Adani Total Gas Q3 FY22 Results

Adani Total Gas 9M FY22 Results

Revenue from Operations - Rs 2,141 Cr - increase of 83%

EBITDA - Rs 673 Cr - up by 28%

CNG stations increased to 287

Exit volume increased to 2.20 MMSCMD

 

EDITOR’S SYNOPSIS

 

Operational Highlights 9M FY22 (Standalone):

 

  • Commissioned 70 New Stations, total CNG Stations now increased to 287
  • Added 52,611 new connections, total PNG home connections surpassed 5.3 lakh mark (5.31 lakh)
  • Industrial & Commercial connections increased to 5,453 with 487 new Industrial and Commercial connections
  • Completed 4,285 Inch Km of Steel Pipeline in New GAs allotted in 9th and 10th rounds
  • Combined CNG and PNG volume of 507 MMSCM, increase of 45% >
  • Combined Exit Volume increased to 2.20 MMSCMD in Q3 FY22

     

Financial Highlights 9MFY22 (Standalone) Y-o-Y:

 

  • Revenue from Operations increased by 83% to INR 2141 Cr
  • EBITDA of Rs 673 Cr, up by 28%
  • Reported PBT of Rs 576 Cr, up by 31%
  • Reported PAT at Rs 429 Cr, up by 31%

Consolidated PAT

 

  • Consolidated PAT at Rs 428 Cr, up by 34%

Other key updates

 

  • ATGL wins 14 new Geographical Areas comprising 56 districts in 11th Round of CGD Bidding conducted by PNGRB. This makes ATGL India’s largest CGD player.

Ahmedabad, 2 February 2022: Adani Total Gas Ltd (“ATGL”), India’s leading City Gas Distribution company, announced today its operational and financial performance for the third quarter and nine months ended 31 December 2021.

 

Standalone Operational and Financial Highlights:

 

Particulars

UoM

9M FY22

9M FY21

% Change YoY
YoY

Q3 FY22

Q3 FY21

% Change YoY
YoY

Operational Performance

 

 

 

 

 

 

 

Sales Volume

MMSCM

507

349

45%

192

153

25%

CNG Sales

MMSCM

260

152

71%

101

68

47%

PNG Sales

MMSCM

248

197

26%

91

85

7%

Financial Performance

 

 

 

 

 

 

 

Revenue from Operations

INR Cr

2,141

1,170

83%

932

522

78%

EBITDA

INR Cr

673

525

28%

211

222

-5%

Profit before Tax
[Before Exceptional Item]

INR Cr

576

450

28%

177

195

-9%

Exceptional Item*

INR Cr

-

10

 

-

-

 

Profit before Tax

INR Cr

576

440

31%

177

195

-9%

Profit After Tax

INR Cr

429

327

31%

132

145

-9%

 

*During the quarter ended on 30-Sep-20 the Company received an order dated 28 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.

 

Results Commentary 9MFY22 - Y-o-Y

  • CNG Volume has increased by 71% on account of addition of new CNG stations and strong recovery of economic activity
  • PNG Volume has increased by 26% due to addition of new customers and recovery of economic activity
  • Increase of Revenue by 83% on account of higher volume coupled with increase in sales price
  • EBITDA increased by 28% on account of strong operational performance
  • For Q3 FY22, despite significant increase in the R-LNG prices, APM gas price and lower allocation of APM gas, the company registered EBITDA of Rs 211 Cr as against EBIDTA of Rs 222 Cr during the corresponding quarter of previous year.

 

“It is heartening to receive Letters of Intent (LOIs) from PNGRB for winning 14 new Geographical Areas in the 11th Round CGD,” saidMr Suresh P Manglani, CEO of Adani Total Gas. “This makes ATGL India’s leading CGD player and enables us to continue playing a key role in realising India’s vision to enhance the share of natural gas in its energy basket from 7.6% to 15% by 2030. In Q3 FY22, despite a significant increase in gas prices and lower allocation of APM gas, Team ATGL has again delivered an excellent financial and operational performance with EBIDTA of Rs 211 Cr, addition of 43 new CNG stations, surpassing of 5.3 lakh PNG home connections and connecting to 5,453 PNG industrial and commercial consumers. Overall, it has been yet another outstanding quarter for ATGL.”

Chat with us