Adani Total Gas Reports 19% Rise In Q2 Revenue; Volumes Increase By 16%

Adani Total Gas Ltd (ATGL), a key player in India’s energy transition under the Adani Group, announced a robust 19% growth in revenue from operations for the second quarter of FY26.

The company’s revenue rose to ₹1,569 crore, driven by a 16% increase in combined CNG and PNG volumes during the July–September period.

The company continued to expand its infrastructure footprint, increasing the number of CNG stations to 662 across its geographical areas.

PNG connections also witnessed steady growth, crossing the one-million mark with 1.02 million households now connected to the city gas network.

ATGL recorded a rise in industrial and commercial connections, reaching 9,603, with 147 new consumers added in the September quarter.

CEO and Executive Director Suresh P. Manglani attributed this strong performance to the company’s operational excellence and strategic expansion.

“Team ATGL has yet again delivered an impressive set of numbers with 16% volume growth and 20% revenue growth in the first half of FY26. This achievement comes despite a moderation in APM and NWG gas supplies and the appreciation of the US dollar, which increased gas costs,” Manglani stated.

Operational Efficiency and Technological Focus

Manglani emphasised that ATGL’s ongoing focus on digitalisation, project management, and value optimisation had enabled stronger operational and financial results.

The company’s expansion in steel and MDPE pipelines across its licensed areas contributed significantly to its capacity and service reach.

ATGL also reported growth in its electric vehicle infrastructure, with installed EV charging points increasing to 4,209.

Despite challenges such as rising gas costs and exchange rate fluctuations, the company achieved an EBITDA of ₹302 crore in Q2 FY26 through calibrated pricing strategies and operational efficiency.

“While we closely monitor the evolving situation around APM gas allocation for the CNG segment, our diversified gas sourcing portfolio enables us to adopt a calibrated pricing approach, ensuring that consumer interests remain at the forefront,” Manglani explained.

This diversified approach has allowed ATGL to manage input cost pressures effectively, maintaining stable consumer pricing while supporting growth across its business segments.

Strong Financial Position and Upgraded Ratings

Reflecting investor confidence and sound financial management, ATGL’s long-term credit rating has been upgraded to AA+ (Stable) by ICRA, while CRISIL and CARE have also assigned fresh AA+ (Stable) ratings.

“These ratings highlight the agencies’ positive outlook on ATGL’s expanding scale, strong parentage, healthy volume growth, and robust financial profile,” Manglani noted.

As one of India’s leading energy transition companies, ATGL continues to strengthen its presence in the city gas distribution and EV charging sectors.

Its focus on clean energy infrastructure, technological innovation, and sustainability aligns with India’s broader goal of achieving a greener and more resilient energy ecosystem.

Through continued expansion and operational excellence, ATGL remains poised to play a pivotal role in shaping the future of India’s gas-based economy.

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