Mahanagar Gas Share Price Live

History

Mahanagar Gas Limited (MGL) stands as a major city gas distribution company in India, exclusively providing compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane, and neighbouring areas in Maharashtra. Let’s take a journey through its history and growth.

Established in 1995, MGL is a collaboration between the Gas Authority of India Limited (GAIL), BG Group UK (formerly British Gas), and the Government of Maharashtra. Initially focusing on expanding its CNG distribution network in Mumbai in 2002-2003, MGL set up more CNG outlets and increased its compression capacity.

Over the years, MGL has made significant strides. In 2004-2005, a dedicated call centre was introduced for consumer assistance. The company continued expanding its pipeline network, reaching milestones like laying 2062 km of PE and steel pipelines in 2005-2006.

In 2007-2008, MGL extended its CNG operations in Navi Mumbai and increased its gas allocation share. Partnerships were forged, like the one with B.E.S.T. for CNG supply to their buses. The company signed agreements, such as the one with MSRTC for a CNG facility at their Kurla depot in 2008-2009.

In 2010-11, MGL achieved significant milestones, laying 200 km of steel pipeline and reaching half a million domestic customers in Greater Mumbai. The company continued to expand its pipeline network and customer base in the following years.

MGL went public in 2016, marking a new chapter. In 2017, it ventured into CNG-fueled two-wheelers and crossed the 200th CNG station mark. Operations extended to Raigad district, and PNG supply was initiated in Uran, Maharashtra.

In subsequent years, MGL consistently added new CNG stations, upgraded existing ones, and expanded its pipeline network. The company diversified, introducing an electric vehicle (EV) charging facility and supplying 6,000 MMBTUD in December 2021.

As of March 2023, Mahanagar Gas Limited marked a significant milestone with the inauguration of its 300th CNG station, an extensive pipeline network exceeding 6500 km, and the establishment of the 5th City Gate Station (CGS) and the first LNG Station at Savroli in Raigad district.

Business Segments

Mahanagar Gas Limited (MGL) operates in several business segments, catering to diverse customer needs across its geographical areas:

1. Domestic Piped Natural Gas (D-PNG): MGL has provided connectivity to over 21 lakh households for their domestic needs, primarily in cooking and heating, with plans to add around 3 lakh more households. The company’s D-PNG connectivity is one of the highest among City Gas Distribution (CGD) companies in India.
2. Industrial and Commercial: MGL supplies PNG to 4500+ commercial and industrial establishments, including restaurants, hotels, healthcare centres, and small to medium industries. This has significantly reduced emissions as these establishments transitioned from solid and liquid fuels to natural gas.
3. Automotive segment (CNG): MGL has set up a network of more than 300 CNG stations, ensuring easy and reliable availability of CNG. Over 9 lakh vehicles, including buses from transport undertakings like BEST, TMT, and NMMT, currently run on CNG. The company is actively working with MSRTC to convert 1000 buses to CNG in the next two years and aims to expand the CNG station network by 200 stations in the next five years.
4. Automotive segment (LNG): MGL has ventured into LNG for large commercial vehicles, setting up its first LNG station at Savroli, strategically located for truckers off the Mumbai-Pune expressway.
5. Automotive segment (EV): Recognising the rise of electric vehicles, MGL installed its first EV charging station at City Gate Station, Sion, Mumbai, in collaboration with Tata Power Company Limited.
6. Automotive segment (CDU): To overcome land scarcity issues in Mumbai and expedite the opening of CNG outlets, MGL introduced Composite Dispensing Units (CDU), which are CNG stations on wheels. Following a successful trial run in Panvel, Raigad, MGL aims to roll out more CDU facilities in congested areas where land availability is a constraint.

Key Personnel 

Mr. Sandeep Kumar Gupta, Chairman

Mr. Sandeep Kumar Gupta assumed the role of Director and Chairman at Mahanagar Gas Limited on October 31, 2023. With a background in finance and extensive experience in the natural gas sector, he held the position of Director (Finance) at Indian Oil Corporation Limited before joining GAIL in October 2022. Mr. Gupta also holds key positions in various organisations, including Chairman of GAIL Gas Limited, Brahmaputra Cracker and Polymer Limited, and Director of Petronet LNG Limited. Additionally, he serves as the Standing Conference of Public Enterprises (SCOPE) Chairman.

Management Outlook

• With a shared commitment to sustainability and cleaner fuel, the rising demand for CNG is anticipated, fueled by a surge in Original Equipment Manufacturers (OEMs) introducing more CNG variants in both passenger and commercial vehicle segments. 
• Additionally, accelerated infrastructure development and urbanisation in Thane and Raigad regions are expected to propel natural gas demand further, presenting favourable growth prospects for MGL.
• MGL showcases expertise in engineering, planning, and infrastructure development, evident in the successful laying of 314 km of pipelines (PE and Steel) in the current year, bringing the cumulative pipeline length to an impressive 6,535 km.