Mahanagar Gas (MGL) Stock Overview
Operates as a natural gas distribution company in India. More details
| Snowflake Score | |
|---|---|
| Valuation | 6/6 |
| Future Growth | 1/6 |
| Past Performance | 2/6 |
| Financial Health | 5/6 |
| Dividends | 5/6 |
MGL Community Fair Values
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Analyst Price Targets
Mahanagar Gas Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₹1,074.90 |
| 52 Week High | ₹1,586.90 |
| 52 Week Low | ₹900.00 |
| Beta | 0.78 |
| 1 Month Change | -4.89% |
| 3 Month Change | -9.90% |
| 1 Year Change | -19.87% |
| 3 Year Change | 2.84% |
| 5 Year Change | -9.76% |
| Change since IPO | 102.41% |
Recent News & Updates
Narrative Update • May 15
MGL: Board Review Will Weigh Dividend Plan And Leadership Transition
Analysts have nudged their fair value estimate for Mahanagar Gas slightly lower from ₹1,021.81 to ₹1,020.00, citing updated assumptions that combine a higher projected revenue growth rate with a lower profit margin and a modestly reduced future P/E multiple. What's in the News Mahanagar Gas has scheduled a board meeting on May 07, 2026, at 15:30 Indian Standard Time to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 (Key Developments).
Narrative Update • Apr 27
MGL: Interim Dividend Decision At Upcoming Board Meeting Will Support Earnings Resilience
Analysts have inched up their price target for Mahanagar Gas from about ₹1,749 to roughly ₹1,754, reflecting updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News A board meeting is scheduled for February 7, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and to consider an interim dividend for FY 2025-26 (Key Developments).Recent updates
Narrative Update • May 15
MGL: Board Review Will Weigh Dividend Plan And Leadership Transition
Analysts have nudged their fair value estimate for Mahanagar Gas slightly lower from ₹1,021.81 to ₹1,020.00, citing updated assumptions that combine a higher projected revenue growth rate with a lower profit margin and a modestly reduced future P/E multiple. What's in the News Mahanagar Gas has scheduled a board meeting on May 07, 2026, at 15:30 Indian Standard Time to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 (Key Developments).Narrative Update • Apr 27
MGL: Interim Dividend Decision At Upcoming Board Meeting Will Support Earnings Resilience
Analysts have inched up their price target for Mahanagar Gas from about ₹1,749 to roughly ₹1,754, reflecting updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News A board meeting is scheduled for February 7, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and to consider an interim dividend for FY 2025-26 (Key Developments).Narrative Update • Apr 13
MGL: Upcoming Board Meeting And Interim Dividend Will Support Earnings Resilience
Analysts have nudged their price target on Mahanagar Gas slightly higher from ₹1,731.05 to about ₹1,748.82, citing updated assumptions that pair a lower revenue growth outlook with a modestly higher profit margin and a slightly richer future P/E multiple. What's in the News Board meeting scheduled for February 7, 2026, to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).Narrative Update • Mar 30
MGL: Upcoming Board Meeting And Interim Dividend May Support Earnings Resilience
Analysts have trimmed their price target for Mahanagar Gas from ₹1,834.66 to ₹1,731.05, citing updated assumptions around slightly lower profit margins and a revised profile for the long term growth rate and discount rate. What's in the News A board meeting is scheduled on February 7, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).Narrative Update • Mar 16
MGL: Upcoming Board Review Will Balance Dividend Prospects And Modest Multiple Pressure
Analysts have trimmed their price target for Mahanagar Gas slightly to about ₹1,022 from roughly ₹1,029, reflecting updated assumptions on revenue growth, profit margins and the forward P/E multiple. What's in the News A board meeting is scheduled on Feb 07, 2026, to review and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).Narrative Update • Mar 02
MGL: Upcoming Board Review Will Highlight Pressure On Margins And P/E
Analysts have trimmed their fair value estimate for Mahanagar Gas slightly, taking the price target from about ₹1,036.77 to roughly ₹1,028.60. They are recalibrating assumptions around revenue growth, profit margins, a modestly higher future P/E multiple, and a slightly lower discount rate.
