Mahanagar Gas

₹1030.3 1.9 | 0.2%

WEBSITE BSE:539957 NSE : MGL 09 Jun, 13:53

Market Cap ₹10177 Cr.

Stock P/E 15.4

P/B 2.5

Current Price ₹1030.3

Book Value ₹ 418.5

Face Value 10

52W High ₹1104.8

Dividend Yield 2.52%

52W Low ₹ 666.4

Edit Ratio

Mahanagar Gas Research see more...

Overview Inc. Year: 1995Industry: Gas Transmission/Marketing

Mahanagar Gas Ltd is a city gas distribution organization. The Company is engaged within the distribution of CNG and PNG in Mumbai and its adjacent areas and inside the Raigad district of Maharashtra, India. It additionally substances CNG for motors, consisting of rickshaws, taxis and cars in Mumbai, Thane, Mira-Bhayander, Navi Mumbai. It substances 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 motors (LCVs)/ tempos/ trucks/private buses. It gives PNG for domestic, commercial and commercial motive. It gives PNG for various industries, which includes metal, prescribed drugs, meals and drinks, printing and dyeing, oil mills, power generation and aircon. It additionally installs gas geysers. Its industrial PNG has diverse packages in hospitals, hotels, power, charitable trusts and industries.

Mahanagar Gas Share Price

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

Mahanagar Gas Quarterly Results

#(Fig in Cr.)	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Sep 2022	Dec 2022	Mar 2023
Net Sales	277	549	727	784	667	908	1123	1718	1838	1772
Other Income	25	18	20	17	19	23	22	26	32	34
Total Income	302	567	748	801	685	930	1145	1744	1871	1805
Total Expenditure	197	328	411	468	363	606	1020	1465	1582	1382
Operating Profit	105	240	337	333	323	324	125	279	288	423
Interest	2	2	2	2	2	2	2	2	2	2
Depreciation	42	42	44	45	45	47	48	55	59	64
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	61	195	291	287	276	275	75	221	227	357
Provision for Tax	15	51	74	74	72	71	18	57	55	88
Profit After Tax	45	144	217	213	204	204	57	164	172	269
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	45	144	217	213	204	204	57	164	172	269
Adjusted Earnings Per Share	4.6	14.6	22	21.5	20.7	20.7	5.7	16.6	17.4	27.2

Mahanagar Gas Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	1309	1514	1885	2095	2078	2034	2233	2791	2972	2153	3560	6451
Other Income	19	32	34	41	48	54	58	78	99	84	87	114
Total Income	1328	1546	1920	2136	2126	2088	2291	2869	3071	2236	3647	6565
Total Expenditure	810	1032	1397	1605	1569	1391	1453	1906	1920	1222	2637	5449
Operating Profit	518	515	523	530	556	697	838	963	1152	1014	1010	1115
Interest	0	1	0	1	2	1	0	0	7	7	8	8
Depreciation	64	71	81	80	83	95	111	126	162	174	196	226
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	454	442	442	449	472	601	727	837	984	834	806	880
Provision for Tax	146	144	145	148	161	207	249	291	190	214	209	218
Profit After Tax	308	299	297	301	311	393	478	546	794	620	597	662
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	308	299	297	301	311	393	478	546	794	620	597	662
Adjusted Earnings Per Share	34.4	33.4	33.3	33.7	34.8	39.8	48.4	55.3	80.3	62.7	60.4	66.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	65%	8%	12%	11%
Operating Profit CAGR	-0%	2%	8%	7%
PAT CAGR	-4%	3%	9%	7%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	34%	1%	4%	NA%
ROE Average	17%	22%	23%	24%
ROCE Average	24%	29%	32%	34%

Mahanagar Gas Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	1067	1183	1297	1407	1728	1840	2095	2399	2953	3232	3597
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	10	10	8	16	4	3	1	0	0	0	0
Other Non-Current Liabilities	66	80	94	111	132	152	190	221	229	258	310
Total Current Liabilities	403	511	576	632	506	630	723	821	947	1111	1327
Total Liabilities	1546	1783	1974	2166	2370	2624	3010	3441	4128	4601	5234
Fixed Assets	764	926	991	1064	1129	1305	1532	1763	2049	2169	2614
Other Non-Current Assets	350	342	371	411	503	525	503	504	574	678	775
Total Current Assets	432	515	612	691	739	795	975	1174	1505	1754	1845
Total Assets	1546	1783	1974	2166	2370	2624	3010	3441	4128	4601	5234

Mahanagar Gas Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	5	17	13	26	17	22	7	15	27	15	28
Cash Flow from Operating Activities	428	439	398	427	419	532	652	685	985	806	904
Cash Flow from Investing Activities	-326	-285	-200	-261	-222	-263	-419	-439	-755	-444	-539
Cash Flow from Financing Activities	-91	-157	-185	-176	-191	-284	-226	-235	-242	-349	-310
Net Cash Inflow / Outflow	11	-3	13	-10	5	-15	8	12	-11	13	54
Closing Cash & Cash Equivalent	17	13	26	16	22	7	15	27	15	28	82

