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Last Updated on: 27 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Mahanagar Gas Ltd

About the Company - Mahanagar Gas Ltd

Mahanagar Gas Ltd. is a Public Limited Listed company incorporated on 08/05/1995 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L40200MH1995PLC088133 and registration number is 088133. Currently Company is involved in the business activities of Manufacture of gas; distribution of gaseous fuels through mains. Company’s Total Operating Revenue is Rs. 3560.18 Cr. and Equity Capital is Rs. 98.78 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
LPG Bottling/DistributionMGL House, Block No : G-33, Bandra-Kurla Complex, Mumbai Maharashtra 400051info@mahanagargas.com
http://www.mahanagargas.com
Management
NamePosition Held
Mr. Mahesh V IyerChairman
Mr. Ashu ShinghalManaging Director
Mr. Sanjay ShendeDeputy Managing Director
Mr. Syed S HussainIndependent Director
Mr. Venkatraman SrinivasanIndependent Director
Ms. Malvika SinhaIndependent Director
Mr. Rajeev Bhaskar SahiIndependent Director
Dr. Harshadeep KambleGovernment Nominee Director

Mahanagar Gas Ltd. Share Price Update

Share PriceValue
Today₹1,476.65
Previous Day₹1,477.70

Basic Stock Data of Mahanagar Gas Ltd

Market Cap 15,050 Cr.
Current Price 1,524
High / Low1,559/867
Stock P/E11.6
Book Value 474
Dividend Yield1.71 %
ROCE26.8 %
ROE20.4 %
Face Value 10.0

Data Source: screener.in

Mahanagar Gas Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales5076667186158301,0281,0871,4551,5631,6711,6101,5381,571
Expenses2863504023125289258711,1691,3101,4151,2211,0171,092
Operating Profit221317316304302103215286253256390521479
OPM %44%48%44%49%36%10%20%20%16%15%24%34%30%
Other Income18201719232223202632343944
Interest2222222222232
Depreciation42444545474856545559646266
Profit before tax19529128727627575180250221227357496454
Tax %26%25%26%26%26%24%27%26%26%24%25%26%25%
Net Profit14421721320420457132185164172269368338
EPS in Rs14.6121.9921.5420.6620.685.7513.3418.7516.6017.4227.2137.3034.27

Mahanagar Gas Ltd Quarterly Chart

Mahanagar Gas Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,3091,5141,8852,0952,0782,0342,2332,7912,9722,1533,5606,2996,391
Expenses8101,0321,3971,6051,5691,3901,4531,9061,9191,2192,6365,1154,745
Operating Profit4994834884905096447808851,0539349241,1841,646
OPM %38%32%26%23%24%32%35%32%35%43%26%19%26%
Other Income1932344147535878998186112149
Interest01012100778910
Depreciation647181808395111126162174196231250
Profit before tax4544424424494726017278379848348061,0561,535
Tax %32%33%33%33%34%34%34%35%19%26%26%25%
Net Profit3082992973013113934785467946205977901,148
EPS in Rs34.4533.4133.2733.6934.8039.8348.3855.3280.3362.7260.4379.98116.20
Dividend Payout %44%52%53%52%50%48%39%36%44%37%41%20%

Mahanagar Gas Ltd Profit & Loss Yearly Chart

Mahanagar Gas Ltd Growth

Compounded Sales Growth
10 Years:15%
5 Years:23%
3 Years:28%
TTM:9%
Compounded Profit Growth
10 Years:10%
5 Years:11%
3 Years:0%
TTM:98%
Stock Price CAGR
10 Years:%
5 Years:10%
3 Years:10%
1 Year:65%
Return on Equity
10 Years:22%
5 Years:22%
3 Years:19%
Last Year:20%

Mahanagar Gas Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital89898989899999999999999999
Reserves9781,0931,2081,3181,6391,7411,9972,3002,8543,1343,4994,0354,581
Borrowings1010816531-06774103115115
Other Liabilities4655876647436377829141,0421,1091,2951,5341,7831,862
Total Liabilities1,5421,7791,9692,1662,3702,6243,0103,4414,1284,6015,2346,0326,656
Fixed Assets7649269911,0641,1291,3051,5321,7632,0492,1692,6143,0263,252
CWIP322315345380429412357370487560616709622
Investments2363023423713934676886541,1211,0251,0881,3101,865
Other Assets221237290350419441434654471847916988917
Total Assets1,5421,7791,9692,1662,3702,6243,0103,4414,1284,6015,2346,0326,656

Mahanagar Gas Ltd Reserves and Borrowings Chart

Mahanagar Gas Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 428439398427419532652685985806904969
Cash from Investing Activity -326-285-200-261-222-263-419-439-755-444-539-649
Cash from Financing Activity -91-157-185-176-191-284-226-235-242-349-310-285
Net Cash Flow11-313-105-15812-11135435

Mahanagar Gas Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days23222117161714138221917
Inventory Days8655588551153
Days Payable213934323343394035764826
Cash Conversion Cycle10-11-8-10-12-18-16-22-21-44-24-7
Working Capital Days-72-88-77-80-59-79-86-78-95-149-104-62
ROCE %45%39%35%33%30%34%37%37%37%27%23%27%

