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Mahanagar Gas Ltd

MGL

Mahanagar Gas Ltd

MGL
UtilitiesGas Distribution
SmallcapWith a market cap of ₹11,771 cr, stock is ranked 484
Moderate RiskStock is 3.00x as volatile as Nifty
1,236.500.00% (+0.00)
1,236.500.00% (+0.00)

Price Chart

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1D
1W
1M
1Y
5Y
Max
SIP
UtilitiesGas Distribution
SmallcapWith a market cap of ₹11,771 cr, stock is ranked 484
Moderate RiskStock is 3.00x as volatile as Nifty
Scorecard

Performance

Low

Hasn't fared well - amongst the low performers

Valuation

Avg

Can be considered moderately valued vs the market

Growth

Low

Lagging behind the market in financials growth

Profitability

High

Showing good signs of profitability & efficiency

Entry point

Good

The stock is underpriced and is not in the overbought zone

Red flags

Low

No red flag found

How to use scorecard? Learn more

UtilitiesGas Distribution
SmallcapWith a market cap of ₹11,771 cr, stock is ranked 484
Moderate RiskStock is 3.00x as volatile as Nifty

Key Metrics

No LabelNo LabelPB RatioPB RatioDividend YieldDiv. Yield
10.312.292.52%
Sector PESector PESector PBSector PBSector Div YldSctr Div Yld
22.943.461.27%

Forecast & Ratings

Detailed Forecast 
57%
Analysts have suggested that investors can buy this stock

from 28 analysts

Price

Price Upside

Earnings

Earnings Growth

Revenue

Rev. Growth

See Detailed Forecast

Company Profile

Mahanagar Gas Limited is a natural gas distribution company. The Company is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its adjoining areas.

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Forecasts

Price

Revenue

Earnings

Income

Balance Sheet

Cash Flow

Income Statement

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Financial YearFY 2023FY 2024TTM
Total Revenue6,411.166,464.976,808.16
Raw Materialssubtract4,454.933,656.654,939.48
Power & Fuel Costsubtract148.18157.52
Employee Costsubtract137.09151.35
Selling & Administrative Expensessubtract33.1837.04
Operating & Other expensessubtract341.71443.64
Depreciation/Amortizationsubtract231.14283.87324.50
Interest & Other Itemssubtract9.3913.3014.72
Taxes & Other Itemssubtract265.49445.23387.73
EPS79.98129.22115.59
DPS16.0030.0030.00
Payout ratio0.200.230.26

Company Updates

Annual Report and Investor Presentation updates mentioned here are as reported by the company to the exchange
FY 2017

Annual report

PDF

Investor Presentation

Sep 9PDF
FY 2019

Annual report

PDF

Investor Presentation

Nov 19PDF
Aug 10PDF
Jul 10PDF
FY 2020

Annual report

PDF

Investor Presentation

Aug 23PDF
FY 2021

Annual report

PDF

Investor Presentation

Jul 6PDF
 

Peers & Comparison

Comparing 3 stocks from 
UtilitiesGas Distribution

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StockPE RatioPE RatioPB RatioPB RatioDiv. YieldDividend Yield
Mahanagar Gas Ltd9.222.292.52%
Gail (India) Ltd13.251.702.76%
Adani Total Gas Ltd133.8524.950.03%
Gujarat Gas Ltd28.884.281.18%

Price Comparison

Compare MGL with any stock or ETF
Compare MGL with any stock or ETF
MGL
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Shareholdings

Promoter Holdings Trend

Total Promoter Holding

Increasing promoter holding is considered good and reflects management’s positive view about the future outlook

In last 6 months, promoter holding in the company has almost stayed constant

Low Pledged Promoter Holding

Lower pledged promoter holdings is considered better

Pledged promoter holdings is insignificant

Institutional Holdings Trend

Decreased Total Retail Holding

Increasing retail holding can be considered bad as it can reflect that institutions and promoters are selling their stake which is being absorbed by retail investors.

