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Results
18-May-22
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Analysis
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Indraprastha Gas
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Sales up 55%, OP up 2%
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Indraprastha Gas consolidated net sales
increased 55.16% to Rs 2405.92 crore in Q4FY22 compared to Q4FY21. Operating
profit margin has declined from 31.71% to 20.80%, leading to 1.77% rise in
operating profit to Rs 500.46 crore.
Purchase of finished goods cost rose from 46.06% to 63.10%. Employee cost decreased from 2.21% to 1.60%.
Other expenses fell from 20.03% to 14.50%.
Other income rose 165.87% to Rs 74.39
crore. PBIDT rose 10.60% to Rs 574.85
crore. Provision for interest rose
34.44% to Rs 4.88 crore.
PBDT rose 10.44% to Rs 569.97 crore. Provision for depreciation fell 1.12% to Rs
75.27 crore.
Profit before tax grew 12.43% to Rs 494.70
crore. Share of profit/loss was 64.01%
higher at Rs 72.33 crore. Provision for
tax was expense of Rs 136.1 crore, compared to Rs 108.99 crore. Effective tax rate was 24.00% compared to
22.51%.
Net profit attributable to owners of the
company increased 14.88% to Rs 430.93 crore.
Equity capital stood at Rs 140.00 crore as of
31 March 2022 to Rs 140.00 crore as of 31 March 2021. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 45.00% as of 31 March
2022 ,compared to 45.00% as of 31 March 2021.
During Q4FY22, CNG sales volume has increased
by 16% to 509 million standard cubic metres (mscm) and PNG sales volumes
increased 7% to 188 mscm. On an overall basis there is 14% increase in sales
volume during this quarter to 697 mscm over corresponding quarter of Q4FY21.
Full
year results analysis
Net sales of Indraprastha Gas have increased
56.05% to Rs 7709.96 crore. Operating
profit margin has declined from 30.02% to 24.40%, leading to 26.85% rise in
operating profit to Rs 1,881.11 crore.
Purchase of finished goods cost rose from 45.13% to 56.99%. Employee cost decreased from 2.72% to
2.28%. Other expenses fell from 22.14%
to 16.34%.
Other income rose 56.44% to Rs 179.64
crore. PBIDT rose 28.97% to Rs 2060.75
crore. Provision for interest rose
16.49% to Rs 13.21 crore. Loan funds
declined from Rs 113.04 crore as of 31 March 2021 to Rs 107.64 crore as of 31
March 2022. Inventories declined from Rs
45.55 crore as of 31 March 2021 to Rs 45.52 crore as of 31 March 2022. Sundry debtors were higher at Rs 520.56 crore
as of 31 March 2022 compared to Rs 260.71 crore as of 31 March 2021. Cash and bank balance rose to Rs 1,361.64
crore as of 31 March 2022 from Rs 1,132.29 crore as of 31 March 2021. Investments rose to Rs 2,625.69 crore as of
31 March 2022 from Rs 2,288.40 crore as of 31 March 2021 .
PBDT rose 29.06% to Rs 2047.54 crore. Provision for depreciation rose 9.18% to Rs
317.06 crore. Fixed assets increased to
Rs 6,368.21 crore as of 31 March 2022 from Rs 5,150.74 crore as of 31 March
2021. Intangible assets declined from Rs
17.07 crore to Rs 12.13 crore.
Profit before tax grew 33.52% to Rs 1,730.48
crore. Share of profit/loss was 77.03%
higher at Rs 222.72 crore. Provision for
tax was expense of Rs 450.93 crore, compared to Rs 249.35 crore. Effective tax rate was 23.09% compared to
17.54%.
Net profit attributable to owners of the
company increased 28.12% to Rs 1,502.27 crore.
During FY22, CNG sales volume has increased
by 36% to 1847 million standard cubic metres (mscm) and PNG sales volumes
increased 20% to 704 mscm. On an overall basis there is 31% increase in sales
volume to 2551 mscm over FY21.
Equity capital stood at Rs 140.00 crore as of
31 March 2022 to Rs 140.00 crore as of 31 March 2021. Per share face Value remained same at Rs
2.00.
Promoters stake was 45.00% as of 31 March
2022 compared to 45.00% as of 31 March 2021.
The scrip is currently trading at Rs 388 on
the BSE.
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Indraprastha Gas : Consolidated
Results
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Particulars
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2203
(03)
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2103
(03)
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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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2,405.92
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1,550.63
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55
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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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20.8
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31.7
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24.4
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30.0
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OP
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500.46
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491.76
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2
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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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74.39
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27.98
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166
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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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574.85
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519.74
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11
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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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4.88
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3.63
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34
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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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569.97
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516.11
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10
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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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75.27
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76.12
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-1
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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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494.7
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439.99
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12
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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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72.33
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44.1
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64
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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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567.03
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484.09
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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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PBT
after EO
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567.03
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484.09
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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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136.1
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108.99
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25
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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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430.93
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375.1
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15
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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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Net
profit
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430.93
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375.1
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15
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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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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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