Mahanagar Telephone Nigam Ltd

₹ 30.2 -2.52%

29 May - close price

About

Mahanagar Telephone Nigam is engaged in providing telecom services.(Source : 201903 Annual Report Page No:120)

Key Points

History of MTNL^[1]
MTNL was incorporated as a public sector undertaking in 1986 to serve cities of Delhi including NCR and Mumbai including Thane district in India. It started with an objective to provide world-class telecommunication services to its customers with affordable tariffs. The company got Navratana Status in 1997.

Website BSE NSE

Market Cap ₹ 1,902 Cr.
Current Price ₹ 30.2
High / Low ₹ 58.2 / 20.3
Stock P/E
Book Value ₹ -476
Dividend Yield 0.00 %
ROCE -2.19 %
ROE %
Face Value ₹ 10.0

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Pros

Debtor days have improved from 230 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.15,368 Cr.
Earnings include an other income of Rs.582 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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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	202	185	182	169	193	169	251	239	258	145	174	191	350
	328	339	316	299	304	280	278	280	274	236	283	222	290
Operating Profit	-126	-154	-134	-130	-112	-111	-27	-40	-16	-91	-109	-31	60
OPM %	-62%	-84%	-74%	-77%	-58%	-65%	-11%	-17%	-6%	-63%	-62%	-16%	17%
	199	112	174	142	145	198	60	79	53	47	31	20	510
Interest	641	645	665	691	689	705	769	728	716	754	742	749	738
Depreciation	178	163	168	163	162	154	152	147	148	142	139	139	136
Profit before tax	-746	-850	-793	-842	-818	-772	-888	-836	-827	-941	-959	-898	-304
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-746	-850	-793	-842	-818	-772	-888	-836	-827	-941	-959	-898	-304
EPS in Rs	-11.84	-13.49	-12.58	-13.36	-12.98	-12.25	-14.10	-13.27	-13.13	-14.94	-15.22	-14.26	-4.83
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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
	3,398	3,124	2,870	2,372	1,988	1,536	1,304	1,070	862	728	629	887
	4,164	3,941	3,956	3,543	3,308	3,007	1,250	1,387	1,302	1,252	1,102	1,032
Operating Profit	-767	-817	-1,086	-1,171	-1,320	-1,471	54	-317	-441	-524	-473	-145
OPM %	-23%	-26%	-38%	-49%	-66%	-96%	4%	-30%	-51%	-72%	-75%	-16%
	444	881	677	733	616	688	475	621	610	572	678	582
Interest	1,440	1,351	1,448	1,505	1,703	1,942	2,111	2,147	2,364	2,694	2,928	2,983
Depreciation	1,131	1,152	1,088	1,029	984	972	880	759	717	656	600	557
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
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
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
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:	41%

Compounded Profit Growth
10 Years:	-9%
5 Years:	-6%
3 Years:	-2%
TTM:	7%

Stock Price CAGR
10 Years:	5%
5 Years:	6%
3 Years:	16%
1 Year:	-37%

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	32,441	35,445
	8,226	5,602	5,844	5,574	4,691	6,969	3,816	4,167	4,155	4,227	4,705	4,564
Total Liabilities	26,898	18,647	17,679	16,256	14,693	16,674	13,375	12,329	11,662	10,705	10,211	10,034
	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	6,842
Total Assets	26,898	18,647	17,679	16,256	14,693	16,674	13,375	12,329	11,662	10,705	10,211	10,034

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%	-47%	-117%

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	316	126
Inventory Days
Days Payable
Cash Conversion Cycle	32	57	63	65	111	147	214	226	244	249	316	126
Working Capital Days	-855	-931	-727	-629	-1,083	-2,030	-1,285	-2,707	-2,915	-2,195	-4,550	-4,706
ROCE %	-8%	-7%	-12%	-13%	-16%	-18%	-4%	-5%	-7%	-9%	-7%	-2%

Insights

In beta

Mar 2014

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Broadband Subscribers
Number

	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	xxx,xxx
	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
xx.xx		xx.xx	xx.xx	xxx.xx	xxx.xx	xxx.xx	xx.xx			xx.xx	xx.xx

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GSM (Wireless) Subscribers
Number

Landline (Wireline) Subscribers
Number

Total Employee Strength
Number

Staff Cost as % of Revenue
Percentage

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Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	56.82%	56.82%	56.25%	56.25%	56.25%	56.25%	56.25%	56.25%	56.25%	56.25%	56.25%	56.25%
	0.39%	0.40%	0.47%	0.55%	0.38%	0.06%	0.09%	0.14%	0.54%	0.04%	0.05%	0.50%
	13.89%	13.88%	13.75%	13.63%	13.63%	13.47%	13.49%	13.46%	13.46%	13.46%	13.43%	13.43%
	28.90%	28.90%	29.54%	29.56%	29.73%	30.22%	30.16%	30.15%	29.76%	30.25%	30.27%	29.82%
No. of Shareholders	1,84,078	1,82,171	1,78,199	1,94,974	1,92,049	4,66,118	4,41,629	4,37,424	4,14,395	4,00,262	3,87,197	3,74,944

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	56.93%	56.90%	56.89%	56.89%	56.89%	56.89%	56.82%	56.25%	56.25%	56.25%
	0.82%	0.35%	0.34%	0.35%	0.36%	0.37%	0.47%	0.55%	0.14%	0.50%
	21.25%	20.47%	19.79%	14.76%	14.22%	13.91%	13.89%	13.63%	13.46%	13.43%
	20.99%	22.28%	22.99%	28.01%	28.54%	28.84%	28.81%	29.56%	30.15%	29.82%
No. of Shareholders	1,35,394	1,30,625	1,30,291	1,35,301	1,60,245	1,98,355	1,87,064	1,94,974	4,37,424	3,74,944

* 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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Mahanagar Telephone Nigam Ltd

Mahanagar Telephone Nigam Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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