Fortune India 500 2025 edition
Rank#337- Total income
- ₹7,431 Cr
- Profit
- ₹1,041 Cr
Last year #344
Mahanagar Gas Limited - energy and power in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Active Listed - NSE: MGL · BSE: 539957 Public Limited Company energy and power Fortune India 500 · #337 Nifty 500
Market Cap
₹10,106 Cr
MGL · NSE
Share Price
₹1,036.20
+1.28% today
Revenue
₹8,246 Cr
FY 2025-26 · +13.5% YoY
EBITDA
₹1,446 Cr
Margin 17.5%
Net Profit
₹752 Cr
FY 2025-26 · -18.9% YoY
P/E (TTM)
14.1x
P/B 1.6x
ROE
13.7%
ROCE 18.0%
Debt / Equity
0.03
Interest cover 2.0x
About Mahanagar Gas Limited
Data last updated:
Mahanagar Gas Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the oil and gas distribution and transmission segment of the energy and power sector. It was incorporated on 08 May 1995 and has been in existence for over 31 years.
Mahanagar Gas is ranked #337 on the Fortune India 500 (2025). It is part of the Nifty 500 and BSE 500 indices.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L40200MH1995PLC088133. Its GSTIN is 27AABCM4640G1ZN (Maharashtra). It is a listed company as per MCA records. Its shares are listed on BSE: 539957 and NSE: MGL.
The company has an authorised share capital of ₹280 Cr and a paid-up capital of ₹98.78 Cr. It is led by directors including Praveer Kumar Srivastava (Managing Director) and Ajay Sinha (Whole-Time Director).
Its last annual general meeting (AGM) was held on 25 August 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mgl House Block No.G – 33 Bandra – Kurla Complex Bandra (E), Mumbai, Maharashtra, India – 400051.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹8,245.7 Cr, a growth of 13.5% compared to the previous year. For the same year it recorded a net profit of ₹752.41 Cr (net margin 9.1%) and EBITDA of ₹1,445.56 Cr (EBITDA margin 17.5%). The net worth stands at ₹6,427.61 Cr (up 9.4% YoY). Total assets are valued at ₹6,729.87 Cr (up 9.4% YoY).
The company has about 526 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Mahanagar Gas. As per MCA filings, the company has open charges of ₹82.2 Lakh and satisfied charges of ₹1,251.92 Cr on record. Court records list 736 cases involving the company, including 597 filed by the company and 139 filed against it; 107 cases are pending. The company has 24 deals on record (21 market trades, 1 secondary share transfer, 1 convertible or debt financing), with disclosed funding of ₹9.44 Cr; the latest was in April 2026. Its 6 peer companies in the Oil and Gas industry (Distribution and Transmission), with the same principal business activity (manufacture of gas, distribution of gaseous fuels) are compared by revenue, 4 larger and 2 smaller; the largest is Petronet LNG Limited with revenue of ₹51,755 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahanagargas.com.
Company details
CIN L40200MH1995PLC088133
Registration Number 088133
Incorporation Date 08 May 1995
ROC Mumbai
Listing Status Listed - Listed on NSE (MGL); Listed on BSE (539957)
Company Status Active
Date of Last AGM 25 August 2026
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Mahanagar Gas has one previous CIN (Corporate Identification Number): U40200MH1995PLC088133. The current CIN is L40200MH1995PLC088133, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L40200MH1995PLC088133 | Current |
| U40200MH1995PLC088133 | Previous |
Key People
Praveer Kumar Srivastava Managing Director Ajay Sinha Whole-Time Director Malvika Sahni Sinha Director Recognitions & Rankings of Mahanagar Gas
India's Most Valuable Companies 2022 edition · Source: Hurun India
Rank#371- Valuation
- ₹8,511 Cr
2021 #326
Stock market indices
Nifty 500 BSE 500
Contact details
Mahanagar Gas Limited's registered office is in Mumbai, Maharashtra. Its website is mahanagargas.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressMgl House Block No.G – 33 Bandra – Kurla Complex Bandra (E), Mumbai, Maharashtra, India – 400051
- IndustryEnergy and Power, Oil & Gas Distribution & Transmission
To see the full contact details of Mahanagar Gas Limited, buy the company report.
