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Mahanagar Gas Valuation Multiples
Discover revenue and EBITDA valuation multiples for Mahanagar Gas and similar public comparables like World Kinect, Tetra Technologies, Dor Alon Energy, Athens Water Supply and more.
Mahanagar Gas Overview
About Mahanagar Gas
Mahanagar Gas Ltd is an India-based natural gas distribution company. It distributes natural gas through the City Gas Distribution network of pipelines. It distributes compressed natural gas (CNG) for use in vehicles and piped natural gas (PNG) for domestic household, commercial, and industrial use, and to transport sector customers as well. The company operates under the business segment of the sale of natural gas. Its business operations are principally carried out in India. The company generates revenue by selling natural gas, of which the sale of CNG accounts majorly for the total gas sales revenue.
Founded
1995
HQ
Employees
582
Website
Sectors
Financials (LTM)
EV
$1B
Mahanagar Gas Financials
Mahanagar Gas reported last 12-month revenue of $883M and EBITDA of $162M.
In the same LTM period, Mahanagar Gas generated $268M in gross profit, $162M in EBITDA, and $100M in net income.
Revenue (LTM)
Mahanagar Gas P&L
In the most recent fiscal year, Mahanagar Gas reported revenue of $818M and EBITDA of $187M.
Mahanagar Gas expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $883M | XXX | $818M | XXX | XXX | XXX |
| Gross Profit | $268M | XXX | $243M | XXX | XXX | XXX |
| Gross Margin | 30% | XXX | 30% | XXX | XXX | XXX |
| EBITDA | $162M | XXX | $187M | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 23% | XXX | XXX | XXX |
| EBIT Margin | 14% | XXX | 17% | XXX | XXX | XXX |
| Net Profit | $100M | XXX | $121M | XXX | XXX | XXX |
| Net Margin | 11% | XXX | 15% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Mahanagar Gas Stock Performance
Mahanagar Gas has current market cap of $1B, and enterprise value of $1B.
Market Cap Evolution
Mahanagar Gas' stock price is $12.16.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1B | $1B | 0.5% | XXX | XXX | XXX | $1.23 |
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Start Free TrialMahanagar Gas Valuation Multiples
Mahanagar Gas trades at 1.2x EV/Revenue multiple, and 6.6x EV/EBITDA.
EV / Revenue (LTM)
Mahanagar Gas Financial Valuation Multiples
As of April 19, 2026, Mahanagar Gas has market cap of $1B and EV of $1B.
Equity research analysts estimate Mahanagar Gas' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Mahanagar Gas has a P/E ratio of 12.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $1B | XXX | $1B | XXX | XXX | XXX |
| EV (current) | $1B | XXX | $1B | XXX | XXX | XXX |
| EV/Revenue | 1.2x | XXX | 1.3x | XXX | XXX | XXX |
| EV/EBITDA | 6.6x | XXX | 5.7x | XXX | XXX | XXX |
| EV/EBIT | 9.0x | XXX | 7.6x | XXX | XXX | XXX |
| EV/Gross Profit | 4.0x | XXX | 4.4x | XXX | XXX | XXX |
| P/E | 12.0x | XXX | 9.9x | XXX | XXX | XXX |
| EV/FCF | 27.1x | XXX | 35.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Mahanagar Gas Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Mahanagar Gas Margins & Growth Rates
Mahanagar Gas' revenue in the last 12 month grew by 11%.
Mahanagar Gas' revenue per employee in the last FY averaged $1.4M, while opex per employee averaged $0.2M for the same period.
Mahanagar Gas' rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Mahanagar Gas' rule of X is 46% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Mahanagar Gas Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 11% | XXX | 7% | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 23% | XXX | XXX | XXX |
| EBITDA Growth | 6% | XXX | (14%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 29% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 46% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 13% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Mahanagar Gas Public Comps
See public comps and valuation multiples for other Utilities and Energy Services comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Mahanagar Gas | XXX | XXX | XXX | XXX | XXX | XXX |
| World Kinect | XXX | XXX | XXX | XXX | XXX | XXX |
| Tetra Technologies | XXX | XXX | XXX | XXX | XXX | XXX |
| Dor Alon Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Athens Water Supply | XXX | XXX | XXX | XXX | XXX | XXX |
| WaterBridge Infrastructure | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Mahanagar Gas M&A Activity
Mahanagar Gas acquired XXX companies to date.
Last acquisition by Mahanagar Gas was on XXXXXXXX, XXXXX. Mahanagar Gas acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Mahanagar Gas
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialMahanagar Gas Investment Activity
Mahanagar Gas invested in XXX companies to date.
Mahanagar Gas made its latest investment on XXXXXXXX, XXXXX. Mahanagar Gas invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Mahanagar Gas
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Mahanagar Gas
| When was Mahanagar Gas founded? | Mahanagar Gas was founded in 1995. |
| Where is Mahanagar Gas headquartered? | Mahanagar Gas is headquartered in India. |
| How many employees does Mahanagar Gas have? | As of today, Mahanagar Gas has over 582 employees. |
| Is Mahanagar Gas publicly listed? | Yes, Mahanagar Gas is a public company listed on National Stock Exchange of India. |
| What is the stock symbol of Mahanagar Gas? | Mahanagar Gas trades under MGL ticker. |
| When did Mahanagar Gas go public? | Mahanagar Gas went public in 2016. |
| Who are competitors of Mahanagar Gas? | Mahanagar Gas main competitors are World Kinect, Tetra Technologies, Dor Alon Energy, Athens Water Supply. |
| What is the current market cap of Mahanagar Gas? | Mahanagar Gas' current market cap is $1B. |
| What is the current revenue of Mahanagar Gas? | Mahanagar Gas' last 12 months revenue is $883M. |
| What is the current revenue growth of Mahanagar Gas? | Mahanagar Gas revenue growth (NTM/LTM) is 11%. |
| What is the current EV/Revenue multiple of Mahanagar Gas? | Current revenue multiple of Mahanagar Gas is 1.2x. |
| Is Mahanagar Gas profitable? | Yes, Mahanagar Gas is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Mahanagar Gas? | Mahanagar Gas' last 12 months EBITDA is $162M. |
| What is Mahanagar Gas' EBITDA margin? | Mahanagar Gas' last 12 months EBITDA margin is 18%. |
| What is the current EV/EBITDA multiple of Mahanagar Gas? | Current EBITDA multiple of Mahanagar Gas is 6.6x. |
| What is the current FCF of Mahanagar Gas? | Mahanagar Gas' last 12 months FCF is $40M. |
| What is Mahanagar Gas' FCF margin? | Mahanagar Gas' last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of Mahanagar Gas? | Current FCF multiple of Mahanagar Gas is 27.1x. |
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