Mumbai: Mahanagar Gas Limited (MGL) held its 31st Annual General Meeting (AGM), where shareholders approved key financial and business resolutions, including a final dividend of ₹18 per equity share for FY26.
The final dividend follows an interim dividend of ₹12 per share, taking MGL’s total dividend payout for the financial year ended March 31, 2026, to ₹30 per equity share.
The AGM was attended by Deepak Gupta, Chairman; Praveer Kumar Srivastava, Managing Director; and Ajay Sinha, Deputy Managing Director, along with shareholders and other stakeholders.
MGL Shareholders Approve ₹18 Final Dividend
One of the key decisions at the AGM was the declaration of the final dividend of ₹18 per equity share for FY26.
Including the ₹12 interim dividend paid earlier in the year, the total dividend for FY26 stands at:
- Interim dividend: ₹12 per share
- Final dividend: ₹18 per share
- Total FY26 dividend: ₹30 per share
Shareholders also approved the audited financial statements for FY26.
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Key Resolutions Approved at MGL AGM
Several ordinary and special business items were considered and approved during the meeting.
These included:
- Adoption of audited financial statements for FY26
- Confirmation of ₹12 interim dividend and declaration of ₹18 final dividend
- Re-appointment of Dr. P. Anbalagan as Director
- Ratification of Cost Auditors’ remuneration for FY27
- Approval of material related-party transactions with GAIL (India) Limited
- Payment of commission to Independent Directors
The AGM was conducted through video conferencing in compliance with applicable SEBI and Ministry of Corporate Affairs guidelines.
MGL Records Growth in CNG and PNG Business
During the AGM, Chairman Deepak Gupta described FY25-26 as a period of resilience amid global geopolitical uncertainties.
He highlighted the company’s strong performance in gas sales, particularly in its key Compressed Natural Gas (CNG) and Domestic Piped Natural Gas (PNG) segments.
MGL continued to strengthen its City Gas Distribution business by:
- Expanding its CNG station network
- Adding new PNG connections
- Strengthening its geographical presence
- Focusing on operational efficiency and customer growth
Unison Enviro Amalgamation Expands MGL Footprint
A major strategic development highlighted during the AGM was the successful amalgamation of Unison Enviro Private Limited with MGL.
The transaction has expanded MGL’s geographical footprint and created opportunities for operational synergies.
The management also highlighted the company’s debt-free balance sheet and disciplined approach towards capital allocation as important strengths supporting its future growth strategy.
MGL Explores New Energy Opportunities
Beyond its core City Gas Distribution operations, MGL is pursuing opportunities across several emerging energy segments.
The company’s diversification focus includes:
- LNG mobility
- Compressed Biogas (CBG)
- Electric mobility
- Battery manufacturing
- Renewable energy
- Green hydrogen
According to the management, these initiatives are being pursued with financial prudence while maintaining focus on long-term sustainable growth.
MGL Focuses on Energy, Expansion and Excellence
The AGM reflected MGL’s broader vision of building a strong foundation for future growth based on the principles of Energy, Expansion and Excellence.
The company said it remains focused on strengthening its footprint and creating lasting value for its customers, communities, shareholders and other stakeholders.
The combination of continued growth in its core gas distribution business and investments in emerging energy technologies is expected to support MGL’s long-term strategy.
About Mahanagar Gas Limited
Mahanagar Gas Limited (MGL) is one of India’s leading City Gas Distribution (CGD) companies, supplying CNG for vehicles and PNG to households, commercial establishments and industries. The company operates primarily in Mumbai and surrounding areas and is expanding its presence while exploring new opportunities in cleaner and emerging energy solutions.
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