Reported Earnings • May 11
Full year 2026 earnings released: EPS: ₹12.96 (vs ₹11.01 in FY 2025) Full year 2026 results: EPS: ₹12.96 (up from ₹11.01 in FY 2025). Revenue: ₹11.9b (up 22% from FY 2025). Net income: ₹532.1m (up 18% from FY 2025). Profit margin: 4.5% (down from 4.6% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 2.2% decline forecast for the Gas Utilities industry in India. Duyuru • May 02
IRM Energy Limited to Report Q4, 2026 Results on May 08, 2026 IRM Energy Limited announced that they will report Q4, 2026 results on May 08, 2026 New Risk • Apr 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.2% average weekly change). Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹253, the stock trades at a trailing P/E ratio of 23.1x. Average forward P/E is 15x in the Gas Utilities industry in India. Total loss to shareholders of 15% over the past year. New Risk • Mar 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.09b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹9.09b market cap, or US$98.7m). New Risk • Feb 07
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Feb 04
Third quarter 2026 earnings released: EPS: ₹3.40 (vs ₹2.46 in 3Q 2025) Third quarter 2026 results: EPS: ₹3.40 (up from ₹2.46 in 3Q 2025). Revenue: ₹2.95b (up 18% from 3Q 2025). Net income: ₹139.8m (up 38% from 3Q 2025). Profit margin: 4.7% (up from 4.0% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 1.6% decline forecast for the Gas Utilities industry in India. Duyuru • Jan 29
IRM Energy Limited to Report Q3, 2026 Results on Feb 03, 2026 IRM Energy Limited announced that they will report Q3, 2026 results on Feb 03, 2026 Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹3.06 (vs ₹2.92 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.06 (up from ₹2.92 in 2Q 2025). Revenue: ₹2.87b (up 24% from 2Q 2025). Net income: ₹125.6m (up 4.5% from 2Q 2025). Profit margin: 4.4% (down from 5.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 2 years, while revenues in the Gas Utilities industry in India are expected to remain flat. Duyuru • Nov 08
IRM Energy Limited to Report Q2, 2026 Results on Nov 12, 2025 IRM Energy Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Duyuru • Oct 20
IRM Energy Limited Announces Resignation of Harshal Anjaria, Chief Financial Officer, Effective October 17, 2025 This is in continuation to earlier intimations dated May 22, 2025 and June 30, 2025, regarding the resignation tendered by Mr. Harshal Anjaria, Chief Financial Officer of the Company and subsequent updates thereof. In accordance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, IRM Energy Limited informed that Mr. Harshal Anjaria has been relieved from the services of the Company with effect from the close of business hours on October 17, 2025. New Risk • Sep 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.3% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹330, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Gas Utilities industry in India. Total loss to shareholders of 29% over the past year. Upcoming Dividend • Sep 11
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 18 September 2025. Payment date: 25 October 2025. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: ₹3.39 (vs ₹4.56 in 1Q 2025) First quarter 2026 results: EPS: ₹3.39 (down from ₹4.56 in 1Q 2025). Revenue: ₹2.62b (up 17% from 1Q 2025). Net income: ₹139.2m (down 26% from 1Q 2025). Profit margin: 5.3% (down from 8.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 4.1% decline forecast for the Gas Utilities industry in India. Duyuru • Jul 25
IRM Energy Limited to Report Q1, 2026 Results on Jul 31, 2025 IRM Energy Limited announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • May 17
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹11.01 (down from ₹24.47 in FY 2024). Revenue: ₹10.9b (up 14% from FY 2024). Net income: ₹452.0m (down 47% from FY 2024). Profit margin: 4.1% (down from 9.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 62%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 2.5% decline forecast for the Gas Utilities industry in India. Duyuru • May 10
IRM Energy Limited to Report Q4, 2025 Results on May 15, 2025 IRM Energy Limited announced that they will report Q4, 2025 results on May 15, 2025 Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹285, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Gas Utilities industry in India. Total loss to shareholders of 42% over the past year. New Risk • Feb 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.0% Last year net profit margin: 8.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.0% net profit margin). Duyuru • Feb 04
IRM Energy Limited to Report Q3, 2025 Results on Feb 10, 2025 IRM Energy Limited announced that they will report Q3, 2025 results on Feb 10, 2025 Board Change • Dec 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Additional Non-Executive Non-Independent Director Amit Doshi was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 26
