To
The Members,
Your Directors have pleasure in presenting the Twenty-sixth Annual Report and the
Company's audited financial statements for the Financial Year ended March 31, 2025.
Physical Performance
During the year, the Company recorded sales as under:
Figures in Million Standard Cubic Meters (MMSCM)
Product |
For the Year 31 March 2025 |
For the Year 31 March 2024 |
% Change (YoY) |
Compressed Natural Gas (CNG) |
2432.50 |
2298.27 |
5.84 |
Piped Natural Gas (PNG) |
848.37 |
786.20 |
7.91 |
Total |
3280.87 |
3084.47 |
6.37 |
Average Sales / per day (mmscmd) |
8.99 |
8.43 |
Shri. Vinai Kumar Saxena, Lt. Governor of Delhi, receiving interim dividend cheque of
FY 2024-25 from Mr. Kamal Kishore Chatiwal, Managing Director and
Mr. Mohit Bhatia, Director (Commercial), on behalf of Govt. of NCT of Delhi, which
holds 5% equity stake in IGL
Financial Results
The Company's financial performance for the year ended March 31, 2025 is summarised
below:
(Rs. in Crores) |
Items |
For the Year 31 March 2025 |
For the Year 31 March 2024 |
Net Sales & Other Income |
15,369.07 |
14,363.23 |
Profit before Depreciation & Tax |
2,410.97 |
2,720.91 |
Depreciation |
474.07 |
413.75 |
Profit before tax |
1,936.90 |
2,307.16 |
Provision for tax |
469.31 |
559.08 |
Profit after tax |
1,467.59 |
1,748.08 |
Other comprehensive income |
(0.31) |
(2.90) |
Total comprehensive income |
1,467.28 |
1,745.18 |
Retained Earnings - opening balance |
8,108.24 |
6643.06 |
Add : Profit for the period |
1467.59 |
1748.08 |
Profit available for appropriations |
9575.83 |
8391.14 |
Appropriations: |
|
|
Dividends |
735.00 |
280.00 |
Corporate dividend tax |
140.00 |
- |
Transferred to general reserve |
- |
- |
Other comprehensive income recognised directly in retained earnings |
(0.31) |
(2.90) |
Retained Earnings - closing balance |
8,700.52 |
8,108.24 |
Financial Reviews
During the year, the gross turnover of the Company has increased from Rs. 15,403.13
Crores in FY 2023-24 to Rs. 16,399.70 Crores in FY 2024-25 showing an increase of 6.47%.
The Profit After Tax (PAT) decreased by 16.05% from Rs. 1748.08 Crores in FY 2023-24 to
Rs. 1467.59 Crores in FY 2024-25.
Mr. Kamal Kishore Chatiwal, Managing Director and Mr. Mohit Bhatia, Director
(Commercial) inaugurating Knowledge Park III CNG station of IGL located in Greater Noida,
Uttar Pradesh
The Company has prepared the Consolidated Financial Statements which includes Company's
share in net profit/loss of the Subsidiary and also includes the Company's share of profit
in its Associates combined on an equity method in accordance with Ind AS 28 -
"Investment in Associates and Joint Ventures". The Consolidated PAT during FY
2024-25 is Rs. 1713.01 Crores against Rs. 1983.40 Crores in the previous year.
Dividend
Your Company is pleased to recommend a final dividend of 75% (Rs. 1.5/- per share -
Post Bonus issue). The proposed dividend would absorb Rs. 210 Crores.
Your Company had also declared interim dividend of 275% i.e. (Rs. 5.50/- per share -
Pre Bonus Issue) paid during financial year 2024-25.
The Company has Dividend Distribution Policy in terms of the requirement of SEBI
(Listing Obligations Disclosure Requirements) Regulations, 2015. The Policy is available
on the website of the Company under the web-link: https://www.
iglonline.net/detailPage/policies
Performance Highlights
Compressed Natural Gas Business
During the year, your Company augmented CNG infrastructure in its Geographical Areas.
The Company achieved a new milestone by setting up 954th CNG station in FY 2024-25. In FY
2024-25, 72 new CNG stations were commissioned. CNG capacity enhancement/ upgradation was
done at 08 numbers CNG stations and 15 stations were converted from Daughter Booster to
Online in FY 2024-25. With these achievements, the Company has achieved total compression
capacity of 109.44 lacs kgs per day and is catering to around 21 Lacs vehicles.
Your Company provides prepaid card facility for its CNG customers in order to promote
digital payments. Till now more than 195000 prepaid cards are under circulation catering
to approx. 2 lacs vehicles. In line with Digital India, Company has done forecourt payment
automation at its CNG stations which will increase the customer satisfaction and
transparency in CNG billing. Company has taken more initiatives in Digital Payments at CNG
stations for the benefit of customers, wherein UPI payment can be made at CNG stations
through
wallet payments mode. The Company has also tied up with Bhim UPI for enabling UPI
payments collection from all modes of payment. The combined effort towards digital payment
collection has helped in a growth of 12% in digital payment collection this year vis-a-vis
last year.
Your Company has conducted joint promotion activities with Maruti Suzuki India Limited,
Tata Motors, Bajaj, Mahindra and Hyundai at the CNG stations. Due to constant interactions
with the car manufacturers, they have launched company fitted CNG variants, which are
becoming popular among the customers and thus boosting the sales of CNG.
