Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 25 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 542066 | NSE: ATGL

Adani Total Gas Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 24, 2024, 10:08 pm

Market Cap 66,989 Cr.
Current Price 609
High / Low1,260/546
Stock P/E95.4
Book Value 35.6
Dividend Yield0.04 %
ROCE21.2 %
ROE20.5 %
Face Value 1.00
PEG Ratio14.67

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Adani Total Gas Ltd

Competitors of Adani Total Gas Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Petronet LNG Ltd 48,540 Cr. 324385/19512.4 1233.09 %26.4 %22.2 % 10.0
Mahanagar Gas Ltd 11,434 Cr. 1,1581,989/1,0189.95 5602.59 %36.6 %27.8 % 10.0
Confidence Petroleum India Ltd 2,138 Cr. 67.4120/62.630.7 40.60.15 %13.7 %10.5 % 1.00
Adani Total Gas Ltd 66,989 Cr. 6091,260/54695.4 35.60.04 %21.2 %20.5 % 1.00
Industry Average32,275.25 Cr539.6037.11189.801.47%24.48%20.25%5.50

All Competitor Stocks of Adani Total Gas Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales4946488831,0121,0421,1161,1061,1151,0561,0961,1561,1671,145
Expenses287417680881824889876926808816868879851
Operating Profit207231203131219226230189248280288288295
OPM %42%36%23%13%21%20%21%17%23%26%25%25%26%
Other Income8158101031109101518199
Interest1113131519216322427312926
Depreciation19212122242731313338394946
Profit before tax185213177104186208203136201230236229232
Tax %25%25%26%27%26%23%26%28%25%25%25%27%26%
Net Profit1431581288113816015098150173177168172
EPS in Rs1.301.441.160.741.261.451.370.891.371.571.611.531.56

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,3741,7191,8751,6963,0384,3784,423
Expenses1,0081,2641,2809912,2653,5083,418
Operating Profit3664555957047738701,005
OPM %27%26%32%42%25%20%23%
Other Income80594430465452
Interest1259041405378114
Depreciation6167516383113140
Profit before tax259357547631684733803
Tax %36%36%20%25%26%25%
Net Profit162229436463509546597
EPS in Rs6.312.083.974.214.634.975.44
Dividend Payout %0%12%6%6%5%5%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)41.36%90.39%6.19%9.94%7.27%
Change in YoY Net Profit Growth (%)0.00%49.03%-84.20%3.74%-2.67%

Adani Total Gas Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2018-2019 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:%
5 Years:21%
3 Years:38%
TTM:7%
Compounded Profit Growth
10 Years:%
5 Years:23%
3 Years:12%
TTM:23%
Stock Price CAGR
10 Years:%
5 Years:33%
3 Years:-29%
1 Year:12%
Return on Equity
10 Years:%
5 Years:24%
3 Years:21%
Last Year:20%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:47 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital257110110110110110110110
Reserves7599921,3611,8242,3062,8313,4703,801
Borrowings1,3453944285291,0351,4221,5571,457
Other Liabilities4425525777419641,2821,4541,474
Total Liabilities2,8032,0482,4763,2044,4155,6456,5926,842
Fixed Assets8979801,1981,3791,7332,3353,1743,421
CWIP1021903426961,1711,6191,5021,527
Investments180176282417634682706922
Other Assets1,6247016557118781,0101,209974
Total Assets2,8032,0482,4763,2044,4155,6456,5926,842

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +277356492654732853955
Cash from Investing Activity +-988791-461-770-1,133-1,167-752
Cash from Financing Activity +779-1,077-10239422295-78
Net Cash Flow6870-71-7821-19125

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow365.0061.00167.00175.00772.00869.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days38181222222633
Inventory Days18151425151113
Days Payable57352855313644
Cash Conversion Cycle-2-2-2-8612
Working Capital Days525-12-89-59-50-52
ROCE %24%34%31%25%21%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%74.80%
FIIs18.16%17.83%17.55%17.44%17.25%16.32%14.08%13.94%13.06%13.13%12.96%13.07%
DIIs4.72%5.19%5.60%5.82%6.09%6.14%6.15%6.15%6.14%6.12%6.15%6.13%
Public2.32%2.18%2.05%1.94%1.85%2.75%4.97%5.11%5.98%5.93%6.08%5.99%
No. of Shareholders1,31,8221,30,7471,37,8411,42,6971,36,0223,01,5304,82,9194,94,1866,53,4176,31,0226,55,6436,25,899

