Sunday, September 12, 2021

Mahanagar Gas Ltd ( 539957 ) – Rising piped cooking gas prices

Mahanagar Gas Ltd ( 539957 )closes   at ₹1168.60 with  a  Fall   of   -0.70%   on    on    09-September-2021  with formation of  a  Small Red Candle    on Daily  Price Chart.

About the Company : Mahanagar Gas Ltd is in the business of City Gas Distribution (CGD), presently supplying Natural Gas in the city of Mumbai including its adjoining areas and the Raigad district, in the State of Maharashtra, India.

Sector Update :  Positive

Financials : Mahanagar Gas Ltd has posted Net Sales / Revenue   of ₹2152.30 Cr & Net Profit ₹619.60 Cr in FY2021 and expected to post Net Sales / Revenue   of ₹2989.20 Cr & Net Profit of ₹847.20Cr in FY2022 & Net Sales / Revenue   of ₹3500.90Cr & Net Profit of ₹924.20Cr in FY2023  and  Net Sales / Revenue   of ₹3803.20 Cr & Net Profit of ₹935.90 Cr in FY2024 .

EPS will improved from 62.70 in FY2021 to 94.70 by FY2024. Net Cash Position will increase from ₹511.90Cr to ₹1801.40Cr; Bool Value per Share from ₹327 to ₹479 and Cash Flow per Share from ₹96.40 to ₹152 during the same period.

Valuations  : The Company is now Trading at X1.20 of its  valuations of  FY2021 earnings with ~20% Premium and X0.8 of its FY2022 earnings with ~16% Discount and  X0.77 of its FY2023 earnings with ~23%  Discount and X0.76 of its FY2024 earnings with ~24%  Discount.

Margin of Safety (1Yr Bond Yield: Value>1 ) is now  1.3   which  makes is attractive . The  Equity Value Per Share ( Enterprise Value Method ) is  ₹1117.00

Early Trend: Piped cooking gas prices may rise 10-11% in October 2021

If We factor its FY2023 earnings/valuations, its Price arrives at ₹1916.

Disclaimer : We are / may going to take exposure shortly.

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