OMCs’ Q1 FY26 performance could be stronger driven by higher GRM/marketing margins and lower LPG under recovery.
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City gas distribution Ebitda margins (Rs/scm) may improve QoQ due to fall in input (long term) gas cost linked to crude prices; Indraprastha Gas and Mahanagar Gas are likely to continue to show strong YoY volume growth. For utilities, volumes could show marginal improvement QoQ.