Mahanagar Gas Ltd (MGL) share price, results, shareholding

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	1,571	1,569	1,567	1,590	1,786	1,758	1,963	2,081	2,049	2,058	2,051	2,372
Expenses	1,092	1,120	1,173	1,171	1,373	1,443	1,568	1,581	1,711	1,706	1,791	2,029
Operating Profit	479	449	394	418	413	314	395	501	338	352	260	343
OPM %	30%	29%	25%	26%	23%	18%	20%	24%	16%	17%	13%	14%
Other Income	44	48	45	40	47	46	42	32	29	29	29	30
Interest	2	3	4	3	3	3	4	4	5	6	5	6
Depreciation	66	68	78	72	84	79	95	96	104	103	106	109
Profit before tax	454	426	357	384	373	278	338	432	258	272	178	259
Tax %	25%	26%	26%	26%	23%	19%	28%	26%	25%	26%	26%	25%
Net Profit	338	317	265	285	287	225	242	320	193	202	132	194
EPS in Rs	34.27	32.11	26.83	28.81	29.03	22.82	24.53	32.35	19.58	20.45	13.36	19.61

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	2,078	2,034	2,233	2,791	2,972	2,153	3,560	6,299	6,245	7,261	8,240	8,531
Expenses	1,569	1,390	1,453	1,906	1,919	1,219	2,636	5,115	4,402	5,691	6,789	7,237
Operating Profit	509	644	780	885	1,053	934	924	1,184	1,843	1,570	1,451	1,293
OPM %	24%	32%	35%	32%	35%	43%	26%	19%	30%	22%	18%	15%
Other Income	47	53	58	78	99	81	86	112	175	166	119	118
Interest	2	1	0	0	7	7	8	9	12	14	21	22
Depreciation	83	95	111	126	162	174	196	231	274	352	409	422
Profit before tax	472	601	727	837	984	834	806	1,056	1,733	1,371	1,141	967
Tax %	34%	34%	34%	35%	19%	26%	26%	25%	26%	24%	26%
Net Profit	311	393	478	546	794	620	597	790	1,289	1,041	847	721
EPS in Rs	34.80	39.83	48.38	55.32	80.33	62.72	60.43	79.98	130.50	105.41	85.73	73.00
Dividend Payout %	50%	48%	39%	36%	44%	37%	41%	20%	23%	28%	35%

	10 Years	5 Years	3 Years	TTM	1 Year	Last Year
Compounded Sales Growth	15%	31%	9%	12%
Compounded Profit Growth	9%	4%	-1%	-33%
Stock Price CAGR	5%	-1%	1%		-19%
Return on Equity	20%	18%	18%			12%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	89	89	99	99	99	99	99	99	99	99	99	99
Reserves	1,318	1,639	1,741	1,997	2,300	2,854	3,134	3,499	4,035	5,044	5,780	6,335
Borrowings	16	5	3	1	0	67	74	103	115	139	198	219
Other Liabilities	743	637	782	914	1,042	1,109	1,295	1,534	1,783	1,944	2,208	2,312
Total Liabilities	2,166	2,370	2,624	3,010	3,441	4,128	4,601	5,234	6,032	7,226	8,284	8,965
Fixed Assets	1,064	1,129	1,305	1,532	1,763	2,049	2,169	2,614	3,026	3,543	4,844	5,373
CWIP	380	429	412	357	370	487	560	616	709	774	1,062	1,259
Investments	371	393	467	688	654	1,121	1,025	1,088	1,310	1,636	1,178	1,169
Other Assets	350	419	441	434	654	471	847	916	988	1,273	1,200	1,163
Total Assets	2,166	2,370	2,624	3,010	3,441	4,128	4,601	5,234	6,032	7,226	8,284	8,965

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	427	419	532	652	685	985	806	904	969	1,563	1,420	1,147
Cash from Investing Activity	-261	-222	-263	-419	-439	-755	-444	-539	-649	-1,267	-1,056	-874
Cash from Financing Activity	-176	-191	-284	-226	-235	-242	-349	-310	-285	-312	-341	-368
Net Cash Flow	-10	5	-15	8	12	-11	13	54	35	-15	22	-95
Free Cash Flow	229	204	278	383	322	559	466	256	257	793	249	87
CFO/OP	116%	112%	112%	113%	108%	116%	108%	121%	104%	108%	108%	97%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	17	16	17	14	13	8	22	19	17	16	18	20
Inventory Days	5	5	8	8	5	5	11	5	3	4	4	4
Days Payable	32	33	43	39	40	35	76	48	26	34	34	31
Cash Conversion Cycle	-10	-12	-18	-16	-22	-21	-44	-24	-7	-13	-11	-6
Working Capital Days	-80	-59	-79	-86	-78	-97	-152	-106	-63	-72	-67	-56
ROCE %	33%	30%	34%	37%	37%	37%	27%	23%	27%	34%	23%	17%

