IRM Energy Limited has filed the transcript of its earnings conference call held on May 9, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing follows the company's board meeting on May 8, 2026, where the audited financial results for Q4FY26 and FY26 were approved. The transcript provides detailed insights into the company's operational performance and future outlook.

Q4FY26 & FY26 Financial Performance

IRM Energy delivered a strong standalone performance in Q4FY26, with profit after tax surging 190.46% year-on-year to ₹13.22 crore. EBITDA (excluding other income) rose 73.17% YoY to ₹30.02 crore, reflecting improved operational efficiency and CNG-driven volume growth. For the full year FY26, the company reported a revenue from operations of ₹1,066.66 crore, a growth of 9.35% YoY, and a PAT of ₹56.89 crore, up 20.92% YoY. The table below summarises the standalone financial highlights:

On a consolidated basis, PAT rose 190.32% YoY in Q4FY26 to ₹12.75 crore, while EBITDA expanded 73.39% YoY to ₹30.05 crore.

Operational Highlights and Expansion

CNG remained the primary growth driver, with volumes growing 21% YoY for FY26. The company expanded its CNG station network to 150 stations as of March 31, 2026, a 26% YoY increase from 111 stations in FY25. The company incurred a capital expenditure of ₹184.35 crore in FY26, including ₹81.33 crore in Q4FY26 alone. Management highlighted that Banaskantha GA contributed 49% of total revenue, while Namakkal and Trichy GA is a high-growth area with 49 stations currently operational.

Balance Sheet and Future Guidance

IRM Energy maintained a debt-light balance sheet with a net cash position of ₹170.40 crore as of FY26. Total debt stood at ₹72.15 crore, significantly reduced from ₹139.57 crore in FY25. For FY27, management guided for double-digit volume growth, targeting over 250 MMSCM compared to 223.67 MMSCM in FY26. The company plans to add 36 CNG stations in FY27 and has allocated ₹150 crore to ₹180 crore for CapEx in the Namakkal and Trichy GA. EBITDA per SCM is expected to improve by 10% to 15% in the coming year.

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. The audio recording of the post-result earnings conference call held on Saturday, May 09, 2026 at 03:00 p.m. (IST) is also available on the company's website, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, IRM Energy published the audited financial results for the quarter and financial year ended March 31, 2026 in the Financial Express (English - National Daily All Edition) and the Financial Express (Gujarati Edition) on May 10, 2026, with a Quick Response (QR) code providing access to the complete financial results. A further regulatory filing dated May 11, 2026, signed by Company Secretary & Compliance Officer Akshit Soni, was submitted to the National Stock Exchange of India Limited and BSE Limited, confirming the newspaper publication and enclosing copies of the newspaper advertisements.

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:

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:

*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%. 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.

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:

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:

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:

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
• Audited results published in the Financial Express (English & Gujarati editions) on May 10, 2026, under Regulation 47; publication confirmed via regulatory filing on May 11, 2026
• 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