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Adani Total Gas Results: Latest Quarterly Results & Analysis

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Adani Total Gas Ltd. 29 Oct 2025 12:18 PM
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Q2FY26 Quarterly Result Announced for Adani Total Gas Ltd.

Non-Electrical Utilities company Adani Total Gas announced Q2FY26 results

Q2FY26 Consolidated Financial Highlights:

  • Consolidated PAT stood at Rs 163 crore.

Q2FY26 Standalone Financial Highlights:

  • Revenue from Operations increased by 19%, reaching Rs 1,569 crore.
  • EBITDA stood at Rs 302 crore.
  • PAT for the quarter was at Rs 162 crore.

Suresh P Manglani, CEO & ED, ATGL, said: “Team ATGL has yet again delivered an impressive set of numbers with volume growth of 16%, revenue growth of 20% on YoY basis, and EBIDTA at Rs 603 crore, despite combined APM and NWG gas supplies moderating down to 59% in H1FY26 from 70% H1FY25 and USD further appreciating by 4% against Rs resulting to an increase in the gas cost. Home PNG numbers crossed 1 million mark and number of CNG stations reached 662 out of which 129 are of CODO/DODO category. There has been strong growth in both steel and MDPE pipelines across all our GAs.”

“Our continued focus on digitalisation across project management, operational excellence and value optimisation has helped us in delivering better physical and financial outcomes.

“While we closely monitor the evolving situation around APM gas allocation for the CNG segment, our diversified gas sourcing portfolio enables us to adopt a calibrated pricing approach, ensuring that consumer interests remain at the forefront.

“Further strengthening our position, ATGL’s long-term credit rating has been upgraded to ‘AA (Stable)’ by ICRA, with CRISIL and CARE have assigned fresh AA (Stable) ratings. These ratings reflect the agencies’ positive view of ATGL’s expanding scale, strong parentage, healthy volume growth, robust gas sourcing arrangements, and strong financial profile.”

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Non-Electrical Utilities company Adani Total Gas announced Q1FY26 results

Financial Highlights:

  • Revenue from Operations at Rs 1,491 crore, increased by 21%
  • EBITDA stood at Rs 301 crore
  • PAT for the quarter was Rs 162 crore
  • Earned a consolidated PAT of Rs 165 crore

Business Highlights:

  • CNG network reaches 650 stations, added 3 CNG stations
  • Expanded PNG home connections to 9.90 lakh, added 26,869 new homes on PNG
  • Increased Industrial & Commercial connections to 9,456 with 157 new customers added
  • Completed cumulative ~ 14,197 Inch Km of Steel Pipeline network
  • Combined CNG and PNG volume of 267 MMSCM, increase of 16%, Y-o-Y

Suresh P Manglani, ED & CEO of Adani Total Gas. said, “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. EV charging points have increased to over 3,800. This all-round superior performance was delivered while APM gas allocation for CNG was at 43% and the balance supplies were being offset with allocation of higher priced new wells and HPHT (High Pressure High Temperature) gas. As a result of our continued efforts to build a robust gas sourcing portfolio, enhanced operational efficiency and digitalisation of processes, we have ensured 100% reliability of supply and continuation of prudent pricing to our consumers both for PNG and CNG. Happy to note that Team ATGL has delivered sustained stable EBITDA even as gas prices rose sharply year-on-year.

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. During the quarter, we commissioned our first CBG station in Haryana.

Additionally, our recent partnership with Jio-bp, which will see both partners offering each other's fuel options at select outlets, is expected to help us accelerate addition of DODO and CODO CNG stations with Jio-bp fuels across all our 34 GAs.

