Mid-cap public sector, Mahanagar Gas Ltd (MGL) NSE: MGL recommended an interim dividend of Rs 12 per equity share at a face value of Rs 10/- for FY 2023-24 on January 23, 2024. PSU stock has fixed the record date as 5th February.
Government Company Share Announced ₹12 Dividend; Record Date 5th February
A Domestic Brokerage firm has advised to buy shares of Mahanagar Gas with a target price of Rs 1596. Mahanagar Gas Ltd on Friday, closed at the price of Rs 1,481.55.
Brokerage houses are seeing a potential return of 8.78% in this stock in future. Mahanagar Gas has increased by 46% in the last three months.
“Our FY24/FY25/FY26 EBITDA estimates have been revised upward by 25%/18%/19% with an EBITDA CAGR of 14.5% following revised margin and volume forecasts,” the brokerage firm said in its report dated January 27, 2024.
Additionally, rolling the valuations to Jan’25 (from Oct’24) results in a higher TP of Rs 1,590 (from Rs 1,255). The TP shows FY24E/FY25E P/E of 11.9x/13.8x, higher than the 3Y/5Y average one year forward P/E of 10.8x/11.9x.
According To The Company’s BSE Filing, “The interim dividend of each equity share of face value Rs 10/- (i.e. 120%) for the financial year 2023-2024 has been fixed at Rs 12/- and the record date to determine the eligibility of shareholders for the interim dividend.
Monday, 5% February 2024. The interim dividend for the financial year 2023-2024 will be paid to all eligible shareholders within 30 days from the date of declaration.”
Mahanagar Gas Limited (MGL) announced its net profit for consolidation at the sum of 317.18 crores for the quarter that ended on the 31st of December, 2023. 84% more than the amount of 172.07 crores that was reported during the same time frame last year.
Sequentially, the company saw a slight decline in its net profit as it was declared at Rs 338.50 crore in the last quarter.
About Mahanagar Gas Ltd Company
Mahanagar Gas Limited (MGL) is one of India’s most trusted natural gas distribution companies. In 1995 the company was formed. It was founded with GAIL (India) Ltd. as its promoter.
MGL is proud to have the distinction of being the first company to pioneer the distribution system for natural gas in Mumbai. Mumbai and the surrounding regions. At present, MGL has over 16.5 million domestic PNG customers, and more than 4000 industrial and commercial customers.
MGL also provides CNG for more than 8 million vehicles, which include both public and private vehicles for transport.MGL is a reputable organization led by a highly skilled team of around 500 energetic young people, who are professional managers and technical experts.
Fundamental Analysis of Mahanagar Gas Ltd
| Market Cap | ₹ 14,607 Cr. |
| Current Price | ₹ 1,481.55 |
| 52-wk High | 1,514.65 |
| 52-wk Low | ₹ 830 |
| Stock P/E | 11.32 |
| Book Value | — |
| Dividend | 1.76 % |
| ROCE | — |
| ROE | — |
| Face Value | ₹ 10.0 |
| P/B Value | — |
| OPM | 18.8 % |
| EPS | ₹ 80.0 |
| Debt | ₹ Cr. |
| Debt to Equity | — |
Mahanagar Gas Ltd Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹1480 | ₹1548 |
| 2025 | ₹1550 | ₹1598 |
| 2026 | ₹1600 | ₹1622 |
| 2027 | ₹1625 | ₹1645 |
| 2028 | ₹1655 | ₹1668 |
| 2029 | ₹1670 | ₹1694 |
| 2030 | ₹1700 | ₹1728 |
Mahanagar Gas Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2022 | 32.50% |
| Mar 2023 | 32.50% |
| June 2023 | 32.50% |
| Sept 2023 | 32.50% |
| Dec 2023 | 32.50% |
| FII Holding | |
| Dec 2022 | 29.73% |
| Mar 2023 | 30.95% |
| June 2023 | 32.38% |
| Sept 2023 | 30.51% |
| Dec 2023 | 30.85% |
| DII Holding | |
| Dec 2022 | 15.61% |
| Mar 2023 | 14.93% |
| June 2023 | 15.15% |
| Sept 2023 | 16.10% |
| Dec 2023 | 17.23% |
| Govt. Holding | |
| Dec 2022 | 10.00% |
| Mar 2023 | 10.00% |
| June 2023 | 10.00% |
| Sept 2023 | 10.00% |
| Dec 2023 | 10.00% |
| Public Holding | |
| Dec 2022 | 12.15% |
| Mar 2023 | 11.60% |
| June 2023 | 9.96% |
| Sept 2023 | 10.89% |
| Dec 2023 | 9.43% |
Mahanagar Gas Ltd Share: Last 5 Years’ Financial Condition
To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | — |
| 2020 | — |
| 2021 | — |
| 2022 | — |
| 2023 | ₹ 6,299 Cr |
Last 5 Years’ Net Profit:
| 2019 | — |
| 2020 | — |
| 2021 | — |
| 2022 | — |
| 2023 | ₹ 790 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | 0 |
| 2020 | 0 |
| 2021 | 0 |
| 2022 | 0 |
| 2023 | 0 |
Conclusion
This article is a complete guide about Mahanagar Gas Ltd Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s prospects and growth potential.
This information will help you in your further investment.
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