Mahanagar Gas Ltd.
•₹ 1,114.2-2.07%
2026-08-21
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 27.2%
- Company has a good return on equity (ROE) track record: 3 Years ROE 20.1%
- Company has delivered good sales growth of 30.8% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.30x)
- Company has been maintaining a healthy dividend payout of 35.0%
CONS
- Recent results are weak - TTM profit is down 36.1% versus prior year
- Company has delivered a poor profit growth of 6.4% over past five years
- Expensive relative to growth - PEG of 4.6
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | GAIL | 172.10 | 11.45 | 113157.46 | 3.20 | 4670.99 | 96.08 | 41350.18 | 16.71 | 10.16 | 17.99 |
| 2. | ATGL | 663.85 | 115.49 | 73010.89 | 0.04 | 1417.20 | 757.66 | 19067.90 | 1172.62 | 16.96 | 14.67 |
| 3. | GUJENERGY | 265.90 | 18.38 | 34862.28 | 3.35 | 1007.40 | 207.47 | 9771.38 | 140.35 | 19.75 | 14.41 |
| 4. | IGL | 153.05 | 15.74 | 21427.02 | 3.10 | 237.92 | -44.39 | 5043.44 | 16.56 | 21.81 | 6.95 |
| 5. | MGL | 1128.80 | 15.58 | 11150.04 | 2.66 | 192.64 | -39.38 | 2598.90 | 13.88 | 18.78 | 13.18 |
| 6. | CFEL | 30.81 | 10.71 | 77.09 | 0.81 | 1.17 | 409.57 | 35.84 | -12.54 | 8.59 | 11.04 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,690 | 1,729 | 1,724 | 1,719 | 1,745 | 1,963 | 2,031 | 2,151 | 2,160 | 2,255 | 2,266 | 2,258 | 2,598 | |
| 1,169 | 1,250 | 1,275 | 1,325 | 1,326 | 1,549 | 1,706 | 1,756 | 1,674 | 1,917 | 1,914 | 1,998 | 2,369 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 39 | 44 | 48 | 45 | 40 | 47 | 42 | 42 | 39 | 29 | 29 | 29 | 30 |
| Interest | 3 | 2 | 3 | 4 | 3 | 3 | 3 | 4 | 4 | 5 | 6 | 5 | 6 |
| Depreciation | 62 | 66 | 68 | 78 | 72 | 84 | 90 | 95 | 83 | 104 | 103 | 106 | 109 |
| 496 | 454 | 426 | 357 | 384 | 373 | 273 | 338 | 438 | 258 | 272 | 178 | 259 | |
| Tax % | 25.68% | 25.49% | 25.50% | 25.78% | 25.84% | 23.09% | 18.40% | 28.23% | 25.92% | 25.05% | 25.69% | 26.09% | 25.23% |
| Net Profit | 368 | 338 | 317 | 265 | 285 | 287 | 223 | 242 | 324 | 193 | 202 | 132 | 194 |
| 37 | 34 | 32 | 27 | 29 | 29 | 23 | 25 | 33 | 20 | 20 | 13 | 2 | |
| Equity Capital | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 1,690
- 1,169
- Operating Profit
- —
- OPM %
- —
- Other Income
- 39
- Interest
- 3
- Depreciation
- 62
- 496
- Tax %
- 25.68%
- Net Profit
- 368
- 37
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 1,729
- 1,250
- Operating Profit
- —
- OPM %
- —
- Other Income
- 44
- Interest
- 2
- Depreciation
- 66
- 454
- Tax %
- 25.49%
- Net Profit
- 338
- 34
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 1,724
- 1,275
- Operating Profit
- —
- OPM %
- —
- Other Income
- 48
- Interest
- 3
- Depreciation
- 68
- 426
- Tax %
- 25.50%
- Net Profit
- 317
- 32
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 1,719
- 1,325
- Operating Profit
- —
- OPM %
- —
- Other Income
- 45
- Interest
- 4
- Depreciation
- 78
- 357
- Tax %
- 25.78%
- Net Profit
- 265
- 27
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 1,745
- 1,326
- Operating Profit
- —
- OPM %
- —
- Other Income
- 40
- Interest
- 3
- Depreciation
- 72
- 384
- Tax %
- 25.84%
- Net Profit
- 285
- 29
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,963
- 1,549
- Operating Profit
- —
- OPM %
- —
- Other Income
- 47
- Interest
