Indraprastha Gas vs Mahanagar Gas: share price, P/E, ROE and financials compared
Indraprastha Gas
Mahanagar Gas
Indraprastha Gas and Mahanagar Gas at a glance
Indraprastha Gas and Mahanagar Gas are both listed in Oil Gas & Consumable Fuels. Indraprastha Gas is the larger by market cap, at ₹19,876 Cr against ₹11,158 Cr for Mahanagar Gas (1.8 times as large). On valuation, Mahanagar Gas has the lower P/E (16.9× against 19.9×) and the lower price-to-book (1.74× against 1.99×). On returns and margins, Mahanagar Gas has the higher ROE (13.7% against 8.7%) and the higher operating margin (14.0% against 6.4%). Over three years, Mahanagar Gas has faster 3-year sales growth (+9.3% against +4.6% a year) and faster 3-year profit growth (+2.1% against −1.9% a year). Neither carries much debt for its equity: debt-to-equity is 0.01× for Indraprastha Gas and 0.03× for Mahanagar Gas.
Key metrics, side by side
| Metric | Indraprastha GasIGL | Mahanagar GasMGL |
|---|---|---|
| Price (₹) | 141.97 | 1,129.60 |
| Market cap (₹ Cr) | 19,876 | 11,158 |
| P/E | 19.9× | 16.9× (the lower figure, shaded) |
| P/B | 1.99× | 1.74× (the lower figure, shaded) |
| Dividend yield, trailing | 3.35% (the higher figure, shaded) | 2.66% |
| ROE | 8.7% | 13.7% (the higher figure, shaded) |
| ROCE | 16.3% | 16.5% |
| Operating margin (OPM) | 6.4% | 14.0% (the higher figure, shaded) |
| Net margin (NPM) | 5.6% | 8.4% (the higher figure, shaded) |
| Sales CAGR 3Y | +4.6% | +9.3% (the higher figure, shaded) |
| Profit CAGR 3Y | −1.9% | +2.1% (the higher figure, shaded) |
| Debt to equity | 0.01× | 0.03× |
| Interest cover | 290.8× (the higher figure, shaded) | 55.1× |
| Net profit TTM (₹ Cr) | 1,001 | 660 |
| 1Y return | −34.5% | −12.5% (the higher figure, shaded) |
| Promoter holding | – | – |
Indraprastha Gas vs Mahanagar Gas: common questions
Which is bigger, Indraprastha Gas or Mahanagar Gas?
By market cap, Indraprastha Gas is bigger at ₹19,876 Cr, against ₹11,158 Cr for Mahanagar Gas (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹1,001 Cr for Indraprastha Gas and ₹660 Cr for Mahanagar Gas.
Which has a lower P/E ratio, Indraprastha Gas or Mahanagar Gas?
Indraprastha Gas trades at a P/E of 19.9× and Mahanagar Gas at 16.9×. Mahanagar Gas has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Indraprastha Gas or Mahanagar Gas?
Indraprastha Gas reports a return on equity of 8.7% and Mahanagar Gas 13.7%. Mahanagar Gas has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Indraprastha Gas or Mahanagar Gas?
Over the last three years: Sales grew +4.6% a year at Indraprastha Gas and +9.3% at Mahanagar Gas, so Mahanagar Gas grew sales faster; profit grew −1.9% a year at Indraprastha Gas and +2.1% at Mahanagar Gas, so Mahanagar Gas grew profit faster. Past growth doesn’t predict future growth.