Indraprastha Gas Ltd. benchmarking: Perfomance to industry peers

Financial

	Indraprastha Gas	Gujarat Gas	Mahanagar Gas
Operational Metrics
City Gas
Daily Sales Volume - PNG	2.37 mmscmd	5.54 mmscmd	1.37 mmscmd
Volume Growth - PNG	7.0 %	n/a	n/a
Realization / SCM - PNG	47.26 Rs/SCM	n/a	47.14 Rs/SCM
Infrastructure
Realization / SCM - CNG	46.9 Rs/SCM	n/a	48.6 Rs/SCM
Daily Sales Volume - CNG	6.86 mmscmd	3.33 mmscmd	3.33 mmscmd
Volume Growth - CNG	5.0 %	n/a	n/a
Oil Refining
Realization / SCM - Natural Gas	46.99 Rs/SCM	50.86 Rs/SCM	48.2 Rs/SCM
Volume Growth - Natural Gas	6.0 %	n/a	n/a
Daily Sales Volume - Natural Gas	9.13 mmscmd	8.88 mmscmd	4.7 mmscmd
Financials
5 yr Average ROE	19.15 %	20.27 %	20.6 %
5yr average Equity Multiplier	1.49	1.63	1.43
5yr Average Asset Turnover Ratio	0.86	1.41	0.93
5yr Avg Net Profit Margin	16.1 %	8.82 %	15.76 %
Price to Book	2.8	3.3	2.03
P/E	17.82	24.47	12.88
5yr Avg Cash Conversion Cycle	-11.39 Days	2.45 Days	-13.12 Days
Inventory Days	1.73 Days	1.35 Days	1.98 Days
Days Receivable	19.12 Days	21.81 Days	15.11 Days
Days Payable	39.82 Days	18.78 Days	30.15 Days
5yr Average Interest Coverage Ratio	80.54	25.53	114.25
5yr Avg ROCE	20.51 %	22.88 %	25.61 %
5yr Avg Operating Profit Margin	19.91 %	14.43 %	23.23 %
5 yr average Debt to Equity	0.0	0.06	0.0
5yr CAGR Net Profit	7.94 %	-2.0 %	5.66 %
5yr Average Return on Assets	12.89 %	12.23 %	14.46 %
Shareholdings
Promoter Holding	45.0 %	60.89 %	32.5 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.0	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	2.92 %	-2.97 %	8.6 %

	Indraprastha Gas	Gujarat Gas	Mahanagar Gas
Product Wise Break-Up	Product Wise Break-Up Compressed Natural Gas (CNG) 74.01 Piped Natural Gas (PNG) 25.73 Commercial PNG 0 Domestic PNG 0 CNG 0 Industrial PNG 0 City Gas 0 PNG 0 Others 0.26	Product Wise Break-Up CNG 21.8 City Gas 0 Industrial PNG 68.4 Compressed Natural Gas (CNG) 0 Domestic PNG 8.1 PNG 0 Commercial PNG 1.7 Piped Natural Gas (PNG) 0	Product Wise Break-Up CNG 72.19 City Gas 0 Industrial PNG 0 Compressed Natural Gas (CNG) 0 Domestic PNG 0 PNG 27.52 Commercial PNG 0 Piped Natural Gas (PNG) 0 Others 0.29
Location Wise Break-Up	Location Wise Break-Up NCR 100.0 Rest of the World 0	Location Wise Break-Up NCR 0 Rest of the World 0 Others 100	Location Wise Break-Up NCR 0 Rest of the World 0 Others 100
Gas Marketing Mix	Gas Marketing Mix Non-APM (Non - Administrative Price Mechanism) 38.0 APM 37.0 Regasified Liquefied Natural Gas (RLNG) 19.0 PMT (Panna-Mukta and Tapti) 0 Others 6.0	-	-
Asset Break-Up	Asset Break-Up Others 100	-	-