Mahanagar Telephone Nigam Ltd.

BSE: MTNL500108ISIN INE153A01019

Telecommunication
Telecom - Cellular & Fixed line services
BSE 1000

Share price

₹24.33+0.66 (+2.79%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹42.76
52W low: ₹20.30
Off 52W high: -43.10%
1M return: +4.83%
3M return: -12.04%
6M return: -23.63%
1Y return: -41.91%
20D avg volume: 2,50,557
50 DMA: ₹24.27
200 DMA: ₹28.03

Key ratios Consolidated

Market cap: ₹1,533 Cr
Current price: ₹24.33
52W high / low: ₹42.76 / ₹20.30
Face value: ₹10.00
P/E: -0.51
P/B: —
EPS (TTM): ₹-47.72
Book value / share: —
ROE: —
ROCE: 2.10%
Operating margin: —
Net margin: —
Debt / equity: -1.18
Net debt: ₹35,288 Cr
Interest cover: -0.04
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: -265.7 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	216.89	370.51	197.52	189.76	65.74	169.87	170.07	174.22	183.85	209.02	192.24	197.83
	75.15	511.13	33.64	31.41	141.39	160.39	169.33	152.29	198.50	144.52	142.86	174.08
	292.04	881.64	231.16	221.17	207.13	330.26	339.40	326.51	382.35	353.54	335.10	371.91
	1,135	1,188	1,129	1,182	1,151	1,159	1,176	1,218	1,156	1,137	1,175	1,166
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	0.78	0.96	1.52	0.50	0.45	1.11	2.42	0.55	0.55	1.40	1.99	0.50
	137.47	155.07	121.01	113.04	133.80	149.04	132.78	145.96	147.42	121.89	153.76	148.09
	747.54	738.12	748.68	741.92	754.36	715.78	727.70	769.48	705.20	688.96	690.57	665.12
	137.28	139.48	142.14	141.71	145.17	151.22	149.87	154.56	156.50	164.32	166.30	170.09
	111.63	154.38	115.66	184.66	117.01	141.75	132.66	115.31	117.05	117.22	128.42	147.83
	-842.66	-306.37	-897.85	-960.66	-943.66	-828.64	-836.32	-891.05	-774.12	-783.67	-839.69	-793.85
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	-842.66	-306.37	-897.85	-960.66	-943.66	-828.64	-836.32	-891.05	-774.12	-783.67	-839.69	-793.85
	0.00	0.13	0.00	0.00	0.00	-0.62	0.00	0.00	0.00	0.19	0.00	0.00
	-842.35	-306.95	-896.94	-960.21	-943.15	-827.88	-836.07	-890.28	-773.46	-783.74	-839.03	-792.82
	-13.37	-4.87	-14.24	-15.24	-14.97	-13.14	-13.27	-14.13	-12.28	-12.44	-13.32	-12.58
Key metrics
	42.16	571.23	-7.03	-77.03	-44.13	38.36	41.25	32.99	87.58	69.61	17.18	41.36
	19.40%	154.20%	-3.60%	-40.60%	-67.10%	22.60%	24.30%	18.90%	47.60%	33.30%	8.90%	20.90%
	-388.40%	-82.80%	-454.10%	-506.00%	-1,434.70%	-487.40%	-491.60%	-511.00%	-420.70%	-375.00%	-436.40%	-400.80%
	—	-7.20%	—	4.40%	—	4.10%	—	—	—	—	—	—
	229.90%	118.10%	16.10%	8.90%	-64.20%	-18.70%	-11.50%	-11.90%	—	—	—	—
	10.70%	62.90%	-7.30%	-7.90%	-21.90%	-5.60%	0.40%	-12.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	974.68	956.37	698.02	798.56	935.23	1,149
	651.33	584.72	680.50	574.53	613.09	628.88
	1,626	1,541	1,379	1,373	1,548	1,778
	4,634	4,650	4,709	4,643	4,465	4,379
	0.00	0.00	0.00	—	—	—
	3.76	3.44	4.63	4.61	6.47	—
	526.59	522.93	575.21	574.07	549.39	558.64
	2,976	2,983	2,918	2,690	2,354	2,140
	560.61	568.49	612.15	666.35	729.74	772.02
	566.33	571.70	598.51	563.43	662.77	—
	-3,008	-3,109	-3,330	-3,270	-2,917	-2,601
	0.00	0.00	0.00	0.00	0.00	0.00
	-3,008	-3,109	-3,330	-3,270	-2,917	-2,601
	0.13	0.13	0.62	0.19	0.50	2.91
	-3,006	-3,107	-3,328	-3,268	-2,915	-2,603
	-47.72	-49.32	-52.82	-51.87	-46.27	-41.32
Key metrics
	529.33	443.02	200.17	86.72	167.27	310.28
	54.31%	46.30%	28.70%	10.90%	17.90%	27.00%
	-308.46%	-324.90%	-476.70%	-409.20%	-311.70%	-226.50%
	—	2.10%	14.90%	—	—	—
	68.08%	37.00%	-12.60%	-14.60%	-18.60%	—
	—	6.60%	-1.80%	-12.10%	-12.00%	—
	—	151.54	304.07	—	—	—
	—	-0.06	-0.10	—	—	—
	—	-1.18	-1.20	—	—	—
	—	35,288	32,188	—	—	—
	—	-265.7	-227.2	—	—	—
Balance sheet
	—	10,076	10,226	—	—	—
	—	5,585	5,343	—	—	—
