NSE: MGL | BSE: 539957

Mid-range Performer

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1325.20 -57.50 (-4.16%)

33.34% Fall from 52W High

925.3K NSE+BSE Volume

NSE 30 May, 2025 3:31 PM (IST)

13,090

Market Cap

Above industry Median

1.3

Beta 1Year

Very High Volatility

Mahanagar Gas Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MGL, BSE:539957 Mahanagar Gas Ltd.

Mahanagar Gas Ltd.

10 Aug 2020

1325.20

-4.16%

Marginal EBITDA beat led by better volumes

Buy: Mahanagar Gas Ltd.

Motilal Oswal

10 August 2020 CNG volumes were down 78% YoY to 0.48mmscmd. PNG domestic was higher by 7% YoY to 0.43mmscmd. PNG I/C was down 49% YoY to 0.20mmscmd. At the end of 1QFY21, the company had ~256 CNG stations (~184 belong to OMCs). Raigad had ~14 CNG stations, and the minimum work program (MWP) is fulfilled at Raigad. Opex increased ~44% YoY to INR5.8/scm (+15% QoQ). Thus, EBITDA was 5% higher than est. at INR0.8b (-71% YoY; -67% QoQ). Reported PAT stood at INR0.45b (-73% YoY, but +9% vs.

Mahanagar Gas Ltd. has an average target of 1768.67 from 6 brokers.

Mahanagar Gas Ltd.

10 Aug 2020

1325.20

-4.16%

Mahanagar Gas (SELL): Muted volume outlook

Sell: Mahanagar Gas Ltd.

Target

BOB Capital Markets Ltd.

Mahanagar Gas's (MAHGL) Q1FY21 PAT underperformed at Rs 0.45bn (73% YoY).

Mahanagar Gas Ltd.'s price crossed below 50Day SMA today

Mahanagar Gas Ltd.

10 Aug 2020

1325.20

-4.16%

Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Target

Dolat Capital

The CNG segment (down 77.8% YoY and 75.7% QoQ) due no movement of people and vehicles during the lockdown The domestic PNG segment reported flattish growth sequentially and up 7.1% YoY which was offset by a de-growth of 47% QoQ and 49.3% YoY in Industrial/commercial PNG segment. Overall PNG segment degrew 21.2% YoY and 21.3% QoQdomestic PNG segment increased which was offset by decline in industrial and commercial volumes. Gross margins have gone up by 573 bps QoQ and 821.4 bps YoY, due to low gas cost and spot prices. MGL got the advantage of relatively...

Mahanagar Gas Ltd. is trading below its 30 day SMA of 1355.3

Mahanagar Gas Ltd.

10 Aug 2020

1325.20

-4.16%

Q1FY21 Result Update - Lower volumes due to lockdown restrictions hit profits - BUY

Buy: Mahanagar Gas Ltd.

Target

Prabhudas Lilladhar

Muted performance all around: Mahanagar Gas' (MGL's) reported weak results in Q1FY21 with EBITDA and PAT at Rs800mn (PLe: Rs893mn; 71%YoY) and Rs452mn (PLe: Rs548mn; -73%YoY) respectively. Lower operating profit was due to weak volume, partly compensated by better than expected margins. For Q1, MGL's gross margins were at Rs17.6/scm vs Rs17.9 in Q4, but higher opex/scm at Rs8.2/scm (due to lower volumes) led to...

Mahanagar Gas Ltd.'s price crossed below 50Day SMA today

Mahanagar Gas Ltd.

03 Jul 2020

1325.20

-4.16%

Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Sharekhan

Weak gas prices to drive margins, given MGL's pricing power; we model EBITDA margin of Rs. 9.8/Rs. 10.7 per scm for FY21E/FY22E. Mahanagar Gas Limited's (MGL), a dominant city gas distribution (CGD) player in and around Mumbai, is expected to benefit from weak domestic gas prices, (that are likely to fall further over H2FY2021E-H1FY2022E after a sharp 53% reduction since 2015 to $2.4/mmBtu), which would drive MGL's margins given its strong pricing power in compressed natural gas (CNG) and domestic PNG business (86% of overall gas sales volumes of 3 mmscmd in FY2020). Notwithstanding near-term concerns of a fall in...

