Mahanagar Gas Ltd
MGLMahanagar Gas Ltd
MGLPrice Chart
Scorecard
Performance
LowHasn't fared well - amongst the low performers
Valuation
AvgCan be considered moderately valued vs the market
Growth
LowLagging behind the market in financials growth
Profitability
HighShowing good signs of profitability & efficiency
Entry point
GoodThe stock is underpriced and is not in the overbought zone
Red flags
LowNo red flag found
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Key Metrics
No LabelNo Label | PB RatioPB Ratio | Dividend YieldDiv. Yield |
---|---|---|
10.31 | 2.29 | 2.52% |
Sector PESector PE | Sector PBSector PB | Sector Div YldSctr Div Yld |
---|---|---|
22.94 | 3.46 | 1.27% |
Forecast & Ratings
Detailed Forecast from 28 analysts
Price
Price Upside
Earnings
Earnings Growth
Revenue
Rev. Growth
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.
Peers
Compare with peersGail (India) Ltd
Adani Total Gas Ltd
Gujarat Gas Ltd
Indraprastha Gas Ltd
Gujarat State Petronet Ltd
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Forecasts
Price
Revenue
Earnings
Price Forecast
All values in ₹
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Revenue Forecast
All values in ₹ Thousand cr.
All values in ₹ Thousand cr.
Earnings Per Share Forecast
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Income
Balance Sheet
Cash Flow
Income Statement
Financial Year | FY 2023 | FY 2024 | TTM | |||
---|---|---|---|---|---|---|
Total Revenue | 6,411.16 | 6,464.97 | 6,808.16 | |||
Raw Materials | 4,454.93 | 3,656.65 | 4,939.48 | |||
Power & Fuel Cost | 148.18 | 157.52 | ||||
Employee Cost | 137.09 | 151.35 | ||||
Selling & Administrative Expenses | 33.18 | 37.04 | ||||
Operating & Other expenses | 341.71 | 443.64 | ||||
EBITDA | 1,296.07 | 2,018.77 | 1,868.68 | |||
Depreciation/Amortization | 231.14 | 283.87 | 324.50 | |||
PBIT | 1,064.93 | 1,734.90 | 1,544.18 | |||
Interest & Other Items | 9.39 | 13.30 | 14.72 | |||
PBT | 1,055.54 | 1,721.60 | 1,529.46 | |||
Taxes & Other Items | 265.49 | 445.23 | 387.73 | |||
Net Income | 790.05 | 1,276.37 | 1,141.73 | |||
EPS | 79.98 | 129.22 | 115.59 | |||
DPS | 16.00 | 30.00 | 30.00 | |||
Payout ratio | 0.20 | 0.23 | 0.26 |
Company Updates
Annual report
PDFAnnual report
PDFAnnual report
PDFAnnual report
PDFAnnual report
PDFPeers & Comparison
UtilitiesGas Distribution
Valuation
Technical
Forecast
Stock | PE RatioPE Ratio | PB RatioPB Ratio | Div. YieldDividend Yield |
---|---|---|---|
Mahanagar Gas Ltd | 9.22 | 2.29 | 2.52% |
Gail (India) Ltd | 13.25 | 1.70 | 2.76% |
Adani Total Gas Ltd | 133.85 | 24.95 | 0.03% |
Gujarat Gas Ltd | 28.88 | 4.28 | 1.18% |
Price Comparison
Compare MGL with any stock or ETFShareholdings
Promoter Holdings Trend
Institutional Holdings Trend
Decreased Total Retail Holding
In last 3 months, retail holding in the company has decreased by 1.13%
Increased Foreign Institutional Holding
In last 3 months, foreign institutional holding of the company has increased by 2.71%
Shareholding Pattern
Dec 2023
Mar 2024
Jun 2024
Sep 2024
Shareholding History
Mutual Funds Holding Trend
Mutual Fund Holding
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) | The rupee value of the stock held by the fund divided by the stock’s market cap Market-cap held | Percentage of the fund’s portfolio invested in the stock Weight | Change in the portfolio weight of the stock over the last 3 months 3M holding change | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months Portfolio rank(3M change) |
---|---|---|---|---|
Axis Small Cap Fund - Growth - Direct Plan Growth | The rupee value of the stock held by the fund divided by the stock’s market cap 1.1626% | Percentage of the fund’s portfolio invested in the stock 0.55% | Change in the portfolio weight of the stock over the last 3 months -0.18% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 88/136 (-7) |
UTI Value Fund - Growth - Direct Plan Growth | The rupee value of the stock held by the fund divided by the stock’s market cap 0.6845% | Percentage of the fund’s portfolio invested in the stock 0.79% | Change in the portfolio weight of the stock over the last 3 months -0.29% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 58/71 (-8) |
UTI Dividend Yield Fund - Growth - Direct Plan Growth | The rupee value of the stock held by the fund divided by the stock’s market cap 0.5102% | Percentage of the fund’s portfolio invested in the stock 1.34% | Change in the portfolio weight of the stock over the last 3 months -0.59% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 35/59 (-10) |
Compare 3-month MF holding change on Screener
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
Dividend/Share
₹18.00
Ex DateEx Date
Aug 14, 2024
Cash Dividend
Ex DateEx DateFeb 5, 2024
Dividend/Share
₹12.00
Ex DateEx Date
Feb 5, 2024
Cash Dividend
Ex DateEx DateAug 14, 2023
Dividend/Share
₹16.00
Ex DateEx Date
Aug 14, 2023
Cash Dividend
Ex DateEx DateFeb 14, 2023
Dividend/Share
₹10.00
Ex DateEx Date
Feb 14, 2023
Cash Dividend
Ex DateEx DateAug 11, 2022
Dividend/Share
₹15.50
Ex DateEx Date
Aug 11, 2022
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
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
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
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
Mahanagar Gas will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live
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
Mahanagar Gas Bets On BEST Buses, Trucks To Drive CNG, LNG Volume Growth
Our focus remains to increase PNG penetration: Ashu Shinghal, Mahanagar Gas
Total Promoter Holding
In last 6 months, promoter holding in the company has almost stayed constant
Low Pledged Promoter Holding
Pledged promoter holdings is insignificant