Mahanagar Gas Limited has informed the Exchange about Transcript
MGL · price
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MGL held its Q4 FY25 earnings call covering results for the quarter and year ended March 31, 2025. FY25 average sales volume rose 12.27% to 4.045 mmscmd, but full-year EBITDA fell sharply to Rs. 1,510 crores (from Rs. 1,843 crores) and PAT dropped to Rs. 1,045 crores (from Rs. 1,289 crores), mainly due to lower APM gas allocation and higher input gas costs. Q4 PAT grew 12% YoY to Rs. 252 crores and Q4 EBITDA grew 20% to Rs. 378 crores. The Board declared a final dividend of Rs. 18 per share, taking the total FY25 dividend to Rs. 30 per share (300% on face value). Management guided for FY26 volume growth of ~10% (±1%) and EBITDA margin of Rs. 9-11 per SCM, alongside CAPEX of around Rs. 1,300 crores. Updates were also shared on the 3EV and IBC joint ventures, LNG trucking station rollout, and regulatory matters including the PNGRB open access review and Bombay High Court committee on EVs.
FY25 results show clear margin pressure from unfavorable gas sourcing mix, with management's FY26 EBITDA guidance of Rs. 9-11/SCM offering no upside versus FY25's Rs. 10/SCM. The strong Rs. 30/share dividend (yield support) and 10% volume growth outlook provide some comfort, but margin recovery hinges on crude staying below $67.5/barrel and stable gas allocations.