Slides
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J u l y - 2025 INVESTOR PRESENTATION
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2 www.mahanagargas.com Safe Harbor This presentation may contain statements which reflect the management’s current views and estimates and could be construed as forward-looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Potential risks and uncertainties include such factors as general economic conditions, competitive product and pricing pressures and regulatory developments.
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MGL : An Introduction
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4 www.mahanagargas.com Infrastructure Exclusivity/Reach Over 7,539 Kms Pipeline with 385 CNG filing stations Robust Financials 3 years Revenue CAGR 24.82% RoE (FY25): 18.94% Commitment to HSE Strong focus on Health, Safety and Environment Secured Gas Availability APM, HPHT, Term RLNG Consistent Track Record > 30 years of consistent growth Strong Customer Base CNG 1.13mn + Vehicles PNG 2.85mn + households One of the largest CGD Companies in India
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5 www.mahanagargas.com 47,96,180 Urban Households 45,691 Area (sq Km) Areas of Operation 7,284 PE Pipeline Length (Km) 690 Steel Pipeline Length (Km) 471 CNG Stations (No) 5,224 Industrial Commercial Customers 11,90,938 CNG Vehicles (No) 28,91,432 PNG Household Connections Existing MGL’s Geographical Area (GA) Newly Acquired GA’s of UEPL
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6 www.mahanagargas.com Infrastructure – MGL 1,403 1,350 97 GA 1 GA 2 GA 3 Domestic Household Connections in ‘000 Cumulative 2,850 525 152 581 168 28 65 CNG Vehicles CNG Stations GA 1 GA 2 GA 3 Cumulative CNG Vehicles – 1,133 CNG Stations - 385 CNG Vehicles (‘000) & Stations (Nos.) 3,539 1,585 37 GA 1 GA 2 GA 3 Cumulative 5,161 Industrial & Commercial Customers 244 3,365 267 3,183 140 339 Steel PE GA 1 GA 2 GA 3 Pipeline (Steel & PE) in Km Cumulative Steel – 652 PE – 6,887
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7 www.mahanagargas.com Infrastructure – UEPL 24 4 14 Ratnagiri Latur & Osmanabad Chitradurga & Davanagere Domestic Household Connections in ‘000 Cumulative 42 CNG Vehicles (‘000) & Stations (Nos.) 9 141 23 62 6 194 Steel PE Ratnagiri Latur & Osmanabad Chitradurga & Davanagere Pipeline (Steel & PE) in Km Cumulative Steel – 38 PE – 397 56 3 4 Ratnagiri Latur & Osmanabad Chitradurga & Davanagere Industrial & Commercial Customers Cumulative 63 21 2725 35 11 24 CNG Vehicles CNG Stations Ratnagiri Latur & Osmanabad Chitradurga & Davanagere Cumulative CNG Vehicles - 57 CNG Stations - 86
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Operational & Financial Performance
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9 www.mahanagargas.com Particulars Q1 FY26 Q1 FY25 YoY Q4 FY25 QoQ Revenues 1,975.92 1,589.63 24.30% 1,864.85 5.96% Gross Profit 739.55 629.92 17.40% 651.57 13.50% EBITDA 485.36 418.48 15.98% 378.37 28.28% EBIDTA Margins 24.56% 26.33% - 20.29% - PBT 437.77 383.69 14.09% 339.08 29.11% PAT 324.32 284.53 13.98% 252.19 28.60% EPS 32.83 28.80 14.00% 25.53 28.60% P/L Highlights - MGL ₹ Crore Net Revenue (CY Q1 & PY Q4) with reversal of Trade Margin provided earlier
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10 www.mahanagargas.com Balance Sheet - MGL As at As at As at As at 31st March 2025 31st March 2024 31st March 2025 31st March 2024 ASSETS EQUITY AND LIABILITIES Equity 5,889 5,143 Non-current Assets 6,313 5,365 Equity Share Capital 99 99 Property, Plant and Equipment 4,104 3,543 Other Equity` 5,790 5,044 Capital Work-in-Progress (CWIP) 974 774 Financial Assets 1,070 915 Liabilities Other Non-current Assets 165 133 Non-current Liabilities 474 413 Financial Liabilities 138 119 Current assets 1,891 1,861 Provisions 55 45 Inventories 49 40 Deferred Tax Liabilities (net) 277 244 Investments 1,054 1,019 Other Non-current Liabilities 4 5 Trade Receivables 346 280 Cash and Cash Equivalents 134 103 Current Liabilities 1,840 1,670 Bank balances other than above 181 296 Lease Liabilities 29 23 Other Financial Assets 105 102 Trade Payables 415 334 Other current assets 22 21 Other Financial Liabilities 1,310 1,242 Other Current Liabilities and Provisions 64 54 Provisions 19 14 Income Tax Liabilities (net) 3 3 Total Liabilities 2,315 2,083 Total Assets 8,204 7,226 Total Equity and Liabilities 8,204 7,226 ₹ Crore
