Indraprastha Gas Limited

NSEI:IGL Stock Report

Market Cap: ₹284.1b

Indraprastha Gas Valuation

Is IGL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IGL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IGL (₹405.8) is trading above our estimate of fair value (₹174.23)

Significantly Below Fair Value: IGL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IGL?

Key metric: As IGL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for IGL. This is calculated by dividing IGL's market cap by their current earnings.
What is IGL's PE Ratio?
PE Ratio15.4x
Earnings₹18.46b
Market Cap₹284.06b

Price to Earnings Ratio vs Peers

How does IGL's PE Ratio compare to its peers?

The above table shows the PE ratio for IGL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.4x
GUJGASLTD Gujarat Gas
26.3x15.4%₹334.6b
MGL Mahanagar Gas
11.4x1.6%₹129.7b
GSPL Gujarat State Petronet
13x-22.5%₹198.2b
ATGL Adani Total Gas
107.1xn/a₹752.2b
IGL Indraprastha Gas
15.4x3.1%₹284.1b

Price-To-Earnings vs Peers: IGL is good value based on its Price-To-Earnings Ratio (15.4x) compared to the peer average (39.4x).

Price to Earnings Ratio vs Industry

How does IGL's PE Ratio compare vs other companies in the Asian Gas Utilities Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IGL 15.4xIndustry Avg. 14.1xNo. of Companies12PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IGL is expensive based on its Price-To-Earnings Ratio (15.4x) compared to the Asian Gas Utilities industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is IGL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IGL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.4x
Fair PE Ratio19.1x

Price-To-Earnings vs Fair Ratio: IGL is good value based on its Price-To-Earnings Ratio (15.4x) compared to the estimated Fair Price-To-Earnings Ratio (19.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IGL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹405.80
₹484.34
+19.4%
16.0%₹648.00₹355.00n/a32
Nov ’25₹421.70
₹484.50
+14.9%
15.9%₹648.00₹355.00n/a32
Oct ’25₹558.40
₹537.18
-3.8%
14.9%₹700.00₹370.00n/a33
Sep ’25₹552.80
₹526.58
-4.7%
14.9%₹649.00₹370.00n/a33
Aug ’25₹541.65
₹527.18
-2.7%
15.0%₹649.00₹370.00n/a33
Jul ’25₹524.90
₹472.52
-10.0%
12.0%₹610.00₹365.00n/a33
Jun ’25₹441.95
₹470.45
+6.4%
11.2%₹575.00₹365.00n/a33
May ’25₹469.20
₹462.21
-1.5%
10.3%₹540.00₹350.00n/a33
Apr ’25₹440.35
₹459.84
+4.4%
10.1%₹540.00₹350.00n/a32
Mar ’25₹433.75
₹459.16
+5.9%
10.4%₹552.00₹350.00n/a32
Feb ’25₹439.25
₹459.69
+4.7%
10.8%₹552.00₹350.00n/a32
Jan ’25₹421.25
₹460.90
+9.4%
12.8%₹630.00₹335.00n/a30
Dec ’24₹394.75
₹465.06
+17.8%
13.4%₹630.00₹335.00n/a31
Nov ’24₹381.15
₹518.23
+36.0%
13.5%₹630.00₹335.00₹421.7031
Oct ’24₹454.85
₹539.13
+18.5%
11.4%₹630.00₹350.00₹558.4030
Sep ’24₹467.05
₹530.68
+13.6%
14.3%₹630.00₹277.00₹552.8031
Aug ’24₹460.20
₹520.27
+13.1%
15.9%₹630.00₹277.00₹541.6533
Jul ’24₹473.35
₹523.03
+10.5%
15.1%₹630.00₹277.00₹524.9032
Jun ’24₹471.75
₹523.03
+10.9%
15.1%₹630.00₹277.00₹441.9532
May ’24₹495.30
₹503.63
+1.7%
15.1%₹630.00₹277.00₹469.2030
Apr ’24₹428.70
₹485.90
+13.3%
14.4%₹630.00₹277.00₹440.3530
Mar ’24₹439.85
₹478.61
+8.8%
14.0%₹630.00₹277.00₹433.7531
Feb ’24₹423.95
₹480.57
+13.4%
13.2%₹630.00₹277.00₹439.2530
Jan ’24₹413.95
₹475.26
+14.8%
14.3%₹630.00₹277.00₹421.2531
Dec ’23₹434.10
₹467.76
+7.8%
14.3%₹630.00₹277.00₹394.7529
Nov ’23₹424.70
₹467.14
+10.0%
14.3%₹630.00₹277.00₹381.1529

Analyst Forecast: Target price is less than 20% higher than the current share price.

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