Top Gas Distribution Stocks Compared: IGL vs Mahanagar Gas vs Adani Total Gas vs Petronet LNG vs GAIL on Price, Valuation, Q2 FY27 Results and Risks

Gas distribution stocks compared here means IGL, Mahanagar Gas, Adani Total Gas, Petronet LNG and GAIL on one page, checked on previous close, market value, valuation and the latest quarterly numbers. The group mixes three city gas distributors, an LNG terminal operator and a gas pipeline company, so each figure needs a little context.

All five gas companies have filed their September 2026 quarter, so every result below is Q2 FY27. Gas names tend to follow energy demand and policy, so a glance at the Nifty 500 page and the Sensex page before you read the tables gives useful backdrop.

Click Here – Get Free Investment Predictions

Gas Distribution Stocks Compared: Distributors, Terminals and Pipelines

The gas distribution stocks compared here are IGL, Mahanagar Gas, Adani Total Gas, Petronet LNG and GAIL. GAIL is the largest by market capitalisation at Rs 1,22,231 crore. Previous closes run from Rs 140.76 for IGL to Rs 1,106.00 for Mahanagar Gas, which is why a side-by-side look at value rather than price is more useful. This gas distribution stocks compared list is the base for every table that follows.

Stock	Previous close (Rs)	Market cap (Rs crore)
IGL	140.76	19,642
Mahanagar Gas	1,106.00	10,927
Adani Total Gas	581.60	63,992
Petronet LNG	310.00	47,520
GAIL	185.99	1,22,231

A quick look at the business behind each ticker puts the numbers in context. IGL sells CNG and piped cooking gas in Delhi and nearby cities, while Mahanagar Gas sells CNG and piped cooking gas in Mumbai and nearby areas. Adani Total Gas is a city gas distributor with CNG and piped gas licences in many cities, and Petronet LNG runs LNG import terminals at Dahej and Kochi. To compare gas distribution stocks properly, line up dividend yield, price to earnings and gas volumes before forming a view.

Rounding out the group, GAIL is the country's largest natural gas transmission and marketing company, with a large pipeline network. A fair gas distribution stock comparison looks at what each company actually earns from, not only at the share price. City distributors, terminals and pipelines belong in separate mental boxes whenever you compare gas distribution stocks fairly.

Gas Distribution Stocks Valuation: Multiples and Dividend Yield

GAIL trades at the lowest price to earnings ratio in this group at 9.70. Petronet LNG reports the highest return on equity at 19.13%. GAIL has the lowest price to book value at 1.26. These gas distribution stocks valuation readings come from the previous close and the latest reported financials. That is the idea behind this gas distribution stocks compared table: dividend yield and price to earnings sit side by side so a high or low reading stands out at once.

Stock	Price to earnings	Price to book	ROE (%)	Dividend yield (%)	Debt to equity
IGL	19.79	1.70	8.66	3.39	0.01
Mahanagar Gas	16.59	1.66	10.03	2.71	0.05
Adani Total Gas	99.63	12.36	12.40	0.04	0.47
Petronet LNG	10.26	1.96	19.13	3.16	0.09
GAIL	9.70	1.26	13.05	2.96	0.25

Gas companies often combine modest price to earnings multiples with regular dividends, so dividend yield deserves a place next to valuation. City distributors, terminal operators and pipeline companies earn differently, so the same ratio can mean different things across the group. Earnings per share and book value per share are the building blocks behind price to earnings and price to book, so a glance at both in each filing is time well spent. A simple gas distribution stock comparison like this one is only as useful as the context behind it, which is why gas volumes is worth checking as well.

In this group, price to earnings runs from 9.70 for GAIL to 99.63 for Adani Total Gas. IGL offers the highest dividend yield at 3.39%. The sector benchmark for price to earnings is 8.90, and every stock in the table can be measured against that figure. The industry price to earnings is a handy anchor, but distributors, terminals and pipeline companies sit at different readings, so compare each stock with the figure for its own part of the chain. A well-built gas distribution stock comparison also notes that gas sourcing costs can move margins between quarters. Run the same gas distribution stock comparison on your own watchlist and the pattern in these numbers will be easier to spot. Whenever you compare gas distribution stocks, note whether a premium is backed by returns or only by size.

