MGL

1. Strong growth in CNG demand MGL continues to benefit from increasing adoption of CNG vehicles in Mumbai and surrounding regions. Rising preference for cleaner and cost-effective fuels remains a long-term positive. 2. City Gas Distribution (CGD) business remains strong The company maintains a dominant position in its licensed geographical areas. Growth in both CNG and PNG connections continues to support volume expansion. 3. Domestic PNG segment expanding MGL continues adding new household and commercial PNG customers. Expansion of gas infrastructure is supporting customer growth. 4. Industrial and commercial demand improving Demand from industrial and commercial customers remains healthy as businesses increasingly shift toward cleaner fuels. 5. Margin trends under watch Investors are closely monitoring: Domestic gas allocation LNG prices Regulatory developments Marketing margins Gas sourcing costs remain an important profitability factor. 6. Focus on EV and clean-energy ecosystem MGL is gradually exploring opportunities in: EV charging infrastructure LNG stations