Mahanagar Gas Limited share price

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 comprisi…Read more

Website NSE हिंदी में BSE

Oil Gas & Consumable FuelsUtilities - Regulated GasNifty 500 Nifty Smallcap 250NSE: MGLISIN INE002S01010

16 Oct 2026, 3:29 PM IST₹1,054.00▲ 6.60 (0.63%)

Market Cap₹ 10,411 Cr.
Current Price₹ 1,054.00
High / Low₹ 1,314 / 900
Stock P/E14.6
Book Value₹ 651
Dividend Yield3.44 %
ROCE16.5 %
ROE13.70 %
Face Value₹ 10.0

More figures (10)

EPS (TTM)₹ 72.42
Price / Book1.62
OPM12.8 %
Debt / Equity0.03
Sales growth (3Y)9.3 %
Profit growth (3Y)2.1 %
Promoter holding42.5 %
EV / EBITDA7.3
Beta0.73
All-time high₹ 1,988

Price chart

Price on NSE 50 DMA 200 DMA Volume

Returns	1M	3M	6M	YTD	1Y	3Y CAGR	5Y CAGR
MGL	-2.42%	-5.31%	-3.45%	-7.23%	-18.80%	-2.44%	-0.29%
Nifty 50	-0.31%	-3.85%	-4.34%	-11.42%	-9.53%	+5.46%	+4.76%

Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.

Quick take

Mahanagar Gas Limited is in the Utilities - Regulated Gas industry (Utilities), with a market value of ₹10,411 crore.
It trades at 14.6 times its last 12 months' earnings and 1.6 times book value.
Revenue grew 9.3% a year over the last 3 years, profit 2.1% a year.
Return on equity was 13.7% and return on capital employed 16.5% in the latest year.
Debt was 0.03 times shareholders' equity.
The share price is 19.8% below its 52-week high and down 18.8% over one year.
Promoters and insiders hold about 42.5%; institutions about 35.5%.

Pros

Strong return on equity: 20.1% on average over the last 3 years.
Company is almost debt-free (debt is 0.03 times equity).
Pays a healthy dividend: about 35% of profit last year.

Cons

Latest quarter (Jun 2026): profit fell 39% from a year ago.

Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.

AI analysis

Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.

About Mahanagar Gas Limited

Employees: 729
Head office: Mumbai
NSE industry: Oil Gas & Consumable Fuels

UtilitiesOil Gas & Consumable FuelsUtilities - Regulated Gas

Part ofNifty 500 Nifty Smallcap 250

S.No.	Company	CMP ₹	P/E	Mar Cap ₹ Cr	Div Yld %	NP Qtr ₹ Cr	Qtr Profit Var %	Sales Qtr ₹ Cr	Qtr Sales Var %	ROCE %	ROE %	P/B	OPM %	Debt / Eq	Prom. Hold. %	Sales ₹ Cr	Sales Var 3Yrs %
1.	Mahanagar Gas	1,054.00	14.6	10,411	3.44	193	-39.38	2,599	13.88	16.5	13.7	1.62	12.8	0.03	42.50	9,065	9.3
2.	GAIL (India)	168.10	11.2	1,10,527	3.25	4,665	87.23	41,198	13.06	9.1	8.7	1.24	5.4	0.28	58.98	1,41,598	-0.9
3.	Adani Total Gas	579.35	100.8	63,717	0.04	142	-8.33	1,754	30.74	13.6	14.5	13.10	16.3	0.59	79.77	5,856	10.4
4.	Indraprastha Gas	143.06	15.7	20,028	2.07	240	-43.97	4,587	17.19	16.3	14.0	1.74	8.5	0.01	50.00	16,107	4.6
	Median: 4 Co.	373.73	15.1	41,873	2.66	217	-23.85	3,593	15.54	15.0	13.9	1.68	10.7	0.16	54.49	12,586	7.0

Companies in the same industry; the median covers every company in it that we hold figures for. Tap a heading to sort. Sorting and comparing are ways to explore data, not recommendations.

