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ICICI Direct Report
Mahanagar Gas Ltd.'s results for Q4 FY21 were broadly in line with estimates on the operational front.
Topline increased 4.2% YoY to Rs 784 crore versus our estimate of Rs 772.6 crore.
Sales volume came in at 2.9 million metric standard cubic meter per day, up 3.8% YoY (up 4.4% QoQ) in line with estimate.
Gross margins were marginally better than estimate of Rs 17.5/standard cubic meter at Rs 17.7/scm, up Rs 2.4/scm YoY (flat QoQ).
Ebitda at Rs 316.2 crore (up 29.7% YoY) was slightly below our estimate of Rs 321 crore.
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