Slides
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July - 2026 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 8,477 Kms Pipeline with 519 CNG filing stations Robust Financials 3 years Revenue CAGR 9.39% RoE (FY26): 13.76% Commitment to HSE Strong focus on Health, Safety and Environment Secured Gas Availability APM, NWG, HPHT, Term RLNG Consistent Track Record > 30 years of consistent growth Strong Customer Base CNG 1.31mn Vehicles PNG 3.24mn + 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 7,725 PE Pipeline Length (Km) 752 Steel Pipeline Length (Km) 519 CNG Stations (No) 6,198 Industrial Commercial Customers 13,11,105 CNG Vehicles (No) 32,41,195 PNG Household Connections MGL’s existing Geographical Areas (GA) GAs of erstwhile UEPL
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6 www.mahanagargas.com Infrastructure GA 1 – Mumbai and Greater Mumbai, GA 2 – Thane Urban and Adjoining Municipalities, GA 3 - Raigarh District, GA 4 – Ratnagiri, GA 5 - Latur & Osmanabad & GA 6 - Chitradurga & Davanagere 1,542 1,500 128 26 8 38 GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 Domestic Household Connections in ‘000 Cumulative 3,241 561 152 638 182 35 7527 3335 4916 28 CNG Vehicles CNG Stations GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 CNG Vehicles (‘000) & Stations (Nos.) Cumulative CNG Vehicles – 1,311 CNG Stations - 519 246 3,457 284 3,387 162 374 17 15435 789 275 Steel PE GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 Pipeline (Steel & PE) in Km Cumulative Steel - 752 PE – 7,725 4,061 1,977 59 81 9 11 GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 Cumulative 6,198 Industrial & Commercial Customers – Nos.
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Operational & Financial Performance
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8 www.mahanagargas.com P/L Highlights - Standalone ₹ Crore Net Revenue for Q1 OF FY 26 includes reversal of OMC Trade Margin provided earlier Particulars Q1 FY27 Q1 FY26 YoY Q4 FY26 QoQ Revenues 2,371.71 2,081.38 13.95% 2,051.22 15.62% Gross Profit 639.24 771.67 (17.16%) 570.24 12.10% EBITDA 342.98 500.71 (31.50%) 260.34 31.74% EBIDTA Margins 14.46% 24.06% - 12.69% - PBT 259.07 432.22 (40.06%) 178.48 45.15% PAT 193.70 319.56 (39.39%) 131.92 46.83% EPS Basic and Diluted (₹) Not annualised for the interim periods 19.61 32.35 (39.39%) 13.35 46.83%
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9 www.mahanagargas.com Balance Sheet - Standalone ₹ Crore Particulars As at As at Particulars As at As at 31st March 2026 31st March 2025 31st March 2026 31st March 2025 ASSETS EQUITY AND LIABILITIES Non-current Assets 7,135 6,355 Equity 6,434 5,878 Property, Plant and Equipment 4,674 4,146 Equity Share Capital 99 99 Capital Work-in-Progress (CWIP) 1,259 1,062 Other Equity 6,335 5,780 Right of Use Assets 292 266 Goodwill 11 11 Liabilities Intangible Assets 396 421 Non-current Liabilities 576 532 Financial Assets 242 252 Lease Liabilities 137 163 Other Non-current Assets 260 197 Other Financial Liabilities 2 3 Provisions 63 55 Current assets 1,831 1,929 Deferred Tax Liabilities (net) 374 311 Inventories 63 52 Investments 1,036 1,054 Current Liabilities 1,955 1,874 Trade Receivables 458 363 Lease Liabilities 81 36 Cash and Cash Equivalents 57 152 Trade Payables 476 431 Bank balances other than (iii) above 57 181 Other Financial Liabilities 1,311 1,320 Other Financial Assets 132 100 Other Current Liabilities 63 65 Other current assets 28 27 Provisions 23 20 Income Tax Liabilities (net) 1 3 Total Liabilities 2,531 2,406 Total Assets 8,965 8,284 Total Equity and Liabilities 8,965 8,284 The comparative financial information for FY 2024-25 have been restated to give effect to the amalgamation between MGL and erstwhile UEPL, appointed date being 01.02.2024
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10 www.mahanagargas.com Financial Performance ₹ Crore Net Revenue - PY Q1 includes reversal of OMC Trade Margin provided earlier 2,372 2,0512,081 Q1 FY27Q4 FY26Q1 FY26 Revenues (Net) 629561 763 Q1 FY27Q4 FY26Q1 FY26 Gross Profit (Gas Sales Less Gas Cost) 343 260 501 Q1 FY27Q4 FY26Q1 FY26 EBIDTA & Margins % 194 132 320 Q1 FY27Q4 FY26Q1 FY26 PAT 12.69% 14.46% 24.06%
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11 www.mahanagargas.com Operational Metrics INR/SCM Net Revenue - PY Q1 Revenue includes reversal of OMC Trade Margin provided earlier 54.35 48.4551.02 Q1 FY27Q4 FY26Q1 FY26 Gas Sales Revenues (Net) 39.85 35.1032.20 Q1 FY27Q4 FY26Q1 FY26 Gas Cost 14.5013.35 18.82 Q1 FY27Q4 FY26Q1 FY26 Gross Profit (Gas Sales Less Gas Cost) 7.91 6.19 12.35 Q1 FY27Q4 FY26Q1 FY26 EBIDTA
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12 www.mahanagargas.com Volumes - MMSCMD Total 3.496 3.349 3.185 Q1 FY 27Q4 FY 26Q1 FY 26 CNG 0.623 0.605 0.571 Q1 FY 27Q4 FY 26Q1 FY 26 DPNG 0.648 0.7190.698 Q1 FY 27Q4 FY 26Q1 FY 26 Industrial and Commercial 4.766 4.672 4.454 Q1 FY 27Q4 FY 26Q1 FY 26
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13 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 Domestic PNG offers convenience and highest safety 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 (INR per year) 111.21 111.21 97.83 97.83 86.00 86.00 Jun-26 Jul-26Petrol Diesel CNG 46.87% 12.09% 46.87% 12.09% 159.16 161.45 120.50 122.23 Jun-26 Jul-26Commercial LPG PNG 11,298 11,298 11,154 11,154 Jun-26 Jul-26 Domestic LPG Domestic PNG 3,624 3,572 3,624 3,572 Jun-26 Jul-26 Commercial LPG Commercial PNG
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14 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 and NWG allocation and balance from Market determined price Term & SPOT Non-Priority Segment • Gas for I&C - Market determined price Term & SPOT 73.34% 13.07% 3.28% 10.31% Sales Volume Composition – Q1 FY 27 CNG Domestic Commercial Industrial
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15 www.mahanagargas.com Shareholding, Dividend and Market Capitalisation GAIL 32.50% Government of Maharashtra 10.00% FPIs/NRIs 23.21% Domestic Institutional Investors 22.53% Public, IEPF, Others 11.76% Final Dividend of Rs.18/Share declared by Board included above subject to Shareholders approval at AGM 23 25 26 30 30 30 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 Dividend Per Share (Rs) 13,700 14,651 12,793 11,222 9,164 11,597 Mar-25 Jun-25 Sep-25 Dec' 25 Mar-26 Jun-26 Market Capitalisation (Rs cr.)
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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