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Indus Gas Lifts Interim Profits but Awaits PSC Extension for New Gas Sales Deal

Story Highlights
  • Indus Gas delivered higher interim revenue and profit, though its balance sheet remains heavily leveraged with modest equity versus large assets.
  • Production from key gas fields is limited and sales rely on an interim deal with Gail pending a critical PSC extension and new long-term contract.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Indus Gas Lifts Interim Profits but Awaits PSC Extension for New Gas Sales Deal

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Indus Gas ( (GB:INDI) ) has shared an update.

Indus Gas reported a strong rise in interim results for the six months to 30 September 2025, with adjusted revenue increasing to US$3.99m from US$2.34m a year earlier and operating profit and profit before tax both advancing to US$1.93m from US$1.24m. Net profit for the period climbed to US$1.14m versus US$0.64m, despite the company continuing to book a notional deferred tax charge in line with IFRS. The balance sheet remains highly leveraged, with long-term debt and substantial related-party payables dominating total liabilities, while shareholder equity is modest at about US$7.2m relative to a US$906m asset base. Operationally, production from the SGL, SSF and SSG fields is currently limited, and gas continues to be supplied to Gail under an interim term sheet; management signalled that a new long-term gas sales agreement is contingent on the long-awaited extension of the production sharing contract (PSC), meaning regulatory timing will be critical for future sales visibility and cash flow stability.

The most recent analyst rating on (GB:INDI) stock is a Sell with a £8.00 price target. To see the full list of analyst forecasts on Indus Gas stock, see the GB:INDI Stock Forecast page.

Spark’s Take on GB:INDI Stock

According to Spark, TipRanks’ AI Analyst, GB:INDI is a Underperform.

Indus Gas’s overall stock score is primarily impacted by its financial instability, characterized by high leverage and negative profitability. The technical analysis further indicates bearish momentum, and the valuation metrics are unattractive due to the negative P/E ratio and lack of dividend yield. These factors collectively suggest a high-risk investment profile.

To see Spark’s full report on GB:INDI stock, click here.

More about Indus Gas

Indus Gas Limited (AIM: INDI) is an oil and gas exploration and development company focused on upstream hydrocarbon assets, including the SGL, SSF and SSG gas fields, with production sold into the Indian gas market under supply arrangements with state-owned offtaker Gail.

Average Trading Volume: 148,738

Technical Sentiment Signal: Sell

Current Market Cap: £17.58M

Learn more about INDI stock on TipRanks’ Stock Analysis page.

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