	—	137.40	180.76	—	—	—
	—	329.88	559.79	—	—	—
	—	6.59	5.94	—	—	—
	—	169.93	257.72	—	—	—
	—	2,150	2,360	—	—	—
	—	1,033	1,000	—	—	—
	—	16,069	12,994	—	—	—
	—	35,425	32,368	—	—	—
	—	12,244	8,886	—	—	—
	—	23,181	23,482	—	—	—
	—	-29,960	-26,919	—	—	—
Cash flow
	—	176.44	339.84	—	—	—
	—	-200.51	-28.70	—	—	—
	—	-19.29	-215.45	—	—	—
	—	24.90	35.77	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	200.08	350.05	178.24	174.48	51.66	152.50	148.25	158.80	169.40	192.66	169.25	181.98
	74.53	510.45	33.15	30.66	140.12	158.22	169.81	152.12	197.92	144.73	142.16	173.82
	274.61	860.50	211.39	205.14	191.78	310.72	318.06	310.92	367.32	337.39	311.42	355.80
	1,116	1,165	1,110	1,164	1,133	1,138	1,154	1,199	1,139	1,155	1,153	1,148
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	0.00	—	0.02	—	—
	136.57	154.17	119.77	112.01	132.67	147.81	131.31	144.78	146.38	120.92	152.45	147.22
	747.51	738.08	748.65	741.88	754.33	715.74	727.67	769.45	705.16	688.93	690.53	665.09
	134.89	136.38	139.29	138.89	142.36	147.94	146.80	151.68	153.90	161.72	163.49	167.51
	96.71	136.33	102.06	171.43	103.45	126.45	123.34	107.69	109.43	145.05	118.97	140.39
	-841.07	-304.46	-898.38	-959.07	-941.03	-827.22	-836.05	-888.41	-771.82	-817.59	-841.79	-7.93
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	-841.07	-304.46	-898.38	-959.07	-941.03	-827.22	-836.05	-888.41	-771.82	-817.59	-841.79	-792.67
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	-841.07	-304.46	-898.38	-959.07	-941.03	-827.22	-836.05	-888.41	-771.82	-817.59	-841.79	-792.67
	-13.35	-4.83	-14.26	-15.22	-14.94	-13.13	-13.27	-14.10	-12.25	-12.98	-13.36	-12.58
Key metrics
	41.33	570.00	-10.44	-78.30	-44.34	36.46	38.42	32.72	87.24	33.06	12.23	39.93
	20.70%	162.80%	-5.90%	-44.90%	-85.80%	23.90%	25.90%	20.60%	51.50%	17.20%	7.20%	21.90%
	-420.40%	-87.00%	-504.00%	-549.70%	-1,821.60%	-542.40%	-563.90%	-559.50%	-455.60%	-424.40%	-497.40%	-435.60%
	—	-7.20%	—	4.30%	—	4.00%	—	—	—	—	—	—
	287.30%	129.50%	20.20%	9.90%	-69.50%	-20.80%	-12.40%	-12.70%	—	—	—	—
	10.60%	63.20%	-7.50%	-8.00%	-21.90%	-1.20%	0.70%	-12.10%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	902.85	887.27	628.95	728.47	861.58	1,070
	648.79	581.54	678.07	573.01	612.45	627.18
	1,552	1,469	1,307	1,301	1,474	1,697
	4,555	4,572	4,631	4,604	4,385	4,299
	0.00	0.00	0.00	—	—	—
	0.00	0.00	0.00	0.04	0.26	—
	522.52	518.62	570.29	570.06	545.23	555.02
	2,976	2,983	2,918	2,690	2,354	2,139
	549.45	556.92	600.32	655.77	716.52	759.01
	506.53	513.26	541.89	566.64	630.66	—
	-3,003	-3,103	-3,324	-3,302	-2,911	-2,603
	0.00	0.00	0.00	—	—	—
	-3,003	-3,103	-3,324	-3,302	-2,911	-2,603
	0.00	0.00	0.00	—	—	—
	-3,003	-3,103	-3,324	-3,302	-2,911	-2,603
	-47.66	-49.25	-52.75	-52.42	-46.20	-41.31
Key metrics
	522.59	436.93	194.84	43.36	160.04	295.87
	57.88%	49.20%	31.00%	6.00%	18.60%	27.70%
	-332.61%	-349.70%	-528.40%	-453.30%	-337.80%	-243.30%
	—	2.00%	14.50%	—	—	—
	76.61%	41.10%	-13.70%	-15.40%	-19.50%	—
	—	6.60%	-0.60%	-13.40%	-11.80%	—
	—	156.17	306.30	—	—	—
	—	-0.06	-0.10	—	—	—
	—	-1.18	-1.20	—	—	—
	—	35,305	32,205	—	—	—
	—	-292.7	-256.9	—	—	—
Balance sheet
	—	10,034	10,184	—	—	—
	—	5,507	5,270	—	—	—
	—	120.67	163.57	—	—	—
	—	305.85	544.77	—	—	—
	—	5.15	4.95	—	—	—
	—	160.73	248.46	—	—	—
	—	2,090	2,293	—	—	—
	—	1,022	992.38	—	—	—
	—	16,047	12,974	—	—	—
	—	35,425	32,368	—	—	—
	—	12,244	8,886	—	—	—
	—	23,181	23,482	—	—	—
	—	-29,975	-26,936	—	—	—
Cash flow
	—	176.17	322.18	—	—	—
	—	-200.10	-4.38	—	—	—
	—	-18.98	-215.08	—	—	—
	—	20.00	15.88	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +0.98%
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +76.61%
Profit YoY (TTM): +14.02%

