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ATGL - Adani Total Gas

📊 NSE: ATGL 🏢 Miscellaneous 📅 Last Updated: 12/13/2025 17:51

📢 Recent Corporate Announcements

Adani Total Gas Releases Q4 and FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 28 Apr 2026, 07:43 PM

Adani Total Gas Limited (ATGL) has released the audio recording of its analyst and investor call held on April 28, 2026. The call focused on the audited standalone and consolidated financial results for the quarter and fiscal year ended March 31, 2026. This disclosure provides transparency regarding management's discussion on the company's annual performance. Investors can access the recording via the company's official website to hear direct commentary on business operations.

Audio recording of the Q4 and FY26 earnings call is now available for public access.
The call was held on April 28, 2026, following the release of audited financial results.
Covers management discussion on both standalone and consolidated performance for the full fiscal year.
The link is hosted on the official Adani Total Gas investor relations portal.

💡 Investors should listen to the recording to understand management's outlook on volume growth and margin sustainability. No immediate action is required as this is a routine regulatory filing.

Adani Total Gas FY26 Revenue Up 18% to ₹6,415 Cr; CNG Volumes Grow 18% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 27 Apr 2026, 07:46 PM

Adani Total Gas Limited (ATGL) reported a robust 18% YoY increase in standalone revenue to ₹6,415 crore for FY26, supported by a 14% growth in total sales volumes. While EBITDA grew 5% to ₹1,225 crore for the full year, the company faced margin pressure due to reduced APM gas allocation (down to 36%) and higher procurement costs. Infrastructure expansion remained aggressive, with the CNG network reaching 705 stations and EV charging points scaling to 5,100. Consolidated PAT for Q4 FY26 showed resilience, growing 9% YoY to ₹168 crore despite geopolitical volatility.

Total sales volume increased 14% YoY to 1,133 MMSCM, driven by an 18% surge in CNG volumes.
Standalone FY26 Revenue rose 18% to ₹6,415 Cr, while Q4 EBITDA grew 13% YoY to ₹310 Cr.
Infrastructure reached 705 CNG stations and ~1.1 million PNG home connections by year-end.
Adani TotalEnergies E-mobility expanded to 5,100 EV charging points across 226 cities.
Cost of natural gas rose 18% in Q4 due to lower APM allocation and higher spot prices from geopolitical tensions.

💡 Investors should focus on ATGL's volume growth trajectory and its ability to pass on higher gas costs as APM allocations decline. The rapid scaling of the EV charging and biomass segments offers significant long-term diversification potential beyond traditional gas distribution.

Adani Total Gas Recommends ₹0.25 Dividend; Sets June 12 as Record Date

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 27 Apr 2026, 07:13 PM

Adani Total Gas Limited has recommended a final dividend of ₹0.25 per equity share for the financial year 2025-26. The company has established June 12, 2026, as the record date to identify eligible shareholders for the payout. This announcement coincides with the board's approval of the audited financial results for the fiscal year ending March 31, 2026. The dividend payment is scheduled to begin on or after June 26, 2026, following approval at the Annual General Meeting.

Recommended a final dividend of ₹0.25 per equity share (25% of face value).
Fixed June 12, 2026, as the Record Date for dividend eligibility.
The 21st Annual General Meeting (AGM) is set for June 25, 2026.
Dividend payout to commence on or after June 26, 2026, subject to shareholder approval.

💡 Investors interested in the dividend should ensure they hold the stock before the ex-dividend date. Long-term investors should review the full FY26 audited results for operational performance metrics.

Adani Total Gas Recommends 25% Final Dividend of Rs 0.25 Per Share for FY 2025-26

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 27 Apr 2026, 07:00 PM

The Board of Adani Total Gas Limited has recommended a final dividend of Rs 0.25 per equity share (25% of face value) for the financial year ended March 31, 2026. The company has fixed June 12, 2026, as the record date to determine shareholder eligibility for this payout. This recommendation follows the approval of the company's audited financial results for the full year, which received an unmodified audit opinion from statutory auditors. The dividend is subject to shareholder approval at the upcoming Annual General Meeting scheduled for June 25, 2026.

Recommended a final dividend of Rs 0.25 per equity share of face value Rs 1 (25% payout)
Fixed June 12, 2026, as the record date for determining dividend entitlement
The 21st Annual General Meeting (AGM) is scheduled for June 25, 2026
Statutory auditors issued an unmodified opinion on the FY26 financial results
Dividend payment is expected to commence on or after June 26, 2026, post-AGM approval

💡 Investors should ensure they hold shares by the record date of June 12, 2026, to be eligible for the dividend. While the absolute dividend amount is small, the unmodified audit report confirms the reliability of the reported financial performance.