Consistent follow-ups with State Transport Units (STU's) have yielded positive results,
with UPSRTC & UTC added 100 new CNG buses in FY 2024-25.
Piped Natural Gas Business
PNG - Domestic Connections
PNG continued to be focus area of the Company during FY 202425. The Company provided
more than 3.70 lacs new connections during the year 2024-25. In order to create the PNG
awareness further amongst target customers, a successful campaign was run during the year.
A significant growth of 27.5 MMSCM i.e. around 12% in PNG domestic sale have been achieved
in FY 2024-25, resulting in total sale of 255.03 MMSCM in FY 202425 as against total sale
of 227.48 MMSCM in FY 2023-24.
Your Company increased its steel pipeline network from 2054 kms in FY 2023-24 to 2347
kms in FY 2024-25 and its MDPE network from 23,565 kms in FY 2023-24 to 27,399 in FY
2024-25.
Your Company has truly embraced innovation to drive PNG adoption, deploying a
comprehensive strategy that spans low- cost promotional campaigns and e-rickshaw
promotions for urban villages, engaging women's meets, utilizing modern channels like QR
codes on promotional boards in residential
Mr. Kamal Kishore Chatiwal, Managing Director, and Mr. Mohit Bhatia, Director
(Commercial), at the commissioning 10 TPD Compressed Biogas (CBG) plant at Village
Balwanti, Kaithal district in Haryana
societies, bulk messaging and WhatsApp group advertisements to reach potential
customers. To further encourage conversion, your Company also promotes easy registration
via its website and call-centres, and critically, offers customer-centric financial
schemes such as the Fixed Daily Charges (FDC) Scheme, where customers pay a nominal daily
charge instead of an upfront installation security deposit, and the Equated Monthly
Instalment (EMI) Scheme, which allows customers to pay the refundable security deposit in
convenient bi-monthly instalments. These initiatives collectively demonstrate IGL's
commitment to making PNG accessible and appealing across diverse customer segments.
In new GAs like Ajmer, Pali, Karnal, Kaithal, Muzaffarnagar, Meerut, Kanpur, Fatehpur,
etc. an overall growth of approx. 45% in new billable customers have been registered so
far as on 31.03.2025. Spot billing has been fully implemented in Muzaffarnagar GA,
enabling 100% accurate retail bill generation in real time with immediate hand-to-hand
delivery leading to a notable improvement in reading output, rising from 60% to 80%.
Keeping in pace with digitalization and to use the social media platforms effectively,
your Company is promoting self-billing option through conveniently designed short videos.
These short videos are sent along with the PNG bills sent on SMS/ WhatsApp to educate
customers on self- billing, empowering customers to generate accurate bills at their
convenience.
Your Company has also started the digital transformation by launching a WhatsApp
Chatbot, providing 24/7 instant customer interaction, service request handling, bill
delivery, and payment collection, all through the same platform for added convenience.
Your Company yet again surpassed the milestone of 1.35 million electronic bill delivery
subscribers and 2.5 lakhs WhatsApp subscribers demonstrating the commitment to embracing
modern platforms. With consistent and firm efforts an average of 88% to 90% monthly
actual/retail meter reading collection have been achieved during FY 2024-
25 with 100% billing of all moved-in PNG-Domestic customers. The remarkable 97%
adoption rate for online payments clearly demonstrates the convenience and ease of IGL's
digital payment options. This high engagement reflects a strong customer preference for
seamless, online transactions, underscoring the success of the company's efforts in
promoting and facilitating digital payments for its services in Delhi. Also, your Company
has expanded and strengthened cash collection infrastructure in rural areas by partnering
with Common Service Centres (CSCs), significantly improving accessibility and convenience
for customers in remote locations. IGL's commitment to operational excellence and customer
satisfaction is evident in its impressive service metrics. Beyond the 97% online payment
adoption rate, the Company also achieved a 96% success rate in hardcopy bill delivery for
approximately 2.5 lakh customers. These accomplishments collectively underscore IGL's
dedication to leveraging technology and customer-centric solutions, ensuring an
exceptional and seamless experience for its valued customers.
The Company had a total of more than 30.7 Lakhs connections in Delhi & other
geographical areas as on March 31, 2025.
PNG - Commercial & Industrial
During the year, your Company continued its thrust on the Commercial & Industrial
segment which is one of the potential growth areas in the upcoming years. In Industrial
Segment, your Company achieved sales volume growth of around 10% i.e. from 294.10 MMSCM in
FY 2023-24 to 322.53 MMSCM in FY 2024-25 and in Commercial segment, your Company achieved
a growth of around 8% in sales volume i.e. from 82.20 MMSCM in FY 2023-24 to 88.43 MMSCM
in FY 2024-25. In terms of number of customers, the industrial customer base increased
from 4693 in March 2024 to 5265 in March 2025 and commercial customer base increased from
5904 in March 2024 to 6876 in March 2025.
In Delhi, Delhi Pollution Control Committee (DPCC) has banned all other industrial
fuels except PNG and has advised all industrial customers (wherever PNG is available) to
switchover to PNG. The Commission for Air Quality Management (CAQM) has also directed
switching over of DG sets to PNG and Dual fuel (PNG and Diesel) mode in Delhi and NCR.
Your Company has efficiently co-ordinated to implement the mandate given by DPCC and the
CAQM by facilitating customers for smooth switchover to PNG supply. In this regard, your
Company has been able to convert all polluting industries located in NCT of Delhi to PNG
supply. In order to curb down air-pollution levels and to increase natural gas volumes,
your Company has targeted power generation, manufacturing etc. wherein PNG is replacing
usage of polluting fuels. IGL's PNG network is widely available among various Industrial
& Commercial clusters of Delhi and NCR towns of Ghaziabad, Gautam Budh Nagar, Hapur,
Muzzaffarnagar, Gurugram, Rewari, Karnal. Your Company is working with a focused approach
to further expand/ strengthen pipeline network by providing last mile connectivity to the
Industrial & Commercial establishments
in existing areas where pipeline grid is available and expand pipeline network to cater
to other industrial areas.
In Industrial & Commercial segment 1726 new registrations were completed during the
FY 2024-25 and pipeline laying was started in new areas like Hapur, YEIDA in Uttar
Pradesh, Chandni Chowk & Paharganj in Delhi. Your Company is also expanding its
network to new Geographical Areas (GAs) like Muzzaffarnagar, Meerut & Shamli, Kanpur
(other than area already authorized), Fatehpur & Hamirpur, Ajmer, Rajsamand & Pali
and Banda & Chitrakoot to cater the demand of Industrial & Commercial segment.
Natural gas is a vital component of modern industry and commerce, offering a
clean-burning, efficient, and reliable source of energy. Industrial and commercial
connections to natural gas networks enable businesses to harness this valuable resource,
driving growth, productivity, and sustainability. Your Company is also working in a
collaborative and participatory approach with UPSIDA, NEA, Udyog Bandhu, YEIDA so as to
work out an action plan to convert all industrial and commercial units to PNG (wherever
IGL's PNG network is available). To further expand its footprint, your Company has been
able to execute Gas Sale Agreements (GSA) with Industrial & Commercial Customers in
Muzzaffarnagar, Jewar industrial area, Hapur, Rewari, Kanpur, Pali & Ajmer
Geographical Areas (GAs) and also started supplying PNG which would facilitate increase in
consumption of Natural Gas (NG) volumes.
Mr. Kamal Kishore Chatiwal, Managing Director and Mr. Mohit Bhatia, Director
(Commercial), inaugurating the Spot Billing Services for domestic PNG customers at a house
in Muzaffarnagar district in Uttar Pradesh
Associate Companies
Central U. P. Gas Limited (CUGL)
CUGL is engaged in City Gas Distribution in the cities of Kanpur, Bareilly, Jhansi and
Unnao in Uttar Pradesh. Your Company holds 50% of the paid-up equity share capital of
CUGL.
CUGL achieved a gross turnover of Rs. 708.46 Crores and Profit After Tax of Rs. 70.03
Crores for the financial year ended March 31, 2025.
Maharashtra Natural Gas Limited (MNGL)
MNGL is in City Gas Distribution business in Pune, Pimpri, Chinchwad, Chakan, Talegaon
and Hinjewadi, Nasik GA (Nasik, Dhule & part of Valsad), Sindhudurg GA in the state of
Maharashtra and Ramanagara GA in the state of Karnataka. Your Company holds 50% of paid-up
equity share capital of MNGL.
MNGL achieved a gross turnover of Rs. 3,603.70 Crores and Profit After Tax of Rs.
652.53 Crores for the financial year ended March 31, 2025.
The statement containing the salient features of the financial statements of Company's
Associates and Subsidiary pursuant to the first proviso to sub-section (3) of Section 129,
is appended as Annexure 1 to this Report.
Future Outlook
In line with its mission and vision, your Company is actively pursuing strategic
initiatives to strengthen its position in an increasingly dynamic and competitive
environment. The growth strategy includes both organic and inorganic approaches, with a
focus on enhancing the core City Gas Distribution (CGD) business while also diversifying
into new areas beyond the core business.
Renewable Space
Your Company is exploring usage of Renewable Energy (RE) in place of conventional grid
power, which will be a step towards carbon emission reduction and net zero. Your Company
is in process of short-term procurement of RE power for two (02) nos. of identified CNG
stations in Delhi under Green Energy Open Access of Delhi Electricity Regulatory
Commission (DERC). Upgradation of electrical infrastructure for this pilot project is
under discussions with concerned electricity DISCOM.
Your Company has entered into a Memorandum of Understanding with the State Government
of Rajasthan for setting up a greenfield Solar power plant of 500 MWp capacity through a
joint venture (JV) with Rajasthan Vidyut Utpadan Nigam Limited (RVUNL) with an estimated
equity investment of Rs. 382 Crores. For the execution of definitive agreement with RVUNL,
terms and conditions precedent for the formation of JV and proposed investment are under
discussion for finalization.
Your Company is also in the process of setting up Agro-solar plant of ~20 MW capacity
under Group Net Metering scheme with two different DISCOMs for meeting its captive power
requirement in Delhi.
Your Company has plans to install Solar panels at the canopy of selected CNG Stations.
An in-principle approval from PESO has been received in this regard & implementation
of this pilot project is in progress.
Your Company has a target of achieving a total of 2 GWp capacity of Renewable Energy in
the near future.
EV Infrastructure & EV landscape
As part of its diversification efforts, your Company is developing Electric Vehicle
(EV) charging infrastructure, including installations at IGL CNG stations. Your Company
aims to commission at least 50 fixed EV chargers in the NCT of Delhi, out of which 33 EV
chargers have already been commissioned.
