Mahanagar Gas - Risk-Reward Favourable, Upgrade to BUY
Mahanagar Gas (MGL) stock price has corrected ~12% from the highs of August 2023 owing to weaker-than-expected volume growth
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Mahanagar Gas (Q1FY24): Margins Offset Weak Volume Growth. Maintain ADD
Q1FY24 EBITDA, at INR 5.2bn, and APAT, at INR 3.7bn, came well above our estimates, owing to higher-than-expected per unit EBITDA margins
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HSIE Results Daily: Britannia Industries, Godrej Consumers, Balkrishna Industries
Britannia took price corrections to defend its market share as competitive intensity rose (particularly from local/regional brands)
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Mahanagar Gas (Q1FY24): Margins Offset Weak Volume Growth.
Q1FY24 EBITDA, at INR 5.2bn, and APAT, at INR 3.7bn, came well above our estimates, owing to higher-than-expected per unit EBITDA margins
286 Views
Mahanagar Gas (Results Review 4QFY23): Strong Margins Drive Earnings.
Our ADD recommendation on Mahanagar Gas (MGL) with a target price of INR 1,170 is premised on (1) lower volume growth compared to peers
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