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Adani Total Gas Q1FY24 Results

Newz Daddy Editor
Adani gas

Adani gas

Adani Total Gas Q1FY24 Results

CNG stations increased to 467

PNG consumers increased to 7.35 lakhs

Volume increased by 8% – YoY

Highest ever Quarterly EBITDA – INR 255 Cr, up by 12% -YoY

 EDITOR’S SYNOPSIS

Operational Highlights Q1FY24 (Standalone):

Ø  CNG Stations now increased to 467, added 7 New CNG Stations

Ø  Total PNG home at 7.28 lakh, added 23,928 new homes on PNG

Ø  Industrial & Commercial connections increased to 7,615 added 180 new consumers

Ø  Completed ~ 11124 Inch Km of Steel Pipeline

Ø  Combined CNG and PNG volume of 198 MMSCM, increase of 8%

Pan India Footprint – Q1FY24 (With JV namely IOAGPL):

Ø  CNG Stations network of 748, added 11 New CNG Stations

Ø  Total PNG home at 8.72 lakh, added 27,917 new homes on PNG

Ø  Industrial & Commercial connections increased to 8,228 added 207 new consumers

Ø  Completed ~ 19732 Inch Km of Steel Pipeline

 

Financial Highlights Q1FY24 (Standalone) Y-o-Y:

Ø  Revenue from Operations at INR 1,135 Cr

Ø  EBITDA of INR 255 Cr, increased by 12%

Ø  Reported PBT of INR 199 Cr, increased by 7%

Ø  Reported PAT at INR 148 Cr , increased by 7%

Consolidated PAT

Ø  Consolidated PAT at INR 150 Cr, increased by 9%

Other Key updates

Ø  141 EV charging points have been commissioned at 40 locations.

Ø  Under bio business, we are building one of the India’s largest Biogas plant in Uttar Pradesh, whose work is in full swing and the phase 1 is likely to be commissioned in Quarter 4 of this financial year.

Award

Ø  ATGL won the FICCI Road Safety Award, 2022, in the category of ‘Outstanding Commitment in Road Safety by Corporates at a conference organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi

Ahmedabad, 1 August 2023: Adani Total Gas Ltd (“ATGL”), India’s leading City Gas Distribution company, announced today its operational and financial performance for the quarter ended 30th June 2023.

“In the beginning of the quarter effective April 2023, CGD industry saw key support from 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 significant increase in infrastructure reach, augmentation of volume and highest ever EBIDTA. With the continued constructive policy support to CGD industry coming from Government, we are confident the further growth in infra numbers and volume shall gain momentum in spreading CGD network across all our 33 Geographical Areas,” said Mr. Suresh P Manglani, ED & CEO of Adani Total Gas. “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.”

Standalone Operational and Financial Highlights:

 

Particulars UoM Q1 FY24 Q1 FY23 % Change
YoY
Operational Performance
Sales Volume MMSCM 198 183 8%
CNG Sales MMSCM 128 109 18%
PNG Sales MMSCM 70 74 -6%
Financial Performance
Revenue from Operations INR Cr 1,135 1,110 2%
Cost of Natural Gas Rs Cr 793 785 1%
Gross Profit Rs Cr 342 325 5%
EBITDA INR Cr 255 228 12%
Profit Before Tax INR Cr 199 185 7%
Profit After Tax INR Cr 148 138 7%

Results Commentary Q1 FY24 (Y-o-Y)

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