Indraprastha Gas Moat Analysis: Score & Risks
Indraprastha Gas Ltd.
A first-pass moat teardown of Indraprastha Gas Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow-to-wide read — primary edge in Cost Advantage. Provisional, single-pass evidence.
Indraprastha Gas Ltd. scores 5.79 on MoatSCORE 6.0 — a narrow-to-wide moat in Oil & Gas. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“Replacement of conventional light fittings by LED light fittings had been done at all IGL CNG stations resulting in average energy saving of ~ 65 % per light fittings load.”
“Your Company increased its steel pipeline network from 1,265 kms in FY 2020-21 to 1,571 kms in FY 2021-22 and its MDPE network from 15,262 kms in FY 2020-21 to 17,240 kms in FY 2021-22.”
“Our steel pipeline network now extends over 2,500 kilometers, while our MDP network has reached approximately 29,200 kilometers.”
“Stabilising the prices of administered price mechanism (APM) for PNG/CNG consumers.”
“DDA vide communication dated 29 August 2016 has revised the total demand (excluding interest) to Rs.330.73 crores for the period upto 31 March 2016.”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 6 — at or above 6, consistent with a narrow-to-wide read. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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