Mahanagar Gas Ltd (MGL) — shareholding pattern, promoter holding, financials and share price
About Mahanagar Gas Ltd (MGL)
Mahanagar Gas Ltd operates in the LPG/CNG/PNG/LNG Supplier industry, within the Oil, Gas & Consumable Fuels sector. It trades on the NSE as MGL and on the BSE under scrip code 539957. Its ISIN is INE002S01010.
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]
Mahanagar Gas Limited is one of India’s largest city gas distribution companies, supplying CNG and PNG across Mumbai, Thane and Raigad with an extensive pipeline network, 491 CNG stations and around 3.07 million PNG household connections which constitute the company’s core regulated distribution business and customer base.
MGL delivered steady volume growth with Q3 FY26 average sales at 4.62 MMSCMD (up 7.19% YoY) and nine‑month average at 4.556 MMSCMD, driven by CNG, domestic PNG and I&C additions, while company targets double‑digit volume growth on a medium‑term basis and reported strong customer additions during the quarter.
Listed peers in LPG/CNG/PNG/LNG Supplier: Petronet LNG Ltd, Gujarat Energy Ltd, Indraprastha Gas Ltd, Confidence Petroleum India Ltd, IRM Energy Ltd, Positron Energy Ltd.
Valuation & Returns
10 Jul 2026At ₹1,125 a share on 10 Jul 2026, Mahanagar Gas Ltd (MGL) was valued at a price-to-earnings ratio of 13.23x against an industry P/E of 19.62x and a price-to-book of 1.89x on a book value of ₹595.29 per share as of Mar 2025. Solomo computes return on equity of 14.28% and return on capital employed of 19% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 13.23x
- Industry P/E
- 19.62x
- P/B
- 1.89x
- EPS (TTM)
- ₹85.02
- Book value / share
- ₹595.29
- ROE
- 14.28%
- ROCE
- 19%
- ROA
- 10.15%
- Debt / equity
- 0.03x
- Dividend yield
- 2.67%
- EBITDA margin
- 17.27%
- 52-week range
- ₹900 – ₹1,562
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Mahanagar Gas Ltd (MGL) reported revenue of ₹8,246 crore, net profit of ₹841 crore and earnings per share of ₹85.15. That compares with revenue of ₹7,264 crore and net profit of ₹1,040 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹2,052 crore and net profit ₹130 crore (consolidated).
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Revenue (₹ cr) | 6,299 | 6,290 | 7,264 | 8,246 |
| Net profit (₹ cr) | 790 | 1,285 | 1,040 | 841 |
| EPS (₹) | 79.98 | 130.06 | 105.34 | 85.15 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 14.27% | 18.38% | 25.01% | 15.48% |
| Profit growth | 14.42% | 5.66% | 20.52% | -19.01% |
| Stock price CAGR | 8% | -1% | 1% | -25% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 32.5% of Mahanagar Gas Ltd (MGL) (unchanged from the previous quarter), foreign institutional investors (FII) hold 23.21% and domestic institutional investors (DII) hold 22.53%. Market capitalisation was ₹11,113 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Jun 2016.
Largest disclosed public shareholders in Jun 2026: Governor of Maharashtra 10%, Life Insurance Corporation of India 6.75%, UTI Value Fund 1.85%, HDFC Mutual Fund - HDFC Multi Cap Fund 1.74%, Parag Parikh Flexi Cap Fund 1.68%, Cape Ann Global Developing Markets Fund 1.53%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 32.5% | - | 23.21% | 22.53% | 67.5% |
| Mar 2026 | 32.5% | - | 24.14% | 21.01% | 67.5% |
| Dec 2025 | 32.5% | - | 24.89% | 20.83% | 67.5% |
| Sep 2025 | 32.5% | - | 23.6% | 22.89% | 67.5% |
| Jun 2025 | 32.5% | - | 25.48% | 22.52% | 67.5% |
| Mar 2025 | 32.5% | - | 23.76% | 23.82% | 67.5% |
| Dec 2024 | 32.5% | - | 25.75% | 21.1% | 67.5% |
| Sep 2024 | 32.5% | - | 34.2% | 15.47% | 67.5% |