Mahanagar Gas Ltd (NSE:MGL)

Q3 2026 Mahanagar Gas Ltd Earnings Call Transcript

Feb 9, 2026 / 10:30 AM GMT

Release Date Price: ₹1181.2 (+2.48%)

Transcript

Key Points

Positve

Mahanagar Gas Ltd (BOM:539957) connected 124,908 domestic households this quarter, bringing the total to nearly 3.07 million households.
The company added 6 new CNG stations, increasing the total to 491 stations as of December 31, 2025.
Sales volume increased by 7.19% year-over-year, with CNG sales rising by 5.92% and domestic PNG sales by 9.04%.
EBITDA for the quarter was INR 352 crore, up from INR 338 crore in the previous quarter.
The board approved an interim dividend of 120%, equating to INR 12 per equity share.

Negative

CNG volume growth was moderated to around 6% this quarter, partly due to a pipeline damage incident.
The transition of BEST buses from CNG to electric has reduced CNG demand in Mumbai.
Challenges in acquiring land for new CNG stations in Mumbai have limited expansion.
Henry Hub gas prices have risen, impacting cost management despite efforts to optimize sourcing.
The company faces uncertainties in gas sourcing due to geopolitical dynamics and fluctuating indices.

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

MGAS.NS - Mahanagar Gas Ltd
Q3 2026 Mahanagar Gas Ltd Earnings Call
Feb 09, 2026 / 10:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Mahanagar Gas Limited Q3 and 9 months at 526 earnings conference call.

As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing, then 0 on the touchstone phone. Please note that this conference is being recorded.

I now hand the conference over to Mr. Sudeep Anan from Systematic Institutional Equities.

Thank you and over to you, sir.

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Unidentified_2 [2]
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