ICICI Direct's research report on Mahanagar Gas
Mahanagar Gas (MGL) is a city gas distribution company and operates in Mumbai, its adjoining areas and Raigad district, Maharashtra. CNG sales contribute more than 70% of its total sales volume It has consistently reported high gross margins and return ratios
Outlook
We remain positive and maintain our BUY rating on the stock We value MGL at Rs 1340 i.e. 12.5x P/E on FY23E EPS
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