Mahanagar Gas Limited has informed the Exchange regarding Proceedings of 30th Annual General Meeting held on August 22, 2025
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Mahanagar Gas Limited (MGL) held its 30th Annual General Meeting on August 22, 2025, via video conferencing, chaired by Mr. Sandeep Kumar Gupta. The Chairman highlighted that FY 2024-25 was the company's highest-ever performance year, driven by expansion of gas pipeline networks, CNG infrastructure, and growth in industrial and commercial volumes. Shareholders approved a final dividend of Rs. 18 per share, taking the total dividend for FY25 to Rs. 30 per share (including the interim Rs. 12 per share already paid). Six ordinary resolutions were passed, covering adoption of audited financial statements, director re-appointment of Mr. Ashu Shinghal, appointment of new secretarial auditors, cost auditor remuneration, and approval of material related party transactions with GAIL (India) Limited. The Chairman also outlined strategic moves including the amalgamation of Unison Enviro Private Limited, investment in 3EV Industries (electric three-wheelers), a joint venture with International Battery Company for lithium-ion cell manufacturing, and a proposed bio-gas project with BMC.
The strong dividend (Rs. 30/share total for FY25) reflects robust cash generation and rewards shareholders, while approval of related party transactions with GAIL India (MGL's promoter) is a routine recurring requirement. The new diversification into EVs, lithium-ion batteries, and bio-gas signals MGL's strategic push beyond core CNG and PNG, which could shape long-term growth narrative but may take time to materially impact earnings.