Mahanagar Gas Ltd.

Financial

	Mahanagar Gas	Indraprastha Gas	Gujarat Gas
Operational Metrics
CNG
Daily Sales Volume - CNG	2.98 mmscmd	6.85 mmscmd	3.12 mmscmd
Natural Gas
Realization / SCM - Natural Gas	46.27 Rs/SCM	44.65 Rs/SCM	50.84 Rs/SCM
Realization / SCM - CNG	45.57 Rs/SCM	44.31 Rs/SCM	n/a
Realization / SCM - PNG	47.58 Rs/SCM	45.63 Rs/SCM	n/a
Daily Sales Volume - Natural Gas	4.12 mmscmd	9.11 mmscmd	9.47 mmscmd
Piped Natural Gas
Daily Sales Volume - PNG	1.22 mmscmd	2.46 mmscmd	6.35 mmscmd
Financials
5 yr Average ROE	20.19 %	20.58 %	24.79 %
5yr average Equity Multiplier	1.45	1.47	1.81
5yr Average Asset Turnover Ratio	0.86	0.84	1.41
5yr Avg Net Profit Margin	16.53 %	17.65 %	9.75 %
Price to Book	2.48	2.69	3.52
P/E	13.11	16.73	22.08
5yr Avg Cash Conversion Cycle	-15.95 Days	-11.24 Days	2.64 Days
Inventory Days	2.04 Days	2.02 Days	1.5 Days
Days Receivable	15.59 Days	22.69 Days	22.97 Days
Days Payable	32.74 Days	38.96 Days	18.12 Days
5yr Average Interest Coverage Ratio	117.31	79.29	20.72
5yr Avg ROCE	25.06 %	22.18 %	24.21 %
5yr Avg Operating Profit Margin	24.68 %	21.97 %	15.32 %
5 yr average Debt to Equity	0.0	0.0	0.18
5yr CAGR Net Profit	16.41 %	9.71 %	-0.94 %
5yr Average Return on Assets	13.93 %	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)	4.82 %	4.15 %	-0.92 %

Business

	Mahanagar Gas	Indraprastha Gas	Gujarat Gas
Product Wise Break-Up	Product Wise Break-Up CNG 69.85 PNG 29.91 Piped Natural Gas (PNG) 0 Compressed Natural Gas (CNG) 0 Commercial PNG 0 Domestic PNG 0 Industrial PNG 0 City Gas 0 Others 0.24	Product Wise Break-Up Domestic PNG 0 Industrial PNG 0 Compressed Natural Gas (CNG) 72.68 CNG 0 Piped Natural Gas (PNG) 26.88 City Gas 0 PNG 0 Commercial PNG 0 Others 0.44	Product Wise Break-Up Domestic PNG 8.1 Industrial PNG 68.4 Compressed Natural Gas (CNG) 0 CNG 21.8 Piped Natural Gas (PNG) 0 City Gas 0 PNG 0 Commercial PNG 1.7
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 70.92 Industrial PNG 15.69 Domestic PNG 13.39 Commercial PNG 0 Retail 0 Industrial & Commercial 0	-	Customer Segment Domestic PNG 0 Industrial PNG 0 Retail 29.9 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