- 3
- Depreciation
- 84
- 373
- Tax %
- 23.09%
- Net Profit
- 287
- 29
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 2,031
- 1,706
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 3
- Depreciation
- 90
- 273
- Tax %
- 18.40%
- Net Profit
- 223
- 23
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 2,151
- 1,756
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 4
- Depreciation
- 95
- 338
- Tax %
- 28.23%
- Net Profit
- 242
- 25
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 2,160
- 1,674
- Operating Profit
- —
- OPM %
- —
- Other Income
- 39
- Interest
- 4
- Depreciation
- 83
- 438
- Tax %
- 25.92%
- Net Profit
- 324
- 33
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 2,255
- 1,917
- Operating Profit
- —
- OPM %
- —
- Other Income
- 29
- Interest
- 5
- Depreciation
- 104
- 258
- Tax %
- 25.05%
- Net Profit
- 193
- 20
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 2,266
- 1,914
- Operating Profit
- —
- OPM %
- —
- Other Income
- 29
- Interest
- 6
- Depreciation
- 103
- 272
- Tax %
- 25.69%
- Net Profit
- 202
- 20
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 2,258
- 1,998
- Operating Profit
- —
- OPM %
- —
- Other Income
- 29
- Interest
- 5
- Depreciation
- 106
- 178
- Tax %
- 26.09%
- Net Profit
- 132
- 13
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 2,598
- 2,369
- Operating Profit
- —
- OPM %
- —
- Other Income
- 30
- Interest
- 6
- Depreciation
- 109
- 259
- Tax %
- 25.23%
- Net Profit
- 194
- 2
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 99
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,034 | 2,233 | 2,791 | 2,972 | 2,153 | 3,560 | 6,299 | 6,245 | 7,261 | 8,240 | 9,377 | |
| 1,391 | 1,453 | 1,906 | 1,920 | 1,222 | 2,637 | 5,115 | 4,402 | 5,694 | 6,789 | 8,198 | |
| Operating Profit | 697 | 838 | 963 | 1,152 | 1,014 | 1,010 | 1,296 | 2,018 | 1,736 | 1,570 | — |
| OPM % | 34 | 38 | 35 | 39 | 47 | 28 | 21 | 32 | 24 | 19 | — |
| Other Income | 54 | 58 | 78 | 99 | 84 | 87 | 112 | 175 | 169 | 119 | 118 |
| Interest | 1 | 0 | 0 | 7 | 7 | 8 | 9 | 12 | 14 | 21 | 22 |
| Depreciation | 95 | 111 | 126 | 162 | 174 | 196 | 231 | 274 | 352 | 409 | 422 |
| 601 | 727 | 837 | 984 | 834 | 806 | 1,056 | 1,733 | 1,371 | 1,141 | 967 | |
| Tax % | 35 | 34 | 35 | 19 | 26 | 26 | 25 | 26 | 24 | 26 | 25 |
| Net Profit | 393 | 478 | 546 | 794 | 620 | 597 | 790 | 1,289 | 1,041 | 847 | 721 |
| EPS | 40 | 48 | 55 | 80 | 63 | 60 | 80 | 130 | 105 | 86 | — |
| Dividend Payout % | 48 | 39 | 36 | 44 | 37 | 41 | 33 | 23 | 28 | 35 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 40 | 48 | 55 | 80 | 63 | 60 | 80 | 130 | 105 | 86 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 40 | 48 | 55 | 80 | 63 | 60 | 80 | 130 | 105 | 86 | — |
Mar 2017
- 2,034
- 1,391
- Operating Profit
- 697
- OPM %
- 34
- Other Income
- 54
- Interest
- 1
- Depreciation
- 95
- 601
- Tax %
- 35
- Net Profit
- 393
- EPS
- 40
- Dividend Payout %
- 48
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
Mar 2018
- 2,233
- 1,453
- Operating Profit
- 838
- OPM %
- 38
- Other Income
- 58
- Interest
- 0
- Depreciation
- 111
- 727
- Tax %
- 34
- Net Profit
- 478
- EPS
- 48
- Dividend Payout %
- 39
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 48
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 48
