| Quarterly Financials | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 1,704 | 1,644 | 1,577 | 1,615 | 1,617 | 1,657 | 1,701 | 1,833 | 1,889 | 2,006 | 2,115 | 2,079 |
| Expenses | 1,415 | 1,221 | 1,017 | 1,092 | 1,120 | 1,218 | 1,229 | 1,373 | 1,523 | 1,570 | 1,583 | 1,714 |
| EBITDA | 288 | 423 | 560 | 523 | 497 | 439 | 472 | 460 | 367 | 436 | 532 | 365 |
| Operating Profit % | 15 % | 24 % | 34 % | 30 % | 29 % | 25 % | 26 % | 23 % | 18 % | 20 % | 24 % | 16 % |
| Depreciation | 59 | 64 | 62 | 66 | 68 | 81 | 83 | 84 | 91 | 93 | 96 | 104 |
| Interest | 2 | 2 | 3 | 3 | 3 | 6 | 3 | 3 | 4 | 4 | 5 | 5 |
| Profit Before Tax | 227 | 357 | 496 | 454 | 426 | 352 | 386 | 373 | 272 | 340 | 431 | 256 |
| Tax | 55 | 89 | 127 | 116 | 109 | 92 | 97 | 86 | 51 | 93 | 113 | 65 |
| Net Profit | 172 | 269 | 368 | 339 | 317 | 261 | 289 | 287 | 221 | 247 | 319 | 191 |
| EPS in ₹ | 17.42 | 27.21 | 37.30 | 34.27 | 32.11 | 26.38 | 29.23 | 29.03 | 22.39 | 25.01 | 32.26 | 19.37 |
Mahanagar Gas
Mahanagar Gas
1,200.20
-13.80
(-1.14%)
Market Cap
₹11,855.31 Cr
PE Ratio
12.42
Volume
1,22,912.00
Day High - Low
₹1,219.80 - ₹1,194.00
52W High-Low
₹1,586.90 - ₹1,167.00
There are new updates from the company22 hours ago
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Key Fundamentals
Market Cap
11,855.31 Cr
EPS
105.33
PB Ratio
1.96
Book Value
628.59
EBITDA
1,736.60
Dividend Yield
2.44 %
Industry
Oil & Gas Sector
Gas Supplier ROE Growth %
-
Debt to Equity
0.03
Analyst Rating and Forecast
- By Refinitiv from30 analysts
Actual
Company News
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Mahanagar Gas Limited announced that GAIL's gas supply to Mumbai and its suburbs will be fully restored by the afternoon of November 18, 2025. The restoration will benefit gas consumers across Mumbai and suburban areas who were affected by the supply disruption.
Mahanagar Gas Appoints Two New Directors Following Shareholder Approval10 days ago
Mahanagar Gas Limited shareholders approved the appointment of Ajay Sinha as Deputy Managing Director for 5 years and Pankaj Kuchhal as Independent Director for 3 years, both effective from August 23, 2025. The appointments bring over three decades of Oil & Gas industry experience in Sinha and 38 years of downstream sector expertise in Kuchhal to strengthen the company's leadership team.
Mahanagar Gas has announced its strategic shift to prioritize volume growth over maintaining margins. The company plans to establish a new CNG station featuring 55-56 dispensing arms, with completion targeted for March-April.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
606.65 | #1 66,719.98 | 107.17 | 5,030.70 | 11.33 | 654 | -11.91 | 42.56 | |
271.85 | 40,777.50 | #1 11.22 | #1 51,755.00 | -2.97 | #1 3,884 | -4.63 | 42.20 | |
199.38 | 27,913.23 | 17.95 | 15,261.90 | 7.02 | 1,713 | -15.24 | 39.13 | |
396.15 | 27,270.57 | 24.81 | 16,695.20 | 5.69 | 1,148 | -9.36 | 37.49 | |
1,200.20 | #5 11,855.31 | #2 12.42 | #4 7,430.40 | #2 14.93 | #4 1,040 | #8 -33.30 | 37.72 | |
38.08 | 1,265.17 | 14.12 | 3,188.20 | #1 17.49 | 88 | -6.42 | 31.98 | |
289.20 | 1,187.45 | 31.03 | 1,009.90 | 10.46 | 47 | 5.00 | 36.69 | |
230.00 | 236.42 | 17.41 | 288.80 | 6.22 | 14 | #1 3,700.00 | 34.26 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
14.93 %
Net Income Growth
-19.02 %
Cash Flow Change
-10.34 %
ROE
-29.34 %
ROCE
-30.99 %
EBITDA Margin (Avg.)
