Adani Total Gas Reports Strong Growth and Expansion Plans
Newzdaddy Business Updates
Adani Total Gas Q3 & 9MFY24 Results
Overall Volume up by 21% in Q3 & 13% in 9M Y-o-Y
CNG volume up by 24% in Q3 & 21% in 9M Y-o-Y
ATGL Crosses 500 CNG stations
PNG households increased to 7.79 lakh connections
Q3 EBITDA – INR 301 Cr, up 26% YoY
EV charging points spread to 10 states,46 cities
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EDITOR’S SYNOPSIS Operational Highlights 9MFY24 (Standalone): Ø CNG Stations now increased to 505, added 45 New CNG Stations Ø Total PNG home at 7.79 lakh, added 74,501 new households on PNG Ø Industrial & Commercial connections increased to 8,071 adding 636 new consumers Ø Completed ~ 11,712 Inch Km of Steel Pipeline Ø Combined CNG and PNG volume of 633 MMSCM, an increase of 13%
Financial Highlights 9MFY24 (Standalone) Y-o-Y: Ø Revenue from Operations at INR 3,556 Cr Ø EBITDA of INR 846 Cr, increased by 20% Ø PBT of INR 655 Cr, increased by 14% Ø PAT at INR 488 Cr, increased by 15% Financial Highlights Q3FY24 (Standalone) Y-o-Y: Ø Revenue from Operations at INR 1,243 Cr Ø EBITDA of INR 301 Cr, increased by 26% Ø PBT of INR 231 Cr, increased by 15% Ø PAT at INR 172 Cr, increased by 16% Consolidated PAT: 9MFY24 Ø Consolidated PAT at INR 500 Cr, increased by 11%
Pan India Footprint – 9MFY24 (With JV namely IOAGPL): Ø CNG Stations network of 835, added 98 New CNG Stations Ø Total PNG home at 9.30 lakh, added 85,581 new households on PNG Ø Industrial & Commercial connections increased to 8,781 added 760 new consumers Ø Completed ~ 20,817 Inch Km of Steel Pipeline Key Business updates Adani TotalEnergies E-mobility Limited (ATEL) Ø 329 EV charging points have been commissioned across 10 states,46 cities Ø Additional 1050+ EV charging points are under construction: o 300+ charge points to be built in 5 cities through city municipal corporations and o 750+ charge points at multiple cities are being partnered with various players which includes various EV fleet companies, Govt. Authorities, various tourism departments, etc. o With these EV networks will be spread across which 20 states, 130 cities Adani TotalEnergies Biomass Limited (ATBL) Ø Phase-1 (225 Tonnes Per Day) of India’s largest 600 TPD biomass plant in Barsana is expected to be commissioned by ATBL by the end of March 2024. Ø The preparatory work on the 500 TPD municipal solid waste project awarded by Ahmedabad Municipal Corporation has already commenced. LNG for Transport & Mining (LTM) Ø ATGL is embarking on opportunities in the LNG segment as a Transport fuel by building its 1st LNG Retail Outlet in Dahej, Gujarat which is expected to be commissioned by July 2024. Ø ATGL has developed a plan to setup an LNG station network at various strategic locations across Pan India. |
Ahmedabad, January 30, 2024:
Adani Total Gas Ltd (“ATGL”), a prominent City Gas Distribution company in India, has shared its operational and financial performance for the nine months ending on December 31, 2023.
Mr. Suresh P Manglani, Executive Director & CEO of Adani Total Gas, highlighted the company’s achievements. He mentioned that ATGL achieved a remarkable 13% year-on-year growth in volumes over the nine months. This growth was attributed to the expansion of CGD infrastructure and the company’s focus on emerging opportunities in areas like e-mobility, biomass, and LNG for Transport & Mining (LTM).
Moreover, ATGL witnessed a substantial 20% year-on-year increase in EBIDTA (Earnings Before Interest, Depreciation, Taxes, and Amortization) during the same period. This increase was the result of efficient gas-sourcing practices and careful management of operational expenses.