Comprehensive company report
Mahanagar Gas Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Mahanagar Gas operates one associated brand: Mahanagar Gas. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Natural gas is distributed to households and industries in Mumbai. | mahanagargas.com |
Business activity
The main business activity of Mahanagar Gas is electricity, gas, steam and air condition supply. In detail, this covers manufacture of gas, distribution of gaseous fuels.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D2 | Manufacture of gas, distribution of gaseous fuels |
To see the full business activity and turnover split of Mahanagar Gas Limited, buy the company report.
Financials of Mahanagar Gas Limited
FY 2025-26 filings availableMahanagar Gas Limited reported revenue of ₹8,245.7 Cr (up 13.5% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹8,246 Cr
+13.5% YoY
EBITDA
₹1,446 Cr
-7.9% YoY
Profit After Tax
₹752 Cr
-18.9% YoY
Net Worth
₹6,428 Cr
+9.4% YoY
Total Assets
₹6,730 Cr
+9.4% YoY
Total Debt
₹223 Cr
+10.9% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Income statement | |||
| Revenue | 8,246 | 7,264 | 6,290 |
| Revenue growth | +13.5% | +15.5% | - |
| EBITDA | 1,446 | 1,569 | 1,844 |
| EBITDA margin | +17.5% | +21.6% | +29.3% |
| Profit before tax | 1,135 | 1,370 | 1,728 |
| Net profit | 752 | 927 | 1,208 |
| Net profit margin | +9.1% | +12.8% | +19.2% |
| EPS (₹) | 85.15 | 105.31 | 130.06 |
| Balance sheet | |||
| Total assets | 6,730 | 6,151 | 5,333 |
| Net worth | 6,428 | 5,877 | 5,138 |
| Total debt | 223 | 201 | 141 |
| Cash & bank | 114 | 333 | 426 |
| Net working capital | (1,076) | (947) | (787) |
| Cash flow | |||
| Cash from operations | 1,162 | 1,407 | 1,568 |
| Cash from investing | (888) | (1,053) | (1,057) |
| Cash from financing | (369) | (332) | (499) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,373 | 2,052 | 2,060 | 2,050 | 2,083 | 1,964 | 1,847 | 1,786 |
| Revenue growth (YoY) | +13.9% | +4.5% | +11.5% | +14.8% | +25.1% | - | - | - |
| Other income | 30.43 | 29.10 | 29.60 | 29.02 | 32.15 | 42.02 | 41.99 | 46.93 |
| EBITDA | 342 | 258 | 351 | 336 | 500 | 394 | 325 | 413 |
| EBITDA margin | +14.4% | +12.6% | +17.1% | +16.4% | +24.0% | +20.1% | +17.6% | +23.1% |
| Depreciation | 109 | 106 | 104 | 104 | 96.09 | 92.52 | 91.07 | 84.26 |
| Interest | 5.93 | 4.87 | 6.40 | 5.12 | 4.57 | 4.17 | 3.49 | 3.20 |
| Profit before tax | 258 | 176 | 271 | 256 | 431 | 339 | 272 | 373 |
| Tax | 65.37 | 46.70 | 69.86 | 64.66 | 113 | 92.47 | 51.05 | 86.11 |
| Net profit | 193 | 130 | 201 | 191 | 319 | 247 | 221 | 287 |
| EPS (₹) | 19.54 | 13.15 | 20.36 | 19.37 | 32.26 | 25.01 | 22.39 | 29.03 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 8,240 | 7,261 | 6,245 | 6,299 | 3,560 | 2,153 | 2,972 |
| Revenue growth | +13.5% | +16.3% | -0.9% | +76.9% | +65.4% | -27.6% | - |
| EBITDA | 1,451 | 1,570 | 1,843 | 1,184 | 924 | 934 | 1,053 |
| EBITDA margin | +17.6% | +21.6% | +29.5% | +18.8% | +26.0% | +43.4% | +35.4% |
| Profit before tax | 1,141 | 1,371 | 1,733 | 1,056 | 806 | 834 | 984 |
| Net profit | 758 | 928 | 1,212 | 790 | 597 | 620 | 794 |
