Adani Total Gas Ltd. (ATGL) AI Stock Analysis

• Market Cap: ₹672.86B
• Dividend Yield: 0.04%
• Average Volume (3M): 71.13K
• Price to Earnings (P/E): 103.9
• Beta (1Y): 1.63
• Revenue Growth: 14.65%
• EPS Growth: -5.99%
• Country: IN
• Employees: 549
• Sector: Energy
• Sector Strength: 43
• Industry: Regulated Gas
• EPS (TTM): 1.50
• Shares Outstanding: 1,099,810,000
• 10 Day Avg. Volume: 83,346
• 30 Day Avg. Volume: 71,127
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹707.00
• Price Target Upside: 16.03% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 69 Neutral
• Price Target: ₹707.00 ▲(16.03% Upside)

Adani Total Gas Ltd. shows strong financial performance with robust revenue growth and profit margins. However, technical indicators suggest bearish momentum, and the high P/E ratio raises valuation concerns. The lack of earnings call and corporate events data limits further insights.

Adani Total Gas Ltd. Business Overview & Revenue Model

Company Description

Adani Total Gas Ltd. (ATGL) is a leading energy company in India, primarily engaged in the distribution of natural gas. It operates within the natural gas sector, offering products and services that include piped natural gas (PNG) for residential, commercial, and industrial customers, and compressed natural gas (CNG) for vehicles. The company is a joint venture between the Adani Group and TotalEnergies, focusing on expanding its reach and infrastructure to enhance the accessibility and supply of natural gas across various regions in India.

How the Company Makes Money

Adani Total Gas Ltd. (ATGL) generates revenue through several key streams. The primary source of income is the sale of piped natural gas (PNG) to residential, commercial, and industrial customers, which forms the backbone of its business operations. Additionally, ATGL earns from the sale of compressed natural gas (CNG) for automotive use, supported by an extensive network of CNG stations. The company benefits from its strategic joint venture with TotalEnergies, which enhances its capabilities and market presence. Furthermore, ATGL invests in expanding its infrastructure, such as pipelines and CNG stations, to increase its supply capacity and customer base, thereby driving revenue growth. Revenue is also influenced by the regulatory environment, market demand for cleaner energy solutions, and the overall growth of the natural gas market in India.

Adani Total Gas Ltd. Financial Statement Overview

Summary

Adani Total Gas Ltd. demonstrates strong growth and profitability with robust revenue and profit margins, effective equity utilization, and strong cash generation. However, the rise in liabilities and volatile free cash flow highlight the need for careful financial management.

Income Statement

Adani Total Gas Ltd. has shown a robust revenue growth, increasing from ₹18,615.9 million in 2020 to ₹49,998.6 million in 2025. The gross profit margin and net profit margin have remained strong, reflecting efficient cost management and profitability. The EBIT and EBITDA margins indicate strong operational efficiency, although a slight decline in net income from 2024 to 2025 suggests areas for improvement in bottom-line growth.

Balance Sheet

The company maintains a healthy equity ratio with stockholders' equity consistently increasing, indicating solid financial health. The debt-to-equity ratio has been stable, ensuring manageable leverage levels. Return on Equity is robust, showcasing effective use of equity to generate profits. However, the increase in total liabilities over the years indicates a need for cautious financial management.

Cash Flow

Operating cash flow has consistently grown, outpacing net income, which points to strong cash generation capability. However, the free cash flow has been volatile, mainly due to heavy capital expenditures. The free cash flow to net income ratio shows a need for careful capital investment planning to enhance cash flow stability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	50.00B	50.00B	44.76B	43.78B	30.38B	16.84B
Gross Profit	16.01B	17.27B	15.54B	12.92B	9.93B	8.61B
EBITDA	11.64B	11.33B	11.40B	9.00B	8.09B	7.29B
Net Income	6.54B	6.54B	6.67B	5.46B	5.09B	4.63B
Balance Sheet
Total Assets	76.65B	76.65B	65.92B	56.45B	44.15B	32.04B
Cash, Cash Equivalents and Short-Term Investments	4.97B	4.97B	1.41B	521.80M	312.70M	102.60M
Total Debt	18.34B	18.34B	15.57B	14.22B	10.35B	5.29B
Total Liabilities	34.58B	34.58B	30.12B	27.04B	19.99B	12.70B
Stockholders Equity	42.07B	42.07B	35.80B	29.41B	24.16B	19.34B
Cash Flow
Free Cash Flow	0.00	229.50M	1.56B	-3.23B	-2.15B	470.70M
Operating Cash Flow	0.00	9.64B	9.55B	8.53B	7.36B	6.54B
Investing Cash Flow	0.00	-9.33B	-7.52B	-11.67B	-11.37B	-7.71B
Financing Cash Flow	0.00	563.50M	-777.30M	2.95B	4.22B	386.10M

Adani Total Gas Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 609.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ATGL, the sentiment is Neutral. The current price of 609.3 is below the 20-day moving average (MA) of 620.29, below the 50-day MA of 643.20, and below the 200-day MA of 650.32, indicating a bearish trend. The MACD of -13.79 indicates Positive momentum. The RSI at 44.13 is Neutral, neither overbought nor oversold. The STOCH value of 64.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ATGL.

Adani Total Gas Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BPCL	69 Neutral	₹1.40T	10.37		3.09%	-1.74%	-49.94%
ATGL	69 Neutral	₹672.86B	103.87		0.04%	14.65%	-5.99%
GUJGASLTD	67 Neutral	₹292.70B	25.56		1.32%	-2.76%	-9.01%
JSWENERGY	66 Neutral	₹931.82B	42.83		0.38%	22.49%	6.11%
POWERINDIA	65 Neutral	₹922.30B	179.10		0.03%	18.32%	185.03%
HINDPETRO	59 Neutral	₹868.26B	8.50		2.55%	-1.06%	3.34%
Sector *	56 Neutral	C$4.17B	2.02	16.25%	5.62%	10.63%	-50.60%

Adani Total Gas Ltd. Corporate Events

Adani Total Gas Ltd Concludes 20th AGM with Key Resolutions Passed

Adani Total Gas Limited held its 20th Annual General Meeting on June 25, 2025, where several key resolutions were passed. These included the adoption of audited financial statements for the fiscal year ending March 31, 2025, the declaration of a dividend on equity shares for the 2024-25 fiscal year, and the re-appointment of directors Mr. Suresh P Manglani and Mr. Pranav V Adani. Additionally, M/s Makarand M Joshi & Co was appointed as the secretarial auditor for a term of five years. These resolutions, passed with the requisite majority, underscore the company’s ongoing governance and strategic planning efforts.

Adani Total Gas Announces Trading Window Closure Ahead of Financial Results

Adani Total Gas Limited has announced the closure of its trading window in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. This closure will be effective from July 1, 2025, and will last until 48 hours after the company announces its unaudited financial results for the quarter ending June 30, 2025. This measure is a regulatory requirement aimed at preventing insider trading and ensuring transparency in the company’s financial disclosures.

Adani Total Gas Limited Conducts 20th AGM with E-Voting

Adani Total Gas Limited held its 20th Annual General Meeting (AGM) on June 25, 2025, via video conferencing. During the meeting, the company provided remote e-voting facilities for shareholders to vote on resolutions, ensuring broad participation. The proceedings and video recording of the AGM are accessible on the company’s website, reflecting transparency and engagement with stakeholders.