2024-25 Integrated Annual Report

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Investment Case

Positioned to capitalise on the industry opportunities

India’s energy landscape is undergoing a significant transformation, driven by the shift towards cleaner fuels and ambitious sustainability goals.

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With the government aiming to increase natural gas’s share in the energy mix from 6% to 15% by 2030 and achieve net-zero emissions by 2070, we are well-positioned to capitalise on these opportunities. By accelerating CGD infrastructure expansion, investing in EV charging and biomass, and developing new Geographical Areas (GAs), we are strengthening our role in India’s energy transition. Our expertise in project execution, customer-centric operations, and financial prudence enables us to drive sweating of assets, ensuring a seamless transition to a cleaner and more sustainable energy ecosystem.

15%

Expected share of natural gas in primary energy mix by 2030

>600 MMSCMD

Natural gas consumption by 2040

~33,500 Kms

Natural gas trunk pipeline to be commissioned in India

5%

Compressed Biogas blending by 2029

30%

EV penetration by 2030

Source: PNGRB, India's Natural Gas Demand Report

Strong parentage

We drive our strength from our promoter’s expertise and best practices in project execution and operations, ensuring sustainable growth. Both promoters create strategic synergies that drive our future growth.

Investment Case

1

Strengthening CGD Business Through Nationwide Infrastructure Development

We are leveraging 20+ years of project execution expertise that exemplifies intergenerational infrastructure across 34 GAs, 95 districts.

Our Efforts

Resulting In

15%

year-on-year volume growth

9.7 lakhs

overall customer base

Investment Case

2

Strategic Financial and Capital Management

Our Efforts

  • Sweating of assets: Prioritising early monetisation of low-capex businesses while continuing to build piped network for last-mile connectivity consumers where conversion to piped gas remains virtually perpetual
  • Capital management plan: Implementing a structured capital strategy to enhance shareholder value and optimise resource allocation shareholder value and optimise resource allocation
  • Strong financial discipline: Maintaining sustained cash flows, a balanced revenue mix, and low leverage, reinforcing long-term financial resilience

Resulting in Key Financial Outcomes

  • Global financing achievement: Entered into maiden financing programme of USD 375 million executed with international lenders, including an initial commitment of USD 315 million with accordion feature to enhance the commitments to accelerate infrastructure development
  • Robust financial performance

₹7,599 crore

Total assets

25% 5 Yr CAGR

₹1,167 crore

EBITDA

13% 5 Yr CAGR

₹648 crore

PAT

8% 5 Yr CAGR

AA Credit Rating from ICRA

2 notches in 5 Yr

Low Leverage

Net Debt to EBITDA at 1.06x, ensuring asset-backed growth

Investment Case

3

Achieving Operational Excellence Through Technological Advancements

Our Efforts

  • Operational excellence through competitive gas sourcing: Diversified supply portfolio, flexible contracts, and a transparent bidding process to ensure cost efficiency and supply security
  • SOUL - A unified digital platform: Seamlessly integrates all business activities, enhancing operational efficiency, automation, and enabled data analytics
  • My AdaniGas App: This digital facilitates 98% digital consumer transactions, ensuring seamless service and real-time access

Resulting in Customer Delight

1 hour

TAT for emergency complaints

98%

Share of digital payments

Investment Case

4

Leadership in India’s Energy Transition – Diversification in Adjacent Business

Environmentally-Focussed Offerings

Commitment to providing low-carbon energy solutions like CBG, LNG, and EV charging.

  • We established Adani TotalEnergies Biomass Limited, a wholly-owned subsidiary, to drive growth in the Compressed Biogas segment and organic fertiliser production
  • We launched Adani TotalEnergies E-Mobility Limited to expand our presence in EV charging infrastructure
  • We also entered the LNG segment, catering to the transport and mining industries

Nation Building

Contributing to India’s goal of a sustainable and energy-efficient future.

Biomass Business

  • Commissioned 1st Phase of Barsana Plant of feedstock capacity of 225 TPD
  • Launched "Harit Amrit" Brand for the sale of organic fertiliser

LNG for Transport and Mining

  • Commissioned 1st LNG retail outlet in Tiruppur, Tamil Nadu and many LNG stations in various stages of progress

Investment Case

5

Commitment to ESG Principles

ESG Goals

We aim to set new benchmarks in ESG practices and strive to be ranked as a top performer across the energy utility sector. Our ESG practices are guided by nationally and internationally recognised ESG standards and disclosure frameworks.

Sustainability Initiatives

  • Our voluntary initiative of low carbon society (Greenmosphere) for promoting mass plantation and mass awareness among green millennial
  • Promoting the use of non-fossil fuels
  • Maintaining zero fatality through ongoing training
  • Zero waste to landfill
  • Installation of renewable energy

Resulting in ESG Score

Our DJSI net ESG score improved to 62 from 54, positioned in 80th percentile amongst the 143 companies.

2.7+ lakhs

Trees planted

100%

Decarbonisation of fleets in GAs where Natural Gas Ecosystem is established

Geographical presence
Business Enablers