IRM Energy Q4FY26 PAT Surges 190% YoY; Earnings Call Audio Now Available
IRM Energy reported a 190.46% YoY surge in standalone PAT to ₹13.22 crore in Q4FY26, driven by 22% CNG volume growth, with FY26 standalone PAT at ₹56.89 crore. The board recommended a final dividend of ₹1.5 per equity share, and the audio recording of the Q4FY26 post-result earnings conference call held on May 09, 2026 is now available on the company's website under Regulation 30.
*this image is generated using AI for illustrative purposes only.
IRM Energy reported its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, as approved by the Board of Directors at its meeting held on May 08, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company delivered a sharp improvement in profitability, with standalone profit after tax (PAT) rising 190.46% year-on-year in Q4FY26, driven by strong CNG volume growth and efficient gas sourcing. The board also recommended a final dividend of ₹1.5 per equity share (15% on face value of ₹10 each), subject to shareholder approval at the ensuing Annual General Meeting. Additionally, the board approved the appointment of M/s Dalwadi & Associates, Cost Accountants, as the Cost Auditor for the financial year 2026-27. In continuation of these developments, the audio recording of the post-result earnings conference call held on Saturday, May 09, 2026 at 03:00 p.m. (IST) is now available on the company's website, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Q4FY26 & FY26 Standalone Financial Performance
IRM Energy's standalone financials reflect robust growth across revenue and profitability metrics. Revenue from Operations (net of excise duty) stood at Rs. 2,796.72 million in Q4FY26, compared to Rs. 2,678.61 million in Q4FY25, driven by an overall volume increase of approximately 7%. CNG was the primary growth driver, recording 22% year-on-year volume growth in Q4FY26. The table below presents the key standalone profit and loss metrics:
| Particulars (₹ Crore): | Q4FY26 | Q4FY25 | YoY (%) | Q3FY26 | QoQ (%) | FY26 | FY25 | YoY (%) |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations: | 279.67 | 267.86 | 4.41% | 265.05 | 5.52% | 1,066.66 | 975.48 | 9.35% |
| Total Income: | 309.37 | 297.93 | 3.84% | 295.02 | 4.87% | 1,185.41 | 1,090.76 | 8.68% |
| EBITDA (Excl. Other Income): | 30.02 | 17.33 | 73.17% | 29.69 | 1.10% | 112.22 | 96.33 | 16.49% |
| EBITDA Margin: | 10.73% | 6.47% | 426 bps | 11.20% | -47 bps | 10.52% | 9.88% | 65 bps |
| Profit after Tax: | 13.22 | 4.55 | 190.46% | 15.19 | -12.98% | 56.89 | 47.05 | 20.92% |
| PAT Margin: | 4.73% | 1.70% | 303 bps | 5.73% | -100 bps | 5.33% | 4.82% | 51 bps |
On a standalone basis, basic and diluted earnings per share (EPS) for Q4FY26 stood at Rs. 3.22, compared to Rs. 1.11 in Q4FY25. For FY26, standalone EPS was Rs. 13.86 versus Rs. 11.46 in FY25.
Q4FY26 & FY26 Consolidated Financial Performance
The consolidated financials largely mirror the standalone performance, reflecting the company's integrated operations. The table below summarises the consolidated profit and loss highlights:
| Particulars (₹ Crore): | Q4FY26 | Q4FY25 | YoY (%) | Q3FY26 | QoQ (%) | FY26 | FY25 | YoY (%) |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations: | 279.67 | 267.86 | 4.41% | 265.05 | 5.52% | 1,066.66 | 975.48 | 9.35% |
| Total Income: | 309.37 | 297.92 | 3.84% | 295.02 | 4.86% | 1,185.41 | 1,090.76 | 8.68% |
| EBITDA (Excl. Other Income): | 30.05 | 17.33 | 73.39% | 29.63 | 1.41% | 112.25 | 96.32 | 16.53% |
| EBITDA Margin: | 10.74% | 6.47% | 427 bps | 11.18% | -44 bps | 10.52% | 9.87% | 65 bps |
| Profit after Tax*: | 12.75 | 4.39 | 190.32% | 12.83 | -0.61% | 53.20 | 45.20 | 17.70% |
| PAT Margin: | 4.56% | 1.64% | 292 bps | 4.84% | -28 bps | 4.99% | 4.63% | 35 bps |
*After adjustment of share of profit/(loss) of JCE & Associates
Consolidated basic and diluted EPS for Q4FY26 stood at Rs. 3.11, compared to Rs. 1.07 in Q4FY25. For FY26, consolidated EPS was Rs. 12.96 versus Rs. 11.01 in FY25. The consolidated EBITDA for Q4FY26 stood at Rs. 354.12 million, with EBITDA as a percentage of net revenue from operations at 13%.