Mar 2019
- 2,791
- 1,906
- Operating Profit
- 963
- OPM %
- 35
- Other Income
- 78
- Interest
- 0
- Depreciation
- 126
- 837
- Tax %
- 35
- Net Profit
- 546
- EPS
- 55
- Dividend Payout %
- 36
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 55
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 55
Mar 2020
- 2,972
- 1,920
- Operating Profit
- 1,152
- OPM %
- 39
- Other Income
- 99
- Interest
- 7
- Depreciation
- 162
- 984
- Tax %
- 19
- Net Profit
- 794
- EPS
- 80
- Dividend Payout %
- 44
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 80
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 80
Mar 2021
- 2,153
- 1,222
- Operating Profit
- 1,014
- OPM %
- 47
- Other Income
- 84
- Interest
- 7
- Depreciation
- 174
- 834
- Tax %
- 26
- Net Profit
- 620
- EPS
- 63
- Dividend Payout %
- 37
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 63
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 63
Mar 2022
- 3,560
- 2,637
- Operating Profit
- 1,010
- OPM %
- 28
- Other Income
- 87
- Interest
- 8
- Depreciation
- 196
- 806
- Tax %
- 26
- Net Profit
- 597
- EPS
- 60
- Dividend Payout %
- 41
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 60
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 60
Mar 2023
- 6,299
- 5,115
- Operating Profit
- 1,296
- OPM %
- 21
- Other Income
- 112
- Interest
- 9
- Depreciation
- 231
- 1,056
- Tax %
- 25
- Net Profit
- 790
- EPS
- 80
- Dividend Payout %
- 33
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 80
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 80
Mar 2024
- 6,245
- 4,402
- Operating Profit
- 2,018
- OPM %
- 32
- Other Income
- 175
- Interest
- 12
- Depreciation
- 274
- 1,733
- Tax %
- 26
- Net Profit
- 1,289
- EPS
- 130
- Dividend Payout %
- 23
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 130
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 130
Mar 2025
- 7,261
- 5,694
- Operating Profit
- 1,736
- OPM %
- 24
- Other Income
- 169
- Interest
- 14
- Depreciation
- 352
- 1,371
- Tax %
- 24
- Net Profit
- 1,041
- EPS
- 105
- Dividend Payout %
- 28
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 105
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 105
Mar 2026
- 8,240
- 6,789
- Operating Profit
- 1,570
- OPM %
- 19
- Other Income
- 119
- Interest
- 21
- Depreciation
- 409
- 1,141
- Tax %
- 26
- Net Profit
- 847
- EPS
- 86
- Dividend Payout %
- 35
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 86
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 86
TTM
- 9,377
- 8,198
- Operating Profit
- —
- OPM %
- —
- Other Income
- 118
- Interest
- 22
- Depreciation
- 422
- 967
- Tax %
- 25
- Net Profit
- 721
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 31%
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 11%
- 5 Years:
- 6%
- 3 Years:
- 2%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- 1%
- 3 Years:
- 5%
- 1 Year:
- -15%
RETURN ON EQUITY
- 10 Years:
- 22%
- 5 Years:
- 20%
- 3 Years:
- 20%
- Last Year:
- 14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 |
| 1,741 | 1,997 | 2,300 | 2,854 | 3,134 | 3,499 | 4,035 | 5,044 | 5,780 | 6,335 | |
| Trade Payables | 120 | 110 | 152 | 132 | 156 | 272 | 322 | 334 | 431 | 476 |
| 664 | 805 | 890 | 1,044 | 1,213 | 1,365 | 1,576 | 1,749 | 1,975 | 2,055 | |