IRM Energy Limited Announces Resignation of Rabindra Nath Nayak as Independent Director informed that Mr. Rabindra Nath Nayak vide his letter dated November 26, 2024, has intimated his resignation as the Independent Director of the Company citing personal reasons. Names of listed entities in which the resigning director holds directorships, indicating the category of directorship and membership of board committee, if any. Diamond Power Infrastructure Limited, Category: Independent Director. Membership in Committees; Audit Committee - Member Nomination and Remuneration Committee - Chairman Risk Management Committee Chairman. Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: ₹2.92 (vs ₹8.60 in 2Q 2024) Second quarter 2025 results: EPS: ₹2.92 (down from ₹8.60 in 2Q 2024). Revenue: ₹2.59b (up 18% from 2Q 2024). Net income: ₹120.1m (down 54% from 2Q 2024). Profit margin: 4.6% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 3.4% decline forecast for the Gas Utilities industry in India. Duyuru • Nov 09
IRM Energy Limited to Report Q2, 2025 Results on Nov 13, 2024 IRM Energy Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Duyuru • Oct 29
IRM Energy Limited Approves Appointment of Akshit Soni as Company Secretary IRM Energy Limited informed that the Board of Directors ("Board") at its meeting held on October 28, 2024, based on the recommendations of the Nomination and Remuneration Committee, has approved the following: Appointment of Mr. Akshit Soni (ACS -34152), Compliance Officer of the Company, as Company Secretary (Key Managerial Personnel) of the Company with effect from October 28, 2024 in terms of the provisions of Section 203 of the Companies Act, 2013 read with the applicable rules framed thereunder. Mr. Akshit Soni holds a bachelor's degree in commerce, an LLB, and is a qualified Company Secretary with more than 10 years of rich experience, including a previous role as Company Secretary at Corrtech International Limited. He possesses extensive expertise in compliance with Secretarial Practices, Company Laws, Securities Law, ROC and Stock Exchange Regulations, SEBI Rules, and FEMA Regulations. His skill set includes managing Pre-IPO activities for both main board and SME Listings, as well as handling Rights Issues, QIP Issues, and complex transactions such as Mergers, Amalgamations, and Demergers for Listed, Unlisted, and Private companies, as well as LLPs. Duyuru • Oct 27
IRM Energy Limited Announces Resignation of Anand Mohan Tiwari as Independent Director IRM Energy Limited informed that Mr. Anand Mohan Tiwari vide his letter dated October 24, 2024, received by the Company on the same day, has tendered his resignation as the Independent Director of the Company citing personal reasons. Consequently, he shall also cease to be Chairman of the Nomination and Remuneration Committee and member of the Audit Committee and Risk Management Committee of the Company. Names of listed entities in which the resigning director holds directorships, indicating the category of directorship and membership of board committee, if any; Transpek Industry Limited, Independent Director in Audit Committee – Member, Nomination and Remuneration Committee – Chairman, Stakeholders Relationship Committee Member, Risk Management Committee Member, Capex Committee – Member. Reported Earnings • Aug 16
First quarter 2025 earnings released: EPS: ₹4.56 (vs ₹8.89 in 1Q 2024) First quarter 2025 results: EPS: ₹4.56 (down from ₹8.89 in 1Q 2024). Revenue: ₹2.53b (up 3.3% from 1Q 2024). Net income: ₹187.0m (down 31% from 1Q 2024). Profit margin: 7.4% (down from 11% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 2.1% decline forecast for the Gas Utilities industry in India. Duyuru • Aug 15
IRM Energy Limited Announces Vivek Vineshbhai Kanasagra, Unable to Join as GA Head (Diu and Gir Somnath) IRM Energy Limited at the Board Meeting held on August 14, 2024 noted that Mr. Vivek Vineshbhai Kanasagra who has been appointed as a GA Head (Diu and Gir Somnath), Senior Management Personnel (SMP) of the Company, is unable to join the Company due to unavoidable circumstances. Duyuru • Aug 04
IRM Energy Limited Approves Board Cessations IRM Energy Limited at its AGM held on August 2, 2024, announced the resolution pertaining to non-reappointment of Mr. Maheswar Sahu, Non-Executive Director of the Company, due for retirement by rotation at its Annual General Meeting held on August 2, 2024, having expressed his unwillingness for reappointment, was approved by the members. Accordingly, he has ceased to be a director of the Company and also as Chairman of the Board of Director with effect from August 02, 2024. Further, the members approved that the vacancy, so created on the Board, be not filled up. The special resolution for regularization of appointment of Mrs. Kaushal Nakrani as Non-Executive Independent Woman Director of the Company for a period of 3 (three) years with effect from June 1, 2024 was not approved by the requisite majority. Accordingly, Mrs. Kaushal Nakrani has ceased to be Additional Non -Executive Independent Woman Director of the Company with effect from August 2, 2024. Board Change • Aug 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Additional Non-Executive Non-Independent Director Amit Doshi was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jul 26
IRM Energy Limited Approves Board Appointments IRM Energy Limited announced that at its EGM held on 8 July 2024, the shareholders approved appointment of Mr. Ramesh Choksi as an additional non-executive non-independent director of the company; Appointment of Mr. Amit Doshi as an additional non-executive non-independent director of the company; Appointment of Mrs. Gala Joshi as an additional non-executive non-independent woman director on the board of the company; Appointment of Mr. Dharamchand Harakchand Jain as an independent director on the board of the company. Reported Earnings • Jul 11