Mahanagar Gas Ltd.'s price crossed below 50Day SMA today

Mahanagar Gas Ltd.

12 Jun 2020

1325.20

-4.16%

Mahanagar Gas

Hold: Mahanagar Gas Ltd.

Recommendation Target

ICICI Securities Limited

The government's priority allocation of domestic gas to CGD sector has enabled MGL to access cheaper gas for CNG, domestic business segments (~85% of sales mix). MGL's strong gas pipeline infrastructure and expanding operations in Mumbai, its adjoining areas and Raigad district will enable it to capture the benefits of the large and growing market given the low penetration. However, sales volume currently is at 42% of pre-Covid level. Given Mumbai is one of the more affected cities by spread of Covid19, we believe recovery in demand (mainly commercial PNG, CNG) will take time and sales growth will be seen only from Q3FY21E. The stock price has...

Mahanagar Gas Ltd.'s price crossed below 50Day SMA today

Mahanagar Gas Ltd.

12 Jun 2020

1325.20

-4.16%

Mahanagar Gas

Buy: Mahanagar Gas Ltd.

Target

Dolat Capital

Volume de-growth at 2.8 mmscmd (down 7.4% YoY and 8.8% QoQ), against our estimates of 3 mmsmcd due to volumes of approx. 0.3 mmscmd lost in last 10 days of March'20 due to nationwide lockdown. The CNG segment (down 8.8% YoY and 12% QoQ) due no movement of people and vehicles during the lockdown The PNG segment reported flattish growth YoY and a decline of 3.8% QoQdomestic segment increased which was offset by decline in industrial and commercial volumes....

Mahanagar Gas Ltd.'s price crossed below 50Day SMA today

Mahanagar Gas Ltd.

11 Jun 2020

1325.20

-4.16%

Mahanagar Gas (SELL): Margins expand but volume outlook weak cut to SELL

Sell: Mahanagar Gas Ltd.

Target

BOB Capital Markets Ltd.

Mahanagar Gas's (MAHGL) Q4FY20 PAT underperformed at Rs 1.7bn (+25% YoY).

Mahanagar Gas Ltd. has an average target of 1768.67 from 6 brokers.

Mahanagar Gas Ltd.

11 Jun 2020

1325.20

-4.16%

A value play - lower volume growth but better margins

Buy: Mahanagar Gas Ltd.

Recommendation Target

Motilal Oswal

11 June 2020 CNG volumes were down 10% YoY to 1.98mmscmd. PNG-domestic was 7% higher YoY to 0.42mmscmd, while PNG-industrial was down 8% YoY to 0.39mmscmd. This resulted in total PNG volumes declining 1% YoY to 0.8mmscmd. Thus, EBITDA was ~9% lower than est. Reported PAT stood at INR1.7b (-11% est. +25% YoY), with the tax rate at 25.9%. most commercials have not opened yet and many operational consumers are facing challenges.

Mahanagar Gas Ltd. is trading above its 150 day SMA of 1317.2

Mahanagar Gas Ltd.

11 Jun 2020

1325.20

-4.16%

Q4FY20 Result Update - Muted quarter, however, low gas prices to drive profits - BUY

Buy: Mahanagar Gas Ltd.

Target

Prabhudas Lilladhar

We tweak our FY21/22 earnings estimate to factor in lower volumes as well as higher margins; (MGL's five year EBIDTA CAGR at ~20% with margins growing at 14% and volumes at 5% CAGR). MGL remains an enviable...

Mahanagar Gas Ltd.'s price crossed below 50Day SMA today

Is Mahanagar Gas Ltd. worth buying?

517 Votes:

Buy 86.46%

Sell 7.74%

Hold 5.8%

RESEARCH REPORTS

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