Mahanagar Gas Ltd Financial Efficiency Indicators Chart

Mahanagar Gas Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters32.50%32.50%32.50%32.50%32.50%32.50%32.50%32.50%32.50%32.50%32.50%32.50%
FIIs29.56%31.11%29.59%29.38%25.32%24.98%25.81%28.37%29.73%30.95%32.38%30.51%
DIIs18.09%17.17%18.39%17.80%19.05%17.34%16.06%15.58%15.61%14.93%15.15%16.10%
Government10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%
Public9.85%9.22%9.52%10.32%13.13%15.18%15.63%13.56%12.15%11.60%9.96%10.89%
No. of Shareholders1,52,4381,48,4041,53,8271,64,0381,92,4552,18,2212,14,2501,99,7241,81,2221,67,7171,54,3831,53,582

Mahanagar Gas Ltd Shareholding Pattern Chart

No. of Mahanagar Gas Ltd Shareholders

Mahanagar Gas Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Equity Arbitrage Fund - Regular Plan5344000.1955.17
UTI Dividend Yield Fund4000001.3541.3
Bandhan Arbitrage Fund1984000.520.48
Baroda BNP Paribas Small Cap Fund1750001.518.22
HDFC Arbitrage Fund - Regular Plan1232000.1712.72
HDFC Arbitrage Fund - Wholesale Plan1232000.1712.72
Tata Arbitrage Fund848000.118.83
Edelweiss Arbitrage Fund744000.17.75
NJ Balanced Advantage Fund686760.197.15
Invesco India Arbitrage Fund640000.086.61

Mahanagar Gas Ltd ROCE Trend

Mahanagar Gas Ltd EPS Trend

Mahanagar Gas Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)79.9860.4362.7280.3355.31
Diluted EPS (Rs.)79.9860.4362.7280.3355.31
Cash EPS (Rs.)103.3880.3080.3196.7068.06
Book Value[Excl.RevalReserv]/Share (Rs.)418.53364.18327.24298.92242.85
Book Value[Incl.RevalReserv]/Share (Rs.)418.53364.18327.24298.92242.85
Dividend / Share (Rs.)26.0025.0023.0035.0020.00
Revenue From Operations / Share (Rs.)637.71360.42217.92300.89282.56
PBDIT / Share (Rs.)131.21102.26102.70116.6097.51
PBIT / Share (Rs.)107.8182.3985.12100.2384.76
PBT / Share (Rs.)106.8681.6284.3999.5784.73
Net Profit / Share (Rs.)79.9860.4362.7280.3355.31
PBDIT Margin (%)20.5728.3747.1238.7534.50
PBIT Margin (%)16.9022.8539.0633.3129.99
PBT Margin (%)16.7522.6438.7233.0929.98
Net Profit Margin (%)12.5416.7628.7826.6919.57
Return on Networth / Equity (%)19.1116.5919.1626.8722.77
Return on Capital Employeed (%)23.8120.8224.0931.1231.95
Return On Assets (%)13.0911.4013.4619.2215.87
Asset Turnover Ratio (%)1.120.720.490.780.86
Current Ratio (X)1.281.391.581.591.43
Quick Ratio (X)1.261.371.561.571.41
Dividend Payout Ratio (NP) (%)12.5015.7155.0011.8217.17
Dividend Payout Ratio (CP) (%)9.6711.8342.969.8213.95
Earning Retention Ratio (%)87.5084.2945.0088.1882.83
Cash Earning Retention Ratio (%)90.3388.1757.0490.1886.05
Interest Coverage Ratio (X)138.03134.06141.01176.522983.78
Interest Coverage Ratio (Post Tax) (X)85.1480.2387.12122.611693.66
Enterprise Value (Cr.)9495.547235.5311017.497850.0610042.21
EV / Net Operating Revenue (X)1.512.035.122.643.60
EV / EBITDA (X)7.337.1610.866.8210.43
MarketCap / Net Operating Revenue (X)1.542.165.362.723.71
Retention Ratios (%)87.4984.2844.9988.1782.82
Price / BV (X)2.352.143.572.744.31
Price / Net Operating Revenue (X)1.542.165.362.723.71
EarningsYield0.080.070.050.090.05

Mahanagar Gas Ltd Profitability Ratios (%)

Mahanagar Gas Ltd Liquidity Ratios

Mahanagar Gas Ltd Liquidity Ratios (%)

Mahanagar Gas Ltd Interest Coverage Ratios (%)

Mahanagar Gas Ltd Valuation Ratios

Fair Value of Mahanagar Gas Ltd Stock

Fair Value: ₹1140.85

The stock is overvalued by 25.14% compared to the current price ₹1524

*Investments are subject to market risks

Strength and Weakness of Mahanagar Gas Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 33.67%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -85.75, which is a positive sign.
  3. The stock has a low average Cash Conversion Cycle of -15.25, which is a positive sign.
  4. The company has higher reserves (2,336.69 cr) compared to borrowings (40.54 cr), indicating strong financial stability.
  5. The company has shown consistent growth in sales (2.46 cr) and profit (542.31 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 110.06 and average Dividend Yield of 28.42%.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Mahanagar Gas Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE