Mahanagar Gas Ltd

Mahanagar Gas Ltd

₹ 1,470 0.29%
18 Jun 4:01 p.m.
About

Mahanagar Gas Ltd is engaged in the business of City gas distribution (CGD), presently supplying natural gas in the city of Mumbai including adjoining areas and the Raigad District in the state of Maharashtra.[1]

Key Points

PNG Segment
The company supplies Piped natural gas (PNG) for domestic, industrial and commercial uses. It has a wide network of 5,900+ kms of carbon steel and polyethylene pipeline.[1] Presently, it has ~12.5 lakh domestic customers with a capacity to connect ~16 lakh customers in the domestic segment. It also serves to ~4,200 commercial and industrial customers.[2]

  • Market Cap 14,538 Cr.
  • Current Price 1,470
  • High / Low 1,580 / 971
  • Stock P/E 11.3
  • Book Value 521
  • Dividend Yield 1.77 %
  • ROCE 36.6 %
  • ROE 27.8 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 18.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 28.1%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Gas Distribution Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
718 615 830 1,028 1,087 1,455 1,563 1,671 1,610 1,538 1,571 1,569 1,567
402 312 528 925 871 1,169 1,310 1,415 1,221 1,017 1,092 1,120 1,173
Operating Profit 316 304 302 103 215 286 253 256 390 521 479 449 394
OPM % 44% 49% 36% 10% 20% 20% 16% 15% 24% 34% 30% 29% 25%
17 19 23 22 23 20 26 32 34 39 44 48 45
Interest 2 2 2 2 2 2 2 2 2 3 2 3 4
Depreciation 45 45 47 48 56 54 55 59 64 62 66 68 78
Profit before tax 287 276 275 75 180 250 221 227 357 496 454 426 357
Tax % 26% 26% 26% 24% 27% 26% 26% 24% 25% 26% 25% 26% 26%
213 204 204 57 132 185 164 172 269 368 338 317 265
EPS in Rs 21.54 20.66 20.68 5.75 13.34 18.75 16.60 17.42 27.21 37.30 34.27 32.11 26.83
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,514 1,885 2,095 2,078 2,034 2,233 2,791 2,972 2,153 3,560 6,299 6,245
1,032 1,397 1,605 1,569 1,390 1,453 1,906 1,919 1,219 2,636 5,115 4,402
Operating Profit 483 488 490 509 644 780 885 1,053 934 924 1,184 1,843
OPM % 32% 26% 23% 24% 32% 35% 32% 35% 43% 26% 19% 30%
32 34 41 47 53 58 78 99 81 86 112 175
Interest 1 0 1 2 1 0 0 7 7 8 9 12
Depreciation 71 81 80 83 95 111 126 162 174 196 231 274
Profit before tax 442 442 449 472 601 727 837 984 834 806 1,056 1,733
Tax % 33% 33% 33% 34% 34% 34% 35% 19% 26% 26% 25% 26%
299 297 301 311 393 478 546 794 620 597 790 1,289
EPS in Rs 33.41 33.27 33.69 34.80 39.83 48.38 55.32 80.33 62.72 60.43 79.98 130.50
Dividend Payout % 52% 53% 52% 50% 48% 39% 36% 44% 37% 41% 20% 23%
Compounded Sales Growth
10 Years: 13%
5 Years: 17%
3 Years: 43%
TTM: -1%
Compounded Profit Growth
10 Years: 16%
5 Years: 19%
3 Years: 28%
TTM: 63%
Stock Price CAGR
10 Years: %
5 Years: 11%
3 Years: 7%
1 Year: 43%
Return on Equity
10 Years: 23%
5 Years: 23%
3 Years: 22%
Last Year: 28%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 89 89 89 89 99 99 99 99 99 99 99 99
Reserves 1,093 1,208 1,318 1,639 1,741 1,997 2,300 2,854 3,134 3,499 4,035 5,044
10 8 16 5 3 1 0 67 74 103 115 139
587 664 743 637 782 914 1,042 1,109 1,295 1,534 1,783 1,944
Total Liabilities 1,779 1,969 2,166 2,370 2,624 3,010 3,441 4,128 4,601 5,234 6,032 7,226
926 991 1,064 1,129 1,305 1,532 1,763 2,049 2,169 2,614 3,026 3,543
CWIP 315 345 380 429 412 357 370 487 560 616 709 774
Investments 302 342 371 393 467 688 654 1,121 1,025 1,088 1,310 1,636
237 290 350 419 441 434 654 471 847 916 988 1,273
Total Assets 1,779 1,969 2,166 2,370 2,624 3,010 3,441 4,128 4,601 5,234 6,032 7,226

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
439 398 427 419 532 652 685 985 806 904 969 1,563
-285 -200 -261 -222 -263 -419 -439 -755 -444 -539 -649 -1,267
-157 -185 -176 -191 -284 -226 -235 -242 -349 -310 -285 -312
Net Cash Flow -3 13 -10 5 -15 8 12 -11 13 54 35 -15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 22 21 17 16 17 14 13 8 22 19 17 16
Inventory Days 6 5 5 5 8 8 5 5 11 5 3 4
Days Payable 39 34 32 33 43 39 40 35 76 48 26 34
Cash Conversion Cycle -11 -8 -10 -12 -18 -16 -22 -21 -44 -24 -7 -13
Working Capital Days -88 -77 -80 -59 -79 -86 -78 -95 -149 -104 -62 -11
ROCE % 39% 35% 33% 30% 34% 37% 37% 37% 27% 23% 27%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
32.50% 32.50% 32.50% 32.50% 32.50% 32.50% 32.50% 32.50% 32.50% 32.50% 32.50% 32.50%
29.59% 29.38% 25.32% 24.98% 25.81% 28.37% 29.73% 30.95% 32.38% 30.51% 30.85% 30.54%
18.39% 17.80% 19.05% 17.34% 16.06% 15.58% 15.61% 14.93% 15.15% 16.10% 17.23% 17.40%
10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
9.52% 10.32% 13.13% 15.18% 15.63% 13.56% 12.15% 11.60% 9.96% 10.89% 9.43% 9.55%
No. of Shareholders 1,53,8271,64,0381,92,4552,18,2212,14,2501,99,7241,81,2221,67,7171,54,3831,53,5821,41,6171,49,718

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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