Obermatt

Mahanagar Gas

NSI:MGL · INE002S01010
Gas UtilitiesSmall

360

74
EV / EBIT76
Price / Owner Earnings9
Owner Earnings Yield56
Dividend Yield43
Price/Sales68
EV / Gross Profit86
Price/Book39
Return on Capital92
Cash Return on Capital61
Return on Equity84
EBIT Margin47
Gross Profitability94
Cash Conversion22
Owner Earnings Margin45
Sales growth72
Profit Growth28
Long-Term EPS Growth65
Reinvestment36
Price momentum9
Debt load92
Refinancing12
Debt Payback100
Liquidity95
Analyst ratings36
Opinion Changes44
Price Target Upside60
Market mood45
Value Creation13/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Mahanagar Gas clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Based on 3/5 components.

Profile

CountryIndia
IndustryGas Utilities
SizeSmall
TypePublic Company
ExchangeNSEI
Founded1995
Employees441
ISININE002S01010
Last UpdateApr 2, 2026
Index & Theme
Power Grid

Description

Mahanagar Gas Limited operates primarily in the natural gas sector, focusing on the sale of natural gas. The company engages in the distribution and supply of natural gas to various customer segments, primarily in urban regions. Business Segments S…

Analysis

Middle-of-the-road

Mahanagar Gas Limited sits in the middle of our grid: average quality, average price, no obvious signal in either direction. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is expensive. The owner-earnings multiple stands at 54.9×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 20% a year, against analyst forecasts of 6%. The market is pricing in far more than analysts expect: heroic expectations.

Growth is moderate; the safety picture is sturdy. The company scores 13/20 on our value-creation score: creating some value.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
52
2023202420252026

All-time high

100

Jan 2024

All-time low

51

Jan 2025

Average rank

72

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
68
36
42
37
Price/Earnings
51
60
65
65
Price/Book
39
35
28
32
Dividend Yield
43
34
55
54
Value (overall)
49
32
47
42

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →