In line with the massive push by the government to expand CNG and PNG infrastructure across the country, Indraprastha Gas Limited (IGL), provided record number of 3.75 lakh new PNG connections in 2021-22 in its areas of operation.
In addition, 99 new CNG stations had been set up during this period, thereby taking the total number of CNG stations set up by IGL to 711.
This was announced by Arun Kumar Singh, Chairman, IGL, while addressing the shareholders at the 23rd Annual General Meeting (AGM) of the company in New Delhi today through virtual mode.
Addressing the shareholders, Singh informed that despite the challenges such as pandemic and the high input gas cost, IGL achieved gross turnover of Rs. 8443 crores and PAT was Rs.1315 crores in FY 2021-22.
“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,” said Singh.
He added that despite continuing challenges of high input cost of gas, IGL is confident of achieving sustainable growth in 2022-23 as well.
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 4 fixed EV charging stations in the National Capital Territory,” he said.
The company is further working towards setting up EV charging facilities at various other sites as well.
Mr. 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 added.
He informed that 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.