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Adani Total Gas Ltd (ATGL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 542066 NSE: ATGL Gas Transmission/Marketing | Mid Cap | Adani Total Gas Share Price

₹744.15 26.90 (3.75%)

As on 04-Jun'26 16:59

Adani Total Gas Ltd (ATGL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 542066 NSE: ATGL Gas Transmission/Marketing | Mid Cap | Adani Total Gas Share Price

₹744.15 26.90 (3.75%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹81,842 Cr.
Current Price
₹744.2
52-Week Low / High
₹454 / 860
TTM EPS
₹6
TTM Sales
₹5,894 Cr.
Book Value per Share
₹44.2
P/E Ratio
124.81
Lower than its 5-year historical median
Industry PE
22.9
Price to Book (P/B)
16.82
Lower than its 5-year historical median
Price to Sales (P/S)
13.88
Lower than its 5-year historical median
EV/EBITDA
63.14
Lower than its 5-year historical median
Dividend Yield
0.05%
Profitability Efficiency
Return on Equity (ROE)
14.46%
Underperforms industry median
Return on Capital Employed (ROCE)
16.96%
Underperforms industry median
Return on Assets (ROA)
7.62%
Operating Profit Margin
20.3%
Net Profit Margin
11.12%
Gross Profit Margin
17.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
17.89%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
5.42%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
0.2%
Asset Quality
Promoter Holding
74.80%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹4,755 Cr.
Equity
₹110 Cr.
Face Value
₹1
All Time Low / High
₹70.20 / 3998.35

Adani Total Gas stock performance

Key Ratios
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Quality

Not Good
Check detailed performance

Valuation

Somewhat Undervalued

Check Valuation charts

Price Trend

Strong
Check Price chart
Q.1 Is Adani Total Gas Ltd a good quality company?
Adani Total Gas Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Adani Total Gas Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Adani Total Gas Ltd vs industry peers?
Adani Total Gas Ltd revenue CAGR is 21.68%, compared to the industry median CAGR of 21.68%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Adani Total Gas Ltd?
Promoters hold 74.80% of the Adani Total Gas Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Adani Total Gas Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -13.45% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Adani Total Gas Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ0%17.4%24.1%34.9%31.3%25.3%21%21.5%17.7%17%-
Value Creation
Index ⓘ		NA0.50.81.61.81.20.90.90.60.5-

Growth Parameters ⓘ
Sales ⓘ01,3741,7191,8751,6963,0384,3784,4755,0005,8945,894
Sales YoY Gr.-NA25.1%9.1%-9.6%79.2%44.1%2.2%11.7%17.9%-
Adj EPS ⓘ00.62.23.94.34.656.165.46
YoY Gr.-NA253.2%79%9.7%7.7%7.3%22.1%-1.5%-9.7%-
BVPS (₹) ⓘ041013.417.62226.732.638.344.244.2
Adj Net
Profit ⓘ		0158240432473509546667657594655
Cash Flow from Ops. ⓘ02773564926547328539559641,149-
Debt/CF from Ops. ⓘ04.91.10.80.81.41.61.51.81.9-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNA28.3%10.4%17.9%
Adj EPS ⓘNA4.7%2.8%-9.7%
BVPSⓘNA20.3%18.3%15.6%
Share Price - -14.6% 3% 9.1%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		018.224.433.627.823.420.420.516.913.113.5
Op. Profit
Mgn % ⓘ		026.626.531.741.525.519.924.722.820.318.6
Net Profit
Mgn % ⓘ		011.7142328.416.812.514.913.210.111.1
Debt to
Equity ⓘ		01.30.40.30.30.40.50.40.40.50.3
Working Cap
Days ⓘ		00214101129885853545437
Cash Conv.
Cycle ⓘ		00-3-6-1012054-22

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,3741,7191,8751,6963,0384,3784,4755,0005,894
Operating Expenses ⓘ + 1,0091,2641,2809922,2653,5083,3713,8674,700
Manufacturing Costs606982103189273316374438
Material Costs8731,0931,0607701,9303,0862,8483,2724,027
Employee Cost 394247525556675757
Other Costs ⓘ 376091689293140164178
Operating Profit ⓘ 3654555947047738701,1041,1331,195
Operating Profit Margin (%) 26.6%26.4%31.7%41.5%25.4%19.9%24.7%22.7%20.3%
Other Income ⓘ + 8087454542374431128
Exceptional Items ⓘ 0-280-1400000
Interest ⓘ 1259041405378111101220
Depreciation ⓘ 6167516383113158204243
Profit Before Tax ⓘ 259357547631684733896875882
Tax ⓘ 94128111159174186229220226
Profit After Tax 165229436472509546668654656
PAT Margin (%) 12.0%13.3%23.3%27.8%16.8%12.5%14.9%13.1%11.1%
Adjusted EPS (₹)0.62.14.04.24.65.06.16.06.0
Dividend Payout Ratio (%)0%12%6.30%5.90%5.40%5%4.10%4.20%4.20%

