Adani Total Gas

Volume growth is 16% in Q1

Net sales (including other operating income) of Adani Total Gas has increased 20.35% to Rs 1378.58 crore on account of the higher volume, primarily on CNG segment.  Besides higher volume, the gas cost increased by 31% largely due to the lower allocation of APM to CNG segment being replaced by high priced New well gas and HPHT (natural gas extracted from high pressure, high temperature) gas. CNG Volume increased by 21% Y-o-Y on account of higher penetration of CNG network expansion across multiple GAs. With the addition of new PNG connections, PNG Volume has increased by 6% Y-o-Y. Overall volume has increased by 16% Y-o-Y

Operating profit margin has declined from 25.88% to 21.27%, leading to 1.11% decline in operating profit to Rs 293.18 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 62.09% to 67.56%.   Employee cost decreased from 1.29% to 0.99%.   Other expenses fell from 10.76% to 10.16%.  

Other income fell 10.09% to Rs 8.11 crore.  PBIDT fell 1.37% to Rs 301.29 crore.  Provision for interest rose 4.35% to Rs 27.6 crore. 

PBDT fell 1.92% to Rs 273.69 crore.  Provision for depreciation rose 21.63% to Rs 55.61 crore. 

Profit before tax down 6.53% to Rs 218.08 crore.  Provision for tax was expense of Rs 57.05 crore, compared to Rs 59.89 crore.  Effective tax rate was 25.66% compared to 25.84%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 3.84% to Rs 165.24 crore. 

Promoters? stake was 74.80% as of 30 June 2025 compared to 74.80% as of 30 June 2024. 

Management Comment

?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,? said Mr. Mr. Suresh P Manglani, ED & CEO of Adani Total Gas.

Full year results analysis

Net sales (including other operating income) of Adani Total Gas has increased 11.74% to Rs 4999.86 crore. 

Operating profit margin has declined from 24.67% to 22.67%, leading to 2.67% rise in operating profit to Rs 1,133.23 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 63.65% to 65.48%.   Employee cost decreased from 1.49% to 1.13%.   Other expenses rose from 10.20% to 10.73%.

Other income fell 30.03% to Rs 30.8 crore.  PBIDT rose 1.42% to Rs 1164.03 crore.  Provision for interest fell 9.69% to Rs 100.65 crore.  Loan funds rose to Rs 1,834.10 crore as of 31 March 2025 from Rs 1,557.25 crore as of 31 March 2024.  Inventories rose to Rs 115.66 crore as of 31 March 2025 from Rs 99.17 crore as of 31 March 2024.  Sundry debtors were higher at Rs 424.01 crore as of 31 March 2025 compared to Rs 409.92 crore as of 31 March 2024.  Cash and bank balance rose to Rs 468.75 crore as of 31 March 2025 from Rs 456.11 crore as of 31 March 2024.  Investments rose to Rs 810.83 crore as of 31 March 2025 from Rs 706.12 crore as of 31 March 2024  

PBDT rose 2.61% to Rs 1063.38 crore.  Provision for depreciation rose 28.95% to Rs 203.58 crore.  Fixed assets increased to Rs 5,471.43 crore as of 31 March 2025 from Rs 4,650.91 crore as of 31 March 2024.  Intangible assets increased from Rs 25.49 crore to Rs 51.93 crore. 

Profit before tax down 2.12% to Rs 859.80 crore.  Share of profit/loss was 16.03% lower at Rs 15.03 crore.  Provision for tax was expense of Rs 220.42 crore, compared to Rs 228.81 crore.  Effective tax rate was 25.20% compared to 25.53%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 1.96% to Rs 654.41 crore. 

Equity capital stood at Rs 109.98 crore as of 31 March 2025 to Rs 109.98 crore as of 31 March 2024.  Per share face Value remained same at Rs 1.00. 

Promoters? stake was 74.80% as of 31 March 2025 ,compared to 74.80% as of 31 March 2024 . 

Cash flow from operating activities increased to Rs 963.87 crore for year ended March 2025 from Rs 955.13 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 940.92 crore, compared to Rs 799.32 crore during the year ended March 2024.   

The scrip trades at Rs 626

  

Adani Total Gas : Consolidated Results
Particulars	2506 (03)	2406 (03)	Var.(%)	2503 (12)	2403 (12)	Var.(%)
Net Sales (including other operating income)	1,378.58	1,145.49	20	4,999.86	4,474.74	12
OPM (%)	21.3	25.9		22.7	24.7
OP	293.18	296.47	-1	1,133.23	1,103.72	3
Other Inc.	8.11	9.02	-10	30.8	44.02	-30
PBIDT	301.29	305.49	-1	1,164.03	1,147.74	1
Interest	27.6	26.45	4	100.65	111.45	-10
PBDT	273.69	279.04	-2	1,063.38	1,036.29	3
Depreciation	55.61	45.72	22	203.58	157.88	29
PBT	218.08	233.32	-7	859.8	878.41	-2
Share of Profit/(Loss) from Associates	4.21	-1.59	LP	15.03	17.9	-16
PBT before EO	222.29	231.73	-4	874.83	896.31	-2
EO Income	0	0	-	0	0	-
PBT after EO	222.29	231.73	-4	874.83	896.31	-2
Taxation	57.05	59.89	-5	220.42	228.81	-4
PAT	165.24	171.84	-4	654.41	667.5	-2
Minority Interest (MI)	0	0	-	0	0	-
Net profit	165.24	171.84	-4	654.41	667.5	-2
EPS (Rs)*	#	#		6.0	6.1
Notes
* EPS is on current equity of Rs 109.98 crore, Face value of Rs 1, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

 

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