#1Indraprastha Gas Limited igl An Overview October 2022#2Background Incorporated in 1998, IGL is a Joint Venture of GAIL and BPCL. Govt. of NCT of Delhi is also holding 5% equity. The company was listed in stock exchange in December 2003. IGL started its operations in NCT of Delhi in 1999 with only 9 CNG stations and 1000 PNG consumers. Today IGL has its operations in NCT of Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Karnal, Kaithal, Kanpur, Muzaffarnagar and Ajmer with 725 CNG stations, 21.70 lacs residential connections and ~8200 industrial / commercial customers. Fueling the largest CNG Bus fleet in the World. igl 2#3Shareholding Pattern As on 30 September 2022 8% 12% 9% 21% 5% % HOLDING 45% Promoters - 45% (GAIL-22.5% & BPCL- 22.5%) □ Government of NCT of Delhi - 5% Foreign Institution Investors - 21% Mutual Funds - 8% Insurance Companies - 12% Public/Others - 9% igl 3#4Management IGL Board is fairly well diversified with ten members (currently one vacant) including two each from GAIL and BPCL, one from Govt. of Delhi and five independent directors. The company is beneficiary of its strong parentage and gets significant support from GAIL and BPCL relating to operations and management. By virtue of the presence of Govt. of Delhi as a minority shareholder, the company gets support for speedy administrative approvals. The company has highly qualified senior management personnel with several years of experience in Oil & Gas sector. igl 4#5Areas of Operation Delhi: National capital of India has huge demand potential: - Where public transport vehicles have to necessarily run on CNG in view of the directions of the Hon. Supreme Court of India. - Has the highest number of private cars compared to any other city of India. - Thickly populated having large number of residential & commercial complexes and hospitals etc. igl Gautam Budh Nagar (Noida & Greater Noida): Most advanced cities of state of Uttar Pradesh having huge potential for CNG, PNG-Residential and commercial volumes. Ghaziabad: Residential cum Industrial town of Uttar Pradesh having huge potential demand for PNG Residential, Commercial and Industrial. PNGRB has recently clarified that the GA of Ghaziabad includes Ghaziabad and Hapur Districts. Rewari, Dharuhera & Bawal: IGL was authorized for Rewari geographical area in the 6th round of bidding by PNGRB. IGL has commissioned twenty five CNG stations in the GA and started sale of PNG to Domestic households. Bawal being an Industrial town of Haryana having huge potential demand for Industrial PNG. Karnal: IGL was authorized for Karnal geographical area in the 8th round of bidding by PNGRB. IGL has commissioned sixteen CNG stations in Karnal GA. CNG & PNG sale has started. 5#6Area of Operation Meerut, Muzaffarnagar & Shamli: IGL has been authorized for Meerut (Except area already authorized), Muzaffarnagar & Shamli geographical area in the 9th round of bidding by PNGRB in which IGL has commissioned twenty CNG stations and started sale of PNG to Domestic households. Gurugram: IGL is also laying infrastructure in Gurugram. The permission has been given for the area between west side of Sohna Road and NH 8 in Gurugram district. IGL has commissioned fifteen CNG stations in the GA. Matter regarding take over of supplies by IGL in Gurugram District is in progress. Kaithal; Kanpur, Fatehpur & Hamirpur; and Ajmer, Pali & Rajsamand: IGL has been authorized for Kaithal; Kanpur (Except area already authorized), Fatehpur & Hamirpur; and Ajmer, Pali & Rajsamand areas in the 10th round of bidding by PNGRB. IGL has commissioned eleven, fourteen and forty six CNG stations in three GAs respectively. PNG Domestic sale has started in Kanpur; Ajmer & Pali. Banda, Chitrakoot & Mahoba: IGL has been authorized for Banda, Chitrakoot & Mahoba in the 11th round of bidding by PNGRB. DFR is in progress. igl 6#7Current Sales Volume Mix (%) CNG 75% Comm. Ind. 13% Sale to other CGD Cos. 6% Residential 6% igl 7#8Sales Volumes Figures in MMSCM FY'18 FY'19 FY'20 FY'21 FY'22 Sep'22 (H1) CNG 1,412 1,602 1,738 1,357 1847 1100 PNG Total Sale 479 553 619 587 704 362 1,891 2,155 2,357 1,944 2551 1462 Daily Average Sale 5.18 5.91 6.44 5.33 6.99 7.99 