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NSE MGL · BSE 539957 · Natural Gas Utilities · NIFTY 500

Mahanagar Gas Share Price

Market closed · updated 25 Sep, 4:42 PM IST
₹1,083.60 ▼ −₹12.27 · 1.12% NSE · as of 24 Sep 2026, 8:49 AM · BSE ₹1,079.45
Today's range
₹1,077.55Low₹1,091.20High
52-week range
₹902.00Low · 23 Mar 2026₹1,349.50High · 8 Oct 2025

Mahanagar Gas Overview

Where the price stands, how it has moved and how it sits against its averages.

Mahanagar Gas shares last traded at ₹1,083.60 on the NSE, down 1.12% on the day. That is 19.7% below the 52-week high of ₹1,349.50 and 20.1% above the 52-week low of ₹902.00. The stock trades at 16.21× earnings, above the sector average of 13.18. Its market value is ₹10,709 Cr.

Price returns

1 Day▼ −1.12%
5 Days▲ +1.18%
This month▲ +2.20%
3 Months▼ −8.63%
6 Months▲ +16.37%
This year▼ −3.81%
1 Year▼ −16.47%

Against the market: 1 Month ▲ +1.45% · 3 Months ▼ −5.99% · 6 Months ▲ +17.06% · This year ▲ +9.55% · 1 Year ▼ −8.35%

Shading grows with the size of the move. Prices refresh every 15 minutes while the market is open (9:15 AM–3:30 PM IST); next update from Mon 28 Sep, 9:15 AM.

Moving averages — price is above 2 of 6

  1. 100-day average₹1,111.06 ▼ price 2.5% below
  2. 300-day average₹1,101.68 ▼ price 1.6% below
  3. 50-day average₹1,101.43 ▼ price 1.6% below
  4. 20-day average₹1,086.37 ▼ price 0.3% below
  5. Today's price₹1,083.60
  6. 10-day average₹1,082.24 ▲ price 0.1% above
  7. 5-day average₹1,075.62 ▲ price 0.7% above

Averages above today's price sit higher on the ladder. Price above most of its averages is usually read as an upward trend.

Mahanagar Gas Financial Results

Revenue and net profit in ₹ crore, with the full statements underneath.

Revenue₹ crore
9,065
Net profit₹ crore · losses below zero
1,285
841

Year by year

Fiscal yearRevenueGrowthNet profitNet marginEPSDividend
FY 2026 ₹9,065 Cr ▲ +13.6% ₹841 Cr 9.3% ₹85.15 ₹30.00
FY 2025 ₹7,979 Cr ▲ +15.4% ₹1,041 Cr 13.0% ₹105.34 ₹30.00
FY 2024 ₹6,914 Cr ▼ −0.1% ₹1,285 Cr 18.6% ₹130.06 ₹30.00
FY 2023 ₹6,921 Cr ▲ +78.2% ₹790 Cr 11.4% ₹79.98 ₹26.00
FY 2022 ₹3,885 Cr ▲ +66.2% ₹597 Cr 15.4% ₹60.43 ₹25.00
FY 2021 ₹2,338 Cr ▼ −28.4% ₹620 Cr 26.5% ₹62.72 ₹23.00
FY 2020 ₹3,264 Cr — ₹794 Cr 24.3% ₹74.59 ₹20.00

Balance sheet — FY26

Owes (liabilities)Shareholders' equity
28%
72%
  • Total assets₹8,981 Cr
  • Total liabilities₹2,554 Cr
  • Shareholders' equity₹6,428 Cr
  • Total debt₹223 Cr
  • Cash & investments₹1,161 Cr
  • Current ratio0.94×
  • Revenue growth, 5 yr31.13% a year
  • EPS growth, 5 yr6.31% a year
  • Operating margin (TTM)9.27%
  • Net margin (TTM)7.62%

Cash flow — FY26

Operating activities
▲ ₹1,162 Cr
Investing activities
▼ −₹888 Cr
Financing activities
▼ −₹369 Cr
Free cash flow
▲ ₹87 Cr
Net change in cash
▼ −₹95 Cr

Right of the line = cash coming in, left = cash going out. Free cash flow = cash from operations minus capital spending.

