20/2/2026, 6:47:01 pm

ICICI Securities recommends buying Indraprastha Gas

Indraprastha Gas reported Q3FY26 EBITDA/PAT of ₹5 bn/₹3.8 bn, beating ICICI Securities estimates. Margins and realizations improved YoY/QoQ, though volumes were hit by lower DTC offtake. The brokerage raised FY26–28 EPS by 3.7–8.4%, citing strong vehicle additions, infra rollout, softer LNG prices and lower Gujarat VAT supporting medium-term growth.