IRM Energy Reports Mixed Q1 Results Amid Leadership Changes
IRM Energy Limited's Q1 financial results show a 16.5% increase in consolidated revenue to ₹2,624.97 crore, but a 25.6% decrease in PAT to ₹139.21 crore. Total sales volume grew by 14%, with CNG sales up 21%. The company added new customers and signed strategic agreements. However, IRM faces challenges with the unresolved resignation of its COO, Mr. Prashant Sagar.
01Aug 25
IRM Energy Unveils ₹8,600 Crore Investment Plan Amid Q1 Results
IRM Energy Limited has unveiled an ₹8,600 crore investment plan to expand its City Gas Distribution network, focusing on CNG infrastructure, biogas partnerships, and PNG market penetration. The company's Q1 results show a 16.5% increase in revenue to ₹2,624.98 crore, but a 25.6% decrease in profit to ₹139.21 crore. Total gas sales volume grew by 14% to 54.80 mmscm. Strategic initiatives include an MoU with RedTaxi for CNG vehicle retrofitting and a tripartite agreement for Compressed Bio-Gas offtake. The company currently operates 112 CNG stations and serves over 76,000 domestic PNG connections across four Geographical Areas.
01Aug 25
IRM Energy Reports Q1 Results, Declares Rs. 1.50 Dividend and Approves Merger Plans
IRM Energy's Q1 consolidated profit after tax decreased to Rs. 139.21 million from Rs. 187.03 million year-over-year. Revenue from operations increased to Rs. 2,854.78 million, driven by a 14% rise in sales volume. The company declared a dividend of Rs. 1.50 per share and approved plans for a potential merger with Enertech Distribution Management Private Limited. CNG segment sales volumes grew by 21%, while industrial PNG segment showed modest 3% growth. The company continues to expand its City Gas Distribution infrastructure and expects future volume growth.
16Apr 25
IRM Energy Implements Strategy to Offset 20% APM Gas Allocation Cut
IRM Energy Limited faces a 20% reduction in Administrative Price Mechanism (APM) gas allocation from April 16, 2025, as communicated by GAIL (India) Limited. The company has proactively addressed this by securing New Well Gas (NWG) to compensate for the decrease. Management assures that necessary steps have been taken to minimize adverse impacts on profitability.
27Mar 25
IRM Energy Secures 5-Year RLNG Supply Contract with Shell Energy India
IRM Energy Limited has entered into a five-year Regasified Liquefied Natural Gas (RLNG) purchase agreement with Shell Energy India Private Limited. The contract involves a total quantity of 1,23,21,200 MMBtu (approximately 326.84 mmscm) with a Gross Calorific Value of 9500 k/cal. This agreement aims to ensure stable and affordable energy supplies for IRM Energy's customers, supporting industrial and commercial growth while promoting cleaner energy adoption.
26Mar 25
IRM Energy Secures 5-Year RLNG Supply Contract with Shell Energy India
IRM Energy Limited has signed a 5-year Regasified Liquefied Natural Gas (RLNG) purchase agreement with Shell Energy India Private Limited. The deal involves a total quantity of 1,23,21,200 MMBtu, aimed at ensuring stable and affordable gas supply for Industrial and Commercial customers. This strategic partnership is expected to strengthen IRM Energy's sourcing portfolio and enhance its ability to provide cleaner fuel solutions, contributing to India's energy security and sustainability goals.
10Mar 25
IRM Energy Expands CNG Network: 100th Station Inaugurated in Gujarat
IRM Energy has opened its 100th Compressed Natural Gas (CNG) station in Banaskantha, Gujarat. This milestone underscores the company's rapid growth in India's alternative fuel sector and its commitment to expanding cleaner fuel infrastructure. The strategic location in Banaskantha, one of Gujarat's largest districts, serves a wide market range. This expansion aligns with India's push towards cleaner energy alternatives, strengthening IRM Energy's market position and supporting the country's environmental goals.