# MGL (MGL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/mgl

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,082.5
- Change: +1.05%
- As of: 2026-09-18
- 1D return: +0.98%
- 5D return: -1.74%
- 1M return: -4.93%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, MGL's stock is trading at ₹1081.7, showing a mixed technical picture across different timeframes. The daily timeframe indicates a bearish trend, with the price below key moving averages (EMA 20, EMA 50, SMA 20, SMA 50, SMA 200) and the Supertrend indicator signaling bearish conditions. This is further supported by a negative slope in the 5-day EMA and SMA 20. However, the weekly timeframe presents a conflicting signal, with the Supertrend indicator in bullish territory, although the price remains below its weekly EMA 20, EMA 50, SMA 20, and SMA 50. The monthly timeframe also shows a bearish trend, with the price below its EMA 20, SMA 20, and Supertrend indicator, and a negative slope on the 5-day EMA 20.

Recent price action has formed a "Bullish Engulfing Reversal" pattern on the daily chart, suggesting potential short-term buying interest, alongside a "Doji" on the weekly chart and a "Harami" on the monthly chart. The stock is currently positioned around 35% of its 20-day range and 38% of its 252-day range, closer to the lower end. The nearest support is observed at ₹1079.07, followed by ₹1072.03. Resistance is noted at ₹1086.93 and ₹1093.97.

The stock exhibits an annualized volatility of 32% and a current drawdown of -30%. The Average True Range (ATR) at 2.4% indicates the typical price fluctuation. Key watch conditions include monitoring the price action around the ₹1086.93 resistance level and the ₹1079.07 support level. A sustained move above ₹1093.97 could challenge the bearish daily trend, while a break below ₹1072.03 might reinforce the prevailing downtrend.

- The stock closed at ₹1081.7 on September 18, 2026.
- Daily and monthly timeframes show bearish trends, while the weekly timeframe shows a bullish Supertrend signal.
- Nearest support levels are ₹1079.07 and ₹1072.03.
- Nearest resistance levels are ₹1086.93 and ₹1093.97.
- Watch for price action around ₹1086.93 and ₹1079.07 for potential trend confirmation or reversal signals.

- Harami
- Doji
- Bullish Engulfing Reversal
- Inside Bar
- Hammer
- Bearish Engulfing Reversal

### News Context

The past seven days have seen commentary on the potential impact of elevated crude oil prices on Oil Marketing Companies (OMCs) in India. A report from Nomura on September 16, 2026, suggested a potential sharp recovery for OMCs in the second quarter, despite crude oil prices exceeding $100 per barrel. However, Nomura expressed a preference for Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) over Hindustan Petroleum Corporation Ltd (HPCL).

Earlier, on September 12, 2026, reports indicated that OMCs were facing losses of ₹5 per litre on petrol and ₹23 per litre on diesel. The concern highlighted was that if crude oil prices remained above $100 per barrel, and retail prices were restricted from increasing, OMCs could experience negative marketing margins on petrol and diesel. This scenario could also lead to higher under-recoveries on LPG, increased costs for crude landing, freight, and insurance, accumulation of working capital and debt, and potential inventory losses if crude prices were to fall sharply later.

- On September 16, 2026, Nomura noted potential for a sharp Q2 recovery for OMCs despite crude oil prices above $100/barrel, preferring IOCL and BPCL.
- Reports on September 12, 2026, stated OMCs faced losses of ₹5/litre on petrol and ₹23/litre on diesel.
- Concerns were raised on September 12, 2026, that sustained crude oil prices above $100/barrel with restricted retail price hikes could lead to negative marketing margins, higher under-recoveries, increased costs, and potential inventory losses for OMCs.

- Nomura sees sharp Q2 recovery for OMCs despite $100 oil; prefers IOCL, BPCL
- OMCs Lose Rs 5 Per Litre On Petrol, Rs 23 On Diesel

### What Changed

Mahanagar Gas (MGL) experienced a modest price increase on September 18, 2026, moving to ₹1081.7 from its previous price of ₹1071.2. This represents a change of ₹10.5 over the observed period. No new filings or news developments were reported as of the report date. The company's trading context remains unchanged, with its listing on the NSE.

- On 2026-09-18, MGL's price was ₹1081.7, up from ₹1071.2.
- The price change on 2026-09-18 was an increase of ₹10.5.
- No new filings or news were reported for MGL as of 2026-09-18.
- MGL continues to be listed on the NSE.

