Mahanagar Gas Ltd is engaged in the business of City gas distribution (CGD), presently supplying natural gas in the city of Mumbai including adjoining areas and the Raigad District in the state of Maharashtra.[1]
Business Segments
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Adani Total Gas | 571.75 | 100.56 | 62925.77 | 0.04 | 163.49 | -11.91 | 1451.26 | 19.09 | 17.47 | 5465.56 | 20.48 | 625.70 | 163.49 | 13.95 | 9.19 | 0.45 |
| 2. | Petronet LNG | 294.35 | 12.04 | 44182.42 | 3.40 | 830.30 | -4.63 | 11009.13 | -15.47 | 25.39 | 47431.60 | 10.62 | 3668.78 | 830.30 | 2.09 | 14.92 | 0.12 |
| 3. | Gujarat Gas | 433.15 | 26.73 | 29834.66 | 1.34 | 279.81 | -9.37 | 3780.40 | -0.04 | 19.50 | 15906.19 | 11.30 | 1116.32 | 279.81 | 3.43 | 9.49 | 0.02 |
| 4. | Indraprastha Gas | 187.08 | 16.39 | 26173.36 | 2.27 | 384.95 | -15.08 | 4023.40 | 8.81 | 20.85 | 15643.80 | 11.55 | 1597.03 | 386.29 | 2.33 | 11.10 | 0.01 |
| 5. | Mahanagar Gas | 1061.60 | 10.59 | 10485.27 | 2.83 | 193.37 | -32.57 | 2049.33 | 14.73 | 22.89 | 7753.14 | 19.75 | 990.49 | 193.37 | 1.69 | 12.67 | 0.03 |
| 6. | Confidence Petro | 36.27 | 12.88 | 1210.04 | 0.28 | 20.41 | 14.60 | 983.01 | 31.81 | 9.33 | 3717.08 | 9.05 | 93.96 | 20.33 | 0.88 | 3.82 | 0.60 |
| 7. | IRM Energy | 281.30 | 28.18 | 1157.27 | 0.53 | 12.66 | 5.41 | 259.44 | 12.06 | 8.26 | 1040.55 | 8.86 | 41.07 | 12.66 | 1.19 | 3.37 | 0.08 |
| – | Median: 8 Co. | 287.83 | 21.56 | 18329.32 | 1.81 | 178.43 | -10.64 | 1750.3 | 10.44 | 18.48 | 6609.35 | 10.96 | 808.1 | 178.43 | 1.89 | 9.34 | 0.1 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,671 | 1,569 | 1,758 | 1,538 | 1,590 | 2,081 | 1,610 | 1,567 | 1,865 | 1,563 | 1,571 | 1,786 | 2,049 |
Expenses | 1,415 | 1,120 | 1,443 | 1,017 | 1,171 | 1,581 | 1,221 | 1,173 | 1,486 | 1,310 | 1,092 | 1,373 | 1,711 |
Operating Profit | 256 | 449 | 314 | 521 | 418 | 501 | 390 | 394 | 378 | 253 | 479 | 413 | 338 |
Other Income | 32 | 48 | 46 | 39 | 40 | 32 | 34 | 45 | 46 | 26 | 44 | 47 | 29 |
Profit before tax | 227 | 426 | 278 | 496 | 384 | 432 | 357 | 357 | 339 | 221 | 454 | 373 | 258 |
Tax % | 24% | 26% | 19% | 26% | 26% | 26% | 25% | 26% | 26% | 26% | 25% | 23% | 25% |
Net Profit | 172 | 317 | 225 | 368 | 285 | 320 | 269 | 265 | 252 | 164 | 338 | 287 | 193 |
EPS in Rs | 17.42 | 32.11 | 22.82 | 37.30 | 28.81 | 32.35 | 27.21 | 26.83 | 25.53 | 16.60 | 34.27 | 29.03 | 19.58 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,885 | 2,095 | 2,078 | 2,034 | 2,233 | 2,791 | 2,972 | 2,153 | 3,560 | 6,299 | 6,245 | 6,924 | 7,753 |
Expenses | 1,397 | 1,605 | 1,569 | 1,390 | 1,453 | 1,906 | 1,919 | 1,219 | 2,636 | 5,115 | 4,402 | 5,414 | 6,222 |
Operating Profit | 488 | 490 | 509 | 644 | 780 | 885 | 1,053 | 934 | 924 | 1,184 | 1,843 | 1,510 | 1,531 |
Other Income | 34 | 41 | 47 | 53 | 58 | 78 | 99 | 81 | 86 | 112 | 175 | 184 | 154 |
Interest | 0 | 1 | 2 | 1 | 0 | 0 | 7 | 7 | 8 | 9 | 12 | 13 | 17 |
Depreciation | 81 | 80 | 83 | 95 | 111 | 126 | 162 | 174 | 196 | 231 | 274 | 306 | 361 |
Profit before tax | 442 | 449 | 472 | 601 | 727 | 837 | 984 | 834 | 806 | 1,056 | 1,733 | 1,374 | 1,308 |
Net Profit | 297 | 301 | 311 | 393 | 478 | 546 | 794 | 620 | 597 | 790 | 1,289 | 1,045 | 990 |
EPS in Rs | 33.27 | 33.69 | 34.80 | 39.83 | 48.38 | 55.32 | 80.33 | 62.72 | 60.43 | 79.98 | 130.50 | 105.78 | 100.28 |
