MGL Announces Dividend: MGL, short for Mahanagar Gas Ltd (NSE), a company with a market capitalization of ₹14,615 crore, announced an interim dividend of ₹12 per share to its shareholders on January 23, 2024, to be distributed on February 5, 2024.
Following this news, there was a surge in interest among investors to buy shares of this stock, leading to an increase in its price by more than ₹100 within a week. Analyzing the stock’s previous data reveals an upward trend. The share price, which was ₹1200 in December 2023, surged to ₹1463.50 on February 1, 2024. This indicates a jump of ₹263 per share compared to the previous month.
Moreover, the weekly, monthly, and yearly trends suggest that the stock price is likely to continue rising, supported by the company’s strong financial performance. Looking at the revenue and profits of MGL over the past five years, it’s evident that the company has witnessed significant growth, allowing it to consistently reward its shareholders with both interim and final dividends.
MGL’s Income for Last 5 Years
| Year | Yearly Revenue (in Rs. Cr) |
|---|---|
| 2023 | ₹6411 cr |
| 2022 | ₹3646 cr |
| 2021 | ₹2233 cr |
| 2020 | ₹3071 cr |
| 2019 | ₹2869 cr |
MGL’s Profit for Last 5 years
| Year | Yearly Profit in Rs. Cr |
|---|---|
| 2023 | ₹790 cr |
| 2022 | ₹597 cr |
| 2021 | ₹620 cr |
| 2020 | ₹794 cr |
| 2019 | ₹546 cr |
Also read: MGL Share Price Target 2024, 2025, 2026
Furthermore, the company’s shareholding pattern indicates consistent participation from Foreign Institutional Investors (FIIs), with their ownership ranging from 30.51% to 32.38% over recent quarters. The promoters maintain a stable stake of 32.50%, while Domestic Institutions (DIs) hold between 13.01% and 14.40% of the company’s shares.
FII’s Share in MGL
- 30.85% in December 2023:
- 30.51% in September 2023
- 32.38% in June 2023
- 30.95% in March 2023
Promotors Share in MGL
- 32.50% in December 2023
- 32.50% in September 2023
- 32.50% in June 2023
- 32.50% in March 2023
DI Share in MGL
- 13.25% in December 2023
- 14.40% in September 2023
- 13.01% in June 2023
- 13.12% in March 2023
MGL’s Fundamentals
Assessing MGL’s Fundamentals, its Return on Equity (ROE) stands at 20.44%, Net Profit Margin at 12.32%, Price-to-Earnings (PE) ratio at 18.49, Price-to-Book (PB) ratio at 3.53, and cash flow margin at 15.12%. Compared to its 11 competitors, this stock ranks second. Currently, the stock price is below its intrinsic value, which is a positive indicator for traders.
