Mahanagar Gas Ltd · NSE:MGL
Mahanagar Gas — Investor Presentation (June 2025)
52 slides from Mahanagar Gas's investor presentation, Jun 6, 2025
Slide 1: Stock exchange disclosure letter under Regulation 30
Ref: MGL/CS/SE/2025/622 Date: June 06, 2025 To, Head, Listing Compliance Department Head, Listing Compliance Department BSE Limited National Stock Exchange of India Limited P. J. Towers, Exchange Plaza, Bandra – Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Scrip Code
Slide 2: Investors' and Analysts' Meet June 2025
INVESTORS’ AND ANALYSTS’ MEET JUNE - 2025 MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025
Slide 3: Safe Harbor
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 02 Company Overview Safe Harbor This presentation may contain statements which reflect the management’s current views and estimates and could be construed as forward-looking statements. The future involves certain risks and uncertainties that could ca
Slide 4: Industry
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Slide 5: Natural Gas Market and CGD: Attractive Industry
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 04 Industry Natural Gas Market and CGD : Attractive Industry Industry Overview India is the third-largest In 2023, India’s primary energy consumer in the energy consumption was world after China and 39 Exajoules (EJ) behind US. China (170.74 EJ) and t
Slide 6: Natural Gas Consumption Patterns
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 05 Industry Natural Gas Consumption Patterns Figures in MMSCMD India – Natural gas consumption and supply sources Figures in MMSCMD 195 188 176 176 162 167 167 164 157 153 144 141 144 97 83 98 76 91 87 88 92 85 109 85 95 90 93 91 90 98 75 79 85 68 72
Slide 7: Natural Gas Consumption Patterns (Cont.)
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 06 Industry Natural Gas Consumption Patterns (Cont.) Figures in MMSCMD India – Sectorial consumption pattern Increasing share of domestic gas in CGD segment 29.0 24.0 26.6 16.6 45.0 44.0 36.0 33.9 34.2 34.3 31.1 35.8 9.0 14.0 14.5 16.1 13.8 14.0 14.4
Slide 8: Natural Gas Consumption Patterns (Cont.) - Domestic
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 07 Industry Natural Gas Consumption Patterns (Cont.) Domestic (figures in MMSCMD) 45.0 44.0 31.1 35.8 13.8 14.0 14.5 16.1 12.8 14.4 15.7 13.1 19.0 24.3 27.5 28.0 25.7 24.9 20.6 19.9 20.5 19.0 17.8 17.0 18.8 17.6 18.0 18.0 15.7 11.2 8.3 8.0 2018 2019 2
Slide 9: Natural Gas Consumption Patterns (Cont.) - RLNG
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 8 Industry Natural Gas Consumption Patterns (Cont.) RLNG (figures in MMSCMD) 29.0 24.0 36.0 33.9 26.6 16.6 9.0 14.0 34.2 34.3 8.7 7.0 8.0 12.2 14.4 14.1 3.4 10.9 9.8 7.3 10.8 9.7 7.2 8.0 49.0 42.0 48.0 30.8 33.9 21.4 23.5 26.2 2018 2019 2020 2021 2022
Slide 10: CGD – Future Landscape
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 9 Financial Performance CGD – Future Landscape Trends Positive CGD sector to grow at a faster • $67 billion planned investment in • CNG enjoys an edge in CV pace as natural gas becomes the natural gas sector over the next five years. 1 segment with hi
Slide 11: MGL: An Introduction
02 MGL : An Introduction
Slide 12: Corporate Vision
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 11 Company Overview Corporate Vision About Mahanagar Gas Limited Mahanagar Gas Limited (MGL) was incorporated on 8th May 1995 with GAIL and British Gas (BG) as its promoters. MGL was listed on 1st July 2016; on NSE & BSE. (Post IPO GAIL & BG held 32.5
Slide 13: Our Values
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 12 Company Overview Our Values Customer Innovation Accountability Integrity Excellence Centricity We encourage At MGL, as a team, As an organization, Fairness and We are always in the creativity, we go beyond 100% we strive towards ethical behaviour p
Slide 14: Shareholding, Dividend and Market Capitalisation