| Net profit margin | +9.2% | +12.8% | +19.4% | +12.5% | +16.8% | +28.8% | +26.7% |
| EPS (₹) | 85.73 | 105.41 | 130.50 | 79.98 | 60.43 | 62.72 | 80.33 |
| Balance sheet | |||||||
| Total assets | 6,718 | 6,134 | 5,335 | 4,283 | 3,727 | 3,330 | 3,038 |
| Net worth | 6,434 | 5,878 | 5,143 | 4,134 | 3,597 | 3,232 | 2,953 |
| Total debt | 219 | 198 | 139 | 115 | 103 | 74.10 | 66.61 |
| Cash & bank | 114 | 333 | 398 | 228 | 465 | 512 | 229 |
| Net working capital | (1,078) | (964) | (805) | (844) | (549) | (365) | (545) |
| Cash flow | |||||||
| Cash from operations | 1,147 | 1,420 | 1,563 | 969 | 904 | 806 | 985 |
| Cash from investing | (874) | (1,056) | (1,267) | (649) | (539) | (444) | (755) |
| Cash from financing | (368) | (341) | (312) | (285) | (310) | (349) | (242) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,372 | 2,051 | 2,058 | 2,049 | 2,081 | 1,963 | 1,758 | 1,786 |
| Revenue growth (YoY) | +14.0% | +4.5% | +17.1% | +14.7% | +30.9% | - | - | - |
| Other income | 30.37 | 28.99 | 29.41 | 28.87 | 31.93 | 41.82 | 46.29 | 46.77 |
| Total expenses | 2,029 | 1,791 | 1,706 | 1,711 | 1,581 | 1,568 | 1,443 | 1,373 |
| EBITDA | 343 | 260 | 352 | 338 | 501 | 395 | 314 | 413 |
| EBITDA margin | +14.5% | +12.7% | +17.1% | +16.5% | +24.1% | +20.1% | +17.9% | +23.1% |
| Depreciation | 109 | 106 | 103 | 104 | 95.93 | 95.10 | 79.11 | 84.21 |
| Interest | 5.73 | 4.77 | 6.30 | 5.01 | 4.49 | 4.10 | 3.38 | 3.13 |
| Profit before tax | 259 | 178 | 272 | 258 | 432 | 338 | 278 | 373 |
| Tax | 65.37 | 46.56 | 69.84 | 64.64 | 113 | 95.29 | 52.85 | 86.12 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 26 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,373 | 2,052 | 2,060 | 2,050 | 2,083 | 1,964 | 1,847 | 1,786 |
| Revenue growth (YoY) | +13.9% | +4.5% | +11.5% | +14.8% | +25.1% | - | - | - |
| Other income | 30.43 | 29.10 | 29.60 | 29.02 | 32.15 | 42.02 | 41.99 | 46.93 |
| EBITDA | 342 | 258 | 351 | 336 | 500 | 394 | 325 | 413 |
| EBITDA margin | +14.4% | +12.6% | +17.1% | +16.4% | +24.0% | +20.1% | +17.6% | +23.1% |
| Depreciation | 109 | 106 | 104 | 104 | 96.09 | 92.52 | 91.07 | 84.26 |
| Interest | 5.93 | 4.87 | 6.40 | 5.12 | 4.57 | 4.17 | 3.49 | 3.20 |
| Profit before tax | 258 | 176 | 271 | 256 | 431 | 339 | 272 | 373 |
| Tax | 65.37 | 46.70 | 69.86 | 64.66 | 113 | 92.47 | 51.05 | 86.11 |
| Net profit | 193 | 130 | 201 | 191 | 319 | 247 | 221 | 287 |
| EPS (₹) | 19.54 | 13.15 | 20.36 | 19.37 | 32.26 | 25.01 | 22.39 | 29.03 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Revenue | 8,246 | 7,264 | 6,290 |
| Revenue growth | +13.5% | +15.5% | - |
| Other income | 120 | 167 | 175 |
| Total expenses | 6,800 | 5,695 | 4,446 |
| Employee cost | 218 | 184 | 151 |
| EBITDA | 1,446 | 1,569 | 1,844 |
| EBITDA margin | +17.5% | +21.6% | +29.3% |
| Depreciation | 410 | 352 | 277 |
| Interest | 20.96 | 14.06 | 13.30 |
| Profit before tax | 1,135 | 1,370 | 1,728 |
| Tax | 294 | 329 | 443 |
| Net profit | 752 | 927 | 1,208 |
| Net profit margin | +9.1% | +12.8% | +19.2% |
| EPS (₹) | 85.15 | 105.31 | 130.06 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Equity & liabilities | |||
