Mahanagar Gas Limited has informed the Exchange about Transcript
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Mahanagar Gas reported Q4 FY26 net profit of ₹132 crores, down from ₹202 crores in Q3, impacted by supply disruptions from the West Asia geopolitical crisis. For full year FY26, EBITDA was ₹1,451 crores (vs ₹1,570 crores in FY25) and net profit was ₹847 crores (vs ₹1,041 crores). The company maintained 100% supply to domestic PNG and CNG customers using domestically produced gas, but industrial/commercial supply was curtailed to ~80%. Q4 sales volume grew 6.15% YoY to 4.672 mmscmd. The board approved a total dividend of ₹30 per share for FY26. Management expects double-digit volume growth in FY27 driven by faster infrastructure creation due to eased regulations, but acknowledges near-term margin pressure as cost increases are not fully passed through yet.
The near-term margin outlook is weak due to incomplete cost pass-through for CNG despite higher gas sourcing costs, though the company prioritizes volume growth over margins. Higher Brent crude prices are providing some offset through better realizations in the industrial/commercial segment, and regulatory easing for pipeline permissions could accelerate future volume growth.