-25.17 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2023 | 2024 | 2025 |
| Total Assets | 6,032 | 7,253 | 8,270 |
| Fixed Assets | 3,026 | 4,235 | 4,854 |
| Current Assets | 2,006 | 1,908 | 1,946 |
| Capital Work in Progress | 709 | 823 | 1,068 |
| Investments | 1,310 | 1,069 | 1,162 |
| Other Assets | 988 | 1,126 | 1,186 |
| Total Liabilities | 6,032 | 7,253 | 8,270 |
| Current Liabilities | 1,561 | 1,700 | 1,875 |
| Non Current Liabilities | 337 | 410 | 501 |
| Total Equity | 4,134 | 5,143 | 5,895 |
| Reserve & Surplus | 4,035 | 5,040 | 5,781 |
| Share Capital | 99 | 99 | 99 |
Cash Flow
| Cash Flow | 2023 | 2024 | 2025 |
| Net Cash Flow | 35 | 12 | 22 |
| Investing Activities | -649 | -1,057 | -1,052 |
| Operating Activities | 969 | 1,568 | 1,406 |
| Financing Activities | -285 | -499 | -332 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % | 32.50 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 30.55 % | 31.49 % | 34.20 % | 25.75 % | 23.76 % | 25.48 % | 23.60 % |
| DIIs | 16.75 % | 17.96 % | 17.39 % | 18.99 % | 17.21 % | 15.92 % | 15.47 % | 15.61 % | 14.93 % | 15.16 % | 15.50 % | 16.72 % | 17.40 % | 16.67 % | 15.47 % | 21.10 % | 23.82 % | 22.52 % | 22.89 % |
| Government | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % | 10.00 % |
| Public / Retail | 7.82 % | 8.11 % | 8.70 % | 11.11 % | 13.05 % | 13.27 % | 11.66 % | 10.58 % | 9.94 % | 8.62 % | 9.27 % | 7.98 % | 8.03 % | 7.85 % | 6.51 % | 8.70 % | 8.09 % | 7.99 % | 9.32 % |
| Others | 32.93 % | 31.43 % | 31.41 % | 27.40 % | 27.24 % | 28.30 % | 30.37 % | 31.32 % | 32.62 % | 33.73 % | 32.73 % | 32.80 % | 1.52 % | 1.49 % | 1.33 % | 1.94 % | 1.83 % | 1.51 % | 1.69 % |
| No of Share Holders | 1,48,404 | 1,53,827 | 1,64,038 | 1,92,455 | 2,18,221 | 2,14,250 | 1,99,724 | 1,81,222 | 1,67,717 | 1,54,383 | 1,53,582 | 1,41,617 | 1,49,718 | 1,47,540 | 1,42,738 | 1,73,905 | 1,67,650 | 1,66,589 | 1,78,576 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 19 | 19 | 20 | 35 | 23 | 25 | 16 | 30 | 30 |
| Dividend Yield (%) | 0.00 | 1.98 | 1.8 | 2.44 | 2.99 | 2.95 | 2.54 | 1.17 | 2.16 | 2.5 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 22 Feb 2021 |  Dividend | ₹ 9.00 /share | 18 Feb 2021 | 1,110.95 | 1,183.05 |
| 21 Sept 2021 | Dividend | ₹ 14.00 /share | 17 Sept 2021 | 1,130.80 | 1,107.55 |
| 18 Feb 2022 | Dividend | ₹ 9.50 /share | 17 Feb 2022 | 832.50 | 776.25 |
| 17 Aug 2022 | Dividend | ₹ 15.50 /share | 11 Aug 2022 | 762.40 | 921.60 |
| 14 Feb 2023 | Dividend | ₹ 10.00 /share | 14 Feb 2023 | 880.00 | 891.35 |
| 16 Aug 2023 | Dividend | ₹ 16.00 /share | 14 Aug 2023 | 979.95 | 985.55 |
| 05 Feb 2024 | Dividend | ₹ 12.00 /share | 05 Feb 2024 | 1,314.90 | 1,476.95 |
| 14 Aug 2024 | Dividend | ₹ 18.00 /share | 14 Aug 2024 | 1,378.85 | 1,790.65 |
| 23 Aug 2024 |  Annual General Meeting | NA | 23 Aug 2024 | 1,891.45 | 1,815.45 |
| 24 Oct 2024 |  Quarterly Result Announcement | NA | 24 Oct 2024 | 1,760.65 | 1,577.90 |
| 28 Jan 2025 | Quarterly Result Announcement | NA | 28 Jan 2025 | 1,321.35 | 1,258.75 |
| 03 Feb 2025 | Dividend | ₹ 12.00 /share | 03 Feb 2025 | 1,258.75 | 1,374.30 |
| 06 May 2025 | Quarterly Result Announcement | NA | 06 May 2025 | 1,333.70 | 1,404.85 |
| 22 Jul 2025 | Quarterly Result Announcement | NA | 22 Jul 2025 | 1,475.65 | 1,513.30 |
| 14 Aug 2025 | Dividend | ₹ 18.00 /share | 14 Aug 2025 | 1,404.85 | 1,343.70 |
| 22 Aug 2025 | Annual General Meeting | NA | 22 Aug 2025 | 1,412.40 | 1,329.75 |
| 29 Oct 2025 | Quarterly Result Announcement | NA | 29 Oct 2025 | 1,290.45 | 1,291.05 |
Announcements
Announcement under Regulation 30 (LODR)-Credit Rating
22 hours ago
22 hours agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication9 days ago
9 days agoAnnouncement Under Regulation 30 (LODR) - Update On Clarification On Media Reports Regarding CNG Supply Interruption10 days ago
10 days agoClarification sought from Mahanagar Gas Ltd10 days ago
10 days agoAnnouncement under Regulation 30 (LODR)-Change in Directorate10 days ago
10 days ago Shareholder Meeting / Postal Ballot-Scrutinizer"s Report10 days ago
10 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptNov 07, 2025
Nov 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 06, 2025
Nov 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 06, 2025
Nov 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeOct 30, 2025
Oct 30, 2025Announcement under Regulation 30 (LODR)-Investor PresentationOct 30, 2025
Oct 30, 2025Results - Financial Results For The Quarter And Half Year Ended September 30 2025Oct 29, 2025
Oct 29, 2025Board Meeting Outcome for Approval Of Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30 2025Oct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 24, 2025
Oct 24, 2025Board Meeting Intimation for Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025Oct 22, 2025
Oct 22, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 17, 2025
Oct 17, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 16, 2025
Oct 16, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotOct 16, 2025
Oct 16, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 09, 2025
Oct 09, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 06, 2025
Oct 06, 2025Closure of Trading WindowSep 25, 2025
Sep 25, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateSep 08, 2025
Sep 08, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 26, 2025
Aug 26, 2025Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Aug 26, 2025
Aug 26, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 25, 2025
Aug 25, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportAug 25, 2025
Aug 25, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateAug 22, 2025
Aug 22, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateAug 22, 2025
Aug 22, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 22, 2025
Aug 22, 2025Effective Date Of The Scheme Of AmalgamationAug 16, 2025
Aug 16, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 01, 2025
Aug 01, 2025Letter Sent To Shareholders - Annual Report FY 2024-25Jul 31, 2025
Jul 31, 2025Record Date For The Purpose Of Payment Of Final Dividend On Equity Shares For FY 2024-25Jul 31, 2025
Jul 31, 2025Business Responsibility and Sustainability Reporting (BRSR)Jul 31, 2025
Jul 31, 2025Reg. 34 (1) Annual Report.Jul 31, 2025