### Official Filings

Mahanagar Gas Limited (MGL) has been actively engaging with analysts and institutional investors through various conferences and meetings in August and September 2026. These interactions provide a platform for the company to discuss its performance and outlook. Notably, the company held its 31st Annual General Meeting (AGM) on August 25, 2026. During this meeting, shareholders approved the audited financial statements for the fiscal year ending March 31, 2026. A significant outcome was the approval of dividends, with an interim dividend of ₹12 per share and a final dividend of ₹18 per share declared. The reappointment of Dr. P. Anbalagan as a director was also confirmed. Furthermore, the company ratified cost auditor remuneration for FY 2027 and approved material related-party transactions with GAIL (India) Limited, alongside authorizing commission payments to independent directors. Earlier in August, MGL reported its Q1 FY27 results, showing a 7.01% year-over-year increase in average overall sales volume to 4.766 mmscmd. This growth was driven by a 9.74% rise in CNG sales volume to 3.496 mmscmd, although industrial and commercial sales saw a decrease. The company's operational EBITDA increased by 31.74% quarter-over-quarter to ₹343 crores, and net profit after tax rose by 46.83% to ₹194 crores. MGL also expanded its network by adding 97,461 domestic PNG connections and 1 CNG station during the quarter and completed a transition to SAP S/4HANA.

- MGL declared a final dividend of ₹18 per share and an interim dividend of ₹12 per share, approved at the AGM on August 25, 2026.
- The company reported Q1 FY27 results on August 7, 2026, with overall sales volume up 7.01% year-over-year to 4.766 mmscmd.
- Q1 FY27 EBITDA from operations was ₹343 crores, a 31.74% increase from the previous quarter.
- Q1 FY27 net profit after tax was ₹194 crores, a 46.83% increase from the previous quarter.
- MGL participated in the Ashwamedh Conference on September 2, 2026, the UBS India Summit on September 11, 2026, and the BofA Asia Pacific Conference on September 21, 2026.

- Mahanagar Gas Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- MAHANAGAR GAS LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Mahanagar Gas Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- MAHANAGAR GAS LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Mahanagar Gas Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- MAHANAGAR GAS LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Mahanagar Gas Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 25, 2026. Further, the company has informed the Exchange regarding voting results. |SUBJECT: Shareholders meeting
- Mahanagar Gas Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- MAHANAGAR GAS LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Mahanagar Gas Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates

### Fundamentals

Mahanagar Gas (MGL) reported revenue from operations of ₹2,598.90 crore for Q1 FY2026-27. This represents an increase from the ₹2,267.93 crore reported in Q3 FY2025-26 and ₹2,258.90 crore in Q4 FY2025-26. Profit Before Tax (PBT) for Q1 FY2026-27 stood at ₹258.32 crore, a rise from ₹271.73 crore in Q3 FY2025-26 and ₹177.94 crore in Q4 FY2025-26. The company's finance costs remained relatively stable, reported at ₹5.93 crore in Q1 FY2026-27, compared to ₹6.40 crore in Q3 FY2025-26 and ₹4.87 crore in Q4 FY2025-26. Basic Earnings Per Share (EPS) for Q1 FY2026-27 was ₹19.54 per share, an increase from ₹13.15 per share in Q4 FY2025-26 but a decrease from ₹20.36 per share in Q3 FY2025-26. Comprehensive income for the period was ₹193.97 crore in Q1 FY2026-27, down from ₹203.04 crore in Q3 FY2025-26 and up from ₹133.71 crore in Q4 FY2025-26. The company's paid-up equity share capital remained constant at ₹98.78 crore across the reported periods.

- Mahanagar Gas reported revenue of ₹2,598.90 crore for Q1 FY2026-27.
- Profit Before Tax for Q1 FY2026-27 was ₹258.32 crore.
- Basic Earnings Per Share (EPS) in Q1 FY2026-27 was ₹19.54 per share.
- Finance costs were ₹5.93 crore in Q1 FY2026-27.
- Paid Up Value Of Equity Share Capital remained constant at ₹98.78 crore.

### Bull Case

The company's weekly technical trend shows a bullish signal, with the Supertrend indicator at 970.88. This suggests a potential upward movement in the stock price over the medium term. However, both daily and monthly trends are currently indicated as bearish, with Supertrend values at 1145.1 and 1542.88 respectively. The stock is trading below its key moving averages, including the 20-day EMA (1090.01) and 50-day SMA (1102.89) on a daily basis, and the 20-day EMA (1185.92) on a monthly basis. Recent period returns indicate a decline, with a 1-year return of -19% and a Year-to-Date return of -4%. The company's annualized volatility stands at 32%, with a current drawdown of -30%.

