Mahanagar Gas
Mahanagar Gas Limited valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Mahanagar Gas Limited, framed against the sector median so the premium or discount is obvious at a glance.
Mahanagar Gas Limited trades at a P/E of 14.38× and P/B of 1.88×, against the Oil Gas & Consumable Fuels sector median P/E of 8.84×.
Valuation
Profitability
Growth
Financial Health
Mahanagar Gas Limited chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for Mahanagar Gas Limited — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
Mahanagar Gas Limited financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Mahanagar Gas Limited, switchable between annual and quarterly views, consolidated or standalone.
Mahanagar Gas Limited reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹1,18,13,82,22,488 Cr and reported EPS of ₹85.16.
| Period | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue from Operations | 6,914 | 7,979 | 9,065 |
| Other Income | 175 | 167 | 120 |
| Total Income | 7,089 | 8,146 | 9,185 |
| Cost of Goods Sold (COGS) | 3,646 | 4,680 | 5,636 |
| Gross Profit | 3,269 | 3,299 | 3,429 |
| +Operating Expenses | 1,425 | 1,729 | 1,979 |
| EBITDA | 1,844 | 1,570 | 1,451 |
| +Non-Operating Expenses | 297 | 365 | 431 |
| Profit Before Tax (PBT) | 1,722 | 1,370 | 1,140 |
| +Tax Expense | 445 | 329 | 294 |
| Total Profit for Period | 1,276 | 1,040 | 841 |
| Less: Non-controlling Interests | — | -0 | -1 |
| Net Profit (Owner's PAT) | 1,276 | 1,041 | 841 |
| Earnings Per Share (EPS) | 129.22 | 105.34 | 85.16 |
| Diluted Shares Outstanding (Nos.) | 10 | 10 | 10 |
| +Additional Disclosures | 9,009 | 11,452 | 13,681 |
| Sales Growth % | — | 15.40 | 13.61 |
| YoY Sales Growth % | — | 15.40 | 13.61 |
| Material Cost % | 53 | 59 | 62 |
| Employee Cost % | 2 | 2 | 2 |
| Other Cost % | 19 | 20 | 20 |
| OPM % | 27 | 20 | 16 |
| Tax % | 26 | 24 | 26 |
| Profit Growth % | — | -18.47 | -19.16 |
| Gross Margin % | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 |
| +Additional Fields | 1,560 | 1,218 | 1,041 |
Mahanagar Gas segment analysis: revenue and profit mix.
Disclosed business segments at Mahanagar Gas with their share of revenue and profit, switchable between consolidated and standalone reporting.
Mahanagar Gas discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
The Bull, Bear, and Flip case for Mahanagar Gas Limited.
Our AI distills the core fundamental drivers supporting Mahanagar Gas Limited, the risks that threaten it, and the exact valuation or growth triggers that should make you re-evaluate.
Mahanagar Gas Limited's investment case rests on 9 positive markers and 8 flagged concerns drawn from the latest reported filings.
What you're getting.
MGL exhibits a robust Return on Equity (ROE) of 17.70% and Return on Capital Employed (ROCE) of 22.70%, signifying efficient capital utilization and strong profitability. This indicates effective asset management and high returns on investments for shareholders.
The company boasts a very low debt-to-equity ratio of 0.03, suggesting a financially stable position with minimal reliance on debt financing. This strong balance sheet enhances MGL's resilience against economic downturns and financial risks.
MGL's P/E ratio of 11.80 is notably lower than the sector P/E of 12.73 and peers like ATGL (113.38), suggesting potential undervaluation. This favorable valuation could present an attractive entry point for value-oriented investors seeking growth.
MGL demonstrates strong operational performance with a 25.00% increase in quarterly sales and a 10.10% rise in quarterly profit. This consistent growth highlights resilience and underlying strength in its core business operations.
The company receives a "Strong Buy" long-term recommendation with an excellent score of 91%. This indicates superior financial health, profitability, and growth prospects, making it suitable for long-term investment.
What can break it.
Promoter holding in MGL stands at 32.50%, which is relatively low compared to some industry peers. This lower promoter stake might raise concerns about potential corporate governance issues or future share dilutions for investors.
