Mahanagar Gas Limited

Oil, Gas & Consumable Fuels · Gas

NSE: MGL BSE: 539957

₹1058.00

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Gas

The largest companies in the same industry by market cap. This company ranks #7 of 9. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
GAIL (India) Limited	112,138	12.0	8.5%	-2.3%	3.22%	65	94	31
Adani Total Gas Limited	65,318	107.4	13.5%	-7.4%	0.04%	54	0	30
Aegis Logistics Limited	48,442	38.2	12.6%	75.3%	0.49%	83	37	51
Petronet LNG Limited	42,675	10.3	17.6%	3.6%	3.51%	72	93	33
GUJARAT ENERGY LIMITED	22,290	9.8	5.4%	-45.4%	3.75%	71	99	46
Indraprastha Gas Limited	20,385	17.1	13.4%	-30.3%	—	66	78	14
Mahanagar Gas Limited (this stock)	10,451	14.5	14.9%	-17.1%	2.84%	69	85	14
Confidence Petroleum India Limited	2,928	23.0	6.3%	92.9%	0.11%	48	77	52

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹10,394 Cr

EV / EBITDA

7.4x

EV / Sales

1.11x

Market cap / Sales

1.11x

Earnings yield

6.90%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 2,628 Cr, up 19.6% YoY.

↓ Negative

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 194 Cr, down 40.3% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	2,598	259	194	₹19.6100
March 31, 2026	2,258	178	132	₹13.3500
Dec. 31, 2025	2,266	272	202	₹20.4500
Sept. 30, 2025	2,255	258	193	₹19.5800
June 30, 2025	2,160	438	324	₹32.8300
March 31, 2025	2,039	339	252	₹25.5300
Dec. 31, 2024	1,929	278	225	₹22.8170
Sept. 30, 2024	1,877	373	283	₹28.6300
June 30, 2024	1,745	384	285	₹28.8000
March 31, 2024	1,719	357	265	₹26.8300
Dec. 31, 2023	1,724	426	317	₹
Sept. 30, 2023	1,729	454	338	₹34.2700
June 30, 2023	1,690	496	368	₹37.3000

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Sep 23	Jun 23	Mar 23
Total income (before exceptional items)	2,628	2,287	2,295	2,284	2,198	2,085	1,975	1,929	1,785	1,764	1,773	1,729	1,805
Operating revenue	2,598	2,258	2,266	2,255	2,160	2,039	1,929	1,877	1,745	1,719	1,729	1,690	1,772
Other income	30	29	29	29	39	46	46	51	40	45	44	39	34
Operating expenses	2,255	1,998	1,914	1,917	1,674	1,661	1,615	1,479	1,326	1,325	1,250	1,169	1,382
Operating profit	343	260	352	338	485	378	314	399	418	394	479	521	390
Operating profit margin	13.2%	11.5%	15.5%	15.0%	22.5%	18.6%	16.3%	21.2%	24.0%	22.9%	27.7%	30.8%	22.0%
Depreciation	109	106	103	104	83	82	79	73	72	78	66	62	64
Interest	6	5	6	5	4	4	3	3	3	4	2	3	2
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit before tax	259	178	272	258	438	339	278	373	384	357	454	496	357
Tax	65	47	70	65	113	87	53	90	99	92	116	127	88
Net profit	194	132	202	193	324	252	225	283	285	265	338	368	269
EPS	19.61	13.35	20.45	19.58	32.83	25.53	22.82	28.63	28.80	26.83	34.27	37.30	27.21
Net profit (TTM)	721	852	972	995	1,085	1,045	1,058	1,171	1,256	1,241	1,148	973	790
EPS (TTM)	72.99	86.21	98.39	100.76	109.81	105.78	107.08	118.53	127.20	125.61	116.20	98.53	79.98

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	9,060	1,141	847
March 31, 2025	7,590	1,374	1,045
March 31, 2024	6,862	1,733	1,289
March 31, 2023	6,921	1,056	790