- Weekly Supertrend indicator is bullish at 970.88 as of 2026-09-18.
- Daily Supertrend indicator is bearish at 1145.1 as of 2026-09-18.
- Monthly Supertrend indicator is bearish at 1542.88 as of 2026-09-18.
- The 1-year return as of 2026-09-18 was -19%.
- The Year-to-Date return as of 2026-09-18 was -4%.

- Nomura sees sharp Q2 recovery for OMCs despite $100 oil; prefers IOCL, BPCL
- OMCs Lose Rs 5 Per Litre On Petrol, Rs 23 On Diesel

### Bear Case

The company's technical indicators suggest a weakening trend. Daily and monthly trends are both indicated as bearish, with the Supertrend indicator at ₹1145.1 on the daily chart and ₹1542.88 on the monthly chart. The 1-year return stands at -19%, and the year-to-date return is -4%, indicating a notable decline over these periods. The current drawdown is -30%, with a maximum drawdown of -41%, highlighting significant price depreciation from recent peaks.

- Daily Supertrend indicator is bearish at ₹1145.1 as of 2026-09-18.
- Monthly Supertrend indicator is bearish at ₹1542.88 as of 2026-09-18.
- The 1-year return was -19% as of 2026-09-18.
- The year-to-date return was -4% as of 2026-09-18.
- The current drawdown is -30%, with a maximum drawdown of -41%.

- Nomura sees sharp Q2 recovery for OMCs despite $100 oil; prefers IOCL, BPCL
- OMCs Lose Rs 5 Per Litre On Petrol, Rs 23 On Diesel

### FAQs

**What do recent technical indicators suggest about Mahanagar Gas Limited's (MGL) short-term and long-term trends?**

As of September 18, 2026, MGL's daily trend shows a bearish SuperTrend direction with the closing price of ₹1081.7 below the 20-day Exponential Moving Average (EMA) of ₹1090.01 and the 50-day EMA of ₹1101.16. The 5-day slope for both EMAs is negative. In contrast, the weekly trend indicates a bullish SuperTrend direction, with the closing price of ₹1081.7 above the 20-day EMA of ₹1108.17. However, the 5-day slope for the 20-day EMA is negative, and the 50-day Simple Moving Average (SMA) slope is also negative. The monthly trend is also bearish, with the closing price below both the 20-day EMA (₹1185.92) and 20-day SMA (₹1208.68), and a bearish SuperTrend direction.

**How has Mahanagar Gas Limited's stock performed over different periods?**

As of September 18, 2026, Mahanagar Gas Limited's stock has shown mixed performance across different timeframes. It experienced a 1% return in the last day and a 1% return over the last 10 days. However, it saw a 3% decline in the last month, an 11% decline in the last 3 months, and a 4% decline year-to-date. Over the longer term, the stock has declined by 19% in the last year and 16% since the start of its trading history.

**What are the key support and resistance levels for Mahanagar Gas Limited's stock?**

As of September 18, 2026, key technical levels for Mahanagar Gas Limited's stock include immediate resistance at ₹1086.93, followed by ₹1093.97. Further resistance is noted at ₹1128.01 and ₹1152.20. On the support side, immediate levels are identified at ₹1079.07, followed by ₹1072.03, ₹1064.17, and ₹1062.92.

**What investor and analyst events has Mahanagar Gas Limited recently announced?**

Mahanagar Gas Limited has announced its participation in several investor and analyst events. These include in-person group meetings at the BofA 2026 Asia Pacific Conference on September 21, 2026, and the UBS India Summit on September 11, 2026. The company also participated in the Ashwamedh Conference - Elara India Dialogue 2026 on September 2, 2026. These meetings are for analysts and institutional investors, with no unpublished price-sensitive information intended to be shared.

- Nomura sees sharp Q2 recovery for OMCs despite $100 oil; prefers IOCL, BPCL
- OMCs Lose Rs 5 Per Litre On Petrol, Rs 23 On Diesel
- Mahanagar Gas Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- MAHANAGAR GAS LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Mahanagar Gas Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- MAHANAGAR GAS LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Mahanagar Gas Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹1,072.03
- Risk regime: Price Risk Requires Attention

