实时全球研报
Mahanagar Gas (MGAS.BO): 模型更新
PDF 第一页内容摘录（原文）
Flash |
31 Jul 2026 09:37:32 ET │ 13 pages
Mahanagar Gas (MGAS.BO)
Model Update
CITI'S TAKE
Buy
Price (31 Jul 26 15:30)
Rs1,114.00
Target price
Rs1,290.00↓
from Rs1,400.00
Expected share price return
15.8%
Expected dividend yield
2.1%
Expected total return
17.9%
Market Cap
Rs110,038M
US$1,150M
We raise our FY27E EBITDA by 9% on better-than-expected margins and
volumes in 1Q, although we lower our longer-term margin assumption
that leads to a 13% cut in our FY29E EBITDA. We forecast a volume CAGR
of 7% over FY26-29E and EBITDA margins of Rs7-7.5/scm over this
period, which is below management’s target of Rs8+/scm. Our revised
target price stands at Rs1,290 vs. Rs1,400 earlier.
Saurabh HandaAC
Earnings Summary
Year to
Net Profit
Diluted EPS
EPS growth
P/E
P/B
ROE
Yield
31 Mar
(RsM)
(Rs)
(%)
(x)
(%)
2025A
10,413
105.41
-19.2
10.6
1.9
18.9
2.7
2026A
8,468
85.73
-18.7
13.0
1.7
13.8
2.7
2027E
6,788
68.72
-19.8
16.2
1.6
10.2
2.1
2028E
7,787
78.83
14.7
14.1
1.5
10.9
2.4
2029E
8,262
83.65
6.1
13.3
1.4
10.8
2.9
Source: Powered by dataCentral
本摘录由系统从 PDF 第一页自动提取，可能存在版式或识别误差；登录后可查看访问权限。
打开研报阅读器