IGL CONSOLIDATING ITS PRESENCE IN NORTH INDIA BY EXPANDING IN OTHER CITIES

Sarkaritel
By Sarkaritel September 26, 2018 21:08

IGL CONSOLIDATING ITS PRESENCE IN NORTH INDIA BY EXPANDING IN OTHER CITIES


Major boost expected in PNG supply to industrial & commercial sectors 

New Delhi, 26th September 2018: Indraprastha Gas Limited (IGL), the largest CNG distribution company of the country, currently operating in Delhi, Noida, Greater Noida, Ghaziabad and Rewari, is now expanding its footprints in other cities of NCR to emerge as a strong player in City Gas Distribution (CGD) in North India.

The company has recently been awarded geographical area in the districts of Muzaffarnagar, Shamli &  part of Meerut (except areas already authorized) in Uttar Pradesh through 9th round of bidding by PNGRB to set up CGD infrastructure in that area. It is well on its track for laying CGD network in the geographical area of Karnal and earmarked area of Gurugram in Haryana. This was announced by Mr. E.S. Ranganathan, Managing Director, IGL while addressing the shareholders at the 19th Annual General Meeting of the company in New Delhi today.

Addressing the shareholders, Mr. Ranganathan 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. He disclosed that IGL has drawn up plan to increase number of CNG stations and pipeline infrastructure to capitalize the additional demand in its areas of operations by investing Rs. 700 Crores in 2018-19. He added that the price differential of CNG versus alternate fuel will continue to drive the conversion of petrol driven private vehicles to CNG mode while stiff targets have been set for PNG domestic connections.

Referring to the directions of judiciary and statutory authorities to replace Furnace Oil  & Petcoke with Natural Gas as industrial fuel, Mr Ranganathan expressed confidence that Commercial & Industrial segment shall get a major boost in Delhi & NCR in coming years. He informed that IGL has entered into MoUs with various parties for setting up of LNG/LCNG stations, conversion of diesel gensets into gas gensets and providing charging facilities for electrical vehicles at CNG stations to add to the future growth of the Company.

Speaking about augmentation of CNG infrastructure undertaken by IGL in 2017-18, Mr Ranganathan shared that 25 new CNG stations had been added in this fiscal year thereby taking the total number of CNG stations to 446. This helped the Company to enhance its total installed compression capacity to 75.61 Lacs kg/day.

Explaining the progress on the PNG front, Mr Ranganathan informed that a record number of over 1,50,000 new domestic PNG customers had been added by IGL in 2017-18. He added that the company was able to achieve growth of 27% in Industrial sector and 16% in Commercial sector, aided by intervention of judiciary and statutory authorities to use clean fuel.

Speaking about the customer centric approach adopted by IGL, Mr Ranganathan shared that IGL is making conscious efforts to upgrade its services by leveraging information technology in all its customer operations. In its effort to augment customer centric initiatives aimed at maximizing the value for them, various innovative services like self-billing, spot-billing and PNG bill payment facility through prepaid IGL Smart Card have been rolled out recently.

Also present on the occasion were Mr. Rajiv Sikka, Director (Commercial), IGL and other directors of the company.

Driven by higher volumes, the net profit of IGL in FY 18 was Rs. 671 crores, which was up 18% over Rs 571 crores in 2016-17. During 2017-18, total sales volume grew by 13% over the previous year with CNG recording 10% growth in volumes and PNG recording volume growth of 18%. 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. 721 Crores in 2017-18. The gross turnover of IGL had increased from Rs. 4205 Crores in 2016-17 to Rs. 5053 Crores in 2017-18.

The shareholders approved the dividend of 100% in Annual General Meeting to be paid to shareowners as recommended by the Board of Directors.

Sarkaritel
By Sarkaritel September 26, 2018 21:08