Mahanagar Gas Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Efficient capital deployment (ROCE 17%)
- Attractively valued vs sector (P/E 14.1x vs industry 23.9x)
- Virtually debt-free
- Regular dividends — yield 2.9%
Concerns
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| RELIANCE Reliance Industries Limited | ₹1,158 | ₹16.1L Cr | 21.6 | 1.73 | 8.91 | 10.3 | 0.45 |
| ONGC Oil & Natural Gas Corporation Limited | ₹225 | ₹2.9L Cr | 6.55 | 0.76 | 11.6 | 14.2 | 0.48 |
| COALINDIA Coal India Limited | ₹392 | ₹2.4L Cr | 7.85 | 2.03 | 28.2 | 35 | 0.13 |
| IOC Indian Oil Corporation Limited | ₹130 | ₹1.8L Cr | 5.42 | 0.84 | 20.5 | 18.7 | 0.74 |
| BPCL Bharat Petroleum Corporation Limited | ₹287 | ₹1.2L Cr | 8.71 | 1.23 | 28.8 | 25.6 | 0.62 |
| GAIL GAIL (India) Limited | ₹165 | ₹1.1L Cr | 10.9 | 1.22 | 8.71 | 9.67 | 0.25 |
| OIL Oil India Limited | ₹448 | ₹73K Cr | 8.72 | 1.25 | 12.2 | 11.5 | 0.64 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
MGL · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 32.50% | 32.50% | 32.50% | 32.50% | 32.50% | 32.50% |
| FII | 30.85% | 30.54% | 31.49% | 34.20% | 25.75% | 23.76% |
| DII | 17.23% | 17.40% | 16.67% | 15.46% | 21.10% | 23.82% |
| Public | 9.43% | 9.55% | 9.32% | 7.84% | 10.64% | 9.92% |
| Govt | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% |
Corporate Events
To consider and approve the financial results for the period ended September 30, 2026
Dividend - Rs 18 Per Share
To consider and approve the financial results for the period ended Jun 30, 2026
To consider and approve the financial results for the period ended March 31, 2026 and Final dividend
Interim Dividend - Rs 12 Per Share
Dividend - Rs 18 Per Share
Interim Dividend - Rs 12 Per Share
Annual General Meeting/Dividend - Rs 18 Per Share
Interim Dividend - Rs 12 Per Share
Annual General Meeting/Dividend - Rs 16 Per Share
Latest News
All newsMTNL sees spurt in trading volume; NSE seeks details
*MTNL sees spurt in trading volume; NSE seeks details.* The National Stock Exchange has queried MTNL after a significant spike in trading volume, aiming to safeguard investor interests. The company has submitted its response to the exchange. No major corporate announcement was reported, but unusual volume often precedes news or speculation. 📊 *STOCKS:* $MTNL | 🏢 *SECTOR:* Telecom | #MEDIUMIMPACT #VolumeSpurt
MTNL assigned credit rating with stable outlook
*MTNL assigned credit rating with stable outlook.* The rating reflects MTNL's status as a government-owned telecom PSU with moderate financial risk. The outlook remains stable, indicating no immediate credit upgrades or downgrades expected. Financial metrics remain under pressure due to legacy debt and competitive market. 📊 *STOCKS:* $MTNL | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #CreditRating
Mahanagar Gas reports Q1 FY26 financial results
*Mahanagar Gas reports Q1 FY26 financial results*. The company has submitted its financial results for the quarter ended June 30, 2026. Key figures include revenue of **₹427 crore** and net profit of **₹103 crore**, showing a **12% YoY growth** in profitability. Results reflect steady demand in the city gas distribution segment. 📊 *STOCKS:* MGL | 🏢 *SECTOR:* NaturalGas | #MEDIUMIMPACT #Earnings
MTNL defaults on bank loan payments as of June 2026
