IGL reports record FY26 gas sales as CNG network reaches 1,024 stations
Indraprastha Gas reported 9.39 MSCMD of gas sales in FY26, added 70 CNG stations and connected 3.70 lakh new PNG households. The company is also evaluating solar, meter manufacturing and CGD acquisition opportunities.
What happened
Indraprastha Gas (IGL) · IGL reported record FY26 gas sales, expanded its CNG network to 1,024 stations and added 3.70 lakh PNG connections. It is pursuing
Key facts
- 9.39 MSCMD record gas sales
- 3,427.21 MSCM cumulative gas volume
- 50 lakh kg per day average CNG sales
- 1 MSCMD industrial sales
- 70 new CNG stations
- 1,024 total CNG stations
- 3.70 lakh new PNG domestic connections
- 500 MWp solar JV plant
- 200 MW solar tender
- 75% final dividend (₹1.5 per share)
- 162.5% interim dividend (₹3.25 per share)
Why this matters
IGL’s evaluation of CGD acquisitions, solar and meter manufacturing signals a push to extend beyond organic gas-network growth through adjacent capabilities and inorganic expansion.
What to watch
- Quarterly gas-sales growth and CNG volume per station, especially whether utilization rises after the 70-station addition.
- CNG price competitiveness versus petrol, diesel and EV total operating costs.
- Changes in domestic administered gas allocation, LNG prices and IGL's spot-gas dependence.
- PNG connection activation rates, consumption per household and customer-acquisition cost.
- Management guidance or capital-allocation announcements on solar, meter manufacturing or CGD acquisitions.
- Regulatory developments affecting CGD exclusivity, gas pricing, pipeline access and renewable-energy participation.
- EV adoption and public-charging expansion in Delhi-NCR and other IGL service areas.
- Prioritize CNG stations in high-utilization corridors, fleet clusters and underserved urban/peri-urban catchments.
- Use the expanded PNG customer base to cross-sell rooftop solar, energy-management services and digital metering where regulation permits.
- Evaluate CGD acquisition targets for geographic adjacency, gas-sourcing synergies and station-network overlap rather than pursuing scale alone.
- Increase long-term gas-sourcing flexibility and monitor administered-gas allocation to protect unit economics as volumes rise.
- Expand fleet partnerships with taxi, delivery, bus and commercial-vehicle operators to raise station utilization faster than retail demand alone.