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 13 Company Overview Shareholding, Dividend and Market Capitalisation Shareholding Pattern Dividend Per Share Market Capitalisation as on 31 March 2025 (₹) (₹ Crore) 15 19,167 30 30 15,774 26 13,474 13,700 25 12,687 23 20 32.5% 10.0% 24.3% GAIL Governm
Slide 15: One of the largest CGD Companies in India
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 14 Company Overview One of the largest CGD Companies in India Consistent Secured Gas Strong Track Record Availability Customer Base > 30 APM, HPHT, 1.11mn+ Years of CNG Vehicles consistent growth Term RLNG 2.83mn+ PNG Households Infrastructure Commitm
Slide 16: Areas of Operation
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 15 Company Overview Areas of Operation Existing MGL’s Geographical Area (GA) Newly Acquired Numbers including MGL and UEPL GA’s of UEPL 45,691 47,96,180 Area (sq Km) Urban Households 467 668 7,154 CNG Stations Steel Pipeline PE Pipeline (No) Length (K
Slide 17: Infrastructure
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 16 Company Overview Infrastructure Cumulative Domestic Conversion Retail Outlets PE Commercial 18.61 Lakhs 385 Nos. 6819 Kms 4590 Connectivity Vehicles on CNG Steel Industrial 28.33 Lakhs 11.13 Lakhs 641 Kms 515 Domestic Conversions Nos.Lakhs CNG Reta
Slide 18: Infrastructure Growth
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 17 Company Overview Infrastructure Growth As on As on Parameters UOM % Growth 31.03.2018 31.03.2025 Domestic Connectivity Nos. 11,08,686 28,32,747 156% Domestic Conversions Nos. 9,51,115 18,61,304 96% CNG Stations Nos. 223 385 73% • Online Nos. 186 26
Slide 19: CAPEX Year on Year
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 18 Company Overview CAPEX Year on Year 1,023 GA I GA II GA III Total Total Capex as on March 31, 2025 ₹ 6,906 Crore 181 802 672 108 648 99 121 419 350 489 95 388 266 90 317 157 143 168 117 284 234 305 354 2019-20 2020-21 2021-22 2022-23 2023-24 2024-2
Slide 20: Sales Volumes
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 19 Company Overview Sales Volumes (MMSCMD) 4.052 3.609 3.423 2.950 2.952 2.999 2.211 1.963 1.831 1.810 1.840 1.660 1.599 GA1 1.845 1.230 1.607 1.503 GA2 1.252 1.314 1.100 GA3 0.899 0.163 0.244 0.019 0.040 0.082 0.087 0.110 Total FY 19 FY 20 FY 21 FY 2
Slide 21: Sales Volumes
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 20 Company Overview Sales Volumes (MMSCMD) CNG 5 Years DPNG 5 Years Industrial and 5 Years Total 5 Years CAGR CAGR Commercial CAGR CAGR 6.07% 6.84% 8.62% 6.55% 0.62 2.88 0.55 0.52 4.05 2.59 0.48 0.50 2.49 0.46 0.47 3.61 0.45 3.42 2.14 2.11 0.40 0.41 0
Slide 22: Attractive Fuel Economics
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 21 Company Overview Attractive Fuel Economics Benefits of CNG / PNG CNG is price competitive Despite being expensive, Commercial PNG is favourably compared to alternatives domestic PNG offers priced vs. alternate fuels convenience Price Advantage Natu
Slide 23: Diversified Sourcing Strategy
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 22 Company Overview Diversified Sourcing Strategy Priority Segment Forms Majority Non-Priority Segment Sales Volume Composition – FY25 Distribution Gas for I&C Majority of MGL’s sales are from CNG and D-PNG Market determined price Term Gas for D-PNG 1
Slide 24: Strategy for Growth
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 23 Company Overview Strategy for Growth Strengthen Increase Market Digital Initiatives Infrastructure Penetration Expanding areas of operations in the CNG & PNG customer additions in all GA’s Digitization to improve customer next 5 years by adding: ex
Slide 25: Board and the Executive Management
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 24 Company Overview Board and the Executive Management MGL’s Board is fairly diversified The Company has very strong parentage of The Company’s Senior Executive consisting of 8 Board members, GAIL and in the initial years British Gas, which management