*MTNL defaults on bank loan payments as of June 2026.* The company has defaulted on **principal and interest payments** to banks, per a regulatory filing under SEBI LODR. This indicates severe financial stress and potential credit downgrade. The development raises concerns over MTNL’s ongoing viability and debt restructuring plans. 📊 *STOCKS:* MTNL | 🏢 *SECTOR:* Telecom | #HIGHIMPACT #default
MTNL defaults on loan principal and interest payments
*MTNL defaults on loan principal and interest payments* as of May 31, 2026. The company disclosed the default under Regulation 30 of SEBI (LODR) to inform investors. This breach involves **non-payment of principal instalments and interest** to banks, signaling financial stress. The disclosure follows SEBI’s mandatory listing obligation for material events. 📊 *STOCKS:* MTNL | 🏢 *SECTOR:* Telecom | #HIGHIMPACT #default
MTNL hit with fine by TRAI
*MTNL hit with fine by TRAI* — Mahanagar Telephone Nigam Limited has been imposed a penalty by the Telecom Regulatory Authority of India (TRAI). The company disclosed the event under Regulation 30 and 51 of SEBI (LODR) 2015 for compliance purposes. The fine relates to regulatory non-compliances in telecom operations. Specific penalty amount is not mentioned in the filing. 📊 *STOCKS:* $MTNL | 🏢 *SECTOR:* Telecom | #MEDIUMIMPACT #Regulation
MTNL sells Powai property to Income Tax Dept via G2G
*MTNL sells Powai property to Income Tax Dept via G2G*. MTNL has sold its property at Powai, Mumbai — Plot-C, Technology Street — to the Income Tax Department through a government-to-government (G2G) transfer. The transaction is part of the company's compliance under SEBI (LODR) Regulations, 2015. Specific sale value not disclosed. 📊 *STOCKS:* $MTNL | 🏢 *SECTOR:* Telecom | #MEDIUMIMPACT #AssetSale
MTNL hit by TRAI penalty, regulatory compliance disclosed
*MTNL hit by TRAI penalty, regulatory compliance disclosed.* The company has disclosed the imposition of a fine by TRAI under Regulation 30 & 51 of SEBI (LODR) norms. Such penalties may affect investor sentiment and financial outflow. Compliance disclosures highlight regulatory scrutiny. 📊 *STOCKS:* MTNL | 🏢 *SECTOR:* Telecom | #MEDIUMIMPACT #Regulation
MTNL fails to fund interest in escrow account
*MTNL fails to fund interest in escrow account.* The company has not deposited the 6th semi-annual interest amount for its Bond Series VIIIA (INE153A08154) into the Bank of India escrow account. This is a violation of SEBI (LODR) Regulations, 2015, specifically Regulation 30 & 51. The move raises concerns over debt servicing and compliance. 📊 *STOCKS:* MTNL | 🏢 *SECTOR:* Telecom | #MEDIUMIMPACT #MTNL
MTNL fails to fund ₹11th semi-annual bond interest escrow
*MTNL fails to fund ₹11th semi-annual bond interest escrow.* MTNL has not funded the 11th semi-annual interest payment into the escrow account for its Bond Series VI, as mandated under SEBI LODR Regulations. This non-funding may trigger concerns over debt servicing and compliance. Investors may react to potential credit risk implications. 📊 *STOCKS:* MTNL | 🏢 *SECTOR:* Telecom | #MEDIUMIMPACT #MTNL
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2.1K Cr 0.5% | ₹2.0K Cr 1.6% | ₹2.1K Cr 6.1% | ₹2.0K Cr 6.3% | ₹1.8K Cr 3.4% | ₹1.8K Cr 7.2% | ₹1.7K Cr 3.3% | ₹1.6K Cr |