“We remain fully committed to supporting India’s energy transition by providing low-carbon solutions across industrial, household, and transportation sectors,”

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Non-Electrical Utilities company Adani Total Gas announced Q4FY25 & FY25 results

Q4FY25 Standalone Financial Highlights:

  • Revenue from Operations increased by 15%, reaching Rs 1,448 crore
  • EBITDA stood at Rs 274 crore
  • PAT for the quarter was Rs 149 crore

Q4FY25 Consolidated Financial Highlights:

  • Earned a consolidated PAT of Rs 155 crore

FY25 Standalone Financial Highlights::

  • Revenue from Operations increased by 12%, reaching Rs 5,398 crore
  • EBITDA rose by 1% to Rs 1,167 crore
  • PAT declined by 1%, reaching Rs 648 crore

FY25 Consolidated Financial Highlights::

  • Earned a consolidated PAT of Rs 654 crore

Suresh P Manglani, ED & CEO, ATGL. Said “During the year, Team ATGL has continued its thrust to expand access of PNG and CNG to large masses. ATGL has now expanded its infrastructure across CGD (close to 1 million PNG consumers and 647 CNG stations). ATGL has maintained momentum of delivering robust operational and infrastructure performance with a 15% year-on-year increase in volume, accelerating operations excellence supported by digitalization which has contributed in maintaining EBITDA of Rs 1,167 crore despite challenges faced by CGD sector on domestic gas allocation.

Furthermore, ATGL made significant progress in its new sustainable businesses. In e-mobility, 3,401 charging points have been installed out of which 2,338 EV charging points are energized. In Biomass, besides stabilizing CBG production at Barsana plant, we have launched brand “Harit Amrit” for sale of an organic fertilizer. We have commissioned our 1 st LNG station in Tiruppur. All the above efforts are in line with our commitment to spearhead India’s energy mobility transition journey with customer centric approach and continue to have sustainable growth.”

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Non-Electrical Utilities company Adani Total Gas announced Q3FY25 results

Q3FY25 Financial Highlights:

  • Revenue from Operations increased by 12%, reaching Rs 1,397 crore.
  • EBITDA stood at Rs 272 crore.
  • PAT for the quarter was Rs 143 crore.
  • Earned consolidated PAT of Rs 142 crore.

Suresh P Manglani, ED & CEO, ATGL, said: “ATGL maintained its growth trajectory, focusing on customer centric approach and delivering a robust operational performance with a notable 15% YoY increase in volume. Despite the reduced APM gas allocation, Team ATGL ensured an uninterrupted supply of CNG to our large masses of consumers by sourcing additional supplies of gas through alternative options. The key to us is to calibrate the end prices balancing the affordability of end consumers and other stakeholders including profitability of the Company which is evident from our growth in the volumes of 15% and EBIDTA growth of 6% for 9 months period on YoY basis. We are striving to further accelerate development of PNG and CNG infrastructure across our 34 GAs, including the recently added Jalandhar GA in Punjab.”

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Non-Electrical Utilities company Adani Total Gas announced Q2FY25 results

Q2FY25 Financial Highlights:

  • Revenue from Operations increased by 12%, reaching Rs 1,315 crore.
  • EBITDA rose by 8% to Rs 313 crore.
  • PAT increased by 6%, reaching Rs 178 crore.
  • Consolidated PAT at Rs 186 crore, increased by 7% YoY.

H1FY25 Financial Highlights:

  • Revenue from Operations increased by 10%, reaching Rs 2,553 crore.
  • EBITDA rose by 14% to Rs 621 crore.
  • PAT increased by 13%, reaching Rs 355 crore
  • Consolidated PAT at Rs 357 crore, increased by 11% YoY.

Operational Highlights:

  • Q2FY25 Volume up 15% YoY.
  • Increased CNG stations to 577 by adding 18 new stations.
  • Expanded PNG home connections to 8.93 lakh, by adding 34,468 new households.
  • 1,486 EV charging points spread across 21 states.
  • Commissioned First LNG Retail Station for transport vehicles.
  • Q2FY25 EBITDA stood at Rs 313 crore.
  • Completed cumulative ~ 12,516 Inch Km of Steel Pipeline network.
  • Combined CNG and PNG volume of 242 MMSCM, a 15% increase YoY
  • Enhanced virtual network capacity to 3 operational units, by adding one more LCNG/LPNG unit in Lunavada, Kheda. This improves last mile connectivity for PNG Consumers.

