Excise Duty Cut To Boost CNG Car Volumes? | MGL A Big Beneficiary Of CNG Excise Duty Cuts?

Ashu Singhal, Managing Director, Mahanagar Gas Limited, discussed the potential impact of a possible excise duty reduction on CNG prices. He highlighted that such a cut would be beneficial, potentially lowering CNG costs by 7-8 rupees per kg, leading to increased demand. He also mentioned the possibility of gas coming under GST and the expansion of MGL's infrastructure with 85-90 new outlets planned for this year. Despite price hikes due to higher gas costs, MGL's margin guidance remains at 10-12 rupees per SCM.
#cng #exciseduty #niftyauto #businssnews
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