### Support levels
- 1062.925
- 1038.31875
- 1018.6

### Resistance levels
- 1128.00625
- 1152.2
- 1178.8

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.98% |
| return_10 | +1.43% |
| return_1m | -2.67% |
| return_1y | -19.35% |
| return_20 | -4.93% |
| return_3m | -10.65% |
| return_5 | -1.74% |
| return_6m | +8.13% |
| return_since_start | -15.64% |
| return_ytd | -4.11% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -41.12% |
| annualized_volatility | +31.80% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Grows 13.9%, Pre-Tax Profit Falls 40.2% as Margins Contract

Mahanagar Gas Limited reported a 13.9% year-on-year increase in revenue from operations to ₹2,598.90 crore for the quarter ended 30 June 2026. Profit before tax, however, declined 40.2% to ₹258.32 crore, pulling net profit down to ₹192.64 crore. The divergence between top-line growth and bottom-line results compressed the pre-tax profit margin from 18.9% a year earlier to 9.9% in the current quarter.

## Revenue and Profit Performance

Revenue from operations rose to ₹2,598.90 crore, up from ₹2,282.07 crore in the June 2025 quarter and ₹2,258.90 crore in the March 2026 quarter. This marks a 13.9% annual increase and a 15.1% sequential gain. 

Despite the top-line expansion, profit before tax fell from ₹432.17 crore a year ago to ₹258.32 crore. Sequentially, profit before tax improved from ₹177.94 crore in the preceding quarter, but remained well below the prior-year first-quarter level. Net profit followed the same trajectory, declining to ₹192.64 crore from ₹317.79 crore last year, while rising sequentially from ₹129.63 crore.

## Expense Profile and Margin Contraction

The current quarter’s expense structure was dominated by the cost of materials consumed, which stood at ₹1,734.25 crore, or 66.7% of revenue. Other operating expenses included depreciation, depletion and amortisation at ₹108.96 crore, employee benefit expense at ₹46.42 crore, and finance costs at ₹5.93 crore. A net inventory change provided a minor credit of ₹0.84 crore, while other income added ₹30.43 crore. 

These expense levels coincided with a sharp contraction in profitability metrics. The pre-tax profit margin fell to 9.9% of revenue, down from 18.9% in the same quarter last year. The net profit margin similarly contracted from 13.9% to 7.4%.

## Earnings Per Share and Capital Structure

Basic earnings per share dropped to ₹19.54 from ₹32.18, a 39.3% decline that aligns with the reduction in net profit. The paid-up equity share capital remained unchanged at ₹98.78 crore, meaning the per-share decline fully reflects the lower total earnings.

## Comprehensive Income

Comprehensive income for the period was ₹193.97 crore, nearly matching the reported net profit of ₹192.64 crore. The difference of ₹1.33 crore indicates that other comprehensive income items were immaterial during the quarter.

## Key Takeaway

Mahanagar Gas delivered double-digit revenue growth during the June 2026 quarter, but the top-line expansion was offset by a steep decline in profitability. Pre-tax and net profit both fell by roughly 40%, compressing the pre-tax margin to under 10%. While the quarter showed a sequential recovery from the March 2026 period, profitability remained significantly below the prior-year first quarter, with the cost of materials consumed accounting for two-thirds of total revenue.

