per share (EPS) of Indraprastha Gas stood at ₹12.27 during Mar 2026.
