Mahanagar Gas Ltd.

NSE: MGL · LPG/CNG/PNG/LNG Supplier · sector

₹1,036.20NSE close 2026-10-26

Key numbers

Market cap₹10,236 cr

Price₹1,036.20

52w high / low₹1,314 / ₹900

P/E14.3xSector median 14.3x

P/B1.6xSector median 1.6x

Book value₹650.7

Dividend yield2.89%Sector median 0.91%

ROE11.6%Sector median 12.3%

ROCE15.4%Sector median 13.1%

OPM13.8%Sector median 12.1%

Debt / equity0.00xSector median 0.05x

EV/EBITDA7.0xSector median 7.0x

Interest cover44.3x

Current ratio0.94x

Sales growth 3y+9.4%Sector median +10.2%

Profit growth 3y+2.1%Sector median +3.1%

PEG6.78x

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 7 companies in LPG/CNG/PNG/LNG Supplier (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹1,150 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
Operating profit covered interest 44.3x in the last 12 months.
Operating cash flow was below net profit in 0 of the last 5 years.
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 17% of net profit in the last 12 months.
Dividend paid in 5 of the last 5 financial years.
Price ₹1,036.20 on 2026-10-26: -21.1% from the 52-week high, +15.1% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹1,940.40 · low ₹908.40

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	1,963	2,032	2,152	2,282	2,256	2,268	2,259	2,599
EBITDA	413	325	394	501	338	352	260	343
OPM %	21.1%	16.0%	18.3%	21.9%	15.0%	15.5%	11.5%	13.2%
Other income	47	42	42	32	29	30	29	30
Net profit	284	221	247	318	191	201	130	193
EPS (₹)	28.70	22.39	25.01	32.18	19.37	20.36	13.15	19.54
Revenue YoY					+15.0%	+11.6%	+4.9%	+13.9%
Profit YoY					-32.5%	-9.1%	-47.4%	-39.3%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	3,885	6,921	6,914	7,979	9,065	9,382
EBITDA	924	1,184	1,844	1,569	1,451	1,293
Net profit	597	790	1,276	1,041	841	715
EPS (₹)	60.43	79.98	129.21	105.33	85.15	72.42
Revenue growth		+78.2%	-0.1%	+15.4%	+13.6%	+11.3%
Profit growth		+32.3%	+61.6%	-18.5%	-19.2%	-33.1%
Dividend / share (₹)	23.50	25.50	28.00	30.00	30.00

Compounded growth	3 years	5 years	Last 12 months
Sales	+9.4%	+31.1%	+11.3%
Net profit	+2.1%	+6.3%	-33.1%
EPS	+2.1%	+6.3%	–
Share price	–	-18.2% (2y)	-18.7%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	4,134	5,130	5,880	6,428
Borrowings	–	0	0	0	0
Cash & equivalents	–	1,538	1,445	1,387	1,150
Total assets	–	6,032	7,381	8,270	8,981
Fixed assets	–	3,021	3,777	4,422	4,985
Capital work in progress	–	709	823	1,068	1,270
Investments	–	0	50	108	112
Receivables	–	294	296	364	459
Inventory	–	34	42	52	63
Payables	–	322	348	431	479

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	904	969	1,461	1,814	1,162
Cash from investing	-539	-649	-358	-1,462	-888
Cash from financing	-310	-285	-1,116	-330	-369
Capex	649	713	783	1,184	1,076
Free cash flow	255	256	678	631	87

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	19.1%	24.9%	17.7%	13.1%
ROCE %	–	25.8%	33.8%	23.5%	18.1%
Debtor days	–	16	16	17	18
Inventory days	–	3	4	4	4
Payable days	–	27	35	34	31
Cash conversion cycle (days)	–	-8	-15	-13	-9
Working capital days	–	28	16	3	-5

Shareholding

Holder	% (2026-09-30)
Promoters	32.50%
FIIs	23.46%
DIIs	22.26%
of which Mutual funds	11.98%
of which Insurance	9.65%
Government	10.00%
Public (non-institutions)	11.78%

