Mahanagar Gas Ltd. has appointed Praveer Kumar Srivastava as an Additional Director, designated as Managing Director of the company for a period of five consecutive years, as per an exchange filing on Friday.
Srivastava's appointment will come into effect from April 30, 2026 onwards and will remain valid till April 29, 2031 or until further order received from GAIL (India) Ltd.
The appointment is subject to approval from the shareholders of the Company. Further, the company underlined that he shall be appointed as member of various committees of the Board with effect from the same date.
At present, Ashu Shinghal is serving as the company's MD and shall cease to hold the position from April 30 onwards.
About Praveer Srivastava
Praveer Kumar Srivastava is a Chemical Engineer from IIT Kharagpur and a certified Energy Auditor by the National Productivity Council.
Srivastava's professional career spans over three decades in GAIL (India) Limited. Throughout his tenure, he has been deeply involved in operations and maintenance of Gas Processing Units and pipeline networks, as well as project execution across multiple strategic GAIL installations.
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Currently, he serves as Executive Director, Western Region, leading GAIL's Western Region team and overseeing Operations & Maintenance and Marketing functions across the Western Regional Pipeline Network.
MGL Q3 FY26 Highlights
Revenue rose 11.6% to Rs 2,265.97 crore from Rs 2,030.82 crore in the year-ago period. However, bottom-line declined by 9.4% to Rs 201.97 crore, down from Rs 223.00 crore a year ago.
Earnings before interest tax and depreciation were clocked at Rs 352.07 crore, and earnings per share (EPS) stood at Rs 20.45 for the quarter.
MGL Share Price
MGL's stock rose 3.41% to settle at Rs 1075.75 apiece on the NSE. This compared to a 1.16% advance in the Nifty index on Friday. The stock has fallen over 5% year-to-date, and 13.6% in the last 12 months.
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