### Ratios

## Official filings

- 2026-09-16 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_16092026165820_InvestorMeet16092026.pdf)
- 2026-09-16 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_13963_WebXMLFile_20260916_170426532.xml)
- 2026-09-07 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_07092026174237_InvestorMeet.pdf)
- 2026-09-07 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_13963_WebXMLFile_20260907_174452193.xml)
- 2026-08-26 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_26082026180309_InvestorMeet.pdf)
- 2026-08-26 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_13963_WebXMLFile_20260826_180520262.xml)
- 2026-08-26 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_26082026193640_CoveringLetter26082026.pdf)
- 2026-08-07 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_07082026185802_EarningCallTranscriptQ1FY2707082026.pdf)
- 2026-08-07 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_13963_WebXMLFile_20260807_190633805.xml)
- 2026-08-06 — Generic Announcement: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_06082026181952_InvestorMeet.pdf)
- 2026-08-06 — Generic Announcement: Mahanagar Gas Limited will participate in two investor meetings: the Goldman Sachs INDIA Energy Security & Grid Resilience Corporate Day on August 11, 2026, and the Emkay Investor Conference Confluence 2026 on August 12, 2026. Both meetings will be conducted virtually. The company will not share any unpublished price-sensitive information during these events. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_06082026181939_InvestorMeet.pdf)
- 2026-08-04 — Generic Announcement: Mahanagar Gas Limited announced the 31st Annual General Meeting will be held on August 25, 2026, via video conference. The company also published newspaper advertisements on August 4, 2026, regarding the dispatch of its Annual Report and information on e-voting and the record date. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL24_04082026155309_Newspaperad.pdf)
- 2026-08-03 — Generic Announcement: Mahanagar Gas Limited (MGL) announced its 31st Annual General Meeting (AGM) and submitted its Integrated Annual Report for FY 2025-26 on August 3, 2026. The AGM is scheduled for August 25, 2026, conducted via video conference. The report details the company's financial and operational performance, including revenue of ₹9,059.77 crore, EBITDA of ₹1,451.07 crore, and profit after tax of ₹846.82 crore for FY 2025-26. MGL also reported a total dividend of ₹30 per share for the fiscal year and deployed capital expenditure of ₹1,068.72 crore. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_03082026233836_SEIntimationAR2526.pdf)
- 2026-08-03 — Management Change: Mahanagar Gas Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_13963_WebXMLFile_20260803_234918346.xml)
- 2026-08-03 — Generic Announcement: Mahanagar Gas Limited is sending a letter to shareholders whose email addresses are not registered, providing access to the Integrated Annual Report for FY 2025-26 and the Notice of the 31st Annual General Meeting. The 31st AGM is scheduled for August 25, 2026, with a final dividend of Rs. 18 per equity share, and the record date for the dividend is August 18, 2026. E-voting will be open from August 22 to August 24, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_03082026232531_Letternonemail.pdf)
- 2026-08-03 — Generic Announcement: Mahanagar Gas Limited (MGL) has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The report details the company's ESG practices, operational footprint, employee information, and CSR activities. MGL has also reported on its grievance redressal mechanisms, noting that 91% of customer complaints were resolved in FY 2025-26, with the remainder to be closed in FY 2026-27. The company has identified material issues including energy management, asset integrity, GHG emissions, human rights, occupational health and safety, end-use safety, data security, enterprise risk management, climate adaptation, energy transition, corporate governance, and digitalization. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_03082026234914_BRSR202526.pdf)
- 2026-08-03 — Generic Announcement: Mahanagar Gas Limited has fixed August 18, 2026, as the record date for determining shareholder entitlement to the final dividend for the financial year 2025-26. The recommended dividend is Rs. 18 per equity share, subject to shareholder approval at the Annual General Meeting scheduled for August 25, 2026. If approved, the dividend will be paid within 30 days of the AGM, after tax deductions. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_03082026232139_RecordDateintimation.pdf)
- 2026-07-31 — Generic Announcement: Mahanagar Gas Limited (MGL) released an investor presentation on July 31, 2026, detailing its financial results and operational performance for the quarter ended June 30, 2026. The presentation includes standalone financial highlights such as a net revenue of ₹2,371.71 crore and a profit after tax (PAT) of ₹193.70 crore for Q1 FY26. It also provides operational metrics, including gas sales revenues, gas costs, and EBITDA per SCM, alongside volume data for different customer segments and infrastructure details like pipeline length and CNG stations. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_31072026152146_EarningConferenceCallQ1FY2627Presentation.pdf)
- 2026-07-31 — Generic Announcement: Mahanagar Gas Limited published newspaper advertisements on July 31, 2026, in The Financial Express and Loksatta regarding its 31st Annual General Meeting (AGM) scheduled for August 25, 2026. The AGM will be conducted via video conferencing and other audio-visual means, and details will also be available on the company's website. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_31072026201148_Newspaperad-pre-Covering_letter.pdf)
- 2026-07-31 — Official Filing: Mahanagar Gas Limited has disclosed an audio recording of its Q1 FY27 earnings call, which took place on July 31, 2026. The recording was uploaded to the company's website on the same date at 18:37:00. Prior intimation of the earnings call was provided to the exchange on July 27, 2026.
- 2026-07-31 — Generic Announcement: Mahanagar Gas Limited has submitted a link to the audio recording of its earnings conference call held on July 31, 2026. The call discussed the company's unaudited standalone and consolidated financial results and operational performance for the quarter ended June 30, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_31072026200004_EarningConferenceCallQ1FY2627audiorecording.pdf)
- 2026-07-30 — Generic Announcement: Mahanagar Gas Limited's Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, on July 30, 2026. The company reported total income of ₹2,628.26 crore and profit after tax of ₹131.92 crore for the standalone entity. For the consolidated entity, total income was ₹2,629.33 crore and profit after tax was ₹192.64 crore. The company also disclosed ongoing legal matters concerning transportation tariffs and GST liabilities, with no provision recognized due to a belief in a strong case and no expected outflow of resources. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_30072026135400_OutcomeResults30092026.pdf)
- 2026-07-27 — Generic Announcement: Mahanagar Gas Limited will hold an earnings conference call on Friday, July 31, 2026, at 04:30 PM IST to discuss the company's financial and operational performance for the quarter ended June 30, 2026. The call will include participation from the Managing Director, Deputy Managing Director, and Chief Financial Officer. — [Official attachment](https://nsearchives.nseindia.com/corporate/MGL25_27072026193533_EarningsCallIntimation31072026.pdf)
- 2026-07-27 — Official Filing: Mahanagar Gas Limited will hold an Earnings Conference Call for the quarter ended June 30, 2026, on July 31, 2026, at 16:30 IST. The virtual meeting will cover Q1 results and will be accessible via call. Contact Swarnendu Bhushan for details.
- 2026-07-24 — Official Filing: Mahanagar Gas Limited will hold a board meeting on July 30, 2026, to consider unaudited standalone and consolidated financial results for the quarter ended June 2026. The trading window for the company's securities will be closed from July 1, 2026, to August 1, 2026.

