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Mahanagar Gas Limited MGL NIFTY_SMALLNSEINFRAPSU

Utilities · Utilities - Regulated Gas · India
https://www.mahanagargas.com
Company Profile ↓
₹1,034.30
-21.92% 1Y
Mkt Cap₹10,216.59 Cr
P/E14.28
P/B1.60
Div. Yield3.46%
52W High₹1,327.51
52W Low₹893.92
Book Value₹650.70
EPS (TTM)₹72.42

Company Overview

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 comprising of carbon steel and polyethylene pipelines. Mahanagar Gas Limited was incorporated in 1995 and is based in Mumbai, India.

Why Investors Should Care

Healthy Capital Returns

Return on capital employed stands at 16.5%.

Reasonable Valuation

Trades at a P/E of 14.3, below the sector median of 25.1.

Dividend Income

Offers a dividend yield of 3.46%.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Mar 2026 Revenue of ₹8,206.56 Cr (+13.5% YoY); net profit ₹841.14 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +13.9%, earnings -39.3%.
  • 5-Year Trend Long-term compounding — revenue CAGR 9.3%, profit CAGR 2.1%.

Growth & Price Performance

Compounded Sales Growth

5 Years:9.34%
1 Year:13.90%

Compounded Profit Growth

5 Years:2.11%
1 Year:-39.30%

Stock Price Performance

1 Year:-21.92%
6 Months:-7.95%
3 Months:-2.41%
1 Month:-3.09%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bearish
52-Week Range 32% of range
₹893.92 ₹1,327.51
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMABelow
  • Death Cross1d ago
  • RSI (14)42.27 · Neutral
Price Performance
1M-3.09%
3M-2.41%
6M-7.95%
1Y-21.92%
Valuation vs Sector

P/E of 14.28 is below the sector median of 25.07 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Attractive dividend yield of 3.46%.
  • Generates positive free cash flow.

CONS

  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
14.28
Industry PE
25.07
Forward P/E
11.07
PEG Ratio
-
Book Value
₹650.70
Price to Book
1.60
P/S
1.21
EV/EBITDA
7.21
Dividend Yield
3.46%

Growth (CAGR)

Revenue 5Y
9.34%
Profit 5Y
2.11%
Revenue (YoY)
13.90%
Earnings (YoY)
-39.30%

Profitability & Returns

ROCE
16.45%
ROE
13.09%
ROA
9.37%
Profit Margin
8.38%
Op Margin
9.85%
Gross Margin
29.02%
EPS (Latest Qtr)
₹19.54
EPS (TTM)
₹72.42

Balance Sheet & Liquidity

Debt/Equity
3.46
Quick Ratio
0.91
Current Ratio
0.94
Debt
₹222.93 Cr
Total Assets
₹8,981.12 Cr
Current Assets
₹1,836.51 Cr
Working Capital
₹-122.03 Cr

Ownership

Promoter Holding
42.50%
Chg in Prom Hold
-1.15%
FII / Inst Holding
34.80%
Chg in FII Hold
-0.27%

Financial Snapshot

Enterprise Value
₹10,216.59 Cr
Total Revenue (TTM)
₹8,535.41 Cr
EBITDA
₹1,303.36 Cr
Free Cash Flow
₹86.69 Cr
Operating Cash Flow
₹1,162.29 Cr
Shares Outstanding
₹9.88 Cr
Gross Margin
29.02%
Payout Ratio
41.43%

