Arthneeti

Adani Total Gas Q2 FY27 Share Price & Earnings Call Analysis

₹534.45-2.22% today
Market cap
₹58,744 Cr
P/E
96.66
ROE
14.06%
PEG
15.68
Price to sales
9.42
Debt to equity
0.47
52W high / low
₹809 / ₹468
Sales growth (5Y)
28.16%
EBITDA margin
18.66%
Net profit margin
10.80%
Promoter holding
74.80%
Sales (last year)
₹6,235 Cr

Guidance scorecard · Q2 FY27 call

What Adani Total Gas Ltd's management guided

Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Volume growth is expected to continue in a similar manner as current trends (Q1 FY27 showed 13% YoY growth in gas sales volume).
  • Continuous expansion of CNG, PNG, and industrial networks supports sustained growth.
  • Target to maintain the current rate of adding PNG connections, with exploration of new business models like reticulated systems to accelerate numbers.
  • Infrastructure expansion includes adding CNG stations and household connections (38,000 new domestic customers added in Q1).
  • Government support facilitates easier pipeline laying and permissions, aiding volume growth.
  • Increasing demand from light commercial vehicles and passenger vehicles is expected to sustain double-digit growth in CNG segment.

2 more points from Adani Total Gas Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Adani Total Gas Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Adani Total Gas Limited has planned a slightly higher capex budget for pipeline laying compared to the previous year, focusing on areas with evident growth.
  • A dedicated task force is working to increase domestic PNG connections owing to government push.
  • They are exploring multiple business models, including reticulated systems and LPG systems, to accelerate PNG connection growth.
  • Investments continue in expanding the CNG infrastructure, with new stations being added to support volume growth.

2 more points from Adani Total Gas Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Adani Total Gas Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Expansion of pipeline network to 15,987-inch kilometers supporting future growth.
  • Addition of 38,000 new household PNG connections and a total customer base growing steadily.
  • Increase in CNG stations by 5 new additions, totaling 707 stations.
  • Significant growth in industrial and commercial customers (3x and 2x year-on-year, respectively).

2 more points from Adani Total Gas Ltd's call on the order book

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Full Q1 FY27 analysis

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

This quarter's potential multibaggers
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Adani Total Gas Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Financials of Adani Total Gas Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Adani Total Gas Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%
FIIs +13.06%13.13%12.96%13.07%13.06%13.22%13.02%12.88%12.81%12.75%12.77%12.84%
DIIs +6.14%6.12%6.15%6.13%6.27%6.23%6.31%6.23%6.25%6.26%6.34%6.38%
Public +5.98%5.93%6.08%5.99%5.85%5.74%5.87%6.07%6.14%6.18%6.07%5.97%
No. of Shareholders6,53,4176,31,0226,55,6436,25,8996,43,0396,41,0916,32,8426,34,5396,18,1196,36,1495,96,7585,77,207

Pros & Cons

Adani Total Gas Ltd

Key positives and risks surfaced from the company insights section.

Pros
  • Stock is trading at 11.5 times its book value
  • Dividend payout has been low at 4.26% of profits over last 3 years
Raw Insights
  • Stock is trading at 11.5 times its book value
  • Dividend payout has been low at 4.26% of profits over last 3 years

Financials of Adani Total Gas Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,0951,1551,1661,1441,2161,2911,3361,3721,4441,4991,5491,7431,936
Expenses +8158678778479091,0261,0711,0801,1511,1961,2491,4761,610
Operating Profit279288289296307264265292293303299268326
OPM %26%25%25%26%25%20%20%21%20%20%19%15%17%
Other Income +10131612689999101314
Interest27312926232724282641353936
Depreciation37384945505252545960606468
Profit before tax225231227237240193198219217212214178235
Tax %25%26%27%25%26%26%25%26%26%26%27%25%29%
Net Profit +168172165177178143149162162157156133167
EPS in Rs1.531.571.501.611.621.301.361.471.471.431.421.211.52

Financials of Adani Total Gas Ltd

Profit & Loss

Annual income statement trend

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,1291,0871,3741,7191,8751,6963,0384,3784,4724,9865,8646,728
Expenses +9218091,0081,2641,2809912,2653,5083,3683,8494,6755,532
Operating Profit2082783664555957047738701,1041,1371,1881,196
OPM %18%26%27%26%32%42%25%20%25%23%20%18%
Other Income +26-2280594430423747303747
Interest43441259041405379111100129151
Depreciation52566167516383113157198233252
Profit before tax138156259357547631679716882868863840
Tax %41%35%36%36%20%25%26%26%26%25%26%
Net Profit +81101165229436472505530653648637613
EPS in Rs3.173.946.412.083.974.294.594.825.945.895.795.58
Dividend Payout %54%0%0%12%6%6%5%5%4%4%4%

Financials of Adani Total Gas Ltd

Balance Sheet

Capital structure and asset base

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital257257257110110110110110110110110110
Reserves3574587691,0021,3701,8422,3202,8283,4534,0754,7145,011
Borrowings +4755491,3453944285291,0351,4201,5551,8312,2522,423
Other Liabilities +3453964425525777419641,2781,4061,5832,3682,474
Total Liabilities1,4341,6602,8122,0582,4863,2224,4295,6366,5247,5999,44410,018
Fixed Assets +7578328979801,1981,3791,7332,3293,0903,5154,1024,402
CWIP157871021903426961,1711,6121,4761,8031,9191,979
Investments49911891862914366486837049931,9282,072
Other Assets +4716511,6247016557118781,0131,2541,2881,4951,564
Total Assets1,4341,6602,8122,0582,4863,2224,4295,6366,5247,5999,44410,018

Financials of Adani Total Gas Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +2552582773564926547328469719801,150
Cash from Investing Activity +-413-303-988791-461-770-1,133-1,163-769-956-1,231
Cash from Financing Activity +3950779-1,077-10239422295-7758117
Net Cash Flow-11856870-71-7821-221248336
Free Cash Flow1681341371155147-218-312227145247
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit141%110%100%105%105%112%114%115%105%101%111%

Financials of Adani Total Gas Ltd

Ratios

Working capital efficiency and return ratios

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1319381812222226333126
Inventory Days1921191514251511
Days Payable2228633528553136
Cash Conversion Cycle1011-6-2-2-861333126
Working Capital Days-995525-24-128-137-142-98-65-97
ROCE %22%21%24%34%31%25%20%21%17%15%

Guidance history

How Adani Total Gas Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

17out of 100

Momentum score · price trend

17 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−16.3%43%
Last 6 months−15.8%28%
Last 3 months−18.0%26%

The price is 86.4% below its all-time high of ₹3,918.9 (20 Jan 2023). Stocks more than 20% below their peak have their score halved, so 34 became 17.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Adani Total Gas Ltd: 0.4 × 43 + 0.4 × 28 + 0.2 × 26 = 34, halved to 17 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What Adani Total Gas Ltd's management said in earlier quarters