## News and market events

- 2026-09-16 — MONEYCONTROL: **Nomura sees sharp Q2 recovery for OMCs despite $100 oil; prefers IOCL, BPCL** — Nomura, IOCL, BPCL, HPCL, Hindustan Oil share price, BPCL stock today, Oil prices, Us-Iran war, brent crude — [Source](https://www.moneycontrol.com/news/business/stocks/nomura-sees-sharp-q2-recovery-for-omcs-despite-100-oil-prefers-iocl-bpcl-14030946.html)
- 2026-09-12 — REDIFF.COM: **OMCs Lose Rs 5 Per Litre On Petrol, Rs 23 On Diesel** — 'If crude remains above $100 per barrel, with restricted retail-price increases, OMCs could face negative petrol and diesel marketing margins, higher LPG under-recoveries, higher crude-landing, freight and insurance costs, working capital and debt accumulation and inventory losses if crude subsequently corrects sharply.' — [Source](https://www.rediff.com/business/report/omcs-lose-rs-5-per-litre-on-petrol-rs-23-on-diesel/20260912.htm)
- 2026-09-10 — BUSINESSTODAY: **LPG, CNG, PNG prices today (September 10): Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/latest/economy/story/lpg-cng-png-prices-today-september-10-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-554437-2026-09-10)
- 2026-09-09 — BUSINESSTODAY: **LPG, CNG, PNG prices today (September 9): Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/latest/economy/story/lpg-cng-png-prices-today-september-9-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-554123-2026-09-09)
- 2026-09-08 — BUSINESSTODAY: **LPG, CNG, PNG prices today (September 8): Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/latest/economy/story/lpg-cng-png-prices-today-september-8-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-553814-2026-09-08)
- 2026-09-07 — BUSINESSTODAY: **LPG, CNG, PNG prices today (September 7): Check latest rates in Delhi, Mumbai, Kolkata, other cities** — pg price, cng price, png price, lpg cng png price 7 September, lpg india price, cng india price, png india price, lpg cng png india price 7 September, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/latest/economy/story/lpg-cng-png-prices-today-september-7-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-553531-2026-09-07)
- 2026-09-06 — REDIFF.COM: **Triple whammy for Mumbaikars: Milk, CNG, taxi-auto fares rise** — Mumbaikars are set to face a significant financial burden as the prices of milk, CNG, and taxi-rickshaw fares have all seen a substantial increase from September 1, 2026, impacting household budgets ahead of the crucial festive season. — [Source](https://www.rediff.com/news/report/triple-whammy-for-mumbaikars-milk-cng-taxi-auto-fares-rise/20260901.htm)
- 2026-09-06 — BUSINESSTODAY: **LPG, CNG, PNG prices today (September 6): Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/latest/economy/story/lpg-cng-png-prices-today-september-6-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-553476-2026-09-06)
- 2026-09-05 — BUSINESSTODAY: **LPG, CNG, PNG prices today (September 5): Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/latest/economy/story/lpg-cng-png-prices-today-september-5-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-553407-2026-09-05)
- 2026-09-04 — BUSINESSTODAY: **LPG, CNG, PNG prices today, September 4: Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/latest/economy/story/lpg-cng-png-prices-today-september-4-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-553303-2026-09-04)
- 2026-09-03 — BUSINESSTODAY: **LPG, CNG, PNG prices today (September 3): Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/india/story/lpg-cng-png-prices-today-september-3-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-553013-2026-09-03)
