Overview

Detailed Summary

Mahanagar Telephone Nigam Limited (MTNL) is a government-owned company providing telecom services in Mumbai and Delhi. It offers various services including telecommunication, internet, and wireless communication.
MTNL launched 4G services in these regions in 2023-24, indicating its efforts to modernize and stay competitive in telecom services.
Since 2021, MTNL has been collaborating with its parent company, BSNL, for infrastructure and network sharing, reflecting strategic consolidation within public sector telecom enterprises.
MTNL has historically been a pioneer in introducing advanced telecom services in India, such as ISDN, GSM, and broadband, showcasing its commitment to technological advancements.

Sector: Telecom-Service
Industry: Telecommunications - Service Provider
Market Cap: 1,957 Cr
Volatility: Moderate Risk
P/E Ratio: —
Industry P/E: 37.6
PEG Ratio: —
P/B Ratio: —
52W High: 58.00
52W Low: 28.54

Sales CAGR

1Y: -12.59%
3Y: -16.22%
5Y: -16.36%
10Y: -16.31%

Profit CAGR

1Y: -1.84%
3Y: —
5Y: —
10Y: —

ROE

TTM: 12.39%
3Y: 13.32%
5Y: 13.73%
10Y: 21.15%

ROCE

TTM: -11.49%
3Y: 64.16%
5Y: 277.15%
10Y: -42.35%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
HATHWAY	11.28	2,006 Cr	18.80	0.45	0.00	2.20	2.86	1.95
MTNL	31.02	1,957 Cr	—	0.00	0.00	12.39	-11.49	-38.00
NELCO	660.50	1,507 Cr	2871.74	11.73	0.15	3.34	9.18	-0.60
ONMOBILE	52.35	557 Cr	31.92	0.85	0.00	5.40	7.99	1.21
RCOM	1.03	285 Cr	—	0.00	0.00	0.22	0.33	-28.95
GTL	7.73	122 Cr	0.15	0.00	0.00	0.90	0.07	-10.22
STML	73.50	71 Cr	—	2.32	0.00	-2.50	-9.13	-5.56

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	198	192	209	184	174	170	170	66	190	198
Expenses	331	318	284	295	294	298	292	251	298	238
Operating Profit	-133	-126	-75	-111	-119	-128	-122	-186	-109	-41
OPM %	-67.09	-65.38	-35.84	-60.34	-68.47	-75.31	-71.84	-282.20	-57.20	-20.59
Other Income	175	144	144	199	153	170	161	142	31	35
Interest	665	691	689	705	769	728	716	754	742	749
Depreciation	170	166	164	157	155	150	151	145	142	142
Profit Before Tax	-793	-839	-784	-773	-890	-836	-829	-943	-960	-897
Tax %	0.00	0.00	0.02	0.00	0.00	0.00	0.07	0.00	0.00	0.00
Net Profit	-793	-839	-784	-773	-890	-836	-828	-943	-960	-897
EPS in Rs	-12.58	-13.32	-12.44	-12.28	-14.13	-13.27	-13.14	-14.97	0.00	-14.24

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,969	2,472	2,085	1,624	1,388	1,149	935	799	698	580
Expenses	4,033	3,629	3,402	3,082	1,332	1,468	1,381	1,286	1,178	1,135
Operating Profit	-1,064	-1,157	-1,317	-1,458	55	-319	-446	-488	-480	-555
OPM %	-35.83	-46.82	-63.16	-89.83	3.99	-27.73	-47.67	-61.09	-68.81	-95.69
Other Income	686	746	635	693	486	630	614	576	682	625
Interest	1,448	1,505	1,703	1,942	2,107	2,140	2,354	2,690	2,918	2,967
Depreciation	1,113	1,054	1,002	986	893	772	730	666	612	601
Profit Before Tax	-2,940	-2,970	-3,387	-3,693	-2,459	-2,600	-2,916	-3,268	-3,328	-3,498
Tax %	0.12	-0.03	-0.03	-0.03	-0.08	-0.11	0.02	0.01	0.02	0.02
Net Profit	-2,936	-2,971	-3,388	-3,694	-2,461	-2,603	-2,915	-3,268	-3,328	-3,497
EPS in Rs	—	—	-53.68	-58.63	-39.07	-41.31	-46.27	-51.86	-52.82	-42.35
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	-0.05	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	630	630	630	630	630	630	630	630	630	630
Reserves	-1,035	-4,004	-6,962	-10,358	-14,212	-16,675	-19,298	-21,485	-24,274	-27,549
Borrowings	12,487	14,922	16,675	19,097	22,176	25,600	26,820	28,351	30,141	32,441
Other Liabilities	6,591	6,146	5,948	5,335	8,094	3,820	4,165	4,148	4,220	4,704
Total Liabilities	18,672	17,693	16,291	14,705	16,688	13,375	12,317	11,644	10,717	10,226
Fixed Assets	9,575	8,706	8,128	7,431	6,849	6,209	5,550	4,899	4,265	3,743
CWIP	137	291	331	320	328	184	74	59	86	32
Investments	43	57	40	39	43	47	72	71	71	69
Other Assets	8,918	8,639	7,792	6,914	9,468	6,935	6,621	6,614	6,295	6,382
Total Assets	18,672	17,693	16,291	14,705	16,688	13,375	12,317	11,644	10,717	10,226

