| Management target | Revenue 9.0% FY27 |
|---|
| Revenue growth | Overall sales volume increased 7% YoY led by CNG. |
|---|---|
| Margins | EBITDA per SCM target remains steady at ₹8-9. |
| Demand visibility | Strong demand in CNG and domestic PNG; Industrial remains supply-constrained. |
| Management confidence | Balanced; focused on cost containment during volatile energy market cycles. |
Growth
CNG volumes grew 9.7% YoY; domestic PNG conversions hit 95,000 for the quarter, an all-time high.
Outlook
Management expects 8-9% CNG volume growth for FY27 and plans FY27 Capex of ₹1500-1800 crore.
Risks
Industrial/Commercial volumes fell 7.15% due to government-mandated allocation cuts and high spot LNG prices.
Last quarter's promises, checked
Delivered
- Guided 3.21m household connectivity → delivered 3.21m (= BEAT)
- Guided 518 CNG stations → delivered 518 (= BEAT)
- Guided 5,924 industrial/commercial customers → delivered 5,924 (= BEAT)
Partly delivered
- Guided INR1,200cr Capex → delivered partial spend due to labor/material constraints (= PARTIAL)
Missed
- Guided INR1,041cr FY25 PAT → delivered INR847cr FY26 (= MISS)
- Guided INR1,570cr FY25 EBITDA → delivered INR1,451cr FY26 (= MISS)
- Guided 0.686 mmscmd industrial volume → delivered 0.719 mmscmd (= BEAT)
Earnings Call Transcript filed with BSE, NSE: MGL. Summary written with AI assistance from the document.
Mahanagar Gas Ltd: key numbers
- Share price
- ₹1,039.00
- Market cap
- ₹10,263 Cr
- Revenue (annual)
- ₹8,246 Cr
- Net profit (annual)
- ₹841.2 Cr
- P/E (TTM)
- 14.3×Sector 24.7×
- Promoter holding
- 32.50%+0.00% QoQ
- FII holding
- 23.21%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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