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Latest news about Mahanagar Gas

Mahanagar Gas Curtails Industrial Supply Following Government Order on Gas Priority 8 days ago

Mahanagar Gas has curtailed gas supply to industrial and commercial customers following the Natural Gas (Supply Regulation) Order, 2026, which prioritizes domestic and transport sectors. The government order, issued due to geopolitical developments disrupting LNG shipments through the Strait of Hormuz, establishes a four-tier priority system with industrial customers receiving reduced allocations.

Eastspring Investments Becomes Substantial Shareholder in Mahanagar Gas Limited with 5.01% Stake 8 days ago

Mahanagar Gas Acquires 26% Stake in FPEL Reliant for ₹3.89 Crore Solar Initiative 10 days ago

GAIL (India) Limited Announces Deepak Gupta as Chairman and Managing Director Mar 01, 2026

Mahanagar Gas Q3FY26 Results: Volume Growth Accelerates Amid Strategic Portfolio Management Feb 16, 2026

More news about Mahanagar Gas

09Feb 26

Mahanagar Gas Q3FY26 Results: Revenue Grows 11.6% YoY, Releases Investor Presentation

Mahanagar Gas delivered mixed Q3FY26 results with revenue growth of 11.58% to ₹2,265.97 crore offset by 9.43% decline in net profit to ₹201.97 crore. The company released detailed investor presentation highlighting infrastructure spanning 45,691 sq km, 491 CNG stations, and serving 30.70 lakh PNG connections, while declaring ₹12 interim dividend with February 13, 2026 record date.

29Jan 26

Mahanagar Gas Limited Schedules Board Meeting for February 07, 2026 to Approve Q3FY26 Results and Consider Interim Dividend

Mahanagar Gas Limited has scheduled a board meeting for February 07, 2026, to approve unaudited financial results for the quarter and nine months ended December 31, 2025, and consider interim dividend declaration for FY2025-26. The company has implemented trading window restrictions for designated persons from January 01, 2026, until 48 hours post-results declaration, ensuring compliance with SEBI insider trading regulations.

16Nov 25

Mumbai CNG Supply Hit: GAIL Pipeline Damage Disrupts Auto Services

Mumbai's CNG supply has been severely disrupted due to damage to GAIL's main gas pipeline inside the RCF compound. The incident has affected Mahanagar Gas's City Gate Station at Wadala, impacting transportation services across Mumbai, Thane, and Navi Mumbai. Most autorickshaws, taxis, and some public buses are affected. While residential piped gas supply remains prioritized, commuters are facing significant inconvenience. The timeline for repairs is currently unknown.

31Oct 25

Mahanagar Gas Shifts Focus to Volume Growth with Major CNG Station Expansion

Mahanagar Gas Limited (MGL) announces a strategic shift towards volume growth over margin maintenance. The company plans to open a new CNG station with 55-56 dispensing arms by March-April, aiming to expand market share and offset recent profitability pressures. Despite revenue growth of 14.73% YoY in Q2 FY26, MGL faced a 32.58% decline in PAT and an 18.27% decrease in EBITDA. The company's extensive infrastructure includes over 8,062 km of pipeline network and 485 CNG filling stations, serving 1.22 million CNG vehicles and 2.95 million PNG households.

29Oct 25

Mahanagar Gas Q2 Net Profit Declines 41% to 1.9 Billion Rupees

Mahanagar Gas Limited (MGL) reported a significant decline in its Q2 financial performance. Net profit fell 41% to 1.90 billion rupees, below analyst estimates of 2.63 billion rupees. Revenue slightly decreased to 22.60 billion rupees. EBITDA dropped 29.90% to 3.40 billion rupees, with EBITDA margin compressing to 14.99% from 22.47%. Despite challenges, MGL's total gas sales volume increased by 9.91% year-over-year for the six months ended September 30, with CNG and PNG volumes growing by 7.93% and 15.12% respectively.

16Oct 25

Mahanagar Gas Seeks Shareholder Approval for Key Director Appointments

Mahanagar Gas Limited (MGL) has initiated a postal ballot process to appoint Mr. Ajay Sinha as Deputy Managing Director and Mr. Pankaj Kuchhal as an Independent Director. Mr. Sinha's appointment is for a five-year term from August 23, 2025, while Mr. Kuchhal's is for three years from the same date. The e-voting period is set from October 19 to November 17, 2025, with results to be declared by November 19, 2025. Mr. Sinha brings over three decades of Oil and Gas industry experience, while Mr. Kuchhal has 38 years of cross-functional experience in the downstream Oil & Gas sector. The appointments aim to strengthen MGL's leadership and governance structure.

09Sept 25

ONGC Fire Disrupts Gas Supply; MGL Prioritizes PNG Over CNG in Mumbai

A fire at ONGC's Uran gas processing plant has disrupted gas supply to Mumbai, impacting Mahanagar Gas Limited's operations. MGL is prioritizing PNG supply to domestic consumers but warns of potential CNG availability issues across the city due to low pipeline pressure. Industrial and commercial customers are urged to switch to alternative fuels temporarily. Full restoration of gas supplies is expected once ONGC resumes normal operations, though no specific timeline has been provided.

