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Motilal Oswal Report
Mahanagar Gas Ltd.’s Ebitda was higher than estimates due to higher Ebitda/standard cubic meter margin (with improvement in gross margin and decrease in opex), while volumes came in marginally below our estimate.
The company believes that sales volumes are likely to pick up further with the easing of lockdown restrictions and vehicular traffic returning to normalcy and opening up of restaurants, industries, and other businesses that depend on gas.
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