Adani Total Gas

Adani Total Gas reported robust financial results for Q4 FY26, with total revenue increasing by 16% YoY to INR 1,696 crores. For the full financial year 2025-26, revenue rose by 18% to INR 6,415 crores. EBITDA for Q4 FY26 grew by 13% to INR 310 crores, and for the full year, it increased by 5% to INR 1,225 crores. PAT for Q4 FY26 saw a 4% increase to INR 156 crores, demonstrating resilient execution despite market challenges^🌐.

The company achieved strong volume growth across its core businesses, with CNG volumes increasing by 17% YoY in Q4 FY26 and 18% for the full financial year. PNG volumes also grew by 5% in Q4 and 6% for FY26, reflecting expanding footprint and market penetration. Customer additions were a key highlight, with nearly 50,000 new domestic PNG connections added in Q4, marking the highest ever quarterly addition, contributing to a total of 1.1 million household customers for FY26.

ATGL significantly expanded its infrastructure, with steel pipeline increasing to 15,572 inch-km and MDPE pipelines to 8,300 km. The company added 25 new CNG stations in Q4, bringing the total network to 705 stations. In its e-mobility business, ATEL now operates 5,100 EV charge points across 26 states and 226 cities, supported by 54 megawatts of installed capacity, and aims to install 10,000 EV charging points in the near term.

In response to geopolitical tensions, the government prioritized PNG and CNG supply, with GAIL acting as the nodal agency. ATGL's gas sourcing portfolio for CNG (T) is diversified, with 85% of volumes met from APM, HPHT, and WG allocations, and the remaining 16% sourced from the spot market. The gas pool price for March 2026 was $12.42 per MMBtu, with imported LNG being included in the pool from late April, indicating an evolving supply landscape.

Adani Total Gas demonstrated strong ESG performance, with its CareEdge-ESG rating improving to 83 out of 100 and NSE Sustainability score to 73 from 67. The company is well-positioned to support India's transition to a gas-based economy, targeting 15% natural gas share in the energy basket by 2030. Management provided guidance for FY27, expecting EBITDA to be around INR 1,500 crores, in line with projected revenue and volume growth.

Management emphasized a 'consumer first' philosophy, ensuring uninterrupted supply and system stability while safeguarding consumers from undue risk. Despite increases in gas prices, the company calibrated its pricing to maintain reasonable profitability without fully passing on costs, which helped retain consumer confidence and sustain volume growth, with only a marginal 1% impact on industrial consumers. This approach is crucial for widening the consumer base in new geographical areas.