THE DELHI GOVERNMENT'S plan to make it mandatory for cab aggregators to have all-electric fleet in five years, and the surge in electric vehicles registration in Mumbai could pose daunting challenges to the dominant city-gas distribution companies in the two metros - IGL and Mahanagar Gas, respectively. However, the extent of the adverse impact on the two firms'top lines may differ owing to the difference in the EV targets set by the administrations of the two mega cities, analysts said.
These companies may need to expand piped-gas business at a faster rate to meet the overall growth targets, although a large part of it will depend on how fast the pipeline network is laid out, by the likes of GAIL India. While IGL sees 15% volume to take a hit as the EV penetration sets in, Mahanagar Gas still expects to maintain a growth of 5-6% in its volumes.
"We expect with the lesser addition of new CNG vehicles by aggregator going forward, the sales growth in this particular aggregator segment which is 15% of our volumes, will remain muted for next 3-5 years,"IGL said on Thursday.
Denne historien er fra November 03, 2023-utgaven av Financial Express Mumbai.
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Denne historien er fra November 03, 2023-utgaven av Financial Express Mumbai.
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