Incorporated in 2005, Adani Total Gas Limited (ATGL) is a city gas distribution company. It is engaged in the development of gas distribution networks to supply piped natural gas to industrial, commercial, and domestic (residential) customers and compressed natural gas to the transport sector. The company has set up gas distribution networks in Ahmedabad and Vadodara in Gujarat, Faridabad in Haryana and Khurja in Uttar Pradesh.
Originally called Adani Gas Limited, the company was renamed to Adani Total Gas Limited in 2021.
French multinational Total Energies holds over 37.40% stake in the company whereas the Adani Group owns 37.40%. The remaining is divided among retail and institutional shareholders.
In 2017, Adani Enterprises transferred 100% of Adani Gas' equity to Adani Gas Holdings Limited, making it a wholly-owned subsidiary of the company. In 2019, according to the composite scheme of arrangement, the company ceased as a step-down subsidiary of Adani Enterprises Limited and as a subsidiary of Adani Gas Holdings Limited.
Adani Gas added 33 new CNG stations in FY 2019-20. The next year, the company entered into a joint venture with Indian Oil Corporation (IOC) to form Indian Oil-Adani Gas Pvt Ltd. The new entity was commissioned to develop city gas distribution projects across the country through a network of underground pipelines for the distribution of natural gas.
Adani Total Gas Limited acquired a 50% stake in Smart Meter Technologies Private Ltd, a manufacturer of ATGL acquired a 50% stake in a company that manufactures Smart & Mechanical Gas Meters with Automatic Meter Reading (AMR).
As of December 20, 2023, Adani Total Gas has a total of over 460 CNG stations across India after adding 126 new stations in FY 23. The company had connected over 7 lakh households, adding more than 1.24 lakh connections. The company's total steep pipeline network exceeds 10,888-inch kilometres.
In FY 2023, the company also commissioned its first compressed bio-gas station in Varanasi and 104 EV charging stations at 26 different locations across India.
Adani Total Gas has incorporated two wholly owned subsidiaries Adani TotalEnergies E-mobility Limited (ATEL) and Adani TotalEnergies Biomass Limited (ATBL).
The company’s market capitalisation stood at over ₹ 1.13 lakh crore As of December 18, 2023. Adani Total Gas share price has surged over 165% in the past three years.
Adani Total Gas Financial Highlights
- Revenue: Adani Total Gas reported revenue of ₹5,932.28 crore in FY26 vs ₹5,030.66 crore in FY25. It showed an increase of 17.92% on a yearly basis.
- Operating Profit: Adani Total Gas reported an operating profit of ₹881.89 crore in FY26 vs ₹874.83 crore in FY25. It showed an increase of 0.81% on a year-on-year basis.
- Net Profit: Adani Total Gas reported a net profit of ₹655.72 crore in FY26 vs ₹654.41 crore in FY25. It showed an increase of 0.20% on a yearly basis.
Adani Total Gas Quarterly Result Highlights
- Adani Total Gas reported revenue of ₹1,766.51 crore in Jun 2026, compared with ₹1,569.28 crore in Mar 2026, representing an increase of 12.57% on a quarter-on-quarter (QoQ) basis.
- Adani Total Gas reported an operating profit of ₹186.90 crore in Jun 2026, compared with ₹226.92 crore in Mar 2026, representing a decrease of 17.64% on a quarter-on-quarter (QoQ) basis.
- Adani Total Gas reported a profit of ₹141.72 crore in Jun 2026, compared with ₹168.34 crore in Mar 2026, reflecting a decrease of 15.81% on a QoQ basis.
- The earnings per share (EPS) of Adani Total Gas stood at ₹5.96 during Jun 2026.
