MGL · NSE
Mahanagar Gas Limited
₹1,081.7
+0.98% (+₹10.5)
Prev. close
₹1,071.2
Volume
1,96,402
Delivery %
57.6%
As of
18 Sept 2026
Price history
Probal Sen · ICICI Securities · 19 Aug 2026
“Bullish on MGL and IGL, as the additional APM gas allocation is expected to significantly benefit both companies. This government move is anticipated to result in a 50% jump in gas production, supporting rising household demand and potentially reducing dependence on costlier alternative fuels.”
Published mid-session at 10:29 IST. Tracking counts only prices printed after publication — the chart's dashed divider marks that moment; earlier prices never count toward entry or results.
Analyst sentiment
Analysts lean bullish
1 analyst stance · last 90 days · one per analyst
Trackable
1 · 1 bull / 0 neutral / 0 bear
Long-Horizon
none in window
Commentary
none in window
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions | |||
|---|---|---|---|---|---|---|---|
| “Bullish on MGL and IGL, as the additional APM gas allocation is expected to significantly benefit both companies. This g…” | Probal SenICICI Securities | MGL | MISS | ||||
“Bullish on MGL and IGL, as the additional APM gas allocation is expected to significantly benefit both companies. This government move is anticipated to result in a 50% jump in gas production, supporting rising household demand and potentially reducing dependence on costlier alternative fuels.” How it resolved: MGL fell from ₹1128.00 to ₹1075.80, a -4.63% decline, contradicting the bullish claim (18 Sept 2026) | |||||||
Fundamentals
About Mahanagar Gas Limited
Mahanagar Gas Limited operates as a natural gas distribution company in India. The company supplies piped natural gas (PNG) to domestic households, domestic households, and commercial establishments and industries used for cooking and water heating, as well as by hospitals, nursing homes, hotels, flight kitchens, restaurants, and places of worship. It also supplies compressed natural gas (CNG) and liquefied natural gas (LNG) to vehicles; and sells pipes and fittings required for construction of pipeline infrastructure. The company operates 518 CNG stations connected to 32.14 lakh households; and 5,924 industrial and commercial customers through a pipeline network of 8320 kilometers comprising of carbon steel and polyethylene pipelines. Mahanagar Gas Limited was incorporated in 1995 and is based in Mumbai, India.
Details
Sector
Utilities
Industry
Utilities - Regulated Gas
CEO
Mr. Ajay Sinha
Headquarters
Mumbai
Employees
729
Website
mahanagargas.comExchange
View on NSE ↗Key stats
Market cap
₹10,684.79 Cr
P/E ratio (TTM)
14.9
Dividend yield
3.36%
EPS (TTM)
₹72.41
Beta (1Y · daily vs NIFTY 50)
0.97
Beta (5Y · monthly vs NIFTY 50)
1.62
Shares float
5.68 Cr
EPS · quarter ended Jun 2026
₹19.54
Upcoming earnings
29 Oct 2026
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| — | — | ₹6,277.27 Cr | ₹6,266.91 Cr | ₹7,227.51 Cr | ₹8,206.56 Cr | |
| EBITDA | ₹1,014.46 Cr | ₹1,010.06 Cr | ₹1,296.07 Cr | ₹2,018.77 Cr | ₹1,735.70 Cr | ₹1,570.46 Cr |
| ₹619.57 Cr | ₹596.95 Cr | ₹790.05 Cr | ₹1,276.37 Cr | ₹1,040.57 Cr | ₹841.14 Cr | |
| Diluted EPS | ₹62.72 | ₹60.43 | ₹79.98 | ₹129.21 | ₹105.33 | ₹85.15 |