Additionally, your Company has set up 8 standalone EV charging stations equipped with a
total of 10 chargers at sites allotted by land-owning agencies. Six more locations are
under construction and will become operational shortly.
Your Company is also exploring investments across the EV value chain, including EV
component manufacturing, battery recycling etc.
LNG/LCNG
Currently, one LNG/LCNG station is operational in Ajmer. Two additional stations, one
each in Rewari and Greater Noida along the Golden Quadrilateral highway are under
construction.
The first LNG facility for Container Corporation of India (CONCOR) at it's terminal in
Dadri is in advanced stages of development and will be commissioned shortly, under an MoU
signed by your Company with CONCOR to set up LNG infrastructure at various terminals
across India.
Compressed Biogas (CBG)
Your Company is actively contributing to the SATAT (Sustainable Alternative Towards
Affordable Transportation) and CBG-CGD Synchronization initiatives by the Ministry of
Petroleum and Natural Gas. At present, your Company is off taking CBG from six plants,
including direct pipeline injection from two of them.
Shri Sandeep Kumar Gupta, CMD, GAIL(India) Ltd. and Shri Krishnakumar Gopalan, then
CMD, BPCL, inaugurating the IGL Pavilion at India Energy Week 2025 in the presence of Mr.
Kamal Kishore Chatiwal, Managing Director, and Mr. Mohit Bhatia, Director (Commercial) and
senior IGL officials
Allied equipment manufacturing
Under a MoU with Bharat Heavy Electricals Limited (BHEL), a joint working group is
developing plans for a manufacturing facility for Type IV lightweight cylinders for CNG
and hydrogen applications. The group is currently finalizing the technology and financial
model.
Joint Venture
The meter manufacturing facility under the Joint Venture Company between IGL and
Genesis, named IGL Genesis Technologies Limited, is nearing completion. The facility is
located at an industrial shed in Sector 145, Noida, taken on a long-term lease.
Commissioning of the plant is underway and commercial production of gas meters is expected
to commence by September, 2025.
Acquisition and Investment in other companies
We continue to explore potential acquisitions of complementary CGD companies and assess
strategic investment opportunities as they emerge in the market.
Information Technology
Your Company has been witnessing sustainable and all round growth in terms of business
expansion across various geographical areas which is supported by a robust, advanced and
latest technological landscape composed of multiple
Additionally, a 100 TPD Municipal Solid Waste (MSW)-based CBG plant is under
construction at Ghoga Dairy, Narela, New Delhi, as part of your Company's plan to invest
in 10 CBG plants based on various feed stocks. customer and business applications. ERP
& IT department as business enablers works jointly and closely with business leaders
to identify and adopt right technology and adopt innovations to support and realize the
digital vision of IGL and emerge as a technology leader in the CGD domain.
Your Company has always considered customer centricity as the focal point of
organization's vision which has been confidently relying on the technology platforms
driving the application landscape broadly comprising of SAP ERP and other portal
applications. With an objective of revolutionizing the customer interaction program,
WhatsApp chatbot platform as one of the most popular channel of engaging with customers
has been rolled out, fully endowed with latest menu driven service options and leveraging
latest AI features. The same chatbot shall also be made available for other modes of
customer engagement viz. Website and IGL Connect app.
Your Company has already processed and finalized the tender for the implementation of
cloud based Advanced CRM solution which would significantly uplift the customer
interaction process through rendering an omni-channel platform for all the customer
services. Your Company has leveraged enterprise cloud services of Microsoft Azure as
hyperscaler for hosting our customer mobile app, IGL Connect, Meter reading portal and
Safety Work Permit app for enhanced availability, reliability and performance. The IGL
Connect App has been successful in living up to the expectations of the customers and has
now crossed more than 1 million customer registrations. Your company has optimized the
process of commercial customer's registration process through automatic system generated
proposal. On the PNG front, there has been improvisation and enhancement of ownership
transfer process through adopting automation of processes.
Your Company has always emphasized on the concept of continuous improvement and
optimization in internal processes which included completion of major development in HR
TA/ DA processes wherein earlier mobile enablement of creation and approval of leave
request along with OTP based alternate authentication was introduced. Further, your
Company has also promoted efficient storage and retrieval of documents for better
traceability and security of confidential official documents for which pilot project of
Document Management System (DMS) leveraging existing OpenText environment was completed
utilizing in-house competency and resources. The project shall soon be rolled out across
the organization. Your
company has also developed a portal for the automation of CNG station allocation
process which would not only help streamlining but also bring in much needed ease,
convenience along with visibility and transparency in the existing process. Existing CNG
O&M application was integrated with SAP ERP for efficient complaint handling,
scheduling maintenance of equipment, tracking status of inventory along with purchase
order delivery status.
Your Company has been continuously focussing on keeping pace with the fast changing
global technologies to combat the prevalent cyber threats across the globe. Multiple
initiatives have been taken to enhance the cyber security posture of the organization to
complement earlier initiatives which includes annual security audits, cyber security
trainings and simulation etc. Your Company has also recently on-boarded consultants for
developing strategy for data protection in line with Digital Personal Data Protection Act,
2023 along with data discovery and classification.
Human Resources
Your Company realizes that the challenges of the future can be best met with competent
and motivated human resources.
