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  4. MAHANAGAR GAS LTD.
Mahanagar Gas Ltd.
NSE: MGL | BSE: 539957

Mahanagar Gas Live Share Price Today, Share Analysis and Chart

Mid-range Performer
aboutMahanagar Gas Limited (MGL) is a prominent Indian city gas distribution (CGD) company, established to provide clean energy solutions. It operates primarily in Mumbai, its adjoining areas, and the Raigad district, acting as a sole authorized distribut... Read More
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1048.50-4.50(-0.43%)
175.7K
NSE+BSE Volume

NSE 30 Oct, 2026 3:31 PM (IST)

Portfolio

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My Notes

Board Meeting
The next board meeting for Mahanagar Gas is on 03 Nov 2026 for the purpose of Quarterly Results See details
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42.2 / 100
Mid-range PerformerThese stocks have average quality, financial and technical momentum, indicating a mid range performerView SimilarEmbed DVM
Analyst Price Target
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12

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SWOT Analysis

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Medium rank

11Positive12Negative

47.8%Pass in checklist

045
55
100

PE Valuation Check

Right Now
Overvalued
-13.5%
1 Year Forward
Overvalued
-6.5%
INSIGHTMahanagar Gas is overvalued at both current PE and future earnings estimates.

Mahanagar Gas Stock Price Analysis

Day Price Range

-0.4% 1 Day return
1048.5 (LTP)
1,0311,053.9
LowHigh

Week Price Range

2.5% 1 Week return
1048.5 (LTP)
1,012.61,063.9
LowHigh

Month Price Range

-0.9% 1 Month return
1048.5 (LTP)
1,0041,063.9
LowHigh

52 Week Price Range

-17.9% 1 Year return
1048.5 (LTP)
9001,286.2
LowHigh
View full Price History/Seasonality

Mahanagar Gas Forecaster - Analyst Share Price Target and Estimates

Revenue forecast

Hit

Mahanagar Gas's Revenue was higher than average estimate 3 times in past 3 years

EPS forecast

CURRENT EPS
85.7
AVG. ESTIMATE
78.7
LOW ESTIMATE
58.3
HIGH ESTIMATE
93
CURRENT EPS
AVG. ESTIMATE
Miss

EPS is expected to reduce by 8.2% in FY27

Consensus Recommendation

30 ANALYST Recommendations
BUY

The consensus recommendation from 30 analysts for Mahanagar Gas is BUY

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Mahanagar Gas Technical Analysis

Mahanagar Gas EMA & SMA

Neutral0
4 bullish, 4 bearish
Bullish4
Bearish4
5 Day1047.8
10 Day1045.4
12 Day1045.3
20 Day1047.6
26 Day1050.9
50 Day1064.4
100 Day1081.7
200 Day1112.9

Mahanagar Gas Delivery And Volume

Daily Avg. Delivery Volume %
30 Oct, 202657.2%
Week66.8%
Month67.9%

Mahanagar Gas Active Candlesticks

Hikkake Uptrend
Legend
Positive IndicatorNeutral IndicatorNegative Indicator

Mahanagar Gas Resistance and Support

1044.47
Pivot
First Resistance1057.9
Second Resistance1067.4
Third Resistance1080.8
First Support1035.0
Second Support1021.6
Third Support1012.1
Day RSI48.7
Day MACD-5.6
Day MFI43.9
Day MACD Signal Line-9

Mahanagar Gas Beta

1 Month0.4
1 Year0.9
3 Month0.5
3 Year1.1

Mahanagar Gas Price Change Analysis

↓-0.9%
Over 1 Month
LowHigh
10041063.9
↓-6.4%
Over 3 Months
LowHigh
10041173.2
↓-7.7%
Over 6 Months
LowHigh
10041252
↓-17.9%
Over 1 Year
LowHigh
9001286.2
All Technicals →

Mahanagar Gas Shareholding Pattern/ Ownership

Shareholding Summary

Sep 2026
 
NameCategorySharesShares %
Gail (India) LimitedPromoter32,102,75032.5 %
Cape Ann Global Developing Markets FundFii1,490,9451.5 %
Life Insurance Corporation Of IndiaDii5,729,4715.8 %

