āagman

Not investment advice. Data and computed figures, for information only.

Mahanagar Gas Ltd

NSE: MGL
₹1,047.40
+₹11.70 (+1.13%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹10,301 Cr
CMP
₹1,047.40
52-wk High / Low
₹1,329 / 900
P/E
14.4
P/B
1.6
Book Value
₹651.0
Div Yield
2.88%
ROCE
17.0%
ROE
12.2%
Face Value
₹10
D/E
0.03

Price−19.1% over 1Y

āagman read

Computed by āagman
Derived from 4 years and 14 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹1,117
√(22.5 × EPS × book value per share)
ROIC
11.5%
vs 9.7% sector median
Cash flow to profit
1.38
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−959
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
7.1%
ROE × earnings retention ratio
ROE stability
4.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.92DII +1.52
Latest quarter vs the previous one
Cash-accrual divergence
−3.7%
of assets
Low = accruals track cash flow
Strengths
Watch-outs
−Latest ROCE of 17% trails the sector median of 17.5%
−Price trades below its 200-day moving average (1.0x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,5381,5711,5691,6131,6661,7861,8471,9642,0832,0502,0602,0522,373
Expenses1,0171,0921,1201,2181,2291,3731,5231,5701,5831,7141,7091,7942,030
Operating Profit521479449395437413325394500336351258342
OPM %33.9%30.5%28.6%24.5%26.2%23.1%17.6%20.1%24.0%16.4%17.0%12.6%14.4%
Other Income39444844364742423229302930
Interest3236333455656
Depreciation626668818384919396104104106109
Profit before tax496454426352386373272339431256271176258
Net Profit368338317261289287221247319191201130193
EPS (₹)37.3034.2732.1126.3829.2429.0322.4025.0132.2619.3720.3613.1519.54

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 4 years + TTM
Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,2996,2907,2648,2468,535
Expenses5,1154,4465,6956,8007,247
Operating Profit1,1841,8441,5691,4461,288
OPM %18.8%29.3%21.6%17.5%15.1%
Other Income112175167120118
Interest913142122
Depreciation231277352410423
Profit before tax1,0561,7281,3701,135961
Net Profit7901,2851,040841715
EPS (₹)79.98130.06105.3185.1672.42

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital99999999—
Reserves4,0355,0405,7796,329—
Borrowings115141201223—
Other Liabilities1,7831,9742,2232,331—
Total Liabilities6,0327,2538,3028,981—
Fixed Assets3,0264,2354,8545,392—
CWIP7098231,0681,270—
Investments1,3101,0691,1621,148—
Other Assets9881,1261,2181,171—
Total Assets6,0327,2538,3028,981—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity9691,5681,4071,162
Cash from Investing Activity−649−1,057−1,053−888
Cash from Financing Activity−285−499−332−369
Net Cash Flow351122−95

Ratios

As of 31 Mar 2026
4 periods
Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—34.023.017.0
ROE %———12.2
EPS (₹)79.98130.06105.3185.16
Book Value (₹)———651.0
Face Value (₹)———10
P/E———14.4
Div Yield %———2.88
NPM %12.319.914.010.1
OPM %19.029.022.018.0
D/E0.030.030.030.03
P/B———1.6

Growth

As of 11 Oct 2026
Compounded sales growth
3 years+9.0%
TTM+11.0%
Compounded profit growth
3 years−2.0%
TTM−33.0%
Stock price CAGR
10 years+4.0%
5 years+0.0%
3 years−2.0%
Last year−19.0%
Return on equity
3 years18.0%
Last year12.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters65.00%65.00%65.00%42.50%32.50%32.50%32.50%32.50%32.50%32.50%32.50%32.50%
FIIs9.80%9.80%9.68%24.36%31.28%31.11%24.98%30.95%30.54%23.76%24.13%23.21%
DIIs8.04%8.04%5.56%12.86%17.03%17.17%17.34%14.93%17.40%23.82%21.01%22.53%
Government10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%
Public7.16%7.16%9.76%10.28%9.19%9.22%15.18%11.60%9.55%9.92%12.34%11.75%
No. of shareholders86,27886,2781,08,2211,17,8801,20,2711,48,4042,18,2211,67,7171,49,7181,67,6501,84,3731,78,033
Change since Jun 2023 (pp)
Promoters −32.50FIIs +13.41DIIs +14.49Public +4.59

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPTNov 2025RecordingJul 2025TranscriptJul 2025PPTJul 2025Recording

Corporate actions

As of 18 Aug 2026
18 Aug 2026DIVIDENDDividend - Rs 18 Per Share—
13 Feb 2026DIVIDENDInterim Dividend - Rs 12 Per Share—
14 Aug 2025DIVIDENDDividend - Rs 18 Per Share—
3 Feb 2025DIVIDENDInterim Dividend - Rs 12 Per Share—
14 Aug 2024DIVIDENDAnnual General Meeting/Dividend - Rs 18 Per Share—
5 Feb 2024DIVIDENDInterim Dividend - Rs 12 Per Share—
14 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 16 Per Share—
14 Feb 2023DIVIDENDInterim Dividend - Rs 10 Per Share—
11 Aug 2022DIVIDENDAnnual General Meeting/Dividend - Rs 15.5 Per Share—
17 Feb 2022DIVIDENDInterim Dividend - Rs 9.50 Per Share—
17 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 14 Per Share—
18 Feb 2021DIVIDEND Interim Dividend - Rs 9 Per Share—
16 Sep 2020DIVIDEND Annual General Meeting/Dividend - Rs 10.50 Per Share And Special Dividend - Rs 15 Per Share—
6 Mar 2020DIVIDEND Interim Dividend - Rs 9.50 Per Share—
29 Aug 2019DIVIDEND Annual General Meeting/ Dividend - Rs 10.50 Per Share—
7 Feb 2019DIVIDEND Interim Dividend - Rs 9.50 Per Share—
7 Sep 2018DIVIDEND Annual General Meeting/Dividend Rs 11/- Per Share—
20 Feb 2018DIVIDEND Interim Dividend - Rs 8 Per Share (Purpose Revised)—
14 Sep 2017DIVIDEND Annual General Meeting/Dividend - Rs 11/- Per Share—
17 Feb 2017DIVIDEND Interim Dividend Rs 8/- Per Share (Purpose Revised)—
15 Sep 2016DIVIDEND Annual General Meeting / Dividend - Rs 10/- Per Share + Special Dividend - Rs 7.5/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman