Mahanagar Gas Limited

NSEI:MGL Stock Report

Market Cap: ₹114.8b

Mahanagar Gas Valuation

Is MGL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of MGL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MGL (₹1143.4) is trading below our estimate of future cash flow value (₹1556.89)

Significantly Below Future Cash Flow Value: MGL is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MGL?

Key metric: As MGL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MGL. This is calculated by dividing MGL's market cap by their current earnings.
What is MGL's PE Ratio?
PE Ratio13.4x
Earnings₹8.41b
Market Cap₹114.78b

Price to Earnings Ratio vs Peers

How does MGL's PE Ratio compare to its peers?

The above table shows the PE ratio for MGL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.6x
GUJENERGY Gujarat Energy
10.2x8.42%₹206.6b
IGL Indraprastha Gas
14.1x8.94%₹218.1b
ATGL Adani Total Gas
123xn/a₹806.7b
GAIL GAIL (India)
15.1x14.64%₹1.1t
MGL Mahanagar Gas
13.4x7.24%₹112.9b

Price-To-Earnings vs Peers: MGL is good value based on its Price-To-Earnings Ratio (13.4x) compared to the peer average (40.6x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does MGL's PE Ratio compare vs other companies in the Asian Gas Utilities Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
MGL 13.4xIndustry Avg. 13.2xNo. of Companies11PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MGL is expensive based on its Price-To-Earnings Ratio (13.4x) compared to the Asian Gas Utilities industry average (13.2x).

Price to Earnings Ratio vs Fair Ratio

What is MGL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MGL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.4x
Fair PE Ratio17.5x

Price-To-Earnings vs Fair Ratio: MGL is good value based on its Price-To-Earnings Ratio (13.4x) compared to the estimated Fair Price-To-Earnings Ratio (17.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MGL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹1,143.40
₹1,305.07
+14.14%
11.38%₹1,822.00₹1,020.00n/a30
Jun ’27₹1,077.20
₹1,307.59
+21.39%
11.74%₹1,822.00₹1,020.00n/a29
May ’27₹1,135.65
₹1,349.17
+18.80%
15.02%₹1,880.00₹900.00n/a29
Apr ’27₹943.60
₹1,375.79
+45.80%
12.91%₹1,880.00₹950.00n/a29
Mar ’27₹1,219.80
₹1,382.43
+13.33%
12.80%₹1,880.00₹950.00n/a30
Feb ’27₹1,046.90
₹1,436.69
+37.23%
13.50%₹1,880.00₹955.00n/a29
Jan ’27₹1,128.10
₹1,458.23
+29.26%
12.91%₹1,880.00₹1,015.00n/a30
Dec ’26₹1,194.80
₹1,468.80
+22.93%
11.63%₹1,880.00₹1,095.00n/a30
Nov ’26₹1,276.90
₹1,468.07
+14.97%
11.96%₹1,880.00₹1,095.00n/a29
Oct ’26₹1,277.00
₹1,549.03
+21.30%
12.77%₹1,981.00₹1,100.00n/a29
Sep ’26₹1,264.80
₹1,550.69
+22.60%
12.87%₹1,981.00₹1,100.00n/a29
Aug ’26₹1,337.40
₹1,550.69
+15.95%
12.87%₹1,981.00₹1,100.00n/a29
Jul ’26₹1,491.20
₹1,538.76
+3.19%
13.52%₹1,960.00₹1,020.00₹1,162.0029
Jun ’26₹1,325.20
₹1,527.55
+15.27%
13.49%₹1,960.00₹1,020.00₹1,077.2029
May ’26₹1,346.10
₹1,528.93
+13.58%
16.11%₹2,000.00₹1,030.00₹1,135.6529
Apr ’26₹1,385.80
₹1,523.07
+9.91%
17.00%₹2,000.00₹1,030.00₹943.6029
Mar ’26₹1,237.50
₹1,508.79
+21.92%
17.21%₹2,000.00₹1,030.00₹1,219.8028
Feb ’26₹1,373.50
₹1,505.83
+9.63%
17.22%₹2,000.00₹1,030.00₹1,046.9030
Jan ’26₹1,282.25
₹1,555.96
+21.35%
21.08%₹2,200.00₹1,000.00₹1,128.1028
Dec ’25₹1,191.75
₹1,584.89
+32.99%
19.66%₹2,200.00₹1,000.00₹1,194.8028
Nov ’25₹1,446.05
₹1,695.79
+17.27%
16.93%₹2,320.00₹1,100.00₹1,276.9028
Oct ’25₹1,915.20
₹1,829.07
-4.50%
19.39%₹2,400.00₹1,160.00₹1,277.0029
Sep ’25₹1,792.10
₹1,774.50
-0.98%
19.20%₹2,302.00₹1,160.00₹1,264.8028
Aug ’25₹1,824.55
₹1,760.45
-3.51%
19.09%₹2,302.00₹1,160.00₹1,337.4029
Jul ’25₹1,746.80
₹1,468.28
-15.94%
14.05%₹1,859.00₹1,070.00₹1,491.2029
₹1.31k
Fair Value
12.4% undervalued intrinsic discount
30
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/02 12:02
End of Day Share Price 2026/07/02 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Mahanagar Gas Limited is covered by 43 analysts. 30 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Vivekanand SubbaramanAmbit Capital
null nullAntique Stockbroking Ltd.
Somaiah ValliyappanAvendus Spark