MAHANAGAR GAS LTD. (MGL) financials

MAHANAGAR GAS LTD. (MGL) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

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]

Market Cap: ₹10,357Cr.
Current Price: ₹1,048
Stock P/E: 14.4
ROE: 12.3%
ROCE: 17.1%
Book Value: ₹651
Dividend Yield: 2.86%
52W High / Low: ₹1,315/900

In Jun 2026, MAHANAGAR GAS LTD. (MGL) reported sales ₹2,372 Cr and net profit ₹194 Cr.

Annual TTM: sales ₹8,531 Cr, net profit ₹721 Cr.

Shareholding: Promoters 32.50% (Sep 2026), FIIs 23.46% (Sep 2026), DIIs 22.26% (Sep 2026), Government 10.00% (Sep 2026), Public 11.78% (Sep 2026).

MGL quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	1,786	1,758	1,963	2,081	2,049	2,058	2,051	2,372
Expenses	1,373	1,443	1,568	1,581	1,711	1,706	1,791	2,029
Operating Profit	413	314	395	501	338	352	260	343
OPM %	23%	18%	20%	24%	16%	17%	13%	14%
Other Income	47	46	42	32	29	29	29	30
Interest	3	3	4	4	5	6	5	6
Depreciation	84	79	95	96	104	103	106	109
Profit before tax	373	278	338	432	258	272	178	259
Tax %	23%	19%	28%	26%	25%	26%	26%	25%
Net Profit	287	225	242	320	193	202	132	194
EPS in Rs	29.03	22.82	24.53	32.35	19.58	20.45	13.36	19.61
Raw PDF	—	—	—	—	—	—	—	—

MGL profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	2,972	2,153	3,560	6,299	6,245	7,261	8,240	8,531
Expenses	1,919	1,219	2,636	5,115	4,402	5,691	6,789	7,237
Operating Profit	1,053	934	924	1,184	1,843	1,570	1,451	1,293
OPM %	35%	43%	26%	19%	30%	22%	18%	15%
Other Income	99	81	86	112	175	166	119	118
Interest	7	7	8	9	12	14	21	22
Depreciation	162	174	196	231	274	352	409	422
Profit before tax	984	834	806	1,056	1,733	1,371	1,141	967
Tax %	19%	26%	26%	25%	26%	24%	26%	—
Net Profit	794	620	597	790	1,289	1,041	847	721
EPS in Rs	80.33	62.72	60.43	79.98	130.50	105.41	85.73	73.00
Dividend Payout %	44%	37%	41%	20%	23%	28%	35%	—

MGL balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	99	99	99	99	99	99	99	99
Reserves	2,300	2,854	3,134	3,499	4,035	5,044	5,780	6,335
Borrowings	0	67	74	103	115	139	198	219
Other Liabilities	1,042	1,109	1,295	1,534	1,783	1,944	2,208	2,312
Total Liabilities	3,441	4,128	4,601	5,234	6,032	7,226	8,284	8,965
Fixed Assets	1,763	2,049	2,169	2,614	3,026	3,543	4,844	5,373
CWIP	370	487	560	616	709	774	1,062	1,259
Investments	654	1,121	1,025	1,088	1,310	1,636	1,178	1,169
Other Assets	654	471	847	916	988	1,273	1,200	1,163
Total Assets	3,441	4,128	4,601	5,234	6,032	7,226	8,284	8,965

MGL cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	685	985	806	904	969	1,563	1,420	1,147
Cash from Investing Activity	-439	-755	-444	-539	-649	-1,267	-1,056	-874
Cash from Financing Activity	-235	-242	-349	-310	-285	-312	-341	-368
Net Cash Flow	12	-11	13	54	35	-15	22	-95
Free Cash Flow	322	559	466	256	257	793	249	87
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	108%	116%	108%	121%	104%	108%	108%	97%

