Indraprastha Gas



Website:
http://www.iglonline.net/

History:

Incorporated in 1998, IGL took over Delhi City Gas Distribution Project in 1999 from GAIL (India) Limited (Formerly Gas Authority of India Limited). The project was started to lay the network for the distribution of natural gas in the National Capital Territory of Delhi to consumers in the domestic, transport, and commercial sectors. With the backing of strong promoters – GAIL (India) Ltd. and Bharat Petroleum Corporation Ltd. (BPCL) – IGL plans to provide natural gas in the entire capital region. The two main business objectives of the company are - To provide safe, convenient and reliable natural gas supply to it’s customers in the domestic and commercial sectors. To provide a cleaner, environment-friendly alternative as auto fuel to Delhi’s residents. This will considerably bring down the alarmingly high levels of pollution. The transport sector uses natural gas as Compressed Natural Gas (CNG), the domestic and commercial sectors use it as Piped Natural Gas (PNG) and R-LNG is being supplied to industrial establishments.

2004

-Indraprastha Gas unveils first online CNG station in Delhi

2006

- Indraprastha Gas Limited has informed that Board in its meeting held on October 30, 2006 approved the appointment of Mr. Om Narayan as Managing Director w.e.f. September 28, 2006. Mr. A. K. De has ceased to be the Managing Director w.e.f. September 28, 2006.

2007

-IGL commences CNG Project activities in Greater Noida -IGL gets up government clearance for city gas distribution in noida

2008

-IGL to set up PNG central control room in Kaka Nagar

2009

- Indraprastha Gas Ltd has appointed Sh. S Radhakrishnan as Chairman of the Board of Directors of the Company w.e.f. January 14, 2009.

- Indraprastha Gas Ltd has appointed Prof. V. Ranganathan as an Additional Director on the Board of the Company w.e.f. November 01, 2009.

-Noida’s First Mother CNG Station Inaugurated

-IGL starts Piped Natural Gas supply in Noida

Promoted by Gail and Bharat Petroleum , Indraprastha Gas company is currently the monopoly distributor of natural gas in the Delhi NCR region to consumers in the domestic, transport, and commercial sectors.

It operates close to 216 gas stations and supplies piped natural gas (PNG) to over 2.5 lakh domestic and 464 commercial consumers. Since it has the ability to pass on hikes in gas prices to its end users, any such rise is not likely to impact its margins much.

The company is in the process of enhancing its compression capacity by adding new stations. On the PNG front, IGL has planned to expand its business activities in Delhi and its neighbouring towns like Noida, Greater Noida and Ghaziabad.

The company also aims to lay natural gas pipe grid in these cities to set up CNG stations. IGL's performance in the last quarter was quite impressive. Its revenues surged 75% to Rs 512 crore while profits rose by 34% to Rs69 crore, compared to the year ago period.

Analyst Opinions
IIFL's Harshvardhan Dole feels that IGL is in a sweet spot and is best placed to benefit from rising gas consumption in India.




Pros:

Good pricing power. Can push the prices to customers.


Interested folks and investors, please discuss this. With an increase in apartments and houses, I have seen folks going for piped gas connections. Can that be done throughout the country?