In last 3 months, retail holding in the company has decreased by 1.13%

Increased Foreign Institutional Holding

Foreign Institutional Holding is quantum of stock held by foreign large-quantities-trading entities. Increasing value indicates growing support and comfort for the stock

In last 3 months, foreign institutional holding of the company has increased by 2.71%

Tickertape Separator

Shareholding Pattern

Retail and OthersForeign InstitutionsOther Domestic InstitutionsMutual FundsTotal Promoter Holding32.50%5.13%10.33%34.20%17.84%

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Shareholding History

JunSepDec '23MarJunSep32.38%30.51%30.85%30.55%31.49%34.20%

Mutual Funds Holding Trend

Mutual Fund Holding

Increasing Mutual Fund holdings are generally considered good, as it reflects that fund managers are becoming more bullish about the stock

In last 3 months, mutual fund holding of the company has almost stayed constant

Top 5 Mutual Funds holding Mahanagar Gas Ltd




Funds (Top 5)Market-cap heldWeight3M holding changePortfolio rank
(3M change)
Axis Small Cap Fund - Growth - Direct Plan

Growth
1.1626%0.55%-0.18%88/136 (-7)
UTI Value Fund - Growth - Direct Plan

Growth
0.6845%0.79%-0.29%58/71 (-8)
UTI Dividend Yield Fund - Growth - Direct Plan

Growth
0.5102%1.34%-0.59%35/59 (-10)

Compare 3-month MF holding change on Screener

Insider Trades & Bulk Deals

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smallcases

Looks like this stock is not in any smallcase yet.

Events

Dividend Trend

No dividend trend available

Dividends

Corp. Actions

Announcements

Legal Orders

Upcoming Dividends

No upcoming dividends are available

Past Dividends

Cash Dividend

Ex DateEx DateAug 14, 2024

Final
Final | Div/Share: ₹18.00

Dividend/Share

18.00

Ex DateEx Date

Aug 14, 2024

Cash Dividend

Ex DateEx DateFeb 5, 2024

Interim
Interim | Div/Share: ₹12.00

Dividend/Share

12.00

Ex DateEx Date

Feb 5, 2024

Cash Dividend

Ex DateEx DateAug 14, 2023

Final
Final | Div/Share: ₹16.00

Dividend/Share

16.00

Ex DateEx Date

Aug 14, 2023

Cash Dividend

Ex DateEx DateFeb 14, 2023

Interim
Interim | Div/Share: ₹10.00

Dividend/Share

10.00

Ex DateEx Date

Feb 14, 2023

Cash Dividend

Ex DateEx DateAug 11, 2022

Final
Final | Div/Share: ₹15.50

Dividend/Share

15.50

Ex DateEx Date

Aug 11, 2022

News & Opinions
Spotlight
Gas stocks plunge as government cuts domestic gas allocation

Indraprastha Gas (down 18.66%), Mahanagar Gas (down 13.45%), Gujarat Gas (down 6.36%), Adani Total Gas (down 2.54%) and Gail (India) (down 1.40%) declined. The government's policy prioritizes the allocation of Administrative Price Mechanism (APM) gas to City Gas Distribution (CGD) companies for crucial segments like domestic PNG and CNG for transportation. However, due to limited availability, the allocation has been curtailed, impacting the operations of these companies. Mahanagar Gas, a leading CGD company, has highlighted that the 18% reduction in allocation, effective November 16, 2024, will negatively impact its profitability. Similarly, Indraprastha Gas has reported a 20% reduction, while Adani Total Gas has seen a 13% reduction in their APM gas allocations, which will adversely affect their financial performance. As a result of these developments, multiple analysts have downgraded their ratings on CGD stocks, expressing concerns about their future profitability. To mitigate the impact of reduced gas allocation, Mahanagar Gas is exploring alternative sources of natural gas, such as High-Pressure High-Temperature (HPHT) Gas, New Well/Well Intervention (NWG) Gas sourced from ONGC, and Benchmark-Linked Long-Term Contracts with gas suppliers. The CGD industry is actively engaging with key stakeholders to address the issue and seek a resolution. However, the immediate impact of the reduced gas allocation is likely to weigh on the financial performance of these companies. Powered by Capital Market - Live

2 weeks agoCapital Market - Live
Spotlight
Mahanagar Gas to undertake battery cell manufacturing with International Battery Co

