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Mahanagar Telephone Nigam Ltd

₹ 33.6-0.21%
16 Jan 2:20 p.m. – close price
🔗mtnl.net.in•BSE: 500108•NSE: MTNL
Market Cap₹ 2,118 Cr.
Current Price₹ 33.6
High / Low₹ 58.2
Stock P/Enull
Book Value₹ -457
Dividend Yield0.00 %
ROCE-6.70 %
ROEnull %
Face Value₹ 10.0
Sales₹ 620 Cr.
OPM-73.0 %
Mar Cap₹ 2,118 Cr.

ABOUT

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

KEY POINTS

History of MTNL[1]MTNL was incorporated as a public sector undertaking in 1986 to serve cities of Delhi including NCR and Mumbai including Thane district in India. It started with an objective to provide world-class telecommunication services to its customers with affordable tariffs. The company got Navratana Status in 1997.

Also present in buckets:
Aggressive Growth TriggersJv Partnerships AcquisitionsRevenue Guidance Vs ActualsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Bharti Airtel2009.5037.591208561.180.808650.8065.1152145.4025.7313.48194613.5056.0132200.306791.709.695.351.77
2.Vodafone Idea10.84–117443.850.00-5524.2022.4911194.702.40-1.9344348.0042.10-25945.30-5561.80–-14.36–
3.Bharti Hexacom1610.0050.1680500.000.63421.2066.422317.3010.4717.449120.0051.411604.91421.2012.937.041.06
4.Tata Comm1753.6050.0749977.651.43183.21-18.246099.756.4914.7923848.0219.35998.02193.8717.505.224.68
5.Tata Tele. Mah.45.97–8986.780.00-320.822.90286.13-16.7050.321211.4248.68-1263.53-320.82–-98.17–
6.M T N L33.62–2118.060.00-959.08-7.95174.48-30.55-6.70620.35-73.04-3563.38-959.08–-31.84–
7.Reliance Communi1.05–290.360.00-2701.00-174.1987.00-1.14–344.00-24.71-213.61-85.00–-25.62–
–Median: 7 Co.45.9750.0749977.650.0-320.822.92317.32.414.139120.042.1-213.61-85.012.93-14.361.77

Quarterly Results

Standalone figures in ₹ crores

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
236220203202185182169193169251148152145174
Expenses
315333337328339316299304280278280274236283
Operating Profit
-79-113-134-126-154-134-130-112-111-27-131-122-91-109
Other Income
150137126199112174142145198601701584731
Profit before tax
-650-737-778-746-850-793-842-818-772-888-836-827-941-959
Tax %
0%0%0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit
-650-737-778-746-850-793-842-818-772-888-836-827-941-959
EPS in Rs
-10.31-11.70-12.35-11.84-13.49-12.58-13.36-12.98-12.25-14.10-13.27-13.13-14.94-15.22

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
3,3923,3983,1242,8702,3721,9881,5361,3041,070862728629620
Expenses
4,3054,1643,9413,9563,5433,3083,0071,2501,3871,3021,2521,1021,073
Operating Profit
-913-767-817-1,086-1,171-1,320-1,47154-317-441-524-473-453
Other Income
11,792444881677733616688475621610572678405
Interest
1,3911,4401,3511,4481,5051,7031,9422,1112,1472,3642,6942,9282,940
Depreciation
1,1661,1311,1521,0881,029984972880759717656600576
Profit before tax
8,322-2,893-2,440-2,945-2,973-3,390-3,696-2,462-2,603-2,911-3,302-3,324-3,563
Net Profit
7,825-2,893-1,948-2,941-2,973-3,390-3,696-2,462-2,603-2,911-3,302-3,324-3,563
EPS in Rs
124.21-45.93-30.91-46.68-47.19-53.81-58.66-39.08-41.31-46.20-52.42-52.75-56.56
Dividend Payout %
0%0%0%0%0%0%0%0%-0%0%0%0%–

