IRM ENERGY LTD (IRMENERGY) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of IRM ENERGY LTD ₹233, price ₹258, upside -9.5%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 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 27, 2026.
How to read this chart
35‑month range ₹176.06 – ₹599.72 · fair‑value band ₹174.96 – ₹291.60 · the ₹257.70 price screens above the ₹233.28 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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IRM Energy Limited, a city gas distribution company, engages in the laying, building, operating, and expanding of city and local natural gas distribution networks in India. The company supplies piped natural gas (PNG) to industrial, commercial, and domestic customers; and compressed natural gas (CNG) to automotive customers through retail stations.
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IRM Energy Limited, a city gas distribution company, engages in the laying, building, operating, and expanding of city and local natural gas distribution networks in India. The company supplies piped natural gas (PNG) to industrial, commercial, and domestic customers; and compressed natural gas (CNG) to automotive customers through retail stations. It operates in Banaskantha, Fatehgarh Sahib, Diu and Gir Somnath, and Namakkal and Tiruchirappalli. As of March 31, 2025, it operated 5,671-inch square kilometers of MDPE and steel pipelines and 111 CNG stations; and served 214 PNG industrial customers, 412 PNG commercial customers, and 75,005 PNG domestic customers. The company was formerly known as IRM Energy Private Limited and changed its name to IRM Energy Limited in March 2022. IRM Energy Limited was incorporated in 2015 and is based in Ahmedabad, India.
Stock analysis
IRM ENERGY LTD (IRMENERGY) currently trades at ₹257.70, while our model-based Fair Value estimate is ₹233.28, so the stock looks roughly fairly valued today (gap 10.5%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹405.38 per share, and 7 of the 16 models we run sit above the ₹257.70 price.
Bear case: the Economic Profit group reads lowest at ₹141.99, and 9 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹174.96 (bear) to ₹291.60 (bull), the price of ₹257.70 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 48/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
IRM ENERGY LTD reported revenue of ₹10.7B in FY2026 versus ₹5.1B in FY2022, a compound +20.5%/yr. Reported net income was ₹532M in FY2026, compounding −19.7%/yr from FY2022.
Key figures
Market cap ₹10.6B (≈ $110M) · P/E ratio 19.9 · P/S ratio 0.99 · EPS (TTM) ₹12.97 · Dividend yield 0.6% · Net margin 5.0% · Return on equity 5.5% · Return on assets (EBIT) 14.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 46% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at 2% fair-value upside, at −9%, IRMENERGY screens richer than that median.
Fair Value models
Bear ₹174.96Fair Value ₹233.28Bull ₹291.60
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 6 months old). Earnings retained since then (₹5.78 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+9.3%
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.
+2.9%
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.
+41.4%
Start year 2021 (pandemic)
Revenue growth 7 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.
+46.3%
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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.
+9.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.5%
Dividend (yield on the price)0.6%
Profit margin 2021 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.32% → 6%
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 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−9.5% · Below median
Profitability
Return on equity (TTM)5.5% · Below median
Return on assets3.3% · Above median
Net margin (TTM)5.0% · Below median
Operating margin (TTM)6.4% · Below median
Growth and dividend
Revenue growth4.4% · Above median
Dividend yield (TTM)0.6% · Bottom 25%
Balance sheet
Debt / equity0.03× · Lowest 25%
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
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Cite: Fair Value Calculator (2026). "IRM ENERGY LTD Fair Value". https://www.fairvalue-calculator.com/stock/IRMENERGY
Frequently asked questions
Is IRM ENERGY LTD (IRMENERGY) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹233.28 versus a price of ₹257.70, about −9% upside (fairly valued).
What is the fair value of IRMENERGY?
Our model-based fair value for IRM ENERGY LTD is ₹233.28 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹257.70.
What is the quality score of IRMENERGY?
IRM ENERGY LTD has a Quality Score of 48/100. 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 IRM ENERGY LTD (IRMENERGY)?
Our model-based price target is the fair value of ₹233.28 (as of Sep 27, 2026) from 16 valuation models. Cautious scenario ₹174.96, optimistic scenario ₹291.60. It is a calculation from audited fundamentals, not an analyst target.
What is the IRM ENERGY LTD stock forecast for 2026?
Our models put fair value at ₹233.28, about −9% upside versus a price of ₹257.70 (fairly valued). Cautious scenario ₹174.96, optimistic scenario ₹291.60. The calculation is refreshed regularly with new filings.
What is the revenue of IRM ENERGY LTD (IRMENERGY)?