Quarter	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%

Promoter group	%
Gail (India) Limited	32.50%

Public holders above 1%	%
Governor of Maharashtra	10.00%
Life Insurance Corporation Of India	5.80%
Parag Parikh Flexi Cap Fund	4.05%
Uti Value Fund	1.85%
Hdfc Mutual Fund - Hdfc Multi Cap Fund	1.74%
Robeco Capital Growth Funds - Robeco Asia-Pacific Equities	1.51%
Cape Ann Global Developing Markets Fund	1.51%
Washington State Investment Board Managed By Brandes Investment Partners, L.P.	1.49%
Mercer Qif Fund Plc-Mercer Investment Fund 1	1.22%
Aditya Birla Sun Life Mutual Fund - Aditya Birla Sun Life Psu Equity Fund	1.10%
Bajaj Life Insurance Limited	1.03%

1,75,638 shareholders. Pledged: – of promoter shares.

Peers in LPG/CNG/PNG/LNG Supplier

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
ATGL	₹58,509 cr	91.1x	11.3x	13.3%	13.1%	16.4%	+11.0%	0.05%
PETRONET	₹43,762 cr	10.4x	2.0x	20.0%	25.7%	15.4%	-10.1%	3.43%
GUJENERGY	₹20,171 cr	9.6x	1.1x	14.1%	11.7%	11.6%	+12.2%	0.91%
IGL	₹19,820 cr	14.6x	1.7x	12.3%	12.9%	8.8%	+4.6%	3.35%
MGL	₹10,236 cr	14.3x	1.6x	11.6%	15.4%	13.8%	+9.4%	2.89%
CONFIPET	₹2,320 cr	14.9x	1.6x	9.8%	13.7%	6.8%	+28.7%	0.16%
IRMENERGY	₹949 cr	13.0x	1.0x	7.5%	11.5%	12.1%	–	0.65%

All 7 companies in LPG/CNG/PNG/LNG Supplier →

Dividends & corporate actions

Ex-date	Action	Detail
2026-08-18	Dividend	Dividend - Rs 18 Per Share
2026-02-13	Dividend	Interim Dividend - Rs 12 Per Share
2025-08-14	Dividend	Dividend - Rs 18 Per Share
2025-02-03	Dividend	Interim Dividend - Rs 12 Per Share
2024-08-14	Dividend	Annual General Meeting/Dividend - Rs 18 Per Share
2024-02-05	Dividend	Interim Dividend - Rs 12 Per Share
2023-08-14	Dividend	Annual General Meeting/Dividend - Rs 16 Per Share
2023-02-14	Dividend	Interim Dividend - Rs 10 Per Share
2022-08-11	Dividend	Annual General Meeting/Dividend - Rs 15.5 Per Share
2022-02-17	Dividend	Interim Dividend - Rs 9.50 Per Share
2021-09-17	Dividend	Annual General Meeting/Dividend - Rs 14 Per Share
2021-02-18	Dividend	Interim Dividend - Rs 9 Per Share
2020-09-16	Dividend	Annual General Meeting/Dividend - Rs 10.50 Per Share And Special Dividend - Rs 15 Per Share
2020-03-06	Dividend	Interim Dividend - Rs 9.50 Per Share
2019-08-29	Dividend	Annual General Meeting/ Dividend - Rs 10.50 Per Share
2019-02-07	Dividend	Interim Dividend - Rs 9.50 Per Share
2018-09-07	Dividend	Annual General Meeting/Dividend Rs 11/- Per Share
2018-02-20	Dividend	Interim Dividend - Rs 8 Per Share (Purpose Revised)
2017-09-14	Dividend	Annual General Meeting/Dividend - Rs 11/- Per Share
2017-02-17	Dividend	Interim Dividend Rs 8/- Per Share (Purpose Revised)

Documents

Links go to the original files on the exchange website.

About the company

Selling and Distribution of Natural Gas: Sale of Piped Natural Gas (PNG) /Compressed Natural Gas (CNG)/Liquefied Natural Gas (LNG) to Domestic, Commercial, Industrial and transport sector customers.


Sector	Energy
Industry	LPG/CNG/PNG/LNG Supplier
Sub-industry	LPG/CNG/PNG/LNG Supplier
Symbol	MGL
BSE code	539957
ISIN	INE002S01010
Face value	₹10.0
Incorporated	1995-05-08
Website	www.mahanagargas.com
Plants (India / abroad)	9 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.