Mahanagar Telephone Nigam Ltd

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Mahanagar Telephone Nigam Ltd

₹ 24.7 -1.43%
11 Sep - close price
mtnl.net.in BSE: 500108 NSE: MTNL
About

Mahanagar Telephone Nigam Ltd is a Government of India-controlled telecom and infrastructure-asset company serving Delhi and Mumbai through landline, broadband/FTTH, mobile, leased-line and enterprise services.[1][2]

Key Points

BSNL Operating Model:[1]

BSNL has operated MTNL’s entire Delhi
and Mumbai telecom business since January 2025, including network maintenance, capex, billing and collection for migrated customers. MTNL recognised ₹34 crore of revenue share
from this arrangement in Q1 FY27.

Website BSE NSE
  • Market Cap ₹ 1,559 Cr.
  • Current Price ₹ 24.7
  • High / Low ₹ 46.4 / 20.3
  • Stock P/E
  • Book Value ₹ -476
  • Dividend Yield 0.00 %
  • ROCE -9.27 %
  • ROE %
  • Face Value ₹ 10.0
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Pros

  • Debtor days have improved from 187 to 126 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -7.41% over past five years.
  • Contingent liabilities of Rs.15,911 Cr.
  • Earnings include an other income of Rs.636 Cr.

* 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

Telecommunication Telecommunication Telecom - Services Telecom - Cellular & Fixed line services

Part of BSE CPSE BSE Telecommunication BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
185 182 169 193 169 251 239 258 145 174 191 350 200
339 316 299 304 280 278 280 274 236 283 222 290 233
Operating Profit -154 -134 -130 -112 -111 -27 -40 -16 -91 -109 -31 60 -33
OPM % -84% -74% -77% -58% -65% -11% -17% -6% -63% -62% -16% 17% -17%
112 174 142 145 198 60 79 53 47 31 20 510 75
Interest 645 665 691 689 705 769 728 716 754 742 749 738 748
Depreciation 163 168 163 162 154 152 147 148 142 139 139 136 135
Profit before tax -850 -793 -842 -818 -772 -888 -836 -827 -941 -959 -898 -304 -841
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-850 -793 -842 -818 -772 -888 -836 -827 -941 -959 -898 -304 -841
EPS in Rs -13.49 -12.58 -13.36 -12.98 -12.25 -14.10 -13.27 -13.13 -14.94 -15.22 -14.26 -4.83 -13.35
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
3,398 3,124 2,870 2,372 1,988 1,536 1,304 1,070 862 728 1,061 887 916
4,164 3,941 3,956 3,543 3,308 3,007 1,250 1,387 1,302 1,252 1,075 1,020 1,029
Operating Profit -767 -817 -1,086 -1,171 -1,320 -1,471 54 -317 -441 -524 -14 -132 -113
OPM % -23% -26% -38% -49% -66% -96% 4.1% -30% -51% -72% -1.3% -15% -12%
444 881 677 733 616 688 475 621 610 572 219 582 636
Interest 1,440 1,351 1,448 1,505 1,703 1,942 2,111 2,147 2,364 2,694 2,928 2,995 2,976
Depreciation 1,131 1,152 1,088 1,029 984 972 880 759 717 656 600 557 549
Profit before tax -2,893 -2,440 -2,945 -2,973 -3,390 -3,696 -2,462 -2,603 -2,911 -3,302 -3,324 -3,103 -3,003
Tax % 0% -20% -0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-2,893 -1,948 -2,941 -2,973 -3,390 -3,696 -2,462 -2,603 -2,911 -3,302 -3,324 -3,103 -3,003
EPS in Rs -45.93 -30.91 -46.68 -47.19 -53.81 -58.66 -39.08 -41.31 -46.20 -52.42 -52.75 -49.25 -47.66
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% -0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -12%
5 Years: -7%
3 Years: 1%
TTM: 2%
Compounded Profit Growth
10 Years: -15%
5 Years: -11%
3 Years: -7%
TTM: 14%
Stock Price CAGR
10 Years: 2%
5 Years: 6%
3 Years: 0%
1 Year: -44%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 630 630 630 630 630 630 630 630 630 630 630 630
Reserves 1,437 -1,026 -3,997 -6,967 -10,365 -14,216 -16,670 -19,286 -21,473 -24,293 -27,566 -30,605
16,604 13,441 15,201 17,019 19,737 23,291 25,599 26,819 28,350 30,141 32,655 35,445
8,226 5,602 5,844 5,574 4,691 6,969 3,816 4,167 4,155 4,227 4,492 4,589
Total Liabilities 26,898 18,647 17,679 16,256 14,693 16,674 13,375 12,329 11,662 10,705 10,211 10,059
10,432 9,438 8,632 8,040 7,361 6,788 6,167 5,549 4,897 4,269 3,736 3,073
CWIP 134 137 291 331 320 328 184 74 59 86 32 13
Investments 182 182 142 106 106 106 106 106 106 106 106 106
16,150 8,890 8,614 7,779 6,905 9,452 6,918 6,601 6,600 6,244 6,336 6,868
Total Assets 26,898 18,647 17,679 16,256 14,693 16,674 13,375 12,329 11,662 10,705 10,211 10,059

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-1,157 1,025 -1,050 118 -738 -1,225 -230 707 55 133 322 176
-122 -4 -9 -496 -286 -33 -224 202 -164 100 -4 -200
1,103 -936 993 345 1,044 1,326 414 -936 177 -318 -215 -19
Net Cash Flow -176 84 -67 -33 20 68 -39 -27 69 -86 103 -43
Free Cash Flow -1,300 1,025 -1,451 -373 -1,033 -1,358 -332 692 26 63 306 575
CFO/OP 101% -69% 113% -16% 55% 84% -783% -238% -15% -30% -1,587% -128%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 32 57 63 65 111 147 214 226 244 249 187 126
Inventory Days
Days Payable
Cash Conversion Cycle 32 57 63 65 111 147 214 226 244 249 187 126
Working Capital Days -855 -931 -727 -629 -1,083 -2,030 -1,285 -2,707 -2,915 -2,195 -2,698 -4,627
ROCE % -8% -7% -12% -13% -16% -18% -4% -5% -7% -9% -7% -9%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Broadband Subscribers
subscribers

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FTTH Subscribers
subscribers
Landline Subscribers
subscribers
Leased Circuits
number
Mobile (GSM) Subscribers
subscribers
Number of Switches
number
Optical Fibre Cable (Route Kms)
Route Kms
Total Active Connections (DELs)
subscribers

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
56.82% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25%
0.40% 0.47% 0.55% 0.38% 0.06% 0.09% 0.14% 0.54% 0.04% 0.05% 0.50% 0.40%
13.88% 13.75% 13.63% 13.63% 13.47% 13.49% 13.46% 13.46% 13.46% 13.43% 13.43% 13.43%
28.90% 29.54% 29.56% 29.73% 30.22% 30.16% 30.15% 29.76% 30.25% 30.27% 29.82% 29.92%
No. of Shareholders 1,82,1711,78,1991,94,9741,92,0494,66,1184,41,6294,37,4244,14,3954,00,2623,87,1973,74,9443,66,221

* 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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Documents

Announcements

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Credit ratings