Mahanagar Gas Ltd
1,029.45
INR
-18.70
(-1.78%)
ISIN
INE002S01010
Return %
Stock
S&P 500
1Y
-20.23
14.20
3Y
-0.06
81.12
5Y
2.95
68.34
Capital Structure
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in mil. unless spec.Quarterly Revenue
INR
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Praveer Kumar Srivastava
- Full Time Employees
- 3,070
- Sector
- Utilities
- Industry
- Gas distributors
- Address
- MGL House Mumbai MA India 400051
- IPO Date
- Jul 1, 2016
- Website
- mahanagargas.com
- Similar Companies
- Business
- Mahanagar Gas Limited (MGL) is an Indian city gas distribution company that supplies compressed natural gas (CNG) to vehicles including BEST, TMT, MSRTC, NMMT, and PMPML buses as well as light commercial vehicles, tempos, trucks, and private buses; piped natural gas (PNG) to domestic households for cooking and water heating, commercial customers such as hotels, restaurants, hospitals, and places of worship, and industrial users in sectors like metals, pharmaceuticals, food and beverages, printing, dyeing, oil mills, power generation, and air conditioning; and maintains an extensive infrastructure network exceeding 6,500 kilometers of carbon steel and polyethylene pipelines across Mumbai, Thane, and Raigad districts in Maharashtra. Incorporated on May 8, 1995, as a joint venture between GAIL (India) Limited, the Government of Maharashtra, and formerly British Gas, the company is headquartered in Mumbai and operates as India's leading natural gas distributor in these regions, serving over 1.6 million domestic connections, more than 400,000 CNG vehicles, and approximately 4,500 commercial and industrial customers with a sales volume averaging 4.3 million standard cubic meters per day. Recent developments include the acquisition and merger of Unison Enviro Private Limited in August 2025 to expand its city gas distribution footprint into three additional geographical areas; investment of Rs 96 crore as lead investor in Bengaluru EV maker 3ev's Rs 120 crore funding round in November 2025 to enter electric mobility; establishment of Mahanagar LNG Private Limited for energy portfolio diversification; collaboration with Brihanmumbai Municipal Corporation on a major biogas plant from municipal solid waste; development of a 6.5 MW captive solar power plant for CNG stations; a strategic shift toward volume growth highlighted by plans for a new CNG station with 55-56 dispensing arms by March-April 2026; and a memorandum of understanding with Oil India Limited for broader collaboration. Subsidiaries include Unison Enviro Private Limited, and the company sources natural gas from diversified suppliers under administered price mechanisms for domestic use and spot markets or long-term contracts for industrial and commercial needs, positioning it for growth in renewables, hydrogen, and EV value chains alongside core operations.