IGL Schedules Q4 FY26 Conference Call on May 19

Indraprastha Gas has announced the scheduling of a conference call to discuss its audited financial results for the quarter and year ended March 31, 2026. The meeting is set to take place on Tuesday, May 19, 2026, at 3:00 PM IST. This announcement follows the company's previous intimation dated May 14, 2026.

Conference Call Details

The conference call will cover the audited financial performance for the fourth quarter and the full financial year. The company has provided a specific link for stakeholders to access the audio recording of the discussion.

S. No.	Particulars	Link
1.	Audio recording	https://www.iglonline.net/uploads/announcement/IGL_Q4_Earning_Conference_Call_March312026.mp3

Compliance and Disclosures

The announcement is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to the Listing Departments of BSE Ltd. and National Stock Exchange of India Ltd. Indraprastha Gas Limited is a joint venture of GAIL (India) Ltd., BPCL, and the Government of NCT of Delhi.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.40%	-0.18%	-1.55%	-15.17%	-21.30%	-37.31%

Morgan Stanley has maintained its Equal-weight rating on Indraprastha Gas with a target price of ₹205, flagging a combination of volume growth concerns, margin pressures, and mixed segment trends that continue to weigh on the company's near-term outlook.

Volume Growth Lagging Peers

The brokerage highlighted that Indraprastha Gas has recorded a 6% YoY volume growth, which trails the performance of its industry peers. This relative underperformance in volume expansion has been a key factor in Morgan Stanley's cautious stance on the stock.

Mixed PNG Growth Trends and Margin Pressures

Alongside the volume concerns, Morgan Stanley pointed to mixed growth trends within the PNG (Piped Natural Gas) segment. The company's EBITDA margins have come in slightly below mid-cycle averages, with higher gas costs and currency impact identified as the primary drivers of this compression.

The following table summarises the key parameters highlighted in Morgan Stanley's assessment:

Parameter:	Details
Rating:	Equal-weight
Target Price:	₹205
Volume Growth (YoY):	6%
PNG Growth Trend:	Mixed
EBITDA Margins:	Slightly below mid-cycle averages
Key Margin Headwinds:	Higher gas costs, currency impact
Cost Offset from Gas Price Hikes:	Nearly 90% of increased costs

Gas Price Hikes Provide Partial Relief

Despite the headwinds, Morgan Stanley noted that recent gas price hikes are expected to offset nearly 90% of the increased costs faced by Indraprastha Gas. This partial mitigation is seen as a meaningful cushion against the ongoing cost pressures stemming from elevated gas prices and adverse currency movements, though the overall margin profile remains a point of monitoring for the brokerage.

The Equal-weight rating reflects a balanced view, with the cost recovery from price hikes providing some support even as volume growth and PNG segment trends remain areas of concern for the company's performance trajectory.