Indraprastha Gas Limited — Important, 15-11-2024: Disclosure of material issue

Indraprastha Gas Limited has reported a further reduction in its domestic gas allocation, which will be effective from November 16, 2024. This revised allocation is approximately 20% lower than the previous allocation and is expected to adversely impact the company's profitability. The domestic gas is essential for meeting CNG sales volumes, priced by the government at $6.5/mmbtu. In light of this development, the company is actively exploring various strategies to mitigate the implications of the reduced gas supply. Investors should closely monitor this situation as it could influence financial performance in the near term.