Mahanagar Gas Limited (MGL) - Net Assets

Latest as of September 2025: Rs62.23 Billion INR ≈ $673.04 Million USD

Based on the latest financial reports, Mahanagar Gas Limited (MGL) has net assets worth Rs62.23 Billion INR (≈ $673.04 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs86.65 Billion ≈ $937.04 Million USD) and total liabilities (Rs24.41 Billion ≈ $264.01 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Mahanagar Gas Limited asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs62.23 Billion
% of Total Assets	71.83%
Annual Growth Rate	14.23%
5-Year Change	82.37%
10-Year Change	285.79%
Growth Volatility	7.25

Mahanagar Gas Limited - Net Assets Trend (2011–2025)

This chart illustrates how Mahanagar Gas Limited's net assets have evolved over time, based on quarterly financial data. Also explore MGL total asset value for the complete picture of this company's asset base.

Annual Net Assets for Mahanagar Gas Limited (2011–2025)

The table below shows the annual net assets of Mahanagar Gas Limited from 2011 to 2025. For live valuation and market cap data, see MGL market cap overview.

Year	Net Assets	Change
2025-03-31	Rs58.95 Billion ≈ $637.50 Million	+14.79%
2024-03-31	Rs51.35 Billion ≈ $555.34 Million	+24.21%
2023-03-31	Rs41.34 Billion ≈ $447.10 Million	+14.92%
2022-03-31	Rs35.97 Billion ≈ $389.04 Million	+11.29%
2021-03-31	Rs32.32 Billion ≈ $349.57 Million	+9.47%
2020-03-31	Rs29.53 Billion ≈ $319.32 Million	+23.09%
2019-03-31	Rs23.99 Billion ≈ $259.43 Million	+14.49%
2018-03-31	Rs20.95 Billion ≈ $226.60 Million	+13.88%
2017-03-31	Rs18.40 Billion ≈ $198.99 Million	+20.42%
2016-03-31	Rs15.28 Billion ≈ $165.24 Million	-4.74%
2015-03-31	Rs16.04 Billion ≈ $173.47 Million	+23.68%
2014-03-31	Rs12.97 Billion ≈ $140.26 Million	+9.67%
2013-03-31	Rs11.83 Billion ≈ $127.90 Million	+10.83%
2012-03-31	Rs10.67 Billion ≈ $115.40 Million	+16.61%
2011-03-31	Rs9.15 Billion ≈ $98.96 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Mahanagar Gas Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 575.3% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs55.76 Billion	94.83%
Common Stock	Rs987.80 Million	1.68%
Other Comprehensive Income	Rs2.05 Billion	3.49%
Total Equity	Rs58.80 Billion	100.00%

Mahanagar Gas Limited Competitors by Market Cap

The table below lists competitors of Mahanagar Gas Limited ranked by their market capitalization.

Company	Market Cap
YCC CORP KQ:232140	$1.21 Billion
Jiangsu Favored Nanotechnology Co. Ltd. A SHG:688371	$1.21 Billion
H&K AG PA:MLHK	$1.21 Billion
Bitfarms Ltd NASDAQ:BITF	$1.21 Billion
Tanac Automation Co Ltd SHE:300461	$1.21 Billion
Kinh Bac City Development Share Holding Corp VN:KBC	$1.21 Billion
China Harzone Industry Corp Ltd SHE:300527	$1.21 Billion
Malion New Materials Co Ltd SHE:300586	$1.21 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Mahanagar Gas Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 51,302,100,000 to 58,801,800,000, a change of 7,499,700,000 (14.6%).
Net income of 10,405,700,000 contributed positively to equity growth.
Dividend payments of 2,963,800,000 reduced retained earnings.
New share issuances of 98,000,000 increased equity.
Other comprehensive income decreased equity by 63,600,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs10.41 Billion	+17.7%
Dividends Paid	Rs2.96 Billion	-5.04%
Share Issuances	Rs98.00 Million	+0.17%
Other Comprehensive Income	Rs-63.60 Million	-0.11%
Other Changes	Rs23.40 Million	+0.04%
Total Change	Rs-	14.62%

