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Latest news about Mahanagar Gas

MGL Faces Rs. 54.33 Crore GST Liability, Plans Appeal to Tribunal Aug 26, 2025

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.

Mahanagar Gas Bolsters Leadership: Ajay Sinha and Pankaj Kuchhal Join Board Aug 22, 2025

Mahanagar Gas Completes Merger with Subsidiary, Boosts Authorized Capital to Rs 2,800 Crore Aug 16, 2025

Mahanagar Gas Q1 FY26 Results: Net Profit Surges 29% to ₹324 Crores on Strong Volume Growth Jul 30, 2025

Mahanagar Gas Anticipates Higher Profit Margins Amid Favorable Gas Price Dynamics Jul 24, 2025

More news about Mahanagar Gas

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.