Adani Total Gas Ltd

ATGL

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Market Cap

₹ 65,136 Cr

P/E

104.09

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Adani Total Gas Limited is engaged in City Gas Distribution (CGD), supplying PNG to industrial, commercial, residential segments, and CNG to automobiles.

ATGL has a strong presence with 662 CNG stations and substantial pipeline growth—over 14,524 inch-km, reflecting robust infrastructure scalability in expanding CGD operations.

The company's strategic partnership with Indian Oil Corporation Ltd. and TotalEnergies positions it well for growth, leveraging synergies in clean energy initiatives and operational excellence.

ATGL's e-mobility and biomass ventures are gaining traction, with over 3,234 charging points and biomass sales indicating diversification into sustainable energy.

Adani Total Gas exhibits strong financial discipline with an EBITDA growth of 13% CAGR, reflecting operational efficiency amidst challenging market conditions.

Sector

Gas Distribution

Industry

Gas Distribution

Market Cap

65,136 Cr

Volatility

High Risk

P/E Ratio

104.1

Industry P/E

17.9

PEG Ratio

12.0

P/B Ratio

14.5

52W High

797.40

52W Low

533.00

Sales CAGR

11.74%

18.96%

22.08%

10Y

18.13%

Profit CAGR

-1.96%

8.69%

8.24%

10Y

25.91%

ROE

TTM

13.88%

17.13%

18.63%

10Y

19.23%

ROCE

TTM

13.56%

19.27%

21.13%

10Y

21.37%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GAIL	168.30	1,11,678 Cr	12.37	1.27	4.42	10.24	10.76	8.03
ATGL	586.00	65,136 Cr	104.09	14.45	0.04	13.88	13.56	7.16
PETRONET	264.70	40,290 Cr	10.98	1.91	3.72	17.39	20.95	12.62
AEGISVOPAK	253.95	27,628 Cr	152.98	5.83	0.00	3.81	5.57	2.56
GUJGASLTD	387.00	27,033 Cr	24.21	3.11	1.48	12.83	17.24	8.35
IGL	183.20	25,970 Cr	16.26	2.31	3.77	14.23	17.81	9.49
GSPL	281.95	16,244 Cr	15.78	1.36	1.74	8.63	17.47	7.03

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	1,056	1,096	1,156	1,167	1,145	1,219	1,294	1,341	1,379	1,451
Expenses	808	816	868	879	849	913	1,030	1,075	1,085	1,156
Operating Profit	248	280	288	288	296	306	265	266	293	295
OPM %	23.46	25.55	24.91	24.68	25.88	25.09	20.45	19.85	21.27	20.35
Other Income	10	15	18	19	7.43	16	8.00	14	12	12
Interest	24	27	31	29	26	23	27	24	28	26
Depreciation	33	38	39	49	46	51	53	53	56	62
Profit Before Tax	201	230	236	229	232	247	192	204	222	219
Tax %	25.38	24.89	25.10	26.74	25.84	24.97	25.87	24.10	25.66	25.32
Net Profit	150	173	177	168	172	186	142	155	165	163
EPS in Rs	1.37	1.57	1.61	1.53	1.56	1.69	1.29	1.41	1.50	1.49

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,458	1,823	1,991	1,784	3,206	4,683	4,816	5,412	5,233
Expenses	1,008	1,264	1,280	991	2,265	3,508	3,371	3,867	4,103
Operating Profit	449	559	711	793	942	1,175	1,445	1,545	1,130
OPM %	30.82	30.66	35.72	44.45	29.37	25.09	30.01	28.55	21.59
Other Income	80	59	44	30	42	54	62	46	51
Interest	125	90	41	40	53	78	111	101	102
Depreciation	61	67	51	63	83	113	158	204	213
Profit Before Tax	259	357	547	631	679	733	896	875	865
Tax %	36.45	35.85	20.31	25.23	25.68	25.40	25.53	25.20	25.14
Net Profit	165	229	436	472	505	546	668	654	648
EPS in Rs	—	2.08	3.96	4.21	4.64	4.97	6.08	5.95	5.69
Dividend Payout %	0.00	12.02	6.30	5.94	5.40	5.03	4.12	4.20	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	110	110	110	110	110	110	110	110
Reserves	759	992	1,361	1,824	2,306	2,831	3,470	4,097
Borrowings	1,234	346	380	529	1,035	1,422	1,557	1,834
Other Liabilities	699	600	625	741	964	1,282	1,454	1,624
Total Liabilities	2,803	2,048	2,476	3,204	4,415	5,645	6,592	7,665
Fixed Assets	897	980	1,198	1,379	1,733	2,335	3,174	3,651
CWIP	102	190	342	696	1,171	1,619	1,502	1,872
Investments	180	176	282	417	634	682	706	811
Other Assets	1,624	701	655	711	878	1,010	1,209	1,331
Total Assets	2,803	2,048	2,476	3,204	4,415	5,645	6,592	7,665

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	277	356	492	654	736	853	955	964
Cash from Investing Activity	-988	791	-461	-771	-1,137	-1,167	-752	-933
Cash from Financing Activity	779	-1,077	-102	39	422	295	-78	56
Net Cash Flow	68	70	-71	-78	21	-19	125	87

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	74.80%	74.80%	74.80%	74.80%	74.80%	74.80%	74.80%	74.80%	74.80%	74.80%	74.80%	74.80%
FIIs	17.25%	16.31%	14.08%	13.94%	13.06%	13.14%	12.96%	13.07%	13.06%	13.21%	13.01%	12.88%
DIIs	6.09%	6.14%	6.15%	6.15%	6.14%	6.12%	6.15%	6.13%	6.27%	6.23%	6.31%	6.24%
Public	1.86%	2.75%	4.97%	5.11%	5.99%	5.94%	6.09%	6.00%	5.86%	5.75%	5.88%	6.08%
Total Shareholders	1,36,022	3,01,530	4,82,919	4,94,186	6,53,417	6,31,022	6,55,643	6,25,899	6,43,039	6,41,091	6,32,842	6,34,539