Narrative Update • Feb 16
MGL: Upcoming Board Meeting And Interim Dividend Will Support Bullish Outlook
Analysts have trimmed their price target for Mahanagar Gas from about ₹1,437 to roughly ₹1,381, citing updated assumptions on the discount rate, long term revenue growth, profit margins and forward P/E. What's in the News Board meeting scheduled for February 7, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).Analysis Article • Feb 12
Mahanagar Gas (NSE:MGL) Has Announced A Dividend Of ₹12.00
Mahanagar Gas Limited ( NSE:MGL ) has announced that it will pay a dividend of ₹12.00 per share on the 9th of March...Narrative Update • Feb 02
MGL: Upcoming Board Meeting And Interim Dividend Decision Will Support Outlook
Analysts have trimmed their fair value estimate for Mahanagar Gas from ₹1,469.13 to ₹1,436.72, reflecting updates to their assumptions on long term revenue growth, profit margins and future P/E levels. What's in the News Board meeting scheduled for February 7, 2026, to review and approve the unaudited standalone financial results for the quarter and nine months ended December 31, 2025 (Key Developments).Narrative Update • Jan 19
MGL: Board Results Review Will Clarify Outlook For Margins And P/E
Analysts have trimmed their fair value estimate for Mahanagar Gas from ₹1,151.49 to ₹1,036.77 as they factor in updated assumptions around revenue growth, profit margin and future P/E levels. What's in the News Mahanagar Gas has scheduled a board meeting on Oct 29, 2025, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended Sep 30, 2025 (Key Developments).Analysis Article • Jan 08
Improved Earnings Required Before Mahanagar Gas Limited (NSE:MGL) Shares Find Their Feet
Mahanagar Gas Limited's ( NSE:MGL ) price-to-earnings (or "P/E") ratio of 10.8x might make it look like a strong buy...Narrative Update • Jan 05
MGL: Upcoming Board Review May Support Earnings Resilience Despite Margin Pressure
Analysts have trimmed their price target for Mahanagar Gas by about ₹115, reflecting slightly higher discount rate assumptions and expectations of lower profit margins, partly offset by projections of stronger revenue growth and a modestly lower future P E multiple. What's in the News Board meeting scheduled on October 29, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).Narrative Update • Dec 19
MGL: Upcoming Board Meeting Will Support Positive Long Term Outlook
Analysts have marginally raised their price target on Mahanagar Gas to ₹1,469.13 from ₹1,468.80, reflecting slightly higher long term revenue growth assumptions that more than offset a modest trim to projected profit margins. What's in the News Mahanagar Gas has scheduled a board meeting on October 29, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).Analysis Article • Dec 14
A Look At The Fair Value Of Mahanagar Gas Limited (NSE:MGL)
Key Insights The projected fair value for Mahanagar Gas is ₹1,287 based on 2 Stage Free Cash Flow to Equity With ₹1,123...Narrative Update • Dec 05
MGL: Upcoming Board Review And LNG Collaboration Will Drive Future Upside
The analyst price target for Mahanagar Gas has been raised slightly from ₹1,466.8 to ₹1,468.8 as analysts factor in marginally higher revenue growth expectations and stable discount rates, despite a near flat outlook for profit margins and future P E multiples. What's in the News Mahanagar Gas has scheduled a board meeting on October 29, 2025 to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).Analysis Article • Nov 26
Mahanagar Gas (NSE:MGL) Hasn't Managed To Accelerate Its Returns
What are the early trends we should look for to identify a stock that could multiply in value over the long term? One...Narrative Update • Nov 20
MGL: Collaboration With Oil India And Clean Energy Steps Will Drive Upside
Analysts have slightly reduced their price target for Mahanagar Gas from ₹1,481.57 to ₹1,466.80. This change is due to minor downward adjustments in profit margin expectations and future earnings multiples.Narrative Update • Nov 06
MGL: Collaboration And Clean Energy Expansion Will Drive Future Upside
Analysts have revised their price target for Mahanagar Gas downward from ₹1,550.69 to ₹1,481.57. This revision is due to slightly weaker profit margins and a marginal increase in the discount rate, even though revenue growth forecasts have improved.Analysis Article • Nov 06
Why Mahanagar Gas' (NSE:MGL) Shaky Earnings Are Just The Beginning Of Its Problems
The subdued market reaction suggests that Mahanagar Gas Limited's ( NSE:MGL ) recent earnings didn't contain any...Analysis Article • Sep 17
Earnings Working Against Mahanagar Gas Limited's (NSE:MGL) Share Price
Mahanagar Gas Limited's ( NSE:MGL ) price-to-earnings (or "P/E") ratio of 12.6x might make it look like a strong buy...Narrative Update • Sep 05
Gas Infrastructure Expansion Will Drive Urban Clean Fuel Adoption
With both revenue growth and net profit margin forecasts holding steady, Mahanagar Gas’s consensus analyst price target remained unchanged at ₹1551. What's in the News Board meeting scheduled to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2025.Analysis Article • Jul 15
Mahanagar Gas (NSE:MGL) Might Be Having Difficulty Using Its Capital Effectively
To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...Analysis Article • Mar 01
Mahanagar Gas (NSE:MGL) Has A Pretty Healthy Balance Sheet
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Feb 13
Little Excitement Around Mahanagar Gas Limited's (NSE:MGL) Earnings
Mahanagar Gas Limited's ( NSE:MGL ) price-to-earnings (or "P/E") ratio of 12.3x might make it look like a strong buy...
