Moneycontrol PRO
HomeNewsBusinessStocksHold Mahanagar Gas; target of Rs 1410: Prabhudas Lilladher

Hold Mahanagar Gas; target of Rs 1410: Prabhudas Lilladher

Prabhudas Lilladher recommended hold rating on Mahanagar Gas with a target price of Rs 1410 in its research report dated May 07, 2025.

May 08, 2025 / 14:18 IST
Hold
     
     
    26 Aug, 2025 12:21
    Volume
    Todays L/H
    More

    Prabhudas Lilladher's research report on Mahanagar Gas

    We downgrade the stock from ‘Accumulate’ to “Hold” amid recent runup in the stock. MAHGL reported adj EBITDA of Rs3.2bn in Q4FY25, down 20% YoY (PLe: Rs3.6bn, BBGe: Rs3.5bn). Miss was mainly on account of higher opex. The adjustment is on account of reversal of discounts given to the OMCs of Rs633.5mn. Adj PAT came in at Rs2.1bn, down 22.6% YoY (PLe: Rs2.4bn, BBGe: Rs2.5bn). For the full year, adjusted EBITDA stood at Rs14.5bn, -21.5% YoY. FY25 adj PAT stood at Rs10bn, -22.7% YoY. We build in volume growth of 10% YoY for FY26/27 with EBITDA/scm of Rs10.

    Outlook

    We marginally revise TP to Rs 1410 based on 11x FY27E EPS. Downgrade to “Hold” due to limited upside in the stock. However, if there is any policy change encouraging adoption of CNG in its GAs or of PNG-industrial, it would further propel the stock.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Mahanagar Gas - 07052025 - prabhu

    Broker Research
    first published: May 8, 2025 02:17 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347