Consolidated

Sales CAGR 3Y: +0.75%
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +68.08%
Profit YoY (TTM): +14.04%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 56.25%

Quarter	September 2026	June 2026
Promoter %	56.25%	56.25%

Holder	Type	Holding	Previous	Change
PRESIDENT OF INDIA	Promoter	56.25%	56.25%	0.00%
LIFE INSURANCE CORPORATION OF INDIA	Public	13.12%	13.12%	0.00%
Other Institutions Foreign	Public	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Jio Platforms Limited	13,09,754	1,422.25	—	9.13% Q1 FY27	+14.56% FY26	+15.05% FY26	—
Bharti Airtel Ltd.	12,89,288	2,066.00	35.41	17.60%	+19.63% TTM	-9.39% TTM	-2.22%
VODAFONE IDEA LIMITED	1,35,645	12.52	3.63	36.90%	+3.30% TTM	+235.73% TTM	+32.91%
Bharti Hexacom Limited S	86,225	1,724.50	47.27	21.80%	+7.87% TTM	+32.75% TTM	-7.98%
Tata Communications Limited	50,050	1,755.60	45.97	15.30%	+9.08% TTM	-34.01% TTM	-7.78%
Tata Teleservices (Maharashtra) Ltd. S	6,874	35.16	22.98	-6.80%	-0.85% TTM	+123.60% TTM	-36.66%
Mahanagar Telephone Nigam Ltd.	1,533	24.33	-0.51	2.10%	+68.08% TTM	+14.04% TTM	-41.91%
Reliance Communications Limited	224	0.81	-0.02	0.50%	-11.59% TTM	+3.62% TTM	-36.22%
Quadrant Televentures Limited S	35	0.57	-5.70	-0.60%	-9.69% TTM	+97.60% TTM	+50.00%
City Online Services Limited S	4	8.55	-7.07	64.90%	+6.43% TTM	-887.50% TTM	+37.46%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

