M

Mahanagar Gas Limited

MGLNSE
Market snapshot · 2026-08-11 14:34 UTC

1,134.30

+₹10.70 (+0.95%)

MARKET CAP

₹11.20K Cr

STOCK P/E

15.7x

52W HIGH

₹1,378.00

52W LOW

₹900.00

BOOK VALUE

₹650.70

EPS

₹72.47

ROE

SECTOR

Utilities

DEBT/EQUITY

3.46

VOLUME

1.09L

P/B RATIO

1.74x

PEG RATIO

-0.40

Sector

Utilities

Themes

Gas Distribution
D
Dividend
E
Earnings
₹1,330.71₹1,233.08₹1,135.46₹1,037.83₹940.20VolumeDEEDEEAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for MGL.

30.00 analysts

Price Forecast

Current
₹1,134
High Target
₹1,694
▲ +49.3%
Median Target
₹1,322
▲ +16.5%
Low Target
₹1,005
▼ -11.4%
Now₹1,134High ₹1,694Median ₹1,322Low ₹1,005Aug '25Now12M Target
Price history (1Y)
Analyst target range
30 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹934.19 - ₹1,37080%
6M₹860.75 - ₹1,48080%
12M₹765.52 - ₹1,64780%
Realized vol: +29.9% · Drift: +3.5%

Revenue Forecast

₹ Cr
Jun '26Current₹2,372.0
Sep 2026 ETrend estimate range
High₹2,475.0Base₹2,291.7Low₹2,108.3
Sep '25: ₹2,049.0 · Dec '25: ₹2,058.0 · Mar '26: ₹2,051.0 · Jun '26: ₹2,372.0 · Sep '26: ₹2,291.7 · Dec '26: ₹2,301.7
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E2,049.02,058.02,051.02,372.02,291.72,301.7
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Jun '26Current₹19.61
Sep 2026 ETrend estimate range
High₹15.35Base₹13.71Low₹12.06
Sep '25: ₹19.58 · Dec '25: ₹20.45 · Mar '26: ₹13.36 · Jun '26: ₹19.61 · Sep '26: ₹13.71 · Dec '26: ₹14.31
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E19.5820.4513.3619.6113.7114.31
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Mixed
53%
Analyst Consensus
Weakening

From 30 analysts

Mean upside+15.5%

Fundamentals

Weakening

Fundamentals institutional score is 24 using growth durability 23.7.

Valuation

Attractive relative to peers

Valuation institutional score is 77 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Neutral

Analyst View institutional score is 59 using mean target upside 15.5%; dispersion penalty 21.0; recommendation breadth from available consensus.

Technical Structure

Mixed Momentum

Technicals institutional score is 48 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 6 recent ticker-linked news items.

Signal Summary

Market intelligence remains Mixed. valuation and market sentiment provide support, while fundamentals and technical structure remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals WeakeningValuation Attractive relative to peersAnalyst Consensus NeutralTechnical Structure Mixed MomentumMarket Sentiment Neutral backdrop

Key Data Points

Mean Target Price1,309.7 target
Mean Upside+15.5%
Technical Score48%
Fundamental Score24%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 9.0% below historical median. Valuation is stable — currently in the strongly undervalued zone (z-score: -0.61). Confidence: 83%.

Live forward EPS implies next-12-month EPS of ₹93.50. Applying the stock's normalized valuation corridor produces a fair range of ₹1,450.18 to ₹1,733.49, with base value near ₹1,607.27 (+41.7% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Below normalized range

Forward EPS

₹93.50

Forward P/E

12.1x

Base Fair Value

₹1,607.27

Fair Range

₹1,450.18 - ₹1,733.49

Upside To Base

+41.7%

Estimate Source

Live forward EPS

Growth Estimate

-39.3%

P/E
Strongly Undervalued

5Y Average

15.09

Current

15.65

Overvalued

18.54

Undervalued

15.51

EV/EBITDA
Fair

5Y Average

7.53

Current

7.81

Overvalued

8.85

Undervalued

5.77

P/B
Strongly Undervalued

5Y Average

1.96

Current

1.74

Overvalued

2.25

Undervalued

1.67

Peers & Comparison

Sector: Utilities · Theme: Gas Distribution

Gas Distribution Peers2 peers
Avg P/E: 488.4x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
GUJARAT STATE PETRO LTD
GSPLGas Distribution
-10.9%6.5%
14.9x
Undervalued
-97% vs avg
-19.6%
GUJARAT ENERGY LIMITED
GUJGASLTDGas Distribution
+21.1%8.5%
961.9x
Premium
+97% vs avg
-38.3%
WHY THESE PEERS

MAHANAGAR GAS LTD. trades at a discount (15.9x vs peer avg 488.4x), suggesting potential undervaluation relative to the Gas Distribution cohort. Peers include GUJARAT STATE PETRO LTD, GUJARAT ENERGY LIMITED — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹2.37K CrJun 2026

Latest net profit

₹194 CrJun 2026

Latest EPS

₹19.61Jun 2026

Net margin

14.0%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.0%6.0%12.0%18.0%24.0%0.00 Cr600 Cr1.20K Cr1.80K Cr2.40K Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr600 Cr1.20K Cr1.80K Cr2.40K Cr₹0₹9₹18₹27₹36
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOtheradjustmentsOperatingprofitOther incomeInterestOtheradjustmentsProfitbefore taxTax & otherNet Profit0.00 Cr600 Cr1.20K Cr1.80K Cr2.40K Cr

Latest reported period: Jun 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260.00 Cr2.50K Cr5.00K Cr7.50K Cr10.00K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +1,5381,5711,5691,5671,5901,7861,7581,9632,0812,0492,0582,0512,372
Expenses +1,0171,0921,1201,1731,1711,3731,4431,5681,5811,7111,7061,7912,029
Operating Profit521479449394418413314395501338352260343
OPM %34%30%29%25%26%23%18%20%24%16%17%13%14%
Other Income +39444845404746423229292930
Interest3234333445656
Depreciation626668787284799596104103106109
Profit before tax496454426357384373278338432258272178259
Tax %26%25%26%26%26%23%19%28%26%25%26%26%25%
Net Profit +368338317265285287225242320193202132194
EPS in Rs37.3034.2732.1126.8328.8129.0322.8224.5332.3519.5820.4513.3619.61
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +32.50%32.50%32.50%32.50%32.50%
FIIs +25.48%23.59%24.89%24.13%23.21%
DIIs +22.52%22.89%20.83%21.01%22.53%
Government +10.00%10.00%10.00%10.00%10.00%
Public +9.50%11.01%11.79%12.34%11.75%
Others0.01%0.02%0.01%
Jun 2026
Promoters +
FIIs +
DIIs +
Government +
Public +
Others

Events Timeline

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Aug 07, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Aug 06, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Aug 06, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Newspaper Publication

Aug 04, 2026PDFCompany Reports Open

Reg. 34 (1) Annual Report.

Aug 03, 2026PDFCompany Reports Open