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  2. •

    Utilities

  3. •

    Regulated Gas
Adani Total Gas Ltd

Adani Total Gas Ltd

ATGL.BO
Adani Total Gas LtdIN flagBombay Stock Exchange
724.55
INR
+2.80
- -
796.87BMarket Cap
Adani Total Gas Ltd
ATGL.BO
(Bombay Stock Exchange)

Recent

price

724.55

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
12.13
10.22
9.84
12.43
15.54
16.93
15.31
27.29
39.56
40.42
45.19
53.23
47.95
Revenue per Share
0.87
0.74
0.92
1.47
2.08
3.97
4.21
4.63
4.97
6.07
5.95
5.96
5.94
Basic EPS, GAAP
1.71
1.53
1.22
1.24
1.05
0.46
0.43
-1.99
-2.93
1.42
0.21
1.46
- -
Free Cash Flow per Basic Share
- -
0.48
- -
- -
- -
0.6
- -
0.25
0.25
0.25
0.25
0.25
- -
Dividend per Share
5.32
5.58
6.5
6.58
8.69
12.04
16.25
20.64
25.35
31.16
36.87
42.57
- -
Book Value per Share
5.05
5.32
6.23
7.65
9.75
13.07
17.26
21.67
26.43
32.11
37.78
43.74
- -
Tangible Book Value per Share
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,091
Basic Weighted Avg Shares
13,339
11,245
10,817
13,674
17,094
18,616
16,836
30,015
43,510
44,455
49,697
58,560
52,330
Sales/Revenue/Turnover
12.89
18.99
20.94
22.43
22.72
29.24
38.13
23.02
17.4
21.29
18.82
16.3
17.51
Operating Margin (%)
552
525
562
610
673
507
625
827
1,131
1,579
2,036
2,431
2,135
Depreciation Expense
961
815
1,012
1,620
2,287
4,363
4,628
5,094
5,465
6,675
6,544
6,557
6,478
Net Income, GAAP
28.09
41.16
35.17
36.45
35.85
20.31
25.23
25.5
25.4
25.53
25.2
25.65
25.14
Effective Tax Rate (%)
7.2
7.25
9.35
11.85
13.38
23.44
27.49
16.97
12.56
15.02
13.17
11.2
12.38
Profit Margin (%)
1,007
-121
3,044
2,865
1,817
-330
-5,849
-11,024
-13,353
-7,783
-4,173
-8,077
- -
Working Capital
2,541
942
3,207
12,343
3,457
3,187
3,454
3,882
3,126
9,602
16,192
20,984
- -
LT Debt
5,852
6,140
7,148
8,694
11,020
14,709
19,338
24,162
29,410
35,803
42,070
48,648
- -
Total Equity
- -
12.4
12.49
11.2
13.39
25.48
22.01
17.4
14.46
14.85
12.53
10.34
- -
Return on Invested Capital (%)
- -
10.38
10.99
14.2
16.03
30.14
24.13
19.4
15.62
16.12
13.23
11.02
60.02
Return on Capital (%)
- -
13.59
15.23
22.53
27.24
38.27
29.74
25.11
21.61
21.48
17.49
15.01
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
2,149
- -
LT Borrowings
- -
15,400
- -
LT Finance Leases
- -
792
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
1,100
- -
Market Capitalization
839,306
662,768
737,533

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
11,209
- -
Cash, Cash Equivalents & STI
- -
3,222
- -
Accounts Receivable, Net
- -
4,240
- -
Inventories
- -
1,157
- -
Total Current Liabilities
- -
15,382
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
2,149
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
23.13%
20.31%
15.63%
Free Cash Flow
-24.63%
-29.88%
600.78%
Net Income, GAAP
26%
7.54%
0.2%
Sales/Revenue/Turnover
20.2%
31.01%
17.83%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10,561
10,956
11,561
11,377
44,455
2025
11,455
12,186
12,945
13,413
49,697
2026
13,786
15,074
15,572
- -
58,560

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.37
1.57
1.61
- -
6.07
2025
1.56
1.69
1.29
1.4
5.95
2026
1.56
1.44
1.53
- -
5.96

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.25
2025
- -
- -
- -
- -
0.25
2026
- -
- -
- -
- -
0.25
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Business
Adani Total Gas Limited operates as a leading city gas distribution company primarily engaged in the supply and distribution of natural gas across India. The company’s core products and services include Piped Natural Gas (PNG) for residential, commercial, and industrial use; Compressed Natural Gas (CNG) for automotive transportation; Compressed Biogas (CBG); Liquefied Natural Gas (LNG) for transport applications; and infrastructure development for Electric Vehicle (EV) charging stations. It operates in 34 authorized geographical areas and participates in joint ventures, notably Indian Oil Adani Gas Pvt Ltd, expanding its footprint with both steel and MDPE pipeline networks. The company’s broad client base spans households, industries, commercial establishments, and the transportation sector. Recent major developments include a strategic partnership with Jio-bp, a joint venture between Reliance Industries and BP, enabling mutual fuel dispensing where select ATGL outlets provide Jio-bp petrol and diesel, while selected Jio-bp outlets incorporate ATGL’s CNG units, optimizing fuel retail infrastructure within authorized geographical areas. The company marked operational milestones with over 1 million household PNG connections and 662 CNG stations, including expansion of CODO/DODO category stations. ATGL also commissioned its first CBG station and expanded its EV charging infrastructure, aligning with India’s energy transition goals. Financially, the firm reported strong volume growth, revenue increases, and an upgraded long-term credit rating to AA+ (Stable) by ICRA, CRISIL, and CARE, reflecting its growing scale, robust gas sourcing, and strong financial health. Founded in 2006 and headquartered in Ahmedabad, India, Adani Total Gas Limited is a joint venture between the Adani Group and TotalEnergies, with TotalEnergies holding a 37.4% stake. The company leverages strategic alliances, infrastructure expansion, and diversified energy offerings to serve a broad geographic footprint throughout India. Its subsidiaries and partnerships support enhanced technology adoption, operational excellence, and a commitment to sustainable and reliable clean energy solutions in line with national energy security and environmental protection objectives.