Quarterly Results

Consolidated figures in ₹ crore /

₹ Cr	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,724	1,771	1,832	1,963	2,032	2,152	2,282	2,256	2,268	2,259	2,599
YOY Sales Growth %					17.85%	21.51%	24.56%	14.95%	11.64%	4.95%	13.88%
	1,275	1,376	1,395	1,549	1,707	1,757	1,781	1,919	1,916	1,999	2,256
Material Cost %	54%	55%	55%	57%	62%	60%	57%	63%	63%	66%	67%
Employee Cost %	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%
Other Expenses %	19%	21%	20%	19%	20%	21%	19%	20%	20%	21%	18%
Operating Profit	449	395	437	413	325	395	501	338	352	260	343
OPM %	26%	22%	24%	21%	16%	18%	22%	15%	16%	12%	13%
	48	44	36	47	42	42	32	29	30	29	30
Exceptional items						-1
Interest	3	6	3	3	3	4	5	5	6	5	6
Depreciation	68	88	83	85	91	93	96	104	104	106	109
Profit before tax	426	346	386	372	272	339	432	258	272	178	258
	26%	27%	25%	24%	19%	27%	26%	25%	26%	26%	25%
Current tax	99	81	91	87	41	77	100	56	59	24	48
Deferred tax	9	12	7	1	10	15	13	9	11	23	17
	317	252	289	284	221	247	318	191	201	130	193
Profit from associates							-1	-2	-1	-2	-0
Minority share			-0	-0	-0	-0	-0	-0	-0	-0	-0
Profit to shareholders	317	252	289	284	221	247	318	191	201	130	193
YOY Profit Growth %					-30.27%	-2.08%	10.05%	-32.54%	-9.07%	-47.52%	-39.38%
EPS in Rs	32.11	25.54	29.23	28.70	22.39	25.01	32.18	19.37	20.36	13.15	19.54
Raw filing

₹ Cr	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,690	1,729	1,724	1,719	1,745	1,877	1,929	2,039	2,160	2,255	2,266	2,258	2,598
YOY Sales Growth %		0.66%	-6.24%	-2.98%	3.22%	8.59%	11.91%	18.61%	23.80%	20.13%	17.47%	10.74%	20.29%
	1,169	1,250	1,275	1,325	1,326	1,479	1,615	1,661	1,674	1,917	1,914	1,998	2,255
Material Cost %	50%	52%	54%	55%	55%	58%	62%	60%	57%	63%	62%	66%	67%
Employee Cost %	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%
Other Expenses %	18%	18%	19%	20%	19%	19%	20%	20%	19%	20%	20%	21%	18%
Operating Profit	521	479	449	394	418	399	314	378	485	338	352	260	343
OPM %	31%	28%	26%	23%	24%	21%	16%	19%	22%	15%	16%	12%	13%
Other Income	39	44	48	45	40	51	46	46	39	29	29	29	30
Interest	3	2	3	4	3	3	3	4	4	5	6	5	6
Depreciation	62	66	68	78	72	73	79	82	83	104	103	106	109
Profit before tax	496	454	426	357	384	373	278	339	438	258	272	178	259
	26%	25%	26%	26%	26%	24%	19%	26%	26%	25%	26%	26%	25%
Current tax	120	107	99	81	91	87	41	77	100	56	59	24	48
Deferred tax	8	9	9	11	9	3	12	10	13	9	11	22	17
	368	339	317	265	285	283	225	252	324	193	202	132	194
YOY Profit Growth %		106.44%	84.33%	-1.42%	-22.77%	-16.45%	-28.95%	-4.83%	13.98%	-31.62%	-10.38%	-47.69%	-40.28%
EPS in Rs	37.30	34.27	32.11	26.83	28.80	28.63	22.82	25.53	32.83	51.93	20.45	13.35	19.61
Raw filing

Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.

