- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹10,106 Cr530th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 30 Jul 2026
- 14.1
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 14 May 2026
- 1.6
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 2.93%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 30 Jul 2026
- 11.6%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 30 Jul 2026
- 13.5%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 14 May 2026
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 5,90,80264.2% delivered
Results
Standalone, as consolidated accounts are on record for only 3 of the last ten years; ₹ crore, the charts by years to March, the table by quarter.Quarterly results
Quarter to Jun 2026, against the quarter beforeFiled 30 Jul
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹2,598 Crup 15.05%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹194 Crup 46.83%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
- 7.5%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Sep 2024Filed 25 Oct | Dec 2024Filed 29 Jan | Mar 2025Filed 10 Jun | Jun 2025Filed 20 Jan | Sep 2025Filed 20 Jan | Dec 2025Filed 7 Feb | Mar 2026Filed 7 May | Jun 2026Filed 30 Jul |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,877what Revenue, Sep 2024, includes. This period's revenue includes excise duty of ₹166 crore, a tax on the goods the company makes that it collects and pays to the government. | 1,929what Revenue, Dec 2024, includes. This period's revenue includes excise duty of ₹171 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,039what Revenue, Mar 2025, includes. This period's revenue includes excise duty of ₹174 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,280what Revenue, Jun 2025, includes. This period's revenue includes excise duty of ₹199 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,255what Revenue, Sep 2025, includes. This period's revenue includes excise duty of ₹206 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,266what Revenue, Dec 2025, includes. This period's revenue includes excise duty of ₹208 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,258what Revenue, Mar 2026, includes. This period's revenue includes excise duty of ₹207 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,598what Revenue, Jun 2026, includes. This period's revenue includes excise duty of ₹226 crore, a tax on the goods the company makes that it collects and pays to the government. |
| Net profit | 283 | 225 | 252 | 320 | 193 | 202 | 132 | 194 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | 15.1% | 11.7% | 12.4% | 14.0% | 8.6% | 8.9% | 5.8% | 7.5% |
Business segments
In the year to Mar 2026 the company reports one business segment, Sale of Natural Gas, which carries all its revenue.
Valuation
Today, against the company's own history.PE ratio and valuation history
At or below today's level on 52% of 2,318 trading days since Jun 2017.
At or below today's level on 1% of 1,969 trading days since Nov 2018.
At or below today's level on 34% of 1,916 trading days since Jan 2019.
At or below today's level on 85% of 2,480 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −29.9% | −19.0% | −17.5% | 3.2% |
| 3 years | +0.6% | +2.3% | −4.2% | 2.5% |
| 5 years | −1.8% | +6.4% | −10.3% | 2.7% |
Mutual funds holding it
85 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 56 of the 61 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.Mutual fund holdings
- AddedAdded. Funds that held more shares than at the end of the month before.
- 21
- CutCut. Funds that held fewer shares than at the end of the month before.
- 40
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 24
| Fund | |||
|---|---|---|---|
 Parag Parikh Flexi Cap FundPPFAS Mutual Fund | 39,65,479 | 0.29% | ₹419.5 Cr |
 HDFC Multi Cap FundHDFC Mutual Fund | 16,24,641 | 0.88% | ₹171.9 Cr |
 UTI Value FundUTI Mutual Fund | 8,19,878 | 0.96% | ₹86.7 Cr |
 ICICI Prudential Energy Opportunities FundICICI Prudential Mutual Fund | 7,98,342 | 1.05% | ₹84.5 Cr |
 Aditya Birla Sun Life PSU Equity FundAditya Birla Sun Life Mutual Fund | 7,07,043 | 1.30% | ₹74.8 Cr |
 Bandhan Flexi Cap FundBandhan Mutual Fund | 4,60,000 | 0.68% | ₹48.7 Cr |
| UTI Dividend Yield FundUTI Mutual Fund | 4,36,602 | 1.29% | ₹46.2 Cr |
| UTI ELSS Tax Saver FundUTI Mutual Fund | 4,08,504 | 1.33% | ₹43.2 Cr |
| Aditya Birla Sun Life Value FundAditya Birla Sun Life Mutual Fund | 3,83,692 | 0.61% | ₹40.6 Cr |
 Franklin India Dividend Yield FundFranklin Templeton Mutual Fund | 2,75,000 | 1.34% | ₹29.1 Cr |
Peers and competitors
LPG/CNG/PNG/LNG Supplier, 8 listed companies, priced on 23 Oct 2026. The table lists the 7 companies closest to Mahanagar Gas in market cap.
