Mahanagar Gas Ltd
Mahanagar Gas Q4 FY26 earnings call: Revenue & Margins
Q4 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
MGL expects more than 10% volume growth in FY27, driven mainly by increased domestic PNG connections and pipe gas volumes. Mahanagar Gas expects overall volume growth of around 10% in FY27, driven mainly by accelerated infrastructure laying and increased customer connections in domestic PNG (pipe gas) and CNG segments.
From Mahanagar Gas Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- MGL expects more than 10% volume growth in FY27, driven mainly by increased domestic PNG connections and pipe gas volumes.
- Industrial and commercial (I&C) gas volumes saw curtailment (~20%), but growth potential exists once supply stabilizes.
- CNG vehicle additions remain strong, with no slowdown in recent quarters.
- Infrastructure developments, such as easier pipeline laying permissions and reduced road permissions constraints, support faster customer connections.
- Government regulations mandating PNG connections for LPG users are expected to boost domestic PNG volume growth.
- Though monsoon season may slow infrastructure growth mid-year, overall capacity expansion is expected.
2 more points from Mahanagar Gas Ltd's call on revenue
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Profitability & Margins
See what Mahanagar Gas Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Capex guidance for FY27 is around INR 1,200 crores, potentially a bit higher if feasible.
- Focus on laying pipeline infrastructure and connecting more customers, especially due to increased domestic PNG demand and LPG curtailment.
- Reduction in RI (Right of Way and Infrastructure) costs has reduced overall capex pressure.
- Constraints due to labor supply (plumbers, etc.) and availability of materials might impact execution pace.
- Increased emphasis on faster infrastructure laying enabled by eased permissions and road digging easements.
- Growth opportunities remain high in commercial PNG segments due to high demand and government encouragement.
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 →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 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
- Confidence Petro (Q4 FY26)
EBITDA for the quarter**: ₹465 Crore, up 38% YoY . Key investor presentation takeaways from Confidence Petro's Q4 FY26 investor presentation — and how it ranks
- Energy InfrTrust (Q4 FY26)
Operating expenses have reduced by 4% in FY26 due to lower system use gas (SUG) costs and efficiencies, aiding profitability. Key concall takeaways from Energy…
- Petronet LNG (Q4 FY26)
Third jetty construction: Around INR 600 crores. Key concall takeaways from Petronet LNG's Q4 FY26 earnings call — and how it ranks against sector peers.
- Aegis Logistics (Q4 FY26)
Expansion of ammonia terminals, with capex around INR525 crores per terminal. Key concall takeaways from AEGISLOG's Q4 FY26 earnings call — and how it ranks…
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 Q4 FY26 results?
MGL expects more than 10% volume growth in FY27, driven mainly by increased domestic PNG connections and pipe gas volumes. Mahanagar Gas expects overall volume growth of around 10% in FY27, driven mainly by accelerated infrastructure laying and increased customer connections in domestic PNG (pipe gas) and CNG segments.
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?
Capex guidance for FY27 is around INR 1,200 crores, potentially a bit higher if feasible.
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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.