26Aug 25

MGL Faces Rs. 54.33 Crore GST Liability, Plans Appeal to Tribunal

Mahanagar Gas Limited (MGL) has received a GST appeal order confirming a liability of Rs. 54.33 crore, plus interest and a 100% penalty, for the period July 2017 to March 2022. The liability relates to non-payment of GST under Reverse Charge Mechanism on charges paid to local bodies for road digging to lay pipelines. MGL plans to appeal to the GST Appellate Tribunal, expressing confidence in its case and expecting no outflow of economic resources.

22Aug 25

Mahanagar Gas Bolsters Leadership: Ajay Sinha and Pankaj Kuchhal Join Board

Mahanagar Gas Limited (MGL) has announced two key appointments to its Board of Directors. Ajay Sinha, with over 30 years of experience in the Oil and Gas industry, has been appointed as Deputy Managing Director for a five-year term starting August 23, 2025. Pankaj Kuchhal, bringing 38 years of downstream Oil & Gas experience, has been appointed as a Non-Executive Independent Director for a three-year term from the same date. Both appointments are subject to shareholder approval. These changes come as Sanjay Shende steps down from the Deputy Managing Director position.

16Aug 25

Mahanagar Gas Completes Merger with Subsidiary, Boosts Authorized Capital to Rs 2,800 Crore

Mahanagar Gas Limited (MGL) has finalized its merger with wholly-owned subsidiary Unison Enviro Private Limited (UEPL), effective August 16, 2025. The merger, approved by NCLT Mumbai, results in UEPL's dissolution and integration into MGL. As part of the process, MGL increased its authorized share capital to Rs 2,800 crore, comprising 28 crore shares with a face value of Rs 10 each. The company has complied with all regulatory requirements, making necessary disclosures to stock exchanges.

30Jul 25

Mahanagar Gas Q1 FY26 Results: Net Profit Surges 29% to ₹324 Crores on Strong Volume Growth

Mahanagar Gas Limited (MGL) reported robust Q1 FY26 financial results. Overall gas sales volume increased by 9.61% year-on-year to 4.23 mmscmd. EBITDA from operations rose 28% quarter-on-quarter to ₹485.00 crores, while net profit after tax grew 29% to ₹324.00 crores. CNG sales volume increased by 7.54% year-on-year, and industrial and commercial sales surged 26.09%. The company expanded its infrastructure, adding 16,348 domestic household connections and 84 industrial and commercial customers. MGL plans a CAPEX of ₹1,100-1,300 crores for the next two years and aims to add 80 new CNG stations in the current fiscal year.

24Jul 25

Mahanagar Gas Anticipates Higher Profit Margins Amid Favorable Gas Price Dynamics

Mahanagar Gas Limited (MGL) expects improved profit margins in the upcoming quarter due to lower gas prices and potentially higher Brent crude prices. The company reported solid financial growth in Q1 FY26, with revenues increasing by 24.30% and PAT rising by 13.98% year-over-year. MGL's operational metrics show positive trends, with total gas sales volume reaching 4.23 million SCM and CNG sales volume growing to 2.98 million SCM. The company has expanded its infrastructure to over 7,539 km of pipeline network and 385 CNG filling stations, serving 1.13 million CNG vehicles and 2.85 million PNG households.

24Jul 25

Mahanagar Gas Projects Robust Volume Growth Across Business Segments

Mahanagar Gas Limited (MGL) has announced ambitious growth projections for its business segments. The company expects 30% annual volume growth for UEPL over the next 2-3 years and 15-30% growth for GA3 operations. MGL received approval for the merger with UEPL and reported robust Q1 financial results with 24.30% YoY revenue growth. The company's infrastructure includes over 7,539 km of pipeline network, 385 CNG filling stations, and serves 2.85 million PNG households and 1.13 million CNG vehicles.

23Jul 25

Mahanagar Gas Receives NCLT Approval for Subsidiary Amalgamation

Mahanagar Gas Limited (MGL) has received NCLT approval for the amalgamation of its wholly-owned subsidiary, Unison Enviro Private Limited (UEPL). The NCLT order was pronounced on July 9, 2025, and MGL received the certified copy on July 23, 2025. The scheme will become effective upon filing with the Registrar of Companies. This development follows previous disclosures made by the company regarding the amalgamation scheme.

23Jul 25

Mahanagar Gas Reports 24% Revenue Growth in Q1 FY26 Results

Mahanagar Gas Limited (MGL) has reported strong financial results for Q1 FY26. Revenue increased by 24.30% year-over-year to ₹1,975.92 crore. Profit after tax (PAT) grew by 13.98% to ₹324.32 crore. EBITDA rose by 15.98% to ₹485.36 crore, although EBITDA margins slightly declined. MGL's operational performance shows expansion with 7,539 km of pipeline, 385 CNG stations, serving 1.13 million CNG vehicles and 2.85 million PNG household connections. The sales composition is dominated by CNG at 70.50%, followed by Domestic PNG at 13.45%.

