Mahanagar Gas Q4 Review - Lockdown Delays Recovery; Near-Term Headwinds Prevail: Motilal Oswal

Mahanagar gas filling station. (Source: BloombergQuint)

Mahanagar Gas Q4 Review - Lockdown Delays Recovery; Near-Term Headwinds Prevail: Motilal Oswal

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Motilal Oswal Report

Mahanagar Gas Ltd. reported numbers in line with estimates.

Total sales volumes were up 4% YoY/QoQ to 2.9 million metric standard cubic meter per day (versus pre-Covid-19 levels of 3mmscmd in Q4 FY19); Ebitda/standard cubic meter stood at Rs 12.1.

The lockdowns due to the second wave, which commenced on April 15 in Maharashtra, have adversely impacted compressed natural gas volumes (1.43mmscmd; down 28.5% versus Q4 FY21) and piped natural gas volumes (0.89mmscmd; flat versus Q4 FY21) – as per data on May 22, 2021.

Click on the attachment to read the full report:

Motilal Oswal Mahanagar Gas Q4FY21 Result Update.pdf

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