Revenue has filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹4,601.14 Cr | ₹5,233.80 Cr | ₹6,032.00 Cr | ₹7,253.00 Cr | ₹8,302.00 Cr | ₹8,981.00 Cr | |
| ₹74.10 Cr | ₹102.98 Cr | ₹114.61 Cr | ₹141.43 Cr | ₹201.03 Cr | ₹222.87 Cr | |
| Stockholders' equity | ₹3,232.37 Cr | ₹3,597.31 Cr | ₹4,134.00 Cr | ₹5,139.00 Cr | ₹5,878.00 Cr | ₹6,428.00 Cr |
Fixed assets, Others, Long-term debt, Current (short-term) debt have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹805.52 Cr | ₹903.68 Cr | ₹969.00 Cr | ₹1,568.00 Cr | ₹1,407.00 Cr | ₹1,162.00 Cr | |
| Investing cash flow | ₹-443.90 Cr | ₹-539.05 Cr | ₹-649.10 Cr | ₹-1,081.95 Cr | ₹-1,052.72 Cr | ₹-888.26 Cr |
| ₹-348.81 Cr | ₹-310.34 Cr | ₹-284.79 Cr | ₹-499.25 Cr | ₹-329.80 Cr | ₹-368.58 Cr | |
| Capital expenditure | ₹-3,146.29 Cr | ₹-649.02 Cr | ₹-713.00 Cr | ₹-783.00 Cr | ₹-1,184.00 Cr | ₹-1,076.00 Cr |
| End cash position | ₹28.19 Cr | ₹82.48 Cr | ₹117.90 Cr | ₹129.37 Cr | ₹151.77 Cr | ₹57.20 Cr |
Debt repaid has filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21–Jun 26(20Q) |
|---|---|
| Promoter | 32.50% |
| Public | 67.50% |
| Employee trusts | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Utilities
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Adani Power Limited | ₹3.97 L Cr | ₹206.6 | 27.9 | 6.12 | 19.8% | 0.84 | -3.5% | -67.3% |
| NTPC Limited | ₹3.20 L Cr | ₹323.65 | 10.1 | 1.57 | 13.3% | 1.33 | -1.2% | -3.9% |
| Power Grid Corporation of India Limited | ₹2.45 L Cr | ₹270.3 | 12.9 | 2.44 | 15.8% | 1.51 | +1.6% | -6.5% |
| Adani Green Energy Limited | ₹2.10 L Cr | ₹1,334.5 | 122.3 | 10.51 | 8.3% | 5.08 | +11.6% | +36.3% |
| Adani Energy Solutions Limited | ₹1.70 L Cr | ₹1,436.1 | 57.1 | 6.67 | 9.0% | 1.93 | +15.4% | +71.5% |
| Tata Power Company Limited | ₹1.18 L Cr | ₹374.8 | 30.6 | 2.99 | 9.5% | 2.02 | -4.8% | -4.7% |
| GAIL (India) Limited | ₹1.13 L Cr | ₹173.9 | 11.4 | 1.27 | 8.5% | 0.28 | -0.2% | -3.9% |
| Siemens Energy India Limited | ₹1.11 L Cr | ₹3,228 | 74.2 | 25.27 | 25.1% | 0.03 | +63.5% | -7.1% |
| JSW Energy Limited | ₹93,817.50 Cr | ₹526 | 40.3 | 3.05 | 7.3% | 2.50 | +62.8% | -2.2% |
| NHPC Limited | ₹75,749.61 Cr | ₹75.2 | 27.6 | 1.83 | 9.1% | 1.32 | +7.2% | -13.8% |
| NTPC Green Energy Limited | ₹73,797.80 Cr | ₹88.55 | 141.3 | 3.89 | 2.8% | 1.67 | +29.8% | -14.7% |
| Mahanagar Gas Limited | ₹10,581.07 Cr | ₹1,081.7 | 14.8 | 1.65 | 13.1% | 0.03 | +13.5% | -19.3% |
Ranked by market cap within Utilities, same metrics as the Fundamentals screener. Click a column to sort.
Documents
IPO documents
Annual reports
Show all 13
Concall transcripts
Show all 13
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
30 indices
NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.
MGL 31st AGM: Shareholders Approve ₹18 Final Dividend, Total FY26 Payout Reaches ₹30 Per Share
Mahanagar Gas Limited shareholders approved a final dividend of ₹18 per share for FY26, bringing the total dividend payout to ₹30 per share. The company reported strong performance in CNG and PNG sales and is exploring new energy opportunities like LNG, CBG, and green hydrogen. MGL also highlighted its debt-free balance sheet and expanded geographical footprint.