Gas Distribution Stocks Q2 FY27 Results: Revenue and Profit Check

All of the five gas distribution stocks compared have filed Q2 FY27 numbers. Adani Total Gas posted the fastest revenue growth at 34.0% year on year. GAIL showed the sharpest rise in net profit at 137.5%. Read revenue first and quarterly profit second, since the two together show how much of the growth reaches shareholders. Treat the Q2 FY27 numbers in this gas distribution stocks compared review as a snapshot of one quarter, not a verdict on any gas company.

Stock	Q2 FY27 revenue (Rs crore)	Q2 FY26 revenue (Rs crore)	Q2 FY27 net profit (Rs crore)	Q2 FY26 net profit (Rs crore)
IGL	5,751	4,541
Mahanagar Gas	2,802	2,285
Adani Total Gas	2,124	1,585	173.3	163.5
Petronet LNG	7,435	11,243	1,235	801.9
GAIL	47,474	35,894	4,724	1,989

IGL Results Snapshot

In the September 2026 quarter, IGL booked revenue of Rs 5,751 crore against Rs 4,541 crore in the same quarter last year, a rise of 26.7%.

Mahanagar Gas Results Snapshot

Mahanagar Gas' Q2 FY27 top line stood at Rs 2,802 crore, versus Rs 2,285 crore in Q2 FY26, a rise of 22.6%.

Adani Total Gas Results Snapshot

Adani Total Gas reported Q2 FY27 revenue of Rs 2,124 crore, compared with Rs 1,585 crore a year earlier, a rise of 34.0%. Net profit rose 6.0% to Rs 173.3 crore from Rs 163.5 crore. Earnings per share for the quarter rose to Rs 1.58 from Rs 1.49.

Petronet LNG Results Snapshot

For the September 2026 quarter, Petronet LNG booked revenue of Rs 7,435 crore. Net profit rose 54.0% to Rs 1,235 crore from Rs 801.9 crore. Operating margin expanded to 26.3% from 12.3% a year ago. Earnings per share for the quarter rose to Rs 8.38 from Rs 5.54.

GAIL Results Snapshot

GAIL's Q2 FY27 top line stood at Rs 47,474 crore, versus Rs 35,894 crore in Q2 FY26, a rise of 32.3%. Net profit rose 137.5% to Rs 4,724 crore from Rs 1,989 crore. Operating margin expanded to 15.7% from 11.2% a year ago. Earnings per share for the quarter rose to Rs 7.18 from Rs 3.00.

Gas results depend on volumes, gas sourcing costs and margin per unit, so revenue and profit can move differently from one quarter to the next. That is why a gas distribution stock comparison works best when it looks at two or three quarters together. Used this way, a gas distribution stocks compared review becomes a map of the gas chain rather than a price list. When you compare gas distribution stocks after each result season, track how gas volumes changes from one quarter to the next. A gas distribution stock comparison built on one quarter of data is a starting point, and the next set of results will update it.

Gas Distribution Stocks Compared Two at a Time: Three Pairings

Readers rarely want a five-way table and nothing else, so here are three head-to-head reads drawn from the same data. Use them as a quick way to compare gas distribution stocks two at a time.

IGL vs Mahanagar Gas

Indraprastha Gas and Mahanagar Gas are the two long-established city gas distributors on this list, one in Delhi and nearby cities and the other in Mumbai. On price to earnings, Mahanagar Gas carries the lower multiple at 16.59 against 19.79 for IGL. Mahanagar Gas reports the higher return on equity, at 10.03% against 8.66% for IGL. For dividend income, IGL offers 3.39% against 2.71% at Mahanagar Gas. Both sell CNG and piped gas, so read volumes next to dividend yield and valuation.

