Mahanagar GasNSE:MGL -1.79%97 Net Margin % is 6.33% as of Mar. 2026, which is 68% below its 10-year median of 19.60. GuruFocus rates NSE:MGL with a GF Score™ of 97/100 and a GF Value™ of ₹1,552.53 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 501 Utilities - Regulated companies, Mahanagar Gas ranks better than 55.89% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Mahanagar Gas's Net Income for the
three
months ended in Mar. 2026 was ₹1,299 Mil. Mahanagar Gas's Revenue for the
three
months ended in Mar. 2026 was ₹20,521 Mil. Therefore, Mahanagar Gas's net margin for the quarter that ended in Mar. 2026 was 6.33%.
The historical rank and industry rank for Mahanagar Gas's Net Margin % or its related term are showing as below:
NSE:MGL'
s Net Margin % Range Over the Past 10 Years
Min: 10.19 Med: 19.6 Max: 29.01
Current: 10.19
NSE:MGL's Net Margin % is ranked better than 55.89% of 501
companies
in the Utilities - Regulated industry
Industry Median: 8.8
vs NSE:MGL: 10.19
Mahanagar Gas (NSE:MGL) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Mahanagar Gas Net Margin % Related Terms
Mahanagar Gas Net Margin % Historical Data
* Premium members only.
The historical data trend for Mahanagar Gas's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, Mahanagar Gas's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mahanagar Gas Net Margin % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Mahanagar Gas's Net Margin % distribution charts can be found below:
* The bar in red indicates where Mahanagar Gas's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Mahanagar Gas (NSE:MGL) has a Net Margin % of 6.33% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Mahanagar Gas and its competitors. This is 68% below median its historical median of 19.60. Over the past decade, Mahanagar Gas' Net Margin % has ranged from 10.19 to 29.01. According to the industry distribution chart, Mahanagar Gas ranks #221 out of 501 companies in the Utilities - Regulated industry, placing it in the top 44.1%.
Is Mahanagar Gas' Net Margin % too high?
Mahanagar Gas' current Net Margin % of 6.33% is 68% below median its 10-year median of 19.60. Over the past 10 years, this metric has ranged from a low of 10.19 to a high of 29.01. The Utilities - Regulated industry median Net Margin % is 8.80. Mahanagar Gas' value of 6.33% is 28.1% below this industry median. Based on the distribution chart, Mahanagar Gas ranks #221 out of 501 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Mahanagar Gas has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mahanagar Gas' Net Margin % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Mahanagar Gas ranks #221 out of 501 companies for Net Margin %. This puts Mahanagar Gas in the upper half of its industry. The industry median Net Margin % is 8.80. Mahanagar Gas' value of 6.33% is 28.1% below this benchmark. Historically, Mahanagar Gas' own Net Margin % has ranged from 10.19 to 29.01 over the past decade. While the company's 10-year median is 19.60 vs. the industry median of 8.80, Mahanagar Gas has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Utilities - Regulated company?
The median Net Margin % among Utilities - Regulated companies is 8.80, based on 501 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mahanagar Gas's current Net Margin % of 6.33% is 28.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Mahanagar Gas and its competitors. For the Utilities - Regulated industry, the median Net Margin % is 8.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mahanagar Gas's current Net Margin % is 6.33%, which is 68% below median its own 10-year median of 19.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahanagar Gas stock overvalued right now?
Based on GuruFocus' analysis, Mahanagar Gas (NSE:MGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,552.53, compared to a current price of ₹1,174.60 — trading 24.3% below its estimated fair value. The current Net Margin % is 6.33%, which is 68% below median its 10-year median of 19.60 and 28.1% below the Utilities - Regulated industry median of 8.80. Mahanagar Gas' overall GF Score™ is 97/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Mahanagar Gas (NSE:MGL), the current Net Margin % is 6.33% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Mahanagar Gas (NSE:MGL) Overvalued in 2026?
Based on GuruFocus' analysis, Mahanagar Gas stock appears to be undervalued.
The current stock price of ₹1,174.60 is trading 24.3% below its estimated GF Value™ of ₹1,552.53.
GuruFocus considers Mahanagar Gas to be Modestly Undervalued.
Key valuation signals for NSE:MGL:
Net Margin %: 6.33% (68% below median its 10-year median of 19.60)
GF Value™: ₹1,552.53 vs. price of ₹1,174.60 (24.3% below fair value)
Industry Position: 28.1% below the Utilities - Regulated median (#221 of 501)
No single metric tells the full story. See the NSE:MGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
97GF Score
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