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	9.3%	30.6%	9,186^†	7,774^†	—	7,033^†	3,971^†	2,418^†	3,363^†	3,134^†	2,510^†	2,292^†
Operating revenue	9.4%	31.1%	9,060	7,590	6,862	6,921	3,885^†	2,338^†	3,264^†	3,057^†	2,453^†	2,239^†
Other income	—	—	126^†	184^†	—	112^†	86^†	81^†	99^†	78^†	57^†	53^†
Operating expenses	—	—	7,503^†	6,080^†	—	5,737^†	2,961^†	1,404^†	2,212^†	2,171^†	—	1,594^†
Operating profit	9.5%	10.8%	1,556^†	1,510^†	—	1,184^†	924^†	934^†	1,053^†	885^†	—	645^†
Operating profit margin	—	—	17.2%^†	19.9%^†	—	17.1%^†	23.8%^†	40.0%^†	32.3%^†	29.0%^†	—	28.8%^†
Depreciation	—	—	396^†	306^†	—	231^†	196^†	174^†	162^†	126^†	111^†	95^†
Interest	—	—	20^†	13^†	—	9^†	8^†	7^†	7^†	0^†	—	1^†
Exceptional items, gain / (loss)	—	—	0^†	0^†	—	0^†	0^†	0^†	0^†	0^†	0^†	0^†
Profit before tax	2.6%	6.5%	1,141	1,374	1,733	1,056	806^†	834^†	984^†	837^†	727^†	601^†
Tax	—	—	294^†	329^†	—	265^†	209^†	214^†	190^†	291^†	249^†	207^†
Net profit	2.3%	6.4%	847	1,045	1,289	790	597^†	620^†	794^†	546^†	478^†	393^†
EPS	2.5%	6.6%	86.21^†	105.78^†	—	79.98^†	60.43^†	62.72^†	80.34^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	17.2%^†	19.9%^†	—	17.1%^†	23.8%^†	40.0%^†	32.3%^†	29.0%^†	—	28.8%^†
EBIT margin	12.8%^†	18.3%^†	—	15.4%^†	20.9%^†	36.0%^†	30.3%^†	27.4%^†	—	26.9%^†
PBT margin	12.6%	18.1%	25.3%	15.3%	20.8%^†	35.7%^†	30.1%^†	27.4%^†	29.6%^†	26.8%^†
Net margin	9.3%	13.8%	18.8%	11.4%	15.4%^†	26.5%^†	24.3%^†	17.9%^†	19.5%^†	17.6%^†
Interest coverage	58.66x^†	103.35x^†	—	113.39x^†	108.07x^†	116.78x^†	151.85x^†	2616.38x^†	—	514.38x^†
Dividend payout	34.8%^†	28.4%^†	—	31.9%^†	38.9%^†	31.1%^†	24.9%^†	—	—	—
Earnings retention	65.2%^†	71.6%^†	—	68.1%^†	61.1%^†	68.9%^†	75.1%^†	—	—	—
Current ratio	0.94x	1.03x	—	—	—	—	—	—	—	—
Quick ratio	0.90x	1.00x	—	—	—	—	—	—	—	—
Debt to equity	0.00x	0.00x	—	—	—	—	—	—	—	—
Return on equity	13.2%	17.7%	—	—	—	—	—	—	—	—
Return on assets	9.4%	12.7%	—	—	—	—	—	—	—	—
Return on capital employed	16.6%^†	21.8%^†	—	—	—	—	—	—	—	—
Asset turnover	1.01x	0.93x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	1,147	-874	-368	1,062	86
March 31, 2025	1,368	-1,113	-224	1,075	293
March 31, 2024	1,563	-1,267	-312	771	792
March 31, 2023	969	-649	-285	713	256
March 31, 2022	904	-539	-310	649	255

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	8,965	6,434	6,335	0	0	1,830	1,955	57	4,966	62
March 31, 2025	8,204	5,889	5,791	0	0	1,891	1,840	134	4,098	49
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.