Adani Total Gas Limited (ATGL) has reported strong performance for the first quarter, with significant growth in volume and revenue. The company's strategic expansion and focus on the CNG segment have driven its impressive results.

Key Highlights

• Total volume growth of 16% year-on-year, reaching 267 MMSCM
• CNG segment growth of 21% to 185 MMSCM
• Revenue increased by 21% to ₹1,491.00 crores
• EBITDA of ₹301.00 crores
• Profit Before Tax of ₹219.00 crores
• Profit After Tax of ₹162.00 crores

Operational Performance

ATGL's operational performance was marked by robust growth across various segments:

• CNG station network expanded to 650 outlets
• Steel pipeline infrastructure extended to 14,197 inch kilometers
• Added 27,000 new domestic PNG connections, bringing the total to nearly 1 million
• PNG volumes grew by 6% to 82 MMSCM
• Added 157 new industrial and commercial consumers, increasing the base to 9,456

Network Expansion and Partnerships

The company continues to focus on network expansion and strategic partnerships:

• Entered into an agreement with Jio-BP to accelerate DODO and CODO CNG station additions
• This partnership aims to provide a complete range of high-quality fuels to consumers
• The collaboration will also benefit ATGL's e-mobility business by setting up EV charging stations at strategic locations

E-Mobility and Bio Business

ATGL is making strides in diversifying its energy offerings:

• Installed 3,801 EV charge points across 26 states and Union territories with a capacity of 39 megawatts
• Commissioned the Barsana plant and set up the first DODO CBG station in Hodal, Haryana

Financial Performance

Despite facing challenges due to higher gas costs, ATGL maintained a prudent pricing strategy:

ESG Rating Upgrade

ATGL's commitment to sustainability and ESG practices has been recognized:

• CRISIL upgraded ATGL's ESG rating from 'Adequate' to 'Strong'
• The company received a CRISIL ESG score of 61

Management Commentary

Suresh Manglani, Executive Director and CEO of Adani Total Gas Limited, stated, "We remain optimistic about our growth that shapes India's energy transition journey. ATGL is committed to playing a leading role by providing affordable and reliable low carbon energy solutions for homes, industrial and commercial segments, as well as for transport mobility."

Adani Total Gas Limited continues to demonstrate strong growth and operational excellence, positioning itself as a key player in India's evolving energy landscape. The company's focus on expanding its CNG and PNG network, coupled with strategic partnerships and diversification into e-mobility and bio-business, sets a solid foundation for future growth.

Adani Total Gas Limited (ATGL), a leading player in India's city gas distribution sector, has announced strong financial results for the first quarter, demonstrating resilience and growth in a dynamic market environment.

Key Financial Highlights

ATGL reported a consolidated net profit of ₹1.65 billion for Q1, showing an increase from ₹1.55 billion in the previous quarter. The company's revenue from operations saw a significant increase, reaching ₹14.98 billion compared to ₹14.53 billion in the previous quarter.

Operational Performance

The company's overall gas volume witnessed a robust growth of 16% compared to the same period last year. This growth was primarily driven by a 21% increase in CNG (Compressed Natural Gas) volumes, underlining ATGL's strong performance in the automotive fuel segment.

EBITDA and Margin

ATGL's EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) for Q1 stood at ₹2.93 billion, higher than ₹2.66 billion in the previous quarter. The EBITDA margin improved to 19.57% from 18.22% in the previous quarter, indicating enhanced operational efficiency.

Infrastructure Expansion

The company continued its aggressive infrastructure expansion strategy:

• CNG network increased to 650 stations, with 3 new stations added during the quarter
• PNG (Piped Natural Gas) connections expanded to 9.90 lakh households, with 26,869 new homes added
• Industrial and Commercial connections grew to 9,456, with 157 new customers added
• Completed a cumulative steel pipeline network of approximately 14,197 inch-km

E-Mobility and Biomass Initiatives

ATGL is also making strides in sustainable energy solutions:

• E-mobility business expanded to 3,801 installed EV charging points across 26 states/UTs
• Commissioned the first DODO (Dealer Owned Dealer Operated) Compressed Biogas Station in Hodal, Haryana

Management Commentary

Mr. Suresh P Manglani, ED & CEO of Adani Total Gas, stated, "During the quarter, we achieved a robust year-on-year volume growth of 16%, driven by a 21% increase in CNG volumes. We are continuing expansion of our CGD networks across all 34 Geographical Areas (GAs) with over 14,000 inch-km of backbone steel pipelines, 650 CNG stations and are very close to touching 1 million consumers base."

He further added, "Looking ahead, we are focused on expanding not only our CGD infrastructure across our geographical areas but also our LNG, e-mobility solutions, and CBG (Compressed Biogas) businesses."

Future Outlook

ATGL remains committed to supporting India's energy transition by providing low-carbon solutions across industrial, household, and transportation sectors. The company's strategic partnerships, such as the recent collaboration with Jio-bp, are expected to accelerate the addition of CNG stations across its operational areas.

As ATGL continues to expand its infrastructure and diversify its energy offerings, it is well-positioned to capitalize on the growing demand for cleaner energy solutions in India's evolving energy landscape.