| Share capital | 98.78 | 98.78 | 98.78 |
| Reserves & surplus | 6,329 | 5,779 | 5,040 |
| Shareholders' funds (net worth) | 6,428 | 5,877 | 5,138 |
| Minority interest | 13.98 | 14.58 | 4.90 |
| Secured loans | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 223 | 201 | 141 |
| Total debt | 223 | 201 | 141 |
| Total liabilities | 6,730 | 6,151 | 5,333 |
| Assets | |||
| Gross block | 7,564 | 6,635 | 5,670 |
| Net block | 5,392 | 4,854 | 4,235 |
| Capital work in progress | 1,270 | 1,068 | 823 |
| Investments | 1,148 | 1,162 | 1,069 |
| Inventories | 62.58 | 52.31 | 42.07 |
| Sundry debtors | 459 | 364 | 296 |
| Cash & bank balances | 114 | 333 | 426 |
| Loans & advances | 165 | 143 | 124 |
| Total current assets | 801 | 892 | 889 |
| Total current liabilities | 1,877 | 1,839 | 1,676 |
| Net working capital | (1,076) | (947) | (787) |
| Total assets | 6,730 | 6,151 | 5,333 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Opening cash | 152 | 129 | 118 |
| Net cash from operating activities | 1,162 | 1,407 | 1,568 |
| Net cash from investing activities | (888) | (1,053) | (1,057) |
| Net cash from financing activities | (369) | (332) | (499) |
| Net change in cash | (94.55) | 22.38 | 11.47 |
| Closing cash | 114 | 333 | 426 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Growth | |||
| Sales growth | +13.5% | +15.5% | - |
| EBITDA growth | -7.9% | -14.9% | - |
| PBT growth | -17.2% | -20.8% | +9997.0% |
| Net income growth | -18.9% | -23.2% | - |
| Profitability & leverage | |||
| Net income margin | +10.2% | +14.3% | +20.4% |
| Return on capital employed | +18.0% | +24.1% | +36.2% |
| Return on net worth | +13.7% | +18.9% | +27.7% |
| Debt / equity | 0.03 | 0.03 | 0.03 |
| Long-term debt / equity | 0.02 | 0.03 | 0.02 |
| Interest cover | 2.02 | 1.16 | 0.85 |
| Efficiency & per share | |||
| Fixed asset turnover | 1.28 | 1.30 | 1.40 |
| Inventory turnover | 157.81 | 169.08 | 182.17 |
| Debtors turnover | 22.04 | 24.16 | 23.42 |
| EPS (₹) | 85.15 | 105.31 | 130.06 |
| Dividend per share (₹) | 30.00 | 30.00 | 30.00 |
| Book value per share (₹) | 650.70 | 595.01 | 520.19 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,372 | 2,051 | 2,058 | 2,049 | 2,081 | 1,963 | 1,758 | 1,786 |
| Revenue growth (YoY) | +14.0% | +4.5% | +17.1% | +14.7% | +30.9% | - | - | - |
| Other income | 30.37 | 28.99 | 29.41 | 28.87 | 31.93 | 41.82 | 46.29 | 46.77 |
| Total expenses | 2,029 | 1,791 | 1,706 | 1,711 | 1,581 | 1,568 | 1,443 | 1,373 |
| EBITDA | 343 | 260 | 352 | 338 | 501 | 395 | 314 | 413 |
| EBITDA margin | +14.5% | +12.7% | +17.1% | +16.5% | +24.1% | +20.1% | +17.9% | +23.1% |
| Depreciation | 109 | 106 | 103 | 104 | 95.93 | 95.10 | 79.11 | 84.21 |
| Interest | 5.73 | 4.77 | 6.30 | 5.01 | 4.49 | 4.10 | 3.38 | 3.13 |
| Profit before tax | 259 | 178 | 272 | 258 | 432 | 338 | 278 | 373 |
| Tax | 65.37 | 46.56 | 69.84 | 64.64 | 113 | 95.29 | 52.85 | 86.12 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 8,240 | 7,261 | 6,245 | 6,299 | 3,560 | 2,153 | 2,972 |
