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Torrent Gas eyes five mscmd sales volumes with Rs 10,000 cr capex plan

Tuesday, 22 Jun 2021
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Torrent Gas intends to invest about Rs 10,000 crore by 2026. This will be for 32 districts under its authorisation.

So far, the company has already invested about Rs 1,800 crore. By pumping Rs 10,000 crore, it expects the gas sales volumes to cross five mmscmd in five years.

The investment plan doesn't include prospective new acquisitions or new GAs. The company has done four acquisitions in the last three years and will continue to actively scout for acquisitions.

Torrent Gas intends to fund the investment through 70:30 debt-to-equity ratio. The 30 percent equity portion will come from holding company Torrent Investments. It doesn’t need to raise any external equity at this time.

Torrent Gas has authorisation for 16 Geographical Areas (GAs) having 32 districts. There are some highly prolific areas in these districts such as Chennai, Jaipur and a large part of Pune district. With this diverse portfolio of GAs, there is a high potential for growth for Torrent Gas.

 
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