Fact based stock research
Mahanagar Gas (BSE:539957)

INE002S01010

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Mahanagar Gas stock research in summary

mahanagargas.com

ANALYSIS: With an Obermatt Combined Rank of 58 (better than 58% compared with investment alternatives), Mahanagar Gas (Gas Utilities, India) shares have above-average financial characteristics compared with similar stocks. Shares of Mahanagar Gas are low in value (priced high) with a consolidated Value Rank of 32 (worse than 68% of alternatives). But they show above-average growth (Growth Rank of 58) and are safely financed (Safety Rank of 84, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 58, is a buy recommendation based on Mahanagar Gas's financial characteristics. Investors looking for growth and low financial risk may find this stock attractive. While the company Mahanagar Gas exhibits low value (Obermatt Value Rank of 32), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 58). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 84) are a double-edged sword: if the company continues growing, low debt limits shareholder returns. But if the company increases its debt, it will also increase risk. In other words, this is an investment on the safer side, despite the above-average price (low value). Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	32
Growth Rank	58
Safety Rank	84
Combined Rank	58

Country	India
Industry	Gas Utilities
Index
Size class	X-Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Mahanagar Gas

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	42	47	32	32
GROWTH
GROWTH	71	71	36	58
SAFETY
SAFETY	95	99	86	84
SENTIMENT
SENTIMENT	92	92	52	^new
360° VIEW
360° VIEW	98	100	51	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Mahanagar Gas is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	42	47	32	32
GROWTH
GROWTH	71	71	36	58
SAFETY
SAFETY	95	99	86	84
COMBINED
COMBINED	92	92	59	58

Last update of combined financial performance: 24-Apr-2025. Stock analysis on combined financial performance: The higher the rank of Mahanagar Gas the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 32 (worse than 68% compared with alternatives), Mahanagar Gas shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with three out of four indicators below average for Mahanagar Gas. Only Price-to-Profit (also referred to as price-earnings, P/E) indicates good stock value with a rank of 57, which means that the stock price compared with what market professionals expect for future profits is lower than for 57% of comparable companies, indicating a good value concerning Mahanagar Gas's profit levels. But Price-to-Sales is 43 which means that the stock price compared with what market professionals expect for future profits is higher than for 57% of comparable companies, indicating a low value concerning Mahanagar Gas's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 39 and for dividend yield, which is lower than for 66% of comparable companies, making the stock more expensive as regards to the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 32, is a hold recommendation based on Mahanagar Gas's stock price compared with the company's operational size and dividend yields. Can we rely on only one good value indicator? Only if we know the company well. In this case, a high Price-to-Profit Rank, while Price-to-Sales and Price-to-Book are both below the market typical levels, means that the company can charge higher prices for its products and needs less capital to produce them. If this is sustainable, then Mahanagar Gas is a good investment because profits count most in enterprise valuations. The low dividend yield indicates that the company is confident it can do something with the generated cash that is more valuable than paying the profits out to the shareholders in the form of dividends. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	37	42	36	43
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	65	65	60	57
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	32	28	35	39
DIVIDEND YIELD
DIVIDEND YIELD	54	55	34	34
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	42	47	32	32

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Mahanagar Gas; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 58 (better than 58% compared with alternatives), Mahanagar Gas shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Mahanagar Gas. Sales Growth has a rank of 85 which means that currently, professionals expect the company to grow more than 85% of its competitors. Capital Growth is also above 48% of competitors with a rank of 70. But Profit Growth only has a rank of 48, which means that currently professionals expect the company to grow its profits less than 52% of its competitors. And Stock Returns have also been below average with a rank of only 12. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 58, is a buy recommendation for growth and momentum investors. Profits are sometimes low if the company invests in the future. The positive revenue and capital investment outlook confirms such an interpretation. Both revenues and capital are solid growth indicators, and lower profits in such a case would be encouraging. But the investors see it differently by punishing the share price. Sometimes, Mister Market is not very reliable, because it is not uncommon for it to be volatile. Investors should look out for signs of growth expenditure that could justify low profit growth, and they may also find reasons why recent stock price developments don't confirm the growth outlook of operations. While operating growth indicators are not perfect, they are more reliable indicators for future performance than stock prices that can repeatedly surprise investors. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	83	53	94	85
PROFIT GROWTH
PROFIT GROWTH	70	71	19	48
CAPITAL GROWTH
CAPITAL GROWTH	66	46	36	70
STOCK RETURNS
STOCK RETURNS	19	55	26	12
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	71	71	36	58

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Mahanagar Gas.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 84 (better than 84% compared with alternatives) for 2025, the company Mahanagar Gas has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Mahanagar Gas is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Mahanagar Gas. Leverage is at a rank of 91, meaning the company has a below-average debt-to-equity ratio. It has less debt than 91% of its competitors. Liquidity is also good at a rank of 92, meaning the company generates more profit to service its debt than 92% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 22, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 78% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 84 (better than 84% compared with alternatives), Mahanagar Gas has a financing structure that is significantly safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Mahanagar Gas. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Mahanagar Gas and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	96	90	91	91
REFINANCING
REFINANCING	41	49	32	22
LIQUIDITY
LIQUIDITY	97	95	92	92
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	95	99	86	84

Last update of Safety Rank: 24-Apr-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Mahanagar Gas and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	81	37	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	47	^new
PRO HOLDINGS
PRO HOLDINGS	74	77	50	^new
MARKET PULSE
MARKET PULSE	59	69	56	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	92	92	52	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Mahanagar Gas.
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