MGL2019-04-012019-06-30in-bse-fin:OneOperatingExpenses01Member MGL2019-04-012019-06-30in-bse-fin:OneOperatingExpenses02Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares MGL 2019-04-01 2020-03-31 2019-07-17 INR Crores First quarter Single segment Sale of Natural Gas 2019-04-01 2019-06-30 Unaudited Standalone 8311900000.00 203400000.00 8515300000.00 3482400000.00 0.00 -100000.00 244100000.00 13700000.00 371900000.00 1817200000.00 5929200000.00 2586100000.00 0.00 2586100000.00 808100000.00 75600000.00 883700000.00 0.00 1702400000.00 0.00 0.00 0.00 0.00 1702400000.00 3100000.00 1705500000.00 0.00 0.00 987800000.00 10 17.23 17.23 0.00 0.00 17.23 17.23 1. The above financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on August 8, 2019. n2. The limited review as required under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 has been completed by the auditors of the Company. n3. The Company is in the business of selling and distribution of natural gas. There are no separate reportable segments, other than selling of natural gas, as per IND AS 108 - Operating Segments. n4. The Company has adopted modified retrospective approach as per para C5 (b) and recognition of lease liability as per para C8 (a) and right to use asset as per para C8 (b) (ii) of IND AS 116 - Leases to its leases effective from annual reporting period beginning 1st April 2019. Restatement of comparative information is not required as para C7 of Ind AS 116. nThis has resulted in recognition of lease liability and right to use asset of Rs.59.91 crore and further addition to right to use asset on account of leasehold land of Rs.62.37 crore, reclassified now, as at 1st April, 2019. Operating lease expenses have changed to depreciation cost on the right to use assets and finance cost for interest accrued on lease liability. nReconciliation for the above effect on statement of profit and loss for the current period ending 30th June, 2019 as follows: nAdjustment to increase / (decrease) in net profittQuarter ended 30th June, 2019 comparable basistChanges due to IndAS 116 Increase/ n(decrease)tQuarter ended 30th June, 2019 as reported nOther Expensest 112.72 t (4.70)t 108.02 nFinance Costst 0.05 t 1.32 t 1.37 nDepreciation and Amortisation Expensest 33.11 t 4.08 t 37.19 nProfit Before Taxt 259.31 t (0.70)t 258.61 n n5. As per authorisation terms and conditions of the PNGRB for Raigad Geographical Area, the Company is required to meet Minimum Work Programme (MWP) targets by March 2020 (with reference to connections and pipeline inch Kilo Meters) and the Company had submitted Performance Bank Guarantee of Rs.105.20 Crore dated March 19, 2015 to the PNGRB. Show cause notice dated July 23, 2018 was given by the PNGRB for shortfall in periodic MWP, asking MGL to explain why penalty should not be levied for the interim MWP target shortfall. The Company submitted catch up plan vide letter dated August 2, 2018 for meeting MWP target by March 2020 and reiterated host of factors beyond control of MGL causing a shortfall. No further written communication is received from PNGRB. The Company has achieved connection targets as per catch up plan up to 31st March 2019 and the progress on pipeline inch Kilo Meters is being expedited. The Company has received critical permissions from various authorities for laying pipelines as of April 2019. The management is of the view that it will be able to make substantial progress on the required work by March 31, 2020 and that the penalty can be avoided. Accordingly, no provision is deemed necessary in relation to the bank guarantee issued to the PNGRB at this stage. n6. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year up to 31st March, 2019 and the unaudited year-to-date published figures up to 31st December, 2018 being the date of the end of the third quarter of the financial year which was subjected to limited review. n7. The figures for the previous year / periods are re-arranged / re-grouped, wherever considered necessary. Excise Duty 737000000.00 Other Expenses 1080200000.00