IGL provides record 3.1 lakh PNG connections in 2020-21 despite curbs

New Delhi: In line with the massive push by the government to expand CNG and PNG infrastructure across the country, Indraprastha Gas Limited (IGL), provided record number of 3.1 lakh new PNG connections in 2020-21 in its areas of operation despite the fiscal being heavily impacted by COVID restrictions. In addition to the above, 62 new CNG stations had been set up during this period, thereby taking the total number of CNG stations set up by IGL to 612. This was announced by Arun Kumar Singh, Chairman, IGL, while addressing the shareholders at the 22nd Annual General Meeting of the company in New Delhi today through virtual mode.

Addressing the shareholders, Singh informed that in the Covid affected year of 2020-21, IGL achieved gross turnover of Rs. 5409 Crores and PAT was Rs. 1006 Crores. The consolidated PAT of IGL after considering the contribution of the Associate Companies namely, Central UP Gas Limited (CUGL) and Maharashtra Natural Gas Limited (MNGL) was Rs. 1173 Crores. The net worth of the Company was over Rs 5800 Crores as on March 31, 2021. He added that with the improved situation and continued support of all stakeholders, IGL is expected to perform better in FY 2021-22.

Singh also gave an overview of future plans of the organization involving consolidation of its presence in existing areas as well as expansion in new geographical areas. Disclosing the diversification plans for future growth, he said that IGL has forayed into Electric vehicle segment and has plans to set up around 50 Electric vehicles charging stations to cater two wheelers/three wheelers by the end of this financial year. He also informed the shareholders about successful use of type IV cylinders in long-haul buses to promote usage of CNG in interstate transport.

Reiterating IGL's commitment to maintain uninterrupted gas supply to its customers despite the challenges due to Covid-19, Mr Singh assured the shareholders that IGL will continue its best efforts for growth and expansion of its network.

He highlighted that the price differential of CNG versus alternate fuels, spread of CNG infrastructure in new geographical areas and building of green corridors will continue to boost the growth of CNG business. While explaining the progress on the PNG front, he stressed that IGL is aiming to improve upon its record in domestic PNG connections with stiff targets.