Adani Total Gas Limited (ATGL) has issued a clarification regarding recent news about battery storage plans, stating that the information is not related to their company's operations or business activities.

Key Points

• ATGL responded to a news article titled "Adani plans India's biggest battery storage in Gujarat"
• The company emphasized that the news does not pertain to ATGL's operations or business activities
• ATGL stated they have no comments to offer on the matter
• The company attributed recent share price movements to market conditions

Market Impact and Disclosure Commitment

ATGL addressed the recent fluctuations in its share price, stating:

"The movement in the share price of the company is purely due to market conditions and absolutely market driven. The management of the Company neither has any control nor has any knowledge of the reasons for the movement in volume/price of shares."

The company reaffirmed its commitment to transparency, assuring investors that it will continue to make all relevant disclosures in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and its agreements with stock exchanges.

Regulatory Compliance

The clarification was issued in response to inquiries from both the BSE Limited and the National Stock Exchange of India Limited. ATGL's response aligns with its obligations under Regulation 30 of SEBI regulations, which requires prompt disclosure of material events or information.

This statement from Adani Total Gas Limited serves to dispel any potential misconceptions about the company's involvement in the reported battery storage project and reiterates its commitment to keeping investors informed about relevant developments in its business operations.

Adani Total Gas Limited (ATGL) has reported a strong operational performance for the quarter and half-year ended September 30, showcasing impressive volume growth and network expansion amid challenging weather conditions.

Volume Growth and Financial Performance

ATGL achieved a 16% overall volume growth year-on-year, with Compressed Natural Gas (CNG) volumes rising 18% in the quarter and 19% in the first half. Piped Natural Gas (PNG) volumes grew by 11% and 9% respectively. This growth translated into improved financial performance:

Network Expansion and Infrastructure Development

The company continued its network expansion strategy:

• Added 12 new CNG stations, bringing the total to 662 stations
• Added 27,000 new home PNG connections, surpassing 1 million consumers
• Expanded steel pipeline infrastructure to 14,524 kilometers across 34 geographical areas

Credit Rating Upgrade

Three major credit rating agencies - ICRA, CARE, and CRISIL - upgraded ATGL to AA+ stable rating, reflecting the company's growing scale of operations, healthy volume growth, and sound financial profile.

E-Mobility Business Growth

ATGL's e-mobility business witnessed growth:

• Expanded to 4,209 installed charging points
• Present across 26 states and 226 cities
• Achieved 42 megawatt installed capacity

Gas Sourcing and Pricing Strategy

The company reported that its combined APM (Administered Price Mechanism) and new well gas allocation moderated to 57% in the quarter from 60% in the previous quarter. To manage this, ATGL has implemented a diversified gas sourcing strategy:

• Approximately 13% Brent-linked volumes
• Around 16-17% Henry Hub-based volumes
• Flexible contracts to optimize costs and remain competitive

Supply Chain Realignment

A supply chain realignment has resulted in a 2% CST levy instead of the earlier 15% VAT for gas supplied outside Gujarat, effective from October 1. This is expected to enhance affordability for CNG and PNG home consumers.

Future Outlook

ATGL remains committed to supporting India's energy transition by delivering affordable, reliable, and cleaner energy solutions. The company's focus on infrastructure development, coupled with its flexible gas sourcing strategy and promotional schemes, positions it for continued growth in the evolving energy landscape.

As Adani Total Gas expands its presence in both traditional CGD business and e-mobility sector, it aims to capitalize on the growing demand for cleaner energy solutions in India's transportation and industrial segments.