Q1 2026 Mahanagar Gas Ltd Earnings Call Transcript
Key Points
- Mahanagar Gas Ltd (BOM:539957) reported a significant increase in net profit after tax for the quarter, reaching INR324 crore, a 29% increase from the previous quarter.
- The company achieved an overall average gas sales increase of 9.61% compared to the corresponding quarter of the previous year.
- EBITDA from operations for the quarter rose to INR485 crore, marking a 28% increase from the previous quarter.
- The company expanded its infrastructure by adding 79.08 kilometers of pipeline and 84 industrial and commercial customers during the quarter.
- Mahanagar Gas Ltd (BOM:539957) successfully added 20,332 CNG vehicles, increasing the total to over 1.1 million CNG vehicles in its operational geography.
- The company experienced a slowdown in CNG volume growth, which decreased to 7.5% from previous double-digit growth rates.
- Operating expenses per unit increased to INR6.6 per HCM, higher than the usual range of 6.1 to 6.2, partly due to increased CSR activities and lease rent.
- The allocation of APM gas for CNG decreased from 47% in the previous quarter to 37%, impacting gas sourcing costs.
- There was a decline in the number of new CNG vehicles added compared to the previous quarter, with 20,300 added in Q1 versus 27,000 in Q4 FY25.
- The company faces challenges in maintaining growth in certain segments, such as the decline in BST volumes from 125,000 kgs per day to 98,000 kgs per day.
Ladies and gentlemen, good day, and welcome to Mahanagar Gas Limited Q1 FY26 earnings conference call, hosted by Emkay Global Financial Services Limited. (Operator Instructions) Please note that this call is being recorded. With this, I now hand the conference over to Mr. Sabri Hazarika. Thank you, and over to you, sir.
Yes. On behalf of Emkay Global Financial Services, I welcome you all to the Q1 FY26 post earnings conference call of Mahanagar Gas Limited. We have with us the top management of the company, led by Mr. Ashu Shinghal, Managing Director; Mr. Sanjay Shende, Deputy Managing Director; Mr. Rajesh Patel, Chief Financial Officer; and Mr. Rajesh Wagle, Senior Vice President, Marketing. Today's session will be a brief on the results, followed by question-and-answer round.
Before we begin, I would like to mention that some of the statements made in today's discussion may be forward-looking in the nature and we believe that expectations contained in the statements are reasonable. However
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