Cadila Pharmaceuticals Backed Energy Stock Jumps 10 per cent After Signing 1,23,21,200 Crore MMBtu Regasified Liquefied Natural Gas Supply Deal with Shell - Details Inside!
With a PE ratio of 23.6, the company has ROCE of 15.4 per cent and ROE of 13.2Â per cent.
IRM Energy Limited's stock price jumped by 10 per cent on Thursday's trade as the company has signed a long-term contract with Shell Energy India Private Limited for the supply of Regasified Liquefied Natural Gas (RLNG). The agreement, spanning five years, entails the purchase of 1,23,21,200 MMBtu, equivalent to approximately 326.84 mmscm at 9,500 k/cal Gross Calorific Value (GCV).
Key Highlights:
- Contract Duration: 5 years
- Total RLNG Quantity: 1,23,21,200 MMBtu (~326.84 mmscm)
- GCV: 9,500 k/cal
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The agreement ensures a stable and cost-effective supply of RLNG for IRM Energy’s Industrial and Commercial (I&C) customers. This move aligns with the company’s goal of enhancing energy security and affordability, ensuring businesses receive consistent and reliable gas supply.
IRM Energy’s Director, Shri. Badri Mahapatra, was present during the signing, emphasising the strategic importance of the deal. CEO Manoj Kumar Sharma highlighted that the partnership with Shell would support economic growth and facilitate a transition to clean energy.
IRM Energy has been actively expanding its energy accessibility initiatives, focusing on sustainable and affordable solutions for industrial, commercial, and residential consumers. The company is also catering to the Compressed Natural Gas (CNG) segment to support transportation needs.
This agreement strengthens IRM Energy’s sourcing portfolio, positioning it as a key player in India’s energy transition while ensuring long-term value for stakeholders.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 250.75 crore, reflecting a YoY growth of 10.90 per cent compared to Rs 226.11 crore in December 2023. The operating profit stood at Rs 22.19 crore, marking a decline of 47.47 per cent from Rs 42.24 crore in the same quarter last year. The profit after tax (PAT) declined by 57.53 per cent to Rs 10.10 crore from Rs 23.78 crore in December 2023.
In FY24, the company posted a revenue of Rs 890.52 crore, registering a decline of 9.14 per cent compared to Rs 980.09 crore in FY23. The net profit for the year stood at Rs 85.67 crore, up 35.66 per cent from Rs 63.15 crore in the previous financial year.
With a PE ratio of 23.6, the company has ROCE of 15.4 per cent and ROE of 13.2 per cent.
The company’s current market capitalization stands at Rs 1,215.54 crore, with a current price of Rs 296.05.
Disclaimer: The article is for informational purposes only and not investment advice.