Mahanagar Gas Ltd
Mahanagar Gas Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #7 of 8 in Gas
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The short version
GA-3 volumes are expected to grow at 15% to 20% in FY'26 and FY'27; possibly up to 30% similar to UEPL. GA-3 volume growth expected at 15%-20% in FY'26 and FY'27, potentially up to 30% similar to UEPL.
From Mahanagar Gas Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- GA-3 volumes are expected to grow at 15% to 20% in FY'26 and FY'27; possibly up to 30% similar to UEPL.
- UEPL volumes expected to grow around 30% annually for the next 2-3 years.
- Overall volume growth guidance for MGL is near double-digit or high single-digit for FY'26.
- Q1 volume growth was 7.5% YoY, slightly slower than earlier quarters but expected to improve in the coming quarters.
- Domestic CNG sales and industrial/commercial sales showed increases of 3.88% and 26.09% YoY respectively in Q1 FY'26.
- Total gas sales volume for the quarter was 4.455 mmscmd, up 9.61% YoY.
2 more points from Mahanagar Gas Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- MGL Core Business and UEPL combined CAPEX for next 2 years: INR 1,100 to 1,300 crores annually.
- GA-3 CAPEX focused on steel trunk lines, city gate stations, and pipelines; additional INR 250-300 crores mainly for trunk lines including UEPL and GA-3.
- Adding 80-85 new CNG stations this year, costing INR 300-350 crores, covering both MGL and UEPL.
- Daughter booster stations are being gradually converted to online stations; three new city gate stations planned within a year.
- IBC Joint Venture first phase cost ~INR 850 crores; MGL's share ~INR 350-380 crores; phased completion by April-June next year.
- CBG project total cost INR 600-650 crores; MGL’s equity contribution about INR 130 crores.
2 more points from Mahanagar Gas Ltd's call on capex
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Top-ranked in Gas
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Mahanagar Gas Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹2.1K Cr, net profit ₹132 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Mahanagar Gas's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
Others in Gas this season
- Gujarat Energy Ltd (Q1 FY26)
. Key concall takeaways from Gujarat Energy Ltd's Q1 FY26 earnings call — and how it ranks against sector peers.
- GAIL (India) (Q1 FY26)
CGD segment growing at ~12% annually, contributing around 3.5 MMSCMD to volumes. Key concall takeaways from GAIL (India) Ltd's Q1 FY26 earnings call — and how…
- Petronet LNG (Q1 FY26)
Dahej terminal throughput showed a 10% QoQ growth; overall volume processed grew 7% QoQ. Key concall takeaways from Petronet LNG Ltd's Q1 FY26 earnings call…
Potential multibaggers · Q2 FY27
Potential multibaggers in Gas
on management's own guidance
- GAIL (India)Moderate growth2
- Aegis LogisticsGood growth1
- Petronet LNGModerate growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Mahanagar Gas Ltd Q1 FY26 results?
GA-3 volumes are expected to grow at 15% to 20% in FY'26 and FY'27; possibly up to 30% similar to UEPL. GA-3 volume growth expected at 15%-20% in FY'26 and FY'27, potentially up to 30% similar to UEPL.
What is Mahanagar Gas Ltd share price analysis?
Mahanagar Gas Ltd currently shows a neutral. The stock trades at a P/E of 15.6 with a market cap of ₹11,248 Cr. Investors should review the full earnings analysis for detailed insights.
Is Mahanagar Gas Ltd planning capital expenditure?
MGL Core Business and UEPL combined CAPEX for next 2 years: INR 1,100 to 1,300 crores annually.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.