Profit & Loss

Consolidated figures in ₹ crore /

₹ Cr	Mar 2024	Mar 2025	Mar 2026	TTM
	6,914	7,979	9,065	9,382
YOY Sales Growth %		15.40%	13.61%
	5,070	6,409	7,615	8,089
Material Cost %	53%	59%	62%	65%
Employee Cost %	2%	2%	2%	2%
Other Expenses %	19%	20%	20%	20%
Operating Profit	1,844	1,570	1,451	1,293
OPM %	27%	20%	16%	14%
	175	167	120	118
Exceptional items		-1
Interest	13	14	21	22
Depreciation	284	352	410	423
Profit before tax	1,722	1,370	1,140	966
	26%	24%	26%	26%
Current tax	407	296	233
Deferred tax	38	34	61
	1,276	1,040	841	715
Profit from associates			-5	-5
Minority share		-0	-1	-1
Profit to shareholders	1,276	1,041	841	715
YOY Profit Growth %		-18.48%	-19.21%
EPS in Rs	129.21	105.33	85.15	72.42
Dividend Payout %	22%	28%	35%

Compounded Sales Growth

TTM:: 11%

Compounded Profit Growth

TTM:: -33%

Stock Price CAGR

5 Years:: 0%
3 Years:: -2%
1 Year:: -19%

Return on Equity

4 Years:: 20%
Last Year:: 14%

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,453	3,057	3,264	2,338	3,885	6,921	6,862	7,590	9,060	9,377
YOY Sales Growth %		24.62%	6.79%	-28.39%	66.18%	78.15%	-0.85%	10.61%	19.36%
	1,673	2,171	2,212	1,404	2,961	5,737	5,019	6,080	7,609	8,084
Material Cost %	42%	46%	42%	32%	53%	64%	53%	59%	62%	65%
Employee Cost %	3%	2%	2%	4%	2%	2%	2%	2%	2%	2%
Other Expenses %	24%	23%	23%	24%	21%	17%	19%	20%	20%	20%
Operating Profit	780	885	1,053	934	924	1,184	1,843	1,510	1,451	1,293
OPM %	32%	29%	32%	40%	24%	17%	27%	20%	16%	14%
Other Income	58	78	99	81	86	112	175	184	119	118
Interest	0	0	7	7	8	9	12	13	21	22
Depreciation	111	126	162	174	196	231	274	306	409	422
Profit before tax	727	837	984	834	806	1,056	1,733	1,374	1,141	967
	34%	35%	19%	26%	26%	25%	26%	24%	26%	25%
Current tax	212	261	233	198	186	257	407	296	233
Deferred tax	37	29	-43	16	24	8	37	34	61
	478	546	794	620	597	790	1,289	1,045	847	721
YOY Profit Growth %		14.34%	45.23%	-21.92%	-3.65%	32.35%	63.16%	-18.94%	-18.96%
EPS in Rs	48.38	55.31	80.33	62.72	60.43	79.98	130.50	105.78	85.73	105.34
Dividend Payout %						32%	21%	28%	35%

Compounded Sales Growth

5 Years:: 31%
3 Years:: 9%
TTM:: 17%

Compounded Profit Growth

5 Years:: 6%
3 Years:: 2%
TTM:: -34%

Stock Price CAGR

5 Years:: 0%
3 Years:: -2%
1 Year:: -19%

Return on Equity

4 Years:: 20%
Last Year:: 14%

Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.

