Strategic gas sourcing transformation achieves optimal 50-50 split between government-controlled and market-linked pricing, with 65% of RLNG being Henry Hub linked for lower volatility.

“3.51 is APM allocation as of now and 1.38 is new well gas so total you can say that 58% or so in the CNG and transport and domestic segment is through this segment and 42% is through RLNG. And if you look at the overall company-wise, you can say that around 50-50 is there. 51 is through APM, new well gas, and 49 is through other sources.”

— K.K. Chatiwal, Managing Director

Geographic diversification accelerating with newer areas growing at 32% while maintaining 5% growth in mature Delhi market, reshaping IGL's growth profile.

“Delhi GA after excluding DTC has grown by 5%. NCR comprising of Gautam Budh Nagar, Gurugram GA has shown a 13% and other GAs have grown by 32%. We are quite hopeful that with the gas sourcing arrangement in place and the volume growth seen in new GAs, we can plan to achieve sales volume increase of 10% in the year 2025-'26.”

— K.K. Chatiwal, Managing Director

“Proactive regulatory positioning frames CNG as "bridge fuel" aligned with EVs rather than competing fossil fuel, leveraging Supreme Court mandate for potential policy protection.”

“So we have given our submission to the Delhi government that gas was brought in Delhi on the directions of Honorable Supreme Court and the Centre was asked that CNG to replace the polluting fuels. So this is an entirely different category and it should be categorized as a bridge fuel, a transition fuel and either it should be clubbed with EV or it should be a separate segment and not to be clubbed with the other petrol and diesel fuels.”

— K.K. Chatiwal, Managing Director

Communication strategy vulnerability acknowledged by management following pointed investor critique about chronic silence during negative market cycles.

“Periodically, we have seen that IGL has been affected by a negative perception that arises in the minds of some people in the investment community... In each case, sir, the response of IGL has been one of silence. I think, it is the duty of the company's management to set the record straight when such misperceptions are doing the rounds.”

— EA Sundaram, Long-term Investor

“Yes, we have noted that is a very good suggestion and we will try to address that by putting out more information on our website... but our focus has been on mitigating the issues because many a times it is the government that we are dealing with. So we do not want to spell out something in the public domain.”

— K.K. Chatiwal, Managing Director