• FY 2018-19 was a strong year, as we maintained our position as one of the leading natural gas distribution companies of India. The trust that customers and stakeholders have shown in our abilities, has continued to enthuse us to achieve consistent results and significant milestones during the year.
  • Reflecting on the fiscal period under review, FY 2018-19 was filled with external vulnerabilities arising out of volatile oil prices, trade wars between major global trading partners and US monetary tightening.
  • Despite the slowdown in growth, India stood out as one of the world’s fastest growing large economies, majorly led by a robust consumption story. However, the GDP growth moderated primarily due to subdued rural demand towards the second half of the year coupled with liquidity issues. While customer sentiments were moderated, the long term consumption story remains intact.
  • Perception is the value of your company to its internal and external stakeholders and measure of future goodwill and growth avenues.
  • MGL is committed to achieve PHP parameters for sustainable development and growth of the company. Your company has been a pioneer and a trend-setter in this industry to achieve PHP for over two and a half decades, we have built an extensive supply network in Mumbai and its adjoining areas.
  • In view of the favourable regulatory environment and the Government’s efforts to improve the economic viability of natural gas in India, we aim to capitalise on the opportunities within the City Gas Distribution business, which looks positive in the long term.
  • MGL continues to invest in and keep pace with latest technological developments, as these are changing the face of trade and the way the Company interacts with its customers. The investment in technology has been spread in multiple areas of the Company’s operations.
  • Cybersecurity is one of the top most priority of your organisation and accordingly significant initiatives have been taken in this area along with protection against the concerns related to data privacy.
  • To automate the process of daily CNG progress report preparation at daughter booster stations, an in-house CNG mobile app has been developed. On the customer front, to enhance awareness on various voluntary modes of providing meter reading, new initiatives were undertaken.
  • Going forward, your Company is in the process of undertaking trials for the implementation of pre-paid metering system for domestic customers. These initiatives shall render the capability for remote acquisition of meter readings, detecting instances of meter tampering and delivering an enhanced user experience thereby raising safety as well as revenue realisation.My view: The stock is making new highs along with earnings going up, Net sales Growth is also good. E-CNG is a good opportunity for the company. ROE & ROCE are consistent. A rising tide lifts all boats, the industry has some tailwinds which can benefit both Mahanagar Gas & Petronet LNG.

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