Your Company has completed its successful journey of two decades in which it hasachieved many milestones. Today it is a matter of pride for all of us that the Company isthe largest City Gas Distribution Company in the country catering to 1.1 million CNGvehicles 1.2 million domestic PNG customers and over 4500 Commercial & Industrialcustomers.
The financial year 2018-19 was another year of robust growth both in financial andoperational numbers. During the year gross turnover showed a growth of 26.9% increasingfrom Rs. 4994 Crores to Rs. 6337 Crores in the previous year. Profit after tax also showedan increase of 17.3% from Rs. 671 Crores in FY2018 to Rs. 787 Crores in FY2019. Both grossturnover and PAT of FY2019 have been the highest in the history of the Company. In linewith its performance Board of Directors have recommended dividend of 120% i.e. Rs. 2.4per share the highest dividend so far in a financial year.
On the operational front your Company augmented its infrastructure by adding 54 newCNG stations with total number crossing milestone of 500 with total compression capacityof around 84 Lakhs kg per day. During the year the Company provided a record number of2.1 Lakhs new PNG domestic connections and around 850 new commercial and industrialconnections.
ThescenarioinCGDsectorisfastchanging with the coverage of a large number ofgeographical areas and entry of new players in this sector. PNGRB through its recentlyconducted 10th round of CGD bidding has now cumulatively covered 70% of the country'stotal population and 50% of total geographical area for setting up PNG and CNGdistribution network. Government of India has been providing full allocation of Gas fortransport and PNG -Domestic to meet the growing demand of the CGD sector. The governmenthas set a mission of providing 1 crore PNG domestic connections by 2020. The government isgiving thrust to natural gas to make India as a gas based economy. This changing businessenvironment provides challenges as well as opportunities to your Company. The Company hasbeen reviewing its corporate strategy for sustainable future growth.
The Company has been expanding its area of operations by entering into new geographicalareas. The Company has already started supply of CNG and PNG domestic in earmarked area ofGurugram and Karnal districts. The Company has started building infrastructure ingeographical area of Meerut (except area already authorised) Muzaffarnagar & Shamlidistrict in Uttar Pradesh. The Company has also received authorization from PNGRB fordevelopment of CGD network in geographical areas of (i) Kaithal District (ii) Ajmer Paliand Rajsamand District & (iii) Kanpur (except area already authorized) DistrictFatehpur and Hamirpur Districts. The Company is also looking for inorganic growth byacquiring stakes in other CGD companies.
The Company has taken various new initiatives for its future growth. Recently it hasstarted working in association with Indian Oil Corporation to set up a H-CNG station as apilot project first of its kind in India. The Company has entered into memorandum ofunderstandings with reputed parties for promoting the usage of gas in home appliances inhouseholds conversion of diesel gensets into gas based generators and to provide chargingfacilities to e-vehicles. As a backward integration the Company has a plan to set up agas meter manufacturing unit in India. The Company is also looking to leverage itsexpertise and execution capabilities by providing consultancy services for setting up CGDprojects in India and abroad. Optimisation of overall cost and organisationaltransformation are other areas in which studies are underway. All these initiatives willadd to the growth and business expansion of the Company. The Company has earmarked totalcapex of Rs. 1170 Crores for FY2019-20.
Your Company has strong belief in Customer centric approach. It is striving forexcellence in customer services by making continuous efforts to improve its services. TheCompany has upgraded its customer app IGL connect by adding new features andfurther strengthening its customer relationship management (CRM) module in SAP. It ispromoting digital payment by providing various options to its customers. The Company hasbeen providing facilities such as self-billing spot billing prepaid cards automaticmeter reading and various incentive schemes for acquiring new PNG Customers.
Your Company has always accorded top most priority to Safety related issues. In recentpast the Company participated in the mock drill of disaster management exercise carriedout by government of NCT of Delhi. Regular trainings are imparted to drivers PNGcustomers employees contractual staff and other stakeholders on regular basis. It is amatter of pride that your Company has crossed 161 Million Man Hours accident free till31st March 2019. The Company has won various prestigious safety awards from differentauthorities in recognition of its high safety standards.
The Company gives due importance to its human resource capital who are responsible forthe growth of the Company. The Company keeps reviewing employee related welfare schemesfrom time to time to motivate the employees. The Company gives due importance to trainingand development of employees to upgrade their skills and expertise in various areas.During the year a number of team building skill developments and sports events wereconducted by your Company. The Company recognizes and appreciates the contribution of allits employees in its growth path.
TheCompanyhasbeentakingvariousCSR activities with focus on health educationenvironment and empowerment of women & underprivileged of the society. During FY2019CSR programmes such as IGL Swasth Saarthi Building Bonds through Gender Sensitisationcoaching for engineering entrance examination to underprivileged students Self Defencetraining for school girls education programmes at municipal schools Skill Developmentfor rural women and underprivileged/ unemployed youth etc. were undertaken afterconducting impact assessment study. The Company has won a number of awards for its variousCSR projects/programmes at different forums.
On behalf of the Board of Directors I take this opportunity to thank the
Government of India Petroleum and Natural Gas Regulatory Board and all departments ofthe Central and State governments our valued Customers our promoter companies (GAIL& BPCL) all the authorities and agencies for their unstinted support to your Company.
I along with my colleagues on the Board would also like to thank each and everyemployee of IGL for all the hard work put in by them.
Finally I would like to thank each one of you from IGL's family of Shareowners forthe confidence and trust reposed in us. With your support and blessings I am confidentthat we shall continue to strive to achieve new milestones in the coming years.
|Warm Regards |
|Gajendra Singh |