| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 2,599 | 2,282 | +13.9% |
| EBITDA | 343 | 501 | −31.5% |
| EBITDA margin | 13.2% | 21.9% | −8.8 pts |
| Profit before tax | 258 | 432 | −40.2% |
| Net profit | 193 | 318 | −39.4% |
| EPS | ₹19.54 | ₹32.18 | −39.3% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 10,402 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 1,093 | 1,093 | 1,206 | 1,148 | 1,428 | ||
| 14.0 | 14.0 | 14.6 | 4.9 | — | ||
| 9,323 | — | — | — | — | ||
| 9,382 | 9,065 | 7,979 | 6,914 | 7,033 | ||
| — | +13.6% | +15.4% | −1.7% | — | ||
| 1,293 | 1,451 | 1,570 | 1,844 | 953 | ||
| 13.8% | 16.0% | 19.7% | 26.7% | — | ||
| 870 | 1,041 | 1,218 | 1,560 | 953 | ||
| 715 | 841 | 1,040 | 1,276 | — | ||
| 7.6% | 9.3% | 13.0% | 18.5% | — | ||
| ₹72.43 | ₹85.15 | ₹105.34 | ₹129.21 | — | ||
| — | −19.2% | −18.5% | — | — | ||
| — | 1,162 | 1,814 | 1,461 | 969 | ||
| — | −1,076 | −1,184 | −783 | −713 | ||
| 86.7 | 86.7 | 631 | 678 | 256 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 10,401.5 | |
| - Cash, Equiv & ST Investments | 1,427.7 | 1,148.1 | 1,206.0 | 1,092.8 | 1,092.8 | |
| + Minority Interest | — | 4.9 | 14.6 | 14.0 | 14.0 | |
| Enterprise Value | — | — | — | — | 9,322.7 | |
| Revenue | 7,032.8 | 6,914.4 | 7,979.0 | 9,065.3 | 9,382.1 | |
| Growth %, YoY | — | -1.7 | +15.4 | +13.6 | — | |
| EBITDA | 953.1 | 1,843.9 | 1,570.0 | 1,450.6 | 1,292.7 | |
| Margin % | — | 26.67 | 19.68 | 16.00 | 13.78 | |
| EBIT | 953.1 | 1,560.0 | 1,217.9 | 1,040.7 | 869.9 | |
| Net Income | — | 1,276.4 | 1,040.5 | 840.6 | 714.6 | |
| Margin % | — | 18.46 | 13.04 | 9.27 | 7.62 | |
| EPS, Adj (current shares) | — | 129.21 | 105.34 | 85.15 | 72.43 | |
| Growth %, YoY | — | — | -18.5 | -19.2 | — | |
| Cash from Operations | 969.3 | 1,461.2 | 1,814.4 | 1,162.3 | — | |
| Capital Expenditures | -713.1 | -783.4 | -1,183.9 | -1,075.6 | — | |
| Free Cash Flow | 256.2 | 677.9 | 630.5 | 86.7 | 86.7 | |
Prices at the 30 October 2026 close · figures from the company's filings with NSE
Mahanagar Gas (NSE: MGL) had a market capitalisation of ₹10,357 crore at the 30 October 2026 close (₹1,048.50 a share), a PE ratio of 14.5 on the last four quarters' profit and a price-to-book ratio of 1.61. In FY26 its consolidated net profit was ₹841 crore on revenue of ₹9,065 crore; in Q1 FY27 (April–June 2026) it was ₹193 crore, down 39.3% year on year. It had no borrowings on 31 March 2026. Promoters held 32.50% of the shares on 30 September 2026.
Mahanagar Gas' PE ratio is 14.5 at the 30 October 2026 close (₹1,048.50 a share): a market capitalisation of ₹10,357 crore divided by consolidated net profit of ₹715 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹841 crore) it is 12.3.
Mahanagar Gas' price-to-book (PB) ratio is 1.61 at the 30 October 2026 close: a market capitalisation of ₹10,357 crore divided by shareholders' equity (book value) of ₹6,428 crore on 31 March 2026. That is a book value of ₹650.70 per share against a share price of ₹1,048.50.
Mahanagar Gas' net worth — shareholders' equity in its consolidated balance sheet — was ₹6,428 crore on 31 March 2026, up 9.3% from ₹5,880 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹10,357 crore at the 30 October 2026 close.