Jul 31, 2025Notice Of 30Th Annual General MeetingJul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptJul 30, 2025
Jul 30, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 28, 2025
Jul 28, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeJul 23, 2025
Jul 23, 2025Certified True Copy Of The Oder Passed By The National Company Law TribunalJul 23, 2025
Jul 23, 2025Announcement under Regulation 30 (LODR)-Investor PresentationJul 23, 2025
Jul 23, 2025Results - Financial Results For The Quarter Ended June 30 2025Jul 22, 2025
Jul 22, 2025Board Meeting Outcome for Board Meeting Outcome For Approval Of Unaudited Standalone And Consolidated Financial Results For The Quarter Ended June 30 2025Jul 22, 2025
Jul 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 17, 2025
Jul 17, 2025Board Meeting Intimation for Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30 2025Jul 15, 2025
Jul 15, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 11, 2025
Jul 11, 2025Mutual Fund Holdings
NJ Balanced Advantage Fund Direct - Growth 
HDFC Multi Cap Fund Direct - Growth 
Baroda BNP Paribas Dividend Yield Fund Direct-Growth 
Bajaj Finserv Multi Cap Fund Direct-Growth 
ICICI Prudential Energy Opportunities Fund Direct-Growth 
Samco Multi Cap Fund Direct-Growth 
Taurus Ethical Fund Direct-Growth 
LIC MF Balanced Advantage Fund Direct - Growth 
Edelweiss Nifty500 Multicap Momentum Quality 50 Index Fund Direct-Growth 
Bandhan Infrastructure Fund Direct Plan-Growth 
Nippon India Nifty Smallcap 250 Index Fund Direct - Growth 
JioBlackRock Nifty Smallcap 250 Index Fund Direct - Growth 
DSP Nifty Smallcap250 Quality 50 Index Fund Direct - Growth 
Motilal Oswal Nifty Smallcap 250 Index Fund Direct - Growth 
UTI Nifty 500 Value 50 Index Fund Direct - Growth 
Axis Nifty500 Value 50 Index Fund DirectGrowth 
Navi Nifty Smallcap250 Momentum Quality 100 Index Fund Direct - Growth Technical Indicators
RSI(14)
Neutral 40.90
ATR(14)
Less Volatile 25.48
STOCH(9,6)
Neutral 24.91
STOCH RSI(14)
Neutral 60.20
MACD(12,26)
Bearish -0.42
ADX(14)
Weak Trend 14.88
UO(9)
Bearish 36.46
ROC(12)
Downtrend And Accelerating -0.54
WillR(14)
Neutral -69.42
About Mahanagar Gas
Mahanagar Gas Limited (MGL) is a major city gas distribution company in India, operating in Mumbai, Thane, and Raigad district of Maharashtra. It distributes compressed natural gas (CNG) for vehicles and piped natural gas (PNG) for domestic, commercial, and industrial use through an extensive pipeline network. MGL was incorporated in 1995 as a joint venture between GAIL, BG Group UK, and the Government of Maharashtra. The company has expanded its operations over the years, increasing its pipeline network, CNG stations, and customer base. As of 2023, MGL has over 5,000 km of polyethylene pipelines, 476 km of steel pipelines, and 256 CNG filling stations. The company also offers PNG for various industries and has recently introduced electric vehicle charging facilities at some CNG stations.
Listing Date
01 Jul, 2016(9 Years,
28 days)
Website
Chairperson NameSandeep Kumar Gupta
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