Balance Sheet

Consolidated figures in ₹ crore, as at 31 March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	99	99	99	99
Reserves	4,035	5,031	5,779	6,329
Borrowings	115	141	201	223
	1,783	1,982	2,223	2,331
Trade payables	322	365	456	514
Minority interest		5	15	14
Current liabilities	1,561	1,700	1,875	1,959
Total Liabilities	6,032	7,253	8,302	8,981
	3,755	4,625	5,573	6,370
Gross block	4,899	6,039	7,308	8,471
Accumulated depreciation	1,144	1,415	1,735	2,101
Goodwill & intangibles	5	456	432	407
CWIP	735	846	1,151	1,385
	1,542	1,783	1,578	1,226
Inventories	34	42	52	63
Trade receivables	294	296	364	459
Cash & equivalents	118	129	152	57
Current assets	2,006	1,908	1,946	1,837
Total Assets	6,032	7,253	8,302	8,981

Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.

Cash Flows

Consolidated figures in ₹ crore, financial years ending March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	969	1,568	1,407	1,162
Profit for the year	790	1,285	1,040	841
Working capital changes	13	94	60	-64
Direct taxes paid	-264	-424	-269	-266
	-649	-1,082	-1,053	-888
Fixed assets purchased	-713	-783	-1,184	-1,076
Fixed assets sold	0	1	7	1
Investments purchased	-7,232	-7,261	-6,414	-6,450
Investments sold	7,250	6,910	6,498	6,621
	-285	-499	-332	-369
Repayment of borrowings		-195
Interest paid		-3	-2
Dividends paid	-252	-277	-296	-296
Net Cash Flow	35	-13	22	-95
Free Cash Flow	256	785	223	87

Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.

Ratios

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE	19.1%	27.7%	18.9%	13.7%
ROCE	23.8%	31.4%	21.5%	16.5%
Operating margin	15.3%	25.2%	16.9%	12.8%
Net margin	12.6%	20.5%	14.4%	10.2%
Debt / equity	0.03	0.03	0.03	0.03
Current ratio	1.29	1.12	1.04	0.94
Debtor days	17	17	18	20
Inventory days	3	4	4	4
Days payable	25	34	33	31
Cash conversion cycle	-5	-13	-11	-7
Working capital days	26	12	4	-5

Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities). Debtor days = receivables ÷ sales × 365; inventory and payable days use cost of goods sold; cash conversion cycle = debtor + inventory − payable days; working capital days = (current assets − current liabilities) ÷ sales × 365.

Shareholding Pattern

Numbers in percentages · as filed with NSE each quarter

Promoters 32.50%
FIIs 23.46%
DIIs 22.26%
Government 10.00%
Public 11.78%

%	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%
	30.85%	30.55%	31.49%	34.20%	25.75%	23.76%	25.48%	23.60%	24.89%	24.14%	23.21%	23.46%
Foreign portfolio investors (Cat. I)	27.96%	27.39%	28.45%	31.12%	24.01%	22.26%	23.44%	21.47%	22.01%	21.99%	21.19%	21.07%
Foreign portfolio investors (Cat. II)	2.89%	3.15%	3.04%	3.08%	1.74%	1.50%	2.04%	2.12%	2.88%	2.14%	2.02%	2.39%
	17.23%	17.40%	16.67%	15.47%	21.10%	23.82%	22.52%	22.89%	20.83%	21.01%	22.53%	22.26%
Mutual funds	3.98%	5.18%	5.24%	5.13%	10.27%	13.27%	10.86%	11.19%	9.35%	8.82%	11.18%	11.98%
Insurance companies	12.74%	11.73%	11.05%	10.09%	10.58%	10.29%	11.21%	10.82%	10.57%	11.35%	10.75%	9.65%
Alternative investment funds	0.51%	0.49%	0.38%	0.24%	0.25%	0.26%	0.45%	0.88%	0.91%	0.84%	0.60%	0.63%
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%
	9.42%	9.55%	9.34%	7.84%	10.64%	9.92%	9.50%	11.02%	11.78%	12.35%	11.75%	11.78%
Retail (up to ₹2 lakh)	7.68%	7.72%	7.44%	6.31%	8.25%	7.60%	7.51%	8.94%	9.70%	10.09%	9.57%	9.69%
HNIs (above ₹2 lakh)	0.30%	0.31%	0.40%	0.20%	0.45%	0.49%	0.48%	0.38%	0.39%	0.34%	0.41%	0.26%
NRIs	0.55%	0.62%	0.59%	0.45%	0.49%	0.49%	0.54%	0.61%	0.62%	0.68%	0.67%	0.71%
Bodies corporate	0.51%	0.56%	0.53%	0.58%	1.08%	0.99%	0.64%	0.66%	0.62%	0.74%	0.64%	0.64%
No. of Shareholders	1,41,617	1,49,718	1,47,540	1,42,738	1,73,905	1,67,650	1,66,589	1,78,576	1,79,761	1,84,373	1,78,033	1,75,638

Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.

Mutual funds & institutions holding Mahanagar Gas

Holder (above 1%)	Stake
Life Insurance Corporation Of IndiaInsurance	5.80%
Parag Parikh Flexi Cap FundMutual fund	4.05%
UTI Value FundMutual fund	1.85%
HDFC Multi Cap FundMutual fund	1.74%
Aditya Birla Sun Life PSU Equity FundMutual fund	1.10%
Bajaj Life Insurance LimitedInsurance	1.03%

As named in the shareholding pattern for Sep 2026 filed with NSE; mutual funds together hold 11.98% of the company. Shareholders below 1% are not named in the filing.

Documents

Announcements

All announcements on NSE →

Annual reports

Credit ratings

Concalls & investor meets

Filings made by the company with NSE; documents open on NSE's website.

Key dates

Results announced: 29 Oct 2026
Ex-dividend date: 18 Aug 2026
Latest quarter: 30 Jun 2026
Financial year end: 31 Mar 2026

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Latest news

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Headlines from news publishers (via Google News) and the filings of the company with NSE; they open on the source website. Headlines with price targets or buy/sell calls are left out. News is for information only and is not a recommendation.

Questions about Mahanagar Gas Limited

What is the share price of Mahanagar Gas Limited today?

Mahanagar Gas Limited (MGL) last traded at ₹1,054.00 on NSE (16 Oct 2026, 3:29 PM IST). Prices may be delayed.

What is the market cap of Mahanagar Gas Limited?

About ₹10,411 crore at the latest price.

What is the P/E ratio of Mahanagar Gas Limited?

About 14.6 times its earnings over the last 12 months.

Is Mahanagar Gas Limited a good investment?

We do not give views on individual shares. Whether any share suits you depends on your goals, time horizon and risk appetite; for long-term goals, a diversified mutual fund is often a simpler way to own shares. Investments in securities markets are subject to market risks.

How can I buy Mahanagar Gas Limited shares?

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Important. Prices from NSE via Yahoo Finance. Quarterly and annual results, shareholding and documents are taken from the filings the company made with NSE; balance sheet, cash flow and valuation figures are compiled by Yahoo Finance; ratios are computed by us from them. Figures may be delayed or revised. This page is for information only: it is not research, a recommendation or an offer to buy or sell any security. Investments in securities markets are subject to market risks; read all related documents carefully before investing. Plenitude Connect Private Limited is an AMFI-registered Mutual Fund Distributor (ARN-130934); share broking is offered through Parshvanath Investments, Authorised Person of Master Capital Services Ltd (SEBI Reg. INZ000210539).

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Mahanagar Gas Limited share price

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About Mahanagar Gas Limited

Peer comparison

Quarterly Results

Profit & Loss

Projection — your assumptions

Related party transactions

Compounded Sales Growth

Compounded Profit Growth

Stock Price CAGR

Return on Equity

Compounded Sales Growth

Compounded Profit Growth

Stock Price CAGR

Return on Equity

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Mutual funds & institutions holding Mahanagar Gas

Documents

Announcements

Annual reports

Credit ratings

Concalls & investor meets

Key dates

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Latest news

In the news

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