Mahanagar Gas Limited (MGL) is a prominent player in the Indian natural gas distribution sector, having been incorporated on May 8, 1995. It operates as a joint venture between GAIL (India) Limited, a Maharatna company under the Indian government, and the Government of Maharashtra. This partnership underpins MGL’s strong foothold in the energy sector.
The company is primarily engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG). MGL serves the Mumbai Metropolitan Region, which includes the key districts of Mumbai, Thane, and Raigad in Maharashtra. Its operations cater to a broad spectrum of customers, encompassing domestic households, commercial enterprises, industrial facilities, and the automotive sector.
MGL’s services are vital for various applications, offering a cleaner and more efficient alternative to traditional fuels. Its strategic focus on expanding natural gas infrastructure and services aligns with India’s broader energy and environmental goals.
Publicly listed, MGL trades on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) under the ticker symbol MGL, reflecting its established position and investor confidence in the market.
Recent news about Mahanagar Gas Ltd
Mahanagar Gas Ltd has recently made several significant moves. The company is scheduled to trade ex-dividend on August 14, 2024, meaning that new investors buying the stock from this date will not be eligible for the dividend. Mahanagar Gas is also focusing on increasing its CNG and LNG sales volumes, particularly in BEST buses and trucks, with CNG sales now accounting for over 70% of its total volume. Additionally, MGL has announced a strategic acquisition of a 31% stake in 3EV Industries Pvt. Ltd for ₹96 crore, which will be completed through the issuance of equity shares. This acquisition is set to strengthen MGL’s industry presence and capabilities.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 32.50% | 32.50% | 32.50% | 32.50% | 32.50% |
| FIIs + | 32.38% | 30.51% | 30.85% | 30.54% | 31.49% |
| DIIs + | 15.15% | 16.10% | 17.23% | 17.40% | 16.67% |
| Government + | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% |
| Public + | 9.96% | 10.89% | 9.43% | 9.55% | 9.32% |
| No. of Shareholders | 1,54,383 | 1,53,582 | 1,41,617 | 1,49,718 | 1,47,540 |
From June 2023 to June 2024, the shareholding patterns of the company exhibited some notable trends. The promoters maintained a steady stake of 32.50% throughout this period. Foreign Institutional Investors (FIIs) saw a slight decline from 32.38% in June 2023 to 31.49% in June 2024, reflecting a marginal decrease in their holdings. Domestic Institutional Investors (DIIs) increased their share from 15.15% in June 2023 to 16.67% in June 2024, indicating a growing interest from domestic institutions. Government holdings remained constant at 10% throughout the year. Public shareholding decreased slightly from 9.96% in June 2023 to 9.32% in June 2024. The total number of shareholders decreased over the period, from 1,54,383 in June 2023 to 1,47,540 in June 2024.
Below are the trading platforms that you can use to purchase Mahanagar Gas Ltd shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| August 2024 | 1,748.05 | 1,520.05 |
| September 2024 | 1,817.98 | 1,580.85 |
| October 2024 | 1,782.33 | 1,549.85 |
| November 2024 | 1,853.62 | 1,611.85 |
| December 2024 | 1,872.16 | 1,627.96 |
In August 2024, Mahanagar Gas Ltd is projected to reach a maximum price of ₹1,748.05 and a minimum price of ₹1,520.05. In September 2024, the company’s shares are expected to see a maximum of ₹1,817.98 and a minimum of ₹1,580.85. October 2024 may bring a slight dip, with a maximum of ₹1,782.33 and a minimum of ₹1,549.85. Moving into November 2024, the share prices are likely to rise again, reaching a maximum of ₹1,853.62 and a minimum of ₹1,611.85. Finally, as we step into December 2024, Mahanagar Gas Ltd could see a peak at ₹1,872.16, with a minimum of ₹1,627.96.
| When | Maximum Price | Minimum Price |
| January 2025 | 1,890.88 | 1,454.52 |
| February 2025 | 1,909.98 | 1,469.22 |
| March 2025 | 1,950.09 | 1,500.07 |
| April 2025 | 1,930.78 | 1,485.22 |
| May 2025 | 1,874.55 | 1,441.96 |
| June 2025 | 1,958.90 | 1,506.85 |
| July 2025 | 1,920.49 | 1,477.30 |
| August 2025 | 1,979.89 | 1,522.99 |
| September 2025 | 2,003.65 | 1,541.27 |
| October 2025 | 2,055.74 | 1,581.34 |
| November 2025 | 2,107.13 | 1,620.87 |
| December 2025 | 2,201.96 | 1,693.81 |
Looking ahead to 2025, the trend continues with prices expected to range from ₹1,890.88 to ₹1,454.52 in January. By December 2025, Mahanagar Gas Ltd’s shares might peak at ₹2,201.96, with a minimum of ₹1,693.81.
