Adani Total Gas Limited (ATGL) Q1 24/25 earnings summary

Executive summary

• Added 12 new CNG stations, expanding the network to 559 stations, with significant growth in company-owned and dealer-operated models.

• Home PNG connections increased by 38,165, now serving over 858,000 homes; industrial and commercial PNG consumers rose by 211 to 8,542.

• Pan-India footprint, including JV, now covers 2,927 CNG stations and over 1 million domestic PNG homes.

• Significant progress in e-mobility, biomass, and LNG for transport businesses, with rapid infrastructure expansion and new projects commissioned.

• Maintained a focus on digitalization, customer service, and sustainability initiatives.

Financial highlights

• Standalone revenue from operations reached ₹1,237.10 crore, up 9% year-over-year for Q1 FY25; consolidated revenue was ₹1,239.06 crore.

• EBITDA rose 21% year-over-year to ₹308 crore, driven by higher volumes and efficient gas sourcing.

• Standalone PAT grew 20% to ₹177.09 crore; consolidated PAT reached ₹171.84 crore, up from ₹150.22 crore in Q1 FY24.

• CNG volume grew 20% year-over-year to 153 MMSCM; PNG volume up 10% to 77 MMSCM.

• EBITDA margin improvement attributed to higher volumes and operational efficiency.

Outlook and guidance

• Targeting commissioning of 10 LNG stations in FY25, with the first in Tirupur, Tamil Nadu.

• Over 750 EV charging points under construction, aiming for a network spanning 23 states and 217 cities; plans to expand e-mobility charging points to over 3,000.

• Biomass and municipal solid waste projects expected to add significant capacity by FY26.

• Focus on increasing natural gas share in India's fuel mix from 7% to 15% by 2030.

• Continued focus on expanding infrastructure and leveraging upgraded credit rating for future CapEx.