Q3 2024 Indraprastha Gas Ltd Earnings Call Transcript
Key Points
- Indraprastha Gas Ltd (BOM:532514) reported a 41% year-on-year increase in PAT, rising from INR278 crore to INR392 crore.
- Sales volume grew by 4% year-on-year, reaching 8.48 MMSCMD.
- EBITDA increased by 32% year-on-year to INR564 crore.
- The company is focusing on LNG and CBG to improve volume and profitability, with plans to set up 10 LNG stations and 16 new CNG stations.
- Indraprastha Gas Ltd (BOM:532514) is planning to diversify into renewables and set up a small-scale LNG plant to utilize idle capacity at CNG stations.
- EBITDA per SCM declined from INR8.6 in Q2 to INR7.23 in the current quarter due to a decrease in APM allocation for the priority sector.
- The industrial segment lagged behind due to the price of alternate fuels, impacting overall sales.
- The company expects APM allocation to decrease further in the medium term, which could impact margins.
- There is a significant impact from the conversion of DTC buses to electric, which has already seen 40% of the fleet converted, affecting CNG sales.
- The company faces challenges in ramping up CBG volumes due to issues with feedstock availability and logistics.
Ladies and gentlemen, good day, and welcome to Q3 FY24 earnings conference call for Indraprastha Gas Limited hosted by Nirmal Bang Equities Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Ramesh from Nirmal Bang Equities. Thank you and over to you, sir.
Thank you and good evening. It gives me great pleasure to welcome you all on behalf of Nirmal Bang Institutional Equities for this 3Q FY24 earnings call with the management of Indraprastha Gas. The company's is represented by Shri. Kamal Kishore Chatiwal, Managing Director; Shri. Pawan Kumar, Director, Commercial; Shri. Sanjay Kumar, Chief Financial Officer; and Shri. Manjeet Singh Gulati, Chief General Manager, Finance.
So may I request the management to give their opening comments and then we shall throw the floor open for questions. Over to you, sir.
A very good afternoon to all of
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