| When | Maximum Price | Minimum Price |
| January 2026 | 2,268.01 | 1,744.63 |
| February 2026 | 2,211.31 | 1,701.01 |
| March 2026 | 2,255.54 | 1,735.03 |
| April 2026 | 2,301.57 | 1,770.44 |
| May 2026 | 2,278.78 | 1,752.91 |
| June 2026 | 2,335.75 | 1,796.73 |
| July 2026 | 2,289.95 | 1,761.50 |
| August 2026 | 2,360.78 | 1,815.98 |
| September 2026 | 2,407.99 | 1,852.30 |
| October 2026 | 2,470.60 | 1,900.46 |
| November 2026 | 2,532.37 | 1,947.97 |
| December 2026 | 2,595.67 | 1,996.67 |
| When | Maximum Price | Minimum Price |
| January 2027 | 2,621.63 | 2,016.64 |
| February 2027 | 2,688.85 | 2,068.35 |
| March 2027 | 2,793.72 | 2,149.01 |
| April 2027 | 2,738.94 | 2,106.88 |
| May 2027 | 2,659.16 | 2,045.51 |
| June 2027 | 2,778.83 | 2,137.56 |
| July 2027 | 2,724.34 | 2,095.65 |
| August 2027 | 2,808.60 | 2,160.46 |
| September 2027 | 2,906.90 | 2,236.08 |
| October 2027 | 2,982.48 | 2,294.21 |
| November 2027 | 3,057.04 | 2,351.57 |
| December 2027 | 3,133.47 | 2,410.36 |
| When | Maximum Price | Minimum Price |
| January 2028 | 3,196.14 | 2,458.57 |
| February 2028 | 3,278.09 | 2,521.61 |
| March 2028 | 3,405.93 | 2,619.95 |
| April 2028 | 3,339.15 | 2,568.58 |
| May 2028 | 3,241.89 | 2,493.76 |
| June 2028 | 3,387.78 | 2,605.98 |
| July 2028 | 3,321.35 | 2,554.89 |
| August 2028 | 3,424.07 | 2,633.90 |
| September 2028 | 3,543.92 | 2,726.09 |
| October 2028 | 3,636.06 | 2,796.97 |
| November 2028 | 3,726.96 | 2,866.89 |
| December 2028 | 3,820.13 | 2,938.56 |
| When | Maximum Price | Minimum Price |
| January 2029 | 3,896.54 | 2,997.34 |
| February 2029 | 3,996.45 | 3,074.19 |
| March 2029 | 4,152.31 | 3,194.08 |
| April 2029 | 4,070.89 | 3,131.45 |
| May 2029 | 3,952.32 | 3,040.25 |
| June 2029 | 4,130.18 | 3,177.06 |
| July 2029 | 4,049.19 | 3,114.76 |
| August 2029 | 4,174.42 | 3,211.10 |
| September 2029 | 4,320.53 | 3,323.48 |
| October 2029 | 4,432.86 | 3,409.89 |
| November 2029 | 4,543.68 | 3,495.14 |
| December 2029 | 4,657.28 | 3,582.52 |
| When | Maximum Price | Minimum Price |
| January 2030 | 4,750.42 | 3,654.17 |
| February 2030 | 4,872.23 | 3,747.87 |
| March 2030 | 5,062.24 | 3,894.03 |
| April 2030 | 4,962.99 | 3,817.68 |
| May 2030 | 4,818.43 | 3,706.49 |
| June 2030 | 5,035.26 | 3,873.28 |
| July 2030 | 4,936.53 | 3,797.33 |
| August 2030 | 5,089.21 | 3,914.77 |
| September 2030 | 5,267.33 | 4,051.79 |
| October 2030 | 5,404.28 | 4,157.14 |
| November 2030 | 5,539.39 | 4,261.07 |
| December 2030 | 5,677.87 | 4,367.59 |
As we step into January 2030, Mahanagar Gas Ltd’s maximum price could reach ₹4,750.42, with a minimum of ₹3,654.17. By December 2030, the stock may rise to a high of ₹5,677.87 and a low of ₹4,367.59, reflecting a steady upward trend throughout the year.