IRM ENERGY LTD reported trailing-twelve-month revenue of about ₹10.7B (latest available figure, as of Sep 27, 2026).
Does IRM ENERGY LTD pay a dividend?
IRM ENERGY LTD currently shows a dividend yield of about 0.58% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of IRM ENERGY LTD (IRMENERGY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IRM ENERGY LTD it is ₹233.28 per share (as of Sep 27, 2026), against a price of ₹257.70. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is IRM ENERGY LTD stock overvalued or undervalued in 2026?
As of Sep 27, 2026, IRMENERGY trades above its calculated fair value: price ₹257.70, fair value ₹233.28, a gap of about −9% (fairly valued). 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 IRMENERGY?
No. The price is what the market pays today (₹257.70); the fair value is what the company's own numbers justify (₹233.28). For IRM ENERGY LTD the two are ₹24.42 per share apart. That gap is exactly why we show both numbers side by side.
How much is IRM ENERGY LTD worth?
The market values IRM ENERGY LTD at about ₹10.6B (market capitalisation, as of Sep 27, 2026). Per share that is ₹257.70; our models calculate a fair value of ₹233.28 per share.
What do the bullish and bearish scenarios say about IRMENERGY?
Our models span a range for IRM ENERGY LTD: cautious scenario ₹174.96, base ₹233.28, optimistic ₹291.60 per share (as of Sep 27, 2026, price ₹257.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IRMENERGY?
IRM ENERGY LTD trades at a price-to-earnings ratio of 19.9 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹233.28 is built from several models across several years. Other multiples: P/B 1.1, P/S 1.0, EV/EBITDA 7.5.
How solid is the balance sheet of IRM ENERGY LTD (IRMENERGY)?
Balance-sheet figures for IRM ENERGY LTD (as of Sep 27, 2026): return on equity 5.5%, debt of 0.03 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is IRMENERGY from its 52-week high?
IRM ENERGY LTD trades at ₹257.70, about 30% below its 52-week high of ₹368.55 and 46% above the low of ₹176.06 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹233.28 is for.
Which stocks are comparable to IRM ENERGY LTD?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, Uniper SE, NiSource Inc, 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 IRM ENERGY LTD stock attractive at the current price?
The data as of Sep 27, 2026: price ₹257.70, calculated fair value ₹233.28 (−9%), Quality Score 48/100, from 16 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 IRMENERGY calculated?
We run IRM ENERGY LTD through 16 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 ₹233.28, 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 14.7 % above its aggregate fair value. IRM ENERGY LTD itself currently trades above fair value. 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 is the share price of IRM ENERGY LTD (IRMENERGY)?
The closing price on Oct 1, 2026 was ₹257.70. Our model-based fair value is ₹233.28, about −9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IRM ENERGY LTD right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of IRM ENERGY LTD
How large is the market capitalisation of IRM ENERGY LTD (IRMENERGY)?
The market capitalisation of IRM ENERGY LTD is ₹10.6B (≈ $110M). 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 IRM ENERGY LTD (IRMENERGY)?
The price-to-sales ratio of IRM ENERGY LTD is 0.99 (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 IRM ENERGY LTD (IRMENERGY)?
Earnings per share at IRM ENERGY LTD are ₹12.97 (price ÷ EPS = P/E 19.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of IRM ENERGY LTD (IRMENERGY)?
The dividend yield of IRM ENERGY LTD is 0.6% (payout 11.6%). 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 IRM ENERGY LTD (IRMENERGY)?
The net margin of IRM ENERGY LTD is 5.0% (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 IRM ENERGY LTD (IRMENERGY)?
The return on equity (ROE) of IRM ENERGY LTD is 5.5% (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 IRM ENERGY LTD (IRMENERGY)?
On an EBIT basis the return on assets of IRM ENERGY LTD is 14.9% (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 IRM ENERGY LTD (IRMENERGY)?
The operating margin of IRM ENERGY LTD is 6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IRM ENERGY LTD (IRMENERGY)?
Revenue at IRM ENERGY LTD is growing +4.4% versus a year earlier (3y avg +2.9%). 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 IRM ENERGY LTD (IRMENERGY)?
Earnings per share at IRM ENERGY LTD are growing +191% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does IRM ENERGY LTD (IRMENERGY) generate?
The free cash flow of IRM ENERGY LTD is −₹316M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does IRM ENERGY LTD (IRMENERGY) hold?
IRM ENERGY LTD holds more cash than debt, ₹1.7B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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