1,122.80
-0.60%
Close of 9 Nov 2026, in INR
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About Mahanagar Gas
Its shares trade on NSE under the ticker MGL.NS. It has been listed since 1 July 2016. In the fiscal year to 31 March 2026, it reported revenue of ₹82.46bn and net income of ₹8.41bn. At that date it held total assets of ₹89.81bn and shareholders' equity of ₹64.28bn.
Mahanagar Gas Ltd. engages in the sale and distribution of natural gas. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2016-07-01. The firm is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane and Raigad districts of Maharashtra. The company offers PNG for domestic, commercial and industrial purpose. Its domestic PNG is used for various purposes like cooking and water heating. The company is also used by hospitals, nursing homes, hotels, flight kitchens, restaurants, places of worship and others. The company offers PNG for various industries, including metal, pharmaceuticals, food and beverages, printing and dyeing, oil mills, power generation and air conditioning. The company 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. The company also installs gas geysers.
Figures and description from our data supplier, not checked against the company's own report.
Company facts
- Sector
- Utilities
- Industry
- Gas Utilities
- Listed since
- 1 Jul 2016
- Employees
- 491
- Website
- mahanagargas.com ↗
Leadership
Pay as last reported
- Shri. Sandeep GuptaNon-Executive Non-Independent Chairman of the Board
- Mr. Rajesh PatelChief Financial Officer, Vice President - Finance and R&T
- Mr. Atul PrabhuCompany Secretary and Compliance Officer
- Mr. Ashu ShinghalManaging Director, Executive Director, since 2018₹13.5m
- Mr. Ajay SinhaDeputy Managing Director, Additional Director, since 2025
- Dr. Ponnusamy AnbalaganNon-Executive Non-Independent Nominee Director
- Mr. Harish AgarwalNon-Executive Independent Director₹823,000
- Mr. Mahesh GuptaNon-Executive Independent Director₹763,000
- Shri. Pankaj KuchhalAdditional Non-Executive Independent Director
- Ms. Malvika SinhaNon-Executive Independent Director₹1.5m
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 61
- Environment
- 63
- Social
- 73
- Governance
- 49
- Direct emissions (scope 1)
- 283,681 t
- Energy emissions (scope 2)
- 113,855 t
- Value chain emissions (scope 3)
- 3,427,432 t
- Women in the workforce
- 10.88083%
- Carbon reduction policy
- Yes
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Mahanagar Gas Ltd has a strong market presence in the natural gas distribution sector, holding a monopoly in Mumbai and surrounding areas.
- The company benefits from a well-established infrastructure, including an extensive pipeline network and distribution centers, enabling efficient supply and distribution of natural gas.
- Mahanagar Gas Ltd has a diverse customer base, including residential, commercial, and industrial sectors, providing stable revenue streams.
Weaknesses
- The company is heavily dependent on government regulations and policies, which can pose a risk to its operations and profitability.
- Mahanagar Gas Ltd faces the challenge of managing and addressing customer complaints and infrastructure issues within its vast service area.
- The company has limited diversification in terms of energy sources, primarily relying on natural gas, which may make it vulnerable to fluctuations and price volatility in the natural gas market.
Opportunities
- There is a growing demand for cleaner and more environmentally friendly energy sources, which presents an opportunity for Mahanagar Gas Ltd to expand its natural gas distribution business.
- The government's push for increased usage of natural gas, especially in the transportation sector, opens doors for the company to explore new markets and partnerships.
- Mahanagar Gas Ltd can leverage its existing infrastructure and expertise to expand its operations to other cities within India, tapping into new customer bases.
Threats
- Competition from other energy sources, such as renewable energy, poses a threat to Mahanagar Gas Ltd's market dominance and growth potential.
- Changes in government policies, regulations, or pricing of natural gas can significantly impact the company's profitability and operational efficiency.
- The company may encounter challenges in securing long-term supply agreements and managing supply chain disruptions, impacting its ability to meet customer demands.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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