Mahanagar Telephone Nigam Ltd

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Mahanagar Telephone Nigam Ltd

₹ 39.0 -1.49%
21 Nov - close price
mtnl.net.in BSE: 500108 NSE: MTNL
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 ₹ 2,456 Cr.
  • Current Price ₹ 39.0
  • High / Low ₹ 61.9 / 37.4
  • Stock P/E
  • Book Value ₹ -457
  • Dividend Yield 0.00 %
  • ROCE -6.76 %
  • ROE %
  • Face Value ₹ 10.0
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Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -15.5% over past five years.
  • Contingent liabilities of Rs.15,366 Cr.
  • Company has high debtors of 293 days.

* 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 SmallCap BSE CPSE BSE Allcap BSE Telecommunication

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
238 227 219 199 198 192 209 184 267 170 170 159 190
349 357 345 354 331 318 284 295 294 298 292 251 298
Operating Profit -111 -129 -126 -154 -133 -126 -75 -111 -27 -128 -122 -92 -108
OPM % -47% -57% -57% -77% -67% -65% -36% -60% -10% -75% -72% -58% -57%
138 127 199 113 175 144 145 199 61 170 161 48 32
Interest 581 592 641 645 665 691 689 705 769 728 716 754 742
Depreciation 184 181 181 166 170 166 164 156 155 150 151 145 142
Profit before tax -738 -776 -749 -852 -793 -839 -784 -773 -890 -836 -828 -943 -960
Tax % 0% 0% -0% 0% 0% 0% -0% 0% 0% 0% -0% 0% 0%
-738 -776 -749 -852 -793 -839 -784 -773 -890 -836 -828 -943 -960
EPS in Rs -11.71 -12.31 -11.88 -13.52 -12.58 -13.32 -12.44 -12.28 -14.13 -13.27 -13.14 -14.97 -15.24
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
3,476 3,494 3,223 2,969 2,472 2,085 1,624 1,388 1,149 935 799 698 689
4,367 4,237 4,013 4,027 3,617 3,386 3,070 1,313 1,453 1,369 1,280 1,168 1,140
Operating Profit -891 -743 -790 -1,058 -1,145 -1,300 -1,447 75 -304 -434 -482 -470 -451
OPM % -26% -21% -24% -36% -46% -62% -89% 5% -26% -46% -60% -67% -65%
11,792 443 882 680 734 619 691 476 623 612 575 682 410
Interest 1,391 1,440 1,351 1,448 1,505 1,703 1,951 2,117 2,147 2,364 2,694 2,928 2,940
Depreciation 1,192 1,158 1,178 1,113 1,054 1,002 986 893 772 730 666 612 588
Profit before tax 8,318 -2,898 -2,437 -2,940 -2,970 -3,387 -3,693 -2,459 -2,600 -2,916 -3,268 -3,328 -3,568
Tax % 6% 0% -20% -0% 0% 0% 0% 0% 0% -0% -0% -0%
7,821 -2,901 -1,946 -2,936 -2,971 -3,388 -3,694 -2,461 -2,603 -2,915 -3,268 -3,328 -3,567
EPS in Rs 124.14 -46.05 -30.89 -46.60 -47.16 -53.78 -58.63 -39.07 -41.32 -46.27 -51.87 -52.82 -56.62
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% -0% 0% 0% 0%
Compounded Sales Growth
10 Years: -15%
5 Years: -16%
3 Years: -15%
TTM: -19%
Compounded Profit Growth
10 Years: -2%
5 Years: 2%
3 Years: -10%
TTM: -9%
Stock Price CAGR
10 Years: 7%
5 Years: 32%
3 Years: 20%
1 Year: -9%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 630 630 630 630 630 630 630 630 630 630 630 630 630
Reserves 4,413 1,429 -1,035 -4,004 -6,962 -10,358 -14,212 -16,675 -19,298 -21,485 -24,274 -27,549 -29,429
14,216 16,608 13,441 15,201 17,019 19,737 23,291 25,600 26,820 28,351 30,141 32,441 34,064
8,303 8,271 5,639 5,882 5,611 4,711 6,997 3,844 4,191 4,176 4,248 4,731 4,283
Total Liabilities 27,563 26,938 18,675 17,709 16,298 14,720 16,706 13,400 12,342 11,672 10,745 10,253 9,548
11,377 10,570 9,575 8,759 8,164 7,466 6,889 6,253 5,618 4,967 4,333 3,808 3,458
CWIP 408 134 137 291 331 320 328 184 74 59 86 32 24
Investments 60 40 43 4 4 4 4 3 3 3 4 4 5
15,717 16,194 8,920 8,654 7,799 6,930 9,486 6,960 6,647 6,642 6,323 6,409 6,062
Total Assets 27,563 26,938 18,675 17,709 16,298 14,720 16,706 13,400 12,342 11,672 10,745 10,253 9,548

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-4,186 -1,167 1,078 -1,024 155 -733 -1,206 -225 704 64 130 340
3,084 -107 -37 -30 -492 -297 -43 -259 204 -174 107 -29
1,237 1,110 -957 984 345 1,044 1,326 414 -936 177 -319 -215
Net Cash Flow 135 -164 85 -71 7 14 77 -70 -28 67 -81 96

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 32 31 56 60 63 107 141 203 213 229 234 293
Inventory Days
Days Payable
Cash Conversion Cycle 32 31 56 60 63 107 141 203 213 229 234 293
Working Capital Days -753 -835 -906 -707 -613 -1,038 -1,930 -1,218 -2,518 -2,681 -1,995 -4,097
ROCE % -12% -8% -7% -12% -13% -16% -18% -3% -5% -7% -8% -7%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
56.82% 56.82% 56.82% 56.82% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25% 56.25%
0.38% 0.47% 0.39% 0.40% 0.47% 0.55% 0.38% 0.06% 0.09% 0.14% 0.54% 0.04%
13.89% 13.89% 13.89% 13.88% 13.75% 13.63% 13.63% 13.47% 13.49% 13.46% 13.46% 13.46%
28.91% 28.81% 28.90% 28.90% 29.54% 29.56% 29.73% 30.22% 30.16% 30.15% 29.76% 30.25%
No. of Shareholders 1,89,6081,87,0641,84,0781,82,1711,78,1991,94,9741,92,0494,66,1184,41,6294,37,4244,14,3954,00,262

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Credit ratings