| Op. Profit | ₹351 Cr 4.5% | ₹336 Cr 32.8% | ₹500 Cr 26.9% | ₹394 Cr 21.2% | ₹325 Cr 21.3% | ₹413 Cr 5.5% | ₹437 Cr 10.6% | ₹395 Cr |
| OPM | 17.0% 6.3% | 16.0% 33.3% | 24.0% 20.0% | 20.0% 11.1% | 18.0% 21.7% | 23.0% 11.5% | 26.0% 8.3% | 24.0% |
| Net Profit | ₹201 Cr 5.2% | ₹191 Cr 40.1% | ₹319 Cr 29.1% | ₹247 Cr 11.8% | ₹221 Cr 23.0% | ₹287 Cr 0.7% | ₹289 Cr 10.7% | ₹261 Cr |
| EPS (₹) | 20.36 5.1% | 19.37 40.0% | 32.26 29.0% | 25.01 11.7% | 22.4 22.8% | 29.03 0.7% | 29.24 10.8% | 26.38 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| Revenue | ₹8.2K Cr 13.5% | ₹7.3K Cr 15.5% | ₹6.3K Cr 0.1% | ₹6.3K Cr |
| Expenses | ₹6.8K Cr 19.4% | ₹5.7K Cr 28.1% | ₹4.4K Cr 13.1% | ₹5.1K Cr |
| Op. Profit | ₹1.4K Cr 7.8% | ₹1.6K Cr 14.9% | ₹1.8K Cr 55.7% | ₹1.2K Cr |
| OPM | 18.0% 18.2% | 22.0% 24.1% | 29.0% 52.6% | 19.0% |
| Other Income | ₹120 Cr 28.1% | ₹167 Cr 4.6% | ₹175 Cr 56.3% | ₹112 Cr |
| Interest | ₹21 Cr 50.0% | ₹14 Cr 7.7% | ₹13 Cr 44.4% | ₹9 Cr |
| Depreciation | ₹410 Cr 16.5% | ₹352 Cr 27.1% | ₹277 Cr 19.9% | ₹231 Cr |
| PBT | ₹1.1K Cr 17.2% | ₹1.4K Cr 20.7% | ₹1.7K Cr 63.6% | ₹1.1K Cr |
| Tax % | 26.0% 8.3% | 24.0% 7.7% | 26.0% 4.0% | 25.0% |
| Net Profit | ₹841 Cr 19.1% | ₹1.0K Cr 19.1% | ₹1.3K Cr 62.7% | ₹790 Cr |
| EPS (₹) | 85.16 19.1% | 105.31 19.0% | 130.06 62.6% | 79.98 |
| Div Payout | 35.0% 25.0% | 28.0% 21.7% | 23.0% 15.0% | 20.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Liabilities | |||||
| Equity Capital | ₹99 Cr 0.0% | ₹99 Cr 0.0% | ₹99 Cr 0.0% | ₹99 Cr 0.0% | ₹99 Cr |
| Reserves | ₹6.3K Cr 3.6% | ₹6.1K Cr 5.7% | ₹5.8K Cr 14.7% | ₹5.0K Cr 24.9% | ₹4.0K Cr |
| Borrowings | ₹223 Cr 0.9% | ₹221 Cr 10.0% | ₹201 Cr 42.6% | ₹141 Cr 22.6% | ₹115 Cr |
| Other Liabilities | ₹2.3K Cr 4.3% | ₹2.2K Cr 0.5% | ₹2.2K Cr 12.6% | ₹2.0K Cr 10.7% | ₹1.8K Cr |
| Total Liabilities | ₹9.0K Cr 3.6% | ₹8.7K Cr 4.4% | ₹8.3K Cr 14.5% | ₹7.3K Cr 20.2% | ₹6.0K Cr |
Assets | |||||
| Fixed Assets | ₹5.4K Cr 7.1% | ₹5.0K Cr 3.7% | ₹4.9K Cr 14.6% | ₹4.2K Cr 40.0% | ₹3.0K Cr |
| CWIP | ₹1.3K Cr 8.4% | ₹1.2K Cr 9.7% | ₹1.1K Cr 29.8% | ₹823 Cr 16.1% | ₹709 Cr |
| Investments | ₹1.1K Cr 5.7% | ₹1.2K Cr 4.8% | ₹1.2K Cr 8.7% | ₹1.1K Cr 18.4% | ₹1.3K Cr |
| Other Assets | ₹1.2K Cr 5.7% | ₹1.2K Cr 2.0% | ₹1.2K Cr 8.2% | ₹1.1K Cr 14.0% | ₹988 Cr |
| Total Assets | ₹9.0K Cr 3.6% | ₹8.7K Cr 4.4% | ₹8.3K Cr 14.5% | ₹7.3K Cr 20.2% | ₹6.0K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| Operating CF | ₹1.2K Cr 17.4% | ₹1.4K Cr 10.3% | ₹1.6K Cr 61.8% | ₹969 Cr |
| Investing CF | ₹-888 Cr 15.7% | ₹-1.1K Cr 0.4% | ₹-1.1K Cr 62.9% | ₹-649 Cr |
| Financing CF | ₹-369 Cr 11.1% | ₹-332 Cr 33.5% | ₹-499 Cr 75.1% | ₹-285 Cr |
| Net Cash Flow | ₹-95 Cr 531.8% | ₹22 Cr 100.0% | ₹11 Cr 68.6% | ₹35 Cr |
| Free Cash Flow | ₹88 Cr 61.6% | ₹229 Cr 70.9% | ₹786 Cr 205.8% | ₹257 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| Debtor Days | 20d 11.1% | 18d 5.9% | 17d 0.0% | 17d |
| Inventory Days | 4d 0.0% | 4d 0.0% | 4d 33.3% | 3d |
| Days Payable | 31d 8.8% | 34d 2.9% | 35d 34.6% | 26d |
| Cash Conv. Cycle | -7d 36.4% | -11d 15.4% | -13d 85.7% | -7d |
| Working Capital Days | -56d 15.2% | -66d 8.3% | -72d 14.3% | -63d |
| ROCE | 17.0% 26.1% | 23.0% 32.4% | 34.0% | — |
Source: Screener.in · Lower days = better efficiency