| Revenue growth | +13.5% | +16.3% | -0.9% | +76.9% | +65.4% | -27.6% | - |
| Other income | 119 | 166 | 175 | 112 | 85.74 | 80.51 | 98.95 |
| Total expenses | 6,789 | 5,691 | 4,402 | 5,115 | 2,636 | 1,219 | 1,919 |
| Employee cost | 218 | 184 | 150 | 137 | 108 | 102 | 103 |
| EBITDA | 1,451 | 1,570 | 1,843 | 1,184 | 924 | 934 | 1,053 |
| EBITDA margin | +17.6% | +21.6% | +29.5% | +18.8% | +26.0% | +43.4% | +35.4% |
| Depreciation | 409 | 352 | 274 | 231 | 196 | 174 | 162 |
| Interest | 20.57 | 13.80 | 11.53 | 9.39 | 7.53 | 7.19 | 6.53 |
| Profit before tax | 1,141 | 1,371 | 1,733 | 1,056 | 806 | 834 | 984 |
| Tax | 294 | 329 | 444 | 265 | 209 | 214 | 190 |
| Net profit | 758 | 928 | 1,212 | 790 | 597 | 620 | 794 |
| Net profit margin | +9.2% | +12.8% | +19.4% | +12.5% | +16.8% | +28.8% | +26.7% |
| EPS (₹) | 85.73 | 105.41 | 130.50 | 79.98 | 60.43 | 62.72 | 80.33 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 98.78 | 98.78 | 98.78 | 98.78 | 98.78 | 98.78 | 98.78 |
| Reserves & surplus | 6,335 | 5,780 | 5,044 | 4,035 | 3,499 | 3,134 | 2,854 |
| Shareholders' funds (net worth) | 6,434 | 5,878 | 5,143 | 4,134 | 3,597 | 3,232 | 2,953 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 219 | 198 | 139 | 115 | 103 | 74.10 | 66.61 |
| Total debt | 219 | 198 | 139 | 115 | 103 | 74.10 | 66.61 |
| Total liabilities | 6,718 | 6,134 | 5,335 | 4,283 | 3,727 | 3,330 | 3,038 |
| Assets | |||||||
| Gross block | 7,544 | 6,625 | 4,971 | 4,183 | 3,546 | 2,911 | 2,599 |
| Net block | 5,373 | 4,844 | 3,543 | 3,026 | 2,614 | 2,169 | 2,049 |
| Capital work in progress | 1,259 | 1,062 | 774 | 709 | 616 | 560 | 487 |
| Investments | 1,169 | 1,178 | 1,636 | 1,310 | 1,088 | 1,025 | 1,121 |
| Inventories | 62.50 | 52.28 | 39.84 | 33.84 | 27.49 | 22.16 | 18.57 |
| Sundry debtors | 458 | 363 | 281 | 294 | 184 | 128 | 68.43 |
| Cash & bank balances | 114 | 333 | 398 | 228 | 465 | 512 | 229 |
| Loans & advances | 160 | 127 | 123 | 141 | 80.13 | 67.79 | 67.26 |
| Total current assets | 795 | 875 | 842 | 696 | 757 | 729 | 384 |
| Total current liabilities | 1,873 | 1,839 | 1,647 | 1,540 | 1,306 | 1,094 | 929 |
| Net working capital | (1,078) | (964) | (805) | (844) | (549) | (365) | (545) |
| Total assets | 6,718 | 6,134 | 5,335 | 4,283 | 3,727 | 3,330 | 3,038 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 152 | 129 | 118 | 82.48 | 28.20 | 15.38 | 26.53 |
| Net cash from operating activities | 1,147 | 1,420 | 1,563 | 969 | 904 | 806 | 985 |
| Net cash from investing activities | (874) | (1,056) | (1,267) | (649) | (539) | (444) | (755) |
| Net cash from financing activities | (368) | (341) | (312) | (285) | (310) | (349) | (242) |
| Net change in cash | (95.12) | 22.49 | (15.21) | 35.42 | 54.28 | 12.81 | (11.16) |
| Closing cash | 114 | 333 | 398 | 228 | 465 | 512 | 229 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +13.5% | +16.3% | -0.9% | +76.9% | +65.4% | -27.6% | - |
| EBITDA growth | -7.6% | -14.8% | +55.6% | +28.1% | -1.0% | -11.3% | - |
| PBT growth | -16.8% | -20.9% | +64.2% | +30.9% | -3.3% | -15.2% | +17.5% |
| Net income growth | -18.3% | -23.4% | +53.5% | +32.4% | -3.7% | -21.9% | - |
