Mahanagar Gas Limited has informed the Exchange about Investor Presentation
MGL · price
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Mahanagar Gas Limited (MGL) shared its Investor Presentation 2025 on June 6, 2025, covering its FY25 performance and growth outlook. The company reported FY25 revenue of ₹6,924 crore, PAT of ₹1,510 crore, and EBITDA of ₹2,466 crore, but margins were under pressure with EBITDA margin falling to 21.81% (from 29.51% in FY24) and gross margin per SCM dropping to ₹16.51 (from ₹19.71) as gas costs rose to ₹30.04/SCM. MGL remains debt-free with AAA (Stable) ICRA rating, serving 2.83 million+ PNG households and 1.11 million+ CNG vehicles through 385 CNG stations and 7,460+ km of pipeline. The presentation outlined multi-year targets including the CGD industry's growth from 41 to 103 MMSCMD by 2030, MGL's plan to add 180 km of steel pipeline and 250 CNG stations over five years, and a net-zero roadmap for Scope 1 & 2 by FY36. Strategic investments in subsidiaries (UEPL), JVs (MLPL, CBG plant) and associates (3EV, IBC India) totalling over ₹1,000 crore highlight diversification into LNG, EV mobility, biogas, and battery manufacturing.
Short-term negative as FY25 margins contracted sharply on higher gas costs, but the debt-free balance sheet, AAA rating, and clear growth roadmap with multi-year volume and infrastructure targets provide medium-term confidence. The diversification moves into EV, battery, and biogas may be seen as long-term value creators but near-term earnings dilutive due to losses at subsidiaries/associates.