Mahanagar Gas Limited — PPTs, 07-05-2025: Investor Presentation

1. Financial Highlights:

Mahanagar Gas Ltd reported Q4 revenues of ₹1,864.85 Cr, up 19% YoY and 6.1% QoQ, with FY25 revenue at ₹6,923.68 Cr, growing 10.88% YoY. Gross profit rose 5.89% QoQ to ₹651.58 Cr for the quarter but declined 6.12% YoY for the year. EBITDA stood at ₹378.38 Cr for the quarter, down 3.91% QoQ and 18.06% YoY for the full year, pressured by margin contraction from 25.13% to 20.29%. PAT was ₹252.19 Cr, down 4.83% QoQ and 18.94% YoY. The balance sheet remains robust with equity at ₹5,889 Cr and total assets of ₹8,204 Cr, reflecting steady capital additions.

2. Strategic Initiatives & Growth Drivers:

MGL is expanding its network with 7,460 km of pipeline and 385 CNG stations, growing its CNG and PNG customer base. Secured gas supply through diverse routes ensures operational stability. Volume growth continues across CNG and domestic PNG, supported by increasing connections, especially after integrating UEPL assets.

3. Business Developments:

Operational integration of UEPL assets added pipeline length, CNG stations, and customers, boosting geographic reach. Increased penetration in industrial and commercial segments supports diversification beyond core retail PNG and CNG. No new acquisitions or partnerships were reported.

4. Market Position & Competitive Advantage:

MGL is one of India’s largest city gas distributors, covering 4.8 million households and 1.14 million+ CNG vehicles. Its scale, exclusive infrastructure, and diversified gas sourcing enable competitive pricing and customer retention. Emphasis on safety and environmental compliance adds differentiation.

5. Investor Implications:

Revenue growth amid margin pressure highlights gas cost challenges, but volume expansion and network build-out provide positive growth potential. Monitoring margin recovery and execution on expansion plans will be key. MGL’s strong market position and supply strategy create a solid moat in a transitioning sector.