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Mahanagar Gas Ltd.

BSE: 539957 Sector: Others
NSE: MGL ISIN Code: INE002S01010
BSE LIVE 15:40 | 15 Dec 1104.10 6.50
(0.59%)
OPEN

1107.95

HIGH

1113.00

LOW

1100.00

NSE 15:50 | 15 Dec 1103.05 6.70
(0.61%)
OPEN

1106.00

HIGH

1116.20

LOW

1098.45

OPEN 1107.95
PREVIOUS CLOSE 1097.60
VOLUME 7916
52-Week high 1345.00
52-Week low 746.50
P/E 24.37
Mkt Cap.(Rs cr) 10,906
Buy Price 1104.10
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1107.95
CLOSE 1097.60
VOLUME 7916
52-Week high 1345.00
52-Week low 746.50
P/E 24.37
Mkt Cap.(Rs cr) 10,906
Buy Price 1104.10
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00

Mahanagar Gas Ltd. (MGL) - Company History

Mahanagar Gas Limited (MGL) supplies piped and compressed natural gas to household small industrial and commercial customers in Mumbai India. Mahanagar Gas Limited (MGL) a pioneering initiative to bring clean safe efficient and affordable Piped Natural Gas direct to over 600000 homes in Mumbai. The company also operates a network of 100 Compressed Natural Gas (CNG) filling stations that provide fuel for over 50000 taxis about 100000 auto-rickshaws and hundreds of buses. Mahanagar Gas Ltd. is based in Mumbai IndiaMahanagar 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. It supplies gas through its distribution network to various suburbs of Mumbai including Dadar to Dahisar from Sion to Mulund and Thane and Mira Bhayander area.. During the year 2002-2003 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 392000 Kgs/per day and 192 Nos from 152000 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 2004-2005 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 2005-2006 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 2006-2007 the company added 39000 consumers which includes around 100 commercial and industrial consumers. During the same year the company commenced Thane-Vashi-Belapur (TVB) pipeline laying activities. In March 2007 the company commissioned PNG supply in South Mumbai. During the year 2007-2008 the company commenced CNG operations in the Navi Mumbai municipal area by opening a daughter-booster CNG station. During the same year the company increased MGL's 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 2008-2009 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. The company has the plan to invest Rs 15 billion in the next five years for the second phase of piped natural gas distribution in the city. Also it is expanding its city gas distribution activities and will set up 21 more CNG outlets in Mumbai.