Mahanagar Gas Q4 FY26 results: date, estimates 2026

What investors are waiting for in May 2026

Mahanagar Gas Limited (MGL) is expected to announce its Q4 FY26 results in May 2026 for the quarter ended March 31, 2026. The company is also expected to consider a final dividend recommendation alongside approval of audited financial statements. The exact board meeting date is expected to be communicated through a BSE/NSE exchange filing.

The Q4 print matters because estimates in the market material provided show a wide dispersion on revenue, profit and margins. That makes management commentary on margins and FY27 demand an important part of the event for investors tracking the City Gas Distribution (CGD) and gas utilities space.

Expected Q4 FY26 result date and disclosure process

The material repeatedly flags May 2026 (Expected) as the results window for MGL. It also notes that the “exact board meeting date will be communicated via BSE/NSE exchange filing”. Separately, a “Next Earnings Update” date is also shown as 07 May 2026.

A simple cross-check for investors is to watch the company’s exchange filings for the board meeting intimation and outcome filings, which typically include the audited results and dividend decision.

Q4 FY26 revenue and PAT estimates: two sets to track

The content includes two distinct sets of estimates for Q4 FY26:

• A table labelled “Mahanagar Gas Q4 Results 2026 – Date and Key Estimates” puts Q4 FY26 revenue at ₹1,950 crore and PAT at ₹418 crore, with EBITDA margin estimate at 21.4%.
• A separate narrative section dated Mon Apr 13 2026 cites higher analyst ranges: revenue of ₹2,450-2,600 crore, PAT of ₹490-530 crore, and EBITDA margin of 28-30%.

Because the ranges and point estimates differ meaningfully, investors typically focus on what the company reports and how it reconciles with the margin and demand narrative.

Q3 FY26 baseline numbers: why there is confusion

The document also provides different “base” numbers for Q3 FY26:

• One line states Q3 FY26 revenue of ₹1,850 crore and PAT of ₹388 crore.
• Elsewhere, it states MGL reported Q3 FY26 revenue of ₹2,346 crore and PAT of ₹474 crore, with EBITDA margin of 28.8%.

It also includes a “Last Earnings Date” section that lists Revenue 2,060 and Net Profit 201 for “Q3 FY25-26 | 7th, Feb, 2026”, and another earnings table in INR millions showing Dec 2025 Total Income 2,089.84 and PAT 201.15.

Given these inconsistencies across snippets, the cleanest approach is to treat the exchange-filed quarterly result as the reference point and use the above figures only as presented in the source material.

Margin focus: what the Street is watching

Across the content, the key swing factor is EBITDA margin trajectory.

• In the lower estimate table, EBITDA margin is pencilled in at 21.4% for Q4 FY26 with “improvement expected”.
• In the April 13, 2026 note, Q4 FY26 margin expectations are EBITDA 28-30%, compared with EBITDA 28.8% in Q3 (as stated in that same section).

The write-up lists input cost trends, employee expenses, and pricing power as key drivers of whether the company can sustain margins. It also flags “PAT quality” as a focus, noting that investors will assess whether profit is driven by operational performance or non-recurring items.

Dividend watch: history and Q4 expectations

Dividend expectations also vary in the provided material:

• The “Key Estimates” table lists a dividend history of ₹18.00 per share and a final dividend expectation of ₹20.00.
• Another section says MGL is expected to consider a final dividend of ₹22-28 per share at the May 2026 (Expected) board meeting.

The document also notes historical dividend announcements such as ₹12.00 (dated Feb 12) and an increase to ₹16.00 (dated Aug 03), and separately says the company “has declared a dividend of ₹12.00 on 13 Feb, 2026”. As always, dividend declarations are subject to board approval.

Stock price, market cap, and reported return snapshot

The material provides two different trading snapshots for MGL:

• One line says MGL is trading at approximately ₹1,165 with a market capitalisation of ₹11,500 crore.
• Another section says MGL is trading at ₹1,450 (early April 2026), against a 52-week high of ₹1,850 and 52-week low of ₹1,180, with a 1-year return of -14% and market cap of ₹14,300 crore.

It also mentions analyst targets “from ₹1,560 to ₹1,600” and names two broker calls heading into the results: YES Securities (Buy, ₹1,680) and JM Financial (Add, ₹1,620).

Quick table: key reported dates and estimates

Broader earnings season context

A small comparison table in the content lists other large companies and expected results windows, including TCS (April 2026) and Infosys (April 2026). For MGL, May 2026 remains the highlighted window.

Why the Q4 print matters for FY27 tracking

The material says the Street will watch margin trajectory and management guidance on FY27 demand. It also calls Q4 “seasonally important for the Gas/CGD sector” and frames the quarter as a performance test for converting operations into recognised revenue. After the results, guidance and the dividend decision are positioned as key signals for capital allocation expectations.

Conclusion

Mahanagar Gas’ Q4 FY26 results are expected in May 2026, with investors tracking reported revenue, PAT, EBITDA margin trajectory, and the final dividend decision. The next step is the company’s board meeting intimation and outcome filing on BSE/NSE, which will confirm the result date, audited numbers, and any final dividend recommendation.