Mahanagar Gas Q4 FY26 results (Jan–Mar 2026) and concall

Oil, Gas & Consumable Fuels · Concall AI · Call held 8 May 2026

Company page: Mahanagar Gas share price, financials & guidance record

Mahanagar Gas reported a mixed Q4 FY26, with strong volume growth across segments, particularly in industrial and commercial, and significant progress in infrastructure expansion. However, profitability saw a decline both QoQ and YoY, primarily impacted by supply disruptions from the West Asia crisis and the inability to fully pass on increased gas costs for CNG. The company remains optimistic about future volume growth driven by regulatory support and LPG conversion, while aiming to maintain EBITDA per SCM above INR8.

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What they filed

Q4 FY26: revenue up 4.5%, net profit down 45.5% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26
Revenue	1,786	1,758	1,963	2,081	2,049 +15%	2,058 +17%	2,051 +4%
Expenses	1,373	1,443	1,568	1,581	1,711	1,706	1,791
EBITDA	413	314	395	501	338 −18%	352 +12%	260 −34%
Margin	23%	18%	20%	24%	16%	17%	13%
Other income	47	46	42	32	29	29	29
Interest	3	3	4	4	5	6	5
Depreciation	84	79	95	96	104	103	106
Profit before tax	373	278	338	432	258 −31%	272 −2%	178 −47%
Tax rate	23%	19%	28%	26%	25%	26%	26%
Net profit	287	225	242	320	193 −33%	202 −10%	132 −45%
EPS	29.03	22.82	24.53	32.35	19.58	20.45	13.36

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.

What they filed

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