Mahanagar Gas Limited is a company that distributes natural gas in India for various applications. Here is a closer look at the company's history, share price, and financial reports.
Mahanagar Gas Limited is an Indian natural gas distribution company based in Mumbai, India. It is responsible for distributing natural gas in Mumbai and adjoining areas for various domestic, commercial, and industrial applications.
Market Capitalisation
As of August 31, 2018, the market capitalisation of Mahanagar Gas Limited was observed to be close to Rs.8,500 crore.
Mahanagar Gas Limited is a natural gas distribution company which primarily supplies natural gas in Mumbai and its surrounding areas. It supplies piped natural gas (PNG) for an array of domestic, commercial, and industrial applications. It presently caters to more than 1 million households, 3,500 small establishments and 69 industrial establishments. In addition to this, Mahanagar Gas Limited also supplies compressed natural gas (CNG) to filling stations across Mumbai, serving more than half a million vehicles.
Mahanagar Gas Limited was incorporated in the year 1995 as a joint venture between GAIL, Royal Dutch Shell and the Government of Maharashtra. In 1997, the company signed its first contract with GAIL to supply and transport natural gas. Towards the end of 2011, the company finished laying 2,000 km of PE pipeline and 200 km of steel pipeline to successfully transport natural gas. Over the years, the company continued to expand its reach and customer base.
Mr. Akhil Mehrotra - Chairman
Mr. Akhil Mehrotra is presently the Director on the Board of Mahanagar Gas Limited and also serves as its Chairman. He has held this post since May 2017. Prior to his appointment to the present post, he worked as the Director of Downstream Business with BG India and also as the Director of Business Development and Regulatory Affairs at Gujarat Gas Company Limited. He has also worked with Reliance Group of Industries handling power, telecom, and petrochemicals businesses. He is considerably experienced when it comes to petrochemicals and power sectors. In addition to this, he is adept at management of gas business, gas market development, project management, and risk management.
Mr. Sanjib Dutta - Managing Director
Mr. Sanjib Dutta is currently the Managing Director and an Additional Director of Mahanagar Gas Limited. He is also associated with GAIL India Limited and ONGC Petro Additions Limited, where he serves respectively as an Executive Director and Director. He has been a part of the natural gas sector for more than 32 years and has handled various assignments like business development, marketing, project development and construction, and operation and maintenance of pipelines and LNG terminals.
Mr. Satish Gavai - Additional Non-Executive Director
Mr. Satish Gavai presently serves as an Additional Non-Executive Director of Mahanagar Gas Limited. Prior to this, he was associated with the Maharashtra Industrial Development Corporation where he served as the Chief Executive Officer. He also held the same position at Maharashtra Housing and Area Development Authority. In addition to his present position, Mr. Gavai serves as the Chief Secretary of Industries, Government of Maharashtra. He is a part of the 1984 batch of the Indian Administrative Services and has served the state and the country for more than 30 years. He holds a Bachelor's degree in Physics from the University of Mumbai and a Masters' degree in Professional Studies from the Cornell University, U.S.A.
The equity shares of Mahanagar Gas Limited are available to the general public for trading on the country's two prominent stock exchanges - the National Stock Exchange and the Stock Exchange, Mumbai. The respective codes for the same are as follows:
Coming to the stock market indices, the company comprises the following:
Registered Office
MGL House
G-33 Block
Bandra-Kurla Complex
Bandra East
Mumbai - 400-051
Maharashtra, India
Email id: info@mahanagargas.com
Contact number: 6678-5000
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