Where the company sits among the companies nearest its size
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 Adani Total GasATGL | 58,235 | 90.7 | 11.2 | 50.1 | +24.0% | +2.6% | 13.3% | 12.5% | 0.05% |
 Petronet LNGPETRONET | 42,945 | 10.2 | 1.9 | 5.7 | −24.8% | +13.4% | 20.0% | 21.9% | 3.49% |
 Gujarat EnergyGUJENERGY | 20,104 | – | – | – | +42.0% | – | – | – | 4.15% |
 Indraprastha GasIGL | 19,839 | 14.6 | 1.7 | 10.4 | +9.8% | −18.5% | 12.3% | 9.5% | 3.35% |
 Confidence Petroleum IndiaCONFIPET | 2,311 | 17.2 | 1.6 | 6.4 | +72.5% | – | 9.8% | 11.5% | 0.14% |
 IRM EnergyIRMENERGY | 950 | 13.0 | 1.0 | 5.1 | +12.0% | +80.9% | 7.5% | 9.4% | 0.65% |
| Axiom Gas EngineeringAXIOMGAS | 119 | – | – | – | – | – | – | – | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Dividend history and dates
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up.| Ex-date | Type | Per share |
|---|---|---|
| 18 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹18.00 |
| 13 Feb 2026 | Interim | ₹12.00 |
| 14 Aug 2025 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹18.00 |
| 3 Feb 2025 | Interim | ₹12.00 |
| 14 Aug 2024 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹18.00 |
| 5 Feb 2024 | Interim | ₹12.00 |
Latest announcements
Routine notices left out.Share news and announcements
Sep 2026
23 Sep · Analysts
16 Sep · Analysts
7 Sep · Analysts
Aug 2026
26 Aug · Analysts
Mahanagar Gas share price by year
Each calendar year to 2025.Mahanagar Gas share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,136.10 | −11.5% | 1,542.70 | 1,105.60 |
| 2024 | 1,284.40 | +7.0% | 1,964.95 | 1,125.35 |
| 2023 | 1,200.50 | +43.2% | 1,200.50 | 845.20 |
| 2022 | 838.25 | −2.9% | 921.65 | 677.50 |
| 2021 | 862.95 | −18.7% | 1,265.80 | 844.05 |
| 2020 | 1,061.20 | −0.4% | 1,236.90 | 699.55 |
| 2019 | 1,065.20 | +17.8% | 1,071.75 | 764.25 |
| 2018 | 904.40 | −17.4% | 1,117.05 | 779.55 |
| 2017 | 1,094.50 | +38.9% | 1,279.40 | 803.95 |
| 2016 | 787.85 | – | 791.15 | 496.75 |
Recent sessions
The last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 23 Oct 2026 | 1,026.00 | 1,043.60 | 1,004.00 | 1,023.10 | 1,020.59 | 5,90,802 | 64.2% |
| 22 Oct 2026 | 1,040.00 | 1,046.60 | 1,028.50 | 1,034.30 | 1,036.23 | 73,808 | 45.1% |
| 21 Oct 2026 | 1,040.40 | 1,057.40 | 1,040.40 | 1,048.50 | 1,048.13 | 1,62,966 | 69.3% |
| 19 Oct 2026 | 1,053.00 | 1,053.90 | 1,034.20 | 1,041.80 | 1,041.62 | 54,238 | 58.5% |
| 16 Oct 2026 | 1,045.40 | 1,057.90 | 1,040.50 | 1,054.00 | 1,051.85 | 75,709 | 53.0% |
| 15 Oct 2026 | 1,035.70 | 1,053.70 | 1,035.70 | 1,047.40 | 1,048.77 | 1,06,697 | 54.3% |
| 14 Oct 2026 | 1,019.00 | 1,042.40 | 1,019.00 | 1,035.70 | 1,029.98 | 2,80,090 | 68.6% |
| 13 Oct 2026 | 1,025.20 | 1,030.00 | 1,012.20 | 1,022.20 | 1,021.13 | 2,44,848 | 80.1% |
| 12 Oct 2026 | 1,041.60 | 1,045.50 | 1,017.10 | 1,020.60 | 1,028.42 | 1,26,669 | 56.4% |
| 9 Oct 2026 | 1,046.00 | 1,052.00 | 1,032.50 | 1,042.80 | 1,043.79 | 1,37,813 | 57.8% |
About Mahanagar Gas
Mahanagar Gas Limited is a city gas distribution company. It supplies compressed natural gas (CNG) to vehicles and piped natural gas (PNG) to homes, businesses and industries, through pipelines and filling stations that it builds and runs itself.
The business has three main segments. CNG is sold to vehicles through filling stations, and the company had 518 of them at March 2026. Domestic PNG is delivered to households through underground pipelines for cooking and water heating. Industrial and commercial PNG is supplied to hotels, hospitals, manufacturers and process industries. Through its subsidiary Mahanagar LNG Private Limited, the company is building liquefied natural gas infrastructure for long-haul road transport. It also holds 25.90% of 3ev Industries Private Limited and 44.00% of International Battery Company India, both ventures outside its gas distribution business. The company employs 731 people.
It operates in the Mumbai Metropolitan Region and in Ratnagiri, Latur and Dharashiv in Maharashtra, and Chitradurga and Davanagere in Karnataka. The CNG network in the areas that came from its acquisition of Unison Enviro Private Limited has 109 stations.
It was incorporated in 1995. In February 2024 it acquired Unison Enviro Private Limited, which then became a wholly owned subsidiary. That subsidiary merged into the company with effect from August 2025, and the merger brought the Ratnagiri, Latur, Dharashiv, Chitradurga and Davanagere areas into the company.
GAIL (India) Limited is the promoter of the company and held 32.50% of its shares at March 2026. A promoter is the person or group that set up a company or controls it. The Governor of Maharashtra held 10.00%.
- Legal name
- Mahanagar Gas Limited
- NSE symbol
- MGL
- BSE code
- 539957
- ISIN
- INE002S01010
- Industry
- Gas
- Listed
- Jul 2016
- Face value
- ₹10
- CIN
- L40200MH1995PLC088133
- Corporate identity number, the registrar of companies' code for it