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Adani Total Gas (ATGL) had a P/E of 98.7× on 6 Nov 2026, above the industry P/E of 12.1×, and the shares are 33% below their 52-week high. It earns ROCE of 14% and ROE of 13%, and sales and net profit grew 10% and 6.3% a year over 3 years. Debt is 0.53× equity. It is a mid-cap company with a market cap of ₹63,283 Cr, ranked 2nd of 9 Utilities (Regulated Gas) companies by market cap; the shares fell 7.6% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹578.30
Day high
₹578.30
Day low
₹567.15
Prev. close
₹581.60
Volume
4.9 L

Health check

4 fair · 2 to check
  • ReturnsIn line

    −7.6% over a year, better than 4 of 7 peers.

  • Price tagPricier

    P/E 98.7 vs industry 12.1.

  • GrowthSteady

    Sales +10.4%, profit +6.3% a year over 3 years.

  • ProfitabilityAverage

    ROCE 13.6% vs peer median 16.3%.

  • Balance sheetFair

    Debt 0.53× equity, interest covered 8.8×, Piotroski 4 of 9.

  • Red flags2 to check

    P/E of 98.7 against an industry P/E of 12.1.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Utilities - Regulated Gas

8 listed peers. Screen the industry

Mid cap

₹63,283 Cr, #2 of 9 in its industry by size.

Defensive

Beta 0.66 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹6,762 Cr · profit ₹642 Cr
Market cap
₹63,283 Cr
Mid cap
P/E
98.7
Industry 12.1
Price to book
12.19
Peers 1.74
Dividend yield
0.04%
ROE
13.3%
Peers 13.6%
ROCE
13.6%
Peers 16.3%
Debt to equity
0.53
Debt ₹2,742 Cr
EPS (TTM)
₹5.83
Face value ₹1
OPM (TTM)
17.8%
Net margin 9.5%
Sales growth
+33.9%
Latest quarter vs a year ago
Profit growth
+6.0%
Latest quarter vs a year ago
Price to sales
9.36
EV/EBITDA 55.1

Strengths and risks

Strengths

  • Quarterly sales up 33.9% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • P/E of 98.7 against an industry P/E of 12.1.
  • 33% below its 52-week high.

Derived automatically from reported figures. Not a recommendation.

About Adani Total Gas

Adani Total Gas Limited engages in the city gas distribution (CGD) business in India. It supplies piped natural gas and compressed natural gas to the domestic, commercial, industrial, and transportation sectors. The company also provides biogas, biofuel, biomass, LCNG, HCNG, EV, and hydrogen. In addition, it manufactures various equipment; and offers value-added services related to the CGD business. The company was formerly known as Adani Gas Limited and…

Headquarters
Ahmedabad
Employees
528
Sector
Utilities
ISIN
INE399L01023
Website
adanigas.com

Price range

52 weeks

₹462.80₹859.85

Today

₹567.15₹578.30
Avg volume (3M)
13.9 L
1-year return
minus 7.6%
From 52-week high
minus 33.1%

Peers · Utilities - Regulated Gas

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
GAILGAIL (India)185.79minus 0.11%1,22,1589.712.89.1%11.6%0.25−0.9%plus 2.4%
ATGLAdani Total Gas575.40minus 1.07%63,28398.754.813.6%17.8%0.5310.4%minus 7.6%
GUJENERGYGUJARAT ENERGY216.18minus 3.77%20,2839.25.512.2%12.7%0.1712.1%minus 44.8%
IGLIndraprastha Gas141.97plus 0.86%19,87619.98.316.3%6.4%0.014.6%minus 34.5%
MGLMahanagar Gas1,129.60plus 2.13%11,15816.97.016.5%14.0%0.039.3%minus 12.5%
STEAMHOUSESteamhouse India131.87minus 0.45%3,64564.647.319.6%15.8%0.5515.9%plus 28.6%
IRMENERGYIRM Energy240.95plus 1.53%98911.57.47.8%13.1%0.072.8%minus 23.7%
RAJSECRajasthan Securities60.11minus 0.32%4626.94.389.3%−45.5%––plus 37.1%
Median of 7 peers–−0.11%11,15811.57.416.3%12.7%0.127.0%−12.5%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
1,3791,5071,5571,7541,944
1,0851,2021,2561,4831,616
293305301270328
21.3%20.2%19.3%15.4%16.9%
12.311.724.322.622.4
27.640.634.939.136.5
55.662.463.466.771.7
222214227187242
25.7%25.8%25.8%24.2%28.3%
165159168142173
1.501.441.531.291.58

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+10.4%
Profit CAGR 3Y
+6.3%
EPS CAGR 3Y
+6.2%
ROE
13.3%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
4,3514,4464,9705,856
–+2.2%+11.8%+17.8%
3,4813,3413,8314,658
8701,1041,1391,198
20.0%24.8%22.9%20.5%
29.137.427.1−55
54.398.486.9113
113158204243
0.711−0.594.6
733896875882
25.4%25.5%25.2%25.6%
546668654656
–+22.1%minus 2.0%+0.2%
4.976.075.955.96

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
110110110110
2,8313,4704,0974,755
1,4221,5571,8342,853
1,2821,4541,6241,831
5,6456,5927,6659,549
3,9194,6285,4716,262
1,6161,4981,8652,001
–23.317.3609
52.2141322545
57.7301−11.4132
5,6456,5927,6659,549

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
8539559641,149
−1,167−752−933−1,236
295−77.756.4117
−19.112586.929
−1,175−799−941−988
−32315623161
−27.5−27.5−27.5−27.5

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 7.4% (Yahoo estimate).

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you