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Mahanagar Gas Ltd.

BSE: 539957 Sector: Others
NSE: MGL ISIN Code: INE002S01010
BSE 00:00 | 24 Jan 1181.00 1.40
(0.12%)
OPEN

1186.45

HIGH

1198.40

LOW

1176.00

NSE 00:00 | 24 Jan 1181.55 1.80
(0.15%)
OPEN

1181.95

HIGH

1198.00

LOW

1175.10

OPEN 1186.45
PREVIOUS CLOSE 1179.60
VOLUME 95987
52-Week high 1198.40
52-Week low 754.70
P/E 16.14
Mkt Cap.(Rs cr) 11,666
Buy Price 1181.00
Buy Qty 1.00
Sell Price 1181.00
Sell Qty 3.00
OPEN 1186.45
CLOSE 1179.60
VOLUME 95987
52-Week high 1198.40
52-Week low 754.70
P/E 16.14
Mkt Cap.(Rs cr) 11,666
Buy Price 1181.00
Buy Qty 1.00
Sell Price 1181.00
Sell Qty 3.00

Mahanagar Gas Ltd. (MGL) - Company History

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. As at March 31 2017 it supplied CNG to over 545505 vehicles through network of 203 CNG filling stations. It also provided PNG connections to over 948892 domestic households over 3218 commercial and 62 industrial consumers in Mumbai and its adjoining areas. MGL distributes natural gas through an extensive CGD network of pipelines. As of March 31 2017 it had a supply network of over 4838 kms of pipelines including approximately 4417 kms of polyethylene (medium and low pressure) pipelines and 421 kms of steel 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 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. During the year the company completed laying 2000 km of Polyethylene pipeline in Greater Mumbai Geographic Area 1 (GA 1).In 2010-11 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 2011-12 the company commissioned 150th CNG dispensing station. In 2012-13 the company completed laying more than 350 km of Polyethylene pipeline and 350 km of steel pipelines. In 2013-14 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 two-wheelers 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 announced that it has started operations in Raigad district in Maharashtra with its first CNG filling station at Karjat. Targeted at Karjat and adjoining areas the station will attract existing CNG vehicles and encourage others to convert to the environmental friendly fuel.On 5 June 2017 Mahanagar Gas Limited inaugurated Piped Natural Gas (PNG) supply in Uran in Raigad district in Maharashtra. Targeted at the residents of Uran region MGL has already laid down an infrastructure of Steel and Polyethylene pipeline in the area and will be connecting various areas of Raigad in phases for piped gas supply.During 2017-18 the net worth of the company crossed Rs 2000 crore mark.