Adani Total Gas H1 FY23 Results

PNG Domestic consumers crossed 6 lakh

CNG stations increased to 367, Steel Inch KM crossed 10000 mark

CNG Volume up by 40%

Revenue from Operations - INR 2,301 Cr - increase of 90%

EBITDA - INR 464 Cr



EDITOR'S SYNOPSIS

    Operational Highlights H1FY23 (Standalone):

  • With addition of 33 new CNG stations, tally of CNG stations increased to 367 with 69 DODO/CODOs stations
  • Added over 61000 more homes to PNG increasing PNG Home connections to over 6.25 lacs
  • Provided PNG to 412 new businesses and Industries, total Industrial & Commercial connections increased to 6,088
  • Completed over 10000 Inch Km of Steel Pipeline
  • Combined CNG and PNG volume of 374 MMSCM, increase of 19%

     

    Financial Highlights H1FY23 (Standalone) Y-o-Y:

  • Revenue from Operations increased by 90% to INR 2,301 Cr
  • EBITDA of INR 464 Cr
  • Reported PBT of INR 373 Cr
  • Reported PAT at INR 277 Cr

    •  

    Consolidated PAT

    Consolidated PAT at INR 298 Cr

     

    Other Key updates

  • Completed Incorporation of 2 New SPVs namely – Adani TotalEnergies E-mobility Ltd (ATEEL) and Adani TotalEnergies Biomass Ltd (ATEBL), as 100% wholly owned subsidiaries of ATGL
  • EV charging stations at various Airports and strategic locations, targeting 1500 Charging stations
  • ATGL has been awarded the Good Corporate Citizen Award for the year 2022 by PHD Chamber of Commerce and Industry (PHDCCI).
  • ATGL received DJSI rating becoming the first CGD company to receive such an ESG assessment from an international agency. ATGL has published its maiden Sustainability Report.

Ahmedabad, 3 November 2022: Adani Total Gas Ltd (“ATGL”), India’s leading City Gas Distribution company, announced today its operational and financial performance for the half yearly and quarter ended 30 September 2022.

 

“ATGL continued with full vigour and resilience in significantly augmenting and investing in creating backbone CGD infrastructure across all its Geographical Areas with crossing 6.25 lakh PNG Home Connections mark, crossing of 10,000 inch-km of steel pipeline, enhancing PNG supplies to 6,088 businesses/industries and enhancing CNG footprint to 367 stations,” said Mr Suresh P Manglani, CEO of Adani Total Gas. “The CGD industry continues to face a challenging scenario with significantly higher input gas prices mainly due to geopolitical factors as well as supply shortages across the globe. In the face of such challenges, we have been able to maintain our EBITDA on half yearly basis due to growth in volume. We believe that these challenges are for the short term and that the infrastructure that we create is for generations to come as we continue to march with the nation on its journey towards a gas-based economy.”

 

Standalone Operational and Financial Highlights:

Particulars

UoM

H1
FY23

H1
FY22

% Change
YoY

Q2 FY23

Q2 FY22

% Change
YoY

Operational Performance

 

 

 

 

 

 

 

Sales Volume

MMSCM

374

315

19%

191

175

9%

CNG Sales

MMSCM

222

159

40%

113

91

25%

PNG Sales

MMSCM

152

157

-3%

77

84

-8%

Financial Performance

 

 

 

 

 

 

 

Revenue from Operations

INR Cr

2,301

1,209

90%

1,190

687

73%

Cost of Natural Gas

INR Cr

1,645

609

170%

860

364

136%

Gross Profit

INR Cr

656

601

9%

330

323

2%

EBITDA

INR Cr

464

462

0%

236

246

-4%

Profit before Tax

INR Cr

373

399

-6%

188

213

-12%

Profit After Tax

INR Cr

277

297

-7%

139

159

-12%

 

Results Commentary H1 FY23 (Y-o-Y)

  • CNG Volume has increased by 40% Y-o-Y on account of increased consumption along with network expansion of CNG stations
  • PNG Volume has decreased by 3% Y-o-Y due to curtailment of gas supplies from our suppliers and high gas prices
  • Increase of Revenue by 90% on account of higher volume coupled with increase in sales price
  • Cost of gas increased by 170% majorly on account of replacement of APM price with UBP price for CNG and Domestic PNG segment along with increase in R-LNG price which is procured for Industrial and Commercial segment
  • In spite of high gas prices, ATGL adopted a calibrated pass through pricing strategy and as a result sustained its overall volume growth and EBITDA of INR 464 Crs on Y-o-Y basis
  • ATGL continued its effort to have efficient gas sourcing to reduce the impact of volatility in gas prices

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