State-owned Mahanagar Gas Ltd. is on track to achieve 13% volume growth for FY25, which he told Managing Director Ashu Singhal on Thursday to NDTV Profits. Singhal emphasized that MGL had already recorded 11% growth in the first nine months of FY25, and is confident in a good outcome in the fourth quarter.
“We’ve seen 11% growth this year in nine months, so there’s definitely momentum we’ve started picking up. If you’re taking it in the fourth quarter, there could be an additional 1-2% addition, so it could be 5.5% last year and 13% this year,” he said.
Singhal added that the company is aiming to achieve at least double-digit annual growth over the next three years.
“We can see at least double digit growth movements each year for the next three years. In that case, our numbers speak for ourselves in terms of physical growth, and that’s our focus,” he said.
Speaking about the margins of EBITDA (RS/Cubic Meter), the top executives said that MGL led Rs 10 to Rs 12 in FY25, but the numbers could fall the following year.
“In the last five to six years, we have an EBITDA (Rs/Cubic Meter) of Rs 7 to Rs 8. The last fiscal year was pretty good. We had Rs 13 and it was slightly higher than that. We then led the guidance of Rs 10 to Rs 12. Now, perhaps we’ve reduced one number, Re 1, so Rs 9 to Rs 11 could be the new guidance,” he said.
