Buy Mahanagar Gas, target price Rs 2264: Anand Rathi

Anand Rathi has buy call on Mahanagar Gas with a target price of Rs 2264. The current market price of Mahanagar Gas Ltd. is Rs 1857.2.

Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 18174.62 Crore) operating in Gas & Petroleum sector.

Mahanagar Gas Ltd. key Products/Revenue Segments include Gas Natural, Other Operating Revenue and Pipes & Fittings for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 1701.41 Crore, up 2.70 % from last quarter Total Income of Rs 1656.74 Crore and down -9.84 % from last year same quarter Total Income of Rs 1887.14 Crore. Company reported net profit after tax of Rs 288.77 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 65.0 per cent stake in the company as of 30-Jun-2024, while FIIs owned 62.98 per cent, DIIs 33.34 per cent.