Full financial statements, FY20–FY26
₹ croreFY20FY21FY22FY23FY24FY25FY26
Total revenue3,264.492,337.793,884.906,920.966,914.357,978.979,065.26
Cost of revenue441.34303.34538.53851.08861.201,035.601,179.70
Gross profit———————
Operating expenses2,373.381,577.513,156.845,967.915,347.816,761.058,024.55
Operating income891.11760.29728.05953.051,566.541,217.921,040.71
Depreciation161.73173.67196.27231.14277.36352.05409.88
Profit before tax983.54833.60806.261,055.541,728.111,369.591,134.59
Tax246.71214.03209.31265.49443.42329.14294.04
Net profit793.51619.58596.95790.051,284.691,040.57841.16
EPS (₹)74.5962.7260.4379.98130.06105.3485.15
Dividend per share (₹)20.0023.0025.0026.0030.0030.0030.00

What Analysts Say

30 analysts

Recommendations from 30 analysts who cover Mahanagar Gas.

Buy average rating 2.00 on a 1–5 scale

▲ 24 bullish (80.0%) · 3 hold (10.0%) · ▼ 3 bearish (10.0%)

Votes

Strong Buy
10 (33%)
Buy
14 (47%)
Hold
3 (10%)
Sell
2 (7%)
Strong Sell
1 (3%)

How the votes changed

Rating3M ago2M ago1M ago1W agoNow3-month change
Strong Buy9891010 ▲ +1
Buy1213141414 ▲ +2
Hold66433 ▼ −3
Sell11112 ▲ +1
Strong Sell22221 ▼ −1

Analyst ratings are opinions, not a guarantee of returns.

Mahanagar Gas vs Peers

Side by side with other natural gas utilities companies. The small bars compare each column.

CompanyPriceChangeMarket capP/EP/BROE (5 yr)Net marginDiv. yieldRating
Mahanagar Gas ₹1,083.60 ▼ −1.12% ₹10,709 Cr 16.21 1.68 19.31% 7.62% 2.75% This stock
Gail (India) ₹172.40 ▼ −0.20% ₹1,13,355 Cr 14.85 1.26 13.20% 5.34% 3.50% Neutral
Adani Total Gas ₹613.40 ▼ −1.89% ₹67,632 Cr 118.48 15.97 18.34% 9.89% 0.04% Bearish
Gujarat Energy Ltd ₹235.35 ▼ −0.88% ₹22,081 Cr 12.26 1.43 16.05% 5.73% — Bearish
Indraprastha Gas ₹145.55 ▼ −1.05% ₹20,398 Cr 13.83 1.86 18.79% 8.65% 2.61% Bearish
Confidence Petroleum India ₹87.00 ▼ −2.48% ₹2,890 Cr 26.11 1.71 9.01% 2.04% 0.14% Bullish

Rating = the data provider's overall technical view of each peer. Company names link to their own pages.

Shareholding Pattern

Who owns Mahanagar Gas shares, quarter by quarter (latest on top).

PromoterFIIMFOther
Jun '26
32.5%
23.2%
11.2%
33.1%
Mar '26
Dec '25
Sep '25
HolderSep '25Dec '25Mar '26Jun '26Change
Promoter32.50%32.50%32.50%32.50% 0.00 pts
FII23.59%24.89%24.13%23.21% ▼ −0.92 pts
MF11.19%9.35%8.82%11.18% ▲ +2.36 pts
Other32.72%33.26%34.55%33.11% ▼ −1.44 pts

Mahanagar Gas Key Metrics

Each ratio placed against a benchmark — the sector average, the company's own 5-year average, or a common rule of thumb.

Mahanagar GasBenchmarkComfortable → stretched

Valuation Is the price reasonable?

P/E (TTM)Price ÷ yearly earnings per share
16.21
▲ 23% above the sector average of 13.18
P/E, 12-month rangeLow 8.85 · high 16.67
94%
Today's P/E sits 94% of the way from its low to its high
P/BPrice ÷ book value per share
1.68
P/SPrice ÷ sales per share
1.15
P/CFPrice ÷ cash flow per share
9.49
PEGP/E ÷ earnings growth (≈1 is fair)
7.15

Profitability Of every ₹100 of sales, how much is kept?

