MGL

Mahanagar Gas Ltd.

NSE: MGL

BSE: 539957

Sector: Oil, Gas & Consumable Fuels

Industry Group: Gas

Industry: LPG/CNG/PNG/LNG Supplier

1,117.60+23.7 (+2.17%)

9 Jul, 10:59 AM

Overview

Analysis Statements Technicals Forecast Peers Resources News

Stock Scores

Quality Score

80.3 / 100

Value Score

85.0 / 100

Price Momentum Score

42.9 / 100

QVM Score

87.4 / 100

Key Metrics

Market Cap

10805.30

P/E (TTM)

12.85

P/B

1.68

P/S (TTM)

1.31

EV/EBITDA

6.72

CAPE (5Y)

11.89

ROE (TTM)

13.67

ROCE (TTM)

16.31

ROA (TTM)

9.75

Avg 3Y ROE

20.04

Earnings 3Y CAGR

2.11

Sales 3Y CAGR

9.39

Sales 5Y CAGR

30.81

Debt/Equity

0.03

Consensus TP

1350.00

Strong Buy %

30.00

Promoter Holding

32.50

Pledged %

0.00

Stock Analysis

Fundamental analysis overview of Mahanagar Gas Ltd. covering key investment insights, growth drivers, risk factors, and potential red flags.

Views

Red Flags

Positive

Stock is cheap and PE TTM is at a discount to industry median

PE TTM of 12.85 indicates that the stock is cheap on a standalone basis. Discount to industry median P/E is decent at -35.59%

What is P/E Ratio?

Median: 19.95

Value 12.85

10.41117.18

Moderate revenue growth and above median growth of industry

The company delivered moderate revenue growth of 13.52% for 12-month ended 31 Mar 2026 and the growth was 4.23 percentage points higher than median growth of industry

What is Sales growth (1Y)?

Median: 9.29

Value 13.52

-14.6949.55

Low Debt to Equity, not much change from last year

The company has low Debt to Equity of 0.03 as on 31 Mar 2026 and Debt to Equity remained same in the last 1 year

What is Debt to Equity?

Company's earnings are of high quality

Earnings quality score of 72.1 indicates that the company's earnings are of high quality. Earnings quality is measured using combination of earnings persistence, probability of manipulation and earnings to cash conversion

What is Earnings quality score?

72.1 / 100

Consistently pays dividend

The company has not missed dividend payments once in the last 10 financial years

What is Dividend streak?

Company is net cash

The company is net cash i.e., cash and cash equivalents exceed total debt indicating a healthy balance sheet

What is Net Debt ?

Negative

Analysts have been downgrading forward EPS estimates

Analyst EPS estimate (consensus) for forward EPS has decreased by -13.61% in the last 3 months, indicating weak earnings momentum

What is Earnings upgrade (3M)?

Moderate ROE but declining trend

The company reported moderate ROE of 13.67% for 12-month ended 31 Mar 2026 but ROE declined by -523 bps from 1 year ago

What is ROE (FY)?

Moderate operating margin but declining trend

The company reported moderate operating margin of 12.62% for 12-month ended 31 Mar 2026 but operating margin declined by -415 bps from 1 year ago

What is Operating profit margin?

Low EPS growth and lower than median growth of industry

The company delivered moderate EPS growth of -19.17% for 12-month ended 31 Mar 2026 and the growth was 19.33 percentage points lower than median growth of industry

What is EPS growth (1Y)?

Neutral

Moderate dividend yield

The company has a moderate dividend yield of 2.74%

What is Dividend yield?

Financial Snapshot

See detailed analysis

Multi-year trends for Mahanagar Gas Ltd. covering revenue, net profit, ROE, and EBITDA for a quick view of financial health over time.

Net Revenue FY

Profit After Tax FY

ROE FY

EBITDA FY

Mahanagar Gas Ltd. Shareholding Pattern

Quarterly breakdown of Mahanagar Gas Ltd. ownership including promoter, FII, DII, mutual fund, and public holdings as disclosed to NSE/BSE.

	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Total Promoter	32.51	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	32.50	32.50	32.50	32.50	32.50
Indian Promoter	32.51	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	32.50	32.50	32.50	32.50	32.50
Foreign Promoter	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Institutions	58.31	58.61	55.72	57.65	58.28	57.98	57.18	54.37	52.32	51.87	53.95	55.34	55.88	57.54	56.61	58.08	57.94	58.16	59.66	56.85	57.58	58.00	56.48	55.72	55.14
Mutual Funds / UTI	7.91	8.17	7.57	4.71	3.49	4.87	4.08	5.45	3.74	2.76	2.59	2.44	1.81	2.15	1.70	3.98	5.18	5.24	5.13	10.27	13.27	10.86	11.19	9.35	8.82
FI/Bank/Insurance	8.83	10.19	12.18	12.96	13.26	13.09	13.31	13.54	13.48	13.16	12.89	13.10	13.07	12.64	13.80	12.74	11.73	11.05	10.09	10.58	10.29	11.21	10.82	10.57	11.35
Govt	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	10.00	10.00	10.00	10.00	10.00	10.00
FII	31.28	29.92	25.63	29.56	31.11	29.59	29.38	25.32	24.98	25.81	28.37	29.73	30.95	32.38	30.51	30.85	30.54	31.49	34.20	25.75	23.76	25.48	23.59	24.89	24.13
Other Institutions	0.29	0.34	0.35	0.42	0.42	0.43	0.41	0.06	0.13	0.13	0.10	0.07	0.05	0.36	0.60	0.51	0.49	0.38	0.24	0.25	0.26	0.45	0.88	0.91	0.84
Non-Institution	9.19	8.89	11.78	9.85	9.22	9.52	10.32	13.13	15.18	15.63	13.55	12.16	11.60	9.96	10.89	9.42	9.55	9.34	7.84	10.65	9.92	9.50	11.02	11.78	12.35
Bodies Corporate	0.67	0.51	0.48	0.46	0.50	0.44	0.65	0.76	0.80	1.23	0.59	0.61	0.54	0.45	0.56	0.51	0.56	0.53	0.58	1.08	0.99	0.64	0.66	0.62	0.74
Others (incl. Retail) No. of shareholders	8.52 1,19,276	8.38 1,22,675	11.30 1,66,278	9.39 1,51,552	8.72 1,47,567	9.08 1,53,000	9.67 1,63,100	12.37 1,91,568	14.38 2,17,310	14.40 2,13,336	12.96 1,98,890	11.55 1,80,542	11.06 1,67,083	9.51 1,53,745	10.33 1,52,888	8.91 1,40,912	8.99 1,48,945	8.81 1,46,796	7.26 1,41,980	9.57 1,73,133	8.93 1,66,906	8.86 1,65,789	10.36 1,77,793	11.16 1,78,988	11.61 1,83,649

Holdings and Presence

Indices and prominent investors with a stake in this stock.

Index Presence

#	Index	Weight	Rank
1	Nifty Smallcap250 Quality 50	1.62%	27 / 50
2	Nifty Smallcap 250	0.32%	129 / 249
3	Nifty 500 Momentum Quality 50	0.25%	50 / 50
4	Nifty 500	0.03%	373 / 499
5	Nifty Total Market	0.03%	398 / 749

Bulk, Block and Insider Trades

Recent bulk deals, block deals, and insider trading activity in Mahanagar Gas Ltd. shares as reported to NSE and BSE.

Name	Date	Type	Price	Qty.	Value
STICHTING CUST ROBECO INST RE:CALYP	09 Apr 2024	sell	₹ 1,483.10	1.33 lac	₹ 19.74 cr
STICHTING PENSIOENFONDS RAIL & OPENBAAR VERVOER	09 Apr 2024	buy	₹ 1,483.10	1.33 lac	₹ 19.74 cr
Ishares Core Emerging Markets Mauritius Co	17 Oct 2022	sell	₹ 808.40	2.76 lac	₹ 22.33 cr
Ishares Core Msci Emerging Markets Etf	17 Oct 2022	buy	₹ 808.40	2.76 lac	₹ 22.33 cr
Ishares India Sc Mauritius Company	17 Oct 2022	sell	₹ 808.40	30.29 k	₹ 2.45 cr
Ishares Msci India Small-Cap Etf	17 Oct 2022	buy	₹ 808.40	30.29 k	₹ 2.45 cr
Ishares Core Emerging Markets Mauritius Co	11 Oct 2022	sell	₹ 806.85	1.34 lac	₹ 10.84 cr
Ishares Core Msci Emerging Markets Etf	11 Oct 2022	buy	₹ 806.85	1.34 lac	₹ 10.84 cr
Ishares India Sc Mauritius Company	11 Oct 2022	sell	₹ 806.85	14.73 k	₹ 1.19 cr
Ishares Msci India Small-Cap Etf	11 Oct 2022	buy	₹ 806.85	14.73 k	₹ 1.19 cr

Corporate Actions

History of Mahanagar Gas Ltd. dividends, bonus issues, stock splits, rights issues, and other corporate events.

Dividend₹ 12/share
Record date: 13th Feb 2026Ex-date: 13th Feb 2026
Announced on: 7th Feb 2026
Dividend₹ 18/share
Record date: 14th Aug 2025Ex-date: 14th Aug 2025
Announced on: 6th May 2025
Dividend₹ 12/share
Record date: 3rd Feb 2025Ex-date: 3rd Feb 2025
Announced on: 20th Jan 2025
Dividend₹ 18/share
Record date: 14th Aug 2024Ex-date: 14th Aug 2024
Announced on: 9th May 2024
Dividend₹ 12/share
Record date: 5th Feb 2024Ex-date: 5th Feb 2024
Announced on: 23rd Jan 2024

Company Profile

Overview of Mahanagar Gas Ltd. covering business description, industry classification, key management, financial ratios, and listed exchange details.

Mahanagar Gas Limited is an India-based natural gas distribution company. The Company is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane and Raigad districts of Maharashtra. It operates through the selling of the natural gas segment. It offers...

Key personnel

Mr. Rajesh D. Patel

Chief Financial Officer, Vice President - Finance and R&T

Mr. Atul Prabhu

Company Secretary and Compliance Officer

Shri. Deepak GuptaD

Non-Executive Chairman of the Board

Mr. Ajay SinhaD

Deputy Managing Director, Additional Director

Dr. Ponnusamy AnbalaganD

Non-Executive Non-Independent Nominee Director

Mr. Harish Kumar AgarwalD

Non-Executive Independent Director

Mr. Mahesh Kumar GuptaD

Non-Executive Independent Director

Shri. Pankaj KuchhalD

Additional Non-Executive Independent Director

View all

Incorporated on

08 May 1995

Last Annual

31 Mar 2026

Last Interim

31 Mar 2026

No. of Employees

IPO date

01 Jul 2016

Free Float

5,67,95,819

Website

https://www.mahanagargas.com/

Phone no.

+912266785000

Address

MGL HOUSE BLOCK NO.G-33, BANDRA-KURLA COMPLEX, BANDRA (E), , 400051, India

Frequently Asked Questions

What is the current share price of Mahanagar Gas Ltd.?

The current share price of Mahanagar Gas Ltd. is ₹ 1,117.60 as of 9 Jul 2026.

What is the market capitalisation of Mahanagar Gas Ltd.?

The market capitalisation of Mahanagar Gas Ltd. stands at ₹ 10,805.30 Cr.

What is the PE ratio of Mahanagar Gas Ltd.?

The Price-to-Earnings (PE) ratio of Mahanagar Gas Ltd. is 12.85 as of the latest trailing twelve months data.

What is the ROE and ROCE of Mahanagar Gas Ltd.?

Mahanagar Gas Ltd. has a Return on Equity (ROE) of 13.67% and a Return on Capital Employed (ROCE) of 16.31% as per the latest financial reports.

What is the 52-week high and low of Mahanagar Gas Ltd.?

The 52-week high of Mahanagar Gas Ltd. is - and the 52-week low is -.

What is the dividend yield of Mahanagar Gas Ltd.?

The dividend yield of Mahanagar Gas Ltd. is 2.74% based on the current market price.

What is the FII and DII holding in Mahanagar Gas Ltd.?

Foreign Institutional Investors (FII) hold 24.13%, Domestic Institutional Investors (DII) hold 20.17% and retail/public investors hold 11.61% of Mahanagar Gas Ltd. shares.

What sector does Mahanagar Gas Ltd. belong to?

Mahanagar Gas Ltd. operates in the Oil, Gas & Consumable Fuels sector. 70% of analysts have a Buy or Strong Buy rating on Mahanagar Gas Ltd. with a consensus target price of ₹ 1,350.00, implying 23.41% upside from current levels.

What is the beta of Mahanagar Gas Ltd.?

The beta of Mahanagar Gas Ltd. is 0.93, indicating its price volatility relative to the broader market. Over the past 1 year, Mahanagar Gas Ltd. has delivered an absolute return of -26.25%.

What is the RSI of Mahanagar Gas Ltd.?

The 14-day Relative Strength Index (RSI) of Mahanagar Gas Ltd. is 41.82, placing it in the neutral zone. An RSI above 70 is considered overbought and below 30 is considered oversold.

Mahanagar Gas Ltd.

Stock Scores

Key Metrics

Share Price

Stock Analysis

Financial Snapshot

Mahanagar Gas Ltd. Shareholding Pattern

Holdings and Presence

Bulk, Block and Insider Trades

Corporate Actions

Company Profile

Frequently Asked Questions

Holdings and Presence

Stock Analysis

Company Profile

Corporate Actions