MGL shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%	32.50%
FIIs	25.75%	23.76%	25.48%	23.59%	24.89%	24.13%	23.21%	23.46%
DIIs	21.10%	23.82%	22.52%	22.89%	20.83%	21.01%	22.53%	22.26%
Government	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Public	10.64%	9.92%	9.50%	11.01%	11.79%	12.34%	11.75%	11.78%
No. of Shareholders	1,73,905	1,67,650	1,66,589	1,78,576	1,79,761	1,84,373	1,78,033	1,75,638

MGL key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	13	8	22	19	17	16	18	20
Inventory Days	5	5	11	5	3	4	4	4
Days Payable	40	35	76	48	26	34	34	31
Cash Conversion Cycle	-22	-21	-44	-24	-7	-13	-11	-6
Working Capital Days	-78	-97	-152	-106	-63	-72	-67	-56
ROCE %	37%	37%	27%	23%	27%	34%	23%	17%

MGLUpdated 22 Oct 2026, 5:48

Mahanagar Gas Ltd.

MGLUpdated 22 Oct 2026, 5:48

Market Cap

₹10,357Cr.

Current Price

₹1,048

High / Low

₹1,315/900

Stock P/E

14.4

ROE12.3%

ROCE17.1%

Book Value₹651

Face Value₹10.0

Dividend Yield2.86%

About

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	1538	3	1017	39	62	496	26	368	37.3
Sep 2023	1571	2	1092	44	66	454	25	338	34.27
Dec 2023	1569	3	1120	48	68	426	26	317	32.11
Mar 2024	1567	4	1173	45	78	357	26	265	26.83
Jun 2024	1590	3	1171	40	72	384	26	285	28.81
Sep 2024	1786	3	1373	47	84	373	23	287	29.03
Dec 2024	1758	3	1443	46	79	278	19	225	22.82
Mar 2025	1963	4	1568	42	95	338	28	242	24.53
Jun 2025	2081	4	1581	32	96	432	26	320	32.35
Sep 2025	2049	5	1711	29	104	258	25	193	19.58
Dec 2025	2058	6	1706	29	103	272	26	202	20.45
Mar 2026	2051	5	1791	29	106	178	26	132	13.36
Jun 2026	2372	6	2029	30	109	259	25	194	19.61

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	2095	1	1605	41	80	449	33	301	33.69
Mar 2016	2078	2	1569	47	83	472	34	311	34.8
Mar 2017	2034	1	1390	53	95	601	34	393	39.83
Mar 2018	2233	0	1453	58	111	727	34	478	48.38
Mar 2019	2791	0	1906	78	126	837	35	546	55.32
Mar 2020	2972	7	1919	99	162	984	19	794	80.33
Mar 2021	2153	7	1219	81	174	834	26	620	62.72
Mar 2022	3560	8	2636	86	196	806	26	597	60.43
Mar 2023	6299	9	5115	112	231	1056	25	790	79.98
Mar 2024	6245	12	4402	175	274	1733	26	1289	130.5
Mar 2025	7261	14	5691	166	352	1371	24	1041	105.41
Mar 2026	8240	21	6789	119	409	1141	26	847	85.73
TTM	8531	22	7237	118	422	967	—	721	73