Book Value vs Market Value Analysis

This analysis compares Mahanagar Gas Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.91x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 12.26x to 1.91x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2011-03-31	Rs92.64	Rs1135.65	x
2012-03-31	Rs108.02	Rs1135.65	x
2013-03-31	Rs119.73	Rs1135.65	x
2014-03-31	Rs131.30	Rs1135.65	x
2015-03-31	Rs162.39	Rs1135.65	x
2016-03-31	Rs154.69	Rs1135.65	x
2017-03-31	Rs186.28	Rs1135.65	x
2018-03-31	Rs212.13	Rs1135.65	x
2019-03-31	Rs242.86	Rs1135.65	x
2020-03-31	Rs298.92	Rs1135.65	x
2021-03-31	Rs327.24	Rs1135.65	x
2022-03-31	Rs364.18	Rs1135.65	x
2023-03-31	Rs418.54	Rs1135.65	x
2024-03-31	Rs519.37	Rs1135.65	x
2025-03-31	Rs595.21	Rs1135.65	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Mahanagar Gas Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 17.70%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 14.33%
• Asset Turnover: 0.88x
• Equity Multiplier: 1.41x
Recent ROE (17.70%) is below the historical average (22.13%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2011	24.64%	21.45%	0.82x	1.40x	Rs1.34 Billion
2012	28.84%	23.69%	0.84x	1.45x	Rs2.01 Billion
2013	25.24%	19.92%	0.84x	1.51x	Rs1.80 Billion
2014	22.92%	15.90%	0.95x	1.52x	Rs1.68 Billion
2015	18.77%	14.48%	0.96x	1.35x	Rs1.41 Billion
2016	20.20%	14.94%	0.88x	1.54x	Rs1.56 Billion
2017	21.38%	19.48%	0.77x	1.43x	Rs2.09 Billion
2018	22.81%	21.55%	0.74x	1.44x	Rs2.68 Billion
2019	22.78%	19.72%	0.81x	1.43x	Rs3.07 Billion
2020	26.87%	26.89%	0.71x	1.40x	Rs4.98 Billion
2021	19.17%	28.78%	0.47x	1.42x	Rs2.96 Billion
2022	16.59%	16.77%	0.68x	1.45x	Rs2.37 Billion
2023	19.11%	12.54%	1.04x	1.46x	Rs3.77 Billion
2024	24.88%	20.29%	0.85x	1.44x	Rs7.63 Billion
2025	17.70%	14.33%	0.88x	1.41x	Rs4.53 Billion

Industry Comparison

This section compares Mahanagar Gas Limited's net assets metrics with peer companies in the Utilities - Regulated Gas industry.

Industry Context

Industry: Utilities - Regulated Gas
Average net assets among peers: $77,299,611,140
Average return on equity (ROE) among peers: 19.50%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Mahanagar Gas Limited (MGL)	Rs62.23 Billion	24.64%	0.39x	$1.21 Billion
Adani Total Gas Limited (ATGL)	$14.71 Billion	29.66%	0.68x	$7.55 Billion
GAIL (India) Limited (GAIL)	$302.51 Billion	14.46%	0.98x	$11.61 Billion
Gujarat State Petronet Limited (GSPL)	$20.05 Billion	25.26%	1.25x	$1.74 Billion
Gujarat Gas Limited (GUJGASLTD)	$16.64 Billion	13.26%	2.83x	$2.83 Billion
Indraprastha Gas Limited (IGL)	$106.42 Billion	16.14%	0.46x	$2.51 Billion
IRM ENERGY LTD (IRMENERGY)	$3.46 Billion	18.23%	1.29x	$158.48 Million

About Mahanagar Gas Limited

NSE:MGL India Utilities - Regulated Gas

Market Cap

$1.21 Billion

Rs112.18 Billion INR

Market Cap Rank

#8292 Global

#392 in India

Share Price

Rs1135.65

Change (1 day)

-0.90%

52-Week Range

Rs908.40 - Rs1542.40

All Time High

Rs1964.95