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹24.47 (up from ₹21.18 in FY 2023). Revenue: ₹9.58b (down 7.9% from FY 2023). Net income: ₹856.7m (up 36% from FY 2023). Profit margin: 8.9% (up from 6.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) missed analyst estimates by 4.8%. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 3.0% decline forecast for the Gas Utilities industry in India. Duyuru • Jul 10
Irm Energy Limited Proposes Final Dividend for the Year Ended March 31, 2024 IRM Energy Limited at its August 02, 2024 proposed final dividend of INR 1.50 per equity share of INR 10/- each for the year ended March 31, 2024. Duyuru • Jun 28
IRM Energy Limited, Annual General Meeting, Aug 02, 2024 IRM Energy Limited, Annual General Meeting, Aug 02, 2024, at 11:00 Indian Standard Time. Duyuru • Jun 26
IRM Energy Limited Announces Cessation of Maheswar Sahu as Non-Executive Director IRM Energy Limited at its meeting held on June 26, 2024, announced that Mr. Maheswar Sahu, Non-Executive Director of the Company, due for retirement of director by rotation, in the upcoming Annual General Meeting (AGM), hasexpressed his unwillingness for reappointment as a director of the Company for personal reasons. Duyuru • Jun 13
IRM Energy Limited Announces Resignation of Manas Khaire as Executive Vice President -CNG Projects & O&M, Effective July 15, 2024 IRM Energy Limited announced that the board of director of the company at its adjourned meeting held on June 11, 2024, noted the resignation of Mr. Manas Khaire from the position of executive vice president -CNG Projects & O&M, designated as Senior Management Personnel (SMP) of the company to pursue other opportunities and he will be relieved from the services of the company with effect from close of business hours on July 15, 2024. Duyuru • Jun 05
IRM Energy Limited Announces Resignation of Shikha Jain as Company Secretary & Compliance Officer, Effective June 21, 2024 IRM Energy Limited announced that Ms. Shikha Jain has tendered her resignation from the position of Company Secretary & Compliance Officer of the Company to pursue career opportunity outside the Company and will be relieved from the services of the Company with effect from close of business hours on June 21, 2024. New Risk • Jun 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). High level of non-cash earnings (24% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹471, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Gas Utilities industry in India. Reported Earnings • May 23
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹24.47 (up from ₹20.93 in FY 2023). Revenue: ₹9.80b (down 5.7% from FY 2023). Net income: ₹856.7m (up 36% from FY 2023). Profit margin: 8.7% (up from 6.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) missed analyst estimates by 4.8%. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 4.4% decline forecast for the Gas Utilities industry in India. Duyuru • May 16
IRM Energy Limited to Report Q4, 2024 Results on May 21, 2024 IRM Energy Limited announced that they will report Q4, 2024 results on May 21, 2024 New Risk • Apr 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Share price has been volatile over the past 3 months (9.6% average weekly change). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹558, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Gas Utilities industry in India. Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: ₹6.18 (vs ₹3.87 in 3Q 2023) Third quarter 2024 results: EPS: ₹6.18 (up from ₹3.87 in 3Q 2023). Revenue: ₹2.50b (down 6.5% from 3Q 2023). Net income: ₹237.8m (up 99% from 3Q 2023). Profit margin: 9.5% (up from 4.5% in 3Q 2023). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹599, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 15x in the Gas Utilities industry in India. Board Change • Jan 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Rabindra Nayak was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Jan 06
IRM Energy Limited Announces the Resignation of Geeta Goradia as Director IRM Energy Limited informed that Mrs. Geeta Goradia (DIN: 00074343) vide her letter dated January 05, 2024, received by the Company on January 06, 2024, has tendered her resignation as the Independent Director of the Company citing pre-occupation and other personal business commitments. Consequently, she shall also cease to be member of the Audit Committee, Corporate Social Responsibility Committee, Stakeholders Relationship Committee of the Company. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹551, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 19x in the Gas Utilities industry in India. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹8.60 (vs ₹6.33 in 2Q 2023) Second quarter 2024 results: EPS: ₹8.60 (up from ₹6.33 in 2Q 2023). Revenue: ₹2.40b (down 13% from 2Q 2023). Net income: ₹260.2m (up 39% from 2Q 2023). Profit margin: 11% (up from 6.8% in 2Q 2023). The increase in margin was driven by lower expenses. Duyuru • Nov 04
IRM Energy Limited to Report Q2, 2024 Results on Nov 09, 2023 IRM Energy Limited announced that they will report Q2, 2024 results on Nov 09, 2023 