Mahanagar Gas - 4QFY21 by Mr. Yash Gupta, Angel Broking Ltd

01-01-1970 12:00 AM | Source: Angel Broking Ltd

Mahanagar Gas - 4QFY21 by Mr. Yash Gupta, Angel Broking Ltd

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Below are Quote on Mahanagar Gas - 4QFY21 by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd

Mahanagar Gas Limited reported revenue growth of 12% in Q4FY21 on back of better than expected realizations. On volume front the company has reported a growth of 2.6% as domestic PNG and CNG has shown a growth of 2.5% & 1% while Commercial & Industrial PNG has reported degrowth of 6% YoY. In Q4FY21 was a low base year for the company due to the last 15 day of the quarter being hit by the covid 19 pandemic but then the company has reported the volume growth of 3% in this quarter.

As we have seen a Full lockdown in Maharashtra is continuing and expected to be there till mid of June, so next quarter will again be challenging for the company. We are expecting a volume degrowth of 5%-15% in next quarter and after that expecting a recovery in Q2FY22 . We have a positive outlook towards the Mahanagar gas limited with a target price of ₹1215.

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Mahanagar Gas - 4QFY21 by Mr. Yash Gupta, Angel Broking Ltd

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