| Revenue CAGR (3Y) | +9.4% | +26.8% | +42.6% | +28.5% | +8.5% | -1.2% | +13.5% |
| EBITDA CAGR (3Y) | +7.0% | +19.3% | +25.4% | +4.0% | +1.4% | +6.2% | +17.8% |
| Profitability & leverage | |||||||
| Net income margin | +10.3% | +14.3% | +20.6% | +12.5% | +16.8% | +28.8% | +26.7% |
| Return on capital employed | +18.1% | +24.1% | +36.3% | +26.6% | +23.1% | +26.4% | +36.3% |
| Return on net worth | +13.8% | +18.9% | +27.8% | +20.4% | +17.5% | +20.0% | +29.7% |
| Debt / equity | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 |
| Long-term debt / equity | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 |
| Interest cover | 1.97 | 1.13 | 0.73 | 0.99 | 1.03 | 0.95 | 0.73 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.28 | 1.38 | 1.50 | 1.79 | 1.20 | 0.85 | 1.37 |
| Inventory turnover | 157.86 | 173.17 | 186.26 | 225.70 | 156.49 | 114.79 | 173.23 |
| Debtors turnover | 22.05 | 24.78 | 23.88 | 28.95 | 24.94 | 23.86 | 38.87 |
| EPS (₹) | 85.73 | 105.41 | 130.50 | 79.98 | 60.43 | 62.72 | 80.33 |
| Dividend per share (₹) | 30.00 | 30.00 | 30.00 | 16.00 | 25.00 | 23.00 | 35.00 |
| Book value per share (₹) | 651.37 | 595.11 | 520.64 | 418.53 | 364.17 | 327.24 | 298.92 |
To see the full year-wise statements and ratios of Mahanagar Gas Limited, buy the company report.
Board of directors of Mahanagar Gas Limited
Mahanagar Gas has 8 current directors and 66 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Malvika Sahni Sinha Also directs: Mahindra Logistics Limited, Lords Freight (India) Private Limited, Bajaj Finserv Asset Management Limited and 2 more | Director | 24 Aug 2021 | 5 Years 2 Months | Current |
| Deepak Gupta | Director | 01 Mar 2026 | 0 Years 7 Months | Current |
| Ajay Sinha | Whole-Time Director | 23 Aug 2025 | 1 Years 2 Months | Current |
| Pankaj Kuchhal | Director | 23 Aug 2025 | 1 Years 2 Months | Current |
| Anbalagan Ponnusamy | Nominee Director | 28 Jan 2025 | 1 Years 8 Months | Current |
| Harish Kumar Agarwal | Director | 24 Aug 2024 | 2 Years 2 Months | Current |
Showing 6 of 8 current directors. View all directors
Peer comparison
Mahanagar Gas Limited is compared with the 6 companies closest to it by revenue in the Oil and Gas industry (Distribution and Transmission), with the same principal business activity (manufacture of gas, distribution of gaseous fuels), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Petronet LNG Limited | ₹51,755 Cr (FY 2025) | -3.0% | New Delhi, Delhi, India | |||
| Gujarat Energy Limited | ₹17,393 Cr (FY 2025) | 6.0% | Gandhinagar, Gujarat, India | |||
| Indraprastha Gas Limited | ₹15,717 Cr (FY 2024) | -1.0% | New Delhi, Delhi, India | |||
| Gail Gas Limited | ₹12,280 Cr (FY 2025) | 12.0% | New Delhi, Delhi, India | |||
| Mahanagar Gas Limitedthis company | ₹8,245.7 Cr (FY 2026) | ₹752.41 Cr | 9.1% | 13.5% | 526 | Mumbai, Maharashtra, India |
| Adani Total Gas Limited | ₹5,442.48 Cr (FY 2025) | 12.0% | Ahmedabad, Gujarat, India | |||
| Torrent Gas Limited | ₹4,428.83 Cr (FY 2025) | 39.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Mahanagar Gas Limited, buy the company report.
