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![Sharad9Dubey Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1077676619349712896.png) Sharad Dubey [@Sharad9Dubey](/creator/twitter/Sharad9Dubey) on x 45.3K followers
Created: 2025-07-24 06:17:46 UTC

WHY THE FALL IN MGL? 

Management has cut FY26E volume growth guidance on below-par Q1 for CNG   
Seeing INR0.6–0.7/kg adverse impact of higher gas pipe transportation cost due to restructuring of unified tariff zones. 
Rising gas costs, opex squeeze margins in Q1
Q1 CNG vehicle adds fell XX% QoQ due to a one–third fall in passenger vehicle adds 

BROKERAGE TAKE 
NUVAMA 
Maintain Reduce-TP 1300 
CGD multiples shall de-rate as the sector faces uncertainty from ad-hoc government policies 

Sector multiples’ de-rating due to ad-hoc government policies causing uncertainty


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948266337538826415/c:line.svg)

**Related Topics**
[tariffs](/topic/tariffs)
[chapter 11](/topic/chapter-11)

[Post Link](https://x.com/Sharad9Dubey/status/1948266337538826415)