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	32.5%
FIIs	23.46%
DIIs	22.26%
Government	10%
Public	11.78%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Government	Public
Dec 2023	32.5%	30.85%	17.23%	10%	9.43%
Mar 2024	32.5%	30.54%	17.4%	10%	9.55%
Jun 2024	32.5%	31.49%	16.67%	10%	9.32%
Sep 2024	32.5%	34.2%	15.46%	10%	7.84%
Dec 2024	32.5%	25.75%	21.1%	10%	10.64%
Mar 2025	32.5%	23.76%	23.82%	10%	9.92%
Jun 2025	32.5%	25.48%	22.52%	10%	9.5%
Sep 2025	32.5%	23.59%	22.89%	10%	11.01%
Dec 2025	32.5%	24.89%	20.83%	10%	11.79%
Mar 2026	32.5%	24.13%	21.01%	10%	12.34%
Jun 2026	32.5%	23.21%	22.53%	10%	11.75%
Sep 2026	32.5%	23.46%	22.26%	10%	11.78%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	89	1318	16	743	2166	1064	380	371	350	2166
Mar 2016	89	1639	5	637	2370	1129	429	393	419	2370
Mar 2017	99	1741	3	782	2624	1305	412	467	441	2624
Mar 2018	99	1997	1	914	3010	1532	357	688	434	3010
Mar 2019	99	2300	0	1042	3441	1763	370	654	654	3441
Mar 2020	99	2854	67	1109	4128	2049	487	1121	471	4128
Mar 2021	99	3134	74	1295	4601	2169	560	1025	847	4601
Mar 2022	99	3499	103	1534	5234	2614	616	1088	916	5234
Mar 2023	99	4035	115	1783	6032	3026	709	1310	988	6032
Mar 2024	99	5044	139	1944	7226	3543	774	1636	1273	7226
Mar 2025	99	5780	198	2208	8284	4844	1062	1178	1200	8284
Mar 2026	99	6335	219	2312	8965	5373	1259	1169	1163	8965

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	427	-261	-176	-10
Mar 2016	419	-222	-191	5
Mar 2017	532	-263	-284	-15
Mar 2018	652	-419	-226	8
Mar 2019	685	-439	-235	12
Mar 2020	985	-755	-242	-11
Mar 2021	806	-444	-349	13
Mar 2022	904	-539	-310	54
Mar 2023	969	-649	-285	35
Mar 2024	1563	-1267	-312	-15
Mar 2025	1420	-1056	-341	22
Mar 2026	1147	-874	-368	-95

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	17	16	17	14	13	8	22	19	17	16	18	20
Inventory Days	5	5	8	8	5	5	11	5	3	4	4	4
Days Payable	32	33	43	39	40	35	76	48	26	34	34	31
Cash Conversion Cycle	-10	-12	-18	-16	-22	-21	-44	-24	-7	-13	-11	-6
Working Capital Days	-80	-59	-79	-86	-78	-97	-152	-106	-63	-72	-67	-56
ROCE %	33%	30%	34%	37%	37%	37%	27%	23%	27%	34%	23%	17%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of MAHANAGAR GAS LTD. (MGL)?

The reported market capitalisation for MAHANAGAR GAS LTD. (MGL) is ₹10,357Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of MGL?

The current price shown for MAHANAGAR GAS LTD. (MGL) on Fincrux is ₹1,048 with a 52-week high/low of ₹1,315/900.

What is the P/E ratio of MAHANAGAR GAS LTD. (MGL)?

The stock P/E for MAHANAGAR GAS LTD. (MGL) is 14.4 on Fincrux, with ROE at 12.3% and ROCE at 17.1%.

What were MGL latest quarterly results?

For Jun 2026, MAHANAGAR GAS LTD. (MGL) reported sales ₹2,372 Cr and net profit ₹194 Cr (figures in ₹ crore unless noted).

What are MGL annual sales and net profit?

For TTM, MAHANAGAR GAS LTD. (MGL) shows sales of ₹8,531 Cr and net profit of ₹721 Cr on the Fincrux profit & loss statement.

Who owns MAHANAGAR GAS LTD. (MGL)?

Latest shareholding for MAHANAGAR GAS LTD. (MGL) on Fincrux: Promoters 32.50% (Sep 2026), FIIs 23.46% (Sep 2026), DIIs 22.26% (Sep 2026), Government 10.00% (Sep 2026), Public 11.78% (Sep 2026).

Where can I find MAHANAGAR GAS LTD. (MGL) financials?

MAHANAGAR GAS LTD. (MGL) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show MGL balance sheet and cash flow?

Yes. The MAHANAGAR GAS LTD. (MGL) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 22 October 2026 at 5:48