Your Company is taking various HR initiatives to add value to its pool of human talent
and integration of individual goals with that of Company. The Company reviews from time to
time HR Policies/ benefits of its employees to make them more competitive and aligned with
best industry practices. Employee wellness is being given highest priority, accordingly,
Mediclaim insurance coverage amount was increased for each employee.
Learning and Development of employees forms an integral part of the Company's Policy
towards accomplishing organizational goal. The continual imparting of training, both
technical and nontechnical, is necessary for the growth of employees, personally as well
as professionally. During the year, our employees were provided with the best of technical
trainings like Burckhardt Compressor Training, Gas Engine Training, Coriolis Mass Flow
Meters & Diagnosis etc. Outbound team building exercise was undertaken during the
financial year. Various Management Development Programs at premier IIMs were attended by
Senior executives. Many impactful IT, Behavioral and soft skills trainings were also
imparted during the financial year.
IGL being the leading organisation in the CGD sector has always taken initiatives for
overall development of its employees and the community. In the Financial Year 2024-25,
several key initiatives over the past year, focusing on enhancing employee morale,
well-being, and a sense of professional pride. These initiatives have contributed
significantly to strengthening our values of empowerment, engagement, and inclusivity.
During the year, your Company organized various sports events, viz. cricket, badminton,
table tennis, carom, chess etc. Your Company also hosted the prestigious PSPB Squash
Tournament at Jaipur, facilitated employees participation in multiple PSPB tournaments
across disciplines throughout the year, encouraging interaction with national-level peers
in the Oil & Gas sector, promoting physical fitness and team unity.
During the year, your Company introduced new uniforms for field staff, instilling a
strong sense of belonging for the critical role played by our frontline workforce,
launched the bimonthly HR Connect Magazine - a dynamic platform connecting all the
employees, proudly celebrated IGL Foundation Day, an event that brought together employees
and their families to affirm the sense of oneness among them.
professional sphere. The comprehensive Induction Trainings has also been imparted to
these new entry-level professionals. Your Company has maintained harmonious, cordial and
healthy relations among its employees.
Your Company recognizes the contribution of its employees in its growth.
Health Safety and Environment (HSE)
Your Company has achieved significant milestones in Health, Safety, and Environment
(HSE) over the past year, demonstrating a profound commitment to cultivating a robust
safety culture and ensuring operational excellence.
To embed safety as a core organizational value, your company has instituted a dedicated
monthly Safety Day, observed on the 11th of each month across all Geographical Areas (GAs)
including Corporate Office of IGL. The monthly Safety Day serves as a crucial platform
where each GA and Location incharges actively engage employees by meticulously reviewing
their respective area's safety performance, reinforce the critical importance of safety
through ongoing awareness initiatives, ensure strict compliance with established safety
standards, and proactively recommend further safety enhancements.
Furthermore, your Company conducted a comprehensive Behaviour-Based Safety (BBS)
training program for all employees, including senior management, to enhance the overall
safety culture within the organization. To empower employees with life-saving skills,
first-aid training programs were conducted through St. John Ambulance Brigade (Indian Red
Cross Society). For enhancement and upskill of competencies, employees have undergone
various training programs organised by National Safety Council and Hydrocarbon Sector
Skill Council.
During the year, Your Company inducted various young talented professionals from
prestigious Indian Institute of Technology, Delhi at GET level and reputed Govt.
Polytechnic Colleges at Junior Engineer level to infuse knowledge and talent in the
Mr Kamal Kishore Chatiwal, Managing Director and Mr. Mohit Bhatia, Director
(Commercial) during signing of agreement with Mr. Sanjay Kumar Rakesh, Managing Director
& CEO, CSC e-Governance Services Ltd. to facilitate easy bill payment facility across
all operational geographical areas of IGL.
The safety of our frontline contractual workers remains paramount. Consequently, all
contractual workforce has to undergo Safety & Technical Competency training prior to
deployment at sites. While Standard Operating Procedures (SOPs) are rigorously adhered to
for all routine tasks, all nonroutine and critical activities are meticulously monitored
and executed through an app-based Safety Work Permit system.
Your Company's commitment to safety is underscored by its rigorous preparedness
protocols. To assess the efficacy of its Emergency Response and Disaster Management Plan
(ERDMP), a total of 433 mock drills were conducted throughout FY 2024-25. These included
participation in 5 off-site mock drills organized in coordination with district
authorities, showcasing robust collaboration with external agencies.
Your Company actively promotes natural gas safety awareness. Over 400 safety camps were
conducted directly at customer locations for PNG consumers and at CNG stations for CNG
customers, reinforcing consumer safety as a fundamental value. Beyond direct engagement,
safety messages are disseminated to the broader community via FM radio and across various
digital and social media platforms.
To further enhance awareness among CNG Transport Associations and CNG Retro Fitment
Centres, your company conducted dedicated Safety Awareness sessions. These sessions
focused on the CNG Cylinder hydrostatic testing procedure and its associated benefits for
enhancing safety at our CNG stations. Similarly, to ensure the integrity of the gas
pipeline network, various workshops on the "Dial Before Dig" safety campaign
were conducted with diverse agencies, including district authorities. A specialized safety
awareness session was also held for officials of the State Fire Service to apprise them of
safety aspects pertinent to the city gas distribution business.
Your Company's unwavering dedication to Health, Safety, and Environment (HSE) has been
recognized as we were honoured to receive the prestigious Transform HSE Leadership &
Excellence Award at the Transform HSE Conference 2025 in Yashobhoomi, Delhi. This accolade
firmly solidifies your Company's commitment to fostering a safe and healthy work
environment.
Your Company's dedication to continuous improvement is further evidenced by its
comprehensive ISO certifications: ISO 45001:2018 (Occupational Health & Safety), ISO
9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO
50001:2018 (Energy Management).
Shri Hardeep Singh Puri, Hon'ble Union Minister of Petroleum & Natural Gas visiting
the IGL stall within India Pavilion at GASTECH 2024 in Houston (USA)
These certifications collectively demonstrate your company's steadfast commitment to
safety and ensures operational excellence through world-class safety practices that
consistently far exceeds the legal and statutory requirements.
Corporate Social Responsibility
Your Company remains steadfast in its dedication to Corporate Social Responsibility
(CSR), channelling its efforts towards creating a meaningful and positive impact on
society. For the fiscal year 2024-25, we have strategically expanded our initiatives,
focusing on core pillars: Health & Sanitation, Skill Development & Livelihood
Enhancement (with a special emphasis on Women Empowerment), and Education & Community
Infrastructure Development.
In the realm of Health & Sanitation, our commitment is exemplified by a large-scale
eye care initiative designed to provide free eye check-up's and surgeries to
underprivileged communities. This project aims to conduct health checkup camps across
Muzaffarnagar, Shamli, Meerut in U. P. , and Rewari, Gurugram in Haryana, delivering free
cataract surgeries, spectacles, and eye care medicines. Further enhancing healthcare
access, our "Swasthya Karwan" project deploys a mobile medical unit for
comprehensive healthcare outreach to drivers and marginalized communities. We are also
extending critical support through projects for the treatment of children with heart
disease and "Project Cancer Mukt Dilli," a comprehensive cancer treatment
program for the underprivileged. Additionally, we are improving sanitation and hygiene by
constructing and upgrading school toilets at schools in Rajsamand and Pali Rajasthan.
Skill Development, Livelihood Enhancement, and Women Empowerment continue to be pivotal
to our CSR strategy. We have launched the Advance Sewing Machine Operator (ASMO) program
in Noida, training underprivileged women with a blend of theoretical and practical skills,
further enriched with modules on English, IT, and soft skills. Project IGL SETU (Skilling,
Empowering & Training the Underserved) is actively creating pathways for youth to
become qualified Allied Health Professionals. In an innovative step towards empowering
Mr. Kamal Kishore Chatiwal, Managing Director with Mr. Andrew Brodie, Chief Product
Officer, Honeywell Automation India Ltd during signing of an agreement
in the presence of Shri. Hardeep Singh Puri, Hon'ble Union Minister of Petroleum and
Natural Gas at GASTECH 2024, Houston (USA)
rural women, we are providing Remote Drone Pilot Training and Certification to women in
Delhi, opening new frontiers in technology. Furthering specialized skill development, we
are establishing a Perfume Lab at Hindu College, Delhi, and continuing our Gas Plumbing
& Piping Training at the IGL Gas Plumbing Training Centre, ITI, Arab-Ki-Sarai, New
Delhi.
Our focus on Education & Community Infrastructure Development is demonstrated
through significant interventions. In Pali District, Rajasthan, we are enhancing
infrastructure across five schools, providing water and sports facilities, constructing
toilets, conducting sanitation & cleanliness awareness programs, and undertaking
plantation drives. To support inclusive education, we are providing a "Braille
Embosser" to the All India Confederation of The Blind, facilitating access to
learning materials for visually impaired individuals.
Recognizing the importance of nurturing talent and national pride, your Company is also
supporting the training of 10 athletes in their preparation to participate in Olympics.
These initiatives underscore our profound commitment to societal advancement and our
sustained dedication to CSR, as elaborated in the annual report on CSR activities appended
as Annexure 2 to this report.
Directors Responsibility Statement
Pursuant to the provisions of Section 134 (5) of the Companies Act, 2013, your
Directors hereby confirm that:
I. In the preparation of Annual Accounts for the financial year ended March 31, 2025,
the applicable accounting standards have been followed;
Mr. Kamal Kishore Chatiwal, Managing Director and Mr. Mohit Bhatia, Director
(Commercial) in the presence of other senior officials of IGL, signing the MoU with the
Noida International Airport (NIA) for developing CNG infrastructure around the airport in
Jewar district of Gautam Buddha Nagar, Uttar Pradesh
II. They have selected such accounting policies and applied them consistently except
where otherwise stated in the Notes to Accounts and made judgments and estimates that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the
Company at the end of the financial year and of the profit of the Company for that period;
III. They have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013 for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities;
IV. They have prepared the Annual Accounts for the Financial Year ended March 31, 2025
on a going concern basis;
V. They have laid down internal financial controls to be followed by the Company and
that such internal financial controls are adequate and were operating effectively; and
VI. They had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
Directors
Shri R.K. Jain ceased as Chairman and Director of the Company w.e.f. January 14, 2025.
Shri Sukhmal Kumar Jain, nominee of BPCL, was appointed as a Director and Chairman of the
Company w.e.f. January 14, 2025. He ceased as a Chairman and Director of the Company
w.e.f. May 01, 2025. Shri Raj Kumar Dubey, nominee of BPCL, was appointed as a Director
and Chairman of the Company w.e.f. May 01, 2025.