Adani Total Gas Achieves Top 'Care Edge – ESG 1+' Rating with 83.3 Score

🟢 POSITIVE ⭐ 6/10

OTHER 📅 13 Apr 2026, 07:31 PM

Adani Total Gas Limited (ATGL) has been assigned the highest ESG rating of 'Care Edge – ESG 1+' by CARE ESG Ratings Limited. The company achieved a score of 83.3, placing it in a leadership position for managing Environmental, Social, and Governance risks. This rating highlights the company's best-in-class disclosures and robust policy framework. For investors, this high score enhances the company's profile for ESG-focused institutional funds and potentially lowers the cost of future capital.

Assigned 'Care Edge – ESG 1+' rating, the highest tier for ESG risk management
Achieved a high ESG score of 83.3 out of 100
Recognized for leadership in best-in-class disclosures, policies, and performance
Disclosure made in compliance with SEBI Listing Regulations and Master Circulars

💡 Investors should consider this a positive development for long-term sustainability and institutional appeal. Monitor if this rating leads to increased weightage in ESG-themed indices or funds.

Adani Total Gas Clarifies Significant Trading Volume Spurt as Market Driven

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 08 Apr 2026, 07:55 PM

Adani Total Gas Limited (ATGL) has responded to a clarification request from the National Stock Exchange regarding a significant increase in its trading volume on April 8, 2026. The company stated that the volume spurt is purely market-driven and influenced by prevailing market conditions rather than any undisclosed internal developments. Management clarified they have no control over or specific knowledge regarding the reasons for this increase. The company reaffirmed its commitment to making all necessary disclosures under SEBI Regulation 30.

NSE issued a surveillance query (Ref No. NSE/CM/Surveillance/16675) regarding volume spurt on April 8, 2026
ATGL management stated the volume increase is purely due to market conditions and is absolutely market driven
Company confirmed it has no undisclosed information that could impact trading volumes
ATGL reaffirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015

💡 Investors should view this as a routine regulatory clarification and avoid speculative trading based solely on volume spurts. Focus on the company's fundamental performance and official material disclosures for long-term decision making.

Adani Total Gas Updates Contact Details of KMPs for Materiality Disclosures

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Mar 2026, 07:58 PM

Adani Total Gas Limited (ATGL) has provided updated contact information for its Key Managerial Personnel (KMP) in compliance with SEBI Regulation 30(5). The authorized personnel for determining the materiality of events include the CEO, Interim CFO, and Company Secretary. This administrative update ensures that the company maintains proper channels for regulatory disclosures to the stock exchanges. There is no change to the company's business operations or financial standing resulting from this announcement.

Updated contact details for three Key Managerial Personnel (KMP) as per SEBI Listing Obligations.
Authorized KMPs include Mr. Suresh Manglani (CEO), Mr. Preyash Jhaveri (Interim CFO), and Mr. Anil Agrawal (CS).
The central contact number for these disclosures is 079-66243200 with the email investor.agl@adani.com.
The disclosure was filed with both BSE and NSE on March 30, 2026.

💡 No action is required as this is a routine administrative filing. Investors should continue to monitor the company for operational and financial performance updates.

Adani Total Gas to Close Trading Window from April 1, 2026, for Q4 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Mar 2026, 01:48 PM

Adani Total Gas Limited (ATGL) has announced the closure of its trading window for all designated persons starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the upcoming financial results. The window will remain closed until 48 hours after the company announces its audited financial results for the quarter and full year ending March 31, 2026. This is a standard regulatory procedure for listed companies in India to prevent insider trading during sensitive periods.

Trading window closure effective from April 1, 2026.
Closure is related to the Audited Financial Results for the quarter and year ending March 31, 2026.
The window will reopen 48 hours after the results are officially declared.
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine regulatory filing and requires no immediate action from retail investors. Investors should look forward to the Q4 FY26 earnings announcement for insights into the company's financial performance.

Adani Total Gas Clarifies Recent Stock Price Movement as Market-Driven

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Mar 2026, 09:04 PM

Adani Total Gas Limited (ATGL) has responded to clarification requests from both BSE and NSE regarding significant movement in its stock price on March 13, 2026. The company stated that the price fluctuations are purely market-driven and influenced by prevailing market conditions. Management clarified they have no control over the price movement and are unaware of any specific undisclosed information that could be causing it. The company reaffirmed its commitment to making all necessary disclosures under SEBI Regulation 30.

