Investor Presentation

Ref: MGL/CS/SE/2026/735 Date: November 04, 2026 Head, Listing Compliance Department Head, Listing Compliance Department BSE Limited National Stock Exchange of India Limited P. J. Towers, Exchange Plaza, Bandra – Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 539957 Symbol: MGL Dear Sir / Madam, Sub: Investor Presentation for Earnings Conference Call on Financial Results and Operational Performance of the Company for the quarter and half year ended September 30, 2026 In continuation to our letter dated October 28, 2026 and pursuant to Regulation 30 and Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the presentation in connection with the Earnings Conference Call with the investors and analysts scheduled to be held today, i.e. November 04, 2026 on the Unaudited Standalone and Consolidated Financial Results and operational performance of the Company for the quarter and half year ended September 30, 2026 is enclosed herewith and is also made available on the website of the Company at www.mahanagargas.com You are requested to take the above information on your records. Thanking you, Yours sincerely, For Mahanagar Gas Limited Atul Prabhu Company Secretary & Compliance Officer Encl: As above INVESTOR PRESENTATION N o v e m b e r - 2 0 2 6 Safe Harbor This presentation may contain statements which reflect the management’s current views and estimates and could be construed as forward-looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Potential risks and uncertainties include such factors as general economic conditions, competitive product and pricing pressures and regulatory developments. www.mahanagargas.com MGL : An Introduction One of the largest CGD Companies in India Consistent Track Record Secured Gas Availability Strong Customer Base > 30 years of consistent growth APM, NWG, HPHT, Term RLNG CNG 1.34mn Vehicles PNG 3.27mn + households Infrastructure Exclusivity/Reach Commitment to HSE Robust Financials Over 8,542 Kms Pipeline with 528 CNG filing Strong focus on Health, Safety and 3 years Revenue CAGR 9.39% stations Environment RoE (FY26): 13.76% www.mahanagargas.com Areas of Operation 45,691 4.8 million Area (sq Km) Urban Households 528 762 7,780 CNG Stations Steel Pipeline PE Pipeline (No) Length (Km) Length (Km) 13,40,629 32,72,624 6,409 CNG Vehicles PNG Household Industrial Commercial (No) Connections Customers MGL’s existing Geographical Areas (GA) GAs of erstwhile UEPL www.mahanagargas.com Infrastructure Domestic Household Connections in ‘000 Industrial & Commercial Customers – Nos. Cumulative 4,163 Cumulative 1,560 1,511 3,273 6,409 2,068 26 8 39 58 93 12 15 GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 Pipeline (Steel & PE) in Km CNG Vehicles (‘000) & Stations (Nos.) 652 Cumulative 3,466 3,410 Cumulative 569 Steel - 762 CNG Vehicles – 1,341 PE – 7,780 CNG Stations - 528 37 28 37 17 77 33 49 32 246 286 164 17 40 9 377 156 88 283 Steel PE CNG Vehicles CNG Stations GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 GA 1 GA 2 GA 3 GA 4 GA 5 GA 6 GA 1 – Mumbai and Greater Mumbai, GA 2 – Thane Urban and Adjoining Municipalities, GA 3 - Raigarh District, GA 4 – Ratnagiri, GA 5 - Latur & Osmanabad & GA 6 - Chitradurga & Davanagere www.mahanagargas.com 6 Operational & Financial Performance P/L Highlights - Standalone ₹ Crore Q2 Q2 Q1 H1 H1 Particulars YoY QoQ YoY FY26-27 FY25-26 FY26-27 FY26-27 FY25-26 Revenues (Net) 2,537.08 2,049.33 23.80% 2,371.71 -6.52% 4,908.79 4,130.71 18.84% Gross Profit 626.79 624.59 0.35% 639.24 1.99% 1,266.02 1,396.26 -9.33% EBITDA 304.76 337.95 -9.82% 342.98 12.54% 647.73 838.66 -22.77% EBIDTA Margins 12.01% 16.49% - 14.46% - 13.20% 20.30% - PBT 187.08 258.01 -27.49% 259.07 38.48% 446.14 690.23 -35.36% PAT 137.04 193.36 -29.13% 193.70 41.35% 330.73 512.92 -35.52% Basic and Diluted (₹) 13.87 19.58 -29.13% 19.61 41.35% 33.48 51.93 -35.52% Not