Suresh P Manglani, CEO & ED, ATGL, said: “ATGL has reported healthy operational and financial performance during the quarter. Our business is closely aligned with India’s energy transition goals which we are delivering by providing cleaner and greener energy solutions to all our consumers. We now reach over 9 lakh consumers through our piped gas network supplying uninterrupted piped natural gas. We have commissioned our first LNG station for the transportation segment and progressing towards covering key highway networks aiding India’s decarbonization march.

Following the recent reduction in APM gas allocation, which caters to auto CNG and home PNG consumers, we are closely monitoring the situation and given our diversified gas sourcing portfolio, we will ensure a calibrated pricing approach to balance the interest of our consumers”

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Non-Electrical Utilities company Adani Total Gas announced Q1FY25 results:

Consolidated:

  • Consolidated PAT at Rs 172 crore, increased by 14% YoY

Standalone:

  • Revenue from Operations at Rs 1,237 crore, increased by 9%
  • EBITDA of Rs 308 crore, increased by 21%
  • PAT at Rs 177 crore, increased by 20%

Operational Highlights:

  • CNG Stations now increased to 559, added 12 new CNG Stations
  • Total PNG home at 8.58 lakh, added 38,165 new homes on PNG
  • Industrial & Commercial connections at 8,542 added 211 new consumers
  • Completed ~ 12,244 Inch Km of Steel Pipeline
  • Combined CNG and PNG volume of 230 MMSCM, increase of 17%, YoY 

Suresh P Manglani, ED & CEO of Adani Total Gas, said: “It has been a good start for FY25 as ATGL delivered a robust operational and financial performance by achieving a 21% YoY EBITDA growth on the back of 17% volume growth,”

“During the quarter, ATGL received approval from regulator for the transfer of Letter of Authorization for Jalandhar Geographical Area (GA) which provides high volume growth opportunity to the Company. We have also crossed a significant milestone of 1000 EV charging points, reaching 1212 EV charging points across multiple locations.

“We continue to see more traction on natural gas as we further build CGD infrastructure and penetrate deeper across multiple GAs. With newer sustainable energy in form of E-mobilty, LNG and Biomass, we remain fully committed to provide a sustainable energy platform to our consumers and playing a leading role in the country’s energy transition journey.”

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Non-Electrical Utilities company Adani Total Gas announced Q4FY24 & FY24 results:

FY24 Financial Highlights:

  • Revenue from Operations at Rs 4,813 crore
  • EBITDA of Rs 1,150 crore, increased by 27%
  • PAT at Rs 653 crore, increased by 23%
  • Consolidated PAT at Rs 668 crore, increased by 22% 

Q4FY24 Financial Highlights:

  • Revenue from Operations at Rs 1,257 crore
  • EBITDA of Rs 305 crore, increased by 49%
  • PAT at Rs 165 crore, increased by 59%

Suresh P Manglani, ED & CEO of Adani Total Gas, “We are fully committed to India’s energy transition journey and continue to invest in creating world class infrastructure across our Geographical Areas (GAs) and diversifying into areas adjacent to our core CGD business. We are incubating new business opportunities in the areas of Compressed Biogas, EV Charging Infrastructure, and LNG for trucking and Mining (LTM). During the quarter, we commissioned the 1st phase of one of the India’s largest diversified feedstock-to-CBG plant at Barsana in Mathura and also expanded our E-Mobility footprint to 23 states. These, along with LTM are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities,” he added.

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Non-Electrical Utilities company Adani Total Gas announced Q3FY24 & 9MFY24 results:

Standalone Q3FY24:

  • Revenue from Operations at Rs 1,243 crore
  • EBITDA of Rs 301 crore, increased by 26%
  • PBT of Rs 231 crore, increased by 15%
  • PAT at Rs 172 crore, increased by 16%

Standalone 9MFY24:

  • Revenue from Operations at Rs 3,556 crore
  • EBITDA of Rs 846 crore, increased by 20%
  • PBT of Rs 655 crore, increased by 14%
  • PAT at Rs 488 crore, increased by 15%

“With the expansion of CGD infrastructure, together with seizing opportunity in the areas of emobility, biomass, and LNG for Transport & Mining (LTM), ATGL has once again delivered a double-digit growth in volumes of 13% Y-o-Y on nine monthly basis. The rise in volume coupled with efficient gas sourcing and an ‘eye’ on opex has led to an increase in EBIDTA by 20% YoY in nine months. Company’s present priority is to focus on providing easy access to natural gas in the form of PNG and CNG by fast-tracking the infrastructure development in all our Geographical Areas,” said Suresh P Manglani, ED & CEO of Adani Total Gas.

