Mahanagar Gas Ltd

About [ edit ]

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.

  • Market Cap 11,445 Cr.
  • Current Price 1,158
  • High / Low 1,257 / 780
  • Stock P/E 20.0
  • Book Value 293
  • Dividend Yield 1.73 %
  • ROCE 36.6 %
  • ROE 29.7 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 21.52% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.38%
  • Company has been maintaining a healthy dividend payout of 39.67%

Cons

  • The company has delivered a poor sales growth of 7.25% over past five years.
  • Promoter holding has decreased over last 3 years: -32.50%

Peer comparison

Sector: Gas Distribution Industry: Miscellaneous

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
587 619 697 753 723 757 784 744 687 262 507 666
411 408 475 514 509 481 510 486 443 182 286 350
Operating Profit 176 211 221 239 214 277 273 259 244 80 221 317
OPM % 30% 34% 32% 32% 30% 37% 35% 35% 36% 31% 44% 48%
Other Income 17 15 18 20 24 20 23 29 27 25 18 20
Interest 0 0 0 0 0 1 1 2 2 2 2 2
Depreciation 34 30 31 33 33 37 39 41 44 42 42 44
Profit before tax 160 197 209 227 205 259 256 244 225 61 195 291
Tax % 34% 35% 35% 35% 35% 34% -6% 24% 26% 25% 26% 25%
Net Profit 105 128 136 148 133 170 271 186 167 45 144 217
EPS in Rs 10.61 12.99 13.80 15.02 13.51 17.23 27.40 18.84 16.87 4.58 14.61 21.99

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
639 773 840 1,309 1,514 1,885 2,095 2,078 2,034 2,233 2,791 2,972 2,121
391 495 463 810 1,032 1,397 1,605 1,569 1,390 1,453 1,906 1,919 1,260
Operating Profit 248 277 378 499 483 488 490 509 644 780 885 1,053 862
OPM % 39% 36% 45% 38% 32% 26% 23% 24% 32% 35% 32% 35% 41%
Other Income 15 16 11 19 32 34 41 47 53 58 78 99 90
Interest 1 2 1 0 1 0 1 2 1 0 0 7 7
Depreciation 41 48 56 64 71 81 80 83 95 111 126 162 173
Profit before tax 221 244 332 454 442 442 449 472 601 727 837 984 772
Tax % 33% 34% 32% 32% 33% 33% 33% 34% 34% 34% 35% 19%
Net Profit 147 162 226 308 299 297 301 311 393 478 546 794 573
EPS in Rs 16.45 18.11 25.24 34.45 33.41 33.27 33.69 34.80 39.83 48.38 55.32 80.33 58.05
Dividend Payout % 30% 30% 34% 44% 52% 53% 52% 50% 48% 39% 36% 44%
Compounded Sales Growth
10 Years:14%
5 Years:7%
3 Years:13%
TTM:-29%
Compounded Profit Growth
10 Years:17%
5 Years:22%
3 Years:26%
TTM:-25%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:10%
1 Year:33%
Return on Equity
10 Years:25%
5 Years:25%
3 Years:26%
Last Year:30%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
89 89 89 89 89 89 89 89 99 99 99 99 99
Reserves 586 691 826 978 1,093 1,208 1,318 1,639 1,741 1,997 2,300 2,854 2,791
Borrowings 16 11 11 10 10 8 16 5 3 1 0 67 63
235 282 355 465 587 664 743 637 782 914 1,042 1,109 1,402
Total Liabilities 926 1,073 1,280 1,542 1,779 1,969 2,166 2,370 2,624 3,010 3,441 4,128 4,355
478 521 639 764 926 991 1,064 1,129 1,305 1,532 1,763 2,049 2,020
CWIP 180 249 289 322 315 345 380 429 412 357 370 487 493
Investments 87 96 113 236 302 342 371 393 467 688 654 1,121 866
182 208 239 221 237 290 350 419 441 434 654 471 975
Total Assets 926 1,073 1,280 1,542 1,779 1,969 2,166 2,370 2,624 3,010 3,441 4,128 4,355

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
189 210 294 428 439 398 427 419 532 652 685 983
-129 -151 -242 -326 -285 -200 -261 -222 -263 -419 -439 -752
-56 -59 -58 -91 -157 -185 -176 -191 -284 -226 -235 -242
Net Cash Flow 4 0 -5 11 -3 13 -10 5 -15 8 12 -11

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 34% 33% 39% 45% 39% 35% 33% 30% 34% 37% 37% 37%
Debtor Days 47 44 46 23 22 21 17 16 17 14 13 8
Inventory Turnover 23.89 30.03 25.63 48.84 63.26 83.11 83.96 75.53 53.79 47.56 70.42 79.61

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
56.50 42.50 42.50 42.50 42.50 32.50 32.50 32.50 32.50 32.50 32.50 32.50
12.70 19.03 21.61 24.36 24.31 28.85 31.87 31.28 29.92 25.63 29.56 31.11
7.68 14.25 13.40 12.86 12.67 18.20 16.10 17.03 18.69 20.09 18.09 17.17
10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
13.12 14.22 12.49 10.28 10.52 10.45 9.53 9.19 8.89 11.78 9.85 9.22

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