| Total Liabilities | 2,624 | 3,010 | 3,441 | 4,128 | 4,601 | 5,234 | 6,032 | 7,226 | 8,284 | 8,965 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1,305 | 1,532 | 1,763 | 2,049 | 2,169 | 2,614 | 3,026 | 3,543 | 4,844 | 5,373 | |
| Capital Work in Progress | 412 | 357 | 370 | 487 | 560 | 616 | 709 | 774 | 1,062 | 1,259 |
| 467 | 688 | 654 | 1,121 | 1,025 | 1,088 | 1,310 | 1,636 | 1,178 | 1,169 | |
| 24 | 24 | 19 | 19 | 22 | 27 | 34 | 40 | 52 | 62 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 281 | 363 | 458 | |
| Cash & Bank | 136 | 92 | 299 | 229 | 512 | 465 | 228 | 398 | 333 | 114 |
| 281 | 318 | 336 | 223 | 313 | 423 | 726 | 554 | 452 | 529 | |
| Total Assets | 2,624 | 3,010 | 3,441 | 4,128 | 4,601 | 5,234 | 6,032 | 7,226 | 8,284 | 8,965 |
| Total Debt | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 165 | 252 | 353 | 558 | 643 | 518 | 445 | 191 | 55 | -124 |
| Contingent Liabilities | 316 | 170 | 30 | 30 | 460 | 40 | 40 | 314 | 441 | 551 |
| Book Value per Share | 186.28 | 212.13 | 242.86 | 298.92 | 327.24 | 364.17 | 418.53 | 520.64 | 595.11 | 651.37 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 165 | 252 | 353 | 558 | 643 | 518 | 445 | 191 | 55 | -124 |
| Contingent Liabilities | 316 | 170 | 30 | 30 | 460 | 40 | 40 | 314 | 441 | 551 |
| Book Value per Share | 186.28 | 212.13 | 242.86 | 298.92 | 327.24 | 364.17 | 418.53 | 520.64 | 595.11 | 651.37 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 99
- 1,741
- Trade Payables
- 120
- 664
- Total Liabilities
- 2,624
- 1,305
- Capital Work in Progress
- 412
- 467
- 24
- 0
- Cash & Bank
- 136
- 281
- Total Assets
- 2,624
- Total Debt
- 3
- Net Working Capital
- 165
- Contingent Liabilities
- 316
- Book Value per Share
- 186.28
- Face Value
- 10.00
- Total Debt
- 3
- Net Working Capital
- 165
- Contingent Liabilities
- 316
- Book Value per Share
- 186.28
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 99
- 1,997
- Trade Payables
- 110
- 805
- Total Liabilities
- 3,010
- 1,532
- Capital Work in Progress
- 357
- 688
- 24
- 0
- Cash & Bank
- 92
- 318
- Total Assets
- 3,010
- Total Debt
- 1
- Net Working Capital
- 252
- Contingent Liabilities
- 170
- Book Value per Share
- 212.13
- Face Value
- 10.00
- Total Debt
- 1
- Net Working Capital
- 252
- Contingent Liabilities
- 170
- Book Value per Share
- 212.13
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 99
- 2,300
- Trade Payables
- 152
- 890
- Total Liabilities
- 3,441
- 1,763
- Capital Work in Progress
- 370
- 654
- 19
- 0
- Cash & Bank
- 299
- 336
- Total Assets
- 3,441
- Total Debt
- 0
- Net Working Capital
- 353
- Contingent Liabilities
- 30
- Book Value per Share
- 242.86
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 353
- Contingent Liabilities
- 30
- Book Value per Share
- 242.86
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 99
- 2,854
- Trade Payables
- 132
- 1,044
- Total Liabilities
- 4,128
- 2,049
- Capital Work in Progress
- 487
- 1,121
- 19
- 0
- Cash & Bank
- 229
- 223
- Total Assets
- 4,128
- Total Debt
- 0
- Net Working Capital
- 558
- Contingent Liabilities
- 30
- Book Value per Share
- 298.92
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 558
- Contingent Liabilities
- 30
- Book Value per Share
- 298.92
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 99