New Narrative • Jan 31
CGD Expansion And UEPL Merger Will Improve CNG Adoption And Operational Efficiencies
Expansion of CGD infrastructure and a court order phasing out petrol/diesel vehicles are likely to boost CNG adoption and revenue growth.Analysis Article • Dec 18
Be Wary Of Mahanagar Gas (NSE:MGL) And Its Returns On Capital
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically...Analysis Article • Nov 01
Mahanagar Gas (NSE:MGL) Strong Profits May Be Masking Some Underlying Issues
Mahanagar Gas Limited's ( NSE:MGL ) stock didn't jump after it announced some healthy earnings. Our analysis showed...Analysis Article • Oct 22
Mahanagar Gas Limited's (NSE:MGL) Low P/E No Reason For Excitement
With a price-to-earnings (or "P/E") ratio of 12.9x Mahanagar Gas Limited ( NSE:MGL ) may be sending very bullish...Analysis Article • Sep 26
Is Mahanagar Gas (NSE:MGL) A Risky Investment?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Analysis Article • Jul 02
Mahanagar Gas Limited's (NSE:MGL) Shares Bounce 35% But Its Business Still Trails The Market
Mahanagar Gas Limited ( NSE:MGL ) shares have had a really impressive month, gaining 35% after a shaky period...Analysis Article • Jun 07
Shareholders Are Optimistic That Mahanagar Gas (NSE:MGL) Will Multiply In Value
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...Analysis Article • Mar 21
We Think Mahanagar Gas (NSE:MGL) Can Manage Its Debt With Ease
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Analysis Article • Mar 06
Capital Investments At Mahanagar Gas (NSE:MGL) Point To A Promising Future
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things...Analysis Article • Feb 17
Mahanagar Gas Limited's (NSE:MGL) Price Is Right But Growth Is Lacking
Mahanagar Gas Limited's ( NSE:MGL ) price-to-earnings (or "P/E") ratio of 11.6x might make it look like a strong buy...Analysis Article • Jan 11
Calculating The Fair Value Of Mahanagar Gas Limited (NSE:MGL)
Key Insights Mahanagar Gas' estimated fair value is ₹984 based on 2 Stage Free Cash Flow to Equity Current share price...Analysis Article • Oct 04
Mahanagar Gas (NSE:MGL) Might Become A Compounding Machine
There are a few key trends to look for if we want to identify the next multi-bagger. In a perfect world, we'd like to...Analysis Article • Sep 07
Estimating The Fair Value Of Mahanagar Gas Limited (NSE:MGL)
Key Insights Using the 2 Stage Free Cash Flow to Equity, Mahanagar Gas fair value estimate is ₹900 Current share price...Analysis Article • Aug 03
Mahanagar Gas (NSE:MGL) Has Announced That It Will Be Increasing Its Dividend To ₹16.00
Mahanagar Gas Limited ( NSE:MGL ) will increase its dividend from last year's comparable payment on the 23rd of...Shareholder Returns
| MGL | IN Gas Utilities | IN Market | |
|---|---|---|---|
| 7D | 1.5% | 1.4% | 0.5% |
| 1Y | -19.9% | -14.0% | -0.5% |
Return vs Industry: MGL underperformed the Indian Gas Utilities industry which returned -14% over the past year.
Return vs Market: MGL underperformed the Indian Market which returned -0.5% over the past year.
Price Volatility
| MGL volatility | |
|---|---|
| MGL Average Weekly Movement | 5.4% |
| Gas Utilities Industry Average Movement | 6.2% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in IN Market | 10.1% |
| 10% least volatile stocks in IN Market | 4.8% |
Stable Share Price: MGL has not had significant price volatility in the past 3 months compared to the Indian market.
Volatility Over Time: MGL's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1995 | 579 | n/a | www.mahanagargas.com |
Mahanagar Gas Limited operates as a natural gas distribution company in India. The company supplies piped natural gas (PNG) to domestic households for cooking and water heating, as well as for nursing homes, flight kitchens, and places of worship; commercial establishments, including hospitals, hotels, restaurants, and charitable trusts; and industries, such as metals, pharmaceuticals, printing and dyeing, food and beverages, oil mills, FMCG product manufacturers, power generation, and air-conditioning. It also provides compressed natural gas to transport sector.
Mahanagar Gas Limited Fundamentals Summary
| MGL fundamental statistics | |
|---|---|
| Market cap | ₹106.18b |
| Earnings (TTM) | ₹8.41b |
| Revenue (TTM) | ₹82.46b |
12.6x
P/E Ratio1.3x
P/S RatioIs MGL overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MGL income statement (TTM) | |
|---|---|
| Revenue | ₹82.46b |
| Cost of Revenue | ₹56.36b |
| Gross Profit | ₹26.10b |
| Other Expenses | ₹17.69b |
| Earnings | ₹8.41b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 85.15 |
| Gross Margin | 31.65% |
| Net Profit Margin | 10.20% |
| Debt/Equity Ratio | 0% |
How did MGL perform over the long term?
See historical performance and comparisonDividends
2.8%
Current Dividend Yield35%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/25 17:19 |
| End of Day Share Price | 2026/05/25 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Mahanagar Gas Limited is covered by 43 analysts. 28 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Vivekanand Subbaraman | Ambit Capital |
| null null | Antique Stockbroking Ltd. |
| Somaiah Valliyappan | Avendus Spark |