Peer comparison

Peer companies in the same sector (Utilities).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 MGL Mahanagar Gas Limited NIFTY_SMALLNSEINFRAPSU 1,034.30 14.28 ₹10,216.59 Cr 3.46% 16.45% 13.09% 9.34% 2.11%
2 ADANIPOWER Adani Power Limited NSEINFRA 185.27 25.07 ₹3.57 L Cr 0.00% 15.13% 19.76% 12.51% 6.16%
3 NTPC NTPC Limited NIFTY50NSEINFRAPSU 302.60 10.57 ₹2.93 L Cr 3.99% 8.95% 13.31% 1.87% 16.95%
4 POWERGRID Power Grid Corporation of India Limited NIFTY50NSEAIINFRAPSU 248.40 14.53 ₹2.31 L Cr 3.56% 11.15% 15.85% 0.57% 1.09%
5 ADANIGREEN Adani Green Energy Limited NSEINFRA 1,250.00 119.73 ₹2.06 L Cr 0.00% 6.35% 8.27% 16.60% 19.26%
6 ADANIENSOL Adani Energy Solutions Limited NSEINFRA 1,295.40 53.31 ₹1.58 L Cr 0.00% 8.43% 8.98% 27.69% 22.02%
7 TATAPOWER The Tata Power Company Limited NSEAIINFRA 353.50 28.74 ₹1.13 L Cr 0.72% 8.53% 9.49% 4.10% 3.95%
8 GAIL GAIL (India) Limited NSEINFRAPSU 168.49 11.21 ₹1.11 L Cr 3.28% 9.12% 8.51% -0.86% 10.53%
9 ENRIN Siemens Energy India Limited NSEINFRA 2,764.00 66.14 ₹98,431.71 Cr 0.13% 29.23% 25.11% 63.51% 83.35%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 1,610.00 Cr1,538.00 Cr1,571.00 Cr1,569.00 Cr1,613.00 Cr1,666.00 Cr1,786.00 Cr1,847.41 Cr1,964.38 Cr2,083.01 Cr2,050.00 Cr2,060.24 Cr2,052.05 Cr2,372.72 Cr
Cost of Revenue -------1,268.06 Cr1,280.85 Cr1,311.10 Cr-1,417.48 Cr1,481.73 Cr1,733.41 Cr
Gross Profit -------579.35 Cr683.53 Cr771.91 Cr-642.76 Cr570.32 Cr639.31 Cr
Operating Expenses 1,221.00 Cr1,017.00 Cr1,092.00 Cr1,120.00 Cr1,218.00 Cr1,229.00 Cr1,373.00 Cr344.73 Cr383.76 Cr367.32 Cr1,714.00 Cr394.23 Cr416.61 Cr405.49 Cr
Operating Income 326.00 Cr459.00 Cr413.00 Cr381.00 Cr314.00 Cr354.00 Cr329.00 Cr234.62 Cr299.77 Cr404.59 Cr232.00 Cr248.53 Cr153.71 Cr233.82 Cr
EBITDA 390.00 Cr521.00 Cr479.00 Cr449.00 Cr395.00 Cr437.00 Cr413.00 Cr366.77 Cr436.17 Cr532.05 Cr336.00 Cr380.91 Cr287.46 Cr372.90 Cr
Interest Expense 2.00 Cr3.00 Cr2.00 Cr3.00 Cr6.00 Cr3.00 Cr3.00 Cr3.49 Cr4.17 Cr4.57 Cr5.00 Cr6.40 Cr4.87 Cr5.93 Cr
Pretax Income 357.00 Cr496.00 Cr454.00 Cr426.00 Cr352.00 Cr386.00 Cr373.00 Cr273.11 Cr336.76 Cr431.39 Cr256.00 Cr270.96 Cr176.33 Cr258.01 Cr
Tax Provision 89.25 Cr128.96 Cr113.50 Cr110.76 Cr91.52 Cr96.50 Cr85.79 Cr50.27 Cr95.38 Cr112.81 Cr64.00 Cr69.86 Cr46.70 Cr65.37 Cr
Net Income 269.00 Cr368.00 Cr338.00 Cr317.00 Cr261.00 Cr289.00 Cr287.00 Cr222.91 Cr241.41 Cr318.68 Cr191.00 Cr201.15 Cr129.94 Cr193.00 Cr
Diluted EPS 27.2137.3034.2732.1126.3829.2429.0322.5724.4432.2619.3720.3613.1519.54

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -6,277.27 Cr6,266.91 Cr7,227.51 Cr8,206.56 Cr
Cost of Revenue -4,636.36 Cr3,867.05 Cr4,986.43 Cr5,985.24 Cr
Gross Profit -1,640.91 Cr2,399.86 Cr2,241.08 Cr2,221.32 Cr
Operating Expenses -678.42 Cr822.64 Cr1,017.39 Cr1,172.49 Cr
Operating Income -962.49 Cr1,577.22 Cr1,223.69 Cr1,048.83 Cr
EBITDA -1,296.07 Cr2,018.77 Cr1,735.70 Cr1,565.43 Cr
Interest Expense -9.39 Cr13.30 Cr14.06 Cr20.96 Cr
Pretax Income -1,055.54 Cr1,728.11 Cr1,369.59 Cr1,134.59 Cr
Tax Provision -265.49 Cr443.42 Cr329.44 Cr294.04 Cr
Net Income -790.05 Cr1,284.69 Cr1,040.27 Cr841.14 Cr
Diluted EPS -79.98130.06105.3185.15

