Mahanagar Gas Ltd

Meeting Details

• Date: July 31, 2026; Time: not disclosed.
• Type: group earnings conference call; Mode: virtual.
• Organiser: Prabhudas Lilladher India Private Limited.

Participants

• Management participants: MD, Deputy MD, and CFO.
• Moderator: Indrakumar Gupta, Prabhudas Lilladher India Private Limited.

Purpose

• Earnings and operations discussion for quarter ended June 30, 2026.

Additional Notes

• Transcript available on Mahanagar Gas website.
• Conference call was recorded.

Meeting Details

• Goldman Sachs India Energy Security & Grid Resilience Corporate Day; Aug 11, 2026; Time undisclosed; Virtual group meeting.
• Emkay Confluence 2026 Investor Conference; Aug 12, 2026; Time undisclosed; Virtual group meeting.

Participants

• Company management representatives to participate.

Purpose

• Analyst and investor interaction during scheduled conferences.

Additional Notes

• Schedule hosted on Mahanagar Gas website.

Meeting Details

• Date and time: July 31, 2026, 04:30 PM IST
• Type/mode: Earnings conference call (audio recording, virtual)

Purpose

• Discuss unaudited standalone and consolidated results for quarter ended June 30, 2026.

Additional Notes

• Recording available on company website.

Business Overview

• MGL is a leading Indian City Gas Distribution company with 8,477 km pipeline and 519 CNG stations.
• Core segments: CNG and PNG; 1.31 million CNG vehicles and 3.24 million PNG households.
• Gas supply secured from APM, NWG, HPHT, RLNG.
• Restated FY24-25 comparatives following UEPL amalgamation from 1 Feb 2024.
• Three-year revenue CAGR 9.39%; FY26 RoE 13.76%.

Operational Highlights

• Q1 FY27 standalone revenue ₹2,371.71 cr, up 13.95% YoY.
• Gross profit ₹639.24 cr; EBITDA ₹342.98 cr; EBITDA margin 14.46%.
• PBT ₹259.07 cr; PAT ₹193.70 cr; EPS ₹19.61.
• YoY margin and profitability compressed despite revenue growth.

Financial Performance

• Revenue growth 13.95% YoY; gross profit down 17.16%; EBITDA down 31.50%.
• EBITDA margin 14.46% vs 24.06% prior year.
• PBT ₹259.07 cr; PAT ₹193.70 cr; EPS ₹19.61 vs ₹32.35.

Capital Structure & Liquidity

• Equity: total ₹6,434 cr; share capital ₹99 cr; other equity ₹6,335 cr.
• Current liabilities ₹1,955 cr; non-current liabilities ₹576 cr.
• Cash and cash equivalents ₹57 cr; investments ₹1,036 cr.
• Final dividend ₹18 per share proposed subject to AGM.

Strategic Priorities & Outlook

• Management focus on CGD network expansion and diversified gas sourcing to support volumes.
• Integration with UEPL remains ongoing after amalgamation.
• No explicit forward-looking guidance provided.

Risks & Mitigation

• Risks include general economic conditions, regulatory developments, pricing pressures.
• Mitigation includes diversified gas sourcing and a large CGD network.

Governance & Leadership

• Final dividend of ₹18 per share declared by Board, subject to AGM.
• Amalgamation with UEPL completed; restated comparatives reflect integration.
• Shareholding: Domestic 22.53%, Institutional 11.76%.

Standalone performance

• Quarter ended 30 Jun 2026: net revenue from operations 2,371.71 Cr, up 15.62% QoQ.
• Gross revenue from operations 2,597.89 Cr; QoQ growth 13.92%.
• EBITDA 342.98 Cr; margin 14.46% of net revenue.
• Profit after tax 193.70 Cr; EPS 19.61.
• Volumes: CNG 318.09 SCM; PNG domestic 56.67 SCM; Total 433.71 SCM; 4.766 MMSCMD.
• UEPL amalgamation completed; June 2025 numbers restated per IND AS 103.
• 3EV SSA: Rs 96 Cr total investment; Rs 83.99 Cr invested; 26.13% equity.
• FPEL Reliant investment: Rs 3.89 Cr; captive user, not an associate.
• GST RCM demand Rs 54.33 Cr; hearing Aug 17, 2026; no provision recognized.
• UTNGPL dispute: PNGRB order; High Court stay; deposit Rs 50 Cr; next hearing Aug 13, 2026.

Consolidated performance

• Consolidated total income for quarter ended 30 Jun 2026: 2,629.33 Cr.
• Consolidated revenue from operations (gross) 2,597.89 Cr; total income 2,629.33 Cr.
• PAT attributable to owners: 193.00 Cr; EPS 19.54.
• Total comprehensive income: 193.97 Cr.
• Share of loss of associates: 0.31 Cr.
• Consolidation includes UEPL and associates; restatement completed.

Corporate actions & investments

• March 9, 2026: SSA & SHA with FPEL Reliant to acquire 26% stake; Rs 3.89 Cr invested this quarter.
• 3EV investment: total Rs 96 Cr; Rs 83.99 Cr invested; 26.13% equity on a fully diluted basis.

Regulatory matters & risks

• UTNGPL/PNGRB dispute: stay on PNGRB order; deposit Rs 50 Cr; next hearing Aug 13, 2026.
• GST RCM demand remains disputed; hearing Aug 17, 2026; no outflow expected per legal opinion.

Business model & segments

• Business focuses on selling and distributing natural gas.
• No separate reportable segments; IND AS 108 operating segments applies to gas sales.

Meeting Details

• Scheduled for Friday, July 31, 2026 at 04:30 PM IST.
• Virtual earnings conference call with research analysts and investors.
• Organized by Mahanagar Gas Limited for Q1FY27 results discussion.

Participants

• Key company participants: Managing Director, Deputy Managing Director, and Chief Financial Officer.

Purpose

• To discuss the company's Q1FY27 financial and operational performance.

Additional Notes

• Details attached as annexure and hosted on the company website.

Dematerialisation status

• Dematerialisation requests processed; securities confirmed to depositories (accepted/rejected) for quarter ended 30 June 2026.
• Securities dematerialised have been listed on the stock exchanges where the existing securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled; depository name substituted as registered owner within prescribed timelines.

Chakrapani Atmakur – Superannuation/Cessation

• Chakrapani Atmakur superannuates and ceases as Senior Management Personnel with effect from July 1, 2026.

Sanket Dhotre – HR & CSR VP Appointment

• Sanket Dhotre appointed Vice President, Human Resources & Corporate Social Responsibility (Senior Management Personnel), effective July 1, 2026.

Mukesh Panhotra – Marketing VP Appointment

• Mukesh Panhotra appointed Vice President, Marketing (Senior Management Personnel), effective July 1, 2026.