Adani Total Gas Shares Surge Nearly 10%; Q2 FY26 Profit Falls on Higher Input Costs
Shares of Adani Total Gas Ltd (ATGL) rallied sharply on Thursday, January 1, rising nearly 9.5% during intraday trade despite the company reporting a decline in quarterly profit. The stock touched an intraday high of ₹621 on the NSE, reflecting strong investor interest.
Trading activity also picked up significantly, with volumes on the BSE surging more than 10.8 times, indicating heightened market participation.
Q2 FY26 Financial Performance
Adani Total Gas, the city gas distribution joint venture between the Adani Group and France-based TotalEnergies, reported a 9% year-on-year decline in net profit for the September quarter (Q2 FY26), primarily due to higher input gas prices.
The company’s net profit stood at ₹162 crore for the July–September quarter of FY26, compared with ₹178 crore in the same period last year.
The cost of gas rose 26% during the quarter, as the company had to increasingly rely on higher-priced alternatives to compensate for lower allocations of cheaper Administered Price Mechanism (APM) gas. Declining production from legacy gas fields operated by state-run ONGC forced city gas distributors, including ATGL, to source gas from costlier domestic fields and imported LNG.
To support volume growth, the company said it adopted a calibrated pricing strategy, passing on only part of the increased costs to consumers.
Despite margin pressure, revenue from operations rose 19% year-on-year to ₹1,569 crore. During the quarter, ATGL recorded an 18% rise in CNG sales to 191 million standard cubic metres, while piped natural gas (PNG) sales increased 11% to 89 million metric standard cubic metres.
Business Presence
Adani Total Gas currently holds city gas distribution licences for 34 geographical areas (GAs) across India. Additionally, it has licences for 19 more GAs through its joint venture with Indian Oil Corporation, known as Indian Oil–Adani Gas Private Limited (IOAGPL).
Stock Performance
While the stock has gained over 3% in the past five trading sessions, its longer-term performance remains under pressure. Shares of Adani Total Gas have declined 2.5% over the past month, 11% over six months, and 21% over the past 12 months, as of the noon session on January 1, 2026.
With inputs from PTI
FAQs: Adani Total Gas Share Price and Q2 FY26 Performance
Q1. Why did Adani Total Gas shares surge nearly 10% on January 1?
Adani Total Gas shares rose nearly 9.5% during intraday trade due to strong investor interest, despite the company reporting a decline in quarterly profit. Heavy buying activity and a sharp rise in trading volumes supported the stock’s rally.
Q2. What was the intraday high of Adani Total Gas shares?
The stock touched an intraday high of ₹621 on the NSE during the trading session.
Q3. Why did trading volumes increase sharply?
Trading volumes on the BSE jumped more than 10.8 times, indicating heightened market participation and increased investor activity in the stock.
Q4. How did Adani Total Gas perform in Q2 FY26?
Adani Total Gas reported a 9% year-on-year decline in net profit for the September quarter (Q2 FY26), mainly due to higher input gas costs.
Q5. What was Adani Total Gas’ net profit in Q2 FY26?
The company’s net profit stood at ₹162 crore in Q2 FY26, compared with ₹178 crore in the same quarter last year.
Q6. Why did input gas costs rise for the company?
Input gas costs increased by 26% as lower allocations of cheaper APM gas forced the company to rely on more expensive domestic gas sources and imported LNG. Declining production from ONGC’s legacy gas fields also contributed to higher costs.
Q7. Did Adani Total Gas pass on higher costs to consumers?
The company adopted a calibrated pricing approach, passing on only a portion of the higher input costs to consumers to support volume growth.
Q8. How did Adani Total Gas’ revenue perform despite margin pressure?
Revenue from operations rose 19% year-on-year to ₹1,569 crore, supported by higher sales volumes.
Q9. What was the growth in CNG and PNG sales during the quarter?
CNG sales increased 18% to 191 million standard cubic metres, while PNG sales rose 11% to 89 million metric standard cubic metres in Q2 FY26.
Q10. How extensive is Adani Total Gas’ business presence in India?
Adani Total Gas holds city gas distribution licences for 34 geographical areas and has licences for 19 additional areas through its joint venture with Indian Oil Corporation (IOAGPL).
Q11. How has Adani Total Gas stock performed over different time frames?
Up over 3% in the past five trading sessions
Down 2.5% over the past month
Down 11% over the past six months
Down 21% over the past 12 months
Q12. Should investors consider this movement as investment advice?
No. The stock movement is based on market activity and company updates. Investors should consult their financial advisor before making investment decisions.