- 3,134
- Trade Payables
- 156
- 1,213
- Total Liabilities
- 4,601
- 2,169
- Capital Work in Progress
- 560
- 1,025
- 22
- 0
- Cash & Bank
- 512
- 313
- Total Assets
- 4,601
- Total Debt
- 0
- Net Working Capital
- 643
- Contingent Liabilities
- 460
- Book Value per Share
- 327.24
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 643
- Contingent Liabilities
- 460
- Book Value per Share
- 327.24
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 99
- 3,499
- Trade Payables
- 272
- 1,365
- Total Liabilities
- 5,234
- 2,614
- Capital Work in Progress
- 616
- 1,088
- 27
- 0
- Cash & Bank
- 465
- 423
- Total Assets
- 5,234
- Total Debt
- 0
- Net Working Capital
- 518
- Contingent Liabilities
- 40
- Book Value per Share
- 364.17
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 518
- Contingent Liabilities
- 40
- Book Value per Share
- 364.17
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 99
- 4,035
- Trade Payables
- 322
- 1,576
- Total Liabilities
- 6,032
- 3,026
- Capital Work in Progress
- 709
- 1,310
- 34
- 0
- Cash & Bank
- 228
- 726
- Total Assets
- 6,032
- Total Debt
- 0
- Net Working Capital
- 445
- Contingent Liabilities
- 40
- Book Value per Share
- 418.53
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 445
- Contingent Liabilities
- 40
- Book Value per Share
- 418.53
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 99
- 5,044
- Trade Payables
- 334
- 1,749
- Total Liabilities
- 7,226
- 3,543
- Capital Work in Progress
- 774
- 1,636
- 40
- 281
- Cash & Bank
- 398
- 554
- Total Assets
- 7,226
- Total Debt
- 0
- Net Working Capital
- 191
- Contingent Liabilities
- 314
- Book Value per Share
- 520.64
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 191
- Contingent Liabilities
- 314
- Book Value per Share
- 520.64
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 99
- 5,780
- Trade Payables
- 431
- 1,975
- Total Liabilities
- 8,284
- 4,844
- Capital Work in Progress
- 1,062
- 1,178
- 52
- 363
- Cash & Bank
- 333
- 452
- Total Assets
- 8,284
- Total Debt
- 0
- Net Working Capital
- 55
- Contingent Liabilities
- 441
- Book Value per Share
- 595.11
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 55
- Contingent Liabilities
- 441
- Book Value per Share
- 595.11
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 99
- 6,335
- Trade Payables
- 476
- 2,055
- Total Liabilities
- 8,965
- 5,373
- Capital Work in Progress
- 1,259
- 1,169
- 62
- 458
- Cash & Bank
- 114
- 529
- Total Assets
- 8,965
- Total Debt
- 0
- Net Working Capital
- -124
- Contingent Liabilities
- 551
- Book Value per Share
- 651.37
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- -124
- Contingent Liabilities
- 551
- Book Value per Share
- 651.37
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 532 | 652 | 685 | 985 | 806 | 904 | 969 | 1,563 | 1,420 | 1,147 | |
| Cash from Investing | -263 | -419 | -439 | -755 | -444 | -539 | -649 | -1,267 | -1,056 | -874 |
| Cash from Financing | -284 | -226 | -235 | -242 | -349 | -310 | -285 | -312 | -341 | -368 |
| -15 | 8 | 12 | -11 | 13 | 54 | 35 | -15 | 22 | -95 | |
| Free Cash Flow | 279 | 370 | 316 | 425 | 439 | 255 | 262 | 738 | -460 | 31 |
| OCF / Net Profit | 1.35 | 1.36 | 1.25 | 1.24 | 1.30 | 1.51 | 1.23 | 1.21 | 1.36 | 1.36 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,829 | 1,804 | 1,696 | 2,118 | 1,233 | 826 |
| OCF / Net Profit | 1.35 | 1.36 | 1.25 | 1.24 | 1.30 | 1.51 | 1.23 | 1.21 | 1.36 | 1.36 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,829 | 1,804 | 1,696 | 2,118 | 1,233 | 826 |
Mar 2017
- 532
- Cash from Investing
- -263
- Cash from Financing
- -284
- -15
- Free Cash Flow
- 279
- OCF / Net Profit
- 1.35
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.35
- Cumulative 5-Year FCF
- 0
Mar 2018
- 652
- Cash from Investing
- -419
- Cash from Financing
- -226
- 8
- Free Cash Flow
- 370
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 0
Mar 2019
- 685
- Cash from Investing
- -439
- Cash from Financing
- -235
- 12
- Free Cash Flow
- 316
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 0
Mar 2020
- 985
- Cash from Investing
- -755
- Cash from Financing
- -242
- -11
- Free Cash Flow
- 425
- OCF / Net Profit
- 1.24
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.24
- Cumulative 5-Year FCF
- 0
Mar 2021
- 806
- Cash from Investing
- -444
- Cash from Financing
- -349
- 13
- Free Cash Flow
- 439
- OCF / Net Profit
- 1.30
- Cumulative 5-Year FCF
- 1,829
- OCF / Net Profit
- 1.30
- Cumulative 5-Year FCF
- 1,829
Mar 2022
- 904
- Cash from Investing
- -539
- Cash from Financing
- -310
- 54
- Free Cash Flow
- 255
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 1,804
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 1,804
Mar 2023
- 969
- Cash from Investing
- -649
- Cash from Financing
- -285
- 35
- Free Cash Flow
- 262
- OCF / Net Profit
- 1.23
- Cumulative 5-Year FCF
- 1,696
- OCF / Net Profit
- 1.23
- Cumulative 5-Year FCF
- 1,696
Mar 2024
- 1,563
- Cash from Investing
- -1,267
- Cash from Financing
- -312
- -15
- Free Cash Flow
- 738
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 2,118
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 2,118
Mar 2025
- 1,420
- Cash from Investing
- -1,056
- Cash from Financing
- -341
- 22
- Free Cash Flow
- -460
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 1,233
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 1,233
Mar 2026
- 1,147
- Cash from Investing
- -874
- Cash from Financing
- -368
- -95
- Free Cash Flow
- 31
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 826
- OCF / Net Profit
- 1.36
- Cumulative 5-Year FCF
- 826
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 39.83 | 48.38 | 55.31 | 80.33 | 62.72 | 60.43 | 79.98 | 130.50 | 105.41 | 85.73 |
| Book Value (₹) | 186.28 | 212.13 | 242.86 | 298.92 | 327.24 | 364.17 | 418.53 | 520.64 | 595.11 | 651.37 |
| Dividend per Share (₹) | 19.00 | 19.00 | 20.00 | 35.00 | 23.00 | 25.00 | 26.00 | 30.00 | 30.00 | 30.00 |
| Cash EPS (₹) | 49.46 | 59.63 | 68.06 | 96.71 | 80.31 | 80.30 | 103.38 | 158.20 | 141.01 | 127.15 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 31.12% | 34.15% | 31.51% | 35.28% | 43.39% | 26.00% | 18.73% | 26.85% | 19.64% | 16.02% |
| Net Margin % | 17.57% | 19.48% | 17.87% | 24.31% | 26.50% | 15.37% | 11.42% | 18.79% | 13.05% | 9.35% |
| ROE % | 22.05% | 24.29% | 24.32% | 29.66% | 20.03% | 17.48% | 20.44% | 27.79% | 18.90% | 13.76% |
| ROCE % | 33.65% | 36.89% | 37.25% | 37.00% | 27.19% | 23.83% | 27.55% | 37.60% | 25.12% | 18.86% |
| 15.75% | 16.96% | 16.94% | 20.97% | 14.20% | 12.14% | 14.03% | 19.45% | 13.43% | 9.82% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 15 | 14 | 11 | 9 | 15 | 15 | 13 | 15 | 15 | 17 |
| Inventory Days | 3 | 4 | 3 | 2 | 3 | 2 | 2 | 2 | 2 | 2 |
| Payable Days | 42 | 41 | 34 | 38 | 70 | 38 | 24 | 33 | 30 | 29 |
| -23 | -24 | -20 | -26 | -52 | -21 | -10 | -16 | -13 | -11 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 589.25x | 8037.65x | 2593.66x | 151.73x | 116.87x | 108.07x | 113.41x | 151.28x | 100.32x | 56.45x |
| 1.26x | 1.35x | 1.43x | 1.59x | 1.58x | 1.39x | 1.29x | 1.11x | 1.03x | 0.94x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -2.13% | 9.79% | 24.99% | 6.49% | -27.58% | 65.40% | 76.94% | -0.87% | 16.28% | 13.48% |
| Operating Profit Growth % | 25.22% | 20.23% | 14.97% | 19.58% | -11.92% | -0.43% | 28.32% | 55.70% | -13.97% | -9.55% |
| Net Profit Growth % | 26.55% | 21.46% | 14.34% | 45.23% | -21.92% | -3.65% | 32.35% | 63.16% | -19.22% | -18.67% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 63.16% | -19.22% | -18.67% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 10.45x | 13.15x | 10.81x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.62x | 2.33x | 1.42x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.20% | 2.16% | 3.24% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.48x | 7.70x | 5.76x |
Mar 2017
- EPS (₹)
- 39.83
- Book Value (₹)
- 186.28
- Dividend per Share (₹)
- 19.00
- Cash EPS (₹)
- 49.46
- Operating Margin %
- 31.12%
- Net Margin %
- 17.57%
- ROE %
- 22.05%
- ROCE %
- 33.65%
- 15.75%
- Debtor Days
- 15
- Inventory Days
- 3
- Payable Days
- 42
- -23
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 589.25x
- 1.26x
- Revenue Growth %
- -2.13%
- Operating Profit Growth %
- 25.22%
- Net Profit Growth %
- 26.55%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 48.38
- Book Value (₹)
- 212.13
- Dividend per Share (₹)
- 19.00
- Cash EPS (₹)
- 59.63
- Operating Margin %
- 34.15%
- Net Margin %
- 19.48%
- ROE %
- 24.29%
- ROCE %
- 36.89%
- 16.96%
- Debtor Days
- 14
- Inventory Days
- 4
- Payable Days
- 41
- -24
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 8037.65x
- 1.35x
- Revenue Growth %
- 9.79%
- Operating Profit Growth %
- 20.23%
- Net Profit Growth %
- 21.46%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 55.31
- Book Value (₹)
- 242.86
- Dividend per Share (₹)
- 20.00
- Cash EPS (₹)
- 68.06
- Operating Margin %
- 31.51%
- Net Margin %
- 17.87%
- ROE %
- 24.32%
- ROCE %
- 37.25%
- 16.94%
- Debtor Days
- 11
- Inventory Days
- 3
- Payable Days
- 34
- -20
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 2593.66x
- 1.43x
- Revenue Growth %
- 24.99%
- Operating Profit Growth %
- 14.97%
- Net Profit Growth %
- 14.34%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 80.33
- Book Value (₹)
- 298.92
- Dividend per Share (₹)
- 35.00
- Cash EPS (₹)
- 96.71
- Operating Margin %
- 35.28%
- Net Margin %
- 24.31%
- ROE %
- 29.66%
- ROCE %
- 37.00%
- 20.97%
- Debtor Days
- 9
- Inventory Days
- 2
- Payable Days
- 38
- -26
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 151.73x
- 1.59x
- Revenue Growth %
- 6.49%
- Operating Profit Growth %
- 19.58%
- Net Profit Growth %
- 45.23%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 62.72
- Book Value (₹)
- 327.24
- Dividend per Share (₹)
- 23.00
- Cash EPS (₹)
