In today’s briefing:
- IGL: Strategic Advantages in Tax and Crude Price Lead to Higher Profit Growth
- Maynilad Water Services IPO – Recent Updates, Peer Comparison and Thoughts on Valuation
IGL: Strategic Advantages in Tax and Crude Price Lead to Higher Profit Growth
- IGL is set for a significant margin boost from a VAT reduction on Gujarat-sourced gas, the new PNGRB two-zone tariff, and lower crude-linked input costs
- The reduced VAT, new tariff structure, and falling oil prices position IGL for significant margin growth, potentially boosting PAT by 8-15% in the coming years.
- Favorable regulatory changes and reduced raw material costs create a clear pathway for IGL to achieve its higher EBITDA per SCM guidance and sustain robust volume growth.
Maynilad Water Services IPO – Recent Updates, Peer Comparison and Thoughts on Valuation
- Maynilad Water Services (MYNLD PH) (MWS) is looking to raise around US$450m in its upcoming Philippines IPO.
- MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.
- We have looked at the past performance in our previous note. In this note, we talk about the IPO pricing
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