Mahanagar Gas Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.

Pat NegativeEbitda Margin CompressionResults RestatedResults View source PDF Explain this filing

MGL · price

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Price reactionminutes from the announcement price · days from the prior close

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prior close

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Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+0.2%-1.1% vs market

LPG/CNG/PNG/LNG Supplier peers, median of 6sector-2.0%+1.1% vs sector

On the reaction day the stock moved 1.1 pts less than Nifty Smallcap 250 and 1.1 pts more than its LPG/CNG/PNG/LNG Supplier peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Mahanagar Gas Limited reported FY 2025-26 revenue of Rs. 9,059.77 crore, up 13.5% YoY from Rs. 7,916.42 crore. However, profit after tax declined 18.7% to Rs. 846.82 crore from Rs. 1,041.26 crore in FY 2024-25. EBITDA fell 7.6% to Rs. 1,451.07 crore with EBITDA margin contracting from 21.62% to 17.61%. Q4 FY26 PAT was Rs. 131.92 crore, down 34.7% from Rs. 201.97 crore in Q3 FY26. The company recorded a reversal of Rs. 112.87 crore in trade discounts to OMCs for earlier periods as per Ind AS 115. Deloitte Haskins & Sells issued an unmodified (clean) audit opinion. Total dividend of Rs. 30 per share was recommended (Rs. 12 interim already paid plus Rs. 18 final). The company has contingent liabilities including GST demand of Rs. 54.33 crore and GAIL transportation tariff dispute of Rs. 331.80 crore.

Likely market impact

Despite revenue growth, MGL's profit declined significantly due to higher gas purchase costs and reversal of prior period trade discounts. EBITDA margin compression signals margin pressure. The clean audit opinion is reassuring.