IRM Energy Ltd

Overview

IRM Energy Limited was incorporated as a Private Limited Company in the name of IRM Energy Private Limited' vide Certificate of Incorporation dated December 1, 2015, issued by the Registrar of Companies, Gujarat at Ahmedabad. Subsequently, Company was converted from a Private Company to Public Company and the name of Company was changed to IRM Energy Limited' through a Fresh Certificate of Incorporation dated March 23, 2022, was issued by the RoC. The Company is a city gas distribution (CGD) company in India, with operations at Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat), and Namakkal & Tiruchirappalli (Tamil Nadu), engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network. The Company develop natural gas distribution projects in the geographical areas for industrial, commercial, domestic and automobile customers. The Company supply natural gas to two primary set of customer segments comprising of CNG (Compressed Natural Gas) and PNG (Piped Natural Gas). CNG customers include operators of public transport vehicles such as taxis, auto-rickshaws, and private vehicles such as cars, buses, light goods vehicles and heavy goods vehicles. PNG customers are broadly classified into three segments, which are, industrial PNG (small, medium and large-sized enterprises), commercial PNG (such as hotels, restaurants, bakeries, hostels and community halls) and domestic PNG (predominantly using PNG as cooking gas). In 2017, the Company started operations by commissioning their first City Gate Station at Banaskantha; commissioned Mother Station at Banaskantha; commissioned DODO Station at Banaskantha; in 2018, it commissioned a City Gate Station at Fatehgarh Sahib; commissioned a Mother Station at Fatehgarh Sahib. Later in 2021, it commissioned the 50th CNG Stations (including DODO Stations and OMC Stations); in 2022, it commissioned L-CNG Station at Gir Somnath; commissioned over 35,000 PNG domestic connections at Banaskantha; in 2023, it commissioned over 50,000 PNG domestic connections at Company level; commissioned first CNG Station at Namakkal and Tiruchirappalli GA (OMC Station). The Company issued 10,800,000 equity shares of face value of Rs 10 by raising Rs 544.36 crores through Initial Public Offer in October, 2023. In FY 2024, Company expanded the customer base to 195 PNG industrial customers, 340 PNG commercial customers and 66,228 PNG domestic customers. The Company established 82 CNG Stations comprising 5 stations owned and operated by the Company (COCO Stations) including pure play mother station, 38 CNG stations owned and operated by dealers (DODO Stations) and 39 CNG stations owned and operated by oil marketing companies (OMC Stations) as at March 31, 2024. Additionally, the Company commissioned 15 CNG stations in Namakkal and Tiruchirappalli GA. The Company expanded its customer base to over 75,000 domestic households, 214 industrial units and 412 commercial establishments in FY25. It laid over 475 kilometers of pipeline and commissioned 29 new CNG stations, taking the total tally of CNG stations to 111. In FY 2024-25, the Company commissioned a total of 29 CNG stations, comprising 18 stations in the Namakkal and Tiruchirappalli GA, 7 stations in the Banaskantha GA, 2 stations in the Fatehgarh Sahib GA, and 2 stations in the Diu & Gir-Somnath GA.