Analyst/Institutional Investors Meeting
Analyst/Institutional Investors Meeting pursuant to Regulation 30 of SEBI (LODR) Regulations, 201512-04-2017
12-04-2017
Analyst/Institutional Investors Conference Call
Intimation of Schedule of Analyst/Institutional Investors Conference Call pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.10-04-2017
Mahanagar Gas (MGL): expansion plans as governments champion cleaner fuel
The Indian government has been looking to increase the share of natural gas in its energy mix to 15% by 2020, an ambitious target to meet considering that this stands at 6.5% today. This push towards natural gas - including the tax cuts to encourage wider use in homes, small shops and transport - is set to boost companies like Mahanagar Gas Litd (MGL), which is promoted by GAIL. MGL is one of India’s largest players in city gas distribution, and the dominant and only authorised distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and Raigad. It also delivers to areas adjoining the city. It has 195 CNG stations which it plans to expand to 270. Higher petrol and diesel prices help MGL, as natural gas emerges as a cheaper, cleaner alternative to these fuels. The risk for MGL however remains in its margins, which have fallen since FY12, and this doesn't leave the company with much bandwidth to increase prices in a price-senstive, consumer market where customers are often on the lookout for cheaper alternatives. The company's return ratios - ROCE and ROE - peaked in FY12, and since then ROCE has fallen from 40% to 28%. But the broad policy push towards cleaner fuel alternatives, bodes well for MGL. State governments and Supreme Court rulings are turning focus on pollution levels, with new standards favoring CNG use for public transport including autos and taxis. The government goal of expanding piped natural gas to 10 million more households is ambitious and gives MGL a good growth horizon. While the company experienced a QoQ decline in volume growth in Q3 - the demonetization quarter - the nine month and YoY numbers showed growth, in margins and volumes. The company's key risk is the increase in natural gas prices domestically, or the loss of exclusivity in supplying CNG and PNG. The company's share price is trading above all SMAs - a recent report by Karvy had posted a target price of Rs. 1,006, but the company weathered some negative news coverage over the last week regarding damage to MGL pipes that disrupted gas supply in Mumbai. Photo source: MGL07-04-2017
Intimation Of Schedule Of Analyst/ Institutional Investors Meeting.
Intimation of Schedule of Analyst/ Institutional Investors Meetings pursuant to Regulation of 30 of SEBI(LODR)Regulations,201506-04-2017
Analyst/Investors Meeting
Intimation of schedule of Analyst/Institutional Investors meeting pursuant to Regulation 30 of SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015.22-03-2017
Outcome of Board Meeting
The Board of Directors at its meeting held on Tuesday, March 21, 2017 has re-appointed M/s. Dhananjay V. Joshi & Associates as Cost Auditors of the Company for the financial year 2017-18, subject to approval of remuneration by the Shareholders in the ensuing General Meeting of the Company.22-03-2017
Intimation Of Schedule Of Analyst/Institutional Investors Meetings As Per Regulation 30 Of SEBI (LODR) Regulations, 2015.
Intimation of schedule of Analyst/Institutional investors meetings.15-03-2017
Mahanagar Gas: Strength in the pipeline
Healthy volumes and cost benefits are likely to sustain profit growth12-03-2017
Analyst/Investors Meeting
Intimation of Analyst/Institutional investor pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015.03-03-2017
Intimation of Schedule of Analyst / Institutional Investors Meetings
Mahanagar Gas Ltd has informed BSE regarding "Intimation of Schedule of Analyst / Institutional Investors Meetings".27-02-2017