Mahanagar Gas Limited has announced the schedule for its 31st Annual General Meeting (AGM), to be held on Tuesday, August 25, 2026 at 3:00 p.m. IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The company has simultaneously released its Integrated Annual Report for FY 2025-26, covering comprehensive financial and operational performance across all business segments.

AGM and Dividend Details

The AGM notice was filed on August 03, 2026 (Ref: MGL/CS/SE/2026/716), signed by Company Secretary and Compliance Officer Atul Prabhu. Key dates associated with the meeting are summarised below:

The Board of Directors declared an interim dividend of ₹12 per equity share (face value ₹10) for FY 2025-26, paid in February 2026. The Board has further recommended a final dividend of ₹18 per equity share for FY 2025-26, subject to shareholder approval at the AGM. This brings the total dividend for FY 2025-26 to ₹30 per equity share, maintaining a consistent dividend track record.

FY 2025-26 Financial Performance

Mahanagar Gas delivered the following standalone financial results for FY 2025-26:

Revenue from operations increased by 13.58% year-on-year. Operating EBITDA decreased by 7.58%, primarily due to a significant reduction in APM gas allocation and elevated gas procurement costs arising from geopolitical disruptions in the Middle East, which impacted LNG availability and pricing. PAT declined by ₹194.45 crore to ₹846.82 crore. The company remained debt-free with a strong treasury position, self-funding its capital expenditure programme.

Of the ₹1,068.72 crore capital expenditure deployed, ₹988.44 crore pertained to laying of pipeline network and setting up of CNG stations.

Operational Performance Across Segments

FY 2025-26 witnessed robust volume growth across all customer segments, with average total gas sales volumes increasing by 8.25% to 4.59 MMSCMD from 4.24 MMSCMD in the previous year.

Key operational milestones during FY 2025-26 included:

• CNG Network: 52 new CNG stations commissioned, expanding the network to 518 stations as of March 31, 2026; the 500th CNG station was commissioned at Chiplun in the Ratnagiri geographical area
• CNG Vehicles: 1,18,590 new CNG vehicles added, taking the cumulative registered CNG vehicle base to 12,84,828 as of March 31, 2026
• D-PNG Connections: 3.42 lakh new domestic household connections added; cumulative household connections reached **3.21 million**
• Pipeline Network: 499 km of steel and PE pipeline laid, extending the network to over **8,320 kms**
• I&C Customers: 872 new Industrial and Commercial customers added, bringing the total to 5,924
• CGS Network: Two new City Gate Stations commissioned at Vilebhagad and Usarghar in Raigad; overall CGS network grew from 5 to 11 following UEPL amalgamation

UEPL Merger and Geographic Expansion

A key strategic milestone during FY 2025-26 was the successful merger of Unison Enviro Private Limited (UEPL), a wholly owned subsidiary, with the company, effective from August 16, 2025, pursuant to the National Company Law Tribunal approval. The merger expanded the company's operational footprint to ~45,691 sq. km., adding three new geographical areas — Ratnagiri, Latur & Dharashiv in Maharashtra and Chitradurga & Davanagere in Karnataka.

Following the merger, the UEPL CNG station network exceeded 109 stations. Gas sales volumes from the erstwhile UEPL regions grew from ~1.29 lakh SCMD to ~2.63 lakh SCMD within two years of acquisition. The UEPL unit turned EBITDA positive during the year and recorded overall sales volumes of 0.26 MMSCMD, representing growth of 43.72%.

New Business Initiatives

Mahanagar Gas continued to advance its diversification strategy targeting ~25% of future revenues from emerging business segments. Key developments included:

• LNG Mobility: Mahanagar LNG Private Limited (MLPL) recorded LNG sales of 761.70 MT, with volumes increasing approximately five-fold during the year; a second LNG station was commissioned at Seoni, Madhya Pradesh
• Compressed Biogas (CBG): A 350 TPD municipal solid waste processing facility in Mankhurd, Mumbai (with BMC support) and a 150 TPD plant in Davanagere, Karnataka are progressing; six CBG-integrated stations are currently operational
• Renewable Energy: Partnered with FPEL Reliant Energy Private Limited for a 6.5 MW solar module project under a group captive arrangement for COCO CNG stations in Maharashtra
• Electric Mobility: Strategic investments in 3ev Industries Private Limited (L5 category electric three-wheelers) and International Battery Company India Private Limited (lithium-ion cell manufacturing in Bengaluru) are progressing through their build-out phases
• Green Hydrogen: A pilot project at MIDC Rasayani, Patalganga is under development; land acquisition completed during FY 2025-26

CSR and Awards

Mahanagar Gas spent ₹27.99 crore on CSR initiatives during FY 2025-26, delivering 57 projects in partnership with 43 implementing organizations, reaching approximately 8,70,121 beneficiaries. The company received several recognitions during the year, including the CGD Member of the Year Award at the IGX Awards Ceremony 2026, the National Process Safety Excellence Award in the CGD category, and the Platinum Recognition from the Indian Green Building Council for its Integrated CGS and CNG Complex at Vilebhagad.

Mahanagar Gas has fixed August 18, 2026, as the record date for determining shareholder entitlement to its final dividend for the financial year 2025-26. The Board of Directors recommended a final dividend of ₹18 per equity share during its meeting held on May 07, 2026. This payout translates to a 180% dividend yield on the face value of ₹10 per share, signaling strong cash generation and confidence in the company’s financial position. Investors holding shares as of the record date will be eligible for the distribution, provided the proposal receives shareholder approval at the upcoming Annual General Meeting (AGM).

The declaration follows the regulatory framework outlined in Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board’s recommendation was initially communicated in an intimation dated May 07, 2026. The final disbursement is contingent upon ratification by shareholders at the AGM, scheduled for Tuesday, August 25, 2026. Upon approval, the company intends to distribute the dividend within 30 days from the date of the meeting.

Dividend Details

Eligibility for the dividend is determined based on the Register of Members maintained by the company or the Register of Beneficial Owners maintained by the depositories. Only those members or beneficial owners whose names appear in these registers at the closure of business hours on the record date will be entitled to receive the payment. The actual payout will be subject to the deduction of tax at source (TDS) at rates applicable under prevailing tax laws.

What This Means for Shareholders

The fixation of the record date marks a critical procedural step in the dividend payment process. For investors looking to benefit from this payout, it is essential to hold the shares before the market closes on August 18, 2026. Given the high dividend percentage relative to the face value, this distribution represents a significant return for long-term holders. The timeline allows shareholders approximately one week between the record date and the AGM, providing a window for final portfolio adjustments if necessary. The company’s commitment to a substantial dividend payout reflects its liquidity position and strategic intent to reward shareholders consistently.