Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 11380.19 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 685.47 Crore, down -14.45 % from last quarter Total Income of Rs 801.21 Crore and up 126.98 % from last year same quarter Total Income of Rs 301.99 Crore. Company reported net profit after tax of Rs 204.08 Crore in latest quarter.
Investment Rationale
MGL trades at a discount of ~55% to IGL’s P/E (despite enjoying the highest EBITDA/scm). The stock trades at 14x FY23E EPS of INR80. Valuing it at 16x Sep’23E EPS, it arrives at TP of INR1,315/share.
Promoter/FII Holdings
Promoters held 32.5 per cent stake in the company as of June 30, 2021, while FIIs held 29.6 per cent, DIIs 28.4 per cent and public and others 9.5 per cent.
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