In a regulatory filing made post trading hours on Thursday, MGL stated that it has signed a share subscription agreement (SSA) and a shareholding agreement (SHA) with International Battery Company, Inc. (IBC US). Accordingly, both parties will invest in International Battery Company India Private Limited (IBC) to form a joint venture company, which is currently a 100% subsidiary of IBC US. Last month, MGL had announced the signing of an indicative and non-binding term sheet with International Battery Company, Inc, a Delaware Corporation, for a proposed investment by the company in IBC of an amount not exceeding Rs 385 crore, for a stake not less than 40%. IBC US is based in California, USA. The company has put up a pilot facility in Seoul, South Korea for development and production of li-ion cell and has secured certifications such as UN 38.3, BIS, and AIS for their prismatic NMC cells. To address the local market requirement, IBC US and MGL are setting up a giga factory at Bangalore. MGL intends to take at least 40% stake in IBC. The India facility will be a technology agonistic plant which will initially produce prismatic NMC Li-ion cells having wide application across mobility and battery storage sector. Ashu Shinghal, managing director of MGL said: 'MGL has established itself as a leading CGD company and a key player in India's energy landscape. MGL has already committed investments in LNG retail, CBG and Electric Vehicle manufacturing. Foray into battery cell manufacturing will strengthen its position in the evolving energy space which aligns with MGL's objective of a cleaner future. IBC has a capable and experienced team who has worked with leading technology companies globally. Through IBC, MGL and IBC US will set up a giga factory in India for Indigenous battery cell manufacturing. This will enable the consumers to source battery cells locally, which are currently being imported. thereby enhancing the competitiveness of the sector.' Mahanagar Gas is in the business of city gas distribution (CGD), presently distribution of natural gas for domestic industrial, commercial customers and CNG vehicles. The company reported 16.5% fall in standalone net profit to Rs 282.8 crore despite a 9% rise in net revenue from operations to Rs 1,711.62 crore in Q2 FY25 over Q2 FY24. The scrip rose 0.16% to currently trade at Rs 1439.45 on the BSE. Powered by Capital Market - Live

3 weeks agoCapital Market - Live
Spotlight
Mahanagar Gas declines after weak Q2 performance

EBITDA fell by 16.8% to Rs 282.8 crore in Q2 FY25 from Rs 338.5 crore in Q2 FY24. EBITDA margin for the period under review was 23.28% (down 720 basis points YoY). Total sales volume rose by 13.1% YoY to 371.85 SCM million in Q2 FY25. CNG and PNG sales volume for September'24 quarter were 265.47 SCM million (up 11.7% YoY) and 106.38 SCM million (up 16.6% YoY), respectively. Mahanagar Gas is in the business of city gas distribution (CGD), presently distribution of natural gas for domestic industrial, commercial customers and CNG vehicles. Powered by Capital Market - Live

1 month agoCapital Market - Live
Earnings
Mahanagar Gas consolidated net profit declines 16.25% in the September 2024 quarter

Net profit of Mahanagar Gas declined 16.25% to Rs 283.51 crore in the quarter ended September 2024 as against Rs 338.50 crore during the previous quarter ended September 2023. Sales rose 13.71% to Rs 1786.25 crore in the quarter ended September 2024 as against Rs 1570.93 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1786.251570.93 14 OPM %23.1430.48 - PBDT457.15520.12 -12 PBT371.98454.33 -18 NP283.51338.50 -16 Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Mahanagar Gas to convene board meeting

Mahanagar Gas will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live

1 month agoCapital Market - Live
Spotlight
Gas stocks plunge after Govt cuts domestic gas allocation

Mahanagar Gas (down 12.03%), Indraprastha Gas (down 10.55%), Adani Total Gas (down 1.19%), Gujarat Gas (down 0.75%) and Gail (India) (down 0.47%) declined. The government's move is expected to force city gas distribution companies, which supply CNG for vehicles, to increase their reliance on more expensive imported gas. This will likely put pressure on their profitability and potentially lead to higher CNG prices for consumers. Mahanagar Gas, one of the affected companies, stated that the reduced allocation will have a negative impact on its profitability. To mitigate the shortfall, the company is actively exploring alternative gas sourcing options, including domestically produced High Pressure High Temperature (HPHT) gas, New Well/Well Intervention gas (NWG) from ONGC, and benchmark-linked long-term gas contracts. Indraprastha Gas also announced that it has faced a significant reduction in its domestic gas allocation, which could adversely affect its profitability. The company is currently in discussions with key stakeholders to minimize the impact of this cut. Powered by Capital Market - Live

1 month agoCapital Market - Live

Mahanagar Gas Bets On BEST Buses, Trucks To Drive CNG, LNG Volume Growth

4 months agoBloomberg Quint

Our focus remains to increase PNG penetration: Ashu Shinghal, Mahanagar Gas

4 months agoEconomic Times
'Plan To Add 50 CNG Stations In FY25': Mahanagar Gas MD Tells | Talking Point With Niraj Shah
4 months agoNDTV Profit
Mahanagar Gas Q1 Earnings: Steady Profits Recorded, Ashu Singhal's View On Future Outlook | ET Now
4 months agoET NOW