Indraprastha Gas Limited could face margin pressure from elevated crude-linked gas procurement costs if they cannot be fully passed on to consumers, according to Choice Institutional Equities analyst Dhaval Popat.

Indraprastha Gas Limited may need to invest in safety, monitoring and network compatibility upgrades after the Petroleum and Natural Gas Regulatory Board proposed up to 5% hydrogen blending in household piped gas. The company would have to absorb higher blended-gas costs or pass them on, while already facing volatile LNG prices, with April-June FY27 net profit down 44% year-on-year to Rs 238 crore.