Mahanagar Gas Share Price

Mahanagar Gas Limited (MGL) is one of the largest city gas distribution (CGD) companies in India. MGL is the sole authorised distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane urban and adjoining municipalities and the Raigad district in the state of Maharashtra, India. The company distributes CNG for use in motor vehicles and PNG for domestic household as well as for commercial and industrial use. MGL distributes natural gas through an extensive CGD network of pipelines.Mahanagar Gas Limited (MGL) was incorporated in 1995, a joint venture between the Gas Authority of India Limited (GAIL), the BG Group UK (formerly British Gas), and the Government of Maharashtra. During the year 20022003, the company expanded the Compressed Natural Gas (CNG) distribution network across the city of Mumbai and in the same year, the company set up additional 45 CNG outlets. During the same year, the company increased the compression capacity and dispensing to the level of 392,000 Kgs/per day and 192 Nos from 152,000 Kgs/per day 78 Nos respectively. During the same year, the company completed the construction work of MGL house at Bandra Kurla Complex and modernization of operational office at City Gate Station at Sion.During the year 20042005, the company the set up a dedicated in house call center to provide a single window to consumers for redressal of their complaints and to resolve their queries. During the year 20052006, the company laid 2062 Kms of PE and Steel pipelines. It set up 122 CNG stations to meet the requirements of vehicular fuels, in which 8 CNG stations were set up in Thane and Mira Road. During the year 20062007, the company added 39,000 consumers, which includes around 100 commercial and industrial consumers. During the same year, the company commenced ThaneVashiBelapur (TVB) pipeline laying activities. In March 2007, the company commissioned PNG supply in South Mumbai. During the year 20072008, the company commenced CNG operations in the Navi Mumbai municipal area by opening a daughterbooster CNG station. During the same year, the company increased MGLs share of gas allocation from 1.37 MMSCMD to 1.62 MMSCMD and in the same year, the company supplemental agreement signed with B.E.S.T. for supplying CNG to their MIDI buses at CNG outlets other than B.E.S.T. depots. During the year 20082009, the company executed the Memorandum of Understanding between MGL and MSRTC for a period of 20 years for setting up CNG facility at MSRTC Kurla depot. During the same year, the company signed with NMMT Sale and Supply Agreement, valid for period of 20 years. During the year, the company completed laying 2,000 km of Polyethylene pipeline in Greater Mumbai Geographic Area 1 (GA 1).In 201011, Mahanagar Gas completed laying 200 km of steel pipeline in GA 1 in Greater Mumbai and achieved a customer base of 0.5 million domestic customers. In 201112, the company commissioned 150th CNG dispensing station. In 201213, the company completed laying more than 350 km of Polyethylene pipeline and 350 km of steel pipelines. In 201314, the company achieved a customer base of 1 million customers.Mahanagar Gas Limited (MGL) was listed on the bourses on 1 July 2016. The stock debuted at Rs 540 on BSE, a 28.26% premium to issue price of Rs 421.On 1 January 2017, Mahanagar Gas Limited (MGL) in association with M/s Eco Fuel (Indian Partners of Lovato, Italy) launched CNG fueled twowheelers in Mumbai. On 24 April 2017, Mahanagar Gas Limited announced that it has crossed the 200th CNG station mark in Mumbai Metropolitan Region.On 18 May 2017, Mahanagar Gas Limited started commercial operations of CNG filling station in Raigad district in Maharashtra. On 5 June 2017, Mahanagar Gas Limited opened Piped Natural Gas (PNG) supply in Uran, Maharashtra. During 201718, the Company added 20 new CNG stations and upgraded 14 existing stations, which led to an increase in compression capacity by around 3.45 lakhs kg per day. It expanded its network in Raigad by operating about 5 CNG stations. It commissioned the high capacity composite cylinder Type3 cascade for CNG transport vehicles.As of March 31, 2017, it had a supply network of over 4,838 kms of pipelines, including approximately 4,417 kms of polyethylene (medium and low pressure) pipelines and 421 kms of steel pipelines.As at March 31, 2017, it supplied CNG to over 5,45,505 vehicles through network of 203 CNG filling stations. It also provided PNG connections to over 9,48,892 domestic households, over 3,218 commercial and 62 industrial consumers in Mumbai and its adjoining areas.The stake of BG Asia Pacific Holdings Pte Limited (one of the promoter of the Company) reduced to 24% through sale of shares by them in April, 2018.During the year 201819, BG Asia Pacific Holdings Pte. Limited, one of the Promoter of Company sold its partial stake in the Company in two tranches viz. 8.50% on April 11, 2018 and 14% on August 23, 2018 and thereby reduced its stake from 32.50% to 10% as at the end of Financial Year 201819. The Company commenced construction of gas pipeline of about 13,500 km length across the country in 201819. As of March 31, 2019, it had a supply network of over 436.65 kms of steel pipelines, over 4,873.223 kms of polyethylene pipeline and over 236 CNG filling stations having more than 1,382 dispensing points. The Company expanded its network in Raigad by operating10 CNG stations. It added 18 new CNG stations and upgraded 33 existing stations, which led to an increase in compression capacityby around 3.176 lakhs kg per day.As of March 31, 2020, the Company had a supply network of over 476 kms of steel pipelines, over 5154 kms of polyethylene pipeline and 256 CNG filling stations with more than 1511 dispensing points. It expanded its network in Raigad with 14 CNG stations. In 202021, the Company expanded its network in Raigad by opening 18 CNG stations. In 202122, it introduced 24 new CNG stations and upgraded 26 CNG stations. It installed 305 kms of steel and PE pipelines. It commissioned an Electric Vehicle (EV) charging facility at the CNG station at CGS, Sion on 9th February 2022. It commenced gas supply of 6000 MMBTUD from 16th December 2021. It commissioned the first Online CNG station in GAIII for M/s. Sarveshwari Petroleum, Somatane (HPCL) commissioned First Composite Dispensing Unit in India M/s. Trimurti Pump Service Station, Ajivali (HPCL). It expanded the network in Raigad with 23 CNG stations. In 202223, the Company commissioned First City Gate Station (CGS) at Savroli in Raigad, Maharashtra. Gas pipeline 314 Km was added in FY 2023.