Adani Total Gas Q2 FY22 Results

Adani Total Gas Q2 FY22 Results

Revenue from Operations - INR 687 Cr increase of 56%

EBITDA - INR 246 Cr increase of 13%

CNG Stations increased to 244

Exit volume during Q2 increased to 2.09 MMSCMD

from 1.79 MMSCMD in Q1

 

EDITOR’S SYNOPSIS

 

Operational Highlights Q2 FY22 (Standalone) Y-o-Y:

 

  • Commissioned 20 New Stations, the total CNG Stations now increased to 244
  • Added 18,659 new connection, total PNG Home Connection surpassed 5 lakh mark (5.06 lakh)
  • Industrial & Commercial connection increased to 5,264 with 199 new Industrial and Commercial connection in Q2
  • Completed 3535 Inch Km of Steel Pipeline in New GAs allotted in 9th and 10th round
  • Combined CNG and PNG volume of 175 MMSCM, rise of 33%
  • Combined Exit Volume increased to 2.09 MMSCMD in Q2FY22 from 1.79 MMSCMD in Q1FY22, arise of 17%

     

    Financial Highlights Q2 FY22 (Standalone) Y-o-Y:

     

  • Revenue from Operations increased by 56% to INR 687 Cr
  • EBITDA increased by 13% to INR 246 Cr
  • PBT increased by 17% to INR 213 Cr
  • PAT increased by 17% to INR 159 Cr

    Consolidated PAT

  • Consolidated PAT increased by 18% to INR 158 Cr

Ahmedabad, October 28, 2021: Adani Total Gas Limited (“ATGL”), one of India’s leading private companies in the gas utility sector in India announced today its operational and financial performance for the second quarter ended 30th September 2021.

 

Commenting on the quarter result of the Company, Mr Gautam Adani, Chairman, Adani Group said, “I have very little doubt that gas will continue to play an increasingly important role in India’s energy mix. The ability to distribute gas across the nation is an essential benefit that the Adani Group and TotalEnergies will bring to the people. I’m excited about the possibilities as we move deeper and deeper into all the different Tier 2 and Tier 3 cities and provide them a cleaner fuel. Gas is also a fuel that can have a significant impact on how rural India will live in the future. We are committed to becoming a leader in this sector.”

 

Standalone Operational and Financial Highlights:

 

Particulars

UoM

Q2 FY22

Q2 FY21

% Change
YoY

H1 FY22

H1 FY21

% Change
YoY

Operational Performance

 

 

 

 

 

 

 

Sales Volume

MMSCM

175

131

33%

315

196

163%

CNG Sales

MMSCM

91

59

54%

159

83

173%

PNG Sales

MMSCM

84

72

17%

157

112

157%

Financial Performance

 

 

 

 

 

 

 

Revenue from Operations

INR Cr

687

441

56%

1,209

648

175%

EBITDA

INR Cr

246

218

13%

462

303

147%

Profit before Tax
[Before Exceptional Item]

INR Cr

213

192

11%

399

255

153%

Exceptional Item*

INR Cr

-

10

 

-

10

 

Profit before Tax

INR Cr

213

182

17%

399

245

158%

Profit After Tax

INR Cr

159

136

17%

297

182

159%

 

*During the quarter ended on 30-Sep-20 the Company received an order dated 28th August 2020 from the Hon’ble Supreme Court of India with respect to Service Tax liability on gas connection income pertaining to FY 2008-09.

 

Corporate Governance - Board Charter

In the journey of continuingly strengthening ATGL governance, the board has approved the following:

 

 

Committee

Existing Composition

Revised Composition

Nomination & Remuneration Committees

60% Independent Directors

100% Independent Directors

CSR Committee

50% Independent Directors

60% Independent Directors

Risk Management Committees

33% Independent Directors

50% Independent Directors
  • New Board Committees:

Committee

Composition

Corporate Responsibility Committee

100% Independent Directors

Public Consumers Committee

100% Independent Directors

Infotech & Data Security Committee

100% Independent Directors

Sub-Committees to Risk Management Committee –

M&A; Legal, Regulatory & Tax; Commodity Price Risk and Reputation Risk Committees

Atleast 50% Independent Directors

 

Mr Suresh P Manglani, CEO of Adani Total Gas said despite significant volatility in international gas prices and Covid-related challenges on the ground being faced in rolling out the infrastructure development, albeit lesser than previous quarters, Team ATGL has yet again delivered all-round excellent performance for Q2FY22 with the delivery of 20 new CNG stations, surpassing of 5 lakh PNG home connections mark and deliver of highest ever EBIDTA of INR 246 Crs in Q2. There is a significant increase in our CNG stations numbers and steel pipeline laying during the quarter. ATGL also executed, during the quarter, a joint venture agreement with 50% shareholding for setting up of manufacturing facility for mechanical and smart gas meters under Atmanirbhar Bharat initiative. Further, ATGL also has signed a definitive agreement for exclusive collaboration for setting up a bio-conversion plant in Barsana having India’s largest cow shelter with around 60,000 cows in a single location.”

 

 

About Adani Total Gas

 

Adani Total Gas Limited is one of India’s leading private players in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to Industrial, Commercial, Domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector. Given its gas distribution mandate catering to 38 Geographical Areas (GAs) which accounts for 8% of India’s population, ATGL plays a significant role in the nation’s efforts in enhancing the share of natural gas in its energy mix. Of these 38 GAs, 19 are managed by ATGL and the rest are managed by Indian Oil-Adani Gas Private Limited (IOAGPL) – a 50:50 joint venture between Adani Total Gas Limited and Indian Oil Corporation Limited.

 

For more information, please visit https://www.adanigas.com/

 

For Media Queries:  Roy Paul I roy.paul@adani.com

For Investor Queries:  Priyansh Shah I priyansh.shah@adani.com

 

Chat with us