Dividend Payout % | 53% | 52% | 50% | 48% | 39% | 36% | 44% | 37% | 41% | 20% | 23% | 28% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 89 | 89 | 89 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 |
Reserves | 1,208 | 1,318 | 1,639 | 1,741 | 1,997 | 2,300 | 2,854 | 3,134 | 3,499 | 4,035 | 5,044 | 5,791 | 6,114 |
Borrowings | 8 | 16 | 5 | 3 | 1 | 0 | 67 | 74 | 103 | 115 | 139 | 164 | 216 |
Other Liabilities | 664 | 743 | 637 | 782 | 914 | 1,042 | 1,109 | 1,295 | 1,534 | 1,783 | 1,944 | 2,150 | 2,220 |
Total Liabilities | 1,969 | 2,166 | 2,370 | 2,624 | 3,010 | 3,441 | 4,128 | 4,601 | 5,234 | 6,032 | 7,226 | 8,204 | 8,649 |
Fixed Assets | 991 | 1,064 | 1,129 | 1,305 | 1,532 | 1,763 | 2,049 | 2,169 | 2,614 | 3,026 | 3,543 | 4,104 | 5,022 |
Gross Block | 1,518 | 1,671 | 1,211 | 1,482 | 1,819 | 2,174 | 2,599 | 2,911 | 3,546 | 4,183 | 4,971 | 5,832 | – |
Accumulated Depreciation | 526 | 607 | 82 | 177 | 287 | 411 | 550 | 742 | 933 | 1,158 | 1,428 | 1,728 | – |
CWIP | 345 | 380 | 429 | 412 | 357 | 370 | 487 | 560 | 616 | 709 | 774 | 974 | 1,163 |
Investments | 342 | 371 | 393 | 467 | 688 | 654 | 1,121 | 1,025 | 1,088 | 1,310 | 1,636 | 1,740 | 1,237 |
Other Assets | 290 | 350 | 419 | 441 | 434 | 654 | 471 | 847 | 916 | 988 | 1,273 | 1,385 | 1,228 |
Total Assets | 1,969 | 2,166 | 2,370 | 2,624 | 3,010 | 3,441 | 4,128 | 4,601 | 5,234 | 6,032 | 7,226 | 8,204 | 8,649 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 398 | 427 | 419 | 532 | 652 | 685 | 985 | 806 | 904 | 969 | 1,563 | 1,368 |
Cash from Investing Activity | -200 | -261 | -222 | -263 | -419 | -439 | -755 | -444 | -539 | -649 | -1,267 | -1,001 |
Cash from Financing Activity | -185 | -176 | -191 | -284 | -226 | -235 | -242 | -349 | -310 | -285 | -312 | -336 |
Net Cash Flow | 13 | -10 | 5 | -15 | 8 | 12 | -11 | 13 | 54 | 35 | -15 | 32 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 21 | 17 | 16 | 17 | 14 | 13 | 8 | 22 | 19 | 17 | 16 | 18 |
Inventory Days | 5 | 5 | 5 | 8 | 8 | 5 | 5 | 11 | 5 | 3 | 4 | 4 |
Days Payable | 34 | 32 | 33 | 43 | 39 | 40 | 35 | 76 | 48 | 26 | 34 | 34 |
Cash Conversion Cycle | -8 | -10 | -12 | -18 | -16 | -22 | -21 | -44 | -24 | -7 | -13 | -12 |
Working Capital Days | -77 | -80 | -59 | -79 | -86 | -78 | -97 | -152 | -106 | -63 | -72 | -70 |
ROCE % | 35% | 33% | 30% | 34% | 37% | 37% | 37% | 27% | 23% | 27% | 37% | 23% |
Direct from BSE filings, auto-summarised
External media mentions & references
Editorial & research coverage
Nov 2025
Jul 2025
Jun 2025
Feb 2025
Oct 2024
Sep 2024
Aug 2024
Jun 2024
Jan 2024
Nov 2023
Sep 2023
Aug 2023
May 2023
Feb 2023
Nov 2022
Aug 2022
May 2022
Mar 2022
Feb 2022
Nov 2021
Aug 2021
Jun 2021
Mar 2021
Dec 2020
Dec 2020
Aug 2020
Aug 2020
Jul 2020
Mar 2020
Dec 2019
Oct 2019
Sep 2019
Aug 2019
Jun 2019
May 2019
Feb 2019
Feb 2019
Nov 2018
Nov 2018
Aug 2018
Aug 2018
May 2018
Feb 2018
Nov 2017
Nov 2017
Aug 2017
Aug 2017
Jun 2017
Apr 2017
Feb 2017
Dec 2016
Sep 2016
Stock Analysis
Mahanagar Gas Limited (MGL) is engaged in the city gas distribution (CGD) business, supplying natural gas in Mumbai and adjoining areas, and the Raigad District in Maharashtra.
Currently no data available for Key Growth Triggers.
Currently no data available for Order Book.
Currently no data available for Key Red Flags.
Currently no data available for Key Dates To Watch.
Corporate Announcements
