Adani Total Gas Limited (ATGL) has reported significant growth in its operations and financial performance for Q2FY26, along with key milestones in its customer base and infrastructure expansion.

Operational Highlights

ATGL achieved a combined CNG and PNG volume of 280 MMSCM for Q2FY26, representing a 16% year-on-year increase. The company expanded its CNG network to 662 stations by adding 12 new stations during the quarter. Notably, ATGL crossed the milestone of 1 million PNG household connections, reaching 1.02 million homes.

Financial Performance

The company's revenue from operations increased by 19% to INR 1,569.00 crores for Q2FY26. EBITDA stood at INR 302.00 crores for the quarter. For the first half of FY26, ATGL reported a 20% growth in revenue to INR 3,060.00 crores, with EBITDA at INR 603.00 crores.

Credit Rating Upgrade

ATGL's financial strength was further validated by credit rating upgrades. Three rating agencies - ICRA, CRISIL, and CARE - upgraded the company's credit rating to AA+ (Stable).

Operational Challenges and Expansions

The company faced a 29% increase in gas costs due to lower APM allocation to the CNG segment, which was replaced by higher-priced gas. Despite this challenge, ATGL continued its expansion efforts, completing approximately 14,524 inch-km of steel pipeline network and adding 147 new industrial and commercial connections.

Awards and Recognition

ATGL's commitment to excellence was recognized with three PNGRB Awards for safety, sustainability, and customer service excellence.

Market Outlook

ATGL's volume growth, infrastructure expansion, and customer base increase demonstrate its position in the city gas distribution sector. The company's ability to grow despite challenges such as increased gas costs highlights its operational resilience.

As Adani Total Gas continues to expand its operations and customer base, its performance in the coming quarters may be of interest to investors and industry observers. The company's focus on safety, sustainability, and customer service, as evidenced by the PNGRB awards, could contribute to its growth and market position in the energy sector.

However, the company may face ongoing challenges related to gas pricing and regulatory matters. How ATGL navigates these challenges while maintaining its growth trajectory could be crucial for its future performance and market standing.

Adani Total Gas Limited (ATGL) has announced a significant change in its top management. Parag Parikh, the Chief Financial Officer (CFO) and Key Managerial Personnel of the company, has resigned from his position.

Resignation Details

According to a regulatory filing by Adani Total Gas, Mr. Parikh's resignation will take effect from the closure of business hours on September 30, 2025. The company stated that Mr. Parikh is stepping down to pursue external professional opportunities.

Company's Response

In its statement, Adani Total Gas expressed its appreciation for Mr. Parikh's contributions during his tenure as CFO. The company said, "We place on record our deep sense of appreciation for the services rendered by Mr. Parikh during his tenure as Chief Financial Officer (Key Managerial Personnel) of the Company."

Next Steps

ATGL has informed that it is in the process of appointing a new Chief Financial Officer. The company has committed to making an announcement regarding the new appointment in the coming days.

Additional Management Changes

In a separate announcement on the same day, Adani Total Gas also disclosed the superannuation of Mr. Ram Ballabha Singh, who held the position of Joint President - Project Management Office. Mr. Singh, designated as Senior Management Personnel (SMP), will also be leaving the company effective September 30, 2025.

About Adani Total Gas Limited

Adani Total Gas Limited, formerly known as Adani Gas Ltd, is a key player in the Indian natural gas distribution sector.

These management changes come at a time when the energy sector is facing dynamic challenges and opportunities. Stakeholders will be keenly watching how these transitions impact ATGL's strategic direction and operational efficiency in the coming months.