Mahanagar Gas Ltd · NSE:MGL
Mahanagar Gas — Q3 FY2025-26 Earnings Presentation
17 slides from Mahanagar Gas's earnings presentation, Feb 9, 2026
Slide 1: Exchange filing letter for investor presentation
Ref: MGL/CS/SE/2026/678 Date: February 09, 2026 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
Slide 2: Investor Presentation February 2026
INVESTOR PRESENTATION February - 2026
Slide 3: Safe Harbor
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 cause actual results to differ materially from the current views being
Slide 4: MGL: An Introduction
MGL : An Introduction
Slide 5: One of the largest CGD Companies in India
One of the largest CGD Companies in India Consistent Track Record Secured Gas Availability Strong Customer Base > 30 years of consistent growth APM, HPHT, Term RLNG CNG 1.25mn Vehicles PNG 3.07mn + households Infrastructure Exclusivity/Reach Commitment to HSE Robust Financials Over 8,182 Kms Pipelin
Slide 6: Areas of Operation
Areas of Operation 45,691 47,96,180 Area (sq Km) Urban Households 491 717 7,465 CNG Stations Steel Pipeline PE Pipeline (No) Length (Km) Length (Km) 12,49,983 30,69,907 5,618 CNG Vehicles PNG Household Industrial Commercial (No) Connections Customers MGL’s existing Geographical Areas (GA) GAs of ers
Slide 7: Infrastructure
Infrastructure Domestic Household Connections in ‘000 Industrial & Commercial Customers 1,476 3,806 1,425 Cumulative Cumulative 3,070 5,653 1,726 108 26 6 28 49 64 3 5 GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 CNG Vehicles (‘000) & Stations (Nos.) Pipeline (Steel & PE) in Km 609 3,
Slide 8: Operational & Financial Performance
Operational & Financial Performance
Slide 9: P/L Highlights - Standalone
P/L Highlights - Standalone ₹ Crore Particulars Q3 Q3 YoY Q2 QoQ Nine Nine YoY FY25-26 FY24-25 Variance FY25-26 Variance Months Months Variance % % FY25-26 FY24-25 % Revenues (Net) 2,058.27 1,846.72 11.46% 2,049.33 0.44% 6,188.99 5,298.73 16.80% Gross Profit 642.52 579.23 10.93% 624.59 2.87% 2,038.7
Slide 10: Balance Sheet - Standalone
Balance Sheet - Standalone ₹ Crore Particulars As at As at Particulars As at As at September 30, 2025 March 31, 2025 September 30, 2025 March 31, 2025 ASSETS EQUITY AND LIABILITIES Non-current Assets 6,828 6,355 Equity 6,417 5,878 Property, Plant and Equipment 4,388 4,146 Equity Share Capital 99 99
Slide 11: Financial Performance
Financial Performance ₹ Crore Revenues (Net) Gross Profit (Gas Sales Less Gas Cost) 6189 1881 2014 5299 1847 2049 2058 572 616 636 Q3 FY25 Q2 FY26 Q3 FY26 Nine months Nine months Q3 FY25 Q2 FY26 Q3 FY26 Nine months Nine months ended FY25 ended FY26 ended FY25 ended FY26 EBIDTA & Margins PAT 22.18% 1
Slide 12: Operational Metrics
Operational Metrics INR/SCM Revenues (Net) Gas Cost 46.57 48.49 48.42 46.08 49.40 31.84 33.65 33.22 33.03 29.43 Q3 FY25 Q2 FY26 Q3 FY26 Nine months Nine months Q3 FY25 Q2 FY26 Q3 FY26 Nine months Nine months ended FY25 ended FY26 ended FY25 ended FY26 Gross Profit (Gas Sales Less Gas Cost) EBIDTA 16
Slide 13: Volumes - MMSCMD
Volumes - MMSCMD CNG DPNG 3.255 3.281 3.241 3.098 3.022 0.604 0.586 0.554 0.582 0.545 Q3 FY 25 Q2 FY 26 Q3 FY 26 Nine months Nine months Q3 FY 25 Q2 FY 26 Q3 FY 26 Nine months Nine months ended FY25 ended FY26 ended FY25 ended FY26 Industrial and Commercial Total 0.757 0.735 0.730 0.659 4.593 4.620
Slide 14: Attractive Fuel Economics - MGL
Attractive Fuel Economics - MGL CNG is price competitive compared Commercial PNG is favourably to alternatives priced vs. alternate fuels 46.56% 46.23% 81.16 80.61 Benefits of CNG / PNG 10.03% 58.37 57.98 103.50 103.50 10.59% 90.03 90.03 81.00 80.50 • Price Advantage • Natural gas provides economic
Slide 15: Diversified Sourcing Strategy
Diversified Sourcing Strategy Sales Volume Composition – Q3 FY 26 Priority Segment Forms Majority • Distribution - Majority of MGL’s sales are from CNG and D-PNG • Gas for D-PNG - 100% APM allocation is available • Gas for CNG – Partially from APM allocation and balance from Market determined price
Slide 16: Shareholding, Dividend and Market Capitalisation
Shareholding, Dividend and Market Capitalisation Dividend Per Share (Rs) 15 26 30 30 23 25 20 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 Normal Special Note : Interim dividend declared ₹12 per share for FY 26 Market Capitalisation (Rs cr.) 19,167 32.50% 10.00% 25.51% 15,774 13,700 14,651 GAIL Government of
Slide 17: Thank You!
Thank You! MGL House, G-33, Bandra Kurla Complex, Bandra (E) Mumbai – 400 051 T +91 22 6678 5000 https://www.mahanagargas.com CIN : L40200MH1995PLC088133 Contact to : Runjhun Jain | Runjhun.jain1@in.ey.com Avantika Mishra | Avantika.mishra@in.ey.com