Adani Total Gas Ltd (ATGL) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.10%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 12.8%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 14.4%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹560.95

200-Day DMA ● Overlay

₹520.26

14-Day RSI ● Overlay

55.9 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹64,146 Cr

Large cap

Stock P/E (TTM) Valuation

101.0x

Price / EPS

Book Value (₹) Assets

₹44.2

P/B: 13.2x

ROE (%) Quality

14.4%

Net Profit / Equity

ROCE (%) Efficiency

15.3%

EBIT / Capital

Dividend Yield Yield

0.04%

Face Value: ₹10

Debt / Equity Solvency

0.46x

Manageable

EPS (TTM) Per Share

₹5.77

Trailing 12M

OPM (%) Spread

19.0%

EBITDA Margin

Free Cash Flow Cash

₹161.00 Cr

CFO - Capex

About Adani Total Gas Ltd

Adani Total Gas Ltd (ATGL) is an Indian publicly listed company operating in the Energy & Oil sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 13.7% × Turnover: 0.85x × Leverage: 1.46x = ROE: 14.4%

✓ Company Strengths (Pros)

• Delivers solid shareholder returns with an ROE of 14.4%.
• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 13.2x its book value.
• Commanding an elevated valuation multiple with P/E at 101.0x.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹6,269 Cr

Latest PAT

₹632.00 Cr

EPS (TTM)

₹5.77

OPM %

19.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹1,056 Cr	₹1,096 Cr	₹1,156 Cr	₹1,167 Cr	₹1,145 Cr	₹1,219 Cr	₹1,294 Cr	₹1,341 Cr	₹1,379 Cr	₹1,451 Cr	₹1,507 Cr	₹1,557 Cr	₹1,754 Cr
Operating Profit (EBITDA)	₹248.00 Cr	₹280.00 Cr	₹288.00 Cr	₹288.00 Cr	₹295.00 Cr	₹306.00 Cr	₹265.00 Cr	₹266.00 Cr	₹293.00 Cr	₹295.00 Cr	₹305.00 Cr	₹301.00 Cr	₹270.00 Cr
OPM %	23.0%	26.0%	25.0%	25.0%	26.0%	25.0%	20.0%	20.0%	21.0%	20.0%	20.0%	19.0%	15.0%
Interest Expense	₹24.00 Cr	₹27.00 Cr	₹31.00 Cr	₹29.00 Cr	₹26.00 Cr	₹23.00 Cr	₹27.00 Cr	₹24.00 Cr	₹28.00 Cr	₹26.00 Cr	₹41.00 Cr	₹35.00 Cr	₹39.00 Cr
Depreciation	₹33.00 Cr	₹38.00 Cr	₹39.00 Cr	₹49.00 Cr	₹46.00 Cr	₹51.00 Cr	₹53.00 Cr	₹53.00 Cr	₹56.00 Cr	₹62.00 Cr	₹62.00 Cr	₹63.00 Cr	₹67.00 Cr
Profit before Tax (PBT)	₹201.00 Cr	₹230.00 Cr	₹236.00 Cr	₹229.00 Cr	₹232.00 Cr	₹247.00 Cr	₹192.00 Cr	₹204.00 Cr	₹222.00 Cr	₹219.00 Cr	₹214.00 Cr	₹227.00 Cr	₹187.00 Cr
Net Profit (PAT)	₹150.00 Cr	₹173.00 Cr	₹177.00 Cr	₹168.00 Cr	₹172.00 Cr	₹186.00 Cr	₹142.00 Cr	₹155.00 Cr	₹165.00 Cr	₹163.00 Cr	₹159.00 Cr	₹168.00 Cr	₹142.00 Cr
EPS in ₹	₹1.37	₹1.57	₹1.61	₹1.53	₹1.56	₹1.69	₹1.29	₹1.41	₹1.50	₹1.49	₹1.44	₹1.53	₹1.29

Annual P&L (₹ Cr)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹1,374 Cr	₹1,719 Cr	₹1,875 Cr	₹1,696 Cr	₹3,038 Cr	₹4,378 Cr	₹4,475 Cr	₹5,000 Cr	₹5,894 Cr	₹6,269 Cr
Expenses	₹1,008 Cr	₹1,264 Cr	₹1,280 Cr	₹991.00 Cr	₹2,265 Cr	₹3,508 Cr	₹3,371 Cr	₹3,862 Cr	₹4,700 Cr	₹5,098 Cr
Operating Profit	₹366.00 Cr	₹455.00 Cr	₹595.00 Cr	₹704.00 Cr	₹773.00 Cr	₹870.00 Cr	₹1,104 Cr	₹1,137 Cr	₹1,195 Cr	₹1,172 Cr
OPM %	27%	26%	32%	42%	25%	20%	25%	23%	20%	19%
Interest	₹125.00 Cr	₹90.00 Cr	₹41.00 Cr	₹40.00 Cr	₹53.00 Cr	₹78.00 Cr	₹111.00 Cr	₹101.00 Cr	₹129.00 Cr	₹141.00 Cr
Depreciation	₹61.00 Cr	₹67.00 Cr	₹51.00 Cr	₹63.00 Cr	₹83.00 Cr	₹113.00 Cr	₹158.00 Cr	₹204.00 Cr	₹243.00 Cr	₹254.00 Cr
Profit before Tax	₹259.00 Cr	₹357.00 Cr	₹547.00 Cr	₹631.00 Cr	₹684.00 Cr	₹733.00 Cr	₹896.00 Cr	₹875.00 Cr	₹882.00 Cr	₹846.00 Cr
Net Profit	₹162.00 Cr	₹229.00 Cr	₹436.00 Cr	₹463.00 Cr	₹509.00 Cr	₹546.00 Cr	₹668.00 Cr	₹654.00 Cr	₹656.00 Cr	₹632.00 Cr
EPS in Rs	6.31	2.08	3.97	4.21	4.63	4.97	6.07	5.95	5.96	5.75

Balance Sheet (₹ Cr)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹257.00 Cr	₹110.00 Cr	₹110.00 Cr	₹110.00 Cr	₹110.00 Cr	₹110.00 Cr	₹110.00 Cr	₹110.00 Cr	₹110.00 Cr
Reserves & Surplus	₹759.00 Cr	₹992.00 Cr	₹1,361 Cr	₹1,824 Cr	₹2,306 Cr	₹2,831 Cr	₹3,470 Cr	₹4,097 Cr	₹4,755 Cr
Borrowings (Debt)	₹1,345 Cr	₹394.00 Cr	₹428.00 Cr	₹529.00 Cr	₹1,035 Cr	₹1,422 Cr	₹1,557 Cr	₹1,834 Cr	₹2,255 Cr
Total Liabilities	₹2,803 Cr	₹2,048 Cr	₹2,476 Cr	₹3,204 Cr	₹4,415 Cr	₹5,645 Cr	₹6,592 Cr	₹7,665 Cr	₹9,549 Cr
Fixed Assets	₹897.00 Cr	₹980.00 Cr	₹1,198 Cr	₹1,379 Cr	₹1,733 Cr	₹2,335 Cr	₹3,174 Cr	₹3,651 Cr	₹4,314 Cr
Total Assets	₹2,803 Cr	₹2,048 Cr	₹2,476 Cr	₹3,204 Cr	₹4,415 Cr	₹5,645 Cr	₹6,592 Cr	₹7,665 Cr	₹9,549 Cr