BSE and NSE issued surveillance inquiries to ATGL on March 13, 2026, regarding price volatility.
Company confirms that price movement is 100% market-driven with no internal catalysts.
Management states they have no knowledge of specific reasons for the recent significant price change.
ATGL maintains full compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) 2015.

💡 As the company has confirmed no undisclosed material events, investors should treat the recent volatility as market-driven and focus on long-term fundamentals. No immediate action is required based on this routine regulatory clarification.

ATGL Reports Gas Supply Disruptions; Govt Issues Priority Order for CNG and Domestic PNG

🔵 WATCH ⭐ 8/10

REGULATORY 📅 11 Mar 2026, 01:11 PM

Adani Total Gas Limited (ATGL) has reported gas supply curtailments from its suppliers due to escalating geopolitical tensions in the Middle East and disruptions in the Strait of Hormuz. In response, the Ministry of Petroleum and Natural Gas has issued the Natural Gas (Supply Regulation) Order, 2026, to prioritize essential sectors. While Domestic PNG and CNG for transport will receive 100% of their 6-month average consumption, industrial and commercial customers are capped at 80%. ATGL is currently assessing the impact on its industrial segment, which is facing supply reductions.

Geopolitical conflict in the Middle East has led to force majeure by LNG suppliers, impacting ATGL's industrial supply.
New government order mandates 100% priority supply for Domestic PNG and CNG for transport based on 6-month averages.
Industrial and Commercial consumers in CGD networks will see gas supply limited to 80% of their 6-month average.
Fertilizer plants are allocated 70% of their past 6-month average gas consumption to manage the shortage.
A pooled pricing mechanism will be notified by PPAC for natural gas diverted from non-priority sectors like petrochemicals.

💡 Investors should monitor the duration of the Middle East conflict as a prolonged 20% supply cap on industrial customers could hurt volume growth and margins. Keep a close watch on the 'pooled price' notifications which will determine the cost of diverted gas for ATGL.

Adani Total Gas Re-appoints Suresh P Manglani as Executive Director for 1 Year

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Feb 2026, 03:15 PM

Adani Total Gas Limited (ATGL) has approved the re-appointment of Mr. Suresh P Manglani as a Whole-time Director, designated as Executive Director, for a one-year term starting February 9, 2026. Mr. Manglani has been with the company since 2018 and brings over 30 years of experience in the oil and gas industry, including roles at GAIL and Reliance Industries. The decision, recommended by the Nomination & Remuneration Committee, ensures leadership continuity for the company's city gas distribution operations. The appointment remains subject to the final approval of the company's shareholders.

Re-appointment of Suresh P Manglani as Executive Director for a 1-year term effective February 9, 2026
Mr. Manglani has over 30 years of experience in the oil and gas sector, including 17 years in CGD businesses
He previously served in senior leadership roles at GAIL, Mahanagar Gas, and Reliance Industries
The board meeting approving the appointment concluded on February 7, 2026, at 2:50 p.m.

💡 This is a routine management continuity move that provides stability to the leadership team. Investors should view this as a neutral development with no immediate impact on the stock's fundamentals.

ATGL Q3 FY26: Revenue Rises 17% to ₹1,631 Cr; CNG Volume Growth Strong at 17%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 30 Jan 2026, 12:03 PM

Adani Total Gas reported a robust 17% YoY increase in Q3 FY26 revenue to ₹1,631 crores, driven by an 18% growth in CNG volumes over the nine-month period. EBITDA for the quarter rose 15% to ₹313 crores, although nine-month PAT saw a marginal 3% decline to ₹481 crores due to specific cost impacts. The company expanded its infrastructure significantly, reaching 680 CNG stations and 1.05 million domestic PNG connections. Regulatory shifts, including a simplified two-zone transmission tariff, are expected to improve cost frameworks and affordability for consumers.

Revenue from operations grew 17% YoY to ₹1,631 crores in Q3 FY26.
CNG volumes increased by 17% YoY in Q3 and 18% for the nine-month period.
Network expanded to 680 CNG stations and 1.05 million domestic PNG connections.
E-mobility segment reached nearly 5,000 charge points across 226 cities.
S&P Dow Jones Sustainability Index score improved to 72, ranking 9th globally in gas utilities.

💡 Investors should monitor the impact of the new 2-zone transmission tariff on margins and the continued rapid scaling of the EV charging network. The strong volume growth in CNG suggests high market penetration, making it a solid long-term play in the energy transition space.