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%
FIIs	30.51%	30.85%	30.54%	31.49%	34.20%	25.75%	23.76%	25.48%	23.59%	24.89%	24.13%	23.21%
DIIs	16.10%	17.23%	17.40%	16.67%	15.46%	21.10%	23.82%	22.52%	22.89%	20.83%	21.01%	22.53%
Government	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Public	10.89%	9.43%	9.55%	9.32%	7.84%	10.64%	9.92%	9.50%	11.01%	11.79%	12.34%	11.75%
No. of Shareholders	1,53,582	1,41,617	1,49,718	1,47,540	1,42,738	1,73,905	1,67,650	1,66,589	1,78,576	1,79,761	1,84,373	1,78,033

Fundamentals

Market Cap₹ 10,377 Cr.

Current Price₹ 1,050

Stock P/E14.4

Book Value₹ 651

ROCE17.1 %

ROE12.3 %

Dividend Yield2.86 %

Face Value₹ 10.0

Compounded Sales Growth (TTM)12%

Compounded Profit Growth (TTM)-33%

Standalone figures.

Valuation

Market capRs 10,326 Cr

Enterprise valueRs 10,431 Cr

P/E (TTM)14.32x

Price to book1.60x

Price to sales1.21x

EV / EBITDA7.39x

EV / EBIT10.55x

EV / sales1.22x

Price to cash flow9.00x

Earnings yield6.98%

Dividend yield2.87%

P/E, 3-year average11.48x

P/B, 3-year average2.12x

P/E, 5-year average11.92x

P/B, 5-year average2.17x

Profitability

Operating margin (excl. other income)17.61%

Operating margin (incl. other income)19.06%

EBITDA margin16.54%

Pre-tax margin11.34%

Net profit margin8.45%

Net margin, latest quarter8.17%

ROE13.76%

ROCE18.24%

ROA9.82%

ROE, 3-year average20.15%

ROCE, 3-year average26.41%

ROA, 3-year average14.23%

ROE, 5-year average19.67%

ROCE, 5-year average25.85%

ROA, 5-year average13.77%

ROIC (approx.)11.23%

Tax rate25.75%

Other income / net worth1.85%

Growth

Sales growth (latest year)13.48%

Profit growth (latest year)-18.67%

Sales CAGR, 3 years9.37%

Sales CAGR, 5 years30.80%

Profit CAGR, 3 years2.34%

Profit CAGR, 5 years6.45%

Sales growth QoQ15.62%

Profit growth QoQ46.83%

Sales growth YoY (latest quarter)13.95%

Profit growth YoY (latest quarter)-39.39%

Per share

EPS (TTM)Rs 72.99

EPS (latest year)Rs 85.73

EPS (latest quarter)Rs 19.61

EPS, 3-year averageRs 107.22

EPS, 5-year averageRs 92.41

Book value per shareRs 651.39

Sales per shareRs 863.61

Cash flow per shareRs 116.16

Free cash flow per shareRs 8.81

Dividend per share (latest year)Rs 30.00

Dividend per share, 3-year averageRs 30.00

Dividend per share, 5-year averageRs 26.20

Dividends

Dividend payout34.99%

Dividend payout, 3-year average28.81%

Dividend payout, 5-year average29.56%

Efficiency

Asset turnover0.92x

Fixed asset turnover1.53x

Inventory turnover96.83x

Inventory days4 days

Debtor days20 days

Debtors turnover17.98x

Creditor days31 days

Cash conversion cycle-6 days

Working capital days-56 days

Leverage

Total debtRs 219 Cr

Cash and bankRs 114 Cr

Net debtRs 105 Cr

Debt to equity0.03x

Net debt / EBITDA0.07x

Interest coverage45.35x

Current ratio (filing 2026-03-31)0.94x

Quick ratio (filing 2026-03-31)0.90x

Trade payables (filing 2026-03-31)Rs 476 Cr

Owners' fund to total sources71.77%

Debt to assets2.44%

Cash flow

Cash from Operating Activity (latest year)Rs 1,147 Cr

Cash from Investing Activity (latest year)Rs -874 Cr

Cash from Financing Activity (latest year)Rs -368 Cr

Net Cash Flow (latest year)Rs -95 Cr

Free cash flow (latest year)Rs 87 Cr

FCFE (approx.: FCF + change in debt)Rs 108 Cr

Cash from ops / profit, 5 years1.32x

Sales to cash flow7.18x

Statement figures

Net sales (TTM)Rs 8,531 Cr

