Indraprastha Gas Ltd vs Mahanagar Gas Ltd Stock Comparison

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Last Updated on: Mar 22, 2026

Key Highlights

The Latest Trading Price of Indraprastha Gas Ltd is ₹ 156.55 as of 20 Mar 15:30 . The P/E Ratio of Indraprastha Gas Ltd changed from 18.3 on March 2023 to 17.4 on March 2022 . This represents a CAGR of -1.00% over 5 yearsThe P/E Ratio of Mahanagar Gas Ltd changed from 12.3 on March 2023 to 0 on March 2022 . This represents a CAGR of -100.00% over 5 years The Market Cap of Indraprastha Gas Ltd changed from ₹ 29995 crore on March 2023 to ₹ 26092 crore on March 2022 . This represents a CAGR of -2.75% over 5 yearsThe Market Cap of Mahanagar Gas Ltd changed from ₹ 9723 crore on March 2023 to ₹ 0 crore on March 2022 . This represents a CAGR of -100.00% over 5 years The revenue of Indraprastha Gas Ltd for the Dec '25 is ₹ 4234 crore as compare to the Sep '25 revenue of ₹ 4200 crore. This represent the growth of 0.79% The revenue of Mahanagar Gas Ltd for the Dec '25 is ₹ 2089 crore as compare to the Sep '25 revenue of ₹ 2079 crore. This represent the growth of 0.5% The ebitda of Indraprastha Gas Ltd for the Dec '25 is ₹ 637.59 crore as compare to the Sep '25 ebitda of ₹ 618.66 crore. This represent the growth of 3.06% The ebitda of Mahanagar Gas Ltd for the Dec '25 is ₹ 380.91 crore as compare to the Sep '25 ebitda of ₹ 365.01 crore. This represent the growth of 4.36% The net profit of Indraprastha Gas Ltd changed from ₹ 480.22 crore to ₹ 392.01 crore over 7 quarters. This represents a CAGR of -10.95% The net profit of Mahanagar Gas Ltd changed from ₹ 288.77 crore to ₹ 201.1 crore over 7 quarters. This represents a CAGR of -18.68% The Dividend Payout of Indraprastha Gas Ltd changed from 25.06 % on March 2021 to 66.78 % on March 2025 . This represents a CAGR of 21.66% over 5 yearsThe Dividend Payout of Mahanagar Gas Ltd changed from 36.67 % on March 2021 to 28.36 % on March 2025 . This represents a CAGR of -5.01% over 5 years .

About Indraprastha Gas Ltd

Indraprastha Gas Limited., a City Gas Distribution Company (CGD) was incorporated on December 23, 1998.
The Company is a Joint Venture between GAIL (India) Ltd and Bharat Petroleum Corporation Ltd. Presently, the Company is in the business of City Gas Distribution presently operating in the NCT of Delhi, Noida, Greater Noida, Ghaziabad, Hapur, Meerut, Shamli, Kanpur, Fatehpur, Hamirpur, Muzaffarnagar, Gurugram, Rewari, Karnal, Kaithal, Ajmer, Pali & Rajsamand, , Banda, Chitrakoot and Mahoba. In the year 1999, the Company took over Delhi City Gas Distribution Project in 1999 from GAIL (India) Ltd. This project was started to lay the network for the distribution of natural gas in the National Capital Territory of Delhi to consumers in the domestic, transport, and commercial sectors. In June 9, 2000 the company signed an asset transfer agreement with GAIL in which the business of distribution of natural gas, liquefied petroleum gas and compressed natural gas along with the land and buildings, licenses, permits, authorizations, customer lists contacts were transferred from GAIL to the company.

About Mahanagar Gas Ltd

Mahanagar Gas Limited (MGL) is one of the largest city gas distribution (CGD) companies in India.
MGL is the sole authorized distributor of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Mumbai, Thane urban and adjoining municipalities and the Raigad district in 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.
MGL distributes natural gas through an extensive CGD network of pipelines. Mahanagar Gas Limited (MGL) was incorporated in 1995, as 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.

FAQs for the comparison of Indraprastha Gas Ltd and Mahanagar Gas Ltd

Which company has a larger market capitalization, Indraprastha Gas Ltd or Mahanagar Gas Ltd?

Market cap of Indraprastha Gas Ltd is 21,917 Cr while Market cap of Mahanagar Gas Ltd is 9,563 Cr

What are the key factors driving the stock performance of Indraprastha Gas Ltd and Mahanagar Gas Ltd?

The stock performance of Indraprastha Gas Ltd and Mahanagar Gas Ltd is primarily driven by its robust global client base, consistent revenue growth, strong operational efficiency, strategic investments in digital transformation, client acquisition, and the overall health of the industry. Both companies' performances are also influenced by macroeconomic conditions, currency fluctuations, and industry-specific trends.

What are the recent stock price for Indraprastha Gas Ltd and Mahanagar Gas Ltd?

As of March 22, 2026, the Indraprastha Gas Ltd stock price is INR ₹156.55. On the other hand, Mahanagar Gas Ltd stock price is INR ₹968.2.

How do dividend payouts of Indraprastha Gas Ltd and Mahanagar Gas Ltd compare?

To compare the dividend payouts of Indraprastha Gas Ltd and Mahanagar Gas Ltd, examine their dividend payout ratio, which indicates how much the companies pay out relative to their share price and earnings. Moreover, consider the consistency and growth of their dividends to gauge their commitment towards returning value to the respective shareholders.

Disclaimer: This information provided above is for informational purposes only and does not constitute investment advice. We use third-party data and recommend conducting thorough research and consulting a certified financial advisor before making investment decisions. We do not endorse specific stocks. Make decisions based on your own research and professional guidance.