Home / Companies / News /  IGL says record 3.75 lakh new PNG connections provided in FY22

New Delhi: Indraprastha Gas Ltd on Tuesday said it provided record 3.75 lakh new connections for piped cooking gas to households during the financial year 2021-22.

The gas retailer in the national capital region said it had set up 99 new CNG stations during April 2019 and March 2020, taking the total number of CNG stations set to 711.

Addressing the shareholders at the 23rd annual general meeting (AGM) of the company, IGL chairman Arun Kumar Singh said despite the challenges such as the pandemic and the high input gas cost, IGL achieved gross turnover of 8443 crore and PAT was Rs.1315 crore in FY2021-22.

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.1502 crores. The net worth of the company was over Rs. 6900 crores as on March 31, 2022. He added that despite continuing challenges of high input cost of gas, IGL is confident of achieving sustainable growth in 2022-23 as well.

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 is working on various new strategic and business opportunities to secure and expand its market thus expanding organically as well as inorganically.

IGL also has plans to enter into renewable energy space by setting up solar power plants. The company has also forayed into electric vehicle segment and has already commissioned four fixed EV charging stations in the National Capital Territory. The company is further working towards setting up EV charging facilities at various other sites as well.

Singh highlighted that the company is exploring the possibility of putting up a green hydrogen generation plant for blending with natural gas.

In the alternate fuel space, IGL has plans to set up LNG/LCNG fueling stations. It also has plans to invest in start-ups which will give a boost to the government’s start-Up India initiative. Other areas which have been identified by IGL for future growth include ethanol production, green third party logistics, acquisition of a project management consultant company, etc.

He informed that being a customer centric organization, IGL has implemented digital customer on-boarding through various mediums such as web portal, IGL website etc. apart from developing a new web portal for industrial & commercial customers for digitalization of major stages & processes during on boarding of customers.

Reiterating IGL’s commitment to maintaining uninterrupted gas supply to its customers, Singh assured the shareholders that IGL will continue its best efforts for growth and expansion of its network.

Singh highlighted that with an objective to actualise the laudable objective of India a gas based economy, the government has directed to increase the share of natural gas from around 7% to 15% of the primary energy basket by year 2030.

He said that this phase of high input gas costs and volatility would ease out over a period of time and we will soon be in a period of sustained growth. PNGRB has awarded geographical areas for development of CGD networks which covers 98% of the Indian population. With this wide spread coverage, the CGD sector offers numerous opportunities for growth to CGD companies in the country.

Singh assured the shareholders that IGL is aligning its strategy and chalking out a roadmap to seize the emerging opportunities and meet future challenges. He also shared the initiatives undertaken in the areas of health safety and environment as well as CSR.

The shareholders approved the payout of dividend of 275% in annual general meeting.

IGL has a city gas license to sell CNG to automobiles and PNG to households in Delhi, Noida, Greater Noida, Ghaziabad, Hapur, Muzzaffarnagar, Shamli, Fatehpur, Hamirpur & parts of Meerut & Kanpur in Uttar Pradesh; Rewari, Gurugram, Karnal & Kaithal in Haryana; and Ajmer, Pali & Rajsamand in Rajasthan which consists of more than 17500 Kms of pipeline network.

It sells CNG to over 16 lakh vehicles in NCR through a network of 714 CNG stations. It also supplies PNG to nearly 20 lakh households in these cities.

The pipeline network is being further expanded by IGL to cover Chitrakoot, Mahoba and Banda districts of Uttar Pradesh as well.

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