Mahanagar Gas Q4 Results Review - Strong Margins Drive Earnings: HDFC Securities

"BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .HDFC Securities Institutional Equities.Mahanagar Gas Ltd. has maintained its guidance of ~5-6% volume growth compound annual growth rate over the next three-five years.The company added 25 new CNG stations in FY23, taking the count to 313; management expects to add 30-40 new CNG stations in FY24. It also added 115 new industrial/commercial piped natural gas customers in Q4, taking the count to 4,558. 92,274 new domestic households were connected in Q4, taking the count to ~2.17 million household. In Raigadh, Mahanagar Gas has ~68,033 household connections, 28 operational CNG stations and to date has laid ~382 km of pipeline connectivity.Vehicle conversions to CNG in Q4 dipped to ~13,700 vehicles compared to the range of 15,000-17,000 vehicles earlier due to high CNG prices.Mahanagar Gas has incurred a capex of ~Rs 5.8 billion in FY23 and has guided for a capex of Rs 5-6 billion for FY24 and FY25..Click on the attachment to read the full report:.Mahanagar Gas Shares Near 18-Month High After Q4 Profit Beat.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Mahanagar Gas Q4 Results Review - Strong Margins Drive Earnings: HDFC Securities

Volumes came broadly in line.

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Mahanagar Gas Q4 Results Review - Strong Margins Drive Earnings: HDFC Securities

Volumes came broadly in line.

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