AnnouncementSep 2026
Sep 2026 · Announcement Under Regulation 30 (LODR) - Update 22 Sep - SEBI settlement order on September 22, 2026; company to pay INR 9.75 lakh.
Source: Bse
Adani Total Gas Limited (ATGL)
Mid CapEnergy stocks · Mid cap · NSE
Adani Total Gas Limited operates in City Gas Distribution, within the Energy sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals15 Oct 2026 · screener
Latest result21 Jul, 08:46 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Energy P/E 11.4 (n=18)
Technical timing lens
Trend score and candlestick chart
35BearishSMA20 -4.6% / mo · MACD + · sector -3.5pp vs Nifty 500 (3M)
Stock trend: 38
Sector RS: 31
Sector 3M: -9.1% vs Nifty 500 -5.6%
Energy FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ATGLD candles · FIT view-8.5%Latest close ₹573.65 on 2026-10-19
Bar
-0.9%
RSI
41
MACD hist
0.96
52W pos
28%
2026-10-19O ₹579.10H ₹582.25L ₹572.15C ₹573.65Vol 3.3L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ATGLNifty EnergyNifty 500
- ATGL
- -19.5%
- Nifty 500
- -5.6%
- Nifty Energy
- -9.3%
- Vs Nifty 500
- -14.0 pp
Chart stats
19 Oct 2026- From 52W high
- -33.3%
- 52W range position
- 28%
- ATR (14)
- 2.7%
- Volume vs 20D
- 0.12x
- Avg traded value
- ₹45.3 Cr
- 20D price channel
- ₹560 - ₹659.1
₹859.9
₹462.8 - ₹859.9
₹15.6
Latest completed session
20-session average
24.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST36
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +27.2% · PAT -13.9% YoY
Technical
Bearish35
Price trend and sector-relative-strength timing.
Valuation
Legacy model-508.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence72
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 2/100PAT -14% YoY · margin compression · Rev +27% YoY · +13% QoQ
Filed 21 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,754 Cr | +27.2% | +12.7% |
| EBITDA | ₹270 Cr | -7.8% | -10.3% |
| Operating margin | 15.0% | -600 bps | -400 bps |
| PAT | ₹142 Cr | -13.9% | -15.5% |
| PAT margin | 8.1% | -387 bps | -269 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 101.00
- P/B
- 13.17
- EV/EBITDA
- 46.44
- Market Cap
- 63965.00Cr
Profitability
- ROE
- 14.40%
- ROCE
- 15.30%
- ROA
- 6.62%
- Dividend Y
- 0.04%
Growth (CAGR)
- Revenue 5Y
- 28.00%
- EPS 5Y
- 7.00%
- Revenue 3Y
- 10.00%
- EPS 3Y
- 6.00%
Balance Sheet
- Debt/Equity
- 0.46
- Interest Coverage
- 8.31×
- Altman Z
- 7.94
- Book Value
- 44.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- 1149.00 Cr
- EPS TTM
- 5.75
Shareholding
- Promoter Hold
- 74.80%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 32%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 5,894+17.9% vs prev
Net Profit
₹ CrLatest: 656+0.3% vs prev
Return on Equity
%Latest: 13.5-13.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 41. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~4.8% over last month) — short-term momentum negative.
- RSI(14) at 41 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 33% off 52W high · 24% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
44
RS percentile
Stage 1 Base / Transition
1M return
-13.2%
3M return
-19.5%
6M return
-8.8%
1Y return
-7.6%
RS 1D
-1
RS 20D
-18
Sector rank
#6
Industry rank
#7
Stage evidence
- Price is 10.7% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed +1.5% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 91.05+0.04%
RS vs Nifty 50091
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth10/25
Quality8/20
Balance Sheet9/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
36
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
36/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 9/15 to the score.
- Growth contributes 10/25 to the score.
Main drags
- Fair-value margin of safety is negative at -508.4%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Growth is weaker at 10/25; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
101.0
PB
13.2
EV/EBITDA
46.4
ROE
14.4%
ROCE
15.3%
FCF Yield
—
Debt/Equity
0.5
MoS
-508.4%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
36
Previous: 36
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-508.4%
Previous: -508.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
36
36
36
36
36
36
36
36
36
36
36
36
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹75.62
-658.6% MoS
Growth-justified P/E
16.4
Growth-justified Value
₹94.3
-508.4% MoS
PEG
15.30
Comparable companies
Peers
Business-comparable peers in Energy — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GAIL
Large
GAIL (India) Limited
Oil & Gas
match 60
46
11.1
8.7%
-2%
FAIR VALUE
AEGISVOPAK
Large
Aegis Vopak Terminals Limited
Oil & Gas
match 58
26
115.0
11.0%
-430%
OVERVALUED
CASTROLIND
Small
Castrol India Limited
Oil & Gas
match 55
64
18.0
45.9%
+11%
UNDERVALUED
RELIANCE
Large
Reliance Industries Limited
Oil & Gas
match 50
33
21.3
8.9%
-6%
WATCHLIST
ONGC
Large
Oil & Natural Gas Corporation Limited
Oil & Gas
match 47
75
6.5
11.6%
+62%
DEEP VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Adani Total Gas Limited operates in City Gas Distribution, within the Energy sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
72Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 69th percentile of the scored universe and 42nd percentile within Energy. Main check: financial discipline is weak at 50/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
39 docs text-extracted · 16 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
69th percentile
overall median 67 · Energy: 42nd pctile, median 73 · Mid: 40th pctile, median 76
Evidence depth
Financial-only
39 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
50
watch · capital discipline
Results
67
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 74.8%.
- ▸Promoter pledge is zero.
- ▸4 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸ROCE trend is -2.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Adani Total Gas Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 3 Sep - Adani Total Gas appoints Mr. Preyash Jhaveri as CFO effective September 3, 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Aug - Adani Total Gas will meet investors at Motilal Oswal 2026 Conference in Mumbai on August 19, 2026.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 7 Aug - ICRA reaffirmed Adani Total Gas long-term AA+ and short-term A1+ ratings, both with stable outlook.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 31 Jul - CARE reaffirmed Adani Total Gas's long-term rating at AA+ and short-term rating at A1+.
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Jul - Q1FY27 post-results investor call scheduled for July 22, 2026 at 12:30 pm IST.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 2d - ATGL released Q1FY27 unaudited results, showing 27% revenue growth and 13% volume growth.
Source: Bse
Annual reportJun 2026
Jun 2026 · Notice Of 21St Annual General Meeting 29 May - 21st AGM on June 25, 2026; cutoff date June 18, 2026; FY2025-26 annual report submitted.
Source: Bse
Annual reportJun 2026
Jun 2026 · Reg. 34 (1) Annual Report. 29 May - 21st AGM on June 25, 2026; FY2025-26 integrated annual report and voting cut-off June 18, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Jun - Newspaper Advertisement in compliance with IEPF Rules, 2016
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Jun - Newspaper Advertisement - Notice of 21st Annual General Meeting, Intimation of Record Date and E-Voting Information
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.