Indian Gas Exchange Limited (IGX) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Indian Gas Exchange Limited

Indian Gas Exchange Limited Standalone Balance Sheet (Rs. in Crores)

Particulars	31-03-2025	31-03-2024
Non-current assets
Plant, property and equipment	2.62	3.29
Right of use assets	2.26	3.00
Other intangible assets	1.09	4.42
Intangible assets under development	0.27	-
Other financial assets	19.62	4.39
Deferred tax assets	1.12	-
Other tax assets	0.38	0.31
Other non current assets	0.03	-
Current assets
Investment	203.62	180.91
Trade receivables	2.17	5.91
Cash and cash equivalent	13.21	15.46
Bank balance other than above	34.25	38.60
Other financial assets	15.98	25.61
Other current assets	11.03	12.64
Total assets	307.71	294.57
Equity
Equity share capital	73.93	73.90
Other equity	73.78	42.75
Non-Current liabilities
Lease liabilities	1.92	2.75
Provisions	1.77	1.41
Deferred tax liability	-	0.01
Other non current liabilities	0.85	1.30
Current liabilities
Lease liabilities	0.83	0.59
Trade payables – dues of micro and small enterprises	0.08	0.05
Trade payables – dues of enterprises other than micro and small	102.22	121.71
Other financial assets	48.19	43.17
Provisions	0.11	0.07
Other current liabilities	4.00	6.83
Total equity and liabilities	307.71	294.57

Indian Gas Exchange Limited Standalone Profit & Loss Statement (Rs in Crores)

Particulars	31-03-2025	31-03-2024
Income
Revenue from Operations	48.80	34.85
Other Income	20.28	19.77
Total Income	69.08	54.62
Expenses
Employee benefits expense	10.76	9.85
Finance costs	0.62	0.44
Depreciation & amortization expense	5.16	2.76
Other Expenses	12.07	10.85
Total Expenses	28.62	23.90
Profit/(loss) before tax	40.46	30.72
Current tax	10.65	7.85
Deferred Tax	-1.14	-0.19
Profit/ Loss for the period	30.95	23.05
Other comprehensive income
Items that will be reclassified to P/L
Re measurement of defined benefit liability	0.02	0.08
Income tax relating to above	-0.01	-0.02
Total comprehensive income	30.96	23.11
Earning per share		X
Basic	4.19	3.12
Diluted	4.17	3.11

Indian Gas Exchange Limited Standalone Cash Flow Statement (Rs in Crores)

Particulars	31-03-2025	31-03-2024
Cash Flow from Operating Activities
Net Profit/(loss) Before Tax	40.46	30.72
Adjustment for -:
Depreciation and amortisation expense	5.16	2.76
Interest income from bank deposits	-4.97	-2.96
Interest income from financial assets at amortised costs	-0.03	-0.03
Fair value gain on investment	-7.97	-7.76
Net gain on sale of investment	-6.23	-8.15
Provision for reversal of revenue	0.17	0.11
Interest expense on bank overdraft, lease liability and other	0.62	0.44
Equity settled share based payment	0.07	0.03
Loss of sale/write off of PPE	-	0.01
Interest income on income tax	-0.03	-0.12
Interest income on investment	-1.01	-0.74
Adjustment for change in working capital
Decrease/(increase) in trade receivables	3.56	-1.63
Decrease in other financial assets and other assets	1.51	1.27
Decrease in trade payables, other financial liabilities, provisions and other liabilities	-17.29	-196.41
Cashflow generated from operations	14.01	-182.48
Direct taxes paid	-10.72	-7.33
Net Cash from/(used in) Operating Activities	3.29	-189.82
Cash Flow from Investing Activities
(purchase)/sale of fixed assets	-0.70	-2.16
Proceeds from sale of PPE	0.01	0.04
Investment in bank deposits	3.83	-28.54
Inflow from sale of investment	-9.00	217.99
Interest income from investment	1.51	0.24
Net Cash from / (used in) Investing Activities	-4.37	187.57
Cash Flow from Financing Activities
Principal repayment of lease liabilities	-0.59	-0.61
Interest paid on lease liability	-0.30	-0.36
Interest paid on overdraft and others	-0.32	-0.08
Proceeds from issue of equity shares	0.04	0.03
Net Cash from/(used in) Financing Activities	-1.17	-1.03
Net Increase/decrease in Cash & cash equivalents	-2.25	-3.27
Cash and cash equivalents at the beginning of the year	15.46	18.74
Cash and cash equivalents at the end of the year	13.22	15.46

