Annual Report for the FY 2025-26

Ref: MGL/CS/SE/2026/716 Date: August 03, 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: Notice of the 31st Annual General Meeting of the Company and Integrated Annual Report for the FY 2025-26 Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), we are submitting herewith the Notice of the 31st Annual General Meeting (‘AGM’) along with the Integrated Annual Report of the Company for the FY 2025-26 (collectively referred to as ‘Annual Report’) which is being sent to the Shareholders through electronic mode whose e- mail addresses are registered with the Company / Registrar and Share Transfer Agent (‘RTA’) / Depository Participants (‘DPs’) as on Friday, July 24, 2026. Further, in compliance with Regulation 36(1)(b) of the Listing Regulations, a letter has been sent to the Shareholders whose e-mail addresses are not registered with the Company / RTA / DPs providing the weblink and QR code along with the path to access the Annual Report on the Company’s website. Web-links for accessing the Annual Report Notice of 31st AGM Click Here Annual Report for FY 2025-26 Click Here Information at glance Day, Date and Time of AGM Tuesday, August 25, 2026, 03:00 p.m. (IST) Mode Video Conference / Other Audio Video Means Record date for Final Dividend Tuesday, August 18, 2026 Cut-off date for e-voting Tuesday, August 18, 2026 Remote e-voting start date and time Saturday, August 22, 2026, 9.00 a.m. (IST) Remote e-voting end date and time Monday, August 24, 2026, 5.00 p.m. (IST) You are requested to take the above information on your records. Yours sincerely, For Mahanagar Gas Limited Atul Prabhu Company Secretary & Compliance Officer Encl.: As above Regd. Office: MGL House, Block G-33, Bandra - Kurla Complex, Bandra (East), Mumbai - 400 051 T + 91 22 6678 5000 | E info@mahanagargas.com | W www.mahanagargas.com | CIN L40200MH1995PLC088133 An ISO 9001, 14001 & 45001 Certified Company Mahanagar Gas Limited Annual Report 2025-26 Growing Footprints. Powering Tomorrow. Energy. Expansion. Excellence. Davanagere Ratnagiri Chitradurga Latur Dharashiv Raigad Mumbai Thane In an evolving energy landscape shaped by shifting As we extend access to cleaner energy solutions, our growing footprint is reflected in the steady expansion of our network and customer base. The commissioning of our 500th CNG station at demand dynamics, urbanization and the imperative Chiplun in Ratnagiri district and successful merger of Unison Enviro Private Limited, a wholly for cleaner fuels, MGL continues to strengthen its role owned subsidiary with the Company, mark significant milestones, reinforcing our efforts to make as a reliable partner in India’s energy transition. Amid clean and affordable mobility accessible to more communities. Every new connection, pipeline and station enhances our ability to serve a wider consumer base while supporting the country's periodic constraints in LPG availability and the growing transition towards a lower-carbon economy. need for efficient last-mile energy delivery, accelerating PNG connections—particularly in areas already served by Yet powering tomorrow requires more Excellence remains embedded in everything As we look ahead, MGL remains pipeline infrastructure—remains central to enabling faster, than an expanding presence; it calls for we do. From safety and operational reliability focused on broadening its an unwavering focus on the principles to customer centricity and service quality, safer and more sustainable energy adoption. reach responsibly, delivering that define our operations. Through a we remain focused on delivering consistent robust distribution network, we ensure value and maintaining the highest standards excellence at every touchpoint uninterrupted access to natural gas, across our operations. and creating long-term value. helping customers adopt more efficient fuel Together, we are building the Beyond business performance, we are Growing Footprints. solutions. At the same time, our investments equally committed to creating a meaningful infrastructure, connections in infrastructure and market development create new opportunities to serve emerging social impact through initiatives that advance and capabilities that will power accessibility, community development and demand across our operating areas. tomorrow's energy ecosystem Powering Tomorrow. inclusive progress. and contribute to a more resilient future for generations to come. Energy. Expansion. Excellence. Corporate Statutory Financial Overview Reports Statements Contents Approach to Integrated Reporting Introduction to the Report Our Capitals Corporate Overview This Integrated Report of Mahanagar Gas The Company’s value creation is articulated through six capitals that form the foundation 04 About the Company Limited (MGL) presents a comprehensive of its integrated thinking and decision-making approach. 08 Our Journey view of how the Company creates and 10 Leadership Excellence sustains value over time. It outlines the 12 Chairman Message interplay between strategy, operations, 16 Managing Director Message governance and performance, while 20 Board of Directors Financial Capital reflects the strength of Manufactured Capital represents the reflecting the evolving external environment 24 Corporate Information cash flows, disciplined capital allocation Company’s CGD infrastructure including in which the Company operates. 25 Guiding the Journey and prudent financial management pipelines, CNG stations and associated 28 MGL at Glance For FY 2025–26, the Report captures both supporting business expansion. assets that enable reliable energy 30 Our products and Infrastructure financial and operational performance, distribution. 32 Geographical Expansion and Synergy providing a balanced perspective on 38 Value Creation Model 40 Risk Management operational progress, capital allocation 44 Stakeholder Engagement and stakeholder engagement. It reflects 46 ESG Goals Strategy and Roadmap how MGL continues to expand its core Intellectual Capital includes technical Human Capital highlights the skills, 48 Materiality Matters City Gas Distribution (CGD) network expertise, process efficiencies, digital experience and capabilities of the workforce 49 Investment Case while exploring opportunities in cleaner initiatives and operational knowledge that support safe and efficient operations. 50 Our Investments and Partnerships energy solutions. developed over the years. 52 Sustainable Value Creation 53 Awards and Accolades 54 Financial Capital 60 Manufactured Capital About the Cover Reporting Frameworks 78 Intellectual Capital The cover captures the Company's expanding role in India's The Annual Report of FY 2025-26 has been Social and Relationship Capital captures Natural Capital reflects the Company’s role 8 94 2 H Sou cm iaa ln a C nda p Ri eta lal tionship Capital clean energy transition. A continuous pipeline links homes, developed in line with the following: the Company’s engagement with in promoting cleaner fuels, improving urban customers, communities, regulators and air quality and managing environmental 126 Natural Capital industries and transport, reflecting the Company's integrated • The Companies Act, 2013; partners, contributing to trust and long- impacts responsibly. city gas network. 02 term relationships. • Indian Accounting Standards; The interconnected maps highlight its growing footprint across multiple geographical areas, while the evolving energy ecosystem • The Securities and Exchange Board Statutory Reports signifies diversification into cleaner energy solutions beyond of India (Listing Obligations and conventional natural gas. Together, the imagery embodies D [Showing first 8,000 characters — download PDF for full document]