LETTER ATTACHED4 Nov 2026 · Company Update / General
LETTER ATTACHED4 Nov 2026 · Company Update / General
The Exchange has sought clarification from Mahanagar Telephone Nigam Ltd on November 4, 2026, with reference to Movement in Volume.<BR><BR>The reply is awaited.4 Nov 2026 · Company Update / Clarification
LETTER ATTACHED2 Nov 2026 · Company Update / General
LETTER ATTACHED23 Oct 2026 · Company Update / General
The Exchange has sought clarification from Mahanagar Telephone Nigam Ltd on October 23, 2026, with reference to Movement in Volume. <BR><BR>The reply is awaited.23 Oct 2026 · Company Update / Clarification
Mahanagar Telephone Nigam Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/11/2026 ,inter alia, to consider and approve LETTER ATTACHED21 Oct 2026 · Board Meeting / Board Meeting
LETTER ATTACHED15 Oct 2026 · Company Update / General
LETTER ATTACHED14 Oct 2026 · Company Update / General
LETTER ATTACHED12 Oct 2026 · AGM/EGM / AGM
Quarterly Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount on loans from banks / financial institutions and unlisted debt securities9 Oct 2026 · Others / 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 ....9 Oct 2026 · Others / 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.
REVISED LETTER ATTACHED8 Oct 2026 · Company Update / Credit Rating
LETTER ATTACHED8 Oct 2026 · Company Update / Credit Rating
LETTER ATTACHED7 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
LETTER ATTACHED1 Oct 2026 · AGM/EGM / AGM
LETTER ATTACHED1 Oct 2026 · Company Update / General
LETTER ATTACHED30 Sep 2026 · Company Update / General
LETTER ATTACHED30 Sep 2026 · AGM/EGM / AGM
LETTER ATTACHED25 Sep 2026 · Company Update / General
LETTER ATTACHED21 Sep 2026 · Company Update / General
LETTER ATTACHED16 Sep 2026 · Company Update / General
LETTER ATTACHED15 Sep 2026 · Company Update / Change in Management
Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for loans including revolving facilities like cash credit from banks ....14 Sep 2026 · Others / 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.
LETTER ATTACHED14 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
LETTER ATTACHED9 Sep 2026 · Company Update / Appointment of Statutory Auditor/s
LETTER ATTACHED9 Sep 2026 · Company Update / Newspaper Publication
LETTER ATTACHED5 Sep 2026 · Company Update / General
LETTER ATTACHED5 Sep 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
ANNUAL REPORT OF MTNL FOR FY 2025-20265 Sep 2026 · Others / Reg. 34 (1) Annual Report
LETTER ATTACHED5 Sep 2026 · AGM/EGM / AGM
LETTER ATTACHED27 Aug 2026 · Company Update / Credit Rating
LETTER ATTACHED27 Aug 2026 · Company Update / General
LETTER ATTACHED26 Aug 2026 · Company Update / General
LETTER ATTACHED19 Aug 2026 · Company Update / Credit Rating
LETTER ATTACHED18 Aug 2026 · Company Update / General
LETTER ATTACHED14 Aug 2026 · Company Update / Newspaper Publication
LETTER ATTACHED13 Aug 2026 · Company Update / General
LETTER ATTACHED13 Aug 2026 · Company Update / General
LETTER ATTACHED12 Aug 2026 · Board Meeting / Outcome of Board Meeting

Board meetings

13 Nov 2026 Board Meeting - Financial Results
12 Aug 2026 Board Meeting - Financial Results