ATGL · Oil Gas & Consumable Fuels
No check fired. That is a statement about the checks below, not a verdict on the company.
Operating margin fell sharply on the year. Pricing, input costs, or mix?
Expected for Oil, gas and energy: Margins move with crude and inventory gains each quarter. EBITDA margin 21.3%, −459 bps on the year (+145 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,155 cr | ₹1,166 cr | ₹1,144 cr | ₹1,216 cr | ₹1,291 cr | ₹1,336 cr | ₹1,372 cr | ₹1,444 cr | ₹1,499 cr | ₹1,549 cr | ₹1,743 cr | ₹1,936 cr |
| YoY | — | — | +8% | +11% | +12% | +15% | +20% | +19% | +16% | +16% | +27% | +34% |
| EBITDA margin | 24.9% | 24.8% | 25.9% | 25.2% | 20.4% | 19.8% | 21.3% | 20.3% | 20.2% | 19.3% | 15.4% | 16.8% |
| Other income, % of PBT | 6% | 7% | 5% | 3% | 4% | 5% | 4% | 4% | 4% | 5% | 7% | 6% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 27% | 25% | 26% | 26% | 25% | 26% | 26% | 26% | 27% | 25% | 29% |
| Net profit | ₹172 cr | ₹165 cr | ₹177 cr | ₹178 cr | ₹143 cr | ₹149 cr | ₹162 cr | ₹162 cr | ₹157 cr | ₹156 cr | ₹133 cr | ₹167 cr |
| YoY | — | — | +20% | +6% | −17% | −10% | −8% | −9% | +10% | +5% | −18% | +3% |
| Core profit YoY | — | — | +18% | +9% | −15% | −10% | −7% | −11% | +10% | +8% | −21% | +6% |
| EPS | ₹1.57 | ₹1.50 | ₹1.61 | ₹1.62 | ₹1.30 | ₹1.36 | ₹1.47 | ₹1.47 | ₹1.43 | ₹1.42 | ₹1.21 | ₹1.52 |
| Flags | · | · | ✓ | ✓ | 1 | 1 | 1 | 1 | ✓ | ✓ | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Adani Total Gas Ltd. reported revenue of ₹1,372 cr (+19.9% on the year) and net profit of ₹162 cr (−8.5% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved −6.7% on the year, against −8.5% for reported profit.
None of the 6 checks that could run raised a question.
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