Mahanagar GasNSE:MGL -1.79%97 Pretax Margin % is 8.59% as of Mar. 2026, which is 70% below its 10-year median of 28.66. GuruFocus rates NSE:MGL with a GF Score™ of 97/100 and a GF Value™ of ₹1,552.96 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 503 Utilities - Regulated companies, Mahanagar Gas ranks better than 57.65% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Mahanagar Gas's Pre-Tax Income for the
three
months ended in Mar. 2026 was ₹1,763 Mil. Mahanagar Gas's Revenue for the
three
months ended in Mar. 2026 was ₹20,521 Mil. Therefore, Mahanagar Gas's pretax margin for the quarter that ended in Mar. 2026 was 8.59%.
The historical rank and industry rank for Mahanagar Gas's Pretax Margin % or its related term are showing as below:
NSE:MGL'
s Pretax Margin % Range Over the Past 10 Years
Min: 13.76 Med: 28.66 Max: 39.03
Current: 13.76
NSE:MGL's Pretax Margin % is ranked better than 57.65% of 503
companies
in the Utilities - Regulated industry
Industry Median: 12.07
vs NSE:MGL: 13.76
Mahanagar Gas (NSE:MGL) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Mahanagar Gas Pretax Margin % Related Terms
Mahanagar Gas Pretax Margin % Historical Data
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The historical data trend for Mahanagar Gas's Pretax 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.
NSE:MGL vs ATO, NI, UGI: Pretax Margin % Comparison
For the Utilities - Regulated Gas subindustry, Mahanagar Gas's Pretax Margin %, along with its competitors' market caps and Pretax 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 Pretax Margin % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Mahanagar Gas's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Mahanagar Gas's Pretax 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 Pretax Margin % of 8.59% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Mahanagar Gas and its competitors. This is 70% below median its historical median of 28.66. Over the past decade, Mahanagar Gas' Pretax Margin % has ranged from 13.76 to 39.03. According to the industry distribution chart, Mahanagar Gas ranks #213 out of 503 companies in the Utilities - Regulated industry, placing it in the top 42.3%.
Is Mahanagar Gas' Pretax Margin % too high?
Mahanagar Gas' current Pretax Margin % of 8.59% is 70% below median its 10-year median of 28.66. Over the past 10 years, this metric has ranged from a low of 13.76 to a high of 39.03. The Utilities - Regulated industry median Pretax Margin % is 12.07. Mahanagar Gas' value of 8.59% is 28.8% below this industry median. Based on the distribution chart, Mahanagar Gas ranks #213 out of 503 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' Pretax Margin % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Mahanagar Gas ranks #213 out of 503 companies for Pretax Margin %. This puts Mahanagar Gas in the upper half of its industry. The industry median Pretax Margin % is 12.07. Mahanagar Gas' value of 8.59% is 28.8% below this benchmark. Historically, Mahanagar Gas' own Pretax Margin % has ranged from 13.76 to 39.03 over the past decade. While the company's 10-year median is 28.66 vs. the industry median of 12.07, 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 Pretax Margin % for an Utilities - Regulated company?
The median Pretax Margin % among Utilities - Regulated companies is 12.07, based on 503 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mahanagar Gas's current Pretax Margin % of 8.59% is 28.8% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Mahanagar Gas and its competitors. For the Utilities - Regulated industry, the median Pretax Margin % is 12.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mahanagar Gas's current Pretax Margin % is 8.59%, which is 70% below median its own 10-year median of 28.66. 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 ₹1,552.96, compared to a current price of ₹1,174.60 — trading 24.4% below its estimated fair value. The current Pretax Margin % is 8.59%, which is 70% below median its 10-year median of 28.66 and 28.8% below the Utilities - Regulated industry median of 12.07. 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Mahanagar Gas (NSE:MGL), the current Pretax Margin % is 8.59% 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 24.4% below its estimated GF Value™ of ₹1,552.96.
GuruFocus considers Mahanagar Gas to be Modestly Undervalued.
Key valuation signals for NSE:MGL:
Pretax Margin %: 8.59% (70% below median its 10-year median of 28.66)
GF Value™: ₹1,552.96 vs. price of ₹1,174.60 (24.4% below fair value)
Industry Position: 28.8% below the Utilities - Regulated median (#213 of 503)
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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