Net sales (latest year)Rs 8,240 Cr

Sales (latest quarter)Rs 2,372 Cr

Operating profit excl. other income (latest year)Rs 1,451 Cr

Operating profit (latest quarter)Rs 343 Cr

Other income (TTM)Rs 118 Cr

EBITDA (TTM)Rs 1,411 Cr

PBDT (TTM)Rs 1,389 Cr

Profit before tax (TTM)Rs 967 Cr

Tax (latest year)Rs 294 Cr

Net profit (TTM)Rs 721 Cr

Net profit (latest year)Rs 847 Cr

Net profit (latest quarter)Rs 194 Cr

Depreciation (TTM)Rs 422 Cr

Depreciation (latest quarter)Rs 109 Cr

Interest (TTM)Rs 22 Cr

Cost of goods sold (latest year)Rs 6,052 Cr

Total expenditure (latest year)Rs 6,789 Cr

Total income (latest year)Rs 8,359 Cr

Share capitalRs 99 Cr

ReservesRs 6,335 Cr

Shareholders' fundsRs 6,434 Cr

Total assetsRs 8,965 Cr

Net blockRs 5,373 Cr

Capital work in progressRs 1,259 Cr

InvestmentsRs 1,169 Cr

ReceivablesRs 458 Cr

InventoryRs 62 Cr

Other liabilitiesRs 2,312 Cr

Shares outstanding (crore)9.88

Ownership

Promoter holding32.50% (+0.00 in a year)

Computed by MarketFriction from the standalone statements. Returns use average balances.

P/E 14.3 is at the 44th percentile of its own 9.4-year range (median 14.6, low 9.1, high 30.2).

P/B 1.60 is at the 1th percentile (median 3.18).

Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.

Period	MGL	Nifty 50	Difference
1 week	-3.2%	-2.8%	-0.4 pts
1 month	-3.0%	-6.8%	+3.8 pts
3 months	-7.4%	-7.6%	+0.2 pts
6 months	+12.7%	+0.4%	+12.3 pts
1 year	-17.3%	-9.9%	-7.3 pts
2 years	-45.9%	-13.6%	-32.3 pts
3 years	+1.6%	+14.2%	-12.6 pts
5 years	-4.9%	+27.9%	-32.8 pts

71 mutual fund schemes hold about ₹1,219 Cr. Over three months 7 bought more and 34 sold (share counts, price move removed).

Fund	Weight	Est. Cr	3m shares
Parag Parikh Flexi Cap Fund	0.25%	368	+104%
HDFC Multi Cap Fund	0.84%	174	-4%
UTI Value Fund	0.92%	88	-3%
ICICI Pru Energy Opportunities Fund	1.03%	85	-11%
Aditya Birla SL PSU Equity Fund	1.25%	76	-3%
Aditya Birla SL Value Fund	0.79%	54	-6%
UTI Dividend Yield Fund	1.24%	47	-2%
UTI ELSS Tax Saver Fund	1.25%	44	-2%
Bandhan Flexi Cap Fund	0.48%	36	+371%
Franklin India Dividend Yield Fund	1.29%	29	-1%
Tata Resources & Energy Fund	1.71%	24	-5%
DSP Natural Res & New Energy Fund	0.78%	20	-8%
DSP Natural Res & New Energy Fund	0.78%	19	-8%
Sundaram Value Fund	1.10%	14	-0%
Bandhan Infrastructure Fund	0.98%	14	+5%
UTI Infrastructure Fund	0.62%	13	+0%
Bandhan Multi Cap Fund	0.35%	11	+93%
Nippon India Nifty Smallcap 250 Index Fund	0.28%	10	-5%
Baroda BNP Paribas Value Fund	0.97%	10	+1%
Baroda BNP Paribas Multi Asset Fund	0.65%	9	-4%
Bandhan Multi Asset Allocation Fund	0.23%	9	+5%
Baroda BNP Paribas ESG Best-in-class Strategy Fund	1.25%	8	-1%
Baroda BNP Paribas Aggressive Hybrid Fund	0.46%	6	-3%
Baroda BNP Paribas Aggressive Hybrid Fund	0.46%	6	-3%
SBI Nifty Smallcap 250 Index Fund	0.28%	5	-5%

Red flags

F-score 5 of 8

No red flags in the latest statements and filings.

Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026

Sales ₹2,372 Cr +14.0% vs Jun 2025. Net profit ₹194 Cr -39.4%.

Activity

Compare

Company	Mcap (Cr)	P/E	ROCE
Adani Total Gas Ltd	64,713	106	15.1 %
Petronet LNG Ltd	42,442	10.1	22.6 %
Gujarat Energy Ltd	22,199	11.4	11.7 %
Indraprastha Gas Ltd	19,883	14.6	17.5 %
Confidence Petroleum India Ltd	2,898	21.5	9.23 %
IRM Energy Ltd	1,098	15.0	8.63 %
Axiom Gas Engineering Ltd	172	18.2	32.1 %

No bulk or block deals on record.

