New Delhi: Indraprastha Gas Limited (IGL), one of India’s leading city gas distribution companies, announced a strategic joint venture with Waste Treatment Private Ltd (HWT) to develop compressed biogas (CBG) plants and biofuel projects, marking a significant step in its clean energy expansion strategy. The announcement comes alongside IGL’s second-quarter financial results, reflecting steady growth in revenue and profits despite rising input costs.
Joint Venture to Strengthen Renewable Energy Presence
Under the terms of the agreement, IGL and HWT will hold equal 50% stakes in the proposed joint venture. The board of the JV will initially comprise four directors, with two nominees from each partner company. The collaboration aims to boost IGL’s footprint in the renewable energy and clean fuel segment, in line with the company’s strategy to diversify its energy portfolio and support India’s sustainability goals.
The move aligns with the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative, which encourages the establishment of 5,000 CBG plants nationwide. By entering the biogas and biofuel domain, IGL joins a growing cohort of city gas distributors and energy companies working to reduce carbon emissions, curb dependence on imported gas, and promote circular economy solutions through waste-to-energy conversion.
Read also: Indraprastha Gas Limited Reports 9% Rise in Q2 FY26 Sales, PAT Up 5% Despite Rising Gas Costs
Q2 Financial Performance: Revenue and Profit Rise
Alongside the joint venture announcement, IGL reported robust financial results for Q2 FY2025-26.
- Revenue: Increased 2.8% sequentially to Rs 4,022 crore from Rs 3,913 crore in Q1.
- Net Profit: Rose 4.5% QoQ to Rs 372 crore, up from Rs 356 crore in the previous quarter.
- EBITDA: Declined 13.6% to Rs 442 crore from Rs 511.7 crore, as higher input costs weighed on margins, narrowing EBITDA margin to 11% from 13.1%.
On the stock market, IGL shares closed 1.03% lower at Rs 194.01 on the NSE on Friday, reflecting investor caution amid margin pressures.
Driving India’s Clean Energy Goals
The partnership with HWT strengthens IGL’s commitment to India’s clean energy transition, supporting government initiatives like SATAT. Through this venture, IGL aims to not only expand its energy offerings but also contribute to a sustainable energy ecosystem by promoting renewable fuel adoption and environment-friendly energy solutions.
About Indraprastha Gas Limited (IGL)
Indraprastha Gas Limited (IGL), a Public Sector Undertaking, is a leading city gas distribution company in India, delivering natural gas and CNG to households, industrial units, and commercial establishments. With a focus on sustainability and innovation, IGL is expanding its portfolio into renewable energy and biofuels, reinforcing its commitment to cleaner, greener energy solutions across India.
Read also: Indraprastha Gas Limited Wins 4 PNGRB Excellence Awards 2025 for Best City Gas Distribution in Delhi
