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Discovery themes featuring this stockMahanagar Gas Ltd (MGL) is currently trading at 1,051.30 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Mahanagar Gas Limited is one of India’s largest city gas distribution companies, supplying CNG and PNG across Mumbai, Thane and Raigad with an extensive pipeline network, 491 CNG stations and around 3.07 million PNG household connections which constitute the company’s core regulated distribution business and customer base. MGL delivered steady volume growth with Q3 FY26 average sales at 4.62 MMSCMD (up 7.19% YoY) and nine‑month average at 4.556 MMSCMD, driven by CNG, domestic PNG and I&C additions, while company targets double‑digit volume growth on a medium‑term basis and reported strong customer additions during the quarter. Margins and profitability show mixed signals: standalone Q3 revenue rose 11.5% YoY to ₹2,058 crore while PAT declined 9.4% YoY to ₹202 crore for the quarter; management guidance targets EBITDA per SCM in the INR8–9 range longer term, reflecting procurement index volatility and portfolio management efforts. Strategic moves are notable: MGL has materially expanded footprint via UEPL acquisition, progressing large-format CNG stations in Mumbai, commissioning first LNG station via MLPL, and entered a battery cell JV with approved capex, signalling diversification beyond traditional CGD into LNG and energy storage opportunities. Regulatory and sourcing dynamics are front-and-center: MGL is actively managing gas procurement mix across APM, NWG, HPHT, Henry Hub and spot markets, while zonal unified tariffs, CBG incentives, and Henry Hub volatility remain key determinants of near-term cost and margin performance.
Over the past 52 weeks, Mahanagar Gas Ltd has traded between a low of ₹1,011.45 and a high of ₹1,586.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Mahanagar Gas Ltd has a market capitalization of approximately 10,311.91. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Mahanagar Gas Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 10.79 and operates in the Gas Distribution sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 10,311.91 Cr, Mahanagar Gas Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Mahanagar Gas Ltd operates in the Gas Distribution sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Mahanagar Gas Ltd is 10.79. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Mahanagar Gas reported an 11.6% year-on-year increase in revenue to ₹2,265.97 crore, but its net profit declined by 9.4% to ₹201.97 crore. The company also declared an interim dividend of ₹12 per share.
Bearish
3
Neutral
2
Bullish
9
Bearish
33
Neutral
2
Bullish
11
Bearish
30
Neutral
0
Bullish
2
Acquisition / Share Subscription
Mahanagar Gas will acquire 26% of FPEL Reliant Energy Pvt Ltd for up to Rs. 389 lakh (cash) under an SSA/SHA dated Mar 9, 2026 to set up a solar power plant in Maharashtra for its CNG stations; completion within 6 months.
Stake Acquisition
Mahanagar Gas Ltd entered into SSA & SHA on Mar 9, 2026 to acquire 26% of FPEL Reliant Energy Pvt Ltd for up to Rs. 389 Lakh (cash) to set up a solar power plant in Maharashtra to supply CNG stations; completion within 6 months.
| Symbol | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
193.85 | 21,501 Cr | 100.44 | 4.53 | 0.00 | 3.81 | 5.57 | 2.89 | |
276.45 | 15,493 Cr | 14.82 | 1.30 | 1.82 | 8.63 | 17.47 | 7.23 | |
1045.70 | 10,312 Cr | 10.79 | 1.66 | 2.87 | 15.76 | 20.47 | 11.06 | |
209.60 | 861 Cr | 19.19 | 0.89 | 0.72 | 4.22 | 7.78 | 3.89 | |
146.05 | 111 Cr | 9.23 | 1.68 | 0.00 | 59.01 | 49.52 | 0.00 | |
39.78 | 9 Cr | 62.16 | 2.27 | 0.00 | 0.44 | 0.57 | 1.35 | |
1.12 | 2 Cr | 11.20 | 0.13 | 0.00 | -15.32 | -6.12 | -10.13 |
Mahanagar Gas Limited is one of India’s largest city gas distribution companies, supplying CNG and PNG across Mumbai, Thane and Raigad with an extensive pipeline network, 491 CNG stations and around 3.07 million PNG household connections which constitute the company’s core regulated distribution business and customer base.
MGL delivered steady volume growth with Q3 FY26 average sales at 4.62 MMSCMD (up 7.19% YoY) and nine‑month average at 4.556 MMSCMD, driven by CNG, domestic PNG and I&C additions, while company targets double‑digit volume growth on a medium‑term basis and reported strong customer additions during the quarter.
Margins and profitability show mixed signals: standalone Q3 revenue rose 11.5% YoY to ₹2,058 crore while PAT declined 9.4% YoY to ₹202 crore for the quarter; management guidance targets EBITDA per SCM in the INR8–9 range longer term, reflecting procurement index volatility and portfolio management efforts.
Strategic moves are notable: MGL has materially expanded footprint via UEPL acquisition, progressing large-format CNG stations in Mumbai, commissioning first LNG station via MLPL, and entered a battery cell JV with approved capex, signalling diversification beyond traditional CGD into LNG and energy storage opportunities.
Regulatory and sourcing dynamics are front-and-center: MGL is actively managing gas procurement mix across APM, NWG, HPHT, Henry Hub and spot markets, while zonal unified tariffs, CBG incentives, and Henry Hub volatility remain key determinants of near-term cost and margin performance.
Gas Distribution
Gas Distribution
10,312 Cr
Moderate Risk
10.8
16.2
3.1
1.7
1,586.00
1,011.45
Sales CAGR
Profit CAGR
ROE
ROCE