Shri Sanjay Kumar, nominee of GAIL, was appointed as a Director of the Company w.e.f.
January 14, 2025. Shri Prashant Goyal, was appointed as a Director of the Company w.e.f.
October 01, 2024 and ceased as a Director w.e.f. August 19, 2025. Ms. Niharika Rai was
appointed as an Additional Director of the Company w.e.f. August 19, 2025. Shri Pankaj
Kumar, ceased as a Director of the Company w.e.f. January 14, 2025.
The Board takes this opportunity to place on record its appreciation for valuable
contribution made by Shri R.K. Jain, Shri Sukhmal Kumar Jain, Shri Pankaj Kumar and Shri
Prashant Goyal, during their tenure as the Directors of the Company.
The Company has received declarations from all the Independent Directors of the Company
confirming that they meet the criteria of independence as provided under Section 149(6) of
the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, (hereinafter referred to as the "Listing Regulations").
The details of programmes for familiarization of Independent Directors with the Company
are put up on the website of the Company, i.e., https://www.iglonline.net/uploads/files/
Familiarization-Programmes-for-Independent-Directors.pdf
The Nomination & Remuneration Committee considers various criteria such as
Knowledge/skill required, experience, Minimum educational qualification, age, role in this
Company, gender, other requirements as per Companies Act, 2013 and SEBI Listing
Regulations while recommending the name of the Independent Directors.
The Board of Directors carried out the evaluation of Directors, Committees of Board and
the Board as a whole, based on the laid down criteria of performance evaluation.
The Company has followed the applicable Secretarial Standards issued by the Institute
of Company Secretaries of India.
Business Responsibility and Sustainability Report
Detailed Report on Business Responsibility and Sustainability Report is annexed as part
of the Annual Report.
Mr. Mohit Bhatia, Director (Commercial), during the workshop along with the senior
officials from Ministry of Petroleum and Natural Gas,
organised by IGL under SATAT Scheme in Chandigarh.
In the opinion of the Board of Directors, independent directors have required
integrity, expertise and experience.
Corporate Governance
As per the requirement of the Listing Regulations, a detailed Report on Corporate
Governance and certificate regarding compliance of conditions of Corporate Governance are
annexed as part of the Annual Report.
The Auditors' Certificate on Corporate Governance for FY 2024 - 25 of M/s Agarwal S.
& Associates, Practicing Company Secretaries is self-explanatory and does not call for
any further comments.
Deposits
During the financial year 2024-25, your Company has not accepted any deposit within the
meaning of Sections 73 and 74 of the Companies Act, 2013 read together with the Companies
(Acceptance of Deposits) Rules, 2014.
Increase in Authorised Share Capital
The Authorised Share Capital of the Company was increased from Rs. 220 Crores to Rs.
1000 Crores pursuant to Shareholders approval by way of Postal Ballot held during the FY
2024-25.
Issue of Bonus Shares
In February, 2025, your Company had issued and allotted Bonus Shares to the
shareholders in the ratio of one equity share of Rs. 2 each for every one equity share of
Rs. 2 each of the Company held on record date i.e. January 31, 2025. Accordingly, the Paid
up Equity Share Capital of the Company has increased from Rs. 140 Crores to Rs. 280
Crores.
Particulars of Loans, Guarantees or Investments
During the financial year 2024-25, your Company has granted loans amounting to Rs.
15.29 Crores to IGL Genesis Technologies Limited (Subsidiary Company). Further, your
Company has invested Rs. 15.59 Crores for allotment of 51% shares in IGL Genesis
Technologies Limited (Subsidiary Company) during FY 2024-25.
During the financial year 2024-25, your Company has not given any guarantee.
Mr. Kamal Kishore Chatiwal, Managing Director and Mr. Mohit Bhatia, Director
(Commercial), signing the MoU with the Government of Rajasthan for setting up a 500 MW
Solar plant facility.
Amount which the Company proposes to carry to any Reserves, if any
For the financial year 2024-25, your Company has not transferred any amount to the
general reserve of the Company.
Number of Meetings of the Board and Audit Committee
The details of the number of meetings of the Board and Audit Committee held during the
financial year ended March 31, 2025 and composition of Audit Committee are given in
Corporate Governance Report.
Related Party Transactions
Policy on materiality of Related Party Transactions and on dealing with Related Party
Transactions has been disclosed on the website of the Company at:-
https://www.iglonline.net/ detailPage/policies
Details of transactions with related parties are being disclosed separately in the
Annual Report. As per Regulation 23 of Listing Regulations, prior approval of Shareholders
has been taken for Material Related Party Transactions for the Financial Year 2025-26.
Prevention of Sexual Harassment at Workplace
As per the requirement of The Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act, 2013 and Rules made thereunder, your Company has
constituted Internal Complaints Committee (ICC) During the FY 2024-25, status of
complaints is as under:
1. Number of Sexual Harassment Complaints received - 02
2. Number of Sexual Harassment Complaints disposed off - 02
3. Number of Sexual Harassment Complaints pending beyond 90 days. - NIL
Risk Management and Internal Financial Control Adequacy
Your Company has Risk Management System in place including the Risk Policy &
identification of the Risks which are reviewed periodically. The Company has also Risk
Management Committee as per the requirement of the Listing Regulations.
Your Company has laid down a set of standards, processes and structure for internal
financial control across the organization and ensures that the same are adequate and
operating effectively.
Vigil Mechanism
The Company has a well-defined Vigilance framework which provides a platform to the
employees, directors, vendors, suppliers and other stakeholders of the Company to come
forward and raise their genuine concerns without any fear of retaliation and
victimization. The details of the Whistle Blower Policy are available on the website of
the Company: www.iglonline.net. Besides Whistle Blower Policy, the Company has also
framed Vigil Mechanism Policy. The stakeholders can lodge their complaint(s) to Chief
Ethics & Vigilance Officer of the Company.
Mr. Kamal Kishor Chatiwal, Managing Director, and Mr. Mohit Bhatia, Director
(Commercial), along with senior officials of IGL, convened at Muzaffarnagar GA for a
strategic brainstorming session focused on growth, future opportunities, and shaping the
company's long-term roadmap.
Cost Auditors
Your Company had appointed M/s Ramanath Iyer & Co., New Delhi as Cost Auditors for
the FY 2024-25.
As per Section 148 read with Companies (Audit & Auditors) Rules, 2014 and other
applicable provisions, if any, of the Companies Act, 2013, the Board of Directors of your
Company has re-appointed M/s Ramanath Iyer & Co., Cost Accountants, as the Cost
Auditors of the Company for the FY 2025-26. The remuneration proposed to be paid to the
Cost Auditors is subject to the ratification by the members at the ensuing Annual General
Meeting of the Company.
Your Company is maintaining cost records as specified by the Central Government under
Section 148 of the Companies Act, 2013.
Secretarial Auditors and Secretarial Audit Report
Pursuant to Section 204 of the Companies Act, 2013, your Company had appointed M/s
Agarwal S. & Associates, Practicing Company Secretaries, New Delhi, as its Secretarial
Auditors to conduct the Secretarial Audit of the Company for the FY 2024-25. The Report of
Secretarial Auditor for the FY 2024-25 is appended as Annexure 3 to this report.
Remarks referred to in the Secretarial Auditors' Report for FY 2024-25 of M/s Agarwal
S. & Associates, Practicing Company Secretaries are self-explanatory and do not call
for any further comments.
Disclosures Regarding Remuneration
Disclosures pertaining to remuneration and other details as required under Section
197(12) of the Companies Act, 2013 read with Rule 5(1) and 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 is appended as Annexure
4 to this report.
Extract of Annual Return
The Annual Return of the Company as on March 31, 2025, in Form MGT 7, in accordance
with the Section 92 (3) of the Companies Act, 2013 read with Companies (Management and
Administration) Rules, 2014 is available on the website of the Company.
Statutory Auditors
In exercise of powers conferred by Section 139 of the Companies Act, 2013, the
Comptroller and Auditor General of India (CAG) has to appoint Statutory Auditors of the
Company for the FY 2025-26.
The Notes on financial statements referred to in the Auditors' Report for FY 2024-25 of
M/s PKF Sridhar & Santhanam LLP, Chartered Accountants are self-explanatory and do not
call for any further comments.
Supplementary Audit by CAG
Review and Comments of CAG, on Standalone and Consolidated financial statements for the
FY 2024-25 form part of financial statements of the Company. CAG has commented that the
figure of Other Operating Revenues include an amount of Rs.15.18 Crores on account of
recovery of penalty from customers for delay in payment. As the same is in nature of
finance income to the Company, it should have been presented as other income instead of
including under other operating revenues.
In this regard, the Company has submitted to CAG that the amount collected from the
customers towards Late Payment charges does not include any significant financing
component, and also, the same was related to the operations of business which includes
realization of customers' dues. Accordingly, the same was included under "Other
Operating Revenues". However, based on discussion with CAG, and also reviewing
industry practice in this regard, the Company has agreed to reclassify the same under
"Other Income" from Q1 of FY 2025-
Mr. Kamal Kishore Chatiwal, Managing Director and Mr. Mohit Bhatia, Director
(Commercial) addressing the employees of IGL during National * Safety Week 2025.
26. The same is only reclassification matter, and do not have any impact on the
profitability of the Company.
Conservation of Energy and Technology Absorption, Foreign Exchange Earnings and Outgo
The information in accordance with the provisions of Section 134 (3) (m) of the
Companies Act, 2013 read with Rule (8) of the Companies (Accounts) Rules, 2014 is appended
as Annexure 5 to this report.
Acknowledgements
Your Directors express their gratitude to the Central Government, State Governments of
NCT of Delhi, Uttar Pradesh, Haryana & Rajasthan, Ministry of Petroleum & Natural
Gas, Petroleum and Natural Gas Regulatory Board and Promoter Companies (GAIL & BPCL)
for their continuous guidance & support throughout the year.
The Directors also acknowledge the support of all Statutory & Local Authorities,
Bankers, Media, Station Operators & their employees, contractors, vendors and
suppliers.
The Directors place on record their deep appreciation towards IGL's valued customers
for their continued patronage support and look forward to the continuance of this
relationship in future also.
The Directors wish to express their gratitude to all the shareholders for their
continued trust and support.
The Directors also sincerely acknowledge the contributions made by all the employees of
IGL for their dedicated services to the Company.
For and on behalf of Board of Directors
Sd/- |
Sd/- |
Kamal Kishore Chatiwal |
Mohit Bhatia |
Managing Director |
Director (Commercial) |
Place: New Delhi Date: August 19, 2025
|