HISTORICAL PROMOTER HOLDING

HISTORICAL FII HOLDING

HISTORICAL MF HOLDING

All Shareholding details

Mahanagar Gas Deals - Insider, Bulk, Block and SAST

Client NameDeal TypeActionDateAvg. PriceQuantityExchange
EASTSPRING INVESTMENTS INDIA EQUITY OPEN LIMITEDBulkSell07 Apr 2026957.01725,150BSE
WASHINGTON STATE INVESTMENT BOARDBulkPurchase27 Mar 2026950.42617,784BSE
GRAVITON RESEARCH CAPITAL LLPBulkSell18 Nov 20241133.59519,028NSE
GRAVITON RESEARCH CAPITAL LLPBulkPurchase18 Nov 20241132.71509,428NSE
GRAVITON RESEARCH CAPITAL LLPBulkSell18 Oct 20241560.81578,412NSE
GRAVITON RESEARCH CAPITAL LLPBulkPurchase18 Oct 20241560.41578,412NSE
GRAVITON RESEARCH CAPITAL LLPBulkSell17 Sep 20241909.87587,018NSE
GRAVITON RESEARCH CAPITAL LLPBulkPurchase17 Sep 20241908.83587,018NSE
GRAVITON RESEARCH CAPITAL LLPBulkSell02 Jul 20241774.91568,721NSE
GRAVITON RESEARCH CAPITAL LLPBulkPurchase02 Jul 20241776.59568,721NSE
All deals
All insider trades

Mahanagar Gas Corporate Actions

Mahanagar Gas Dividend history and yield

Mahanagar Gas dividend yields, including actual and adjusted, and dividend history, including announcement, record, and ex-dividend dates. Track Mahanagar Gas dividend yield over time.

#Ex-Date
Dividend AmountDividend TypeRecord DateInstrument Type
118 Aug 2026
18FINAL18 Aug 2026Equity Share
213 Feb 2026
12INTERIM13 Feb 2026Equity Share
314 Aug 2025
18FINAL14 Aug 2025Equity Share
403 Feb 2025
12INTERIM03 Feb 2025Equity Share
514 Aug 2024
18FINAL-Equity Share

Mahanagar Gas Board Meetings

Mahanagar Gas past and upcoming board meetings.

#Ex-Date
PurposeNotes
103 Nov 2026
Quarterly Results-
230 Jul 2026
Quarterly Results-
307 May 2026
Audited Results & Final Dividend-
407 Feb 2026
Quarterly Results & Interim Dividend-
529 Oct 2025
Quarterly Results-
All Corporate Actions

Mahanagar Gas Research Reports

Mahanagar Gas research reports with share price targets, and buy/hold/sell recommendations from top brokers.

#
Date
Broker NameTargetPrice When RecommendedTypeUpsideChange Since RecommendationLinks
131 Jul 2026Motilal Oswal
Target
15601120.5Buy39.22%-6.43%pdf
221 Jun 2026Axis Direct13311245.5Buy6.86%-15.82%pdf
310 Jun 2026Motilal Oswal13901061Buy31.01%-1.18%pdf
426 May 2026Geojit BNP Paribas
Reco
Target
13521103.2Buy22.55%-4.96%pdf
507 May 2026BOB Capital Markets Ltd.12681172.9Hold8.11%-10.61%pdf
All Reports of Mahanagar

Mahanagar Gas Corporate Filings

Mahanagar Gas BSE corporate filings and AGM, press releases, insider trading & SAST, results and corporate actions.

DateAnnouncement TitleDetailsLinks
28 Oct 2026
Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Earnings conference call with research analysts and investors that is scheduled to be held on Wednesday, November 04, 2026 at 04:00 PM (IST) to discuss the financial and operational performance of the Company for the quarter and half year ended September 30, 2026.
PDF
27 Oct 2026
Mahanagar Gas Ltd - 539957 - Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for PPFAS Mutual Fund
PDF
26 Oct 2026
Mahanagar Gas Ltd - 539957 - Board Meeting Intimation for Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026
Mahanagar Gas Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/11/2026 ,inter alia, to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026
PDF
08 Oct 2026
Mahanagar Gas Ltd - 539957 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018
PDF
23 Sep 2026
Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Analyst / Investor Meeting is scheduled to be held on Tuesday, September 29, 2026
PDF
VIEW ALL

Mahanagar Gas DocumentsAsk MarketMind AI

Mahanagar Gas Earnings Call

Mahanagar Gas earnings calls, including management commentary and AI-generated summaries.

DateTitleLinks
07 Aug 2026Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Earnings Call TranscriptLink
31 Jul 2026Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeLink
14 May 2026Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Earnings Call TranscriptLink
16 Feb 2026Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Earnings Call TranscriptLink
09 Feb 2026Mahanagar Gas Results Earnings Call for Q3FY26AudioVideo
view all

Mahanagar Gas Annual Reports

Mahanagar Gas financials, including annual results, balance sheets, and cash flow statements.

DateReport TitleLinks
2026Annual Report Mar-2026Link
2025Annual Report Mar-2025Link
2024Annual Report Mar-2024Link
2023Annual Report Mar-2023Link
2022Annual Report Mar-2022Link

Mahanagar Gas Credit Ratings

Mahanagar Gas credit ratings from CRISIL and leading rating agencies, assessing financial stability, investment grade, and related PDF documentation.

DateRating AgencyCompany NameDescriptionLinks
22 Oct 2026icra ratingsMahanagar Gas LimitedRatings reaffirmed and assigned for enhanced amountLink
26 Mar 2026icra ratingsMahanagar Gas LimitedUpdate on entityLink
26 Nov 2025icra ratingsMahanagar Gas LimitedRatings reaffirmed; Rated amount enhancedLink
02 Oct 2024icra ratingsMahanagar Gas LimitedRatings reaffirmed and rated amount enhancedLink
31 Aug 2023icra ratingsMahanagar Gas LimitedMahanagar Gas Limited: Ratings reaffirmedLink

Mahanagar Gas Investor Presentations

Mahanagar Gas investor presentations, including business updates, financial insights, and strategic initiatives.

DateReport TitleLinks
31 Jul 2026Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Investor PresentationLink
08 May 2026Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Investor PresentationLink
09 Feb 2026Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Investor PresentationLink
30 Oct 2025Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Investor PresentationLink
23 Jul 2025Mahanagar Gas Ltd - 539957 - Announcement under Regulation 30 (LODR)-Investor PresentationLink

Mahanagar Gas - Company Profile

Mahanagar Gas Management Structure

Mahanagar Gas management structure with salaries, total experience, and qualifications.

NAMEDESIGNATIONGROSS REMUNERATION ₹(LAC)AS OFHISTORY & DETAILS
Mr. Rajesh WagleSenior Vice President - Marketing(Marketing Support)-Mar 26
Mr. T. L. SharnagatSenior Vice President(Contact Operations,Procurement),Chief Risk Officer-Mar 26
Mr. Chakrapani AtmakurVice President,Human Resources(CSR)-Mar 26
Mr. Gurvinder SinghVice President(Projects)-Mar 26
Mr. Manas DasVice President(Business Development)-Mar 26
Mr. Sitanshu RoychowdhuryVice President(Operation.,Maintenance)-Mar 26
Mr. Rajesh PatelChief Financial Officer,Vice President(Finance,R & T)-Mar 26
Atul PrabhuCompany Secretary,Compliance Officer-Mar 26

Mahanagar Gas Board of Directors

Mahanagar Gas Board of directors with salaries, total experience, and qualifications.

NAMEPOSITIONGROSS REMUNERATION ₹(LAC)AS OFHISTORY & DETAILS
AJAY SINHAExecutive Director / Deputy Managing Director98.29Mar 26
Malvika SinhaIndependent Non Exe. Director16.2Mar 26
Harish Kumar AgarwalIndependent Non Exe. Director15.6Mar 26
Mahesh Kumar GuptaIndependent Non Exe. Director15.3Mar 26
Pankaj KuchhalIndependent Non Exe. Director7.86Mar 26
Deepak GuptaChairman(Non Exe)&Dir(Non-Ind)-Mar 26
Anbalagan PonnusamyNon Independent Non Executive Director / Nominee-Mar 26
Praveer Kumar SrivastavaManaging Director-Mar 26
Atul PrabhuCompany Sec. & Compli. Officer-Mar 26
Website: www.mahanagargas.com

About the company - Business Profile

Mahanagar Gas Limited (MGL) is a prominent Indian city gas distribution (CGD) company, established to provide clean energy solutions. It operates primarily in Mumbai, its adjoining areas, and the Raigad district, acting as a sole authorized distributor of natural gas in these regions. The company plays a critical role in urban infrastructure by facilitating the shift toward environment-friendly fuels for transportation and domestic use.

Key Points

  • Key Facts: Founded on May 8, 1995, and headquartered in Mumbai, MGL is a joint venture between GAIL (India) Ltd. (32.50%), the Government of Maharashtra (10%), and other institutional and public investors. The company is listed on the BSE and NSE.
  • Operations and Resources: MGL operates five City Gate Stations (CGS) located at Sion, Mahape, Ambernath, Taloja, and Savroli. Its infrastructure includes over 7,465 km of polyethylene (PE) pipelines and 717 km of steel pipelines. As of late 2025, it serves 1.25 million CNG vehicles through 491 CNG stations and provides PNG to over 3 million households.
  • Privatization and Ownership: Originally a joint venture involving GAIL and British Gas (which later exited), MGL remains under the significant influence of GAIL (India) Ltd. and the state government, ensuring strategic alignment with national energy priorities.
  • Market and Significance: MGL holds infrastructure exclusivity in Mumbai (GA-1), Thane Urban (GA-2), and Raigad (GA-3). It has recently expanded its footprint through the acquisition of Unison Enviro Private Limited (UEPL), adding geographical areas like Ratnagiri, Latur, Osmanabad, and Chitradurga.
  • Sustainability and Innovation: The company is diversifying into cleaner energy alternatives, including a Memorandum of Understanding (MoU) with BMC for a Compressed Bio-Gas (CBG) project and a joint venture for battery cell manufacturing and EV space investments.
  • Business Model: MGL’s model focuses on the distribution of gaseous fuels through a piped network. It excels in operational efficiency and cost-effective gas sourcing, leveraging a mix of spot, mid-term, and long-term contracts.
  • Revenue Breakdown: For FY 2023-24, 99.61% of turnover was derived from the sale of Piped Natural Gas (PNG) and Compressed Natural Gas (CNG). The balance was contributed by Liquefied Natural Gas (LNG) sales. Geographically, revenue is concentrated in the Maharashtra and Karnataka regions (via UEPL).
  • Key Products and Technology: Core products include CNG for transport and PNG for domestic, commercial, and industrial use. Technology integration is centered on an enterprise-wide SAP ERP system and SCADA for real-time network management and safety.
  • Employee Trends: As of March 31, 2024, the company employed 446 permanent staff (394 male, 52 female) and engaged 1,783 workers (including 1,694 non-permanent).
  • Strategic Initiatives: Recent initiatives include crossing the 4 MMSCMD gas volume milestone, expanding the LNG and EV business, and integrating UEPL operations to capture growth in new geographical areas.

Financial Summary (Standalone)

Financial figures for the nine months ended December 2025 indicate a steady revenue trajectory despite margin pressures.

Particulars (INR Crore) 9M FY 2025-26 9M FY 2024-25 Variance (%)
Net Revenues 6,188.99 5,298.73 16.80%
Gross Profit 2,038.78 1,900.47 7.28%
EBITDA 1,190.73 1,175.09 1.33%
PAT 714.90 798.96 (10.52%)
EBITDA Margin 19.24% 22.18% -

The company's net worth stood at INR 5,889 crore for FY 2024-25, with a Return on Net Worth (RoNW) of 18.94%. Operational metrics highlight a total volume of 4.524 MMSCMD in Q2 FY 2025-26 (combined MGL and UEPL), with CNG contributing the largest share at 3.255 MMSCMD.

References

  1. Annual Report May 2025
  2. Investor Presentation Feb 2026
  3. Investor Presentation Oct 2025
  4. Annual Report May 2024

Mahanagar Gas FAQ

Mahanagar Gas today is trading in the red, down by 0.43% at ₹1,048.5.
Mahanagar Gas is currently trading down 0.43% on an intraday basis. In the past week the stock rose 2.48%. Stock has been down 6.43% in the past quarter and fell 17.89% in the past year. You can view this in the share price history/seasonality section.
Mahanagar Gas is listed on NSE with the ticker MGL and on BSE as 539957. It's currently trading on NSE at a share price of ₹1,048.5 and on BSE with a share price of ₹1,053.
The market cap of Mahanagar Gas is ₹10,356.85 Cr. as of Oct 30, 2026.
Mahanagar Gas announced a FINAL dividend of 180% which equals ₹18 in Aug 18, 2026.The last three ex-dates for Mahanagar Gas were Feb 13, 2026, Aug 14, 2025 and Feb 03, 2025. To view the full dividend history of Mahanagar Gas click here.
Mahanagar Gas has never issued stock splits or bonus shares since the time of its listing on the BSE/NSE exchanges.
Mahanagar Gas reported ₹2,403.15 Cr. in revenue, ₹193 Cr. in net profit, and ₹373.21 Cr. in EBITD as of Jul 30, 2026 for Q1 FY26-27.
According to the predictions of 30 analysts, the share price prediction for Mahanagar Gas is ₹1,301.73 with an upside of 24%.
The PE ratio of Mahanagar Gas is 14.48 as of Oct 30, 2026.
The PB ratio of Mahanagar Gas is 1.56 as of Oct 30, 2026.
You can view the latest analyst reports on the Mahanagar Gas reports dashboard. Either click on the Reports tab on this page's sub-header or click here to be directed to the dashboard.
You can set real-time stock alerts on price, volume, SMA, and several other parameters by scrolling to the top of this page and clicking the bell icon on the far right-hand side of the stock overview.
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