22Jul 25

Mahanagar Gas Reports Robust Q1 Performance with 24% Revenue Growth

Mahanagar Gas Limited (MGL) announced impressive Q1 FY2025-26 results on July 22, 2025. Revenue surged 23.80% to ₹2,159.72 crore, exceeding analyst estimates. Net profit increased 13.98% to ₹324.32 crore. Total sales volume grew 9.61%, with CNG and PNG volumes up 7.54% and 14.89% respectively. EBITDA rose 15.98% to ₹485.36 crore. The company attributes performance to increased demand and operational efficiencies. MGL faces ongoing legal proceedings with GAIL regarding transportation tariff.

10Jul 25

NCLT Greenlights Mahanagar Gas Ltd's Merger with Unison Enviro

The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved the Scheme of Amalgamation between Mahanagar Gas Ltd (MGL) and its wholly owned subsidiary, Unison Enviro Private Ltd. The order was passed on July 9. The merger will be effective once both entities file the certified copy of the order with the Registrar of Companies. This strategic move aims to streamline operations and enhance efficiency within the MGL group.

04Jul 25

MGL Faces Potential ₹0.50 per SCM Impact from PNGRB's New Draft Regulations

Mahanagar Gas Limited (MGL) is expected to experience a negative impact of approximately ₹0.50 per Standard Cubic Meter (SCM) due to new draft regulations proposed by the Petroleum and Natural Gas Regulatory Board (PNGRB). These regulations are likely to affect the operational costs and profitability of city gas distribution companies. The specific details of the regulations have not been disclosed, but their potential impact on MGL's business model is being closely examined. As a major player in the Mumbai Metropolitan Region, MGL may need to make strategic adjustments to mitigate the potential financial strain.

07May 25

Mahanagar Gas Surpasses Q4 Expectations, Announces Dividend

Mahanagar Gas Limited reported impressive Q4 results, exceeding market estimates. Net profit rose to ₹2.50 billion, up 11.11% from the previous quarter and 18.48% above expectations. Revenue increased to ₹20.40 billion, showing 5.70% year-over-year growth and 14.35% above estimates. The company declared a dividend of ₹18.00 per equity share, demonstrating strong financial performance and shareholder value creation in the natural gas distribution sector.

06May 25

Mahanagar Gas Surpasses Expectations with Strong Q4 Results, Announces Dividend

Mahanagar Gas Limited (MGL) has exceeded analyst expectations in its Q4 FY2024-25 results. The company reported a net profit of ₹252.20 crore, up 11.90% quarter-on-quarter, and revenue of ₹1,865.00 crore. EBITDA grew by 20.50% to ₹378.40 crore, with an improved operating margin of 20.30%. MGL's board has recommended a final dividend of ₹18.00 per share, bringing the total dividend for the year to ₹30.00 per share.

04May 25

Mahanagar Gas Ltd Sets Date for Q4 and FY 2024-25 Results, Dividend Decision Pending

Mahanagar Gas Ltd (MGL) has announced May 6, 2025, as the date for releasing its Q4 and FY2024-25 financial results. The board will consider a final dividend declaration on the same day. An earnings call is scheduled for May 7, 2025. The company has also implemented a trading window closure for designated persons until 48 hours after the results announcement to prevent insider trading.

15Apr 25

Mahanagar Gas Faces Profitability Challenges as APM Gas Allocation Reduced by 18%

Mahanagar Gas Limited (MGL) has announced an 18% reduction in its Administered Pricing Mechanism (APM) gas allocation, effective April 16, 2023. The company is replacing the reduced volume with New Well Gas or Well Intervention gas, which is expected to adversely impact its profitability. This change aligns with the Ministry of Petroleum and Natural Gas's policy guideline issued in August 2022. MGL is exploring measures to mitigate the impact of this allocation change.

11Apr 25

Mahanagar Gas Limited Plans Shift to More Expensive Gas Supply

Mahanagar Gas Limited (MGL) is preparing to transition from its current Administered Pricing Mechanism (APM) gas supply to more expensive gas from new wells. This strategic move could impact MGL's cost structure, pricing strategy, and profit margins. While the new source may offer benefits in supply reliability or quality, it presents challenges in maintaining competitive rates for customers. The transition highlights the evolving dynamics of the natural gas market and the strategic decisions required for sustainable operations.

09Apr 25

Mahanagar Gas Ltd Hikes CNG and PNG Prices in Mumbai Metropolitan Region

Mahanagar Gas Limited (MGL) has increased CNG prices by ₹1.50 per kg to ₹79.50 per kg and PNG prices by ₹1 per unit to ₹49.00 per kg in the Mumbai Metropolitan Region. The price hike follows a 4% increase in APM gas prices by the government on April 1. MGL's stock price dropped 5.00% following the announcement.