Thank you for the reply. I believe the EV policy date for Delhi is by 2030, and not 2027. However, my assumption on volumes is based on 1) IGL’s own growth forecasts for gas sales, they expect to end FY25 at 10 MMSCMD 2) Conversion of inter-state transport and possibly, other heavy vehicles (IGL talks about dumpsters) to gas 3) Chances of EV transition being slower 4) IGL expansion to other geo areas.
That’s my rationale for being a bit more sanguine about volumes. I could be wrong, of course. However, I am less convinced about price/margin pressures. I would love to get some perspective on that.
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