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11 www.mahanagargas.com Financial Performance - MGL PAT ₹ Crore 1590 1865 1976 Q1 FY25 Q4 FY25 Q1 FY26 24% 6% Revenues (Net) 624 646 734 Q1 FY25 Q4 FY25 Q1 FY26 11% 6%13.6% 17.6% Gross Profit (Gas Sales Less Gas Cost) 418 378 485 Q1 FY25 Q4 FY25 Q1 FY26 26.3% 20.3% 24.6% EBIDTA & Margins 285 252 324 Q1 FY25 Q4 FY25 Q1 FY26 Net Revenue (CY Q1 & PY Q4) with reversal of Trade Margin provided earlier
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12 www.mahanagargas.com Operational Metrics - MGL INR/SCM EBIDTA 45.27 49.41 51.34 Q1 FY25 Q4 FY25 Q1 FY26 Revenues (Net) 27.24 32.01 32.00 Q1 FY25 Q4 FY25 Q1 FY26 Gas Cost 17.94 17.26 19.22 Q1 FY25 Q4 FY25 Q1 FY26 Gross Profit (Gas Sales Less Gas Cost) 11.92 10.02 12.61 Q1 FY25 Q4 FY25 Q1 FY26 Net Revenue (CY Q1 & PY Q4) with reversal of Trade Margin provided earlier
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13 www.mahanagargas.com Volumes 2.772 2.934 2.981 0.547 0.590 0.5690.539 0.670 0.6793.858 4.194 4.229 Q1 FY 25 Q4 FY 25 Q1 FY 26 CNG Domestic I&C Total MGL 0.157 0.189 0.204 0.002 0.003 0.0020.167 0.207 0.225 Q1 FY 25 Q4 FY 25 Q1 FY 26 CNG Domestic I&C Total UEPL 2.929 3.123 3.185 0.549 0.592 0.5710.547 0.686 0.6984.026 4.401 4.454 Q1 FY 25 Q4 FY 25 Q1 FY 26 CNG Domestic I&C Total MGL + UEPL
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14 www.mahanagargas.com Attractive Fuel Economics - MGL • Price Advantage • Natural gas provides economic benefits over most alternative liquid fuels • Fuel Efficiency • CNG vehicles typically enjoy higher fuel efficiency • Payback Period of Vehicle • Lower running costs result in lower payback period and savings Benefits of CNG / PNG CNG is price competitive compared to alternatives Commercial PNG is favourably priced vs. alternate fuels Despite being expensive, domestic PNG offers convenience INR/kg INR/SCM Note: (1) Mileage of CNG LCV – 10 km/ kg, Diesel LCV – 10 km/ ltr (2) Mileage of CNG Car – 26 km/kg, Petrol car – 18 kms/ ltr INR/kg INR/Ltr INR/Ltr (INR per year) (INR per MMBTU) Assuming 12 cylinders per year 103.5 103.5 90.0 90.0 80.0 80.0 Jun-25 Jul-25 Petrol Diesel CNG 47% 11% 47% 11% 89.42 88.13 60.93 60.05 Jun-25 Jul-25 Commercial LPG PNG 10,511 10,511 10,230 10,230 Jun-25 Jul-25 Domestic PNG Domestic LPG 1,780 1,806 1,978 2,007 Jun-25 Jul-25 Commercial PNG Commercial LPG
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15 www.mahanagargas.com Diversified Sourcing Strategy Priority Segment Forms Majority • Distribution - Majority of MGL’s sales are from CNG and D-PNG • Gas for D-PNG - 100% APM allocation is available • Gas for CNG – Partially from APM allocation and balance from Market determined price Term & SPOT Non-Priority Segment • Gas for I&C - Market determined price Term 70.50% 13.45% 3.23% 12.82% Sales Volume Composition - Q1 FY 26 CNG DPNG Commercial Industrial
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16 www.mahanagargas.com Shareholding, Dividend and Market Capitalisation Final Dividend (FY25) of Rs.18/Share declared by Board included above 20 23 25 26 30 30 15 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 Normal Special Dividend Per Share (Rs) 13,474 15,774 19,167 12,687 13,700 14,651 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Market Capitalisation (Rs cr.) GAIL 32.5% Government of Maharashtra 10.0% FPIs/NRIs 25.48% Domestic Institutional Investors 22.52% Public, IEPF, Others 9.50%
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Thank You! MGL House, G-33, Bandra Kurla Complex, Bandra (E) Mumbai – 400 051 T +91 22 6678 5000 https://www.mahanagargas.com CIN : L40200MH1995PLC088133 Contact to : Runjhun Jain | Runjhun.jain1@in.ey.com Avantika Mishra | Avantika.mishra@in.ey.com