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Results
26-Jan-23
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Analysis
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Indraprastha Gas
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Sales volume increase 19% in 9MFY23
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Consolidated net sales of Indraprastha Gas
have increased 67.50% to Rs 3710.81 crore in Q3FY23 compared to Q3FY22. Operating profit margin has declined from
21.20% to 11.55%, leading to 8.76% decline in operating profit to Rs 428.47
crore. Purchase of finished goods cost
rose from 62.50% to 77.17%. Employee
cost decreased from 2.15% to 1.18%.
Other expenses fell from 14.17% to 10.10%.
Other income rose 83.54% to Rs 55.74
crore. PBIDT fell 3.15% to Rs 484.21
crore. Provision for interest fell 7.77%
to Rs 2.61 crore.
PBDT fell 3.13% to Rs 481.6 crore. Provision for depreciation rose 10.77% to Rs
92.49 crore.
Profit before tax down 5.93% to Rs 389.11
crore. Share of profit/loss was 15.76%
lower at Rs 55.8 crore. Provision for
tax was expense of Rs 110.85 crore, compared to Rs 105.13 crore. Effective tax rate was 24.92% compared to
21.91%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company decreased 10.86% to Rs 334.06 crore.
During Q3FY23, CNG sales volume has increased
by 8% to 558.76 million standard cubic metres (mscm) and PNG sales volumes
increased 1% to 188.3 mscm. On an overall basis there is 6% increase in sales
volume during this period to 747.06 mscm over corresponding period of FY22.
Promoters’ stake was 45.00% as of 31 December
2022 ,compared to 45.00% as of 31 December 2021 .
For
year-to-date (YTD) results analysis
Net sales of Indraprastha Gas have increased
97.18% to Rs 10458.67 crore.
Operating profit margin has declined from
26.03% to 15.04%, leading to 13.97% rise in operating profit to Rs 1,573.50
crore. Purchase of finished goods cost
rose from 54.22% to 73.09%. Employee cost
decreased from 2.59% to 1.35%. Other
expenses fell from 17.17% to 10.52%.
Other income rose 34.44% to Rs 137.47
crore. PBIDT rose 15.38% to Rs 1710.97
crore. Provision for interest fell 3.48%
to Rs 8.04 crore.
PBDT rose 15.49% to Rs 1702.93 crore. Provision for depreciation rose 11.50% to Rs
269.59 crore.
Profit before tax grew 16.27% to Rs 1,433.34
crore. Share of profit/loss was 21.17%
higher at Rs 185.87 crore. Provision for
tax was expense of Rs 377.07 crore, compared to Rs 314.83 crore. Effective tax rate was 23.29% compared to
22.71%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 15.94% to Rs 1,242.14 crore. During 9MFY23, CNG sales volume has increased
by 24% to 1658.81 million standard cubic metres (mscm) and PNG sales volumes
increased 7% to 550.26 mscm. On an overall basis there is 19% increase in sales
volume during this period to 2209.07 mscm over corresponding period of FY22.
Promoters’ stake was 45.00% as of 31 December
2022 ,compared to 45.00% as of 31 December 2021.
The scrip is currently trading at Rs 413 on
the BSE.
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Indraprastha Gas : Consolidated
Results
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Particulars
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2212
(03)
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2112
(03)
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Var.(%)
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2212
(09)
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2112
(09)
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Var.(%)
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2203
(12)
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2103
(12)
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Var.(%)
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Net
Sales
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3,710.81
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2,215.46
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68
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10,458.67
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5,304.04
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97
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7,709.96
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4,940.80
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56
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OPM
(%)
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11.6
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21.2
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15.0
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26.0
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24.4
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30.0
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OP
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428.47
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469.61
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-9
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1,573.50
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1,380.65
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14
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1,881.11
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1,482.99
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27
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Other
Inc.
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55.74
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30.37
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84
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137.47
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102.25
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34
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179.64
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114.83
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56
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PBIDT
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484.21
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499.98
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-3
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1,710.97
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1,482.90
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15
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2,060.75
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1,597.82
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29
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Interest
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2.61
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2.83
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-8
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8.04
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8.33
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-3
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13.21
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11.34
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16
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PBDT
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481.6
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497.15
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-3
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1,702.93
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1,474.57
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15
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2,047.54
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1,586.48
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29
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Depreciation
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92.49
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83.5
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11
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269.59
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241.79
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12
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317.06
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290.39
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9
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PBT
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389.11
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413.65
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-6
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1433.34
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1232.78
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16
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1730.48
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1296.09
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34
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Share
of Profit/(Loss) from Associates
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55.8
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66.24
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-16
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185.87
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153.39
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21
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222.72
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125.81
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77
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PBT
before EO
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444.91
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479.89
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-7
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1619.21
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1386.17
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17
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1953.2
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1421.9
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37
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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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0
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0
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-
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PBT
after EO
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444.91
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479.89
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-7
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1619.21
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1386.17
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17
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1953.2
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1421.9
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37
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Taxation
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110.85
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105.13
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5
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377.07
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314.83
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20
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450.93
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249.35
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81
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PAT
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334.06
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374.76
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-11
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1242.14
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1071.34
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16
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1502.27
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1172.55
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28
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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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0
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0
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-
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Net
profit
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334.06
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374.76
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-11
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1242.14
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1071.34
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16
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1502.27
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1172.55
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28
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EPS
(Rs)*
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#
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#
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#
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#
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21.5
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16.8
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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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