Mahanagar Gas Limited has informed the Exchange regarding appointment of Shri Deepak Gupta (DIN: 09503339), as an Additional Director in the category of Non-Executive Non-Independent Director designated as Chairman of the Company with effect from March 01, 2026, until further orders from GAIL (India) Limited, subject to approval of shareholders of the Company.
MGL · price
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Mahanagar Gas Limited (MGL) has announced a change at the top of its Board effective March 1, 2026. Sandeep Kumar Gupta will step down as Chairman and Director following GAIL (India) Limited withdrawing his nomination. In his place, Deepak Gupta has been appointed as Additional Director in the Non-Executive Non-Independent category, designated as Chairman, based on the Nomination and Remuneration Committee's recommendation. The new Chairman brings 35 years of Oil & Gas sector experience, including leading the $19 billion Dangote Refinery project in Nigeria, and is a certified Project Management Professional. His appointment is until further orders from GAIL and is subject to shareholder approval.
This is a routine promoter-driven board change since GAIL (India) is the major shareholder and nominates the Chairman. No major operational or strategic shift is signaled — the new Chairman is an industry veteran with strong project execution credentials, which may be viewed positively by investors. Shareholder approval will be sought in due course.