Adani Total Gas Registers Record Growth Of 15 Percent, Adds 91 New CNG Stations And 1.16 Lakh PNG Homes

In FY24, Adani Total Gas expanded its CNG network to 547 stations, while also adding 91 new CNG stations.

Written by Bharat Express English April 30, 2024

Adani Group has today released the March quarter (Q4 FY24) figures of its gas company, Adani Total Gas. The company has announced its FY24 and Q4 results showing growth in various operational and financial metrics. The company’s total volumes witnessed year-on-year (YoY) growth of 15 percent in FY24 and 20 percent in Q4 FY24. In FY24, Adani Total Gas has expanded its CNG network to 547 stations, while 91 new CNG stations have also been added to it.

Number of PNG homes increased

With addition of 1.16 lakh new PNG homes in the company’s PNG, their total number increased to 8.20 lakh. The company’s industrial and commercial connections also increased, reaching 8,331 with 896 new consumers. The combined volume of CNG and PNG reached 865 MMSCM, a growth of 15 percent year-on-year. The completion of approximately 12,023 inch kilometer steel pipeline made a major contribution to its expansion.

Adani Total Gas has reported strong financial performance for FY24. According to data released by the company, revenue from operations stood at Rs 4,813 crore, while EBITDA stood at Rs 1,150 crore, showing an impressive growth of 27 percent year-on-year.

Profit increased in FY24

Profit after tax (PAT) for FY24 reached Rs 653 crore, showing a significant growth of 23 per cent year-on-year. The company continued its strong performance in Q4FY24. Revenue from operations stood at Rs 1,257 crore, while EBITDA stood at Rs 305 crore, registering a significant growth of 49 percent YoY. PAT for Q4FY24 stood at Rs 165 crore, showing a substantial growth of 59 per cent year-on-year. Consolidated PAT for FY24 reached Rs 668 crore, showing a solid growth of 22 percent. Adani Total Gas expands its operations across India in FY2024 through its joint venture with IOAGPL. With the addition of 170 new CNG stations, the number reached 903.

EV network in 217 cities of 23 states

With the addition of 1.31 lakh new families in PNG, the total number of PNG households increased to 9.76 lakh. With the addition of 1,112 new consumers, industrial and commercial connections also increased to 9,142. Additionally, the company completed approximately 21,566 inch kilometers of steel pipeline work. Adani Total Gas’ commitment towards sustainable energy solutions and its contribution to India’s energy transition is further underlined by the successful commissioning of Barasha CBG Plant Phase 1 and presence of 606 EV charging points spread across 14 states. Now the EV network will spread in 217 cities of 23 states.

P Mangalani, ED and CEO, Adani Total Gas, said, “We are fully committed to India’s energy transformation journey and are committed to building world-class infrastructure across our Geographical Areas (GAs) and diversifying into areas adjacent to our core CGD business. We are creating new business opportunities in the areas of compressed biogas, EV charging infrastructure and LNG for trucking and mining (LTM). During the quarter, we commissioned the first phase of one of India’s largest diversified feedstock-to-CBG plants at Barsana, Mathura and also expanded our e-mobility footprint across 23 states. “These are our next big growth drivers with LTM and we are continuing to execute a sustainable business plan around these new opportunities.”

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