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MAHANAGAR GAS
PE (Price/Earnings) Ratio

The Current P/E Ratio of MAHANAGAR GAS is 10.62.

Share Price ₹1,053.7Feb 03,2026
Market Cap ₹10,410.6 Cr
Earnings-TTM₹980.7 CrTTM-Consolidated Results
Price/Earnings10.62xCalculated as Market Cap/Earnings
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Definition & Calculation of PE (Price/Earnings) ratio of MAHANAGAR GAS

Price-to-Earnings ratio, P/E Multiple, or P/E Ratio is an important valuation multiple that is defined as:

P/E = Market Capitalization / Net Income

or, using per-share numbers:

P/E = Stock Price / Earnings Per Share (EPS)

Applying the above formula, P/E ratio of MAHANAGAR GAS is calculated as :

Current Market Cap [ ₹10,410.6 Cr] as on Feb 03,2026

(/) Earnings [ ₹980.7 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 10.62x ]

P/E Ratio indicates the multiple of earnings investors are willing to pay to own one share of the company.

Thus, for MAHANAGAR GAS , the investors are currently willing to pay 10.62 times earnings to own 1 share of the company.

PE Multiples are the most widely used valuation multiple in practice.

Since P/E ratio uses Net Income in the calculation, P/E multiples are not always reliable for valuing companies with negative earnings.

In such cases, you may consider using Price to Book ratio or Price to Sales ratio of MAHANAGAR GAS !

P/E ratios, also, would not adjust for differences in the capital structure between companies.

The chart below summarizes the trend in P/E Ratio of MAHANAGAR GAS over the last five years.

Historical PE (Price/Earnings) ratio chart of MAHANAGAR GAS


PE Ratio Performance Analysis for MAHANAGAR GAS

- MAHANAGAR GAS 's latest p/e ratio is 10.62x.

- MAHANAGAR GAS 's p/e ratio for fiscal years ending Mar2025 to Mar2023 averaged 11.98x.

- MAHANAGAR GAS 's operated at median p/e ratio of 12.31x from fiscal years ending March 2018 to 2022.

- Looking back at the last 3 fiscal years, MAHANAGAR GAS 's p/e ratio peaked in Mar2025 at 13.16x.

- MAHANAGAR GAS 's p/e ratio hit its five-year low in Mar2024 of 10.48x.


How does MAHANAGAR GAS 's P/E Ratio benchmark against top 10 peers in Gas Transmission/Marketing Industry?

Peer Comparison (Gas Transmission/Marketing Industry)Earnings-TTM (Cr)PE RatioMarket Cap
MAHANAGAR GAS 980.7310.6210,410.6
ADANI TOTAL GAS LTD626.0195.2759,642.7
GUJARAT GAS LTD1,158.7024.9728,929.6
INDRAPRASTHA GAS LTD1,243.9619.4724,220.0
GUJARAT STATE PETRONET LTD1,609.2310.5516,982.8
CONFIDENCE FUTURISTIC ENERGETECH LTD7.6211.3186.1

Gas Transmission/Marketing Industry Benchmark (Top 10) PE Analysis vs MAHANAGAR GAS 's P/E Ratio

Top 10 Industry PeersPE Ratio
Min industry PE 10.55x
Max industry PE 95.27x
Median industry PE 19.47x
Average industry PE 28.70x



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