| Revenue growth | Revenue not stated; volumes up 2.6% QoQ; EBITDA down 16% QoQ. |
|---|---|
| Margins | Margins contracted QoQ; about ₹6.77/SCM versus ₹7 target. |
| Demand visibility | Industrial demand curtailed; CNG, domestic, small commercial growing 9–12%. |
| Management confidence | Defensive on margins; claims results beat market expectations. |
Growth
Total volume 4.892 MMSCMD, up 2.6% QoQ. CNG +1.6%, domestic PNG +2.6%, industrial/commercial +8.1% QoQ. H1 EBITDA ₹630 Cr vs ₹839 Cr YoY.
Outlook
Volume growth guided above 8–9% for FY27 and FY28, conditional on gas normalising. Capex ₹1,500–1,800 Cr maintained; operating cash flow ₹1,000–1,200 Cr.
Risks
Industrial supply curtailed around 70%, Brent-linked pricing, and unit margin of about ₹6.77/SCM versus a ₹7 target. Management declined to guide FY27 margins.
Earnings Call Transcript filed with NSE, NSE: MGL. Summary written with AI assistance from the document.
Mahanagar Gas Ltd: key numbers
- Share price
- ₹1,059.70
- Market cap
- ₹10,467 Cr
- Revenue (annual)
- ₹8,246 Cr
- Net profit (annual)
- ₹841.2 Cr
- P/E (TTM)
- 15.9×Sector 21.3×
- Promoter holding
- 32.50%+0.00% QoQ
- FII holding
- 23.46%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Mahanagar Gas Ltd
All →Mahanagar Gas Investor Presentation: Key Takeaways
Q2 FY27 net revenue ₹2,537 Cr (+23.8% YoY) but PAT ₹137 Cr (-29.1%) and EBITDA margin 12.0% (vs 16.5%) on higher gas costs.
Mahanagar Gas Other Announcement
Mahanagar Gas Limited has amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. The updates align with SEBI (Prohibition of Insider Trading) Regulations as of September 2026.
Mahanagar Gas Q2 FY27 Results: Net Profit ₹135.4 Cr, Down 29.2% YoY
Mahanagar Gas Ltd reported revenue from operations of ₹2,778 Cr (+23.1% YoY) and net profit of ₹135.4 Cr (-29.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹135.4 Cr · -29.2% YoY
Mahanagar Gas Capital Structure Change
PPFAS Mutual Fund raised its Mahanagar Gas stake via open-market purchase. The SAST Reg 29(1) disclosure shows a non-promoter buy of 65,449 shares.
Mahanagar Gas Board Meeting Date
Mahanagar Gas Ltd notified exchanges of a board meeting on November 3, 2026 to approve Q2 and H1 unaudited financial results. Trading window closure also announced for designated persons.
Mahanagar Gas Other Announcement
Mahanagar Gas Ltd filed its quarterly shareholding pattern report for the period ending September 30, 2026, as required by SEBI regulations.