 |
Analyst Meet / AGM
31-Jan-19
|
|
|
|
|
|
|
|
Conference Call
|
|
|
|
Mahanagar Gas
|
|
Sustainable volume growth to be around 6-7%
|
|
|
|
|
|
Mahanagar Gas held a conference call to discuss the results for the quarter ended December 2018 and way forward. Managing Director- Mr. Sanjib Datta and CFO Mr. Sunil Ranade along with Senior Vice President Commercial -Mr.Rajesh Wagle, of the company addressed the call.
Highlights of the Concall
- Net sales increased 29.5% to Rs 752.68 crore in Q3FY19 compared to Q3FY18 while Net profit was up 19.6% to Rs 148.32 crore compared to Q3FY18. Net sales was up 25.7% in 9MFY19 to Rs 2068.53 crore while net profit was up 10.7% to Rs 412.94 crore
- Total volumes were up 8.1% YoY in Q3FY19 to 272.5 SCM million. CNG volumes increased 8.3% YoY to 199.83 SCM million while PNG volumes rose 7.5% YoY to 72.68 SCM million.
- Volume growth during the quarter was almost flat compared to previous quarter on account of 15 day strike by cab- aggregators, and reduced consumption of CNG in vacations season
- For 9MFY19 Total volumes were up 9.8% YoY to 806.22 SCM million. CNG volumes increased 10% YoY to 593.37 SCM million while PNG volumes rose 9.2% YoY to 212.85 SCM million.
- Domestic PNG domestic grew 13.3% YoY to 35.54 SCM million in Q3FY19 while PNG industrial volumes rose 2.5% YoY to 37.14 SCM million.
- For 9MFY19 Domestic PNG domestic grew 11.1% YoY to 102.34 SCM million while PNG industrial volumes rose 7.6% YoY to 110.51 SCM million.
- The company expects much of the anticipated gas demand would come from retail segment or the CGD sector.
- Favourable policy guidelines, frameworks and guideline in terms of CGD footprint expansion, mission PNG, smart cities, green corridors etc would boost the natural gas distribution sector aided by recently concluded 9 th round of CGD bidding where 86 geographical areas offered CGD bidding witnessed very enthusiastic participation amongst industry players. Ongoing 10th round of CGD bidding would offer 50 additional geographical areas covering 124 districts. Furthermore OEM fitted CNG variants of cars are launched by automobile companies. Also NITI Aayog has laid out plans to add additional gas pipeline network of over 10000 kilometers to the existing pipeline network of about 16500 kilometers and increase the coverage of City Gas Distribution and CNG network to about 326 cities and towns by 2022 to maximize the reach of natural gas across the country.
- During this quarter, MGL was able to connect more than 26,286 domestic households and have today more than 1 million connected household customers
- The company has added over 77 industrial and commercial consumers and thus as on date, it has over 3700 industrial and commercial customers. It is now operating 224 CNG stations, supplying CNG to more than 672,000 vehicles and its aggregate of steel and PE pipeline network stands at 5,181 kilometers.
- In Raigad geographical area, connectivity has been established to supply gas to about 3,311 domestic PNG consumers in Uran and other adjoining areas, Gas supply to major towns in the geographical area like Pen, Ulve, Karjat etc., is being planned through the virtual pipeline. In January 2019 the company has received critical permissions from various authorities for laying the pipeline in the area. During the quarter one CNG station was added making total seven CNG stations are operational in Raigad as on date.
- Gross margin was higher in value terms in the current quarter because of higher volumes in CNG and PNG and better price realization across all customer segments. However in percentage terms it declined to 48.8% in Q3FY19 compared to 53.4% in Q3FY18.
- The company expects capex of Rs 375 crore in FY19.
- The company plans to add 20 stations per annum for next two years. Capex of single station is around Rs 2.25 crore.
- The company expects sustainable volume growth to be around 6-7%.
|
|
|
|
Previous News |
Mahanagar Gas fixes record date for final dividend
(
Market Beat
-
Reports
31-Jul-24
16:21
)
|
|
|
Mahanagar Gas fixes record date for interim dividend
(
Market Beat
-
Reports
03-Feb-23
11:00
)
|
|
|
MGL Q1 PAT spurts 99% YoY to Rs 368 cr
(
Hot Pursuit
-
04-Aug-23
13:09
)
|
|
|
Board of Mahanagar Gas recommends Interim Dividend
(
Corporate News
-
03-Feb-23
10:22
)
|
|
|
Mahanagar Gas to declare Quarterly Result
(
Corporate News
-
28-Apr-23
11:40
)
|
|
|
Mahanagar Gas to conduct board meeting
(
Corporate News
-
27-Jul-23
10:47
)
|
|
|
Mahanagar Gas appoints company secretary and compliance officer
(
Corporate News
-
09-Feb-21
18:20
)
|
|
|
Mahanagar Gas firms up after good Q2 performance
(
Hot Pursuit
-
13-Nov-19
12:07
)
|
|
|
Mahanagar Gas
(
Analyst Meet / AGM
-
Conference Call
02-Aug-18
19:47
)
|
|
|
Mahanagar Gas announces board meeting date
(
Corporate News
-
12-May-21
10:23
)
|
|
|
Mahanagar Gas
(
Analyst Meet / AGM
-
Conference Call
11-Aug-17
18:41
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|