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

ESG Rating

6 days ago

ESG Rating Assigned by NSE

NSE Sustainability Ratings has assigned an ESG Rating of '73' for Adani Total Gas Limited for FY2025, reflecting the company's performance in environmental, social, and governance parameters.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Investor Presentation

Q2 FY24

Investor Presentation

Q1 FY24

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	1,056	1,096	1,156	1,167	1,145	1,219	1,294	1,341	1,379	1,451
Expenses	808	816	868	879	849	913	1,030	1,075	1,085	1,156
Operating Profit	248	280	288	288	296	306	265	266	293	295
OPM %	23.46	25.55	24.91	24.68	25.88	25.09	20.45	19.85	21.27	20.35
Other Income	10	15	18	19	7.43	16	8.00	14	12	12
Interest	24	27	31	29	26	23	27	24	28	26
Depreciation	33	38	39	49	46	51	53	53	56	62
Profit Before Tax	201	230	236	229	232	247	192	204	222	219
Tax %	25.38	24.89	25.10	26.74	25.84	24.97	25.87	24.10	25.66	25.32
Net Profit	150	173	177	168	172	186	142	155	165	163
EPS in Rs	1.37	1.57	1.61	1.53	1.56	1.69	1.29	1.41	1.50	1.49

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,458	1,823	1,991	1,784	3,206	4,683	4,816	5,412	5,233
Expenses	1,008	1,264	1,280	991	2,265	3,508	3,371	3,867	4,103
Operating Profit	449	559	711	793	942	1,175	1,445	1,545	1,130
OPM %	30.82	30.66	35.72	44.45	29.37	25.09	30.01	28.55	21.59
Other Income	80	59	44	30	42	54	62	46	51
Interest	125	90	41	40	53	78	111	101	102
Depreciation	61	67	51	63	83	113	158	204	213
Profit Before Tax	259	357	547	631	679	733	896	875	865
Tax %	36.45	35.85	20.31	25.23	25.68	25.40	25.53	25.20	25.14
Net Profit	165	229	436	472	505	546	668	654	648
EPS in Rs	—	2.08	3.96	4.21	4.64	4.97	6.08	5.95	5.69
Dividend Payout %	0.00	12.02	6.30	5.94	5.40	5.03	4.12	4.20	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	110	110	110	110	110	110	110	110
Reserves	759	992	1,361	1,824	2,306	2,831	3,470	4,097
Borrowings	1,234	346	380	529	1,035	1,422	1,557	1,834
Other Liabilities	699	600	625	741	964	1,282	1,454	1,624
Total Liabilities	2,803	2,048	2,476	3,204	4,415	5,645	6,592	7,665
Fixed Assets	897	980	1,198	1,379	1,733	2,335	3,174	3,651
CWIP	102	190	342	696	1,171	1,619	1,502	1,872
Investments	180	176	282	417	634	682	706	811
Other Assets	1,624	701	655	711	878	1,010	1,209	1,331
Total Assets	2,803	2,048	2,476	3,204	4,415	5,645	6,592	7,665

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	277	356	492	654	736	853	955	964
Cash from Investing Activity	-988	791	-461	-771	-1,137	-1,167	-752	-933
Cash from Financing Activity	779	-1,077	-102	39	422	295	-78	56
Net Cash Flow	68	70	-71	-78	21	-19	125	87

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GAIL	168.30	1,11,678 Cr	12.37	1.27	4.42	10.24	10.76	8.03
ATGL	586.00	65,136 Cr	104.09	14.45	0.04	13.88	13.56	7.16
PETRONET	264.70	40,290 Cr	10.98	1.91	3.72	17.39	20.95	12.62
AEGISVOPAK	253.95	27,628 Cr	152.98	5.83	0.00	3.81	5.57	2.56
GUJGASLTD	387.00	27,033 Cr	24.21	3.11	1.48	12.83	17.24	8.35
IGL	183.20	25,970 Cr	16.26	2.31	3.77	14.23	17.81	9.49
GSPL	281.95	16,244 Cr	15.78	1.36	1.74	8.63	17.47	7.03

Overview

Detailed Summary

Adani Total Gas Limited is engaged in City Gas Distribution (CGD), supplying PNG to industrial, commercial, residential segments, and CNG to automobiles.

ATGL has a strong presence with 662 CNG stations and substantial pipeline growth—over 14,524 inch-km, reflecting robust infrastructure scalability in expanding CGD operations.

The company's strategic partnership with Indian Oil Corporation Ltd. and TotalEnergies positions it well for growth, leveraging synergies in clean energy initiatives and operational excellence.

ATGL's e-mobility and biomass ventures are gaining traction, with over 3,234 charging points and biomass sales indicating diversification into sustainable energy.

Adani Total Gas exhibits strong financial discipline with an EBITDA growth of 13% CAGR, reflecting operational efficiency amidst challenging market conditions.

Sector

Gas Distribution

Industry

Gas Distribution

Market Cap

65,136 Cr

Volatility

High Risk

P/E Ratio

104.1

Industry P/E

17.9

PEG Ratio

12.0

P/B Ratio

14.5

52W High

797.40

52W Low

533.00

Sales CAGR

11.74%

18.96%

22.08%

10Y

18.13%

Profit CAGR

-1.96%

8.69%

8.24%

10Y

25.91%

ROE

TTM

13.88%

17.13%

18.63%

10Y

19.23%

ROCE

TTM

13.56%

19.27%

21.13%

10Y

21.37%