Mahanagar Gas Limited (MGL) Earnings Call Transcripts

Mahanagar Gas Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Mahanagar Gas Limited (MGL:IN) reported a net profit after tax of INR 132 crores, down from INR 202 crores in the previous quarter, reflecting the impact of supply disruptions due to geopolitical tensions affecting LNG supplies. Revenue growth was supported by an increase in domestic PNG and CNG connections, with overall sales volume rising by 6.15% year-over-year. Management anticipates a recovery in supply and has signaled a potential for double-digit volume growth in FY '27, driven by increased infrastructure and customer connections.

Reported metrics

Guidance from management

Management signaled a potential for double-digit volume growth in FY '27, driven by increased infrastructure and customer connections. They aim to maintain EBITDA above INR 8 per SCM, but noted that market conditions remain uncertain.

What management said

Commercial, we managed to maintain supplies because many of them were going to critical customers, hospitals, canteens, messes of government institutions, schools, et cetera. It was a large industry where the supply was curtailed a bit.

There were some 10 or 12 customers, industrial customers, for them gas supply was very critical. They had request for you source any market price gas, we are okay. So then we managed to source a small volume separately and that they have to get a premium.

What analysts pressed on

Analysts expressed concerns about the impact of supply disruptions on industrial customer volumes and the ability to pass through increased gas costs to consumers. There were also questions regarding the sustainability of volume growth given operational challenges and labor shortages.

Main topics on the call

• Supply Disruptions Impact — Management highlighted that supply disruptions due to geopolitical crises have affected LNG availability, stating, "Gas supplies to industrial and commercial customers is partly curtailed." This has led to a significant ...
• Volume Growth and Infrastructure Expansion — MGL connected 143,997 domestic households in the quarter, bringing the total to nearly 3.21 million. Management expressed optimism about future growth, stating, "Our guess is if I have clocked 8.25 overall volume growth ...
• Dividend Announcement — The Board approved a final dividend of INR 18 per equity share, leading to a total dividend of INR 30 per share for FY '26. This reflects a commitment to returning value to shareholders despite the challenging operationa...
• Pricing Strategy Amid Cost Increases — Management indicated that recent price hikes in CNG and DPNG have not fully passed on the increased gas costs, with Rajesh Wagle stating, "CNG, yes, since we have taken only INR 1 increase... it's certainly not fully pas...

Read the full Mahanagar Gas Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 24 Mahanagar Gas Limited earnings call transcripts on record, spanning February 10, 2020 to July 31, 2026. Based on this history, Mahanagar Gas Limited reports quarterly. The most recent call on file is dated July 31, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MGL

Exchange

NSEI

Country

IN

Sector

Utilities

Industry

Gas Utilities

Calls on record

24

First call

February 10, 2020

Most recent

July 31, 2026

Reporting cadence

quarterly