- 80.31
- Operating Margin %
- 43.39%
- Net Margin %
- 26.50%
- ROE %
- 20.03%
- ROCE %
- 27.19%
- 14.20%
- Debtor Days
- 15
- Inventory Days
- 3
- Payable Days
- 70
- -52
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 116.87x
- 1.58x
- Revenue Growth %
- -27.58%
- Operating Profit Growth %
- -11.92%
- Net Profit Growth %
- -21.92%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 60.43
- Book Value (₹)
- 364.17
- Dividend per Share (₹)
- 25.00
- Cash EPS (₹)
- 80.30
- Operating Margin %
- 26.00%
- Net Margin %
- 15.37%
- ROE %
- 17.48%
- ROCE %
- 23.83%
- 12.14%
- Debtor Days
- 15
- Inventory Days
- 2
- Payable Days
- 38
- -21
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 108.07x
- 1.39x
- Revenue Growth %
- 65.40%
- Operating Profit Growth %
- -0.43%
- Net Profit Growth %
- -3.65%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 79.98
- Book Value (₹)
- 418.53
- Dividend per Share (₹)
- 26.00
- Cash EPS (₹)
- 103.38
- Operating Margin %
- 18.73%
- Net Margin %
- 11.42%
- ROE %
- 20.44%
- ROCE %
- 27.55%
- 14.03%
- Debtor Days
- 13
- Inventory Days
- 2
- Payable Days
- 24
- -10
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 113.41x
- 1.29x
- Revenue Growth %
- 76.94%
- Operating Profit Growth %
- 28.32%
- Net Profit Growth %
- 32.35%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 130.50
- Book Value (₹)
- 520.64
- Dividend per Share (₹)
- 30.00
- Cash EPS (₹)
- 158.20
- Operating Margin %
- 26.85%
- Net Margin %
- 18.79%
- ROE %
- 27.79%
- ROCE %
- 37.60%
- 19.45%
- Debtor Days
- 15
- Inventory Days
- 2
- Payable Days
- 33
- -16
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 151.28x
- 1.11x
- Revenue Growth %
- -0.87%
- Operating Profit Growth %
- 55.70%
- Net Profit Growth %
- 63.16%
- 63.16%
- P/E (x)
- 10.45x
- P/B (x)
- 2.62x
- Dividend Yield %
- 2.20%
- 6.48x
Mar 2025
- EPS (₹)
- 105.41
- Book Value (₹)
- 595.11
- Dividend per Share (₹)
- 30.00
- Cash EPS (₹)
- 141.01
- Operating Margin %
- 19.64%
- Net Margin %
- 13.05%
- ROE %
- 18.90%
- ROCE %
- 25.12%
- 13.43%
- Debtor Days
- 15
- Inventory Days
- 2
- Payable Days
- 30
- -13
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 100.32x
- 1.03x
- Revenue Growth %
- 16.28%
- Operating Profit Growth %
- -13.97%
- Net Profit Growth %
- -19.22%
- -19.22%
- P/E (x)
- 13.15x
- P/B (x)
- 2.33x
- Dividend Yield %
- 2.16%
- 7.70x
Mar 2026
- EPS (₹)
- 85.73
- Book Value (₹)
- 651.37
- Dividend per Share (₹)
- 30.00
- Cash EPS (₹)
- 127.15
- Operating Margin %
- 16.02%
- Net Margin %
- 9.35%
- ROE %
- 13.76%
- ROCE %
- 18.86%
- 9.82%
- Debtor Days
- 17
- Inventory Days
- 2
- Payable Days
- 29
- -11
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 56.45x
- 0.94x
- Revenue Growth %
- 13.48%
- Operating Profit Growth %
- -9.55%
- Net Profit Growth %
- -18.67%
- -18.67%
- P/E (x)
- 10.81x
- P/B (x)
- 1.42x
- Dividend Yield %
- 3.24%
- 5.76x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-07 - Mahanagar Gas Limited has informed the Exchange about Transcript
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-06 - Mahanagar Gas Limited has informed the Exchange about Schedule of meet
Annual Reports
Credit Ratings
- Credit Rating
2025-11-28 - Mahanagar Gas Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
Jul 2026
May 2026