Slide 26: Credit Strength
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 25 Financial Company Performance Overview Credit Strength Healthy Profitability Highly comfortable and ability to generate working capital cash consistently from cycle core business 1 3 2 4 Consistently Debt free Rated AAA Company with (Stable) by ICR
Slide 27: Governance Structure
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 26 Company Overview Governance Structure The Company Governed through the Board / Committees Formal Board Delegated Power to executive management Business Risk Register in place much before SEBI mandate Documented Contracts and Procurement manual appr
Slide 28: Promotional Initiatives
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Slide 29: Promotional Activities: CNG Mahotsav
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 28 Promotional Promotional Activities: CNG Mahotsav Objective Social Media/ Print / Teaser Campaign Develop ecosystem for retro fitment of Commercial Vehicles (CVs) and promote CNG as a fuel in the CV segment. Target Period Festive Season Sep to Mar T
Slide 30: Promotional Activities: PNG Promotion
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 29 Financial Performance Promotional Promotional Activities: PNG Promotion Special drives for bakeries 1 Waiver of Security deposit charges or Actual charges for upgradation of existing metering units for customers affected by the law enforcement dire
Slide 31: CSR
04 CSR
Slide 32: Corporate Social Responsibility (CSR)
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 31 CSR Corporate Social Responsibility (CSR) MGL VIDYA for Education 14% MGL Vidya MGL HUNAR for Skills Development 10% MGL Hunar MGL AAROGYA for Health Care and Sanitation 35% MGL Aarogya MGL SAKSHAM for Empowerment 19% MGL Saksham MGL VIKAS for Rura
Slide 33: Corporate Social Responsibility (CSR) – Recognitions
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 32 CSR Corporate Social Responsibility (CSR) – Recognitions EXCELLENCE AWARD- Disability Recognition from the Tribal Development Department, presented by the Armed Forces Flag Day Prevention & Treatment category in the Hon'ble Chief Minister of Mahara
Slide 34: O&M Infrastructure
05 O&M Infrastructure
Slide 35: Safety and Operational Control Systems
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 34 O&M Infrastructure Safety and Operational Control Systems Emergency Control Stations MGL has divided its 24 x 7 Control room 29 Emergency Van authorized GAs into To receive complaints Fully Equipped and 16 districts of damages and operational round
Slide 36: Safety and Operational Control Systems
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 35 O&M Infrastructure Safety and Operational Control Systems Integrated Security Control Room Video Analytics & AI: ICR Establishment of Secondary ICR & has connectivity with Primary ICR Fire Alert Receiving fire alerts at centralized location Intrusi
Slide 37: Safety and Operational Control Systems
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 36 O&M Infrastructure Safety and Operational Control Systems Integrated Command and Control Centre
Slide 38: Preventive Measures: MGL Sahayogi
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 37 Financial O&M Infrastructure Performance Preventive Measures: MGL Sahayogi Relaunched ‘MGL Sahayogi’ initiative to encourage residents to inform about accidental damage to pipelines, with a new exclusive helpline number 1800 2100 2100. Helps in avo
Slide 39: ESG & HSE
) MAHANAGAR GAS ESG & HSE
Slide 40: Environmental, Social and Governance - ESG
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 39 ESG Environmental, Social and Governance - ESG GHG emissions (tCO2e) Emissions from combustion of Stationary engines/ turbines 9,185 Operational emissions from Compressors & dispenser operations 51,110 Venting loss emissions from distribution of se