Ex-date	Action	Factor
2026-08-18	Dividend - Rs 18 Per Share
2026-02-13	Interim Dividend - Rs 12 Per Share
2025-08-14	Dividend - Rs 18 Per Share
2025-02-03	Interim Dividend - Rs 12 Per Share
2024-08-14	Annual General Meeting/Dividend - Rs 18 Per Share
2024-02-05	Interim Dividend - Rs 12 Per Share
2023-08-14	Annual General Meeting/Dividend - Rs 16 Per Share
2023-02-14	Interim Dividend - Rs 10 Per Share
2022-08-11	Annual General Meeting/Dividend - Rs 15.5 Per Share
2022-02-17	Interim Dividend - Rs 9.50 Per Share
2021-09-17	Annual General Meeting/Dividend - Rs 14 Per Share
2021-02-18	Interim Dividend - Rs 9 Per Share
2020-09-16	Annual General Meeting/Dividend - Rs 10.50 Per Share And Special Dividend - Rs 15 Per Share
2020-03-06	Interim Dividend - Rs 9.50 Per Share
2019-08-29	Annual General Meeting/ Dividend - Rs 10.50 Per Share
2019-02-07	Interim Dividend - Rs 9.50 Per Share
2018-09-07	Annual General Meeting/Dividend Rs 11/- Per Share
2018-02-20	Interim Dividend - Rs 8 Per Share (Purpose Revised)
2017-09-14	Annual General Meeting/Dividend - Rs 11/- Per Share
2017-02-17	Interim Dividend Rs 8/- Per Share (Purpose Revised)
2016-09-15	Annual General Meeting / Dividend - Rs 10/- Per Share + Special Dividend - Rs 7.5/- Per Share

Date	Type	What it says
2026-09-23	Concall / analyst meet	Schedule of meet
2026-09-16	Concall / analyst meet	Schedule of meet
2026-09-07	Concall / analyst meet	Schedule of meet
2026-08-26	Shareholder meeting	Voting results.
2026-08-26	Concall / analyst meet	Schedule of meet
2026-08-25	Shareholder meeting	Proceedings of Annual General Meeting held on August 25, 2026
2026-08-07	Concall / analyst meet	Transcript
2026-08-06	Concall / analyst meet	Schedule of meet
2026-08-06	Concall / analyst meet	Schedule of meet
2026-08-03	General Updates	Business Responsibility and Sustainability Report for the financial year 2025-26
2026-08-03	Shareholder meeting	Notice of Annual General Meeting to be held on August 25, 2026
2026-08-03	General Updates	General Updates-Letter sent to Shareholders whose email address are not registered.
2026-08-03	Record Date	Record date for the purpose of Final Dividend is 18-Aug-2026.
2026-07-31	Concall / analyst meet	Link of Recording
2026-07-31	Concall / analyst meet	Presentation
2026-07-30	Board meeting outcome	Mahanagar Gas Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-27	Concall / analyst meet	Schedule of meet
2026-06-30	Appointment	Appointment of Mr Mukesh Panhotra as Vice President, Marketing of the company w.e.f. July 01, 2026.
2026-06-30	Retirement	Retirement
2026-06-30	Appointment	Appointment of Mr Sanket Dhotre as Vice President, Human Resources & Corporate Social Responsibility of the company w.e.f. July 01, 2026.
2026-06-09	Concall / analyst meet	Schedule of meet
2026-05-31	Retirement	Retirement
2026-05-20	Appointment	Appointment of Mr Praveer Kumar Srivastava as Managing Director of the company w.e.f. April 30, 2026.
2026-05-20	Appointment	Appointment of Mr Deepak Gupta as Chairman of the company w.e.f. March 01, 2026.
2026-05-20	Shareholder meeting	Voting results.

Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.

No short selling reported to NSE in our files.

Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.

Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Mahanagar Gas Ltd?

Mahanagar Gas Ltd (MGL) has a market capitalisation of Rs 10,377 Cr. at the 2026-10-01 close.

What is the P/E ratio of Mahanagar Gas Ltd?

Mahanagar Gas Ltd trades at a P/E of 14.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Mahanagar Gas Ltd's latest quarterly results?

In the Jun 2026 quarter, Mahanagar Gas Ltd sales was Rs 2,372 Cr (+14.0% vs Jun 2025) and net profit was Rs 194 Cr.

What is the 52-week high and low of Mahanagar Gas Ltd?

The 52-week high is Rs 1,335.40 and the 52-week low is Rs 900.00.