Mahanagar Gas Limited — Investor Meet, 30-07-2025: Analysts/Institutional Investor Meet/Con. Call Updates

MGL's Q1 FY26 saw gas sales rise 9.61% YoY to 4.229 mmscmd, with CNG up 7.54% and Industrial/Commercial up 26.09%. Profit after tax jumped 29% to INR 324 Cr. The UEPL merger received NCLT approval, expected effective by mid-August. Management plans core CAPEX of INR 1,100-1,300 Cr for next two years, along with investments in a CBG plant (INR 130 Cr MGL equity) and battery venture (INR 375 Cr MGL equity). Despite a slight slowdown in CNG volume growth, the outlook remains positive with high single-digit growth expected.