- 2026-09-01 — FREEPRESSJOURNAL.IN: **Mumbai Taxi, Auto Fare Hike Offset By ₹2 CNG Price Rise On Same Day; Drivers Say Benefit Eroded** — Mumbai taxi and autorickshaw drivers say the benefit of revised fares has been eroded after MGL raised CNG prices by Rs 2 per kg to Rs 88 on the same day. Taxi and auto unions called the fare increases inadequate, citing rising fuel, maintenance and repair costs and delays in implementing the revision. — [Source](https://www.freepressjournal.in/mumbai/mumbai-taxi-auto-fare-hike-offset-by-2-cng-price-rise-on-same-day-drivers-say-benefit-eroded)
- 2026-09-01 — Orissa POST: **ATF price hiked 5.46%, commercial LPG cylinders costlier by Rs 9.50 - OrissaPOST** — New Delhi: State-owned oil marketing companies (OMCs) have hiked the prices of 19-kg commercial LPG cylinders by Rs 9.50, while aviation turbine fuel (ATF) prices for domestic airlines have risen 5.46 per cent or Rs 6.28 per litre, effective from Tuesday. The price of ATF has been raised from Rs 115 per litre to Rs […] — [Source](https://www.orissapost.com/atf-price-hiked-5-46-commercial-lpg-cylinders-costlier-by-rs-9-50)
- 2026-09-01 — CNBC-TV18: **Mahanagar Gas follows IGL, hikes Mumbai CNG price by ₹2 per kg; Stock in focus** — Similar to its peer IGL, Mahanagar Gas also attributed the need to increase prices of CNG in Mumbai due to the ongoing crisis in West Asia. — [Source](https://www.cnbctv18.com/market/mahanagar-gas-mgl-cng-price-hike-in-mumbai-new-rates-margins-west-asia-share-price-19980995.htm)
- 2026-09-01 — BUSINESSTODAY: **LPG, CNG, PNG prices today, September 1: Check latest rates in Delhi, Mumbai, Kolkata, other cities** — lpg price, cng price, png price, lpg cng png price, lpg india price, cng india price, png india price, lpg cng png india price, lpg price in india, cng price in india, png price in india, lpg cng png price in india, gas price, gas price india, gas price in india, cooking gas cylinder price, cooking gas cylinder price india, cooking gas cylinder price in india, lpg price near me, cng price near me, png price near me, lpg cng png price near me, lpg price in delhi, cng price in delhi, png price in delhi, lpg cng png price in delhi, lpg price in mumbai, cng price in mumbai, png price in mumbai, lpg cng png price in mumbai, lpg price in chennai, cng price in chennai, png price in chennai, lpg cng png price in chennai, lpg price in kolkata, cng price in kolkata, png price in kolkata, lpg cng png price in Kolkata, cooking gas cylinder price in delhi, cooking gas cylinder price in mumbai, cooking gas cylinder price in chennai, cooking gas cylinder price in kolkata — [Source](https://www.businesstoday.in/india/story/lpg-cng-png-prices-today-september-1-check-latest-rates-in-delhi-mumbai-kolkata-other-cities-552425-2026-09-01)
- 2026-09-01 — The Hindu: **Mahanagar Gas CNG price rises to ₹88 per kg in Mumbai from September 1** — Mahanagar Gas hikes CNG price by ₹2 to ₹88 per kg and domestic PNG by ₹1 per SCM from September 1, citing higher input gas costs. — [Source](https://www.thehindubusinessline.com/markets/commodities/mahanagar-gas-hikes-cng-price-by-2-png-by-1/article71413441.ece)
- 2026-08-31 — Times of India: **CNG price up by Rs 2/kg, piped gas Rs 1/unit across MMR from today** — CNG prices in Mumbai metropolitan region rise Rs 2/kg to Rs 88 and piped cooking gas to Rs 53/unit from Sep 1, impacting commuters and 31 lakh homes. — [Source](https://timesofindia.indiatimes.com/city/mumbai/cng-price-up-by-rs-2/kg-piped-gas-rs-1/unit-across-mmr-from-today/articleshow/133660499.cms)
- 2026-08-31 — MONEYCONTROL: **Mumbai auto, taxi fares to rise from September 1; check new minimum rates** — Mumbai, Mumbai News, Mumbai Local Transport, Auto Fare Hike, Taxi Fare Hike, Mumbai Auto Rickshaw, Mumbai Taxi, MMR, Maharashtra Transport Department, Navi Mumbai, Thane, Kalyan, Mira-Bhayander, Fare Hike, CNG Prices — [Source](https://www.moneycontrol.com/city/mumbai-auto-taxi-fares-to-rise-from-september-1-check-new-minimum-rates-article-14019112.html)