Operating marginKept after running costs
9.27%
▼ below its 5-yr average of 15.84%
Pre-tax marginKept before tax
10.25%
▼ below its 5-yr average of 17.53%
Net marginKept as profit
7.62%
▼ below its 5-yr average of 13.10%

Returns & efficiency How well does it use its money?

Return on equityProfit on shareholders' money
13.67%
▼ below its 5-yr average of 19.31%
Return on assetsProfit on everything it owns
9.73%
▼ below its 5-yr average of 13.54%
Return on investmentProfit on long-term capital
12.53%
▼ below its 5-yr average of 17.79%

Growth Is the business getting bigger?

Revenue — last 12 months
+11.3%
▲ growing
Revenue — 3 yr, a year
+9.4%
▲ growing
Revenue — 5 yr, a year
+31.1%
▲ growing (off the scale)
EPS — last 12 months
−33.1%
▼ shrinking (off the scale)
EPS — 3 yr, a year
+2.1%
▲ growing
EPS — 5 yr, a year
+6.3%
▲ growing
Dividend — 3 yr, a year
+4.9%
▲ growing
Book value — 5 yr, a year
+14.7%
▲ growing

Financial strength Can it pay its bills and debts?

Debt to equityBorrowings for every ₹1 of shareholders' money
0.03×
✓ Low debt
Current ratioShort-term assets for every ₹1 due within a year
0.94×
! Tight
Quick ratioLike the current ratio, without inventory
0.90×
• Adequate
Interest coverOperating profit ÷ interest to pay
32.36×
✓ Strong
Payout ratioShare of profit paid as dividend
21.14%
• Keeps most

Per share What each share stands for

EPS (TTM)
₹72.42
Book value
₹650.57
Cash flow
₹115.13
Dividend
₹30.00
Revenue
₹949.74

The share price is 1.67× the book value behind each share.

Benchmarks: sector averages and 5-year averages come from the data provider; the debt and liquidity bands are common rules of thumb, not investment advice.

All 105 metrics from the data provider

Valuation

P/E excluding extraordinary items, most recent fiscal year12.83
Current Dividend Yield - Common Stock Primary Issue, LTM2.75
Price to Book - most recent fiscal year1.68
P/E Basic excluding extraordinary items - TTM16.21
P/E including extraordinary items - TTM15.09
P/E excluding extraordinary items low, trailing 12 months8.85
Price to Tangible Book - most fiscal year1.79
Dividend Yield - 5 Year Average2.59
Price to sales - most recent fiscal year1.19
Dividend Yield - indicated annual dividend divided by closing price2.75
Price to Cash Flow per share - trailing 12 month9.49
Peg Ratio7.15
P/E Normalized, most recent fiscal year12.74
P/E excluding extraordinary items high, trailing 12 months16.67
P/E excluding extraordinary items, most recent fiscal year quarter15.09
Price to sales - trailing 12 month1.15
Net Debt, LFY−9,375.80

Per share

Dividend Per Share - 5 year average28.20
Cash Flow per share - trailing 12 month115.13
Cash Flow per share - most recent fiscal year126.59
EPS including extraordinary items - trailing 12 month72.42
EPS including extraordinary items - most recent fiscal year85.15
EBITD per share - trailing 12 month130.86
Revenue/share - trailing 12 month949.74
EPS excluding extraordinary items - trailing 12 month72.42
EPS Basic excluding extraordinary items - most recent fiscal year85.15
EPS Basic excluding extraordinary items - trailing 12 month72.42
Book value per share - most recent fiscal year650.71
Dividend per share - most recent fiscal year30.00
Revenue/share - most recent fiscal year917.74
EPS Normalized - most recent fiscal year85.76
Book value (tangible) per share - most recent fiscal year609.50
Dividends per share - trailing 12 month30.00
EPS excluding extraordinary items - most recent fiscal year85.15
Cash per share - most recent fiscal year117.49

Margins

Operating margin - trailing 12 month9.27
Operating margin - 1st historical fiscal year11.48
Operating Margin - 5 year average15.84
Net Profit Margin % - 1st historical fiscal year9.27
Net Profit Margin % - trailing 12 month7.62
Net Profit Margin - 5 year average13.10
Pretax Margin - 5 year average17.53
Pretax margin - 1st historical fiscal year12.52
Pretax margin - trailing 12 month10.25
Free Operating Cash Flow/Revenue, 5 Year Average0.65

