Indraprastha Gas Limited (IGL) fair value: what the stock is really worth
We calculate from audited financials what Indraprastha Gas Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range ₹145.62 – ₹268.71 · fair‑value band ₹107.86 – ₹278.80 · the ₹151.98 price screens below the ₹174.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Indraprastha Gas Limited distributes and sells natural gas in India. It supplies compressed natural gas (CNG) to the transport sector; and piped natural gas to domestic, industrial, and commercial sectors. The company operates CNG stations, as well as steel pipeline and MDPE networks.
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Indraprastha Gas Limited distributes and sells natural gas in India. It supplies compressed natural gas (CNG) to the transport sector; and piped natural gas to domestic, industrial, and commercial sectors. The company operates CNG stations, as well as steel pipeline and MDPE networks. It serves households; hotels, restaurants, malls, commercial complexes, educational/religious institutions, and hospitals; and metal, textiles, food and beverages, pharmaceuticals, chemical, auto and ancillary, and packaging industries. The company was incorporated in 1998 and is headquartered in New Delhi, India.
Stock analysis
Indraprastha Gas Limited (IGL) currently trades at ₹151.98, while our model-based Fair Value estimate is ₹174.75, implying the stock looks roughly 13.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹236.48 per share, and 18 of the 26 models we run sit above the ₹151.98 price.
Bear case: the Asset-Based group reads lowest at ₹55.06, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹107.86 (bear) to ₹278.80 (bull), the price of ₹151.98 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Indraprastha Gas Limited reported revenue of ₹162B in FY2026 versus ₹77.1B in FY2022, a compound +20.3%/yr. Reported net income was ₹15.5B in FY2026, compounding +0.8%/yr from FY2022.
Key figures
Market cap ₹213B (≈ $2.2B) · P/E ratio 13.7 · P/S ratio 1.32 · EPS (TTM) ₹11.07 · Dividend yield 3.1% · Net margin 9.6% · Return on equity 13.9% · Return on assets (EBIT) 19.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 32% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −25% fair-value upside, at 15%, IGL screens cheaper than that median.
Fair Value models
Bear ₹107.86Fair Value ₹174.75Bull ₹278.80
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 5 months old). Earnings retained since then (₹2.89 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+8.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+26.8%
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.6%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.1%
Dividend (yield on the price)3.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−9% vs 5%, slowing
Profit margin 2005 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 8%
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.6%
Yearly sales growth analysts expect, extended to five years.
Compare Indraprastha Gas Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Gas · 103 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+3% · Above median
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets5% · Top 25%
Net margin (TTM)10% · Above median
Operating margin (TTM)7% · Below median
Growth and dividend
Revenue growth5% · Top 25%
Dividend yield (TTM)3.1% · Below median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Indraprastha Gas Limited Fair Value". https://www.fairvalue-calculator.com/stock/IGL
Frequently asked questions
Is Indraprastha Gas Limited (IGL) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of ₹174.75 versus a price of ₹151.98, about +15% upside (undervalued).
What is the fair value of IGL?
Our model-based fair value for Indraprastha Gas Limited is ₹174.75 (as of Sep 13, 2026), built from audited fundamentals. The current price: ₹151.98.
What is the quality score of IGL?
Indraprastha Gas Limited has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Indraprastha Gas Limited (IGL)?
Our model-based price target is the fair value of ₹174.75 (as of Sep 13, 2026) from 26 valuation models. Cautious scenario ₹107.86, optimistic scenario ₹278.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Indraprastha Gas Limited stock forecast for 2026?
Our models put fair value at ₹174.75, about +15% upside versus a price of ₹151.98 (undervalued). Cautious scenario ₹107.86, optimistic scenario ₹278.80. The calculation is refreshed regularly with new filings.
What is the revenue of Indraprastha Gas Limited (IGL)?
Indraprastha Gas Limited reported trailing-twelve-month revenue of about ₹162B (latest available figure, as of Sep 13, 2026).
Does Indraprastha Gas Limited pay a dividend?
Indraprastha Gas Limited currently shows a dividend yield of about 3.13% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Indraprastha Gas Limited (IGL)?
For today's price to be fair in a discounted-cash-flow model, Indraprastha Gas Limited would have to grow free cash flow by +10.8 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +26.8 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of IGL use?
Our models discount Indraprastha Gas Limited at 10.9 %: a base by market capitalisation (mid), damped by beta 0.49, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Indraprastha Gas Limited that is +10.8 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Indraprastha Gas Limited (IGL) delivered so far?