Valuation of Adani Total Gas - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,0161,1021,4711,9342,4162,9413,5804,2074,865
Share Capital ⓘ 257110110110110110110110110
Reserves ⓘ 7599921,3611,8242,3062,8313,4704,0974,755
Debt +1,2343463554318911,0351,3681,5811,607
Long Term Debt1,2343462983083522688831,5401,597
Short Term Debt00571235397674864110
Minority Interest000000000
Trade Payables13710483116166307330314374
Others Liabilities ⓘ 4154975687249421,3621,3131,5632,703
Total Liabilities ⓘ 2,8032,0482,4763,2044,4155,6456,5927,6659,549

Fixed Assets

Net Fixed Assets ⓘ +8979801,1981,3791,7332,3353,1743,6514,314
Gross Block1,0651,2141,4831,7282,1632,8783,8754,5535,449
Accumulated Depreciation1682342853484305447019021,134
CWIP ⓘ 1021903426961,1711,6191,5021,8722,001
Investments ⓘ 1801762824176346827068111,690
Inventories42444152779199116111
Trade Receivables1418361104187316410424419
Cash Equivalents 24160891134372456469505
Others Assets ⓘ 1,416415463544580231244322510
Total Assets ⓘ 2,8032,0482,4763,2044,4155,6456,5927,6659,549

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 2773564926547328539559641,149
PBT ⓘ 259357547631679733896875882
Adjustment ⓘ 106111547999144215270322
Changes in Working Capital ⓘ 011257810213130-12112
Tax Paid ⓘ -89-122-133-134-147-155-187-169-167
Cash Flow From Investing Activity ⓘ + -988791-461-771-1,133-1,167-752-933-1,236
Capex -140-241-442-606-950-1,175-799-941-988
Net Investments -49-52-106-500-214-2326-25-273
Others ⓘ -7981,083863363232213224
Cash Flow From Financing Activity ⓘ + 779-1,077-10239422295-7856117
Net Proceeds from Shares ⓘ 000000000
Net Proceeds from Borrowing ⓘ 971-954-491991147382728369
Interest Paid ⓘ -52-161-41-41-51-49-142-188-191
Dividend Paid ⓘ 00-660-28-28-28-28-28
Others ⓘ -140385460410224-290-456-34
Net Cash Flow ⓘ 6870-71-7821-191258729

Financial Ratio

PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)16.221.633.9127.7223.4220.420.4716.8114.46
ROCE (%)17.3624.0634.9231.2725.252121.5217.7316.96
Asset Turnover Ratio0.520.750.880.630.840.930.790.760.75
PAT to CFO Conversion(x)1.681.551.131.391.441.561.431.471.75
Working Capital Days
Receivable Days35.4022.4013.2016.9016.5019.6027.502823.90
Inventory Days10.608.607.809.507.306.507.207.206.40
Payable Days57.3040.3032.104726.6027.9040.8035.9031.20

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Adani Total Gas Ltd FAQs

The current trading price of Adani Total Gas on 04-Jun-2026 16:59 is ₹744.1.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Adani Total Gas stood at ₹81,842.4 Cr

The latest P/E ratio of Adani Total Gas as of 03-Jun-2026 is 128.5.

The latest P/B ratio of Adani Total Gas as of 03-Jun-2026 is 16.97.

The 52-week high of Adani Total Gas is ₹859.7 and the 52-week low is ₹453.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Adani Total Gas is ₹5,864 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Adani Total Gas Ltd is a below average quality company.

The key valuation ratios of Adani Total Gas Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Adani Total Gas Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Adani Total Gas Ltd

Adani Total Gas (ATGL) plays a pivotal role in India’s clean energy transition, providing reliable and ecofriendly energy solutions across the nation. As one of the largest private players in the City Gas Distribution sector, the company has established a robust presence, operating across several Geographical Areas (GAs) and many districts. Its focus is on ensuring seamless access to Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) for domestic, commercial, industrial, and transportation sectors. As the company expands its infrastructure and diversify into new-age energy avenues, it remains committed to aligning with the government’s vision of increasing the share of natural gas in India’s energy mix. Its purpose is clear: to drive economic growth, empower communities, and build a cleaner, greener future. With a blend of innovation, operational excellence, and sustainability at the heart of everything it does, it is shaping the energy landscape of tomorrow.

