Investor Presentation on Audited Standalone and Consolidated Financial Results and Operational Performance of the Company for the financial year ended March 31, 2026
MGL · price
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Mahanagar Gas reported FY26 net revenue of ₹8,240.21 crore, up 13.48% YoY, but profitability declined sharply with PAT falling 18.67% to ₹846.82 crore. EBITDA margins compressed significantly from 21.62% in FY25 to 17.61% in FY26, indicating margin pressure. Q4 FY26 was particularly weak with PAT down 45.56% YoY and EBITDA down 34.09% YoY. The company serves 1.28 million CNG vehicles across 518 stations and 3.21 million PNG household connections across 6 geographic areas. Gas cost per SCM increased from ₹30.08 in FY25 to ₹33.55 in FY26, squeezing margins. The company declared a final dividend of Rs.18 per share. GAIL holds 32.50% stake while the Government of Maharashtra holds 10%.
Revenue growth is encouraging but the sharp decline in profitability and margin compression raises concerns about cost management and gas price pass-through ability. The significant Q4 underperformance may weigh on near-term stock sentiment.