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Results
16-Aug-21
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Analysis
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Indraprastha Gas
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Sales up 97%, OP up 356%
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Indraprastha Gas consolidated net sales
increased 96.91% to Rs 1257.39 crore in Q1FY22 compared to Q1FY21. CNG (Compressed natural gas) recorded sales
of Rs. 850.13 crore, registering a 127% growth and PNG (piped natural gas)
recorded sales of Rs. 398.27 crore registering a 54% growth over previous year.
Operating profit margin has jumped from
13.07% to 30.29%, leading to 356.45% rise in operating profit to Rs 380.86
crore. Purchase of finished goods cost
fell from 46.80% to 44.70%. Employee
cost decreased from 4.92% to 2.97%.
Other expenses fell from 35.20% to 22.04%.
Other income fell 2.61% to Rs 29.83
crore. PBIDT rose 260.03% to Rs 410.69
crore. Provision for interest rose
24.05% to Rs 2.94 crore.
PBDT rose 265.04% to Rs 407.75 crore. Provision for depreciation rose 14.14% to Rs
77.81 crore.
Profit before tax grew 657.96% to Rs 329.94
crore. Share of profit/loss was 468.58%
higher at Rs 33.66 crore. Provision for
tax was expense of Rs 85.65 crore, compared to Rs 14.27 crore. Effective tax rate was 23.56% compared to
28.86%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 690.08% to Rs 277.95 crore.
During Q1FY22, CNG sales volume has increased
by 126% to 331.78 million standard cubic metres (mscm) and PNG sales volumes
increased 5% to 151.99 mscm. On an overall basis there is 96% increase in sales
volume during this quarter to 483.77 mscm over corresponding quarter of FY21.
Promoters’ stake was 45.00% as of 30 June
2021 compared to 45.00% as of 30 June 2020 .
Full
year results analysis
Net of Indraprastha Gas has declined 23.82%
to Rs 4940.8 crore. CNG (Compressed
natural gas) recorded sales of Rs. 3433 crore, registering a 28% de-growth and
PNG (piped natural gas) recorded sales of Rs. 1478 crore registering a 13%
de-growth over previous year.
Operating profit margin has jumped from
23.43% to 30.02%, leading to 2.41% decline in operating profit to Rs 1,482.99
crore. Purchase of finished goods cost
fell from 56.73% to 45.13%. Employee
cost increased from 2.34% to 2.72%.
Other expenses rose from 17.50% to 22.14%.
Other income fell 19.80% to Rs 114.83
crore. Provision for interest rose
39.66% to Rs 11.34 crore. Loan funds
rose to Rs 113.04 crore as of 31 March 2021 from Rs 96.19 crore as of 31 March
2020. Inventories declined from Rs 51.11
crore as of 31 March 2020 to Rs 45.55 crore as of 31 March 2021. Sundry debtors were higher at Rs 260.71 crore
as of 31 March 2021 compared to Rs 170.39 crore as of 31 March 2020. Cash and bank balance declined from Rs
2,179.94 crore as of 31 March 2020 to Rs 1,132.29 crore as of 31 March 2021. Investments rose to Rs 2,288.40 crore as of
31 March 2021 from Rs 630.22 crore as of 31 March 2020 .
Provision for depreciation rose 15.12% to Rs
290.39 crore. Fixed assets increased to
Rs 5,150.74 crore as of 31 March 2021 from Rs 4,315.42 crore as of 31 March
2020. Intangible assets declined from Rs
18.17 crore to Rs 17.07 crore.
Profit before tax shrink 7.58% to Rs 1,296.09
crore. Share of profit/loss was 18.33%
lower at Rs 125.81 crore. Provision for
tax was expense of Rs 249.35 crore, compared to Rs 307.51 crore. Effective tax rate was 17.54% compared to 19.76%.
Net profit attributable to owners of the
company decreased 6.12% to Rs 1,172.55 crore.
During FY21, CNG sales volume has decreased
by 22% to 1357 million standard cubic metres (mscm) and PNG sales volumes
decreased 5% to 587 mscm. On an overall basis there is 18% decrease in sales
volume to 1944 mscm over FY20.
Promoters’ stake was 45.00% as of 31 March
2021 compared to 45.00% as of 31 March 2020 .
Cash flow from operating activities increased
to Rs 1,545.97 crore for year ended March 2021 from Rs 1,360.75 crore for year
ended March 2020. Cash flow used in
acquiring fixed assets during the year ended March 2021 stood at Rs 882.92
crore, compared to Rs 963.22 crore during the year ended March 2020.
The scrip is currently trading at Rs 544 on
the BSE.
Indraprastha
Gas : Consolidated Results
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Particulars
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2106
(03)
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2006
(03)
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Var.(%)
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2103
(12)
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2003
(12)
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Var.(%)
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Net
Sales
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1,257.39
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638.57
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97
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4,940.80
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6,485.27
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-24
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OPM
(%)
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30.3
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13.1
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30.0
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23.4
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OP
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380.86
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83.44
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356
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1,482.99
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1,519.64
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-2
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Other
Inc.
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29.83
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30.63
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-3
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114.83
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143.18
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-20
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PBIDT
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410.69
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114.07
|
260
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1,597.82
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1,662.82
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-4
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Interest
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2.94
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2.37
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24
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11.34
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8.12
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40
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PBDT
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407.75
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111.7
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265
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1,586.48
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1,654.70
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-4
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Depreciation
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77.81
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68.17
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14
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290.39
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252.25
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15
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PBT
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329.94
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43.53
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658
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1296.09
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1402.45
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-8
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Share
of Profit/(Loss) from Associates
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33.66
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5.92
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469
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125.81
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154.05
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-18
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PBT
before EO
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363.6
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49.45
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635
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1421.9
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1556.5
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-9
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EO
Income
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0
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0
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-
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0
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0
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-
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PBT
after EO
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363.6
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49.45
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635
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1421.9
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1556.5
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-9
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Taxation
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85.65
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14.27
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500
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249.35
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307.51
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-19
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PAT
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277.95
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35.18
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690
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1172.55
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1248.99
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-6
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Minority
Interest (MI)
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0
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0
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-
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0
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0
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-
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Net
profit
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277.95
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35.18
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690
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1172.55
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1248.99
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-6
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EPS
(Rs)*
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#
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#
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|
16.8
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17.8
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Notes
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*
EPS is on current equity of Rs 140.00 crore, Face value of Rs 2, Excluding
extraordinary items.
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#
EPS is not annualised
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bps
: Basis points
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EO
: Extraordinary items
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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