Growth

EPS Change %, TTM over TTM−33.12
Revenue growth rate, 5 year31.13
EPS growth rate, 5 year6.31
Revenue Change % - most recent quarter 1 year ago13.88
Growth rate% - dividend, 3 year4.89
Growth rate% - EPS, 3 year2.11
Revenue/share (5 yr growth)31.13
Tangible Book Value, Total Equity, 5 Year CAGR13.29
Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year Interim CAGR2.23
Capital Spending growth rate, 5 year25.92
Revenue Change %, TTM over TTM11.31
Growth rate% - Revenue, 3 year9.41
Book value per share growth rate, 5 year14.74
EPS Change % - most recent quarter 1 year ago−39.28
Net Profit Margin growth rate, 5 year−18.95
Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR9.18
Total Debt, 5 Year CAGR24.64

Financial strength

Free Cash Flow - most recent fiscal year−2,097.80
LT debt/equity - most recent fiscal year0.02
Quick ratio - most recent fiscal year0.90
Payout ratio - trailing 12 month24.85
Current ratio - most recent fiscal year0.94
Total debt/total equity - most recent fiscal year0.03
Net Interest coverage - trailing 12 month32.36
Payout ratio - most recent fiscal year21.14

Returns & efficiency

Return on average equity - 5 year average19.31
Net Income/employee - trailing 12 month98,02,606.00
Revenue/employee - most recent fiscal year13,86,12,500.00
Return on investment - most recent fiscal year12.53
Return on average assets - most recent fiscal year9.73
Receivables turnover - most recent fiscal year21.91
Inventory turnover - most recent fiscal year104.69
Revenue/employee - trailing 12 month12,86,98,100.00
Return on average assets - 5 year average13.54
Net Income/employee - most recent fiscal year1,28,52,450.00
Asset turnover - most recent fiscal year1.05
Return on average equity - most recent fiscal year13.67
Return on investment - 5 year average17.79

Price & volume

Market Cap10,808.91
52 week Low Date23 Mar 2026
Price - 1 Day % Change2.39
Relative (S&P500) price percent change - 13 week−5.99
Avg trading volume last 10 days0.15
Price - 13 week price percent change−8.63
Price - 52 week price percent change−16.47
Avg Trading Volume Last 3 months5.17
Price - 5 Day % Change1.18
Price % Change Month To Date2.20
Relative (S&P500) price percent change - 04 week1.45
52 week High Date8 Oct 2025
Price - 26 week price percent change16.37
PDATE23 Sep 2026
Price - YTD price percent change−3.81
Relative (S&P500) price percent change - 52 week−8.35
NPRICE1,092.80
Relative (S&P500) price percent change - 26 week17.06
52 week Low900.00
52 week High1,335.40
Beta1.60
Relative (S&P500) price percent change - Year to Date9.55

Dividends & Corporate Events

Payouts to shareholders, splits and bonus issues, and company meetings — newest first.

Dividend per share₹ per share, by fiscal year
₹30.00
₹30.00
  • Dividend yield2.75%
  • Payout ratio21.14%
  • 5-year average dividend₹28.20 a share
  • Latest dividend₹18.00 per share · 18 Aug 2026

Corporate calendar

  • MeetingAnnual General Meeting
  • Dividend₹18.00 per share · 180% · Final dividend
  • BoardQuarterly Results
  • MeetingPostal Ballot
  • BoardAudited Results & Final Dividend
  • Dividend₹12.00 per share · 120% · Interim dividend
  • BoardQuarterly Results & Interim Dividend
  • MeetingPostal Ballot
Show 14 older events
  • BoardQuarterly Results
  • MeetingAnnual General Meeting
  • Dividend₹18.00 per share · 180% · Final dividend
  • BoardQuarterly Results
  • BoardAudited Results & Final Dividend
  • MeetingPostal Ballot
  • Dividend₹12.00 per share · 120% · Interim dividend
  • BoardQuarterly Results & Interim Dividend
  • MeetingPostal Ballot
  • BoardQuarterly Results
  • Dividend₹18.00 per share · 180% · Final dividend
  • Dividend₹12.00 per share · 120% · Interim dividend
  • Dividend₹16.00 per share · 160% · Final dividend
  • Dividend₹10.00 per share · 100% · Interim dividend

