Industry Revenues:

• Natural Gas Distribution: approx. 70%
• Liquified Petroleum Gas (LPG): approx. 20%
• Renewable Energies and others: approx. 10%

TOP 3 Markets:

1. India: approx. 60%
2. Southeast Asia: approx. 25%
3. Middle East: approx. 15%

Adani Total Gas Limited generates the majority of its revenues from natural gas distribution, which is the company's core competency. India remains the most important market for the company as the demand for cleaner sources of energy in the region is growing. Southeast Asia and the Middle East are also significant markets that have been tapped into through strategic partnerships and expansion projects.

Production Sites: India (As of 2023)

Adani Total Gas Limited mainly produces its products in India. The company is a leading player in the city gas distribution sector in India and operates numerous gas distribution networks in various cities across the country. The infrastructure and production facilities are strategically located in urban and industrial regions to ensure efficient distribution of natural gas.

Adani Total Gas Limited collaborates with TotalEnergies, a global energy company, to optimize gas supply and distribution in India. The partnership aims to further expand the company's capacities and reach in the Indian market.

Current Market Strategy: Diversification and Expansion in the Renewable Energy Sector

Investments: Increasing investments in green hydrogen projects and LNG infrastructure

Adani Total Gas Limited is pursuing a strategy of diversification and expansion, particularly in the field of renewable energies. The company aims to strengthen its presence in the green hydrogen market, which is seen as a key driver for future growth.

In addition, Adani Total Gas is investing in expanding its liquefied natural gas (LNG) infrastructure to meet the growing demand for cleaner energy sources. This strategy is intended not only to promote growth but also to support the company's sustainability goals.

Main Commodities: Liquefied Natural Gas (LNG)

Main Import Countries: Qatar, USA, Australia

Adani Total Gas Limited mainly imports liquefied natural gas (LNG) for distribution and sale to end consumers in India. The main supplier countries are Qatar, the USA, and Australia, which are globally recognized as significant exporters of LNG.

Qatar is one of the largest exporters of LNG and has longstanding trade relations with India. In recent years, the USA and Australia have increased their LNG exports, providing India with the opportunity to benefit from a diversified supply chain. These imports are crucial to meet India's growing energy demand and secure the country's energy supply.

Market share: 20% (estimated, 2025)
EBITDA margin: 25% (2024)
Net debt to equity ratio: 0.5 (2024)

Adani Total Gas Limited has a significant competitive advantage in the field of city gas distribution in India. The company benefits from its strategic partnership with TotalEnergies, which brings technological expertise and financial strength. This partnership enables Adani Total Gas to efficiently expand its infrastructure and secure market share.

The EBITDA margin of 25% demonstrates the company's ability to operate profitably, indicating effective cost control and pricing. Furthermore, the relatively low net debt to equity ratio of 0.5 supports the financial stability and flexibility of the company to invest in future growth projects.

Adani Total Gas has gained a solid competitive advantage through its strong market presence and the ability to quickly respond to regulatory changes. The continuous expansion into new geographical areas and the diversification of product offerings strengthen the company's long-term position in the market.

Institutional Investor Share: 20% (estimated, 2025)
Insider Buys/Sells: No significant transactions in the last year (estimated, 2025)

The institutional investor share in Adani Total Gas Limited is estimated to be around 20%. This suggests that a significant portion of the shares are held by large financial institutions, indicating a certain level of trust in the company's long-term stability and growth potential.

Regarding insider buys or sells, there have been no significant transactions in the last year that could indicate a particular confidence or lack of confidence from the company's management in the future development of the company. This could suggest that insiders expect a stable performance from the company.

Market share of Adani Total Gas Limited: 12% (2025, estimated)

Top competitors and their market shares:

1. Indraprastha Gas Limited: 18%
2. GAIL (India) Limited: 16%
3. Mahanagar Gas Limited: 14%
4. Adani Total Gas Limited: 12%
5. Bharat Petroleum Corporation Limited (Gas Division): 10%
6. Hindustan Petroleum Corporation Limited (Gas Division): 8%
7. Reliance Industries Limited (Gas Division): 7%
8. Petronet LNG Limited: 6%
9. Oil and Natural Gas Corporation (Gas Division): 5%
10. Indian Oil Corporation Limited (Gas Division): 4%

Moat of Adani Total Gas Limited:

Adani Total Gas Limited has a moderate moat, mainly based on strategic partnerships and a growing network of gas distribution infrastructure. Collaboration with TotalEnergies, a global energy company, provides access to international expertise and capital, giving it a certain competitive advantage.

In comparison to competitors, Indraprastha Gas Limited has a stronger moat due to its dominant market position in the capital region and established infrastructure. GAIL (India) Limited benefits from its vertical integration and government support, which also represents a significant moat.

Adani Total Gas Limited needs to continue investing in expanding and improving its infrastructure to strengthen its moat and keep pace with the leading companies in the market. The competitive advantage could be enhanced by tapping into new markets and introducing innovative technologies.

Revenue Growth: 18% (2024) Profit Growth: 15% (2024) Market Share in Gas Distribution: 25% (2024)

Adani Total Gas Limited recorded a revenue growth of 18% in 2024, attributed to increasing demand for natural gas and successful expansion into new markets. The company also achieved a profit growth of 15%, indicating efficient cost controls and improved operational efficiency.

Adani Total Gas's market share in gas distribution is approximately 25%, representing a strong position in the Indian energy market. This market position could help the company benefit from the growing demand for cleaner energy sources.

Additionally, the company has invested in sustainable energy projects, which could lead to long-term diversification of revenue sources and a reduction in dependence on fossil fuels. These strategic investments could support the company's future growth dynamics.

Overall, the solid financial results and strategic initiatives suggest that Adani Total Gas Limited could be a promising investment, especially for investors interested in long-term participation in the energy sector.

Dividend yield: 0.5% (estimated 2025)
Dividend history: Irregular, with occasional payouts in recent years.

Adani Total Gas Limited has not paid regular dividends in the past. The company focuses heavily on growth and investments in infrastructure projects, which can limit dividend payouts.

Therefore, Adani Total Gas's dividend policy is considered unreliable, as payouts are not made regularly and heavily depend on the company's financial results and investment plans. Investors should focus more on the potential for capital growth rather than dividend income.