Compounded Sales Growth

10 Years:-16%
5 Years:-16%
3 Years:-16%
TTM:-21%

Compounded Profit Growth

10 Years:-2%
5 Years:2%
3 Years:-10%
TTM:-7%

Stock Price CAGR

10 Years:6%
5 Years:19%
3 Years:10%
1 Year:-26%

Return on Equity

10 Years:%
5 Years:%
3 Years:%
Last Year:%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
630630630630630630630630630630630630630
Reserves
4,4111,437-1,026-3,997-6,967-10,365-14,216-16,670-19,286-21,473-24,293-27,566-29,442
Borrowings
14,21016,60413,44115,20117,01919,73723,29125,59926,81928,35030,14132,44134,064
Other Liabilities
8,2338,2265,6025,8445,5744,6916,9693,8164,1674,1554,2274,7054,258
Total Liabilities
27,48426,89818,64717,67916,25614,69316,67413,37512,32911,66210,70510,2119,510
Fixed Assets
11,22110,4329,4388,6328,0407,3616,7886,1675,5494,8974,2693,7363,391
Gross Block
26,70927,17227,21827,44627,83528,11228,45028,71128,84228,68528,57028,612–
Accumulated Depreciation
15,48816,74017,78018,81519,79520,75121,66322,54423,29423,78824,30124,876–
CWIP
3831341372913313203281847459863224
Investments
202182182142106106106106106106106106106
Other Assets
15,67816,1508,8908,6147,7796,9059,4526,9186,6016,6006,2446,3365,989
Total Assets
27,48426,89818,64717,67916,25614,69316,67413,37512,32911,66210,70510,2119,510

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
-4,249-1,1571,025-1,050118-738-1,225-23070755133322
Cash from Investing Activity
3,150-122-4-9-496-286-33-224202-164100-4
Cash from Financing Activity
1,2351,103-9369933451,0441,326414-936177-318-215
Net Cash Flow
136-17684-67-332068-39-2769-86103

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
3132576365111147214226244249316
Inventory Days
––––––––––––
Days Payable
––––––––––––
Cash Conversion Cycle
3132576365111147214226244249316
Working Capital Days
-766-855-931-727-629-1,083-2,030-1,285-2,707-2,915-2,195-4,550
ROCE %
-12%-8%-7%-12%-13%-16%-18%-4%-5%-7%-9%-7%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
56.82%56.82%56.82%56.82%56.25%56.25%56.25%56.25%56.25%56.25%56.25%56.25%56.25%
FIIs
0.38%0.47%0.39%0.40%0.47%0.55%0.38%0.06%0.09%0.14%0.54%0.04%0.05%
DIIs
13.89%13.89%13.89%13.88%13.75%13.63%13.63%13.47%13.49%13.46%13.46%13.46%13.43%
Public
28.91%28.81%28.90%28.90%29.54%29.56%29.73%30.22%30.16%30.15%29.76%30.25%30.27%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

MTNL Penalized ₹8 Lakhs by TRAI for Quality of Service Lapses

15th April 2026, 6:23 pm

MTNL Directors Complete Tenure; Two Independent Directors Cease Post April 15, 2026

15th April 2026, 4:43 pm

MTNL CMD Additional Charge Extended for Three Months

15th April 2026, 4:07 pm

MTNL Completes Funding for Bond Interest Payment Ahead of Schedule

9th April 2026, 5:45 pm

MTNL Confirms SEBI Compliance for Q4 FY26 via Registrar

6th April 2026, 4:41 pm

Published by Other Websites

External media mentions & references

MTNL Fails Sovereign Bond Interest Payment Due March 24

13th March 2026, 8:51 pm

Telecom Revenue Hits ₹1 Lakh Crore Amidst ARPU Pressure

3rd March 2026, 9:13 pm

Airtel Demands AGR Dues Parity, Awaits Telecom Department Decision

6th February 2026, 8:33 pm

Vi's AGR Reckoning: Committee Decision Looms Amidst Network Push

5th February 2026, 11:36 pm

VIL Debt Crisis: Dues Reassessment Sparks Sector Realignments

5th February 2026, 10:19 pm

News Articles

Editorial & research coverage

Airtel Demands AGR Dues Parity, Awaits Telecom Department Decision
Airtel Demands AGR Dues Parity, Awaits Telecom Department Decision

6th February 2026, 8:33 pm

Vi's AGR Reckoning: Committee Decision Looms Amidst Network Push
Vi's AGR Reckoning: Committee Decision Looms Amidst Network Push