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India ETF Nifty Next 50 Junior BeES289,3630.6929.29289,3632024-11-240%
ICICI Prudential Nifty Next 50 Index Fund266,6930.727289,3632024-11-24-7.83%
UTI Nifty Next 50 Index Fund215,9720.721.86289,3632024-11-24-25.36%
SBI Nifty Next 50 ETF143,4320.714.52289,3632024-11-24-50.43%
UTI Nifty Next 50 Exchange Traded Fund114,6690.711.61289,3632024-11-24-60.37%
SBI Nifty Next 50 Index Fund45,9110.74.65289,3632024-11-24-84.13%
HDFC NIFTY Next 50 Index Fund31,5000.73.19289,3632024-11-24-89.11%
ICICI Prudential Nifty Next 50 ETF30,4690.73.08289,3632024-11-24-89.47%
Axis Nifty 100 Index Fund28,1670.242.85289,3632024-11-24-90.27%
DSP Nifty Next 50 Index Fund27,2770.72.76289,3632024-11-24-90.57%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)6.074.974.634.213.97
Diluted EPS (Rs.)6.074.974.634.213.97
Cash EPS (Rs.)7.345.845.344.864.43
Book Value[Excl.RevalReserv]/Share (Rs.)32.5526.7421.9717.5813.37
Book Value[Incl.RevalReserv]/Share (Rs.)32.5526.7421.9717.5813.37
Revenue From Operations / Share (Rs.)40.6939.8127.6215.4217.04
PBDIT / Share (Rs.)10.448.247.416.815.81
PBIT / Share (Rs.)9.007.226.656.245.35
PBT / Share (Rs.)7.996.506.175.744.98
Net Profit / Share (Rs.)5.914.814.594.293.97
NP After MI And SOA / Share (Rs.)6.074.974.634.213.97
PBDIT Margin (%)25.6420.7026.8144.1534.09
PBIT Margin (%)22.1218.1224.0840.4631.39
PBT Margin (%)19.6316.3322.3537.2229.20
Net Profit Margin (%)14.5112.0816.6127.8323.27
NP After MI And SOA Margin (%)14.9112.4816.7627.2923.27
Return on Networth / Equity (%)18.6418.5821.0823.9329.66
Return on Capital Employeed (%)20.7022.9924.7928.6431.21
Return On Assets (%)10.129.6811.5314.4417.61
Long Term Debt / Equity (X)0.240.090.140.150.20
Total Debt / Equity (X)0.410.460.410.220.24
Asset Turnover Ratio (%)0.730.870.790.590.82
Current Ratio (X)0.570.390.240.270.94
Quick Ratio (X)0.510.340.190.210.87
Dividend Payout Ratio (NP) (%)4.115.030.000.0012.60
Dividend Payout Ratio (CP) (%)3.334.160.000.0011.29
Earning Retention Ratio (%)95.8994.970.000.0087.40
Cash Earning Retention Ratio (%)96.6795.840.000.0088.71
Interest Coverage Ratio (X)10.3011.5615.4518.5015.57
Interest Coverage Ratio (Post Tax) (X)6.837.7510.5713.0211.63
Enterprise Value (Cr.)102796.3796374.71237280.68106138.109767.61
EV / Net Operating Revenue (X)22.9722.0178.1162.605.21
EV / EBITDA (X)89.56106.29291.32141.7715.28
MarketCap / Net Operating Revenue (X)22.7521.7877.7962.355.07
Retention Ratios (%)95.8894.960.000.0087.39
Price / BV (X)28.4332.4397.8154.676.46
Price / Net Operating Revenue (X)22.7521.7877.7962.355.07
EarningsYield0.010.010.000.000.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Adani Total Gas Ltd as of November 25, 2024 is: 696.51

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 25, 2024, Adani Total Gas Ltd is Undervalued by 14.37% compared to the current share price 609.00

