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Is Mahanagar Gas Ltd. Shariah Compliant? | BarakFi | BarakFi
NIFTY 5023,842.75+0.54%SENSEX78,553.20+0.54%NIFTY BANK51,236.80−0.17%NIFTY IT33,156.40+0.75%NIFTY PHARMA19,872.35+0.28%NIFTY AUTO23,145.90−0.48%NIFTY FMCG56,234.15+0.32%INDIA VIX13.42−2.75%NIFTY 5023,842.75+0.54%SENSEX78,553.20+0.54%NIFTY BANK51,236.80−0.17%NIFTY IT33,156.40+0.75%NIFTY PHARMA19,872.35+0.28%NIFTY AUTO23,145.90−0.48%NIFTY FMCG56,234.15+0.32%INDIA VIX13.42−2.75%
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MGLNSE

Mahanagar Gas Ltd.

Oil Gas & Consumable Fuels · Mid Cap · India
₹1,088
▼ ₹15.2 (-1.38%) today
Day Range: ₹1,070 – ₹1,094.4
Volume: 71.8K · as of 3 Jun 2026, 1:39 pm
Shariah Status
Requires Review
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Last screened 2 Jun 2026, 7:36 pm IST.
Methodology
AAOIFI aligned · 2026.04.2
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Requires Review
Compliance
Market Data
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Shariah Compliance Breakdown
Debt Ratio
Interest-bearing debt compared to methodology denominator (AAOIFI: total assets). Must stay below 30%.
Disclaimer:The information on this page is for educational purposes only and does not constitute a religious ruling (fatwa) or financial advice. Shariah compliance status is derived from publicly available financial data and BarakFi's methodology mapping. Individual scholars may reach different conclusions. Always consult a qualified Islamic finance scholar and a licensed financial advisor before making investment decisions.
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Shariah-compliant equity screening for the Indian market.

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© 2026 BarakFi · Educational screening · Not a religious ruling or financial adviceMade in India
Threshold: 30%
Not disclosed
Borderline
Interest Income
Interest and treasury-based income as a share of business income. Must stay below 5%.
Threshold: 5%
0.0%
Pass
Non-permissible Income
Non-halal income compared to total business income. Must stay below 5%.
Threshold: 5%
Not detected
Pass
Accounts Receivable
Receivables compared to methodology denominator (AAOIFI: total assets). Must stay below 49%.
Threshold: 49%
5.1%
Pass
Business Activity
Core business lines should avoid prohibited sectors and interest-driven revenue dependence.
Allowed
Pass
Cash & Interest-bearing Assets
Cash, equivalents, and interest-bearing balances compared to total assets. Must stay below 30%.
Threshold: 30%
12.2%
Pass
Why Requires Review
Mahanagar Gas Ltd. currently screens as requires review on BarakFi. Insufficient data for: debt_ratio. Debt ratio: Total debt figure is missing from the latest reliable filing.
Market Data
Current Price
₹1,088
Day Range
₹1,070 – ₹1,094.4
52-Week Range
₹900 – ₹1,586.9
Volume
71.8K
Market Cap
₹10,789 Cr
P/E Ratio
—
About Mahanagar Gas Ltd.

Mahanagar Gas Ltd. engages in the sale and distribution of natural gas. The company is headquartered in Mumbai, Maharashtra and currently employs 509 full-time employees. The company went IPO on 2016-07-01. The firm is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane and Raigad districts of Maharashtra. The company operates in the business of city gas distribution segment. The company offers PNG for domestic, commercial and industrial purpose. Its domestic PNG is used for various purposes like cooking and water heating. The company is also used by hospitals, nursing homes, hotels, flight kitchens, restaurants, places of worship and others. The company offers PNG for various industries, including metal, pharmaceuticals, food and beverages, printing and dyeing, oil mills, power generation and air conditioning. The company supplies CNG to Brihanmumbai Electricity Supply and Transport/Thane Municipal Transport/Maharashtra State Road Transport Corporation/Navi Mumbai Municipal Transport (BEST/TMT/MSRTC/NMMT) buses, light commercial vehicles (LCVs)/ tempos/ trucks/private buses. The company also installs gas geysers.

BarakFi combines that company context with filing-driven screening ratios, market-cap evidence, and live quote snapshots so you can review the stock through a Shariah-screening lens without losing the underlying business picture.

Index and universe context: Nifty 500 • Nifty SMALLCAP 100.

Oil Gas & Consumable FuelsMid CapIndiaNSENifty 500Nifty SMALLCAP 100
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Key Compliance Ratios
Debt RatioNot disclosed
Interest Income0.0%
Non-permissible IncomeNot detected
Receivables Ratio5.1%
Overall StatusRequires Review
Stock Information
TickerMGL
ExchangeNSE
SectorOil Gas & Consumable Fuels
CountryIndia
Market Cap₹10,789 Cr
36M Avg MCap₹10,882 Cr
Cap SizeMid Cap
About this Screening
This page uses an AAOIFI-aligned methodology version 2026.04.2, checking debt, interest income, non-permissible income, receivables, and balance-sheet context from the current filings dataset.

This is educational only — not a religious ruling or financial advice. Read the full methodology for threshold context and update cadence.

Read full methodology →
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