Adani Total Gas Clarifies on US Legal Summons Media Reports

🔵 WATCH ⭐ 7/10

LEGAL 📅 24 Jan 2026, 12:02 AM

Adani Total Gas Limited (ATGL) has responded to stock exchange queries regarding media reports about US regulators seeking to serve legal summons to Gautam and Sagar Adani. The company clarified that it is not a party to these legal proceedings and no allegations have been made against the company itself. ATGL maintains that the news does not trigger any mandatory disclosure requirements under SEBI Regulation 30. This response follows a similar clarification provided by the company previously on November 21, 2024.

ATGL clarified it is not a party to the US legal proceedings mentioned in media reports dated January 23, 2026.
The company stated that no allegations have been made against Adani Total Gas Limited specifically.
Management confirmed that the news item does not trigger disclosure requirements under SEBI Listing Regulations.
The response refers back to a previous clarification issued on November 21, 2024, regarding similar matters.

💡 Investors should monitor the broader legal developments involving the Adani Group promoters in the US, as these can impact sentiment and stock volatility. Since the company itself is not directly involved, the fundamental impact remains limited for now.

Adani Total Gas Submits Q3 FY26 Investor Call Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Jan 2026, 09:19 PM

Adani Total Gas Limited (ATGL) has released the audio recording of its analyst and investor call held on January 23, 2026. The call focused on the company's standalone and consolidated unaudited financial results for the third quarter and nine months ended December 31, 2025. This disclosure is a standard regulatory requirement to ensure transparency for all shareholders. Investors can access the recording via the company's website to hear management's detailed commentary on operational performance.

Audio recording of the Q3 FY26 earnings call is now available for public access.
The call pertains to financial results for the quarter and nine months ended December 31, 2025.
The investor meeting was conducted on January 23, 2026, following the results announcement.
The recording provides insights into management's perspective on the company's growth and market conditions.

💡 Investors should listen to the recording to understand management's guidance on volume growth and margin sustainability. No immediate action is required as this is a routine compliance filing.

Adani Total Gas Shareholders Approve K Jairaj as Independent Director with 99.85% Majority

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 23 Jan 2026, 08:40 PM

Adani Total Gas Limited (ATGL) has successfully passed a special resolution for the appointment of Mr. K Jairaj as an Independent Director (Non-Executive). The resolution, conducted via postal ballot, received overwhelming support with 99.85% of the total votes cast in favor. A total of 90.60 crore valid votes were polled, representing approximately 82.38% of the company's paid-up equity capital. This appointment is part of the company's ongoing commitment to corporate governance and board independence.

Special resolution for the appointment of Mr. K Jairaj passed with a 99.85% majority of votes cast.
Total valid votes polled were 90,60,53,599, covering 82.38% of the total paid-up equity capital.
Promoter and Promoter Group voted 100% in favor of the resolution with 82.26 crore votes.
Public Institutional investors supported the move with 98.40% of their votes cast in favor.
The voting process was conducted via electronic means from December 25, 2025, to January 23, 2026.

💡 This is a routine governance update and requires no immediate action from investors. The high approval rate reflects strong shareholder confidence in the company's board-level decisions.

View All ATGL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew 11.5% YoY to INR 4,986.1 Cr in FY25 from INR 4,471.7 Cr in FY24. Q1FY26 revenue reached INR 1,498 Cr, a 20.9% increase YoY. Volume growth is the primary driver, with a CAGR of 18% from FY21 to FY25, reaching 993-1,000 MMSCM.

Geographic Revenue Split

Highly concentrated with 4 matured Geographical Areas (GAs) contributing ~70% of total sales volume in FY25. The Ahmedabad GA alone accounts for ~38% of total sales volume.

Profitability Margins

Operating margins are among the highest in the industry but showing compression. PAT margin stood at 13.06% in FY25 (INR 648-653 Cr) compared to 14.6% in FY24. The drop is attributed to lower APM gas allocations and higher reliance on costlier RLNG.

EBITDA Margin

PBILDT margin was 22.80% in FY25, down 245 basis points from 24.68% in FY24. Q1FY26 margins further compressed to 19.50% due to reduced domestic gas allocation. EBITDA per SCM is approximately INR 10.

Capital Expenditure

Planned capex of INR 8,000-9,000 Cr over the next 5-6 years starting FY26. Specific near-term outlays include INR 1,000 Cr for FY26 and INR 1,400-1,500 Cr for FY27 to develop 34 GAs.

