IGL achieves record numbers in FY23

 Despite a year of high input gas cost, Indraprastha Gas Limited (IGL), the largest CNG distribution company of the country was able to achieve record top line and bottom line numbers in Financial Year 2022-23. In line with the massive push by the government to expand CNG and PNG infrastructure across the country, IGL was able to provide 3.1 lakh new PNG connections in 2022-23 in its areas of operation overcoming various hurdles.

In addition to the above, 81 new CNG stations had been set up during this period, thereby taking the total number of CNG stations set up by IGL to 792.

This was announced by R K Jain, Chairman, IGL, while addressing the shareholders at the 24th Annual General Meeting of the company in New Delhi today through virtual mode.

Addressing the shareholders, Jain informed that during the fiscal, IGL achieved gross turnover of Rs. 15,543 crores and PAT was Rs. 1,445 crore. 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. 1,640 crore. The net worth of the Company was over Rs 7,086 crore as on March 31, 2023. He added that IGL is confident to better its own performance in the ongoing financial year and the first quarter results bear testimony to that fact.

Jain 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. Referring to the diversification plans for future growth, he informed that IGL has set up a new joint venture company, IGL Genesis Technologies Ltd., to manufacture meters as a step towards backward integration.

Highlighting IGL’s commitment to providing sustainable clean energy solutions, Mr. Jain informed that IGL is actively participating under SATAT and GOBAR-DHAN government schemes to facilitate waste management and to promote use of Compressed Bio Gas.

He also disclosed that IGL is exploring opportunities to set up Solar Power and Green Hydrogen generation plants. He added that IGL is already in the process of setting up EV charging and battery swapping facilities.