Growth might moderate for short term but over let’s say 3 years timeline it might just be there
There is policy support from Govt in terms of gasification of fuel and growth from new GAs. At fundamental level CNG cost per Km is lower than Petrol/ Diesel cost per Km. Unless heavy disruption from EV ( Which doesn’t seem probable) it should do ok
Moat as per me, IGL is monopoly in its markets with already layed out pipelines etc. No way others can establish without atleast leasing pipeline from IGL which can be source of revenue as well. Yes Govt is involved but then that’s the risk we take basis our individual judgement
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