GAIL (India) Limited has announced that Shri Deepak Gupta has assumed charge as Chairman and Managing Director effective March 01, 2026. The appointment was communicated to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, marking a significant leadership transition for the Maharatna company.

Leadership Appointment Details

The company disclosed the key details of the new leadership appointment:

Professional Background and Expertise

Shri Deepak Gupta brings extensive experience to his new role as Chairman and Managing Director. A Mechanical Engineer from Delhi College of Engineering, he has more than 35 years of deep and diverse experience across the Oil & Gas value chain. His expertise encompasses a comprehensive blend of technical, strategic, and board-level leadership capabilities.

Key Areas of Specialization

The new Chairman's expertise spans multiple critical areas:

• Project & Construction Management
• Contracts & Global Procurement
• Technology Selection and Business Development
• Operations & Maintenance
• Digital transformation initiatives

Current Responsibilities and Achievements

As Director (Projects) since February 2022, Shri Gupta has been leading the execution of multiple high-impact initiatives. His current portfolio includes overseeing Natural Gas & LPG Pipelines, Gas Processing Units, critical SCADA infrastructure, and Green Energy initiatives to achieve Net-Zero goals.

Board Positions and Strategic Leadership

Shri Gupta serves as a Board member across multiple GAIL joint ventures, demonstrating his strategic leadership capabilities:

• Chairman of Maharashtra Natural Gas Limited
• Chairman of Green Gas Limited
• Chairman of Talcher Fertilizers Ltd. (India's maiden Coal Gasification based Fertilizer Complex)
• Director, ONGC Petro-additions Limited (OPaL)
• Director, South-East Asia Gas Pipeline Company Limited (SEAGP)

Previous Career Highlights

Before joining GAIL, Shri Gupta had a distinguished 32-year career at Engineers India Limited, where he led large cross-functional teams to execute landmark projects under complex conditions:

Regulatory Compliance

The company confirmed that Shri Deepak Gupta does not have any relationships with other Directors of the company and is not debarred from holding the office of Director by SEBI, Ministry of Corporate Affairs, or any statutory authority. The disclosure complies with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Mahanagar Gas Limited demonstrated strong operational performance in Q3FY26, with volume growth accelerating across key business segments while maintaining healthy profitability metrics. The company's strategic focus on infrastructure expansion and portfolio optimization continues to drive sustainable growth.

Financial Performance Highlights

The company delivered robust financial results for the quarter and nine-month period ended December 31, 2025. Sequential growth momentum remained strong with improved profitability metrics.

The Board approved an interim dividend of 120%, equivalent to INR12 per equity share, reflecting the company's strong cash generation and commitment to shareholder returns.

Volume Growth Across Segments

Mahanagar Gas achieved overall average sales volume of 4.62 MMSCMD in Q3FY26, representing a 0.59% sequential increase and 7.19% year-on-year growth from 4.31 MMSCMD in the corresponding quarter of the previous year.

For the nine months ended December 31, 2025, average gas sales reached 4.556 MMSCMD compared to 4.181 MMSCMD in the corresponding previous period, marking an 8.97% increase.

Infrastructure Expansion Continues

The company maintained its aggressive infrastructure development program during the quarter. Key expansion metrics include:

The company added 32,315 CNG vehicles during the quarter, bringing the total registered CNG vehicles in its geographies to over 1.25 million as of December 31, 2025.

Strategic Gas Sourcing Management

Management highlighted proactive portfolio management in gas sourcing to optimize costs amid volatile market conditions. The company reduced Henry Hub offtake by approximately 4% during the quarter, replacing it with HPHT and spot purchases when economically favorable.

APM and NWG together constituted approximately 45% of the sourcing mix, with APM accounting for 39% and NWG contributing 6%. The company has signed new Brent-linked contracts totaling 12,500 MMBtu starting January 2026, with additional contracts of 10,000 MMBtu planned from April 2026.

UEPL Integration Progress

The Unison Energy Private Limited (UEPL) operations continued showing positive momentum. UEPL achieved average sales volume of 0.283 MMSCMD in Q3FY26 compared to 0.194 MMSCMD in the corresponding quarter of the previous year. The company commissioned its 100th CNG station in UEPL areas at Latur in January 2026, adding 47 stations since acquisition over 23 months.

Outlook and Guidance

Management expects Q4FY26 to show improved performance, potentially achieving double-digit volume growth for the full year. The company maintains its medium-term volume growth guidance of approximately 8-9% annually, with expectations of reaching double-digit growth rates.

For margins, management provided guidance of INR8 to INR9 per SCM for FY27, compared to the current nine-month EBITDA per SCM of INR9.5. The company plans capex of approximately INR1,200 crores for FY27, primarily focused on GA-2, GA-3 expansion and UEPL areas development.