Mahanagar Telephone Nigam Limited (MTNL) Fair Value & Analysis
Communication Services · IN · Market cap ₹19.0B
Fair value as of: Aug 13, 2026
From 2 valuation models · updated 4 days ago
Share price −3.6% over the past month.
A solid business, but screening 68% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹9.63). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ₹16.00 – ₹97.08 · fair‑value band ₹8.01 – ₹9.63 · the ₹27.08 price screens above the ₹8.66 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Mahanagar Telephone Nigam Limited (MTNL) currently trades at ₹27.08, while our model-based Fair Value estimate is ₹8.66, implying the stock looks roughly 68.0% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Trailing-twelve-month revenue stands at ₹9.6B. Revenue grew 87.9% year over year. Net debt stands at ₹353B. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹8.01 (bear case) to ₹9.63 (bull case); at ₹27.08, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 49% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 30% fair-value upside, at -68%, MTNL screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 2 models by family
Notify me when MTNL reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 32
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Mahanagar Telephone Nigam Limited, together with its subsidiaries, provides telecommunication services in India. The company operates through two segments, Basic and Other Services, and Cellular Services. It offers mobile, voice, roaming, and internet services; and international long distance services.
Full company description
Mahanagar Telephone Nigam Limited, together with its subsidiaries, provides telecommunication services in India. The company operates through two segments, Basic and Other Services, and Cellular Services. It offers mobile, voice, roaming, and internet services; and international long distance services. The company also provides remote monitoring; capacity building and skill development programme; ICT Solution with operation and maintenance services; launch, operate, provide, and maintains cloud and managed services; surveillance and perimeter security services, including emergency communication; wi-fi, surveillance projects, infrastructure sharing, web hosting, and cloud computing services. In addition, it is involved in the provision of cloud services; and information technology/data activities. Mahanagar Telephone Nigam Limited was incorporated in 1986 and is based in New Delhi, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Mahanagar Telephone Nigam Limited reported revenue of ₹9.6B in FY2026 versus ₹11.5B in FY2022, a compound −4.5%/yr. Reported net income was −₹31.1B in FY2026.
MTNL screens 68% overvalued. Compare with China Mobile Limited →
Peer Group
Telecom Services · 253 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Telecom Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Mobile Limited 600941 | ¥96.11 | ¥109.88 | +14% |
| Bharti Airtel Limited BHARTIARTL | ₹1,945 | ₹941.55 | -52% |
| China Telecom Corporation 601728 | ¥6.43 | ¥8.36 | +30% |
| América Móvil, S.A. AMXB | 23.07 MXN | 30.35 MXN | +32% |
| Vodafone Group VODN | 259.50 MXN | 494.99 MXN | +91% |
| Advanced Info Service Public Company ADVANC | 374.00 THB | 286.77 THB | -23% |
| Chunghwa Telecom Co 2412 | 136.00 TWD | 100.00 TWD | -26% |
| Telefónica, S.A TEFN | 75.67 MXN | 108.96 MXN | +44% |
| TLKM TLKM | 2,590 IDR | 3,898 IDR | +50% |
| PT Indoritel Makmur Internasional Tbk., DNET | 9,500 IDR | 1,503 IDR | -84% |
Compare Mahanagar Telephone Nigam Limited with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Communication Services stocks →
Frequently asked questions
Is Mahanagar Telephone Nigam Limited (MTNL) overvalued or undervalued?
What is the fair value of MTNL?
What is the quality score of MTNL?
What is the revenue of Mahanagar Telephone Nigam Limited (MTNL)?
What is the net profit margin of MTNL?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Mahanagar Telephone Nigam Limited and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.