Intrinsic Value of Adani Total Gas Ltd as of November 25, 2024 is: 741.80

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 25, 2024, Adani Total Gas Ltd is Undervalued by 21.81% compared to the current share price 609.00

Last 5 Year EPS CAGR: 6.50%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 22.29%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -29.29, which is a positive sign.
  3. The stock has a low average Cash Conversion Cycle of -0.71, which is a positive sign.
  4. The company has higher reserves (2,168.00 cr) compared to borrowings (1,020.88 cr), indicating strong financial stability.
  5. The company has shown consistent growth in sales (2.14 cr) and profit (573.43 cr) over the years.

    Stock Analysis

    • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Adani Total Gas Ltd:
      1. Net Profit Margin: 14.51%
        • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
      2. ROCE: 20.7% (Industry Average ROCE: 24.48%)
        • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
      3. ROE%: 18.64% (Industry Average ROE: 20.25%)
        • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
      4. Interest Coverage Ratio (Post Tax): 6.83
        • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
      5. Quick Ratio: 0.51
        • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
      6. Stock P/E: 95.4 (Industry average Stock P/E: 37.11)
        • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
      7. Total Debt / Equity: 0.41
        • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
      The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
      Stock Rating:

    About the Company - Qualitative Analysis

    Adani Total Gas Ltd. is a Public Limited Listed company incorporated on 05/08/2005 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L40100GJ2005PLC046553 and registration number is 046553. Currently Company is involved in the business activities of Manufacture of gas; distribution of gaseous fuels through mains. Company’s Total Operating Revenue is Rs. 3037.81 Cr. and Equity Capital is Rs. 109.98 Cr. for the Year ended 31/03/2022.
    INDUSTRYADDRESSCONTACT
    LPG/CNG/PNG/LNG Bottling/DistributionAdani Corporate House, Shantigram, Ahmedabad Gujarat 382421investor.agl@adani.com
    http://www.adanigas.com
    Management
    NamePosition Held
    Mr. Gautam S AdaniChairman
    Mr. Suresh ManglaniExecutive Director & CEO
    Mr. Pranav V AdaniDirector
    Mr. Olivier SabrieDirector
    Dr. Sangkaran RatnamDirector
    Mr. Shailesh Vishnubhai HaribhaktiIndependent Director
    Mr. Naresh Kumar NayyarIndependent Director
    Mr. Shashi ShankerIndependent Director
    Ms. Gauri TrivediIndependent Director
    Mr. Mukesh M ShahIndependent Director

    FAQ

    What is the latest intrinsic value of Adani Total Gas Ltd?

    The latest intrinsic value of Adani Total Gas Ltd as on 25 November 2024 is ₹696.51, which is 14.37% higher than the current market price of ₹609.00.

    What is the Market Cap of Adani Total Gas Ltd?

    The Market Cap of Adani Total Gas Ltd is 66,989 Cr..

    What is the current Stock Price of Adani Total Gas Ltd as on 25 November 2024?

    The current stock price of Adani Total Gas Ltd as on 25 November 2024 is 609.

    What is the High / Low of Adani Total Gas Ltd stocks in FY 2024?

    In FY 2024, the High / Low of Adani Total Gas Ltd stocks is 1,260/546.

    What is the Stock P/E of Adani Total Gas Ltd?

    The Stock P/E of Adani Total Gas Ltd is 95.4.

    What is the Book Value of Adani Total Gas Ltd?

    The Book Value of Adani Total Gas Ltd is 35.6.

    What is the Dividend Yield of Adani Total Gas Ltd?

    The Dividend Yield of Adani Total Gas Ltd is 0.04 %.

    What is the ROCE of Adani Total Gas Ltd?

    The ROCE of Adani Total Gas Ltd is 21.2 %.

    What is the ROE of Adani Total Gas Ltd?

    The ROE of Adani Total Gas Ltd is 20.5 %.

    What is the Face Value of Adani Total Gas Ltd?

    The Face Value of Adani Total Gas Ltd is 1.00.

    About the Author

    Author Avatar
    Getaka

    Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

    Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Adani Total Gas Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE