Investor Presentation
Awaiting price reaction for this filing.
Mahanagar Gas Limited (MGL) filed its investor presentation for Q4 and FY25 ended March 31, 2025. FY25 revenue grew 10.88% YoY to ₹6,923.68 crore, driven by higher volumes (total volumes at 4.235 MMSCM vs 3.926 MMSCM). However, profitability was under pressure with EBITDA down 18.06% YoY to ₹1,509.78 crore and PAT declining 18.94% YoY to ₹1,044.89 crore, as EBITDA margins compressed sharply to 21.81% from 29.51% due to higher gas costs. Q4FY25 showed sequential improvement with revenue up 6.1% QoQ and EBITDA up 20.35% QoQ, while margins recovered to 20.29% from 17.89%. The Board declared a final dividend of ₹18 per share, taking total FY25 dividend to ₹30 per share (including special dividend).
Mixed bag for shareholders — strong volume growth and revenue expansion, but FY25 profits took a significant hit from elevated gas costs, weighing on the stock. The QoQ margin recovery in Q4 and continued volume momentum in newly acquired UEPL areas (39,000 households, 82 CNG stations) offer some near-term comfort.