Adani Total Gas - Public Comps and Valuation Multiples

Adani Total Gas Overview

About Adani Total Gas

Adani Total Gas Ltd is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential), and Compressed Natural Gas (CNG) to the transport sector. It has a single operating segment that is the Sale of Natural Gas. Geographically, the group has set up gas distribution networks in Ahmedabad and Vadodara in Gujarat, Faridabad in Haryana, and Khurja in Uttar Pradesh.

Founded

2005

HQ

Employees

578

Website

adanigas.com

Sectors

Utilities
Energy Services

Financials

LTM Revenue $657M

LTM EBITDA $153M

EV

$7.9B

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Adani Total Gas Financials

As of September 2025, Adani Total Gas reported last 12-month revenue of $657M and EBITDA of $153M.

In the same period, Adani Total Gas achieved $92.1M in LTM net income.

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Adani Total Gas P&L

In the most recent fiscal year, Adani Total Gas reported revenue of $560M and EBITDA of $131M.

Adani Total Gas expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$657M	XXX	$560M	XXX	XXX	XXX
Gross Profit	n/a	XXX	$174M	XXX	XXX	XXX
Gross Margin	n/a	XXX	31%	XXX	XXX	XXX
EBITDA	$153M	XXX	$131M	XXX	XXX	XXX
EBITDA Margin	23%	XXX	23%	XXX	XXX	XXX
EBIT	n/a	XXX	$105M	XXX	XXX	XXX
EBIT Margin	n/a	XXX	19%	XXX	XXX	XXX
Net Profit	$92.1M	XXX	$73.8M	XXX	XXX	XXX
Net Margin	14%	XXX	13%	XXX	XXX	XXX
Net Debt	XXX	XXX	$172M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Adani Total Gas including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $657M. EBITDA for the last twelve months was $153M. In the most recent fiscal year, Adani Total Gas achieved $560M in revenue and $131M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$657M	Analyst estimates available to subscribers	$560M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$174M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	31.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$153M	Analyst estimates available to subscribers	$131M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	23.3% EBITDA margin	Analyst estimates available to subscribers	23.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	n/a	Analyst estimates available to subscribers	$105M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	n/a	Analyst estimates available to subscribers	18.8% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$92.1M	Analyst estimates available to subscribers	$73.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	14.0% net profit margin	Analyst estimates available to subscribers	13.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$172M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Adani Total Gas

This financial data table provides comprehensive performance metrics for Adani Total Gas, a company based in India. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Adani Total Gas generated $657M in revenue over the last twelve months.
The company achieved $153M in EBITDA over the last twelve months.
Net income over the last twelve months reached $92.1M.

Fiscal Year Performance

In the most recent fiscal year, Adani Total Gas reported $560M in total revenue.
Fiscal year EBITDA was $131M.
The company maintained a gross profit margin of 31.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 23.4%.
Net profit margin reached 13.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Adani Total Gas. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Adani Total Gas Stock Performance

Adani Total Gas has current market cap of INR 682B (or $7.7B), and EV of INR 697B (or $7.9B).

Market Cap Evolution

Adani Total Gas Stock Data

As of October 17, 2025, Adani Total Gas's stock price is INR 620 (or $7).

See Adani Total Gas trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$7.9B	$7.7B	XXX	XXX	XXX	XXX	n/a

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Adani Total Gas Valuation Multiples

Adani Total Gas's trades at 14.4x EV/Revenue multiple, and 60.0x EV/EBITDA.

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Adani Total Gas Financial Valuation Multiples

As of October 17, 2025, Adani Total Gas has market cap of $7.7B and EV of $7.9B.

Equity research analysts estimate Adani Total Gas's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Adani Total Gas has a P/E ratio of 83.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$7.7B	XXX	$7.7B	XXX	XXX	XXX
EV (current)	$7.9B	XXX	$7.9B	XXX	XXX	XXX
EV/Revenue	12.0x	XXX	14.4x	XXX	XXX	XXX
EV/EBITDA	51.4x	XXX	60.0x	XXX	XXX	XXX
EV/EBIT	n/a	XXX	74.4x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	83.5x	XXX	103.7x	XXX	XXX	XXX
EV/FCF	n/a	XXX	1241.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Adani Total Gas Margins & Growth Rates

Adani Total Gas's last 12 month revenue growth is 40%

Adani Total Gas's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.1M for the same period.

Adani Total Gas's rule of 40 is 64% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Adani Total Gas's rule of X is 123% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Adani Total Gas Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	40%	XXX	34%	XXX	XXX	XXX
EBITDA Margin	23%	XXX	24%	XXX	XXX	XXX
EBITDA Growth	44%	XXX	34%	XXX	XXX	XXX
Rule of 40	64%	XXX	64%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	123%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.0M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	12%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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