He added, “With our consumer-centricity approach, apart from e-mobility and biomass (CBG) we are now also embarking upon LNG for Transport & Mining (LTM). ATGL will provide decarbonizing solutions for various entities and help in reducing carbon footprint. Our strategy will be to offer a wider range of cleaner energy fuel to all our consumers”.

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Non-electrical Utilities company Adani Total Gas announced Q2FY24 & H1FY24 results:

  • Standalone Q2FY24:
    • Revenue from Operations at Rs 1,178 crore
    • EBITDA of Rs 290 crore, increased by 23%
    • Reported PBT of Rs 225 crore, increased by 20%
    • Reported PAT at Rs 168 crore, increased by 20%
  • Standalone H1FY24:
    • Revenue from Operations at Rs 2,313 crore
    • EBITDA of Rs 545 crore, increased by 17%
    • Reported PBT of Rs 424 crore, increased by 14%
    • Reported PAT at Rs 315 crore, increased by 14%
  • Consolidated PAT of H1FY24 at Rs 323 crore, increased by 8%
  • CNG Stations now increased to 483, added 23 New CNG Stations
  • Total PNG home at 7.56 lakh, added 51,801 new homes
  • Industrial & Commercial PNG connections increased to 7,849 added 414 new consumers
  • Completed ~ 11,448 Inch Km of Steel Pipeline
  • Combined CNG and PNG volume of 409 MMSCM, an increase of 9%

ATGL has shown continuance of all round strong performance in our core CGD business. The volumes have increased by 9% during the first half year of this financial year resulting in an increase of EBITDA by 17% to Rs 545 crore. The company is continuing its focus on building PNG and CNG infrastructure across all its Geographical Areas to extend easy access of PNG and CNG giving boost to adaptation of natural gas as a fuel of their choice by the large numbers of PNG and CNG consumers.” said Suresh P Manglani, ED & CEO of Adani Total Gas.

 

 

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Non-Electrical Utilites company Adani Total Gas announced Q1FY24 results:

  • CNG Stations now increased to 467, added 7 New CNG Stations
  • Total PNG home at 7.28 lakh, added 23,928 new homes on PNG
  • Industrial & Commercial connections increased to 7,615 adding 180 new consumers
  • Completed ~ 11,124 inch km of Steel Pipeline
  • Combined CNG and PNG volume of 198 MMSCM, an increase of 8%
  • Revenue from Operations at Rs 1,135 crore
  • EBITDA of Rs 255 crore, increased by 12%
  • Reported PBT of Rs 199 crore, increased by 7%
  • Reported PAT at Rs 148 crore, increased by 7%
  • 141 EV charging points have been commissioned at 40 locations

“At the beginning of the quarter effective April 2023, the CGD industry saw key support from the Government of India notifying the stability of APM prices with floor and cap which helped ATGL to reduce the prices of PNG and CNG making it more affordable for end consumers to opt for cleaner fuel as their preferred choice. Despite challenges emerging from softening of alternate fuels, Team ATGL achieved excellent physical and financial results with a significant increase in infrastructure reach, augmentation of volume, and highest-ever EBIDTA. With the continued constructive policy support to the CGD industry coming from Government, we are confident the further growth in infra numbers and volume shall gain momentum in spreading the CGD network across all our 33 Geographical Areas,” said Suresh P Manglani, ED & CEO of Adani Total Gas.

He added, “With the consumer-centricity approach, we have expanded our horizons by increasing our reach/footprint in core CGD business and beyond natural gas through setting up EV charging stations, converting waste to CBG and exploring to set up LNG stations for long haul heavy vehicles, offering a wider range of sustainable energy solutions to all our consumers.”

 

 

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