Mahanagar Gas Limited (MGL), established on May 8, 1995, is a leading natural gas distribution company in India. It operates as a joint venture between GAIL (India) Limited, a Maharatna enterprise of the Indian government, and the Government of Maharashtra. MGL specializes in the distribution of compressed natural gas (CNG) and piped natural gas (PNG), catering to the Mumbai Metropolitan Region, including Mumbai, Thane, and Raigad districts. The company serves a diverse customer base, providing natural gas solutions for domestic, commercial, industrial, and automotive applications. MGL is publicly traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) under the ticker symbol MGL.
Latest news about Mahanagar Gas Ltd
Mahanagar Gas Ltd has recently made notable strides in its operations and strategic investments. The company is set to trade ex-dividend on August 14, 2024, meaning that investors buying the stock on or after this date will not be eligible for the upcoming dividend payout.
In terms of operational growth, Mahanagar Gas is actively expanding its CNG and LNG sales volumes, with a particular focus on increasing usage in BEST buses and trucks. Currently, CNG sales represent over 70% of the company’s total sales volume, highlighting its significant role in MGL’s business.
Additionally, Mahanagar Gas Ltd has announced a significant investment decision, agreeing to acquire a 31% stake in 3EV Industries Pvt. Ltd for ₹96 crore. This acquisition will be executed through the issuance of equity shares and is expected to enhance MGL’s position and influence in the industry.
Shareholding Patterns
| 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 |
Over the period from June 2023 to June 2024, the company’s shareholding patterns showed some significant changes. The promoters consistently held a stable 32.50% of the shares. Foreign Institutional Investors (FIIs) saw a slight decrease in their holdings, dropping from 32.38% in June 2023 to 31.49% by June 2024. Domestic Institutional Investors (DIIs) increased their stake from 15.15% to 16.67%, signaling a rise in domestic institutional interest. Government ownership remained unchanged at 10%. Public shareholding saw a small decline from 9.96% to 9.32%. The total number of shareholders also fell, decreasing from 1,54,383 to 1,47,540 during this period.
How to Purchase Mahanagar Gas Ltd ‘s Shares in India?
Below are the trading platforms that you can use to purchase Mahanagar Gas Ltd shares:
➤ Zerodha
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Mahanagar Gas Ltd Share Price Prediction: 2024, 2025 to 2030
Mahanagar Gas Ltd Share Price Target 2024
| When | Maximum Price | Minimum Price |
| August 2024 | 1,817.35 | 1,580.31 |
| September 2024 | 1,890.05 | 1,643.52 |
| October 2024 | 1,852.99 | 1,611.29 |
| November 2024 | 1,927.11 | 1,675.75 |
| December 2024 | 1,946.38 | 1,692.50 |
In August 2024, Mahanagar Gas Ltd’s share prices are expected to reach a maximum of ₹1,817.35 and a minimum of ₹1,580.31. As we approach December 2024, the share prices of Mahanagar Gas Ltd are projected to rise further, with a maximum of ₹1,946.38 and a minimum of ₹1,692.50.
Mahanagar Gas Ltd Share Price Prediction 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 1,965.84 | 1,512.19 |
| February 2025 | 1,985.70 | 1,527.46 |
| March 2025 | 2,027.40 | 1,559.54 |
| April 2025 | 2,007.33 | 1,544.10 |
| May 2025 | 1,948.86 | 1,499.12 |
| June 2025 | 2,036.56 | 1,566.58 |
| July 2025 | 1,996.63 | 1,535.87 |
| August 2025 | 2,058.38 | 1,583.37 |
| September 2025 | 2,083.08 | 1,602.37 |
| October 2025 | 2,137.24 | 1,644.03 |
| November 2025 | 2,190.67 | 1,685.13 |
| December 2025 | 2,289.25 | 1,760.96 |
As we step into January 2025, Mahanagar Gas Ltd’s share prices are anticipated to peak at a maximum of ₹1,965.84 and dip to a minimum of ₹1,512.19. As we approach December 2025, Mahanagar Gas Ltd is expected to see further growth, with the maximum price reaching ₹2,289.25 and the minimum price stabilizing at ₹1,760.96.
