Shares of the company gained more than 35 per cent in the last one year.

Mahanagar Gas has signed a memorandum of understanding (MoU) with the Brihanmumbai Municipal Corporation to set up 1,000 tonnes per day (TPD) compressed biogas (CBG) plant in the megapolis at an investment of around Rs 500 crore. The proposed plant will process up to 1,000 TPD of deep-segregated food and vegetable waste that will be supplied by the civic body.

The plant on completion will provide a three-in-one solution, functioning as a biomass waste treatment plant, an organic fertilizer production plant, and a green fuel production unit. The compressed biogas produced by the plant will be consumed within the city.

In the recent quarter Q4FY23, the revenue of the company stood at Rs 1771.81 crore which grew by 49.19 per cent YoY. The company’s operating profit stood at Rs 423.34 crore, while the PAT of the company stood at Rs 268.81 crore, representing an impressive growth of 103.95 per cent YoY.

Mahanagar Gas Limited is engaged in the business of City gas distribution (CGD), presently supplying natural gas in the city of Mumbai including adjoining areas and the Raigad District in the state of Maharashtra. The company supplies Piped natural gas (PNG) for domestic, industrial, and commercial uses. It has a wide network of 5,900+ km of carbon steel and polyethene pipeline.

Today, the stock opened at Rs 1024.15, with a high and low of Rs 1038.05 and Rs 1015.15. The stock closed trading at Rs 1020.25, down by 0.45%. The stock has a 52-week high of Rs 1104.80 and a 52-week low of Rs 666.35. The company has a ROCE of 26.8% and an ROE of 20.4% with a market capitalisation of Rs 10,073 crore.