Mahanagar Gas Ltd Share Price – NSE /  BSE

Gas Distribution, Small Cap

Mahanagar Gas has completed investment in 43,71,065 no. of equity shares of International Battery Company India (IBC India) on 03 February 2025 and consequently, the Company holds 44% of the paid-up equity share capital along with voting rights of IBC India.

IBC India was incorporated to carry on the business of undertaking manufacturing, promotion, marketing, distribution, sale and export of the battery cells.

Upon the investment, IBC India has become an associate of the Company.

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EBIDTA declined by 29.9% YoY to Rs 314.42 crore during the period under review. EBIDTA margin for Q3 FY25 was 17.89% as against 28.60% in Q3 FY24.

Total sales volume for the December’24 quarter was 378.69 SCM million, 12.1% YoY. For the period under review, CNG sales volume added up to 268.56 SCM million (up 10.9% YoY) and PNG sales aggregated to 110.13 SCM million (up 15.3% YoY).

Mahanagar Gas is in the business of city gas distribution (CGD), presently distribution of natural gas for domestic industrial, commercial customers and CNG vehicles.

The scrip shed 0.03% to currently trade at Rs 1277.40 on the BSE.

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Mahanagar Gas announced that the Board of Directors of the Company at its meeting held on 28 January 2025, inter alia, have recommended the interim dividend of Rs 12 per equity Share (i.e. 120%) , subject to the approval of the shareholders.

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Net profit of Mahanagar Gas declined 30.25% to Rs 221.24 crore in the quarter ended December 2024 as against Rs 317.18 crore during the previous quarter ended December 2023. Sales rose 17.76% to Rs 1847.41 crore in the quarter ended December 2024 as against Rs 1568.76 crore during the previous quarter ended December 2023.

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