Mahanagar Gas Ltd (NSE:MGL)

Q3 2025 Mahanagar Gas Ltd Earnings Call Transcript

Jan 29, 2025 / 11:00 AM GMT

Release Date Price: ₹1267.2 (-0.84%)

Transcript

Key Points

Positve

Mahanagar Gas Ltd (BOM:539957) connected 98,469 domestic households in the quarter, reaching a total of 2.68 million households.
The company added nine CNG stations, bringing the total to 361 stations as of December 31, 2024.
Sales volumes increased across all segments: CNG sales rose by 11.44%, industrial and commercial volumes by 25.52%, and domestic PNG by 7.23%.
EBITDA for the nine months ending December 2024 was INR1,131 crore, with a net profit after tax of INR793 crore.
Mahanagar Gas Ltd announced an interim dividend of 120%, equating to INR12 per equity share for the current financial year.

Negative

The company's margins have been impacted due to delayed price hikes and adjustments in the gas procurement portfolio.
There is uncertainty regarding the implementation of the Mumbai High Court's directive to phase out petrol and diesel vehicles, which could affect future volume growth.
The effective tax rate for the quarter reduced below 20% due to past tax assessments, which may not be sustainable.
The company faces potential risks from foreign exchange fluctuations, as its gas purchases are dollar-denominated and not hedged.
There is a concern about the competitive threat from electric vehicles, which could impact the growth of CNG vehicle adoption.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MGAS.NS - Mahanagar Gas Ltd
Q3 2025 Mahanagar Gas Ltd Earnings Call
Jan 29, 2025 / 11:00AM GMT

=====================
Conference Call Participants
=====================
* Varatharajan Sivasankaran
Antique Stockbroking Limited - Analyst
* Yogesh Patil
Dolat Capital - Analyst
* Amit Murarka
Axis Capital Ltd. - Analyst
* Probal Sen
ICICI Securities Limited - Analyst
* Gagan Dixit
Elara Securities - Analyst
* S Ramesh
Nirmal Bang Equities - Analyst
* Kirtan Mehta
Baroda BNP Paribas Mutual Fund - Analyst
* Pratyush Kamal
InCred Equities - Analyst
* Sabri Hazarika
Emkay Global Financial Services - Analyst
* Saurabh Handa
Citigroup - Analyst
* Neharika Jain
Aequitas Investments - Analyst
* Devang Patel
Sameeksha Capital - Analyst
* Madhur Rathi
Counter Cyclical Investments - Analyst
* Hardik Solanki
ICICI Securities -

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