Mahanagar Gas' market capitalisation was ₹10,357 crore at the 30 October 2026 close: 9.88 crore shares at ₹1,048.50 each.
Yes. Mahanagar Gas had no borrowings on 31 March 2026 (consolidated balance sheet), and it held ₹1,150 crore of cash, bank balances and current investments.
Mahanagar Gas' basic earnings per share (EPS) were ₹85.15 in FY26, against ₹105.33 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹72.42.
Mahanagar Gas' debt-to-equity ratio was 0.00 on 31 March 2026: no borrowings against total equity of ₹6,442 crore. A year earlier, on 31 March 2025, it was 0.00.
In 2026, Mahanagar Gas has declared two dividends totalling ₹30 a share: ₹12 (interim) with record date 13 February 2026 and ₹18 with record date 18 August 2026.
Promoters held 32.50% of Mahanagar Gas on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
In FY26, Mahanagar Gas' return on equity (ROE) was 13.7% and its return on capital employed (ROCE) was 15.5%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 18.9% and ROCE 20.2%.
Mahanagar Gas' book value per share was ₹650.70 on 31 March 2026: shareholders' equity of ₹6,428 crore divided by the 9.88 crore shares in issue, up 9.3% from ₹595.28 a year earlier. The share price at the 30 October 2026 close was ₹1,048.50.
On 30 September 2026, Mahanagar Gas' shares were held by promoters 32.50%, foreign portfolio investors (FII/FPI) 23.46%, domestic institutions (DII) 22.26% (including mutual funds at 11.98%) and retail and other non-institutional investors 11.78%. Over the year, FII holding was down 0.14 percentage points from 23.60% and DII holding was down 0.63 percentage points from 22.89%.
Mahanagar Gas' dividend yield is 2.86% at the 30 October 2026 close: dividends of ₹30 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹1,048.50. They were ₹18 on 18 August 2026 and ₹12 on 13 February 2026 (interim).
In FY26, Mahanagar Gas generated ₹1,162 crore of cash from operations and spent ₹1,076 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹86.7 crore. In FY25 it was ₹631 crore.
In FY26 (April 2025–March 2026), Mahanagar Gas' consolidated net profit was ₹841 crore, down 19.2% from ₹1,041 crore in FY25, on revenue from operations of ₹9,065 crore (up 13.6%).
Mahanagar Gas' latest results are for Q1 FY27 (April–June 2026), filed on 30 July 2026: consolidated net profit ₹193 crore, down 39.3% from ₹318 crore in Q1 FY26; revenue from operations ₹2,599 crore, up 13.9% year on year.
At the 30 October 2026 closing prices, on FY26 net profit, Mahanagar Gas' PE ratio is 12.3, the lowest of the four: IGL 12.6, Adani Total Gas 89.6 and Mangalore Refinery & Petrochemicals 15.8, a peer average of 39.3. Each is the company's market capitalisation at that price divided by its FY26 net profit.
In FY26, Mahanagar Gas earned net profit of ₹841 crore on revenue of ₹9,065 crore, against ₹1,550 crore on ₹17,846 crore for IGL. Mahanagar Gas' operating margin was 11.5% (IGL 7.4%) and its return on equity 13.7% (IGL 14.0%). At the 30 October 2026 close, Mahanagar Gas' market capitalisation was ₹10,357 crore against ₹19,487 crore for IGL, and its PE ratio on FY26 profit 12.3 against 12.6.
Mahanagar Gas will announce its Q2 FY27 results (July–September 2026) on Tuesday, 3 November 2026, the date of the board meeting it has notified to the exchanges.
On FY26 consolidated figures, against IGL, Adani Total Gas and Mangalore Refinery & Petrochemicals: Mahanagar Gas' operating margin of 11.5% is the second highest of the four (IGL 7.4%, Adani Total Gas 14.9%, Mangalore Refinery & Petrochemicals 4.5%; peer average 8.9%); its return on equity of 13.7% is the lowest of the four (IGL 14.0%, Adani Total Gas 14.5%, Mangalore Refinery & Petrochemicals 14.2%; peer average 14.2%); its revenue growth over three years of 8.8% a year is the second highest of the four (IGL 4.6% a year, Adani Total Gas 11.0% a year, Mangalore Refinery & Petrochemicals −5.5% a year; peer average 3.4% a year).
From Mahanagar Gas' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.