In a notable development, the Indraprastha Gas Limited (IGL) provided a total of 272,000 new piped natural gas (PNG) connections during 2019-20. Further, IGL had set up 55 new compressed natural gas (CNG) stations during the last fiscal year, increasing the total no. of CNG stations to 557. The development comes in light of the massive push given by the government to expand CNG and PNG infrastructure across the country.
In terms of growth, during 2019-20, IGL’s total sales volume increased by 9 per cent over 2018-19, with CNG registering an increase of 8.4 per cent in volumes and PNG recording 12 per cent volume growth. With respect to its earnings, the consolidated profit after tax of IGL, after considering the contribution of associate companies, namely Central UP Gas Limited and Maharashtra Natural Gas Limited stood at Rs 12.49 billion in 2019-20.
With regard to its future plans, IGL has planned to consolidate its presence in the existing areas. It also plans to expand its presence in new geographical areas. Furthermore, it aims to improve its record of setting up new PNG connections with rigid targets. IGL is also working on its plans to set up new liquefied natural gas/liquefied-to-compressed natural gas stations, provide consultancy services for setting up city gas distribution projects and manufacturing gas meters, and promote the use of natural gas in home appliances, besides exploring new business avenues. Meanwhile, according to IGL, the court orders of replacing furnace oil and pet coke with natural gas are expected to drive growth in this segment.
In spite of the disruptions caused by the ongoing pandemic, IGL is firm on maintaining uninterrupted gas supply and continue with its expansion plans. The natural gas distributor has already devised plans to set up new CNG stations and develop pipeline infrastructure in its current areas of operations as well as in newly acquired areas.