Auditor
Mahanagar Gas Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2023 | 117366W/W-100018 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 32.50%, foreign institutional investors hold 23.20%, domestic institutional investors hold 32.50% and retail and other public shareholders hold 11.80%.
Sep 2026
QUARTER
32.50% Promoters
32.50% DII (Domestic Institutional)
23.20% FII (Foreign Institutional)
11.80% Retail & Others
Promoter holding - history
Now 32.50% · Sep 2026High 32.50% · Dec 2025Low 32.50% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 32.50% | 32.50% | 32.50% | 32.50% |
| Public | 67.50% | 67.50% | 67.50% | 67.50% |
Charges & borrowings
Open charges
₹82.2 Lakh
Satisfied charges
₹1,251.92 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 02 Mar 2021 | 100429952 | Others | ₹82.2 Lakh | Open | |
| 07 Feb 2024 | 100873749 | Others | ₹543 Cr | Satisfied | |
| 07 Oct 2022 | 100618658 | Others | ₹23 Cr | Satisfied | |
| 26 Aug 2022 | 100612662 | Yes Bank Limited | ₹6 Cr | Satisfied | |
| 07 Dec 2021 | 100516833 | Yes Bank Limited | ₹1.5 Lakh | Satisfied |
To see the full charge records of Mahanagar Gas Limited, buy the company report.
Total charge records: 13 View all charges
Deals & funding
Mahanagar Gas Limited has 24 deals on record (21 market trades, 1 secondary share transfer, 1 convertible or debt financing), with disclosed funding of ₹9.44 Cr; the latest was in April 2026.
Total deals
24
Market trades
21
Secondary share transfer
1
Convertible or debt financing
1
IPO
1
Disclosed funding
₹9.44 Cr
Deals on record (5 of 24)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2024 | Market trade | ₹58.84 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Oct 2024 | Market trade | ₹90.28 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Sep 2024 | Market trade | ₹112.11 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jul 2024 | Market trade | ₹101.04 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jul 2024 | Market trade | ₹84.17 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
To see the full deal history of Mahanagar Gas Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mahanagar Gas Limited has 736 court cases on record: 597 filed by Mahanagar Gas, 139 filed against it. 107 cases are pending and 629 are disposed.
Total cases
736
Filed by the company
597
Filed against the company
139
Pending
107
Disposed
629
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 633 | 72 | 82 |
| High courts | 97 | 61 | 23 |
| Supreme Court | 6 | 6 | 2 |
Cases on record (5 of 736)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Raigad, Maharashtra | Criminal miscellaneous application | Filed against the company by Kingmaker Petroleum Pvt Ltd Through Director Shri Sanjaykumar Sudam Torne and 2 others | Pending |
| High Court | Interim or miscellaneous application | Filed by the company against Star Industries Piping Systems Pvt Ltd and 1 other | Pending |
| Bombay High Court | Court case (S) | Filed by the company against Star Industries Piping System Pvt Ltd and 1 other | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed by the company against M/S Indian Compressors Ltd 6 and 63 others | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed against the company by an individual | Pending |
To see the full case history of Mahanagar Gas Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Mahanagar Gas Limited was last rated by Icra on 04 Mar 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 04 Mar 2022 |
To see the full credit ratings and regulatory alerts of Mahanagar Gas Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Mahanagar Gas Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Mahanagar Gas Limited has a workforce of 526 employees on its EPFO records as of Mar 29, 2024, across 1 active EPFO establishment.