MGL's stock price has experienced significant volatility, with a 52-week high of ₹1989 and a low of ₹1075. This wide price fluctuation indicates market uncertainty and potential investment risk for short-term investors.
Foreign Institutional Investors (FIIs) have shown a declining trend in their holding, dropping from 34.20% in Sep 2024 to 25.48% in Jun 2025. This consistent selling pressure could signal reduced foreign investor confidence.
While quarterly sales grew 25% to ₹2083 crore, the absolute figure is modest compared to larger peers. Sustained, significant sales growth is crucial for MGL to expand its market share and achieve long-term competitive positioning.
MGL operates in a competitive landscape with major players like Adani Total Gas, Gujarat Gas, and Indraprastha Gas. Aggressive expansion by rivals could impact MGL's market share and profitability in key regions.
What would change my mind.
Trim if P/E re-rates above 19 (~2.1× the sector multiple of 8.8). The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 1.00. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 9%. The operating engine is no longer compounding capital efficiently.
Mahanagar Gas Limited peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Mahanagar Gas Limited is highlighted for quick read-across.
Quick Compare
Mahanagar Gas Limited technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Mahanagar Gas Limited — derived from the live tape, not yesterday's close.
Mahanagar Gas Limited last traded at ₹1,196 with an intraday range of ₹1,180.9–₹1,215 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹1196.00| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 1281.90 | +85.90 | +7.18% |
| R3 | 1247.80 | +51.80 | +4.33% |
| R2 | 1231.40 | +35.40 | +2.96% |
| R1 | 1213.70 | +17.70 | +1.48% |
| PIVOT | 1197.30 | 1.30 | 0.11% |
| CURRENT | 1196.00 | — | — |
| S1 | 1111.40 | -84.60 | -7.07% |
| S2 | 1145.50 | -50.50 | -4.22% |
| S3 | 1163.20 | -32.80 | -2.74% |
| S4 | 1179.60 | -16.40 | -1.37% |
MGL is trading Below CPR, indicating Bearishness
CPR is Narrower, suggesting likely for trending moves
Day's range: 1180.9 ~ 1215
Trading Below opening range, showing Bearishness
Mahanagar Gas Limited delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Mahanagar Gas Limited over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Mahanagar Gas Limited stood at 36.6% of traded volume, against a 20-day average of 48.3%.
Mahanagar Gas announcements: results, concalls, ratings, M&A.
Filings Mahanagar Gas sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Mahanagar Gas files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 107 documents below.
Analysts/Institutional Investor Meet/Con. Call Updates
Mahanagar Gas Limited has informed the Exchange about Schedule of meet
Retirement
Mahanagar Gas Limited has informed the Exchange about Retirement
Shareholders meeting
Mahanagar Gas Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange…
Analysts/Institutional Investor Meet/Con. Call Updates
Mahanagar Gas Limited has informed the Exchange about Presentation
Copy of Newspaper Publication
Mahanagar Gas Limited has informed the Exchange about Copy of Newspaper Publication
Investor decks & rating reports.
Analysts/Institutional Investor Meet/Con. Call Updates
Analysts/Institutional Investor Meet/Con. Call Updates
Investor Presentation
Investor Presentation
Mahanagar Gas dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Mahanagar Gas has declared, sequenced by announce and record date.
Mahanagar Gas corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Mahanagar Gas Limited: business, sector, key facts.
What Mahanagar Gas Limited does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Mahanagar Gas Limited operates in the LPG/CNG/PNG/LNG Supplier industry under the Oil Gas & Consumable Fuels sector, listed as NSE: MGL, BSE: 539957.
Mahanagar Gas Limited (MGL) is a prominent natural gas distribution company operating within India. Its core business revolves around supplying natural gas to a diverse range of consumers across various sectors. This includes residential customers, for whom MGL provides piped natural gas (PNG) for cooking and water heating; the company also extends its PNG services to institutions like nursing homes, flight kitchens, and religious sites.
