Adani Total Gas Ltd.

NSE: ATGL · LPG/CNG/PNG/LNG Supplier

52W Range₹463 ₹860

Snapshot

Unlock Adani Total Gas Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Adani Total Gas Limited is a prominent Indian energy company engaged in the distribution of piped natural gas (PNG) to industrial, commercial, and residential consumers. It also operates an extensive network of compressed natural gas (CNG) filling stations to serve the automotive sector.

Business Model

The company generates revenue primarily through the sale and distribution of natural gas across its widespread infrastructure network. It leverages long-term supply contracts and retail distribution margins to monetise its gas distribution assets.

  • CNG Stations:334

Growth Outlook

Growth is driven by the aggressive expansion of city gas distribution (CGD) networks across various Indian states. The company continues to invest in infrastructure to increase its footprint in the PNG and CNG segments.

Key Risks

  • Regulatory Risk. Changes in government policies regarding gas allocation and pricing can significantly impact operational margins.
  • Commodity Price Volatility. Fluctuations in the global price of natural gas affect procurement costs and the company's ability to pass on costs to end consumers.
  • Infrastructure Execution Risk. Delays in obtaining necessary permits and land acquisition for pipeline expansion may hinder growth targets.
  • Competitive Pressure. The entry of new players in the city gas distribution sector could lead to increased competition and pressure on market share.

Price

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Key Metrics

REVENUE

₹6,409 Cr

TTM · consolidated

+18.4%YoY

NET PROFIT

₹656 Cr

TTM · consolidated

+0.2%YoY

EPS

₹5.96

TTM · consolidated

+0.0%YoY

RETURN ON EQUITY

15.0%

TTM · consolidated

-2.5 ppYoY

RETURN ON CAPITAL EMPLOYED

15.4%

TTM · consolidated

-3.4 ppYoY

P/E

118.7x

Q4 FY26 · consolidated

118.7 vs 132.2x5Y avg

EV/EBITDA

64.7x

Q4 FY26 · consolidated

64.7 vs 78.8x5Y avg

EBITDA MARGIN

19.2%

TTM · consolidated

-2.3 ppYoY

NET PROFIT MARGIN

9.9%

Q4 FY26 · consolidated

-0.7 ppYoY

DEBT TO EQUITY

0.5x

Q4 FY26 · consolidated

+0.01xYoY

Peers · LPG/CNG/PNG/LNG Supplier

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Adani Total Gas Ltd.ATGL
56,964118.7464.7118.4%19.2%15.0%15.4%+7.2%
Petronet LNG Ltd.PETRONET
36,10510.586.38-14.7%14.3%19.1%22.6%-11.1%
Gujarat Gas Ltd.GUJGASLTD
22,99219.8810.394.2%13.2%9.3%12.5%
Indraprastha Gas Ltd.IGL
21,00013.929.668.4%12.4%14.2%14.8%-29.9%
Mahanagar Gas Ltd.MGL
9,12713.096.9613.6%17.3%14.0%17.7%-24.7%
Confidence PetroCONFIPET
1,16626.987.8249.6%8.0%7.1%10.7%+35.6%

As of Q4 FY26

Financials