Adani Total Gas Fixes Record Date For Dividend, Down 83% From 1 Year High

Large cap energy stock Adani Total Gas recorded a market cap of Rs 70,464.83 Cr during Tuesday's closing session. Adani Total Gas develops City Gas Distribution (CGD) Networks to deliver Piped Natural Gas (PNG) to commercial, residential, industrial and transportation markets as well as Compressed Natural Gas (CNG) to the domestic and commercial markets.

"Pursuant to the Regulation 42 of SEBI Listing Regulations, it is hereby informed that the Company has fixed Friday, 7th July, 2022 as 'Record Date' for the purpose of determining entitlement of the members of the Company to receive Dividend of Re. 0.25/- (@ 25%) per equity share having face value of Re. 1/- each fully paid-up for the financial year 2022-23. The said Dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after 20th July, 2023, subject to deduction of tax at source as applicable," said Adani Total Gas in a stock exchange filing on 26th June, 2023.

Adani Total Gas reported a net profit of Rs 97.91 crore for the quarter that ended March 2023 up by 21 per cent compared to a net profit of Rs 81.09 crore in the corresponding quarter last fiscal. Its consolidated revenue from operations grew by 10.2 per cent to Rs 1,114.8 crore during Q4FY23 as against Rs 1,012 crore in Q4FY22. Its EBITDA surged 49 per cent YoY to Rs 195.2 Cr and margins climbed to 17.5 per cent from 13 per cent in the March 2022 quarter.

On Tuesday, the shares of Adani Total Gas closed on the BSE at Rs 643.00 apiece down by 0.11% from the previous close of Rs 643.70. The stock made a 52-week-high of Rs 3,998.35 on (23/01/2023) and a 52-week-low of Rs 620.15 on (26/06/2023), indicating that the stock is trading 83.91% below the 1-year high and 3.31% above the recent 1 year low.

During Q4FY23, the company reported promoter shareholding of 74.80%, FIIs stake of 16.32%, DIIs stake of 6.14% and public stake of 2.75%.