Credit Rating & Borrowing

Maintains a strong credit profile with ratings from CRISIL (Stable), CARE, and ICRA. Interest coverage ratio improved to 11.3x in FY25 from 9.92x in FY24. Gearing remains low at 0.42x to 0.44x.

⚙️ Operational Drivers

Raw Materials

Natural Gas, specifically Administered Pricing Mechanism (APM) gas (46% of total requirement), Regasified Liquefied Natural Gas (RLNG), and High Pressure High Temperature (HPHT) gas.

Import Sources

Sourced domestically from Indian gas fields (APM/HPHT) and imported as RLNG from global markets through long-term contracts to minimize spot price volatility.

Key Suppliers

GAIL India Limited (supplies APM and NWG gas) and Reliance Industries Limited (supplies HPHT gas). RLNG is procured from multiple suppliers under long-term contracts.

Capacity Expansion

Currently operates in 34 GAs with 647-650 CNG stations and ~9.72-9.9 lakh PNG domestic connections. Expansion plans target the full operationalization of 29 new GAs won in the 9th, 10th, and 11th bidding rounds.

Raw Material Costs

Raw material mix shifted significantly; APM gas sourcing dropped to 46% in FY25 from 58% in FY24. This 12% shift toward costlier RLNG and HPHT gas increases the weighted average cost of gas.

Manufacturing Efficiency

Operational efficiency is driven by high scale and a strategic mix of 67% CNG (high margin) and 33% PNG sales.

Logistics & Distribution

Distribution is managed through a 25-year infrastructure exclusivity period for its city gas carrier networks, preventing competition from laying parallel infrastructure.

📈 Strategic Growth

Expected Growth Rate

10-15%

Growth Strategy

Execution of the Minimum Work Programme (MWP) across 29 new GAs. The company is leveraging its 50:50 JV with Indian Oil (IOAGPL) to access an additional 19 GAs. Growth is driven by increasing penetration in newer regions and the modular nature of capex where revenue starts shortly after infrastructure is laid.

Products & Services

Compressed Natural Gas (CNG) for vehicles, Piped Natural Gas (PNG) for domestic households, and PNG for industrial and commercial consumers.

Brand Portfolio

Adani Total Gas (ATGL), Indian Oil Adani Gas Private Limited (IOAGPL - Joint Venture).

New Products/Services

Expansion into newer GAs from the 11th bidding round is expected to contribute the majority of incremental volume growth in FY26.

Market Expansion

Targeting 34 GAs across 13 states including Gujarat, Rajasthan, Haryana, and Maharashtra. Expansion is focused on the 14 GAs won in the 11th round.

Market Share & Ranking

Ranked as the 5th largest CGD player in India by volume.

Strategic Alliances

Strategic 50:50 Joint Venture with Indian Oil Corporation Limited (IOCL) and a partnership between the Adani Family (37.4%) and TotalEnergies (37.4%).

🌍 External Factors

Industry Trends

The industry is shifting toward cleaner fuels; however, increasing EV penetration (target 30% by sales) poses a long-term threat to the CNG segment which currently drives 67-70% of ATGL's volume.

Competitive Landscape

Key competition arises from alternative fuels (petrol, diesel, LPG) and the potential entry of new players after marketing exclusivity periods expire.

Competitive Moat

Strong moat through 8-year marketing exclusivity and 25-year infrastructure exclusivity in authorized GAs. This creates a legal monopoly for the duration of the exclusivity period.

Macro Economic Sensitivity

Sensitive to Government of India policy to increase natural gas share in the energy basket from 6% to 15% by 2030.

Consumer Behavior

Shift toward environmentally cleaner fuels is driving a 15% YoY growth in gas sales volumes.

Geopolitical Risks

Global LNG price volatility due to geopolitical tensions affects the 54% of gas requirements met through RLNG and HPHT sources.

⚖️ Regulatory & Governance

Industry Regulations

Regulated by the Petroleum and Natural Gas Regulatory Board (PNGRB). Must meet Minimum Work Programme (MWP) targets for pipeline length and CNG stations or face penalties and performance guarantee encashment.

Environmental Compliance

Low environmental risk as natural gas is a cleaner fuel. ATGL has implemented water conservation and solar energy adoption across sites.

Taxation Policy Impact

Not specifically detailed beyond standard corporate rates; however, the company benefits from favorable government impetus on cleaner fuels.

Legal Contingencies

Potential penalties for delays in MWP targets across new GAs. Specific case values for pending litigation were not disclosed in the provided documents.