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Adani Total Gas

Adani Total Gas H1FY25 & Q2 Results

Ahmedabad

24 October 2024

Q2FY25 Volume up 15% YoY

CNG network increases to 577 stations

PNG household increased to 8.93 lakh homes

1,486 EV charging points spread across 21 states

Commissioned First LNG Retail Station for transport vehicles

Q2FY25 EBITDA stood at INR 313 Crs

ATGL provides Digital Delight, with 98% consumer collections and engagement coming through My Adani Gas App integrated with its homegrown Digital Business Platform - SOUL

~93% of CNG sales are managed through SOUL platform

Operational Highlights Q2FY25 (Standalone):

  • Increased CNG stations to 577 by adding 18 new stations
  • Expanded PNG home connections to 8.93 lakh, by adding 34,468 newhouseholds
  • Increased Industrial & Commercial connections to 8,746 with 204 new consumers added
  • Completed cumulative ~ 12,516 Inch Kmof Steel Pipeline network
  • Combined CNG and PNG volume of 242 MMSCM, a 15% increase Y-o-Y
  • Enhanced virtual network capacity to 3 operational units, by adding one more LCNG/LPNG unit in Lunavada, Kheda. This improves last mile connectivity for PNG Consumers

Pan India Footprint –Q2FY25 (With JV namely IOAGPL):

  • Combined network of 958 CNG Stations, with 31 new stations added
  • PNG home connections cross 1 million mark to 1.06 million, touching over 4 million lives on a daily basis.
  • Grew Industrial & Commercial connections to 9719, by adding 273new consumers
  • Completed cumulative ~ 22,608 Inch Kmof Steel Pipeline network

Hydrogen Blending and LTM Business Update

  • Operationalized H2 blending pilot program in Ahmedabad with expected production of ~ 16 Kg / Day, which will be supplied to ~ 4000 PNG consumers
  • Commissioned 1st LNG retail outlet in Tiruppur. Two more are under construction in Dahej and Mundra

Key Business updates

  • In September’24, ATGL secured the largest global financing in India’s City Gas Distribution Business of USD 375 Mn to accelerate network infrastructure development program
  • With effect from 16 October 2024, there has been lower allocation of APM gas by 16% as compared to earlier allocation. While such lower allocation could impact the profitability going forward, ATGL is closely examining the situation and will calibrate it’s retail prices to mitigate the impact and will explore opportunities to seek competitive gas to ensure uninterrupted supply

Adani TotalEnergies E-mobility Limited (ATEL)

  • 1486 EV charging points have been commissioned across 213 cities

Digitalization and Customer Delight Highlights

  • ATGL provides Digital Delight, with 98% consumer collections and engagement coming through My Adani Gas App integrated with its homegrown Digital Business Platform – SOUL
  • More than 93% of our CNG sales are now managed through the Soul Digital platform. This encompasses continuous monitoring of vital performance parameters
  • Also launched self-service KIOSK at our service centers and call center operations for EV charging business

Financial Highlights Q2FY25 (Standalone) Y-o-Y:

  • Revenue from Operations increased by 12%, reaching INR 1315 Cr,
  • EBITDA rose by 8% to INR 313 Cr,
  • PAT increased by 6%, reaching INR 178 Cr

Consolidated Q2FY25 PAT

  • Consolidated PAT at INR 186 Cr, increased by 7% Y-o-Y

Financial Highlights H1FY25 (Standalone) Y-o-Y:

  • Revenue from Operations increased by 10%, reaching INR 2,553 Cr,
  • EBITDA rose by 14% to INR 621 Cr,
  • PAT increased by 13%, reaching INR 355 Cr

Consolidated H1FY25 PAT

  • Consolidated PAT at INR 357 Cr, increased by 11% Y-o-Y

Adani Total Gas (ATGL), India’s leading energy transition company, continues its mission of transforming India's energy landscape through extensive infrastructure development. Today ATGL announced its operational, infrastructural and financial performance for the quarter and half year ended 30th September 2024.