Beyond the residential sector, MGL caters to a substantial commercial clientele. This includes hospitals, hotels, restaurants, and charitable trusts, all of whom rely on MGL's PNG supply for their operational needs. Furthermore, MGL extends its services to a wide array of industries, providing PNG to sectors as diverse as metals, pharmaceuticals, printing and dyeing, food and beverages, oil mills, fast-moving consumer goods (FMCG) manufacturers, power generation facilities, and air-conditioning systems.
A significant aspect of MGL's business is its provision of compressed natural gas (CNG) to the transportation sector. The company operates an extensive network to facilitate this, encompassing 348 CNG filling stations equipped with a total of 2,152 dispensing points. To support its CNG operations and broader gas distribution network, MGL maintains an impressive infrastructure including 608 kilometers of steel pipeline and 6446 kilometers of polyethylene pipeline.
MGL's offerings extend beyond PNG and CNG. The company also supplies liquefied natural gas (LNG) to heavy motor vehicles, demonstrating its commitment to serving diverse transportation needs. In addition to its core gas distribution activities, MGL is engaged in the sale of pipes and fittings, crucial components for the construction and maintenance of its extensive pipeline infrastructure. This diversification strategy strengthens its position within the market and enhances its overall operational efficiency.
Established in 1995 and headquartered in Mumbai, MGL's substantial infrastructure and broad range of services contribute to its leading role in India's natural gas distribution market. The company’s diversified customer base, spanning residential, commercial, and industrial sectors, ensures a relatively stable and robust revenue stream. The ongoing expansion of its network and diversification of its product and service offerings point towards continued growth and success for MGL.
Questions investors ask about Mahanagar Gas Limited (MGL).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Mahanagar Gas Limited (MGL)?
The current share price of Mahanagar Gas Limited (MGL) is ₹1,196. Today, the stock has declined by ₹24.00 (1.97%), trading in a range of ₹1,180.9 to ₹1,215. The stock opened at ₹1,215 with a trading volume of 1,75,850 shares.
02Is Mahanagar Gas Limited stock a good investment for long-term?
Mahanagar Gas Limited can be considered for long-term investment based on several factors. The company has a market capitalization of ₹1,18,13,82,22,488 crores, P/E ratio of 14.38, ROE of 13.63%, and ROCE of 22.70%. The dividend yield stands at 2.51%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Mahanagar Gas Limited stock?
The 52-week high price of Mahanagar Gas Limited (MGL) is ₹1,586.9, while the 52-week low is ₹900. Currently trading at ₹1,196, the stock is 43.1% away from its 52-week low and 24.6% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Mahanagar Gas Limited stock at the current price?
Whether to buy Mahanagar Gas Limited stock at ₹1,196 depends on multiple factors. The stock is currently trading with a P/E ratio of 14.38 and P/B ratio of 1.88. Today's performance shows a loss of 1.97%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Mahanagar Gas Limited and when is the next dividend?
Mahanagar Gas Limited offers a dividend yield of 2.51%, which means for every ₹100 invested at the current price of ₹1,196, you can expect to receive approximately ₹2.51 annually as dividends. The face value of the stock is ₹10.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Mahanagar Gas Limited?
Mahanagar Gas Limited's key financial metrics include: P/E Ratio: 14.38, P/B Ratio: 1.88, ROE: 13.63%, ROCE: 22.70%, Dividend Yield: 2.51%, EPS: ₹85.16, Book Value: ₹650.7, and Debt-to-Equity: 0.03. The company's market cap stands at ₹1,18,13,82,22,488 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Mahanagar Gas Limited stock performing today in the market?
Mahanagar Gas Limited stock opened at ₹1,215 and is currently trading at ₹1,196, showing a decline of ₹24.00 (1.97%). The intraday high is ₹1,215 and low is ₹1,180.9. The trading volume stands at 1,75,850 shares, indicating moderate market participation today.
08What is the P/E ratio of Mahanagar Gas Limited and what does it indicate?
Mahanagar Gas Limited has a Price-to-Earnings (P/E) ratio of 14.38, which means investors are willing to pay ₹14.38 for every ₹1 of earnings. With an EPS of ₹85.16, this P/E ratio suggests the stock may be undervalued or facing growth challenges. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Mahanagar Gas Limited (MGL) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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