Mr. Manglani emphasized that ATGL’s primary focus is on ensuring easy access to natural gas through PNG (Piped Natural Gas) and CNG (Compressed Natural Gas) by accelerating infrastructure development across all Geographical Areas.
In line with its consumer-centric approach, ATGL is expanding its offerings to include LNG for Transport & Mining (LTM), in addition to e-mobility and biomass (CBG). This move aims to provide cleaner energy solutions and contribute to reducing carbon footprints across various sectors.
ATGL’s strategy is aligned with providing a wider range of cleaner energy fuels to meet the evolving needs of consumers and contribute to environmental sustainability.
The company’s commitment to growth, innovation, and sustainability positions it as a leader in the City Gas Distribution sector, driving positive change and creating value for stakeholders.
Additional Details:
- ATGL’s focus on expanding CGD infrastructure contributes to its growth in volumes.
- Efficient gas sourcing practices and cost management led to a significant increase in EBITDA.
- The company prioritizes easy access to natural gas through PNG and CNG across all Geographical Areas.
- Expansion into LNG for Transport & Mining (LTM) underscores ATGL’s commitment to cleaner energy solutions.
- ATGL’s consumer-centric approach aims to meet the evolving needs of consumers and reduce carbon footprints.
- The company’s growth, innovation, and sustainability efforts position it as a leader in the City Gas Distribution sector.
Standalone Operational and Financial Highlights:
| Particulars | UoM | 9M FY24 | 9M FY23 | % Change YoY | Q3 FY24 | Q3 FY23 | % Change YoY |
| Operational Performance | |||||||
| Sales Volume | MMSCM | 633 | 560 | 13% | 224 | 186 | 21% |
| CNG Sales | MMSCM | 408 | 338 | 21% | 144 | 116 | 24% |
| PNG Sales | MMSCM | 225 | 222 | 1% | 80 | 70 | 15% |
| Financial Performance | |||||||
| Revenue from Operations | INR Cr | 3,556 | 3,486 | 2% | 1,243 | 1,186 | 5% |
| Cost of Natural Gas | Rs Cr | 2,391 | 2,501 | -4% | 824 | 856 | -4% |
| Gross Profit | Rs Cr | 1,165 | 985 | 18% | 419 | 329 | 27% |
| EBITDA | INR Cr | 846 | 702 | 20% | 301 | 238 | 26% |
| Profit Before Tax | INR Cr | 655 | 574 | 14% | 231 | 201 | 15% |
| Profit After Tax | INR Cr | 488 | 426 | 15% | 172 | 148 | 16% |
Adani Total Gas Ltd (ATGL) has released its performance commentary for the nine months ended in FY24, highlighting notable achievements and awards.
Key Highlights:
- CNG Volume: The volume of compressed natural gas (CNG) surged by 21% compared to the previous year. This increase was driven by a reduction in CNG prices and the expansion of CNG station networks across the regions served by ATGL.
- PNG Volume: Despite challenges, the volume of piped natural gas (PNG) increased by 1%. This growth was attributed to the recovery of PNG Industrial Volume and the addition of new PNG connections in both domestic and commercial sectors.
- Overall Volume Growth: The overall volume of gas distributed by ATGL witnessed a robust 13% year-on-year increase, showcasing the company’s resilience and adaptability in the market.
- Revenue from Operations: Despite the volume growth, revenue from operations saw a modest 2% increase. This was mainly due to a reduction in gas costs, particularly APM gas, which led to lower sales prices for consumers.
- EBITDA Growth: The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 20% year-on-year. This growth can be attributed to higher volumes and a well-balanced pricing strategy implemented by ATGL.
Recognition and Awards:
- ATGL received the Climate Action Programme (CAP) – Committed category award from CII as part of the CAP 2.0 awards program. This recognition underscores the company’s dedication to climate change initiatives and sustainable practices.
- The company was also honored with the “Golden Peacock Award for HR Excellence” in 2023. This prestigious award acknowledges ATGL’s outstanding human resources practices and commitment to employee welfare.
The performance commentary and accolades reaffirm ATGL’s position as a leader in the gas distribution sector, demonstrating its commitment to excellence, sustainability, and customer satisfaction.
