Adani Total Gas Ltd. (IN:ATGL)
:ATGL
Top Page
Adani Total Gas Ltd.
(ATGL)
Select Model
Select Model
Rating:68Neutral
Price Target:
₹568.00
▼(-1.59% Downside)
Action:ReiteratedDate:03/17/26
The score is driven primarily by strong financial performance (growth, margins, and generally healthy leverage), partially offset by weak longer-term technical positioning (below key moving averages) and a demanding valuation (very high P/E with minimal dividend support).
Positive Factors
Revenue Growth
Multi-year top-line expansion demonstrates durable demand and successful CGD network rollout across segments. Sustained revenue growth supports economies of scale, higher pipeline utilization and underpins long-term cash generation as new customer additions and volume growth continue.
Negative Factors
Volatile Free Cash Flow
Heavy, ongoing capex driving FCF swings reduces near-term financial flexibility. Even with rising operating cash flow, volatile FCF can constrain dividends, increase reliance on external funding and raise execution risk for expansion projects, affecting stability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Multi-year top-line expansion demonstrates durable demand and successful CGD network rollout across segments. Sustained revenue growth supports economies of scale, higher pipeline utilization and underpins long-term cash generation as new customer additions and volume growth continue.
Read all positive factors
Adani Total Gas Ltd. (ATGL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹582.29B
Dividend Yield0.04%
Average Volume (3M)110.90K
Price to Earnings (P/E)98.4
Beta (1Y)0.63
Revenue Growth16.61%
EPS Growth-10.87%
CountryIN
Employees549
SectorEnergy
Sector Strength52
IndustryRegulated Gas
Share Statistics
EPS (TTM)1.44
Shares Outstanding1,099,810,000
10 Day Avg. Volume82,242
30 Day Avg. Volume110,896
Financial Highlights & Ratios
PEG Ratio-50.34
Price to Book (P/B)15.48
Price to Sales (P/S)13.03
P/FCF Ratio2.84K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Adani Total Gas Ltd. Business Overview & Revenue Model
Company Description
Adani Total Gas Limited distributes piped natural gas (PNG) to industrial, commercial, and residential customers. The company also distributes compressed natural gas (CNG) to the automotive sector. It has gas distribution networks in Gujarat, Hary...
How the Company Makes Money
ATGL primarily makes money by selling natural gas to end customers through its city gas distribution networks. Its main revenue streams typically include: (1) CNG sales to the automotive/transport segment via CNG stations, where revenue is generat...
Adani Total Gas Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
80
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 52.33B | 50.00B | 44.75B | 43.78B | 30.38B | 16.96B |
| Gross Profit | 16.54B | 16.42B | 15.53B | 12.31B | 10.60B | 8.87B |
| EBITDA | 10.97B | 11.20B | 10.84B | 8.61B | 7.64B | 6.96B |
| Net Income | 6.48B | 6.54B | 6.67B | 5.46B | 5.09B | 4.63B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 76.65B | 65.92B | 56.45B | 44.15B | 32.04B |
| Cash, Cash Equivalents and Short-Term Investments | 3.22B | 3.22B | 1.41B | 521.80M | 312.70M | 102.60M |
| Total Debt | 0.00 | 18.34B | 15.57B | 14.22B | 10.35B | 5.29B |
| Total Liabilities | -42.07B | 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
Positive
577.15
Price Trends
528.31
Positive
560.90
Negative
597.01
Negative
Market Momentum
0.66
Negative
50.57
Neutral
18.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ATGL, the sentiment is Positive. The current price of 577.15 is above the 20-day moving average (MA) of 519.88, above the 50-day MA of 528.31, and below the 200-day MA of 597.01, indicating a neutral trend. The MACD of 0.66 indicates Negative momentum. The RSI at 50.57 is Neutral, neither overbought nor oversold. The STOCH value of 18.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ATGL.
Adani Total Gas Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹1.23T | 5.71 | ― | 4.73% | -1.35% | 61.80% | |
73 Outperform | ₹1.10T | 78.05 | ― | 0.03% | 16.49% | 245.51% | |
69 Neutral | ₹218.87B | 26.58 | ― | 1.47% | -2.39% | -12.17% | |
68 Neutral | ₹582.29B | 98.39 | ― | 0.04% | 16.61% | -10.87% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | ₹851.67B | 50.05 | ― | 0.41% | 39.71% | 1.33% | |
58 Neutral | ₹725.06B | 6.62 | ― | 3.26% | -1.81% | 231.75% |
* Energy Sector Average
IN:ATGL
Adani Total Gas Ltd.
529.45
-62.08
-10.49%
IN:BPCL
Bharat Petroleum Corporation Limited
282.55
21.21
8.11%
IN:GUJGASLTD
Gujarat Gas Ltd.
317.95
-86.70
-21.43%
IN:HINDPETRO
Hindustan Petroleum Corporation Limited
340.75
-7.98
-2.29%
IN:JSWENERGY
JSW Energy Limited
484.65
-35.69
-6.86%
IN:POWERINDIA
Hitachi Energy India Limited
24,691.10
12,417.51
101.17%
Adani Total Gas Ltd. Corporate Events
Adani Total Gas Blames Share Price Volatility on Market Forces, Reaffirms SEBI Compliance
Mar 13, 2026
Adani Total Gas has told stock exchanges that the recent sharp movement in its share price is entirely driven by market conditions and not by any undisclosed company-specific developments. The management said it has neither control over, nor speci...
Adani Total Gas Flags Middle East Supply Hit as India Prioritises Retail and Transport Gas
Mar 11, 2026
Adani Total Gas Ltd. has disclosed that recent geopolitical escalation in the Middle East has led some of its gas suppliers to curtail deliveries, resulting in reduced supplies to its industrial customers. The disruption underscores the company...
Adani Total Gas Says US Legal Summons Report Does Not Involve Company
Jan 23, 2026
Adani Total Gas Limited has clarified to the BSE and NSE that a recent media report about a US regulator seeking measures to serve legal summons on Gautam and Sagar Adani does not involve the company in any way. The company reiterated that there a...
Adani Total Gas Files SEBI-Mandated Demat Compliance Certificate for December Quarter
Jan 8, 2026
Adani Total Gas Limited has submitted to the stock exchanges a confirmation certificate from its registrar and share transfer agent, MUFG Intime India Private Limited, for the quarter ended 31 December 2025, in compliance with Regulation 74(5) of ...
Exchange Seeks Clarification from Adani Total Gas After Surge in Trading Volumes
Jan 1, 2026
The stock of Adani Total Gas Limited has seen a significant surge in trading volumes, prompting the stock exchange to seek updated and relevant information from the company to safeguard investor interests and ensure market transparency. The exchan...
Adani Total Gas shuts trading window ahead of December-quarter results
Dec 29, 2025
Adani Total Gas Limited has notified the stock exchanges that it will close its trading window for dealing in the company’s securities from 1 January 2026 until 48 hours after the release of its unaudited financial results for the quarter en...
Adani Total Gas Completes E-Dispatch of Postal Ballot Notice, Publishes Statutory Ads
Dec 25, 2025
Adani Total Gas Limited has completed the electronic dispatch of its Postal Ballot Notice dated 19 December 2025, along with the accompanying explanatory statement, to all company members on 24 December 2025. The company has also published statuto...
Adani Total Gas Seeks Shareholder Nod via E-Vote for Independent Director Appointment
Dec 24, 2025
Adani Total Gas Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. K. Jairaj as an Independent, Non-Executive Director of the company, via a special resolution. In line with SEBI Listing Regulatio...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.