Mahanagar Gas Limited — Investor Meet, 16-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Mahanagar Gas reported Q3 FY26 net profit of INR 202 crore, with average sales volume at 4.62 MMSCMD, up 7.19% YoY. 9-month EBITDA stood at INR 1,191 crore and PAT at INR 715 crore. The company announced an interim dividend of INR 12 per equity share.

Management aims for double-digit volume growth, optimizing gas sourcing by reducing Henry Hub reliance and increasing Brent-linked and HPHT contracts. Mumbai's CNG growth is muted due to BEST's EV shift and land scarcity, but large new stations are planned. FY27 capex is projected at INR 1,200 crore for GA-2, GA-3, and acquired areas. The company is strategically focused on cost optimization and green initiatives.