NSE: MGL | BSE: 539957

Falling Comet

Download real time

1214.60 -15.50 (-1.26%)

141.2K NSE+BSE Volume

NSE 21 Nov, 2025 3:31 PM (IST)

11,997.6

Market Cap

Above industry Median

1.3

Beta 1Year

Very High Volatility

Mahanagar Gas Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MGL, BSE:539957 Mahanagar Gas Ltd.

Search Inside the pdf :

Mahanagar Gas Ltd.

31 Oct 2025

1214.60

-1.26%

Result Update:Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Axis Direct

We maintain our BUY recommendation on the stock.

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

31 Oct 2025

1214.60

-1.26%

Volume remains strong; multiple factors drive weakest margin in 13 quarters

Buy: Mahanagar Gas Ltd.

Target

ICICI Securities Limited

Mahanagar Gas (MGL) delivered volume growth with a 9% YoY jump in volume to 4.6mmscmd, including UEPL. However, sharply lower APM allocation, INR depreciation and higher spot LNG drove EBITDA/scm to a 13-quarter low.

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

30 Oct 2025

1214.60

-1.26%

Mahanagar Gas (MAHGL IN) Q2FY26 Result Update Strong...

Buy: Mahanagar Gas Ltd.

Recommendation Target

Prabhudas Lilladhar

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

26 Sep 2025

1214.60

-1.26%

Ahead in volume growth, sustaining resilient margins

Buy: Mahanagar Gas Ltd.

Motilal Oswal

MAHGL is set to deliver robust earnings growth, driven by aggressive CNG network expansion, improving throughput at existing stations, and strategic land tie-ups that strengthen long-term visibility.

Number of FII/FPI investors decreased from 366 to 343 in Sep 2025 qtr

Mahanagar Gas Ltd.

04 Sep 2025

1214.60

-1.26%

Initiating Coverage:Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Axis Direct

We initiate coverage on Mahanagar Gas Limited (MGL) with a BUY recommendation and a target price of Rs 1,540/share, implying a potential upside of 20% from the current market price (CMP)

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

31 Jul 2025

1214.60

-1.26%

MAHANAGAR GAS LIMITED

Sell: Mahanagar Gas Ltd.

Recommendation Target

Geojit BNP Paribas

MGL delivered a steady performance, driven by its robust infrastructure network, strong customer base and a reliable, albeit costlier, gas sourcing strategy. However, looking ahead, we expect MGL's focus on expanding its footprint in newly acquired geographical areas to come at the behest of discounts as it tries to balance lost volumes due to faster EV adoption and declining institutional demand. Additionally, we also factor in the management's reduced margin guidance and unpredictability in APM and new well gas allocations. Further pass-through of cost increases could be...

Mahanagar Gas Ltd. has an average target of 1543.67 from 6 brokers.

Mahanagar Gas Ltd.

23 Jul 2025

1214.60

-1.26%

FY26 margin and volume guidance moderated

Buy: Mahanagar Gas Ltd.

Target

Motilal Oswal

Mahanagar Gas (MAHGL)’s 1QFY26 adj. EBITDA margin of INR9.7/scm was below our est. of INR10.6/scm (reported EBITDA: INR12.9/scm).

Mahanagar Gas Ltd. has an average target of 1543.67 from 6 brokers.

Mahanagar Gas Ltd.

23 Jul 2025

1214.60

-1.26%

Mahanagar Gas (MAHGL IN) Q1FY26 Result Update Strong...

Accumulate: Mahanagar Gas Ltd.

Target

Prabhudas Lilladhar

As a result of relaxation in pricing terms for industrials combined with incentives for goods carriers taken a few quarters back, MAHGL continued its stellar volume growth at 9.6% in Q1FY26. Adj EBITDA/scm stood at Rs9.7. As a result, Adjusted EBITDA stood at Rs3.7bn (Ple/BBGe Rs4bn, -11% YoY and +18% QoQ). Adjusted PAT stood at Rs2.4bn (Ple Rs2.8bn, BBGe Rs2.6bn, -9% YoY and +6.8% QoQ). We believe that the volume momentum is likely to sustain, especially due to strong pick up in GA3, momentum in CNG adoption by goods...

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

08 Jun 2025

1214.60

-1.26%

Volume growth and margin outlook remain intact

Buy: Mahanagar Gas Ltd.

Target

Motilal Oswal

Valuations inexpensive: Over the last eight months, MAHGL’s share price has corrected ~30%, with the stock now trading at 11x FY27E P/E.

Mahanagar Gas Ltd. is trading below all available SMAs

Mahanagar Gas Ltd.

08 May 2025

1214.60

-1.26%

Some miss on higher opex; volume growth healthy

Buy: Mahanagar Gas Ltd.

Target

Emkay

MGL’s Q4FY25 SA adj EBITDA/APAT of Rs3.2/2.1bn missed our estimates by 5%/6% due to 5% higher unit opex. EBITDA/scm of Rs8.3 was hence 5% below estimate and flat QoQ.

Mahanagar Gas Ltd. has an average target of 1543.67 from 6 brokers.

Is Mahanagar Gas Ltd. worth buying?

524 Votes:

Buy 86.45%

Sell 7.82%

Hold 5.73%

RESEARCH REPORTS

Buy SEE REPORTS >

pdf

Buy SEE REPORTS >

pdf