During Thursday’s trading session, the price of a Gas distribution company jumped upto 10 percent after successfully signing a 5-year long-term contract with Shell Energy India Private Limited for the supply of Regasified Liquefied Natural Gas (RLNG).
Price movement
With a market capitalization of Rs.1,091.57 crores, at 10 p.m., the shares of IRM Energy Limited surged up to 10.3% at Rs 298.6 on NSE, against its opening price of RS.271.65 after the company signed an agreement with Shell energy limited for the period of 5 years.
What’s the News
IRM Energy Limited has successfully signed a long-term Regasified Liquefied Natural Gas (“RLNG”) purchase agreement with Shell Energy India Private Limited for the period of 5 years According to the agreement it will be purchasing 1,23,21,200 MMBtu equivalent to approximately 326.84 mmscm @ 9500 k/cal Gross Calorific Value (GCV) of RLNG.
This agreement is expected to enable IRM Energy to secure a stable and affordable gas supply for its industrial and commercial customers, the agreement is also expected to enhance the sourcing portfolio of the company strategically and create long-term value for its stakeholders
Management comments:
The CEO of IRM Energy said at the signing of the contract ” This agreement is a testament to our commitment to providing sustainable and affordable energy solutions to our valued customers. With this partnership, we are confident in ensuring stable gas supplies that will support economic development and clean energy adoption”
Future prospects:
The company expects that this agreement is set to play a pivotal role in ensuring consistent RLNG availability, supporting the Industrial and Commercial segment. By leveraging Shell’s global expertise in LNG, IRM Energy aims to enhance its service capabilities, helping businesses transition towards greener energy alternatives and reducing their carbon footprint.
Financials :
The revenue from operations of the company has increased by 10.4 percent from Rs 233.24 Crores in Q3 FY2024 to Rs 257.65 Crores in Q3 FY2025. Whereas the net profits of the company have declined by 57.5 percent from Rs 23.78 Crores in Q3 FY2024 to Rs 10.1 Crores in Q3FY2025.
About the company:
IRM Energy is a leading energy solutions provider involved in developing, operating, and expanding of local natural gas distribution network the company is dedicated to delivering safe and sustainable natural gas at affordable prices to industrial, commercial, and residential customers and Compressed natural gas (CNG) to the transportation segment
IRM Energy has been at the forefront of expanding energy accessibility through strategic alliances and innovation. The Company’s mission is to contribute to India’s clean energy transition while ensuring energy affordability for industries and consumers alike.
Written By : Likesh babu s
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