Mahanagar Gas Ltd

Mahanagar Gas Ltd is in the business of City Gas Distribution (CGD), presently supplying Natural Gas in the city of Mumbai including its adjoining areas and the Raigad district, in the State of Maharashtra, India.

Pros:
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 41.05%
Cons:
Promoter holding has decreased by -10.00% over last quarter
The company has delivered a poor growth of 8.16% over past five years.
Promoter holding is low: 32.50%

Peer Comparison Sector: Gas Distribution // Industry: Miscellaneous

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Quarterly Results Figures in Rs. Crores

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
504 525 531 534 581 587 619 697 753 723 757 784
337 362 328 334 380 411 408 475 514 509 481 510
Operating Profit 167 163 203 200 201 176 211 221 239 214 277 273
OPM % 33% 31% 38% 37% 35% 30% 34% 32% 32% 30% 37% 35%
Other Income 12 13 12 14 14 17 15 18 20 24 20 23
Interest 0 -0 0 0 0 0 0 0 0 0 1 1
Depreciation 25 26 25 26 27 34 30 31 33 33 37 39
Profit before tax 154 150 190 188 188 160 197 209 227 205 259 256
Tax % 36% 34% 35% 34% 34% 34% 35% 35% 35% 35% 34% -6%
Net Profit 99 99 124 125 124 105 128 136 148 133 170 271
EPS in Rs 10.02 10.07 12.59 12.63 12.55 10.61 12.99 13.80 15.02 13.51 17.23 27.40
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
591 639 773 840 1,309 1,514 1,885 2,095 2,078 2,034 2,233 2,791 3,016
343 391 495 463 810 1,032 1,397 1,605 1,569 1,390 1,453 1,906 2,013
Operating Profit 248 248 277 378 499 483 488 490 509 644 780 885 1,003
OPM % 42% 39% 36% 45% 38% 32% 26% 23% 24% 32% 35% 32% 33%
Other Income 11 15 16 11 19 32 34 41 47 53 58 78 88
Interest 2 1 2 1 0 1 0 1 2 1 0 0 3
Depreciation 37 41 48 56 64 71 81 80 83 95 111 126 142
Profit before tax 220 221 244 332 454 442 442 449 472 601 727 837 946
Tax % 33% 33% 34% 32% 32% 33% 33% 33% 34% 34% 34% 35%
Net Profit 147 147 162 226 308 299 297 301 311 393 478 546 723
EPS in Rs 15.67 15.61 17.19 23.83 32.01 30.44 30.30 30.13 31.23 39.83 48.38 55.31 73.16
Dividend Payout % 27% 30% 30% 34% 44% 52% 53% 52% 50% 48% 39% 36%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:15.88%
5 Years:8.16%
3 Years:10.33%
TTM:21.42%
Compounded Profit Growth
10 Years:14.03%
5 Years:12.94%
3 Years:20.68%
TTM:46.47%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:11.61%
1 Year:19.84%
Return on Equity
10 Years:23.96%
5 Years:22.74%
3 Years:23.63%
Last Year:24.32%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
89 89 89 89 89 89 89 89 89 99 99 99 99
Reserves 491 586 691 826 978 1,093 1,208 1,318 1,639 1,741 1,997 2,300 2,615
Borrowings 24 16 11 11 10 10 8 16 5 3 1 0 50
190 236 283 357 469 591 669 749 644 790 923 1,052 1,108
Total Liabilities 795 927 1,074 1,283 1,546 1,783 1,974 2,172 2,377 2,633 3,020 3,451 3,871
434 478 521 639 764 926 991 1,064 1,129 1,305 1,532 1,763 1,953
CWIP 133 180 249 289 322 315 345 380 429 412 357 370 392
Investments 71 87 96 113 236 302 342 371 393 467 688 654 976
158 183 209 241 225 240 295 357 426 450 444 664 550
Total Assets 795 927 1,074 1,283 1,546 1,783 1,974 2,172 2,377 2,633 3,020 3,451 3,871

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
159 189 210 294 428 439 398 427 419 532 652 684
-98 -129 -151 -242 -326 -285 -200 -261 -222 -263 -419 -438
-53 -56 -59 -58 -91 -157 -185 -176 -191 -284 -226 -235
Net Cash Flow 9 4 0 -5 11 -3 13 -10 5 -15 8 12

Ratios Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 40% 34% 33% 39% 45% 39% 35% 33% 30% 34% 37% 37%
Debtor Days 45 47 44 46 23 22 21 17 16 17 14 13
Inventory Turnover 46.92 49.30 57.12 60.98 93.94 108.02 127.20 126.09 117.45 97.34 93.51 129.46

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