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -6,032.31 Cr7,253.40 Cr8,301.53 Cr8,981.12 Cr
Current Assets -2,006.22 Cr1,907.60 Cr1,946.37 Cr1,836.51 Cr
Cash & Equivalents -117.90 Cr129.37 Cr151.75 Cr57.20 Cr
Inventory -33.84 Cr42.07 Cr52.31 Cr62.58 Cr
Receivables -294.03 Cr296.49 Cr364.06 Cr458.65 Cr
Total Liabilities -1,898.09 Cr2,118.29 Cr2,409.46 Cr2,539.53 Cr
Current Liabilities -1,561.17 Cr1,699.78 Cr1,874.97 Cr1,958.54 Cr
Long Term Debt -----
Total Debt -114.61 Cr141.43 Cr201.03 Cr222.87 Cr
Total Equity -4,134.22 Cr5,130.21 Cr5,877.49 Cr6,427.61 Cr
Shares Outstanding -9.88 Cr9.88 Cr9.88 Cr9.88 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -969.30 Cr1,567.87 Cr1,406.62 Cr1,162.29 Cr
Investing Cash Flow --649.09 Cr-1,081.95 Cr-1,052.72 Cr-888.26 Cr
Financing Cash Flow --284.79 Cr-499.25 Cr-331.53 Cr-368.58 Cr
Capital Expenditure --713.07 Cr-783.35 Cr-1,183.94 Cr-1,075.60 Cr
Free Cash Flow -256.23 Cr784.52 Cr222.68 Cr86.69 Cr
Net Change in Cash -35.42 Cr-13.33 Cr22.37 Cr-94.55 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -26.1%38.3%31.0%27.1%
Operating Margin % -15.3%25.2%16.9%12.8%
Net Margin % -12.6%20.5%14.4%10.2%
ROE % -19.1%25.0%17.7%13.1%
ROCE % -21.5%28.4%19.0%14.9%

Shareholding Pattern

Insiders
42.50%
Institutions
34.80%
Public Float
60.53%

Analyst View

Loading analyst coverage…

Latest News

Recent headlines for MGL

Google News Wed, 21 Oct 2026

Mahanagar Gas Shares Plunge Nearly 8% - NDTV Profit

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Google News Mon, 21 Sep 2026

Adani Total Gas: Why investor preference for the stock is intriguing - TradingView

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Google News Fri, 16 Oct 2026

MGL Outlook for the Week - Equitypandit

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Google News hu, 12 Mar 2026

Gail, IGL, MGL: Is any gas stock worth buying now? Analysts guide - Business Standard

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Google News ue, 30 Jun 2026

MGL rides PNG adoption wave, analysts see further upside - The Economic Times

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Google News Fri, 31 Jul 2026

Higher gas realisations help Mahanagar Gas beat Q1 estimates; Nomura keeps Buy - Moneycontrol.com

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MGL — Frequently Asked Questions

What is the current share price of Mahanagar Gas Limited (MGL)?

As of 2026-10-24 04:55 IST, Mahanagar Gas Limited (MGL) trades at ₹1,034.30 on NSE. Its 52-week range is ₹893.92 to ₹1,327.51.

What is the market capitalisation of MGL?

Mahanagar Gas Limited (MGL) has a market capitalisation of ₹10,216.59 Cr on NSE.

What is the P/E ratio of MGL?

MGL trades at a trailing price-to-earnings (P/E) ratio of 14.28. The industry average P/E is 25.07. Its price-to-book (P/B) ratio is 1.60.

Does MGL pay a dividend?

Mahanagar Gas Limited (MGL) currently offers a dividend yield of 3.46%.

What is the return on equity (ROE) of MGL?

MGL has a return on equity (ROE) of 13.09%. Its return on capital employed (ROCE) is 16.45%.

Is MGL a good stock to buy?

This page provides a data-driven analysis of Mahanagar Gas Limited (MGL), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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