Mahanagar Gas Ltd.

Financial

	Mahanagar Gas	Indraprastha Gas	Gujarat Gas
Operational Metrics
City Gas
Daily Sales Volume - PNG	1.26 mmscmd	2.37 mmscmd	5.54 mmscmd
Infrastructure
Daily Sales Volume - CNG	3.01 mmscmd	6.86 mmscmd	3.33 mmscmd
Oil Refining Sector
Realization / SCM - Natural Gas	51.2 Rs/SCM	46.99 Rs/SCM	50.86 Rs/SCM
Realization / SCM - PNG	47.62 Rs/SCM	47.26 Rs/SCM	n/a
Realization / SCM - CNG	52.44 Rs/SCM	46.9 Rs/SCM	n/a
Daily Sales Volume - Natural Gas	4.28 mmscmd	9.13 mmscmd	8.88 mmscmd
Financials
5 yr Average ROE	20.6 %	20.58 %	24.79 %
5yr average Equity Multiplier	1.43	1.47	1.81
5yr Average Asset Turnover Ratio	0.93	0.84	1.41
5yr Avg Net Profit Margin	15.76 %	17.65 %	9.75 %
Price to Book	2.22	2.67	3.49
P/E	12.19	16.99	25.84
5yr Avg Cash Conversion Cycle	-13.12 Days	-11.24 Days	2.64 Days
Inventory Days	1.98 Days	2.02 Days	1.5 Days
Days Receivable	15.11 Days	22.69 Days	22.97 Days
Days Payable	30.15 Days	38.96 Days	18.12 Days
5yr Average Interest Coverage Ratio	114.25	79.29	20.72
5yr Avg ROCE	25.61 %	22.18 %	24.21 %
5yr Avg Operating Profit Margin	23.23 %	21.97 %	15.32 %
5 yr average Debt to Equity	0.0	0.0	0.18
5yr CAGR Net Profit	5.66 %	9.71 %	-0.94 %
5yr Average Return on Assets	14.46 %	14.0 %	13.44 %
Shareholdings
Promoter Holding	32.5 %	45.0 %	60.89 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.0	0.0	0.0
Change in Mutual Fund Holding (3 Yrs)	8.1 %	2.67 %	-2.26 %

Business

	Mahanagar Gas	Indraprastha Gas	Gujarat Gas
Product Wise Break-Up	Product Wise Break-Up CNG 70.28 PNG 29.41 Piped Natural Gas (PNG) 0 Compressed Natural Gas (CNG) 0 Commercial PNG 0 Domestic PNG 0 Industrial PNG 0 City Gas 0 Others 0.31	Product Wise Break-Up City Gas 0 Industrial PNG 0 PNG 0 Piped Natural Gas (PNG) 24.21 Domestic PNG 0 CNG 0 Commercial PNG 0 Compressed Natural Gas (CNG) 75.75 Others 0.04	Product Wise Break-Up City Gas 0 Industrial PNG 68.4 PNG 0 Piped Natural Gas (PNG) 0 Domestic PNG 8.1 CNG 21.8 Commercial PNG 1.7 Compressed Natural Gas (CNG) 0
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up Rest of the World 0 NCR 100.0	Location Wise Break-Up Rest of the World 0 India 100.0
Customer Segment	Customer Segment CNG 69.96 Industrial PNG 15.98 Domestic PNG 14.06 Commercial PNG 0 Retail 0 Industrial & Commercial 0	-	Customer Segment Industrial PNG 0 Retail 29.9 Domestic PNG 0 CNG 0 Industrial & Commercial 70.1 Commercial PNG 0
Asset Break-Up - Geography Wise	Asset Break-Up - Geography Wise India 100.0	-	Asset Break-Up - Geography Wise India 100.0