Adani Total Gas vs IGL

Adani Total Gas has licences in many cities, while Indraprastha Gas has a deep base in the Delhi region. Adani Total Gas reports the higher return on equity, at 12.40% against 8.66% for IGL. For dividend income, IGL offers 3.39% against 0.04% at Adani Total Gas. In Q2 FY27, Adani Total Gas grew revenue faster, at 34.0% year on year against 26.7% for IGL. A fast-expanding distributor and an established one are priced differently, so read the business mix before you read the ratio.

Petronet LNG vs GAIL

Petronet LNG runs LNG import terminals and GAIL runs a large gas pipeline network, so both earn on the gas that moves through their assets. GAIL is about 2.6 times the size of Petronet LNG by market capitalisation, at Rs 1,22,231 crore against Rs 47,520 crore. On price to earnings, GAIL carries the lower multiple at 9.70 against 10.26 for Petronet LNG. Petronet LNG reports the higher return on equity, at 19.13% against 13.05% for GAIL. Terminal and pipeline models are priced differently, so read return on equity and dividend yield together.

Best Gas Distribution Stocks for Each Type of Investor

People who ask for the best gas distribution stocks often have very different goals, so here is who leads on each measure today, row by row. Any gas distribution stocks compared table can mislead if you stop at one row, because each gas company leads on a different measure.

If you care most about	Start your research with	The number
Lowest price to earnings	GAIL	9.70
Highest return on equity	Petronet LNG	19.13%
Highest dividend yield	IGL	3.39%
Lowest price to book value	GAIL	1.26
Largest by market capitalisation	GAIL	Rs 1,22,231 crore
Fastest Q2 FY27 revenue growth	Adani Total Gas	34.0%
Sharpest Q2 FY27 net profit rise	GAIL	137.5%

No single name tops every row, which is exactly why a gas distribution stock comparison helps. City distributors, an LNG terminal operator and a pipeline company lead on different measures, so decide which part of the chain you want before you rank the numbers.

What Is Driving Gas Demand Right Now?

The country wants a bigger share of natural gas in its energy mix, and cities are adding CNG stations and piped gas connections for homes and industry. City gas distributors earn from volumes sold to vehicles, homes and factories, while LNG terminals and pipelines earn on the gas that moves through them. Knowing what moves gas sourcing costs and volumes helps you compare gas distribution stocks with the right questions in mind.

Volumes, gas sourcing cost and the margin per unit decide profit for a distributor, while terminal use and pipeline throughput matter for Petronet and GAIL. Dividend payouts also make this group a favourite with income-focused readers. A good gas distribution stocks compared routine therefore tracks gas volumes, sourcing costs, margin per unit and dividend payouts.

Risks to Weigh When You Compare Gas Distribution Stocks

Gas distribution stocks depend on gas supply allocation, the cost of gas, CNG pricing and competition from electric vehicles over the long run. LNG prices can also swing margins. Read each filing for volume growth, sourcing cost and payout commentary before you compare them. Every gas distribution stock comparison has blind spots, and for this group the biggest is gas sourcing costs and volumes.

Because gas volumes, sourcing costs, margin per unit and dividend payouts drive these businesses, the most useful habit is to read the management commentary that comes with every result and note what is expected for the next quarter. Read together, the risk notes and the tables make this gas distribution stocks compared guide a balanced starting point.

How to Compare Gas Distribution Stocks and Build a Shortlist

Start by deciding whether you want city gas distribution, LNG terminals or pipelines, because each responds to different triggers. Distributors reward readers who track volumes and margin per unit, while terminals and pipelines reward those who track throughput. Done step by step, this gas distribution stocks compared routine becomes repeatable rather than a one-off exercise.

Then check dividend yield and debt, because this group is often followed for payouts as much as for growth. Spreading your attention across one distributor and one terminal or pipeline name is a simple way to see both sides of the chain. Keep the shortlist of best gas distribution stocks short enough that you can actually follow each company's quarterly results. When you compare gas distribution stocks again after new results, update only the rows that changed instead of starting over.