- 2026-08-31 — MONEYCONTROL: **IGL stock jumps over 2% after CNG price hike; Citi sees 22% upside, but margin pressure may persist** — igl share price today, igl share price target, igl stock update, igl stock rating, igl stock outlook, igl gas price hike, delhi gas price hike — [Source](https://www.moneycontrol.com/news/business/markets/igl-stock-jumps-over-2-after-cng-price-hike-citi-sees-22-upside-but-margin-pressure-may-persist-14018749.html)
- 2026-08-21 — Mint: **For city gas distributors, policy support is short-term relief, at best** — A new government scheme could lift margins for city gas distributors, but the benefit is one-off as high gas costs and policy uncertainty continue to weigh on the sector. — [Source](https://www.livemint.com/market/mark-to-market/for-city-gas-distributors-policy-support-is-short-term-relief-at-best-11787289999889.html)
- 2026-08-20 — MONEYCONTROL: **MGL set to gain most from new APM gas incentive; IGL, Gujarat Energy also benefit: Nomura** — Indraprastha Gas, Mahanagar Gas, Gujarat Energy, Nomura — [Source](https://www.moneycontrol.com/news/business/stocks/mgl-set-to-gain-most-from-new-apm-gas-incentive-igl-gujarat-energy-also-benefit-nomura-14011061.html)
- 2026-08-19 — The Hindu: **Sensex, Nifty fall for 7th straight session as rising crude oil prices weigh on sentiment** — Nifty IT becomes sole gainer sectorally, rising 0.4% and snapping a four-day losing streak on value buying and domestic capital rotation — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty-fall-for-7th-straight-session-as-rising-crude-oil-prices-impact-market-sentiment/article71364787.ece)
- 2026-08-19 — Economic Times: **IGL, MGL, Adani Total Gas shares rally up to 6% as govt boosts domestic PNG push** — City gas distributor stocks rallied after the government approved an incentive scheme to accelerate domestic PNG connections from September 1. Mahanagar Gas, IGL, Adani Total Gas rose as the scheme aims to expand active piped gas connections and promote cleaner, safer and affordable cooking fuel. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/igl-mgl-adani-total-gas-shares-rally-up-to-6-as-govt-boosts-domestic-png-push/articleshow/133339597.cms)
- 2026-08-19 — Mint: **IGL, MGL to Adani Total Gas: City gas distributor stocks rise up to 4%; here's why** — The rally in the stocks came in after the government cleared an incentive scheme to boost domestic piped natural gas (PNG) connections. — [Source](https://www.livemint.com/market/stock-market-news/igl-mgl-to-adani-total-gas-city-gas-distributor-stocks-rise-up-to-4-heres-why-11787117125898.html)
- 2026-08-19 — CNBC-TV18: **Explained - Why IGL, MGL, Adani Total Gas shares gained over 5% on Wednesday** — In an interaction with CNBC-TV18 on Wednesday, Probal Sen of ICICI Securities said that the additional APM gas allocation will be beneficial for both IGL and MGL. He anticipates this move to result in a 50% jump in gas production. — [Source](https://www.cnbctv18.com/market/igl-mgl-adani-total-gas-gujarat-energy-share-price-key-reasons-why-these-stocks-are-up-on-wednesday-gas-19972416.htm)

## Business profile

**Strategic vision:** Distributes natural gas for vehicles and establishments.

### Business segments
- **Compressed Natural Gas (CNG):** Supplied as fuel for vehicles, catering to cars, two-wheelers, taxis, auto-rickshaws, and buses.
- **Piped Natural Gas (PNG):** Distributed for residential, small commercial, and industrial establishments.

### Competitive strengths
- Operates in the city gas distribution business serving specific regions.
- Focuses on providing natural gas solutions.

## Related stocks

- [ABB (Energy)](https://faxioms.com/stocks/abb) — +1.42%
- [ADANIENSOL (Energy)](https://faxioms.com/stocks/adaniensol) — +2.90%
- [ADANIGREEN (Energy)](https://faxioms.com/stocks/adanigreen) — +3.31%
- [ADANIPOWER (Energy)](https://faxioms.com/stocks/adanipower) — +1.25%
- [AEGISLOG (Energy)](https://faxioms.com/stocks/aegislog) — +4.49%

## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/mgl
Markdown representation: https://faxioms.com/stocks/mgl?render=md