“ATGL has reported healthy operational and financial performance during the quarter. Our business is closely aligned with India’s energy transition goals which we are delivering by providing cleaner and greener energy solutions to all our consumers. We now reach over 9 lakh consumers through our piped gas network supplying uninterrupted piped natural gas. We have commissioned our first LNG station for the transportation segment and progressing towards covering key highway networks aiding India’s decarbonization march.

Following the recent reduction in APM gas allocation, which caters to auto CNG and home PNG consumers, we are closely monitoring the situation and given our diversified gas sourcing portfolio, we will ensure a calibrated pricing approach to balance the interest of our consumers” said Mr. Suresh P Manglani, CEO & ED, ATGL.

Standalone Operational and Infrastructural Highlights
Particulars UoM H1 FY25 H1 FY24 % Change YoY Q2 FY25 Q2 FY24 % Change YoY
Operational Performance
Sales Volume MMSCM 472 408 16% 242 211 15%
CNG Sales MMSCM 315 264 20% 162 136 19%
PNG Sales MMSCM 157 144 9% 80 75 7%
Standalone Operational and Infrastructural Highlights
Particulars UoM As on 30 Sep’ 24 H1 Additions Q2 Additions
Infrastructure Performance
CNG Stations Nos. 577 30 18
MSN (IK) Nos. 12,516 493 272
Domestic-PNG Nos. 8,93,000 72,633 34,468
Commercial -PNG Nos. 5,914 288 142
Industrial-PNG Nos. 2,832 127 62

Operations Commentary – Q2FY25

  • CNG Volume increased by 19% Y-o-Y on account of network expansion across multiple Geographical Areas (GAs).
  • With stabilization of gas prices, there has been an increase in consumption of PNG Industrial volume, and coupled with the addition of new PNG connection in domestic and commercial segments, PNG Volume has increased by 7% Y-o-Y
  • Overall volume has increased by 15% Y-o-Y
Standalone Operational and Infrastructural Highlights
Particulars UoM H1 FY25 H1 FY24 % Change YoY Q2 FY25 Q2 FY24 % Change YoY
Financial Performance
Revenue from Operations INR Cr 2,553 2,313 10% 1,315 1,178 12%
Cost of Natural Gas INR Cr 1,675 1,567 7% 871 775 12%
Gross Profit INR Cr 878 746 18% 444 403 10%
EBITDA INR Cr 621 545 14% 313 290 8%
Profit Before Tax INR Cr 477 424 13% 240 225 7%
Profit After Tax INR Cr 355 315 13% 178 168 6%

Results Commentary Q2FY25

  • Revenue from operations rose by 12% on account of higher volume and sales realization
  • Despite higher volume, Cost of Natural gas rose by 12% due to balance gas portfolio across multiple indices
  • EBITDA rose by 8% to INR 313 Cr, supported by volume growth due to infrastructure expansion and operational efficiency

Key ESG Highlights

  • Rainwater Harvesting infrastructure to be an integral part towards development of new assets
  • Maintained 100% of Light Commercial Vehicles (520 Nos) on CNG as fuel for transportation of Cascades to Stations
  • 961 Km covered for methane leak detection & Repair.
  • Through Greenmosphereprogram, 1150 trees were planted across stations
  • Total 18,963 training man hours conducted through 705 safety training programs

About Adani Total Gas

Given its gas distribution, ATGL is authorised in 34 Geographical Areas and plays a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix. Of the 53 GAs, 34 are owned by ATGL and the balance 19 GAs are owned by Indian Oil-Adani Gas Private Limited (IOAGPL) – a 50:50 joint venture between Adani Total Gas Limited and Indian Oil Corporation Limited. Further, ATGL has formed 2 wholly owned subsidiaries namely Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and Biomass Business respectively. ATGL has also formed a 50:50 joint venture, namely Smart Meter Technologies Private Limited for its gas meter manufacturing business.