Indraprastha Gas

NP up 27%

Jun 18, 2020 12:06 IST capital market

Indraprastha Gas net sales excluding excise duty rose 1% during Q4FY20 to Rs 1552.53 crore compared to corresponding previous year quarter. Product wise, CNG (Compressed natural gas) recorded sales of Rs. 1108 crore, registering a flat growth and PNG (piped natural gas) recorded sales of Rs. 430crore also registering a flat growth over previous year. Operating margins of the company rose 280 bps to 24.3%. As a result operating profit of the company rose 14% to Rs 376.74 crore.

Other income of the company fell to Rs 31.26 crore compared to Rs 38.11 crore in Q4FY19. Interest cost was Rs 2.67 crore compared to Rs 0.02 crore in the corresponding previous year period. Depreciation rose 25% to Rs 65.51 crore. PBT as a result rose 7% to Rs 339.82 crore. The effective tax rate fell 430 bps to 28.7% post, which the companys net profit was up 14% at Rs 242.17 crore. Further considering share of profit of associate net profit rose 27% to Rs 290.76 crore

During Q4FY20, CNG sales volume has decreased by 1% to 291 MMSCM and PNG sales volumes increased by 6% over Q4 of FY19 to 158 MMSCM. On an overall basis there is 1% decrease in sales volume during this quarter to 567 MMSCM over corresponding quarter of FY19.

Performance for year ended Mar20

For year ended Mar20, Net sales of the company excluding excise duty rose 12% to Rs 6485.27 crore compared to corresponding previous year quarter.

Operating margins of the company rose 160 bps to 23.4%. As a result operating profit of the company rose 21% to Rs 1519.64 crore.

Other income of the company rose 11% to Rs 143.18 crore compared to Rs 128.45 crore in FY19. Interest cost was Rs 8.12 crore compared to Rs 2.05 crore in the corresponding previous year period. Depreciation rose 25% to Rs 252.25 crore. PBT as a result rose 19% to Rs 1402.45 crore. The effective tax rate fell 1420 bps to 21.9% post, which the companys PAT was up 45% at Rs 1094.94 crore. Further considering share of profit of associate net profit rose 48% to Rs 1248.99 crore

The scrip is currently trading at Rs 454 on the BSE.

Indraprastha Gas : Results

 

Particulars 2003 (3) 1903 (3) Var. (%) 2003 (12) 1903 (12) Var. (%)
Income from Operations 1,552.53 1,542.64 1 6485.27 5764.84 12
OPM (%) 24.3 21.5 23.4 21.8
OP 376.74 331.20 14 1519.64 1256.98 21
Other income 31.26 38.11 -18 143.18 128.45 11
PBIDT 408.00 369.31 10 1662.82 1385.43 20
Interest 2.67 0.02 999 8.12 2.05 296
PBDT 405.33 369.29 10 1654.70 1383.38 20
Depreciation 65.51 52.24 25 252.25 201.07 25
PBT 339.82 317.05 7 1402.45 1182.31 19
Tax Expenses 97.65 104.73 -7 307.51 427.17 -28
PAT 242.17 212.32 14 1094.94 755.14 45
Share of profit of Associates 48.59 15.76 208 154.05 86.96 77
Net Profit 290.76 228.08 27 1248.99 842.10 48
EPS (Rs)* # # 17.8 12.0
EPS on current equity of Rs 140.00 crore. Face Value: Rs 2 each
# EPS not annualized due to seasonality of business
LP: Loss to Profit PL: Profit to Loss;EO: Extraordinary items
Var. (%) exceeding 999 has been truncated to 999
EPS is calculated after excluding EO and relevant tax
Figures in Rs crore
Source: Capitaline Corporate Database

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