Mahanagar Gas Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	34.45	33.41	33.27	33.69	34.8	39.83	48.38	55.32	80.33	62.72	60.43
CEPS(Rs)	41.59	41.37	42.31	42.64	44.04	49.46	59.63	68.06	96.71	80.31	80.3
DPS(Rs)	15	17.5	17.5	17.5	17.5	19	19	20	35	23	25
Book NAV/Share(Rs)	119.43	132.37	145.17	157.54	193.46	186.28	212.13	242.86	298.92	327.24	364.18
Core EBITDA Margin(%)	34.83	29.24	23.79	21.37	22.27	28.71	31.8	28.97	32.24	39.81	23.77
EBIT Margin(%)	31.72	26.86	21.54	19.66	20.74	26.87	29.62	27.39	30.33	35.96	20.95
Pre Tax Margin(%)	31.7	26.79	21.53	19.61	20.64	26.83	29.62	27.38	30.13	35.66	20.75
PAT Margin (%)	21.49	18.08	14.49	13.13	13.6	17.57	19.48	17.87	24.31	26.5	15.37
Cash Profit Margin (%)	25.95	22.39	18.42	16.62	17.22	21.82	24.01	21.99	29.26	33.93	20.42
ROA(%)	21.76	17.93	15.82	14.54	13.71	15.75	16.96	16.94	20.97	14.2	12.14
ROE(%)	31.05	26.54	23.98	22.26	19.83	22.05	24.29	24.32	29.66	20.03	17.48
ROCE(%)	45.35	39.07	35.4	33.03	30.02	33.65	36.89	37.25	37	27.19	23.83
Receivable days	23.99	19.08	17.74	16.36	15.06	15.23	13.62	11.22	9.39	15.3	14.64
Inventory Days	3.55	3.1	2.64	2.65	2.83	3.41	3.55	2.57	2.11	3.18	2.33
Payable days	27.01	27.62	30.74	30.75	33.18	41.52	40.81	34.24	37.6	70.24	38.16
PER(x)	0	0	0	0	0	22.47	19.9	18.93	10.18	18.61	12.9
Price/Book(x)	0	0	0	0	0	4.8	4.54	4.31	2.74	3.57	2.14
Dividend Yield(%)	0	0	0	0	0	2.12	1.97	1.91	4.28	1.97	3.21
EV/Net Sales(x)	0.04	0.02	0	-0.02	-0.04	4.28	4.22	3.6	2.64	5.12	2.03
EV/Core EBITDA(x)	0.09	0.06	0.02	-0.08	-0.15	12.5	11.24	10.43	6.82	10.86	7.16
Net Sales Growth(%)	23.21	15.69	24.48	11.13	-0.79	-2.13	9.79	24.99	6.49	-27.58	65.39
EBIT Growth(%)	36.4	-2.39	-0.32	1.93	5.18	26.98	20.76	15.23	18.25	-15.08	-3.21
PAT Growth(%)	36.47	-3	-0.42	1.26	3.28	26.55	21.46	14.34	45.23	-21.92	-3.65
EPS Growth(%)	36.47	-3	-0.42	1.26	3.28	14.46	21.46	14.34	45.23	-21.92	-3.65
Debt/Equity(x)	0.01	0.01	0.01	0.01	0	0	0	0	0	0	0
Current Ratio(x)	1.07	1.01	1.06	1.09	1.46	1.26	1.35	1.43	1.59	1.58	1.39
Quick Ratio(x)	1.04	0.98	1.04	1.07	1.42	1.22	1.32	1.41	1.57	1.56	1.37
Interest Cover(x)	1557.29	414.65	2131.1	373.86	213.25	589.25	8037.65	2593.66	151.73	116.87	108.01
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

Mahanagar Gas Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5
FII	29.56	31.11	29.59	29.38	25.32	24.98	25.81	28.37	29.73	30.95
DII	28.09	27.17	28.38	27.8	29.05	27.35	26.06	25.57	25.61	24.93
Public	9.85	9.22	9.52	10.32	13.13	15.18	15.63	13.55	12.16	11.61
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	3.21	3.21	3.21	3.21	3.21	3.21	3.21	3.21	3.21	3.21
FII	2.92	3.07	2.92	2.9	2.5	2.47	2.55	2.8	2.94	3.06
DII	2.77	2.68	2.8	2.75	2.87	2.7	2.57	2.53	2.53	2.46
Public	0.97	0.91	0.94	1.02	1.3	1.5	1.54	1.34	1.2	1.15
Others	0	0	0	0	0	0	0	0	0	0
Total	9.88	9.88	9.88	9.88	9.88	9.88	9.88	9.88	9.88	9.88

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 22%
Debtor days have improved from 70.24 to 38.16days.
Company is almost debt free.

Cons

Promoter holding is low: 32.5%.
The company has delivered a poor profit growth of 8% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.