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Earnings Call Transcript

IRM Energy Earnings Call Transcript: Key Takeaways

Q2 standalone revenue rose 29%, EBITDA 77% and PAT more than doubled YoY. Management flagged a weaker Q3 from gas allocation cuts and volatile sourcing costs.

Highlights
Revenue growthStandalone revenue +29% YoY; EBITDA fell QoQ from ₹62 Cr.
MarginsQ2 EBITDA margin 14.2%, +388bps YoY; sequentially compressed by gas costs.
Demand visibilityCNG and commercial CNG growing; industrial PNG soft; volumes at record.
Management confidenceMixed: confident on H2 margins, but CEO declined Q3 margin guidance.

Growth

Q2 revenue +29% YoY, volume +12% YoY (61.2 MMSCM). EBITDA +77% YoY but down QoQ from ₹62 Cr in Q1.

Outlook

Q3 margin hit from gas allocation. CFO expects H2 EBITDA margin ~15%. FY27 capex plan ₹250–260 Cr.

Risks

HPHT allocation cuts, spot price volatility, Brent and USD pressure. Q3 explicitly weaker; industrial PNG volumes soft.

Last quarter's promises, checked

Delivered

  • Rev growth ~25% FY27 (min ~20%) → Q2 rev +29% YoY (= BEAT)
  • Volume growth 10–12% FY27 → Q2 vol +12% YoY, 61.2 MMSCM (= BEAT)

Partly delivered

  • TNSTC 'more than 200 buses' near-term → 183 buses converted (= PARTIAL)

Missed

  • Capex ₹250 Cr, 'don't target more than that' → FY27 plan ₹250–260 Cr (= MISS)
  • Q1 EBITDA margin 19% to hold 'at least 1–2 more quarters' → Q2 margin 14.2% (= MISS)
Source

Earnings Call Transcript filed with NSE, NSE: IRMENERGY. Summary written with AI assistance from the document.

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IRM Energy Ltd: key numbers

Share price
₹226.99
Market cap
₹932.0 Cr
Revenue (annual)
₹1,067 Cr
Net profit (annual)
₹53.21 Cr
P/E (TTM)
10.8×Sector 21.3×
Promoter holding
50.74%+0.00% QoQ
FII holding
1.75%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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