Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Mahanagar Gas Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,610 | 1,538 | 1,571 | 1,569 | 1,567 | 1,590 | 1,786 | 1,758 | 1,963 | 2,081 | 2,049 | 2,058 | 2,051 |
| Expenses + | 1,221 | 1,017 | 1,092 | 1,120 | 1,173 | 1,171 | 1,373 | 1,443 | 1,568 | 1,581 | 1,711 | 1,706 | 1,791 |
| Operating Profit | 390 | 521 | 479 | 449 | 394 | 418 | 413 | 314 | 395 | 501 | 338 | 352 | 260 |
| OPM % | 24% | 34% | 30% | 29% | 25% | 26% | 23% | 18% | 20% | 24% | 16% | 17% | 13% |
| Other Income + | 34 | 39 | 44 | 48 | 45 | 40 | 47 | 46 | 42 | 32 | 29 | 29 | 29 |
| Interest | 2 | 3 | 2 | 3 | 4 | 3 | 3 | 3 | 4 | 4 | 5 | 6 | 5 |
| Depreciation | 64 | 62 | 66 | 68 | 78 | 72 | 84 | 79 | 95 | 96 | 104 | 103 | 106 |
| Profit before tax | 357 | 496 | 454 | 426 | 357 | 384 | 373 | 278 | 338 | 432 | 258 | 272 | 178 |
| Tax % | 25% | 26% | 25% | 26% | 26% | 26% | 23% | 19% | 28% | 26% | 25% | 26% | 26% |
| Net Profit + | 269 | 368 | 338 | 317 | 265 | 285 | 287 | 225 | 242 | 320 | 193 | 202 | 132 |
| EPS in Rs | 27.21 | 37.30 | 34.27 | 32.11 | 26.83 | 28.81 | 29.03 | 22.82 | 24.53 | 32.35 | 19.58 | 20.45 | 13.36 |
Financials of Mahanagar Gas Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,095 | 2,078 | 2,034 | 2,233 | 2,791 | 2,972 | 2,153 | 3,560 | 6,299 | 6,245 | 6,924 | 8,240 |
| Expenses + | 1,605 | 1,569 | 1,390 | 1,453 | 1,906 | 1,919 | 1,219 | 2,636 | 5,115 | 4,402 | 5,414 | 6,789 |
| Operating Profit | 490 | 509 | 644 | 780 | 885 | 1,053 | 934 | 924 | 1,184 | 1,843 | 1,510 | 1,451 |
| OPM % | 23% | 24% | 32% | 35% | 32% | 35% | 43% | 26% | 19% | 30% | 22% | 18% |
| Other Income + | 41 | 47 | 53 | 58 | 78 | 99 | 81 | 86 | 112 | 175 | 184 | 119 |
| Interest | 1 | 2 | 1 | 0 | 0 | 7 | 7 | 8 | 9 | 12 | 13 | 21 |
| Depreciation | 80 | 83 | 95 | 111 | 126 | 162 | 174 | 196 | 231 | 274 | 306 | 409 |
| Profit before tax | 449 | 472 | 601 | 727 | 837 | 984 | 834 | 806 | 1,056 | 1,733 | 1,374 | 1,141 |
| Tax % | 33% | 34% | 34% | 34% | 35% | 19% | 26% | 26% | 25% | 26% | 24% | 26% |
| Net Profit + | 301 | 311 | 393 | 478 | 546 | 794 | 620 | 597 | 790 | 1,289 | 1,045 | 847 |
| EPS in Rs | 33.69 | 34.80 | 39.83 | 48.38 | 55.32 | 80.33 | 62.72 | 60.43 | 79.98 | 130.50 | 105.78 | 85.73 |
| Dividend Payout % | 52% | 50% | 48% | 39% | 36% | 44% | 37% | 41% | 20% | 23% | 28% | 0% |
Financials of Mahanagar Gas Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 89 | 89 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 |
| Reserves | 1,318 | 1,639 | 1,741 | 1,997 | 2,300 | 2,854 | 3,134 | 3,499 | 4,035 | 5,044 | 5,791 | 6,335 |
| Borrowings + | 16 | 5 | 3 | 1 | 0 | 67 | 74 | 103 | 115 | 139 | 164 | 219 |
| Other Liabilities + | 743 | 637 | 782 | 914 | 1,042 | 1,109 | 1,295 | 1,534 | 1,783 | 1,944 | 2,150 | 2,312 |
| Total Liabilities | 2,166 | 2,370 | 2,624 | 3,010 | 3,441 | 4,128 | 4,601 | 5,234 | 6,032 | 7,226 | 8,204 | 8,965 |
| Fixed Assets + | 1,064 | 1,129 | 1,305 | 1,532 | 1,763 | 2,049 | 2,169 | 2,614 | 3,026 | 3,543 | 4,104 | 5,373 |
| CWIP | 380 | 429 | 412 | 357 | 370 | 487 | 560 | 616 | 709 | 774 | 974 | 1,259 |
| Investments | 371 | 393 | 467 | 688 | 654 | 1,121 | 1,025 | 1,088 | 1,310 | 1,636 | 1,740 | 1,169 |
| Other Assets + | 350 | 419 | 441 | 434 | 654 | 471 | 847 | 916 | 988 | 1,273 | 1,385 | 1,163 |
| Total Assets | 2,166 | 2,370 | 2,624 | 3,010 | 3,441 | 4,128 | 4,601 | 5,234 | 6,032 | 7,226 | 8,204 | 8,965 |
Financials of Mahanagar Gas Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 427 | 419 | 532 | 652 | 685 | 985 | 806 | 904 | 969 | 1,563 | 1,368 | 1,147 |
| Cash from Investing Activity + | -261 | -222 | -263 | -419 | -439 | -755 | -444 | -539 | -649 | -1,267 | -1,001 | -874 |
| Cash from Financing Activity + | -176 | -191 | -284 | -226 | -235 | -242 | -349 | -310 | -285 | -312 | -336 | -368 |
| Net Cash Flow | -10 | 5 | -15 | 8 | 12 | -11 | 13 | 54 | 35 | -15 | 32 | -95 |
| Free Cash Flow | 229 | 204 | 278 | 383 | 322 | 559 | 466 | 256 | 257 | 793 | 300 | 87 |
| CFO/OP | 116% | 112% | 112% | 113% | 108% | 116% | 108% | 121% | 104% | 108% | 108% | 97% |
Financials of Mahanagar Gas Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 17 | 16 | 17 | 14 | 13 | 8 | 22 | 19 | 17 | 16 | 18 | 20 |
| Inventory Days | 5 | 5 | 8 | 8 | 5 | 5 | 11 | 5 | 3 | 4 | 4 | 4 |
| Days Payable | 32 | 33 | 43 | 39 | 40 | 35 | 76 | 48 | 26 | 34 | 34 | 31 |
| Cash Conversion Cycle | -10 | -12 | -18 | -16 | -22 | -21 | -44 | -24 | -7 | -13 | -12 | -6 |
| Working Capital Days | -80 | -59 | -79 | -86 | -78 | -97 | -152 | -106 | -63 | -72 | -70 | -11 |
| ROCE % | 33% | 30% | 34% | 37% | 37% | 37% | 27% | 23% | 27% | 34% | 23% | 18% |