Mahanagar Gas Q4 Review - Second Wave Affects Demand Recovery: ICICI Direct

A taxi filling gas at Mahanagar Gas station. (Source: BloombergQuint).

Mahanagar Gas Q4 Review - Second Wave Affects Demand Recovery: ICICI Direct


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Direct Mahanagar Gas Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.