igl 8#9Sales Volumes 1738 1602 1412 1357 1847 704 619 587 553 479 1100 362 CNG (MMSCM) PNG (MMSCM) FY'18 ■FY'19 ■FY'20 ■FY'21 FY'22 Sep'22 ■FY'18 FY'19 ■FY'20 FY'21 FY'22 Sep'22 2551 2357 2155 1891 1944 7.99 6.99 6.44 5.91 5.18 5.33 1462 Total Sale (MMSCM) Daily Average Sale (MMSCMD) FY'18 FY'19 FY'20 ■FY'21 FY'22 Sep'22 FY'18 FY'19 FY'20 FY'21 FY'22 Sep'22 igl 9#10Volume Trends (FY'17 to FY'22) (All figures in MMSCMD) 7.99 0.50 0.18 6.99 0.81 0.47 6.44 0.14 0.49 0.49 5.91 0.82 0.16 0.50 5.18 0.66 5.33 0.15 0.50 0.37 0.45 0.54 0.38 0.09 0.13 0.33 0.69 0.43 0.30 0.46 4.75 4.39 3.87 3.72 6.01 5.06 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 Sep 22 (H1) CNG Domestic Industrial Commercial Natural Gas ――――――Total igl 10 10#11Gas Sourcing Firm allocation from Govt. of India of domestic gas for the entire consumption of CNG and PNG Domestic segment. Lower prices of domestic gas makes the economics of switching to gas more attractive driving growth in CNG & PNG- Domestic segments which constitute around 81% of the total sales volumes. Have tied up long term contract for RLNG to meet PNG Industrial & Commercial demand. Buying short term gas from the open market (Shell, IOCL, GSPC, BPCL etc.). igl 11#12Current Gas Mix (%) Non-APM 38% Based on data of quarter 2 of financial year 2022-23 Pooled Gas 6% APM 37% RLNG 19% igl 12#13Growth in CNG Financial Year March'18 March'19 March'20 March'21 March'22 Sep'22 igl CNG Stations 446 500 555 612 711 725 (Cumulative Nos.) Sale (Lakh kg) 10,180 11,439 12,324 9,575 13,071 8,026 Sale (Lakh kg/day) 27.89 31.34 33.67 26.23 35.81 43.86 13 113#14Growth in CNG 711 725 612 555 500 446 No. of CNG Stations March'18 March'19 March'20 March'21 March'22 Sep'22 33.67 31.34 27.89 26.23 12324 11439 10180 9575 13071 8026 igl Sales in Lakh kg March'18 March'19 March'20 March'21 March'22 Sep'22 (H1) 35.81 43.86 Sales in Lakh kg/day March'18 March '19 March'20 March'21 March'22 Sep 22 (H1) 14#15CNG Station Network Figures in numbers Station IGL DTC/ OMC DODO Total UPSRTC Online 147 79 341 34 601 Daughter Booster 1 0 70 5 UT 76 Daughter 0 0 47 0 47 LNG 1 0 0 0 1 Total 149 79 458 39 725 igl 15#16CNG Vehicles (Figures in Nos.) 28,791 26,150 26,760 27,284 24,850 22,900 Buses March'18 March'19 March'20 March'21 March'22 Sep'22 1,051,907 971,874 859,170 794,800 757,900 709,900 Cars/Taxi 490,662 476,502 478,372 466,702 534,557 540,018 igl Auto/ LGV/RTV O March'18 March'19 March'20 March'21 March'22 Sep'22 1,620,716 1,533,715 1,376,592 1,299,322 1,259,252 1,199,502 March'18 March'19 March'20 March'21 March'22 Sep'22 March'18 *Re casted Estimated figures based on various sources. Total March'19 ■March'20 March'21 March'22 ■Sep'22 16#17PNG Connections 21.7 20.6 16.85 13.75 11.02 8.92 Domestic (Lakhs) March'18 March'19 March'20 March'21 March'22 Sep'22 8,221 7,720 6,687 5,566 4,337 3,593 Industrial/Commercial (Nos.) March'18 March'19 March'20 March'21 igl March'22 Sep'22 17#18PNG Network (Figures in kilometers) 1,699 1,571 1,265 1,150 1,006 919 18,853 17,240 15,262 13,455 12,023 10,755 igl Steel Pipeline March'18 March'19 March'20 March'21 March'22 Sep'22 MDPE Pipeline O March'18 March'19 March'20 March'21 March'22 Sep'22 20,552 18,811 16,527 14,605 13,029 11,674 Total March'18 March'19 March'20 ■March'21 March'22 Sep'22 18#19Standalone Financial Data (Rs./ Crores) 7,131 6,337 4,994 5,409 8,443 7,427 786 671 * 1,135 1,005 1,316 838 Gross Turnover Total Comprehensive Income FY'18 FY'19 ■FY'20 ■FY'21 ■FY'22 ■Sep'22 FY'18 FY'19 FY'20 FY'21 FY'22 Sep'22 # 19 # 106 # 99 #* 16 # 14 # 84 #* 72 # 12 # 11 # 10 # 59 #50 EPS (Rs./share) FY'18 FY'19 ■FY'20 ■FY'21 FY'22 Sep'22 # Equity shares of Rs.10 each has been split into Five shares of Rs.2 each since Nov'17 * Includes adjustment on account of change in rate of tax. Book Value (Rs./share) FY'18 FY'19 FY'20 FY'21 FY'22 Sep'22 igl 19#20Cumulative Capex (Rs. in Crores) 4,521 3,991 5,259 6,312 7,323 8,777 9,317 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 Sep'22 igl 20 20#21Dividend Dividend Policy provides liberal payout Track record of last five years Year FY 17 % of face value of share 85 FY 18 100 FY 19 120 FY 20 140 FY 21 180 FY 22 275 igl 21 24#22Acquisition of Equity in Other CGDs igl IGL has acquired 50% equity share capital of Central UP Gas Limited (CUGL) at a price of Rs. 23 per equity share aggregating to Rs.68 crores. CUGL is engaged in the CGD in the cities of Kanpur and Bareilly, Unnao & Jhansi in Uttar Pradesh. IGL has acquired 50% equity share capital of Maharashtra Natural Gas Limited (MNGL) at a price of Rs.38 per equity share aggregating to Rs.190 crores. MNGL is engaged in the CGD in the city of Pune and nearby areas. The above has resulted in diversification of geographical areas. 