ATGLNSEAdani Total Gas LimitedMediumNeutral
Announced Tue, 5 May · 16:47 IST

Adani Total Gas Limited has informed the Exchange about Transcript

Mgmt Guided Margin ImprovementInvestor Communications View source PDF

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AI summary

Adani Total Gas delivered strong Q4 FY26 results with revenue of INR 1,696 crores (+16% YoY) and EBITDA of INR 310 crores (+13% YoY). For full year FY26, revenue grew 18% to INR 6,415 crores while EBITDA was INR 1,225 crores (+5% YoY). CNG volumes surged 17% YoY and PNG volumes rose 5% YoY in Q4. The company added nearly 50,000 new domestic PNG connections in Q4 alone, its highest ever, taking total household connections to 1.1 million. The CNG station network expanded to 705 stations. CFO Preyash Jhaveri guided for similar revenue growth in FY27 with EBITDA expected around INR 1,500 crores. Management discussed gas pool pricing at $12.42/MMBtu for March 2026 and noted 85% of CNG gas is sourced from domestic allocations (APM, HPHT, WG) with 16% from spot markets. Management emphasized a consumer-first pricing approach, absorbing higher gas costs to maintain demand rather than passing them fully to consumers.

Likely market impact

Management provided clear FY27 EBITDA guidance of INR 1,500 crores, indicating ~22% growth expectation. The consumer-first pricing stance and strong volume growth despite geopolitical headwinds suggest operational resilience, though margin expansion may be limited as management prioritizes volume growth over immediate profitability.