annualised for the interim periods Net Revenue for H1 of FY 26 includes reversal of OMC Trade Margin provided earlier www.mahanagargas.com Balance Sheet - Standalone ₹ Crore As at As at As at As at Particulars 30th September Particulars 30th September 31st March 2026 31st March 2026 2026 2026 ASSETS EQUITY AND LIABILITIES Non-current Assets 7,664 7,135 Equity 6,588 6,434 Property, Plant and Equipment 4,953 4,674 Equity Share Capital 99 99 Capital Work-in-Progress (CWIP) 1,438 1,259 Other Equity 6,489 6,335 Right of Use Assets 400 292 Goodwill 11 11 Liabilities Intangible Assets 383 396 Non-current Liabilities 747 576 Financial Assets 233 242 Lease Liabilities 275 137 Other Non-current Assets 246 260 Other Financial Liabilities 5 2 Provisions 74 63 Current assets 1,850 1,831 Deferred Tax Liabilities (net) 394 374 Inventories 71 63 Investments 892 1,036 Current Liabilities 2,179 1,955 Trade Receivables 570 458 Lease Liabilities 54 81 Cash and Cash Equivalents 42 57 Trade Payables 571 476 Bank balances other than (iii) above 73 57 Other Financial Liabilities 1,348 1,311 Other Financial Assets 171 132 Other Current Liabilities 170 63 Other current assets 30 28 Provisions 31 23 Income Tax Liabilities (net) 5 1 Total Liabilities 2,926 2,531 Total Assets 9,514 8,965 Total Equity and Liabilities 9,514 8,965 The comparative financial information for FY 2024-25 have been restated to give effect to the amalgamation between MGL and erstwhile UEPL, appointed date being 01.02.2024 www.mahanagargas.com Financial Performance ₹ Crore Revenues (Net) Gross Profit (Gas Sales Less Gas Cost) 1,396 4,909 1,266 4,131 2,372 2,537 625 639 627 2,049 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 EBIDTA & Margins % PAT 20.30% 839 13.20% 513 16.49% 14.46% 12.01% 331 338 343 305 193 194 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 Net Revenue - PY H1 includes reversal of OMC Trade Margin provided earlier www.mahanagargas.com Operational Metrics INR/SCM Gas Sales Revenues (Net) Gas Cost 56.11 55.25 39.85 42.34 41.12 54.35 33.65 32.94 49.59 48.22 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 EBIDTA Gross Profit (Gas Sales Less Gas Cost) 10.13 16.65 14.57 14.50 13.77 14.13 8.00 7.91 7.33 6.77 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY 2026 H1 FY 2027 Net Revenue - PY H1 Revenue includes reversal of OMC Trade Margin provided earlier www.mahanagargas.com Volumes - MMSCMD CNG DPNG 3.255 3.496 3.552 3.220 3.524 0.623 0.639 0.631 0.582 0.576 Q2 FY 26 Q1 FY 27 Q2 FY 27 H1 2025-26 H1 2026-27 Q2 FY 26 Q1 FY 27 Q2 FY 27 H1 2025-26 H1 2026-27 Industrial and Commercial Total 0.757 0.727 0.700 0.674 0.648 4.766 4.892 4.829 4.593 4.524 Q2 FY 26 Q1 FY 27 Q2 FY 27 H1 2025-26 H1 2026-27 Q2 FY 26 Q1 FY 27 Q2 FY 27 H1 2025-26 H1 2026-27 www.mahanagargas.com Attractive Fuel Economics - MGL CNG is price competitive compared Commercial PNG is favourably to alternatives priced vs. alternate fuels 45.64% 45.02% 141.66 142.16 Benefits of CNG / PNG 111.21 10.05% 111.21 9.03% 107.25 102.25 97.83 97.83 88.00 89.00 • Price Advantage • Natural gas provides economic benefits over most alternative liquid fuels Sep-26 Oct-26 Sep-26 Oct-26 • Fuel Efficiency Petrol Diesel CNG Commercial LPG PNG • CNG vehicles typically enjoy higher INR/Ltr INR/Ltr INR/kg INR/kg INR/SCM fuel efficiency Domestic PNG offers convenience (INR per MMBTU) • Payback Period of Vehicle and highest safety 3,180 3,180 3,191 • Lower running costs result in lower 3,031 (INR per year) payback period and savings 11,298 11,369 11,298 11,369 (INR per year) Note: Sep-26 Oct-26 Sep-26 Oct-26 (1) Mileage of CNG LCV – 10 km/ kg, Diesel LCV – 10 km/ ltr Domestic LPG Domestic PNG Commercial LPG Commercial PNG (2) Mileage of CNG Car – 26 km/kg, Petrol car – 18 kms/ ltr Assuming 12 cylinders per year 13 www.mahanagargas.com Di [Showing first 8,000 characters — download PDF for full document]