22 22#23Consolidated Results igl The standalone and consolidated financial results for the half year ending September 22 with the Associates i.e. CUGL & MNGL on equity method considering 50% share in profit are as under: Parameter Unit Standalone Consolidated Total Comprehensive Income Rs. in Crores 838 909 EPS Rs./Share 11.96 12.97 23 23#24Future Outlook igl Approximately Rs.1200 Crores of capex is planned for the financial year 2022-23. The Capex covers existing GA of Delhi NCR and other GAs allotted to the company. Approx. 75 to 100 CNG stations are planned to be commissioned during the FY 2022-23. The company is making efforts to increase gas sales volume in the range of 8 MMSCMD to 8.5 MMSCMD during the FY 2022-23 and will endeavour to achieve sales volume of approx. 10 MMSMD by FY 2024-25. Company is also venturing into electric vehicle charging segment and is planning to commission 60 stations during FY 2022-23 for battery swapping mode. 24 24#25Future Outlook igl Company is actively looking for growth avenues and is open for organic/inorganic growth opportunities. The company is also looking for opportunities to diversify in other areas. Presently 5 number of long route CNG buses with Type 4 cylinders are running in a pilot project with a state transport undertaking. Company is making efforts for converting existing buses of state transport undertakings running on interstate route to CNG. Company has also started sales of CNG from mobile refuelling unit (MRU) and will endeavour to increase the number of MRUS in near future for providing gas to CNG customers in various parts of GAs. 25 25#26Credit Strength igl Healthy profitability with strong cash generations from operations. Zero debt company. Comfortable working capital position. Care Ratings Ltd. has reaffirmed highest credit ratings of AAA (Stable) for bank facilities. 26 26#27Risk & Mitigations igl Gas price • CNG & PNG-Residential prices remains competitive vis-à-vis petrol and subsidized LPG in view of allocation of domestic gas. Sourcing of gas • Firm allocation from Govt. of India for domestic gas - buying from GAIL. • Buying Long term TRLNG gas from GAIL/BPCL. 27 27#28DDA Case igl Delhi Development Authority (DDA) has raised a total demand of 155.64 crores during 2013-14 on account of increase in license fees in respect of sites taken by the Company on lease from DDA for setting up CNG stations in Delhi. The increase in license fees was related to the period 1 April 2007 to 31 March 2014. The Company has filed a writ petition on 11 October 2013 before the Hon'ble Delhi High Court against the demand raised by DDA as the revised license fees has been increased manifold and made applicable retrospectively from financial year 2007-08. Further, DDA vide communication dated 29 August 2016 has revised the total demand to #330.73 crores for the period upto 31 March 2016. The matter is pending in the Hon'ble High Court of Delhi and the Company is of the view that such demand is not tenable and accordingly no provision has been made for this demand raised by DDA till 31 March 2016 in the books of accounts. 28 20#29Safe Harbor Statement igl This presentation has been prepared by Indraprastha Gas Limited solely for providing information about the company. The information contained in this presentation is for general information purposes only, without regard to specific objectives, financial situations and needs of any particular person. Company do not accept any liability whatsoever, direct or indirect, that may arise from the use of the information herein. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. 29 29#30Thank You igl