Segment-Wise Volume Performance
The company's overall sales volume for Q4FY26 was 58.14 mmscm, compared to 57.10 mmscm in Q4FY25 and 56.07 mmscm in Q3FY26. CNG volumes surged to 35.22 mmscm in Q4FY26 from 28.84 mmscm in Q4FY25, marking a 22% year-on-year increase. For the full year FY26, total volume stood at 223.67 mmscm, with CNG contributing 133.53 mmscm. The segment-wise volume breakdown for Q4FY26 is as follows:
| Segment: | Q4FY26 (mmscm) | Q4FY25 (mmscm) | Change (%) |
|---|---|---|---|
| CNG: | 35.22 | 28.84 | 22% |
| PNG-I&C: | 20.29 | 23.20 | (13%) |
| PNG-D: | 2.63 | 2.40 | 10% |
| Trading: | 0.00 | 2.66 | - |
| Total: | 58.14 | 57.10 | 2% |
During Q4FY26, the company added 2,554 domestic customers, 33 commercial customers, 23 CNG stations, and 2 industrial customers. As of the latest data, IRM Energy caters to 83,262 households, 496 commercial customers, and 223 industrial customers, and operates 150 CNG stations across four operational Geographical Areas spanning six districts.
Debt-Free Balance Sheet and Financial Stability
IRM Energy has continued to strengthen its balance sheet, with total debt declining sharply over three consecutive years. The company's net debt position remains negative, indicating that cash and investments exceed total borrowings. The following table captures the key balance sheet metrics:
| Particulars (₹ Crore): | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Debt (Incl. Long Term Lease): | 228.30 | 139.57 | 72.15 |
| Networth: | 931.76 | 950.72 | 997.53 |
| Debt-Equity (x): | 0.25 | 0.15 | 0.07 |
| Cash and Bank Balance: | 487.78 | 345.32 | 242.55 |
| Investments: | 15.35 | 46.77 | 33.94 |
| Total Cash and Bank Balance: | 503.12 | 392.09 | 276.49 |
| Net Debt: | -259.48 | -205.75 | -170.40 |
On the consolidated balance sheet, total assets stood at Rs. 12,963.10 million as at March 31, 2026, compared to Rs. 12,697.54 million as at March 31, 2025. Total equity attributable to equity holders stood at Rs. 9,975.36 million, while non-current borrowings declined to Rs. 291.77 million from Rs. 519.60 million in the prior year. Net cash generated from operating activities for FY26 was Rs. 1,426.65 million on a consolidated basis.
IPO Proceeds Utilisation
As at March 31, 2026, the company has utilised Rs. 3,014.71 million out of total IPO net proceeds of Rs. 4,957.59 million, with Rs. 1,942.88 million remaining unutilised. The unutilised amount pertains primarily to capital expenditure for the development of the City Gas Distribution network in the Geographical Areas of Namakkal and Tiruchirappalli (Tamil Nadu). The table below provides the utilisation details:
| Object as per Prospectus: | Amount (₹ Mn) | Utilised (₹ Mn) | Unutilised (₹ Mn) |
|---|---|---|---|
| CGD Network Capex (Namakkal & Tiruchirappalli): | 3,072.62 | 1,129.74 | 1,942.88 |
| Repayment of Borrowings: | 1,350.00 | 1,350.00 | 0.00 |
| General Corporate Purposes: | 534.97 | 534.97 | 0.00 |
| Total: | 4,957.59 | 3,014.71 | 1,942.88 |
Key Highlights
- Standalone PAT rose 190.46% YoY to ₹13.22 crore in Q4FY26, compared to ₹4.55 crore in Q4FY25
- Standalone Revenue from Operations grew 4.41% YoY to ₹279.67 crore in Q4FY26
- EBITDA (standalone) expanded 73.17% YoY to ₹30.02 crore in Q4FY26, with margin improving 426 bps to 10.73%
- FY26 standalone PAT stood at ₹56.89 crore, up 20.92% YoY
- Total debt reduced to ₹72.15 crore in FY26 from ₹228.30 crore in FY24, with a debt-equity ratio of 0.07x
- CNG volume grew 22% YoY to 35.22 mmscm in Q4FY26; FY26 CNG volume at 133.53 mmscm
- Final dividend of ₹1.5 per equity share recommended by the board
- Earnings conference call audio recording for Q4FY26 now available on the company's website
- Cost Auditor M/s Dalwadi & Associates appointed for FY2026-27
- Statutory Auditors M/s Mukesh M. Shah & Co. issued an unmodified audit opinion on both standalone and consolidated financial results
Historical Stock Returns for IRM Energy
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.26% | -15.62% | +55.09% | -2.00% | +11.64% | -36.35% |
How quickly does IRM Energy plan to deploy the remaining ₹194.29 crore of IPO proceeds for CGD network development in Namakkal and Tiruchirappalli, and what milestones can investors expect in FY27?
Given the 13% YoY decline in PNG Industrial & Commercial volumes in Q4FY26, what strategic measures is IRM Energy considering to reverse this trend and diversify its revenue mix?
With total debt reduced to just ₹72.15 crore and a negative net debt position, how does IRM Energy plan to allocate its surplus cash — towards accelerated capex, acquisitions of new geographical areas, or enhanced shareholder returns?
20
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