Financial Condition of Mahanagar Gas Ltd: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 2,972 | 2,153 | 3,560 | 6,299 | 6,245 | 6,296 |
| Expenses + | 1,919 | 1,219 | 2,636 | 5,115 | 4,402 | 4,557 |
| Operating Profit | 1,053 | 934 | 924 | 1,184 | 1,843 | 1,740 |
| OPM % | 35% | 43% | 26% | 19% | 30% | 28% |
| Other Income + | 99 | 81 | 86 | 112 | 175 | 177 |
| Interest | 7 | 7 | 8 | 9 | 12 | 12 |
| Depreciation | 162 | 174 | 196 | 231 | 274 | 283 |
| Profit before tax | 984 | 834 | 806 | 1,056 | 1,733 | 1,621 |
| Tax % | 19% | 26% | 26% | 25% | 26% | |
| Net Profit + | 794 | 620 | 597 | 790 | 1,289 | 1,205 |
| EPS in Rs | 80.33 | 62.72 | 60.43 | 79.98 | 130.5 | 122.02 |
| Dividend Payout % | 44% | 37% | 41% | 20% | 23% |
The financial performance of the company from March 2020 to March 2024 reflects a period of significant growth and improvement, particularly in the last two years. Sales saw a substantial increase, rising from ₹2,972 crore in March 2020 to ₹6,245 crore in March 2024. Correspondingly, expenses also grew from ₹1,919 crore to ₹4,402 crore over the same period. Despite this, the company managed to increase its operating profit, which rose from ₹1,053 crore in March 2020 to ₹1,843 crore in March 2024, with the Operating Profit Margin (OPM) fluctuating from 35% to 30%.
Other income showed a steady increase, reaching ₹175 crore in March 2024, while interest costs remained low, only slightly increasing from ₹7 crore to ₹12 crore. Depreciation costs also rose, from ₹162 crore to ₹274 crore during the period. Profit before tax improved significantly, growing from ₹984 crore in March 2020 to ₹1,733 crore in March 2024.
The company’s net profit saw notable growth, doubling from ₹794 crore in March 2020 to ₹1,289 crore in March 2024. Earnings per share (EPS) also experienced a sharp rise from ₹80.33 to ₹130.5 during this period. However, the dividend payout percentage decreased, dropping from 44% in March 2020 to 23% in March 2024. Overall, the financials reflect the company’s successful expansion, improved profitability, and efficient cost management, especially in the recent years.
FAQs
What is Mahanagar Gas Ltd ‘s current market capitalization?
Mahanagar Gas Ltd currently boasts a market capitalization of ₹17,090 crore
Mahanagar Gas Ltd ‘s share price soared to an impressive peak of ₹2,201.96 in December 2025, signaling strong investor confidence and market optimism.
Looking ahead, Mahanagar Gas Ltd ‘s share price is anticipated to reach impressive heights, ranging from ₹3,654.17 to ₹5,677.87 by December 2030, highlighting the company’s promising long-term growth prospects.
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Conclusion
In conclusion, Mahanagar Gas Ltd (MGL) has shown significant growth and stability in the Indian natural gas distribution sector, supported by its strong partnership with GAIL and the Government of Maharashtra. The company’s strategic initiatives, including its focus on expanding CNG and PNG infrastructure, reflect its commitment to cleaner energy solutions. Financially, MGL has demonstrated consistent improvement, with sales and net profit doubling over the last five years. The share price projections indicate a steady upward trend, with a potential peak of ₹5,677.87 by December 2030, reflecting strong investor confidence. The stable shareholding pattern and the recent strategic acquisition further strengthen MGL’s market position, making it a key player to watch in the coming years.
What did we learn?
- 1 Recent news about Mahanagar Gas Ltd
- 2 Shareholding Patterns
- 3 How to Purchase Mahanagar Gas Ltd ‘s Shares in India?
- 4 Mahanagar Gas Ltd Share Price Prediction: 2024, 2025 to 2030
- 4.1 Mahanagar Gas Ltd Share Price Target 2024
- 4.2 Mahanagar Gas Ltd Share Price Prediction 2025
- 4.3 Mahanagar Gas Ltd Share Price Target 2026
- 4.4 Mahanagar Gas Ltd Share Price Target 2027
- 4.5 Mahanagar Gas Ltd Share Price Prediction 2028
- 4.6 Mahanagar Gas Ltd Share Price Target 2029
- 4.7 Mahanagar Gas Ltd Share Price Target 2030
- 5 Financial Condition of Mahanagar Gas Ltd: Last 5 Years
- 6 FAQs
- 7 Conclusion