The company is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential) and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable and environment friendly fuel that allows consumers to enjoy a high level of safety, convenience and economic efficiency. The company has already set up city gas distribution networks in Ahmedabad and Vadodara in Gujarat, Faridabad in Haryana and Khurja in Uttar Pradesh. In addition, the development of Allahabad, Chandigarh, Ernakulam, Panipat, Daman, Dharwad, and Udhamsingh Nagar gas distribution is awarded to consortium of Adani Total Gas and Indian Oil Corporation.

Business area of the company

The company is engaged in City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial and vehicle users. The company is exploring of doing businesses of bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment and provision of value-added services relating to CGD business. The company continues to expand its PNG network, delivering cleaner and more efficient energy solutions for industrial, commercial, and residential consumers across its allocated Geographical Areas (GAs). Driving a cleaner transportation ecosystem, the company provides CNG as a sustainable fuel alternative for the transport sector, reducing emissions and promoting environmental responsibility.

Awards and recognitions

  • 2018-19: Adani Skill Development Centre received the Special Jury Recognition Award at the Indian Chamber of Commerce Social Impact Awards
  • 2018-19: GAIMS, Bhuj, received the Kayakalp Award by the Health and Family Welfare Department, Govt. of Gujarat.
  • 2018-19: SuPoshan won the BSNL DainikJagran CSR Awards and was awarded with the esteemed Public Affairs Asia (PAA) Gold Standard Award for Corporate Citizenship (Community Relations).
  • 2019-20: Golden Peacock Awards - HR Excellence Award.
  • 2019-20: ISGF Innovation Awards - Gold Award for Smart Technology.
  • 2019-20: Star of the Industry Awards - Excellence in Business Transformation (CGD).
  • 2022-23: ATGL received the ‘ESG Initiative of the Year’ award from ET Energyworld Annual Gas Conclave for its Greenmosphere initiative. 
  • 2022-23: TGL was awarded the Good Corporate Citizen Award for the year 2022 by PHD Chamber of Commerce and Industry (PHDCCI).
  • 2023-24: Received the Climate Action Programme – Committed Award Under the CAP2.0 Awards Programme by CII. 
  • 2023-24: Received the 'Outstanding Commitment in Road Safety by Corporates' Award from FICCI. 
  • 2023-24: ATGL Corporate Office was Awarded with IGBC 'Gold' Certification.
  • 2023-24: Received the Golden Peacock Award particularly in Oil and Gas for HR Excellence. 
  • 2024-25: Received CII-CAP 2.0 Climate Change Award (Oriented category) as recognition for its sustainable solutions.
  • 2024-25: Humanity HERO Award 2024-25 conferred by CSR associate partner – Yuva Unstoppable.

Milestones

  • 2018: Adani Gas Ltd. gets listed, slated to be the largest CGD Company in India.
  • 2018: Adani Gas expands pan-India CGD presence.
  • 2019: TOTAL joins Adani to create India’s premier integrated gas utility
  • 2020: AGL signs Definitive Agreement for acquisition of 3 Geographical Areas (GAs)
  • 2020: Adani Group announces strategic collaboration with Snam, Europe’s leading gas infrastructure company on energy mix transition.
  • 2021: Adani Total Gas executes SSSA with GSEC, SMTPL.
  • 2021: Adani Total Gas forays into Compressed Bio-Gas Business.
  • 2021: Adani Total Gas launches greenmosphere. 
  • 2022: Adani Total Gas wins licenses to expand CGD network to 14 new Gas. 
  • 2022: Adani Total Gas forays into electric mobility infrastructure sector.
  • 2023: Adani Total Gas to invest around Rs 20,000 crore in 8 to 10 years to expand city gas. 
  • 2023: Adani Total Gas launches green hydrogen blending pilot project at Ahmedabad. 
  • 2024: Adani Total Gas inks MoU with Shigan Quantum Technologies. 
  • 2024: Adani Total Gas, INOX India enter into mutual support agreement. 
  • 2024: Adani Total Gas’ arm commissions operations at phase 1 of Barsana Biogas Plant. 
  • 2025: Adani Total Gas inks pact with Jio-bp. 


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