Summary of the Cash Flow Statement for the years 2025 and 2024:

Operating Cash Flow Analysis

The company generated a positive operating cash flow of ₹3.29 crores in FY 2025, a significant improvement from ₹(189.82) crores in FY 2024. This indicates a strong recovery in core operations and better cash-generating efficiency compared to the previous year.

The improvement is mainly due to higher net profit before tax (₹40.46 crores vs ₹30.72 crores) and relatively stable non-cash adjustments like depreciation and interest. However, working capital changes still show pressure, especially the decrease in trade payables and other liabilities, which reduced cash flow. Overall, operating performance has improved, but consistency in working capital management is still needed.

Investing Cash Flow Analysis

The company reported a net cash outflow of ₹4.37 crores in FY 2025, compared to a large inflow of ₹187.57 crores in FY 2024. This reversal is mainly because FY 2024 had significant proceeds from sale of investments, which did not repeat at the same scale in FY 2025.

In FY 2025, the company continued to invest cautiously, as seen in purchase of fixed assets (₹0.70 crores) and movement in bank deposits. This suggests a more stable and less one-time-driven investing activity. Overall, the investing cash flow reflects a shift from liquidity-driven inflows in FY 2024 to more normal operations in FY 2025.

Financing Cash Flow Analysis

The financing activities show a net cash outflow of ₹1.17 crores in FY 2025, slightly higher than the ₹1.03 crores outflow in FY 2024. The outflow is mainly due to repayment of lease liabilities and interest payments, indicating limited reliance on external financing.

The company raised a very small amount through equity issuance (₹0.04 crores), which is negligible. This suggests that the company is not heavily dependent on external funding and is managing its obligations primarily through internal resources. The financing structure appears stable and conservative.

Overall Cash Position

The company’s cash and cash equivalents decreased slightly from ₹15.46 crores to ₹13.22 crores in FY 2025. The decline is marginal compared to the previous year’s reduction, indicating a relatively stable cash position.

The overall cash flow shows that while investing and financing activities are moderately negative, the improvement in operating cash flow has helped stabilize the company’s liquidity. However, reliance on investment-related inflows in FY 2024 suggests some volatility in cash generation.

Financial ratios of Indian Gas Exchange Limited.

Particulars	31-03-2025	31-03-2024
Current ratio	1.80	1.62
Return on equity	23.41%	21.94%
Trade payables turnover ratio	5.39	5.41
Net capital turnover ratio	0.39	0.33
Net profit ratio	63.41%	66.14%
Return on capital employed	28.07%	26.71%
Return on investment	7.90%	7.83%

Summary of the Financial Ratios for the years 2025 and 2024:

Current ratio

The current ratio improved from 1.62 to 1.80, indicating better liquidity and improved ability to meet short-term obligations. The company shows a healthy financial position.

Return on equity

ROE increased from 21.94% to 23.41%, showing higher returns to shareholders and improved efficiency in using equity capital.

Trade payables turnover ratio

The ratio slightly declined from 5.41 to 5.39, indicating a marginal decrease in payment efficiency, but overall it remains stable.

Net capital turnover ratio

It increased from 0.33 to 0.39, showing better utilization of capital to generate revenue and improved operational efficiency.

Net profit ratio

The net profit ratio declined slightly from 66.14% to 63.41%, but remains very high, indicating strong profitability despite a small drop.

Return on capital employed

ROCE increased from 26.71% to 28.07%, showing improved efficiency in generating returns from total capital employed.

Return on investment

ROI slightly increased from 7.83% to 7.90%, indicating stable and consistent investment returns.