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1,078	-1,024	155	-733	-1,206	-225	704	64	130	340
Cash from Investing Activity	-37	-30	-492	-297	-43	-259	204	-174	107	-29
Cash from Financing Activity	-957	984	345	1,044	1,326	414	-936	177	-319	-215
Net Cash Flow	85	-71	7.27	14	77	-70	-28	67	-81	96

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	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	0.47%	0.39%	0.40%	0.47%	0.55%	0.38%	0.06%	0.09%	0.14%	0.27%	0.04%	0.05%
DIIs	13.89%	13.89%	13.88%	13.75%	13.63%	13.63%	13.47%	13.49%	13.46%	13.72%	13.46%	13.43%
Public	28.82%	28.90%	28.91%	29.54%	29.57%	29.73%	30.22%	30.17%	30.16%	29.75%	30.26%	30.27%
Total Shareholders	1,87,064	1,84,078	1,82,171	1,78,199	1,94,974	1,92,049	4,66,118	4,41,629	4,37,424	4,14,395	4,00,262	3,87,197

Market Transactions

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Projection

Documents

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Concalls

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Actions

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

5 days ago

MTNL fails to fund escrow for 6th semi‑annual interest on 7.80% Bond Series VIID (INE153A08139)

MTNL informs under Reg.30 that it could not fund the escrow for the 6th semi‑annual interest payment (7.80% Bond Series VIID INE153A08139) due 24‑Feb‑2026 due to insufficient funds; sovereign guarantee may be invoked.

Non-funding Notice

5 days ago

MTNL unable to fund 6th semi-annual interest for 7.80% Bond Series VIID

MTNL informed exchanges it could not fund the 6th semi‑annual interest due 24‑Feb‑2026 for the 7.80% Bond Series VIID (INE153A08139) into the Bank of India escrow account due to insufficient funds; bonds are sovereign guaranteed.

Bond Payment Default

5 days ago

MTNL fails to fund escrow for 5th semi‑annual interest on 7.61% Bond Series VIIIB

MTNL notified exchanges that it could not fund the escrow account for the 5th semi‑annual interest due 24‑Feb‑2026 on 7.61% Bond Series VIIIB (INE153A08162) due to insufficient funds; sovereign guarantee may be invoked.

Bond Payment Default

5 days ago

MTNL unable to fund 5th semi‑annual interest for Series VIIIB bond

MTNL informed exchanges it could not deposit the 5th semi‑annual interest due 24‑Feb‑2026 for the 7.61% Bond Series VIIIB (INE153A08162) into the Bank of India escrow account due to insufficient funds; bonds carry a sovereign guarantee.

Financial Results

6 days ago

MTNL files Q3 FY2025-26 unaudited financial results

MTNL submitted Integrated Filing (Financial) under SEBI LODR (Regs 33 & 52) on 12 Feb 2026: unaudited reviewed results and limited review report for the quarter ended 31 Dec 2025 (loss before tax ~₹898.38 crore).

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Frequently Asked Questions about Mahanagar Telephone Nigam Ltd

Mahanagar Telephone Nigam Ltd (MTNL) is currently trading at 30.69 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Mahanagar Telephone Nigam Limited (MTNL) is a government-owned company providing telecom services in Mumbai and Delhi. It offers various services including telecommunication, internet, and wireless communication. MTNL launched 4G services in these regions in 2023-24, indicating its efforts to modernize and stay competitive in telecom services. Since 2021, MTNL has been collaborating with its parent company, BSNL, for infrastructure and network sharing, reflecting strategic consolidation within public sector telecom enterprises. MTNL has historically been a pioneer in introducing advanced telecom services in India, such as ISDN, GSM, and broadband, showcasing its commitment to technological advancements.

Over the past 52 weeks, Mahanagar Telephone Nigam Ltd has traded between a low of ₹28.54 and a high of ₹58.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Mahanagar Telephone Nigam Ltd has a market capitalization of approximately 1,956.78. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Mahanagar Telephone Nigam Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of N/A and operates in the Telecom-Service sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 1,956.78 Cr, Mahanagar Telephone Nigam Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Mahanagar Telephone Nigam Ltd operates in the Telecom-Service sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Mahanagar Telephone Nigam Ltd is N/A. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

The budget impacts MTNL indirectly but significantly. It has reduced the capital infusion allocation for MTNL's parent company, BSNL, which handles all of MTNL's operations, thereby affecting its network upgrade and revival plans.

Mahanagar Telephone Nigam Ltd

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