Employee count
526
Active EPFO establishments
1
Employee growth
4.99%
GST
Mahanagar Gas has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCM4640G1ZN | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Mahanagar Gas Limited, buy the company report.
Recent activity
Mahanagar Gas Limited has 131 board changes on record since 2003: 71 appointments and 60 cessations. The latest: Praveer Kumar Srivastava was appointed as Managing Director on 30 Apr 2026.
Charges
A charge registered on 07 Feb 2024 via Charge ID 100873749 with Others was fully satisfied on 15 Oct 2026.
Charges
A charge registered on 07 Oct 2022 via Charge ID 100618658 with Others was fully satisfied on 15 Oct 2026.
Charges
A charge registered on 05 Jun 2021 via Charge ID 100452198 with Others was fully satisfied on 15 Oct 2026.
Charges
A charge registered on 26 Aug 2022 via Charge ID 100612662 with Yes Bank Limited was fully satisfied on 08 Sep 2026.
Charges
A charge registered on 07 Dec 2021 via Charge ID 100516833 with Yes Bank Limited was fully satisfied on 08 Sep 2026.
AGM
Mahanagar Gas Limited last Annual general meeting of members was held on 25 Aug 2026 as per latest MCA records.
Appointed
Praveer Kumar Srivastava was appointed as Managing Director.
Filing
Mahanagar Gas Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Appointed
Deepak Gupta was appointed as Director.
Ceased
Syed Shahzad Hussain ceased to be Director.
Appointed
Ajay Sinha was appointed as Whole-Time Director.
Appointed
Pankaj Kuchhal was appointed as Director.
150 earlier events are in the company report.
News
MGL: BofA on MGL Maintains Buy, Target Price ₹1,330; favourable risk-reward with policy tailwinds supporting growth and resilient margins; demand is not a constraint, with gas availability and cost remaining the key swing factors; volume growth guidance intact at 8–9% p.a., while spot dependence has fallen to ~2–3% or lower and a small quantity of winter gas has been hedged at fixed prices.
Mahanagar Gas: To Hold Analyst And Investor Meeting On September 21
Frequently asked questions
Mahanagar Gas is an active public limited company based in Mumbai, Maharashtra, India. The company works in oil and gas distribution and transmission, within the energy and power industry. It was incorporated on 08 May 1995 (31+ years old) and is registered under CIN L40200MH1995PLC088133. Listed on BSE: 539957 and NSE: MGL.
Mahanagar Gas reported revenue of ₹8,245.7 Cr for FY 2025-26 (up 13.5% YoY) based on consolidated financials.
Mahanagar Gas has 8 current directors:
- Praveer Kumar Srivastava - Managing Director
- Ajay Sinha - Whole-Time Director
- Malvika Sahni Sinha - Director
- Deepak Gupta - Director
- Pankaj Kuchhal - Director
- Anbalagan Ponnusamy - Nominee Director
- Harish Kumar Agarwal - Director
- Mahesh Kumar Gupta - Director
The latest financial statements of Mahanagar Gas on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 25 August 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Mahanagar Gas is 27AABCM4640G1ZN, registered in Maharashtra.
The CIN (Corporate Identification Number) of Mahanagar Gas is L40200MH1995PLC088133. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Mahanagar Gas is a listed company as per MCA records. Its shares are listed on both BSE (code: 539957) and NSE (symbol: MGL).
Mahanagar Gas has 736 court cases on record: 597 filed by the company and 139 filed against it. 107 are pending. Most are in the district courts.
Mahanagar Gas was incorporated on 08 May 1995, making it 31+ years old. It is registered with the Registrar of Companies, Mumbai.
Mahanagar Gas has 24 deals on record (21 market trades, 1 secondary share transfer, 1 convertible or debt financing), with disclosed funding of ₹9.44 Cr; the latest was in April 2026.
The peers of Mahanagar Gas by revenue are Petronet LNG Limited, Gujarat Energy Limited, Indraprastha Gas Limited, Gail Gas Limited, Adani Total Gas Limited and 1 more, all in the Oil and Gas industry (Distribution and Transmission), with the same principal business activity (manufacture of gas, distribution of gaseous fuels).