Taking measures to propel volume growth

Company
25 Jan 2024
5 Min read 
  • Mahanagar Gas Ltd. (MAHGL) reported a 75% YoY increase in EBITDA in 3QFY24.
  •  The company saw an 8% YoY growth in volumes, driven by CNG and I/C-PNG.
  •  CNG growth was fueled by an increase in vehicle conversions and a scheme launched by the company.
  •  I/C PNG growth was driven by high consumption among new customers.
  •  The stock trades at a 30% cheaper valuation compared to IGL with similar growth prospects.
  •  The company expects CNG volumes to be unaffected by petrol price cuts but may consider price cuts if diesel prices decline significantly.
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