Slide 41: ESG Rating & Initiatives
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 40 Financial Performance ESG Environmental, Social and Governance - ESG Rating & Initiatives Compressed Biogas (CBG) plant of 500 TPD (Phase1) capacity is planned in Mumbai- Deonar based on 11 1 MSW (Municipal Solid Waste) as feedstock. Recently MCGM
Slide 42: Health Safety Environment (HSE)
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 41 HSE Health Safety Environment (HSE) Safety Leadership HSE Compliance Vision & Policy HIRA & Life Saving Rules Audits Senior Management Safety Tours ISO 9001, ISO 45001, ISO 14001 National Safety Week COP Documentation HSE Performance review & Rewar
Slide 43: Recognitions - HSE
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 42 HSE Recognitions - HSE MGL has achieved Four Golden Stars more than 672 Days under National Safety without an “Lost Council of India Safety Time Injury Incident” Rating for OHS till April 30, 2025 Management at CGS Platinum Award in “Prashansa Patr
Slide 44: Financials
® MAHANAGAR GAS Financials
Slide 45: Financial Statements
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 44 Financials Financial Statements (₹ crores) Revenue (Net) Gross Margin EBIDTA PAT 1,843 1,289 6,924 2,626 2,466 6,299 6,245 1,510 1,045 1,864 1,184 794 790 1,593 1,053 1,515 1,405 934 924 3,560 620 597 2,972 2,153 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25
Slide 46: Financials
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 45 Financials Financials PARTICULARS UOM FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 Average Sales Realization Rs/SCM 27.27 26.42 32.25 50.20 47.05 46.54 Gas Cost Rs/SCM 12.73 9.22 18.64 35.46 27.33 30.04 Gross Margin Rs/SCM 14.54 17.20 13.61 14.74 19.71 16.5
Slide 47: Balance sheet - MGL
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 46 Financials Balance sheet - MGL (₹ crores) PARTICULARS AS AT 31ST AS AT 31ST PARTICULARS AS AT 31ST AS AT 31ST MARCH 2025 MARCH 2024 MARCH 2025 MARCH 2024 ASSETS EQUITY AND LIABILITIES Non-current Assets 6,313 5,365 Equity 5,889 5,143 Equity Share C
Slide 48: Financials – UEPL – FY25
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 47 Financials Financials – UEPL – FY25 PARTICULARS (₹ IN ASSETS (₹ IN EQUITY AND (₹ IN CRORES) CRORES) LIABILITIES CRORES) Revenue from Operations (Net) 337.57 Non-current Assets 395.93 Equity 97.73 Property, Plant and Equipment 283.68 Equity Share Ca
Slide 49: Subsidiaries, JVs and other Investments
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 48 Financials Subsidiaries, JVs and other Investments Mahanagar LNG Private Limited (MLPL) MGL has invested in 3EV Industries Private subsidiary of the Company was incorporated on Limited (3EV). 3EV is in the business of December 26, 2023. MGL has inv
Slide 50: MGL's diversification play
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 49 Financials MGL’s diversification play Platform Objectives Status GAs to benefit from MGL’s expertise in CGD Acquisition from Ashoka Buildcon and Morgan MGL ramping up the infra buildup - RO and network expansion & customer acquisition. UEPL Sta
Slide 51: Consolidated PAT Reconciliation
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 50 Financials Consolidated PAT Reconciliation (₹ IN CRORES) * GROUP ENTITY SUBSIDIARY / STANDALONE ADJUSTMENTS CONSOLIDATED JOINT VENTURE PAT / ASSOCIATES Holding MGL 1,044.89 - 1,044.89 Company 100% UEPL 21.57 (24.91) (3.33) Subsidiary 51% Joint MLPL
Slide 52: Thank You!
MAHANAGAR GAS LIMITED INVESTOR PRESENTATION 2025 Thank You! MGL House, G-33, Bandra Kurla Complex, Bandra (E) Mumbai – 400 051 T : +91 22 6678 5000 W : https://www.mahanagargas.com CIN : L40200MH1995PLC088133 Contact Runjhun Jain Runjhun.jain1@in.ey.com Avantika Mishra Avantika.mishra@in.ey.com