Balance sheet of Adani Total Gas is strong.
But short term working capital might become an issue for this company.

Yes, The net debt of Adani Total Gas is increasing.
Latest net debt of Adani Total Gas is ₹809 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹559 Crs.

No, profit is decreasing.
The profit of Adani Total Gas is ₹627 Crs for TTM, ₹654 Crs for Mar 2025 and ₹668 Crs for Mar 2024.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Adani Total Gas latest dividend payout ratio is 4.2% and 3yr average dividend payout ratio is 4.45%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Capital Work in Progress