Financial Performance Summary

Quarterly Performance (Q2FY27 vs Q2FY26):

  • Revenue from Operations: ₹333.91 crore vs ₹259.44 crore, up 28.70% YoY
  • Total Income: ₹368.32 crore vs ₹287.31 crore, up 28.20% YoY
  • EBITDA (Ex Other Income): ₹47.32 crore vs ₹26.70 crore, up 77.23% YoY
  • EBITDA Margin: 14.17% vs 10.29%, expansion of 388 basis points
  • Profit After Tax: ₹25.43 crore vs ₹12.56 crore, up 102.50% YoY
  • PAT Margin: 7.62% vs 4.84%, expansion of 278 basis points

Half-Yearly Performance (H1FY27 vs H1FY26):

  • Revenue from Operations: ₹659.76 crore vs ₹521.94 crore, up 26.41% YoY
  • Total Income: ₹728.35 crore vs ₹581.02 crore, up 25.36% YoY
  • EBITDA (Ex Other Income): ₹109.10 crore vs ₹52.56 crore, up 107.55% YoY
  • EBITDA Margin: 16.54% vs 10.07%, expansion of 646 basis points
  • Profit After Tax: ₹59.23 crore vs ₹26.47 crore, up 123.75% YoY
  • PAT Margin: 8.98% vs 5.07%, expansion of 391 basis points

Note: Revenue figures are net of Excise Duty

Operational Performance Metrics

Sales Volume (mmscm):

Q2FY27 Performance:

  • Total Sales Volume: 61.23 mmscm vs 54.66 mmscm, up 12.02% YoY
  • CNG Volume: 39.73 mmscm vs 31.89 mmscm, up 24.58% YoY
  • PNG Industrial Volume: 18.19 mmscm vs 19.74 mmscm, down 7.85% YoY
  • PNG Commercial Volume: 0.90 mmscm vs 0.60 mmscm, up 50.00% YoY
  • PNG Domestic Volume: 2.41 mmscm vs 2.43 mmscm, down 0.82% YoY

H1FY27 Performance:

  • Total Sales Volume: 120.16 mmscm vs 109.46 mmscm, up 9.78% YoY
  • CNG Volume: 79.06 mmscm vs 64.24 mmscm, up 23.07% YoY
  • PNG Industrial Volume: 34.69 mmscm vs 39.59 mmscm, down 12.38% YoY
  • PNG Commercial Volume: 1.67 mmscm vs 1.04 mmscm, up 60.58% YoY
  • PNG Domestic Volume: 4.74 mmscm vs 4.59 mmscm, up 3.27% YoY

Infrastructure and Customer Network Growth

As of September 30, 2026 (with YoY Growth):

  • CNG Stations: 156 (34% growth)
  • CNG Dispensing Points: 576 (36% growth)
  • Steel and MDPE Pipeline Network: 7,313 inch-km / 3,441 km
  • Domestic PNG Connections: 89,308 (14% growth)
  • Commercial PNG Connections: 657 (48% growth)
  • Industrial PNG Connections: 235 (8% growth)

Management Commentary

Mr. M.K. Sharma commented on the performance:

  • Strong Q2FY27 performance marked by healthy volume growth and significant profitability improvement
  • Quarterly sales volume reached all-time high of 61.23 mmscm
  • Growth driven by 25% YoY growth in CNG volumes and 50% growth in Commercial PNG volumes
  • Revenue grew 29% while EBITDA increased 77%, demonstrating operating leverage from expanding network
  • H1FY27 revenue grew 26% to approximately ₹660 crore, EBITDA more than doubled to ₹109 crore
  • EBITDA margin expanded 648 basis points to 16.54%
  • Performance reflects disciplined gas sourcing, efficient operations, and increasing infrastructure utilization
  • Continued network strengthening in Namakkal and Tiruchirappalli, with deeper penetration in Banaskantha, Fatehgarh Sahib and Diu & Gir Somnath
  • Company maintains net-debt-free financial position with growing customer base
  • Focus on delivering sustainable and profitable growth across mobility, domestic, commercial and industrial segments

Company Overview

IRM Energy Limited is a City Gas Distribution company developing, operating and expanding natural gas distribution networks across four geographical areas covering six districts in Gujarat, Punjab and Tamil Nadu. The company supplies natural gas to CNG, domestic PNG, commercial PNG and industrial PNG customers.