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Mahanagar Gas Ltd.

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mahanagargas.comBSE: 539957NSE: MGL
Market Cap₹ 10,712 Cr.
Current Price
High / Low₹ 1,378 / 900
Stock P/E15.0
Book Value₹ 670
Price to Book1.42
Dividend Yield2.77 %
ROCE18.8 %
ROE13.7 %
Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

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Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence
78%
View full sector analysis →

PROS

  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 27.2%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 20.1%
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.31x)
  • Company has been maintaining a healthy dividend payout of 35.2%

CONS

  • Recent results are weak - TTM profit is down 36.5% versus prior year
  • Expensive relative to growth - PEG of 7.2

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsGas TransmissionGas Transmission/Marketing
Part ofNIFTY TOTAL MKTNIFTY SML250 Q50NIFTY 500NIFTY SMLCAP 250
S.No.Name
1.GAIL173.9011.57114340.983.164670.9996.0841350.1816.7110.1617.99
2.ATGL594.80103.4765416.700.041417.20757.6619067.901172.6216.9614.67
3.GUJENERGY241.6511.9522672.353.6810074.00207.4797713.80140.3511.3214.41
4.IGL151.9015.6321266.023.13237.92-44.395043.4416.5618.236.95
5.MGL1084.5014.9710712.452.77192.64-39.382598.9013.8818.7813.18
6.CFEL48.9217.01122.400.5111.724995.65358.40774.598.5911.04
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,6901,7291,7241,7711,8321,9632,0322,1522,2822,2562,2682,2592,599
1,1691,2501,2751,3761,3951,5491,7071,7571,7811,9181,9161,9992,371
Operating Profit521479449395437413325395501338352260228
OPM %30.84%27.70%26.03%22.30%23.84%21.06%15.99%18.35%21.94%14.97%15.52%11.51%8.77%
39444844364742423229302930
Interest3236333455656
Depreciation626668818384909596104104106109
Profit before Tax496454426352386373273338432258272178258
Tax %25.68%25.49%25.50%26.04%25.17%23.09%18.41%28.25%26.29%25.08%25.71%26.25%25.34%
Net Profit0000289284221247318191201130193
37.3034.2732.1126.3829.2329.0322.5724.4432.1819.3720.3613.1519.54

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023Mar 2024Mar 2025Mar 2026TTM
6,2996,2907,2648,2469,382
5,1154,4465,6976,7958,204
Operating Profit1,1841,8441,5671,4511,178
OPM %18.80%29.31%21.57%17.59%12.55%
112175170120118
Interest913142122
Depreciation231277352410423
Profit before Tax1,0561,7281,3701,135965
Tax %25.15%25.66%24.05%25.92%25.54%
Net Profit7901,2851,040841719
EPS79.98130.06105.3185.15—
Dividend Payout %32.51%23.07%28.49%35.23%—

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
—
3 Years:
9%

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
—
3 Years:
2%

STOCK PRICE CAGR

10 Years:
6%
5 Years:
-1%
3 Years:
2%
1 Year:
-17%

RETURN ON EQUITY

10 Years:
—
5 Years:
—
3 Years:
20%
Last Year:
14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 18

₹ 1.80

Rs.18.0000 per share(180%)Final Dividend

2026

Feb 13

₹ 1.20

Rs.12.0000 per share(120%)Interim Dividend

2025

Aug 14

₹ 1.80

Rs.18.0000 per share(180%)Final Dividend

2025

Feb 3

₹ 1.20

Interim Dividend

2024

Aug 14

₹ 1.80

Rs.18.0000 per share(180%)Final Dividend

2024

Feb 5

₹ 1.20

Rs.12.0000 per share(120%)Interim Dividend

2023

Aug 14

₹ 1.60

Rs.16.0000 per share(160%)Final Dividend

2023

Feb 14

₹ 1

Rs.10.0000 per share(100%)Interim Dividend

2022

Aug 11

₹ 1.55

Rs.15.5000 per share(155%)Final Dividend

2022

Feb 17

₹ 0.95

Rs.9.5000 per share(95%)Interim Dividend

2021

Sep 17

₹ 1.40

Rs.14.0000 per share(140%)Final Dividend

2021

Feb 18

₹ 0.90

Rs.9.0000 per share(90%)Interim Dividend

2020

Sep 16

₹ 1.05

Audited Results & Final Dividend

2020

Sep 16

₹ 1.50

Rs.15.0000 per share(150%)Special Dividend

2018

Sep 7

₹ 1.10

2018

Feb 20

₹ 0.80

Interim Dividend

2017

Sep 14

₹ 1.10

Rs.11.0000 per share(110%)Final Dividend

2017

Feb 17

₹ 0.80

Interim Dividend

2016

Sep 15

₹ 1.75

Rs.17.5000 per share(175%)Final Dividend

2026

Aug 4

₹ 1.80

Rs.18.0000 per share(180%)Final Dividend

Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital99999999
Minority Interest051514
4,0355,0405,7796,329
95120168144
Trade Payables322348431479
1,4811,6421,8101,916
Total Liabilities6,0327,2538,3028,981
3,0264,2354,8545,392
Capital Work in Progress7098231,0681,270
1,3101,0691,1621,148
34425263
0296364459
Cash & Bank228426333114
726362468536
Total Assets6,0327,2538,3028,981

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023Mar 2024Mar 2025Mar 2026
1,2331,5681,4071,162
Cash from Investing-649-1,082-1,053-888
Cash from Financing-285-499-332-369
35-1322-95

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
32.5032.5032.5032.5032.5032.5032.5032.5032.51
31.4934.2025.7523.7625.4823.5924.8924.1323.22
16.6715.4621.1023.8222.5222.8920.8321.0122.53
10.0010.0010.0010.0010.0010.0010.0010.0010.00
9.347.8410.659.929.5011.0211.7812.3511.73

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07
Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-07 - Mahanagar Gas Limited has informed the Exchange about Schedule of meet

2026-08-26
Shareholders meeting

2026-08-26 - Mahanagar Gas Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 25, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-26
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - Mahanagar Gas Limited has informed the Exchange about Schedule of meet

2026-08-25
Shareholders meeting

2026-08-25 - Mahanagar Gas Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 25, 2026

2026-08-07
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Mahanagar Gas Limited has informed the Exchange about Transcript

2026-08-06
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-06 - Mahanagar Gas Limited has informed the Exchange about Schedule of meet

2026-08-06
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-06 - Mahanagar Gas Limited has informed the Exchange about Schedule of meet

2026-08-04
Copy of Newspaper Publication

2026-08-04 - Mahanagar Gas Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-03
General Updates

2026-08-03 - Mahanagar Gas Limited has informed the Exchange about Business Responsibility and Sustainability Report for the financial year 2025-26

News

Recent coverage and analyst commentary for MGL

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