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ItemsThatWillNotBeReclassifiedToProfitAndLoss1

5399572025-04-012025-12-31

ItemsThatWillNotBeReclassifiedToProfitAndLoss1

iso4217:INRiso4217:INRxbrli:shares

539957

MGL

NOTLISTED

INE002S01010

Mahanagar Gas Limited

Main Board

Equity

2025-04-01

2026-03-31

2026-02-07

2026-01-29

INR

Crores

Quarterly

Third quarter

Single segment

Sale of Natural Gas

2026-02-07

11:30:00

2026-02-07

15:00:00

Not applicable

2025-10-01

2025-12-31

Unaudited

Consolidated

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20.36

Notes: 1. The aforesaid consolidated financial results of Mahanagar Gas Limited ("the Company/ Holding Company") and its subsidiaries and associates (referred together as "the Group") are submitted by the Company pursuant to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The above consolidated financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on February 07, 2026. 2. The above consolidated financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 as amended. 3. The Group is mainly 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". 4. GAIL (India) Limited (GAIL) raised demand on the Holding Company in April 2014 for transportation tariff with respect to ONGC's Uran Trombay Natural Gas Pipeline (UTNGPL) pursuant to demand on them by Oil and Natural Gas Corporation Limited (ONGC), based on the Petroleum and Natural Gas Regulatory Board (PNGRB) order dated December 30, 2013, determining tariff for ONGC's UTNGPL as a common carrier. The total demand raised by GAIL for the period from November 2008 till July 2021 was Rs. 331.80 Crore. The Holding Company disputed the demand with GAIL based on contractual provisions and since the transportation charges are to be paid by a third-party user for utilisation of UTNGPL to ONGC as common carrier and not for transportation of its own gas by ONGC. The Holding Company filed an appeal with the PNGRB in February 2015, the same was dismissed in October 2015. The Holding Company filed a writ petition, in November 2015, with the Hon'ble High Court of Delhi. The Court advised the Holding Company to file an appeal with Appellate Tribunal for Electricity (APTEL) being Appellate Authority of the PNGRB in November 2016. The matter was heard by APTEL and remanded back to the PNGRB on technical grounds in September 2019. PNGRB in March 2020, had passed an Order which directed the Holding Company and GAIL to pay the disputed transportation tariff to ONGC. The Holding Company filed an Appeal before APTEL against the PNGRB order in April 2020. The matter was heard by APTEL in October 2020. APTEL remanded back the case in July 2021 to PNGRB for proper adjudication. The matter was heard by PNGRB in April 2022 and an order was passed in September 2022 directing the Holding Company to pay the disputed transportation tariff for the period 2014 to 2021 as per the transportation tariff fixed by PNGRB for UTNGPL. The Holding Company had filed a writ before the Hon'ble High Court of Delhi challenging the PNGRB's September 2022 order. The Hon'ble High Court of Delhi vide its order dated December 13, 2022 has stayed the recovery against the PNGRB order and has directed the Holding Company to deposit a sum of Rs. 50 Crore with GAIL by February 15, 2023, which was deposited with GAIL on February 14, 2023. The Hon'ble High Court has rescheduled the next hearing to February 25, 2026. Based on the legal opinions obtained, the Holding Company believes that it has a strong case and does not expect any outflow of resources. Hence, no provision has been recognised. 5. Pursuant to the scheme of Amalgamation ("the Scheme") under Section 230 to 232 of the Companies Act, 2013 sanctioned by the Hon'ble National Company Law Tribunal, Mumbai bench, vide order dated July 23, 2025, Unison Enviro Private Limited a wholly owned subsidiary of the Holding Company has been amalgamated with the Holding Company, the appointed date being February 01, 2024. In terms of the Scheme, the assets and liabilities of UEPL have been vested with the Holding Company and have been recorded at their respective fair values as of appointed date, as per Indian Accounting Standards i.e, IND AS 10S - Business Combinations. Accordingly, the comparative financial information for quarter and nine months ended December 31, 2024 and year ended March 31, 2025 have been res ted to give effect to the said amalgamation. 6. During the financial year 2024-25 the Holding Company increased their stake in 3EV Industries Private Limited to 24.54%, which subsequently reduced to 23.51% as on reporting date and acquired 44% stake in International Battery Company India Private Limited. 7. Figures for the comparative period, prior to the investments in Associates are not comparable. 8. On January 09, 2025, The Joint commissioner CGST and Central Excise Mumbai East Commissionerate, had passed an order (received by the Holding Company on January 18, 2025) demanding GST liability under Reverse Charge Mechanism (RCM) towards road re-instatement ("Rasta Nuksan Bharpai") charges paid to the Local Authorities by the Company while laying underground pipelines, amounting to Rs. 54.33 Crore plus applicable penalty and interest under Section 74 (1) of CGST Act, 2017. In response to the appeal filed by the Holding Company against the aforesaid order, a hearing before the First Appellate Authority (Commissioner of Appeals) was held on April 30, 2025. The order from the Commissioner (Appeals), confirming the demand, was received on August 25, 2025. The Holding Company is in process of filling an appeal before the GST tribunal to contest the said order. Based on the legal opinion obtained, the Holding Company believes that it has a strong case and does not expect any outflow of economic resources. 9. On November 21, 2025, the Government of India notified four Labour Codes. These Labour Codes consolidate twenty-nine existing labour laws into a unified framework governing employee benefits during and post-employment and, among other things, introduce changes, including a uniform definition of wages and enhanced benefits relating to leave. The implementation of the Labour Codes has resulted in an increase in gratuity liability arising from past service cost of Rs. 9.94 Crore. This amount has been included under Employee Benefit Expenses in the standalone unaudited financial results for the quarter and nine months ended December 31, 2025. The Holding Company continues to monitor the developments relating to the Labour Codes and will evaluate any additional impact. 10. The Board of Directors at their meeting held on February 07, 2026, has declared an interim dividend of Rs. 12.00 per share i.e. 120 % on the face value of Rs. 10 per share. The Company has fixed February 13, 2026, as record date for ascertaining the eligible shareholders for payment of interim dividend.

2025-04-01

2025-12-31

Unaudited

Consolidated

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Excise Duty

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Other Expenses

2431300000

Excise Duty

6127100000

Other Expenses

7151400000

Items that will not be reclassified to profit or loss

25900000

Items that will not be reclassified to profit or loss

16400000

6500000

4100000

19400000

12300000