Mahanagar Gas Limited

rs,

5/661 Date: October 30, 2025 To, Head, Listing Compliance Department BSE Limited P. J. Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 539957 Head, Listing Compliance Department National

27.10%

ith 485 CNG filing stations Strong focus on Health, Safety and Environment 3 years Revenue CAGR 27.10% RoE (FY25): 18.91% All the figures are of the amalgamated entity (MGL + erstwhile UEPL) www.mah

18.91%

stations Strong focus on Health, Safety and Environment 3 years Revenue CAGR 27.10% RoE (FY25): 18.91% All the figures are of the amalgamated entity (MGL + erstwhile UEPL) www.mahanagargas.com 4

rs 3,371

Vehicles – 1,156 CNG Stations - 390 Pipeline (Steel & PE) in Km Industrial & Commercial Customers 3,371 3,213 3,594 Cumulative Steel – 658 PE – 6,927 Cumulative 5,252 1,616 244 270 143 343 Stee

rs 226

& Osmanabad Chitradurga & Davanagere Pipeline (Steel & PE) in Km Industrial & Commercial Customers 226 143 65 Cumulative Steel – 43 PE – 434 57 Cumulative 64 26 9 8 Steel Ratnagiri Latur & Os

14.73%

24-25 YoY Q1 FY25-26 QoQ H1 FY25-26 H1 FY24-25 ₹ Crore YoY Revenues 2,049.33 1,786.25 14.73% 2,081.38 -1.54% 4,130.71 3,452.01 19.66% Gross Profit 624.59 660.57 -5.45% 771.67 -19.06%

1.54%

25-26 QoQ H1 FY25-26 H1 FY24-25 ₹ Crore YoY Revenues 2,049.33 1,786.25 14.73% 2,081.38 -1.54% 4,130.71 3,452.01 19.66% Gross Profit 624.59 660.57 -5.45% 771.67 -19.06% 1,396.26 1,321.2

19.66%

1 FY24-25 ₹ Crore YoY Revenues 2,049.33 1,786.25 14.73% 2,081.38 -1.54% 4,130.71 3,452.01 19.66% Gross Profit 624.59 660.57 -5.45% 771.67 -19.06% 1,396.26 1,321.24 5.68% EBITDA 337.95 4

5.45%

49.33 1,786.25 14.73% 2,081.38 -1.54% 4,130.71 3,452.01 19.66% Gross Profit 624.59 660.57 -5.45% 771.67 -19.06% 1,396.26 1,321.24 5.68% EBITDA 337.95 413.47 -18.27% 500.71 -32.51% 838.6

19.06%

14.73% 2,081.38 -1.54% 4,130.71 3,452.01 19.66% Gross Profit 624.59 660.57 -5.45% 771.67 -19.06% 1,396.26 1,321.24 5.68% EBITDA 337.95 413.47 -18.27% 500.71 -32.51% 838.66 850.28 -1.37%

5.68%

130.71 3,452.01 19.66% Gross Profit 624.59 660.57 -5.45% 771.67 -19.06% 1,396.26 1,321.24 5.68% EBITDA 337.95 413.47 -18.27% 500.71 -32.51% 838.66 850.28 -1.37% EBIDTA Margins 16.49%

18.27%

Profit 624.59 660.57 -5.45% 771.67 -19.06% 1,396.26 1,321.24 5.68% EBITDA 337.95 413.47 -18.27% 500.71 -32.51% 838.66 850.28 -1.37% EBIDTA Margins 16.49% 23.15% 24.06% 20.30% 24.63%

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(1) Mileage of CNG LCV – 10 km/ kg, Diesel LCV – 10 km/ ltr (2) Mileage of CNG Car – 26 km/kg, Petrol car – 18 kms/ ltr Sep-25 Domestic PNG Oct-25 Domestic LPG Assuming 12 cylinders per year Sep-25 Commercial PNG Oct-25 Commercial LPG www.mahanagargas.com 14 Diversified Sourcing Strategy Sales Volume Composition - Q2 FY 26 CNG DPNG Commercial Indistrial 69.87% 13.31% 3.35% 13.47% Priority Segment Forms Majority • Distribution - Majority of MGL’s sales are from CNG and D-PNG • Gas for D-PNG - 100% APM allocation is available • Gas for CNG – Partially from APM allocation and balance from Market determined price Term & SPOT Non-Priority Segment • Gas for I&C - Market determined price www.mahanagargas.com 15 Shareholding, Dividend and Market Capitalisation Dividend Per Share (Rs) 15 20 23 25 26 30 30 FY 20 FY 21 FY 22 Normal FY 23 Special FY 24 FY 25 Market Capitalisation (Rs cr.) 19,167 15,774 13,474 12,687 13,700 14,651 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 www.mahanagargas.com 16 32