Cash Flows (₹ Cr)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹277.00 Cr	₹356.00 Cr	₹492.00 Cr	₹654.00 Cr	₹732.00 Cr	₹853.00 Cr	₹955.00 Cr	₹964.00 Cr	₹1,149 Cr
Cash from Investing (CFI)	-₹988.00 Cr	₹791.00 Cr	-₹461.00 Cr	-₹770.00 Cr	-₹1,133 Cr	-₹1,167 Cr	-₹752.00 Cr	-₹933.00 Cr	-₹1,236 Cr
Cash from Financing (CFF)	₹779.00 Cr	-₹1,077 Cr	-₹102.00 Cr	₹39.00 Cr	₹422.00 Cr	₹295.00 Cr	-₹78.00 Cr	₹56.00 Cr	₹116.00 Cr
Free Cash Flow (FCF)	₹137.00 Cr	₹115.00 Cr	₹51.00 Cr	₹47.00 Cr	-₹218.00 Cr	-₹323.00 Cr	₹156.00 Cr	₹23.00 Cr	₹161.00 Cr

Efficiency Ratios	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	38	18	12	22	22	26	33	31	26
Inventory Days	18	15	14	25	15	11	0	0	0
Cash Conversion Cycle (Days)	-2	-2	-2	-8	6	1	33	31	26
ROCE %	0%	24%	34%	31%	25%	21%	21%	17%	15%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹88.12 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹581.30

DCF Fair Value

₹88.12

Graham Number

₹75.75

Margin of Safety

-85.8%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹88.12

Premium / Overvalued (Margin: -85.8%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹86	₹85	₹84	₹83
10%	₹87	₹87	₹86	₹85
12%	₹89	₹88	₹87	₹87
14%	₹91	₹90	₹89	₹88

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹88	Fairly Valued
Benjamin Graham Number	₹76	Market Priced
Historical Sector P/E	₹127	Premium
EV / EBITDA Multiplier	₹610	In-Line
Free Cash Flow Yield Model	₹570	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

3.9 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.46x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 19.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

74.80%

FIIs (Foreign)

12.77%

DIIs (Domestic)

6.34%

Government

0.15%

Public / Retail

6.07%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 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 (Foreign Portfolio)	13.94%	13.06%	13.13%	12.96%	13.07%	13.06%	13.22%	13.02%	12.88%	12.81%	12.75%	12.77%
+ DIIs (Mutual Funds / Insurance)	6.15%	6.14%	6.12%	6.15%	6.13%	6.27%	6.23%	6.31%	6.23%	6.25%	6.26%	6.34%
+ Public (Retail & HNIs)	5.11%	5.98%	5.93%	6.08%	5.99%	5.85%	5.74%	5.87%	6.07%	6.14%	6.18%	6.07%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Energy & Oil.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

ATGL Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

ATGL Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

ATGL Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹744.06

Accelerated market share capture in Energy & Oil, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹651.06

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 101x P/E.

🐻 Bear Case (15%) -12.0%

₹511.54

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Energy & Oil)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:38 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Adani Total Gas Ltd (ATGL)	Target Stock	₹581.30	+1.10%	101.0x	14.4%	15.3%	0.46	₹64,146 Cr
Oil & Natural Gas Corporation Ltd (ONGC)	Oil & Gas Exploration & Production	₹234.80	+0.56%	6.4x	11.6%	14.2%	0.47	₹2.80 Lakh Cr
Indian Oil Corporation Ltd (IOC)	Petroleum Refining & Pipelines	₹148.38	+1.04%	5.5x	20.5%	18.7%	0.60	₹1.85 Lakh Cr
Bharat Petroleum Corporation Ltd (BPCL)	Refining & Fuel Retail	₹315.25	-0.24%	8.4x	28.8%	25.6%	0.54	₹1.30 Lakh Cr
GAIL (India) Ltd (GAIL)	Natural Gas Transmission & Marketing	₹189.90	+1.01%	12.0x	9.6%	10.7%	0.29	₹1.13 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:38:07 IST	✓ Live Sync
Financial Statements (10Y)	Adani Total Gas Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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Adani Total Gas Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Adani Total Gas Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Energy & Oil)

Metric Explainer

Stock DNA Methodology

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