The Univest stock screener lets you filter gas distribution stocks by market capitalisation, return on equity and price to earnings, and the app keeps live prices a tap away through the trading day. Come back to this gas distribution stocks compared page after the next set of results to see which numbers have moved.

Check the Univest Screener for live gas distribution stock data

Download the Univest iOS App or Univest Android App to track these gas distribution stocks live.

Conclusion: Gas Distribution Stocks Compared at a Glance

This gas distribution stocks compared review on price, valuation and Q2 FY27 results shows that no single name wins every measure. GAIL leads on size and Petronet LNG leads on return on equity, while the others bring their own strengths. Treat the gas distribution stocks Q2 FY27 results and gas distribution stocks valuation tables as a research starting point, then check the filings and speak to a SEBI-registered advisor before you invest. If you plan to compare gas distribution stocks again next quarter, the same checklist of dividend yield, price to earnings and gas volumes will work.

Frequently Asked Questions on Gas Distribution Stocks Compared

Which are the top gas distribution stocks compared in this article?

Ans. The gas distribution stocks compared in this article are IGL, Mahanagar Gas, Adani Total Gas, Petronet LNG and GAIL. They are checked on previous close, market capitalisation, price to earnings, price to book, return on equity and the latest quarterly results, giving you a quick, even-handed view of the group ahead of any detailed filing review.

Which gas distribution stock has the highest market capitalisation?

Ans. Among the five names, GAIL has the highest market capitalisation at Rs 1,22,231 crore. Adani Total Gas follows at Rs 63,992 crore. The figure reflects what the market is paying for the whole company today, and it will change as prices move, so refresh it before you decide.

Which of these gas distribution stocks has the lowest price to earnings ratio?

Ans. On gas distribution stocks valuation, GAIL has the lowest price to earnings ratio among these gas distribution stocks at 9.70, based on the latest reported earnings. Adani Total Gas sits at the other end at 99.63. The lowest ratio is not a verdict on the stock, since earnings growth and quality decide whether a multiple is fair.

Which gas distribution stock has the highest return on equity?

Ans. Petronet LNG reports the highest return on equity in this group at 19.13%. A higher return on equity points to a company that turns shareholder funds into profit efficiently. Check the trend over time and the debt level before leaning on a single reading.

How did gas distribution stocks perform in Q2 FY27 results?

Ans. All of the five names have filed Q2 FY27 numbers in our data. Adani Total Gas recorded the fastest revenue growth at 34.0% year on year. GAIL showed the sharpest net profit rise at 137.5%. For gas distribution stocks Q2 FY27 results, each filing on the exchange website carries the full detail behind these figures.

What are the main risks when you compare gas distribution stocks?

Ans. Gas distribution stocks depend on gas supply allocation, the cost of gas, CNG pricing and competition from electric vehicles over the long run. LNG prices can also swing margins. Read each filing for volume growth, sourcing cost and payout commentary before you compare them. Keep an eye on gas volumes, sourcing costs, margin per unit and dividend payouts.

Which metrics matter most when you compare gas distribution stocks?

Ans. Volumes sold, margin per unit and gas sourcing costs matter most for distributors, while terminal use and pipeline throughput matter for Petronet and GAIL. Price to earnings, return on equity and dividend yield show how the market values each company. Read each company's filing for these along with the numbers in this article.

Which is the best gas distribution stock to buy among these five?

Ans. The best gas distribution stock depends on whether you value growth, steady income or a terminal or pipeline business, because the five names differ on all three. On the numbers in this article, GAIL has the largest market capitalisation as well as the lowest price to earnings; Petronet LNG has the highest return on equity; IGL has the highest dividend yield. The leaders change from row to row, so no stock stands out on everything, and this article is not advice. Shortlist from the tables, verify with the latest filings, and consult a SEBI-registered advisor, since time horizon and risk appetite matter most.