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Swing Capital

Mahanagar Telephone Nigam Ltd

NSE: MTNL BSE: 500108Telecom

Mahanagar Telephone Nigam is engaged in providing telecom services.(Source : 201903 Annual Report Page No:120)

₹28.5
52W: ₹20.3 — ₹58.2
PE 0 · Book ₹457 · -94% vs book
Market Cap₹1,794 Cr
Stock P/E—Price to Earnings
ROCE6.7%Return on Capital
ROE0%Return on Equity
Div. Yield0%Face Value ₹10

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -16.4% over past five years.
  • −Contingent liabilities of Rs.15,368 Cr.
  • −Company has high debtors of 316 days.

Shareholding Pattern

Promoters56.25%
FIIs0.5%
DIIs13.43%
Public29.82%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters56.25%56.25%56.25%56.25%56.25%56.25%56.25%56.25%
FIIs0.38%0.06%▼0.30.09%▲0.00.14%▲0.10.54%▲0.40.04%▼0.50.05%▲0.00.5%▲0.5
DIIs13.63%13.47%▼0.213.49%▲0.013.46%▼0.013.46%13.46%13.43%▼0.013.43%
Public29.73%30.22%▲0.530.16%▼0.130.15%▼0.029.76%▼0.430.25%▲0.530.27%▲0.029.82%▼0.4

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales182169193169251239152145174178
Expenses316299304280278280274236283222
Operating Profit-134-130-112-111-27-40-122-91-109-44
OPM %-74%-77%-58%-65%-11%-17%-80%-63%-62%-24%
Net Profit-793-842-818-772-888-836-827-941-959-898
EPS ₹-12.58-13.36-12.98-12.25-14.1-13.27-13.13-14.94-15.22-14.26

AI Insights

Revenue Trend

TTM revenue at ₹650Cr, up 3.3% YoY. OPM at -56%.

Debt Position

Borrowings at ₹34,064Cr. Debt-to-equity ratio: N/Ax. High leverage — monitor closely.

Capex Cycle

CWIP at ₹24Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 13.43% (-0.46pp change). FIIs: 0.5% (+0.11pp change). Promoters hold 56.25%.

Margin & Efficiency

ROCE improving from -12% (Mar 2014) to -7% (Mar 2025). Working capital days: -4550.

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