About Mahanagar Gas

Natural Gas Utilities

Mahanagar Gas Limited is an India-based natural gas distribution company. The Company is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane and Raigad districts of Maharashtra. It operates through the selling of the natural gas segment. It offers PNG for domestic, commercial and industrial purposes. Its domestic PNG is used for various purposes, like cooking and water heating. It is also used by hospitals, nursing homes, hotels, flight kitchens, restaurants, places of worship and others. It offers PNG for various industries, including metal, pharmaceuticals, food and beverages, printing and dyeing, oil mills, power generation and air conditioning. It supplies CNG to Brihanmumbai Electricity Supply and Transport/Thane Municipal Transport/Maharashtra State Road Transport Corporation/Navi Mumbai Municipal Transport (BEST/TMT/MSRTC/NMMT) buses, light commercial vehicles (LCVs)/ tempos/ trucks/private buses. It also installs gas geysers.

Key people

  • Rajesh D. PatelChief Financial Officer, Vice President - Finance and R&T
  • Atul Trimbak PrabhuCompany Secretary and Compliance Officer
  • Praveer Kumar SrivastavaManaging Director, Additional Director
  • Ajay SinhaDeputy Managing Director, Additional Director

Company facts

  • NSE symbolMGL
  • BSE code539957
  • ISININE002S01010
  • IndustryNatural Gas Utilities
  • IndexNIFTY 500
  • Market cap₹10,709 Cr
  • Revenue (FY26)₹9,065 Cr
  • Net profit (FY26)₹841 Cr

In the News

Recent headlines about Mahanagar Gas — they open on Mint in a new tab.

Stock data comes from the exchange feed via our data provider and may be delayed. It is for information only and is not a recommendation to buy or sell. See all stocks →

Frequently Asked Questions

Mahanagar Gas (NSE: MGL) last traded at ₹1,083.60 on the NSE, down 1.12% (₹12.27) on the day, as of 24 Sep 2026, 8:49 AM. On the BSE it was ₹1,079.45. The day's range was ₹1,077.55 – ₹1,091.20.

Mahanagar Gas's 52-week high is ₹1,349.50 (8 Oct 2025) and its 52-week low is ₹902.00 (23 Mar 2026). At ₹1,083.60 the share is 19.7% below its high and 20.1% above its low.

Mahanagar Gas's market capitalisation is ₹10,709 Cr (₹10,709 Cr). It is part of the NIFTY 500 index.

Mahanagar Gas's P/E ratio (trailing 12 months) is 16.21. The sector average is 13.18, so investors pay 23% more for each rupee of its earnings than for the average company in its sector. Its earnings per share (TTM) are ₹72.42.

Mahanagar Gas shares are down 16.47% over the last year, down 3.81% so far this year, up 16.37% over 6 months, down 8.63% over 3 months. Over the last year the stock did 8.35% worse than the market.

In FY26 (year to Mar 2026), Mahanagar Gas reported revenue of ₹9,065 Cr (up 13.61% on the year before) and a net profit of ₹841 Cr. Earnings per share were ₹85.15.

Yes. Mahanagar Gas's latest dividend is ₹18.00 per share (180%, final dividend), with an ex-date of 18 Aug 2026. The dividend yield is 2.75%. It has paid 8 dividends in the records shown on this page.

Of 30 analysts covering Mahanagar Gas, 24 are bullish (10 strong buy, 14 buy), 3 say hold and 3 are bearish. The consensus is Buy (average rating 2.00 on a scale where 1 is Strong Buy and 5 is Strong Sell). Analyst views are opinions, not a guarantee.

As of Jun 2026: Promoter 32.50%, FII 23.21%, MF 11.18%, Other 33.11%.

Mahanagar Gas's listed peers in Natural Gas Utilities include Gail (India), Adani Total Gas, Gujarat Energy Ltd, Indraprastha Gas, Confidence Petroleum India. By market capitalisation it ranks #5 of 6 in this group.