Over the past 5 years revenue at Indraprastha Gas Limited grew +26.8 % a year. The price currently implies +10.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Indraprastha Gas Limited (IGL) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Indraprastha Gas Limited (+10.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Indraprastha Gas Limited (IGL)?
The free-cash-flow yield on the price is 4.37 %: that much free cash flow Indraprastha Gas Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Indraprastha Gas Limited (IGL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indraprastha Gas Limited it is ₹174.75 per share (as of Sep 13, 2026), against a price of ₹151.98. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Indraprastha Gas Limited stock overvalued or undervalued in 2026?
As of Sep 13, 2026, IGL trades below its calculated fair value: price ₹151.98, fair value ₹174.75, a gap of about +15% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IGL?
No. The price is what the market pays today (₹151.98); the fair value is what the company's own numbers justify (₹174.75). For Indraprastha Gas Limited the two are ₹22.77 per share apart. That gap is exactly why we show both numbers side by side.
How much is Indraprastha Gas Limited worth?
The market values Indraprastha Gas Limited at about ₹213B (market capitalisation, as of Sep 13, 2026). Per share that is ₹151.98; our models calculate a fair value of ₹174.75 per share.
What do the bullish and bearish scenarios say about IGL?
Our models span a range for Indraprastha Gas Limited: cautious scenario ₹107.86, base ₹174.75, optimistic ₹278.80 per share (as of Sep 13, 2026, price ₹151.98). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IGL?
Indraprastha Gas Limited trades at a price-to-earnings ratio of 13.7 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹174.75 is built from several models across several years. Other multiples: P/B 1.9, P/S 1.4, EV/EBITDA 10.3.
How solid is the balance sheet of Indraprastha Gas Limited (IGL)?
Balance-sheet figures for Indraprastha Gas Limited (as of Sep 13, 2026): return on equity 13.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is IGL from its 52-week high?
Indraprastha Gas Limited trades at ₹151.98, about 32% below its 52-week high of ₹223.11 and 7% above the low of ₹141.74 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of ₹174.75 is for.
Which stocks are comparable to Indraprastha Gas Limited?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, NiSource Inc, Uniper SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Indraprastha Gas Limited stock attractive at the current price?
The data as of Sep 13, 2026: price ₹151.98, calculated fair value ₹174.75 (+15%), Quality Score 53/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IGL calculated?
We run Indraprastha Gas Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹174.75, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.8 % above its aggregate fair value. Indraprastha Gas Limited currently trades 15 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What should I pay attention to with Indraprastha Gas Limited right now?
A fairly wide model range (₹107.86 to ₹278.80) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Indraprastha Gas Limited (IGL) come from?
Earnings per share at Indraprastha Gas Limited grew +9.8 % a year from 2015 to 2026. Broken into its drivers: revenue per share +11.6 %, EBIT margin −6.8 %, tax rate +1.7 %, residual (interest, one-offs) +3.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Indraprastha Gas Limited
How large is the market capitalisation of Indraprastha Gas Limited (IGL)?
The market capitalisation of Indraprastha Gas Limited is ₹213B (≈ $2.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Indraprastha Gas Limited (IGL)?
The price-to-sales ratio of Indraprastha Gas Limited is 1.32 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indraprastha Gas Limited (IGL)?
Earnings per share at Indraprastha Gas Limited are ₹11.07 (price ÷ EPS = P/E 13.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Indraprastha Gas Limited (IGL)?
The dividend yield of Indraprastha Gas Limited is 3.1% (payout 42.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Indraprastha Gas Limited (IGL)?
The net margin of Indraprastha Gas Limited is 9.6% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Indraprastha Gas Limited (IGL)?
The return on equity (ROE) of Indraprastha Gas Limited is 13.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Indraprastha Gas Limited (IGL)?
On an EBIT basis the return on assets of Indraprastha Gas Limited is 19.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indraprastha Gas Limited (IGL)?
The operating margin of Indraprastha Gas Limited is 6.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indraprastha Gas Limited (IGL)?
Revenue at Indraprastha Gas Limited is growing +5.4% versus a year earlier (3y avg +4.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Indraprastha Gas Limited (IGL)?
Earnings per share at Indraprastha Gas Limited are growing −25.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Indraprastha Gas Limited (IGL) hold?
Indraprastha Gas Limited holds more cash than debt, ₹28.3B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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