Mahanagar Gas Ltd Share Price Target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 2,357.93 | 1,813.79 |
| February 2026 | 2,298.98 | 1,768.45 |
| March 2026 | 2,344.96 | 1,803.81 |
| April 2026 | 2,392.81 | 1,840.63 |
| May 2026 | 2,369.12 | 1,822.40 |
| June 2026 | 2,428.35 | 1,867.96 |
| July 2026 | 2,380.74 | 1,831.34 |
| August 2026 | 2,454.37 | 1,887.98 |
| September 2026 | 2,503.46 | 1,925.73 |
| October 2026 | 2,568.55 | 1,975.80 |
| November 2026 | 2,632.76 | 2,025.20 |
| December 2026 | 2,698.58 | 2,075.83 |
Mahanagar Gas Ltd Share Price Prediction 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 2,725.56 | 2,096.59 |
| February 2027 | 2,795.45 | 2,150.35 |
| March 2027 | 2,904.47 | 2,234.21 |
| April 2027 | 2,847.52 | 2,190.40 |
| May 2027 | 2,764.58 | 2,126.60 |
| June 2027 | 2,888.99 | 2,222.30 |
| July 2027 | 2,832.34 | 2,178.73 |
| August 2027 | 2,919.94 | 2,246.11 |
| September 2027 | 3,022.14 | 2,324.72 |
| October 2027 | 3,100.72 | 2,385.17 |
| November 2027 | 3,178.23 | 2,444.80 |
| December 2027 | 3,257.69 | 2,505.91 |
Mahanagar Gas Ltd Share Price Target 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 3,322.84 | 2,556.03 |
| February 2028 | 3,408.04 | 2,621.57 |
| March 2028 | 3,540.96 | 2,723.81 |
| April 2028 | 3,471.53 | 2,670.41 |
| May 2028 | 3,370.41 | 2,592.63 |
| June 2028 | 3,522.08 | 2,709.30 |
| July 2028 | 3,453.02 | 2,656.17 |
| August 2028 | 3,559.82 | 2,738.32 |
| September 2028 | 3,684.41 | 2,834.16 |
| October 2028 | 3,780.21 | 2,907.85 |
| November 2028 | 3,874.71 | 2,980.55 |
| December 2028 | 3,971.58 | 3,055.06 |
Mahanagar Gas Ltd Share Price Target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 4,051.01 | 3,116.16 |
| February 2029 | 4,154.88 | 3,196.06 |
| March 2029 | 4,316.92 | 3,320.71 |
| April 2029 | 4,232.28 | 3,255.60 |
| May 2029 | 4,109.01 | 3,160.77 |
| June 2029 | 4,293.91 | 3,303.01 |
| July 2029 | 4,209.72 | 3,238.24 |
| August 2029 | 4,339.92 | 3,338.40 |
| September 2029 | 4,491.81 | 3,455.24 |
| October 2029 | 4,608.60 | 3,545.08 |
| November 2029 | 4,723.81 | 3,633.70 |
| December 2029 | 4,841.91 | 3,724.55 |
Mahanagar Gas Ltd Share Price Prediction 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 4,938.75 | 3,799.04 |
| February 2030 | 5,065.38 | 3,896.45 |
| March 2030 | 5,262.93 | 4,048.41 |
| April 2030 | 5,159.74 | 3,969.03 |
| May 2030 | 5,009.45 | 3,853.43 |
| June 2030 | 5,234.88 | 4,026.83 |
| July 2030 | 5,132.24 | 3,947.87 |
| August 2030 | 5,290.96 | 4,069.97 |
| September 2030 | 5,476.15 | 4,212.42 |
| October 2030 | 5,618.53 | 4,321.94 |
| November 2030 | 5,758.99 | 4,429.99 |
| December 2030 | 5,902.97 | 4,540.74 |
In January 2030, Mahanagar Gas Ltd is expected to see its share prices peak at a maximum of ₹4,938.75 and dip to a minimum of ₹3,799.04. As we approach December 2030, the company’s share prices are projected to rise further, reaching a maximum of ₹5,902.97 and a minimum of ₹4,540.74.
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% |
Mahanagar Gas Ltd has experienced fluctuating financial performance over the past five years. From March 2020 to March 2024, the company’s sales grew significantly, reaching ₹6,245 crore in March 2024 from ₹2,972 crore in March 2020. Despite an increase in expenses, the operating profit also rose from ₹1,053 crore to ₹1,843 crore during the same period. However, the operating profit margin (OPM) varied, peaking at 43% in March 2021 and dropping to 19% in March 2023 before recovering to 30% in March 2024.
Net profit showed a gradual improvement, increasing from ₹794 crore in March 2020 to ₹1,289 crore in March 2024, leading to a rise in EPS from ₹80.33 to ₹130.5. Despite this, the dividend payout ratio decreased from 44% in March 2020 to 23% in March 2024, reflecting a strategic shift in profit allocation. Overall, Mahanagar Gas Ltd demonstrated Strong growth, particularly in sales and profitability, despite varying operational margins and a lower dividend payout ratio.
FAQs
What is Mahanagar Gas Ltd ‘s current market capitalization?
Mahanagar Gas Ltd currently boasts a market capitalization of ₹17,767 crore
What is the expected share price target of Mahanagar Gas Ltd by 2024?
Based on various market analyses and expert opinions, the expected share price target of Mahanagar Gas Ltd by 2024 is around INR 1,946.38.
What was Mahanagar Gas Ltd ‘s highest share price target in 2025?
Mahanagar Gas Ltd ‘s share price soared to an impressive peak of ₹2,289.25 in December 2025, signaling strong investor confidence and market optimism.
What is the projected share price target for Mahanagar Gas Ltd in 2030?
Looking ahead, Mahanagar Gas Ltd ‘s share price is anticipated to reach impressive heights, ranging from ₹3,799.04 to ₹5,902.97 by December 2030, highlighting the company’s promising long-term growth prospects.
How can I invest in Mahanagar Gas Ltd shares?
You can invest in Mahanagar Gas Ltd shares through a stockbroker, either online or offline. You will need to open a Demat account and trading account to buy and sell shares. We recommend Groww and Paytm Money.
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Conclusion
In summary, Mahanagar Gas Ltd (MGL) has established itself as a strong and reliable player in India’s natural gas distribution market, bolstered by its strategic alliance with GAIL and the Government of Maharashtra. The company’s commitment to enhancing its CNG and PNG networks underscores its dedication to promoting sustainable and cleaner energy options. Financially, MGL has consistently performed well, with a notable doubling of sales and net profit over the past five years. The outlook for the company’s share price is positive, with projections suggesting a potential high of ₹5,677.87 by December 2030, signaling solid investor confidence. Additionally, the stable shareholding structure and recent strategic acquisition position MGL as a significant competitor in the industry, making it a company with promising prospects in the coming years.
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