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Mahanagar Gas (MGL) investor relations material
Mahanagar Gas Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Amalgamation of Unison Enviro Private Limited (UEPL) effective 1st February 2024 expanded operational reach, with all financials consolidated and restated.
Infrastructure expanded to 8,062 km of pipeline, 485 CNG stations, and 53,566 new domestic connections as of 30th September 2025.
116 new industrial/commercial customers and 27,150 CNG vehicles were added in the quarter, with total CNG vehicles exceeding 1.22 million.
Over 30 years of consistent growth with a strong customer base and robust infrastructure.
Financials reviewed and approved by the Board, prepared in accordance with Indian Accounting Standards.
Financial highlights
Q2 FY26 revenues rose 14.73% year-over-year to ₹2,049.33 crore, but declined 1.54% sequentially.
H1 FY26 revenues increased 19.66% year-over-year to ₹4,130.71 crore.
Q2 FY26 EBITDA from operations was INR 338 crore, down from INR 501 crore in Q1, due to a one-time reversal of OMC trade margins in Q1.
Q2 FY26 PAT fell 32.58% year-over-year to ₹193.37 crore; H1 FY26 PAT down 10.94% to ₹512.93 crore.
EBITDA margin dropped to 16.49% in Q2 FY26 from 23.15% a year ago.
Outlook and guidance
EBITDA per SCM guidance for Q3 is around INR 8.5, with potential improvement in Q4 as new term contracts come into effect.
Full-year margin guidance revised to INR 8.5–9 per SCM, down from previous INR 9.5, reflecting higher gas costs and exchange rate impacts.
Volume growth for FY26 expected to be at least 10%, in line with H1 performance.
No explicit forward-looking guidance provided, but management notes ongoing legal and regulatory matters with no expected outflow of resources.
- TimeTickerHeadlineOpen
- WWD
Q1 FY2026 sales up 29%, EPS up 53%, and guidance raised on strong demand and execution. - HMN
Record core EPS, 57.7% net income growth, and strong outlook signal robust performance. - FTV
2025 results beat guidance, with strong EPS growth and $1.6B in share repurchases. - WNC
Q4 2025 revenue was $321.5M with losses, but Parts & Services grew 33% year-over-year. - AAT
2025 FFO and income declined, but 2026 guidance and liquidity remain strong. - BGL
Tokenized gold coin and fintech platform drive growth, backed by mining and regulatory strength. - WAFD
All proposals passed with strong support; focus remains on innovation, competition, and shareholder value. - AVY
FY25 adjusted EPS up 1% to $9.53, $8.9B sales, and $861M returned to shareholders. - LLY
Q4 2025 revenue rose 43% to $19.3B; 2026 guidance set at $80–$83B revenue. - TKR
Q4 2025 outperformed; 2026 targets higher sales, margins, and EPS amid ongoing transformation.
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