IGL: A steady performer in the midst of market volatility

Indraprastha Gas Limited (IGL), a city gas distribution (CGD) company, has been making headlines recently with its steady share price performance despite the volatile market conditions. IGL's resilience has been attributed to a combination of factors, including its strong financials, expansion plans, and favourable regulatory environment.

In the last 12 months, IGL's share price has risen by over 20%, outperforming the broader market indices. This growth has been driven by the company's strong financial performance and its expansion into new geographical areas.

IGL's revenue for the fiscal year 2023-24 stood at Rs. 4,073.86 crore, up by 6.91% compared to the previous year. The company's net profit for the same period grew by 17.69% to Rs. 455.80 crore.

The company's growth has been supported by its expansion into new markets, including Kanpur and Lucknow in Uttar Pradesh. IGL is also planning to expand its reach to other cities in the northern region of India.

The company's strong financials and expansion plans have been supported by a favourable regulatory environment. The government has been promoting the use of natural gas as a clean and efficient fuel, which has created a conducive environment for CGD companies like IGL.

Analysts believe that IGL's strong fundamentals and growth prospects make it a good investment for the long term. The company's share price is expected to continue to rise in the coming months and years.

Overall, IGL is a well-managed company with a strong financial track record and significant growth potential. Its steady share price performance in the midst of market volatility is a testament to the company's resilience and bright future prospects.