Adani Total GasNSE:ATGL +0.06%92 Gross Margin % is 31.70% as of Mar. 2026, which is 5% below its 10-year median of 33.54. GuruFocus rates NSE:ATGL with a GF Score™ of 92/100 and a GF Value™ of ₹843.69 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 491 Utilities - Regulated companies, Adani Total Gas ranks better than 52.34% on this metric.
Adani Total Gas Ltd gross margin has been in long-term decline. The average rate of decline per year is -8%.
The historical rank and industry rank for Adani Total Gas's Gross Margin % or its related term are showing as below:
NSE:ATGL'
s Gross Margin % Range Over the Past 10 Years
Min: 26.64 Med: 33.54 Max: 51.11
Current: 31.69
During the past 12 years, the highestGross Margin % of Adani Total Gas was 51.11%. The lowest was 26.64%. And the median was 33.54%.
NSE:ATGL's Gross Margin % is ranked better than 52.34% of 491
companies
in the Utilities - Regulated industry
Industry Median: 30.95
vs NSE:ATGL: 31.69
Adani Total Gas had a gross margin of 31.70% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Adani Total Gas was -8.00% per year.
Adani Total Gas (NSE:ATGL) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Adani Total Gas had a gross margin of 31.70% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Adani Total Gas Gross Margin % Related Terms
Adani Total Gas Gross Margin % Historical Data
* Premium members only.
The historical data trend for Adani Total Gas's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:ATGL vs ATO, NI, UGI: Gross Margin % Comparison
For the Utilities - Regulated Gas subindustry, Adani Total Gas's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Adani Total Gas Gross Margin % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Adani Total Gas's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Adani Total Gas's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Adani Total Gas (NSE:ATGL) has a Gross Margin % of 31.70% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Adani Total Gas and its competitors. This is near median its historical median of 33.54. Over the past decade, Adani Total Gas' Gross Margin % has ranged from 26.64 to 51.11. According to the industry distribution chart, Adani Total Gas ranks #234 out of 491 companies in the Utilities - Regulated industry, placing it in the top 47.7%.
Is Adani Total Gas' Gross Margin % too high?
Adani Total Gas' current Gross Margin % of 31.70% is near median its 10-year median of 33.54. Over the past 10 years, this metric has ranged from a low of 26.64 to a high of 51.11. The Utilities - Regulated industry median Gross Margin % is 30.95. Adani Total Gas' value of 31.70% is 2.4% above this industry median. Based on the distribution chart, Adani Total Gas ranks #234 out of 491 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Adani Total Gas has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adani Total Gas' Gross Margin % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Adani Total Gas ranks #234 out of 491 companies for Gross Margin %. This puts Adani Total Gas in the upper half of its industry. The industry median Gross Margin % is 30.95. Adani Total Gas' value of 31.70% is 2.4% above this benchmark. Historically, Adani Total Gas' own Gross Margin % has ranged from 26.64 to 51.11 over the past decade. While the company's 10-year median is 33.54 vs. the industry median of 30.95, Adani Total Gas has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Utilities - Regulated company?
The median Gross Margin % among Utilities - Regulated companies is 30.95, based on 491 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Adani Total Gas's current Gross Margin % of 31.70% is 2.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Adani Total Gas and its competitors. For the Utilities - Regulated industry, the median Gross Margin % is 30.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adani Total Gas's current Gross Margin % is 31.70%, which is near median its own 10-year median of 33.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adani Total Gas stock overvalued right now?
Based on GuruFocus' analysis, Adani Total Gas (NSE:ATGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹843.69, compared to a current price of ₹719.80 — trading 14.7% below its estimated fair value. The current Gross Margin % is 31.70%, which is near median its 10-year median of 33.54 and 2.4% above the Utilities - Regulated industry median of 30.95. Adani Total Gas' overall GF Score™ is 92/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Adani Total Gas (NSE:ATGL), the current Gross Margin % is 31.70% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Adani Total Gas (NSE:ATGL) Overvalued in 2026?
Based on GuruFocus' analysis, Adani Total Gas stock appears to be undervalued.
The current stock price of ₹719.80 is trading 14.7% below its estimated GF Value™ of ₹843.69.
GuruFocus considers Adani Total Gas to be Modestly Undervalued.
Key valuation signals for NSE:ATGL:
Gross Margin %: 31.70% (near median its 10-year median of 33.54)
GF Value™: ₹843.69 vs. price of ₹719.80 (14.7% below fair value)
Industry Position: 2.4% above the Utilities - Regulated median (#234 of 491)
No single metric tells the full story. See the NSE:ATGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adani Total Gas Ltd is engaged in the City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial, and vehicle users. The company is exploring doing business in bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment, and provision of value-added services relating to CGD business. It 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. Natural Gas is a convenient, reliable, and environmentally friendly fuel that allows consumers to enjoy a high level of safety, convenience, and economic efficiency. The Group has a single operating segment that is the sale of Natural Gas.
92GF Score
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