5th February 2026, 11:36 pm

VIL Debt Crisis: Dues Reassessment Sparks Sector Realignments
VIL Debt Crisis: Dues Reassessment Sparks Sector Realignments

5th February 2026, 10:19 pm

Jio Tops Delhi Network Tests Amidst Telecom Rivalry
Jio Tops Delhi Network Tests Amidst Telecom Rivalry

24th January 2026, 1:01 pm

Indian Markets Slip Second Day; Infosys Misses Profit Despite Guidance
Indian Markets Slip Second Day; Infosys Misses Profit Despite Guidance

16th January 2026, 6:59 am

Documents

Announcements

Quarterly Disclosures By Listed Entities Of Defaults On Payment Of Interest/ Repayment Of Principal Amount On Loans From Banks / Financial Institutions And Unlisted Debt Securities
Disclosures By Listed Entities Of Defaults On Payment Of Interest/ Repayment Of Principal Amount For Loans Including Revolving Facilities Like Cash Credit From Banks / Financial Institutions

20h - MTNL defaulted on Rs 9,036 crore bank loans; NPA dates Aug 2024–Feb 2025; total debt Rs 35,851 crore.

SPECIAL WINDOW FOR RE-LODGEMENT OF TRANSFER REQUESTS OF PHYSICAL SHARES - REPORT RECEIVED FROM RTA

1d - RTA reports one transfer re-lodgement in Dec 2025; approved; 9 days average.

Announcement under Regulation 30 (LODR)-Change in Directorate

2d - Shivendu Gupta ceased; Sunil Kumar Ranjan appointed Government Nominee Director effective 13.01.2026 for three years.

COMPLIANCE WITH REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015 - NON-FUNDING OF 05TH SEMI ANNUAL INTEREST IN ESCROW ACCOUNT MAINTAINED IN BANK OF INDIA WRT MTNL BOND SERIES VIIIA (INE153A08154)

9 Jan - MTNL failed to fund escrow for 7.59% Bond Series VIIIA interest due 20 Jan 2026.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

16 Dec 2025 from care

Rating update

28 Nov 2025 from crisil

Rating update

9 Oct 2025 from brickwork

Rating update

1 Sep 2025 from crisil

Rating update

20 Aug 2025 from fitch

Rating update

3 Jun 2025 from crisil

Concalls

No concalls.

Stock Analysis

Description

Mahanagar Telephone Nigam Limited (MTNL) is a government-owned telecommunications company operating in Delhi and Mumbai, providing basic and mobile telephone services. Its operations in Delhi and Mumbai are managed by BSNL.

Key Growth Triggers

Currently no data available for Key Growth Triggers.

Order Book

Currently no data available for Order Book.

Key Red Flags

  • Persistent revenue decline and substantial net losses.
  • Eroded net worth and NPAs on bank loans.
  • History of defaults on various debt instruments and payment mechanism breaches.
  • Credit ratings on negative watch due to financial frailties.

Key Dates To Watch

Currently no data available for Key Dates To Watch.

Corporate Announcements

15th Apr 26
Impact Rating: 6
MTNL faces a ₹8.00 lakh penalty from TRAI for failing to meet Quality of Service benchmarks in the September 2025 quarter. The company must pay within 21 days to prevent interest accrual.
15th Apr 26
Impact Rating: 6
MTNL will see Shri Vishwas Pathak and Ms. Deepika Mahajan depart as Independent Directors on April 15, 2026, as their tenure concludes. The directors were re-appointed for one year on April 15, 2025.
15th Apr 26
Impact Rating: 5
MTNL announced an extension for Shri A. Robert J. Ravi's additional charge as CMD for three months, effective April 15, 2026, until July 14, 2026, or until a regular appointment.
9th Apr 26
Impact Rating: 6
MTNL has completed the escrow account funding for its 7.05% Bond Series V 11th semi-annual interest payment. The funding was done on April 8, 2026, ahead of the April 12, 2026 due date, ensuring timely disbursement.
6th Apr 26
Impact Rating: 2
Mahanagar Telephone Nigam Limited (MTNL) has forwarded a SEBI compliance certificate for the quarter ended March 31, 2026, from its RTA, Beetal Financial & Computer Services, to the BSE and NSE.