Adani Total Gas 9M & Q3FY26 Results

Ahmedabad, 22 January 2026: Adani Total Gas (ATGL), India’s leading energy transition company, continues its mission of transforming India’s energy landscape through extensive infrastructure development. Today, ATGL announced its operational, infrastructural and financial performance for the quarter and nine months ended 31^st December 2025.

“Team ATGL has delivered yet another strong quarter with double‑digit growth in volumes, revenue, and EBITDA. Despite continued lower availability of APM gas and higher Henry Hub-linked RLNG prices, our diversified sourcing strategy enabled us to manage the gas basket efficiently and ensure uninterrupted supplies of PNG and CNG to all our customers. Our e-Mobility team has also put in an excellent set of numbers with installed Charge Points now nearing 5000 mark with 51 MW capacity.

“Supportive regulatory changes, including effective reduction in tax on natural gas transported outside Gujarat and the new and simplified zonal transmission tariff will help CGDs entities to strengthen cost structures and create a more affordable pricing environment. As APM allocation for CNG continues to evolve, our balanced portfolio positions us to maintain affordability while managing cost pressures responsibly.

“On the sustainability front, ATGL achieved dual upgrades in ESG ratings, with our S&P Dow Jones Sustainability Index score rising to 72, taking ATGL ranking up to 9^th globally in gas utilities and our CDP rating improving to ‘A’. This reaffirms our commitment to a responsible energy transition.

“With a strengthened sourcing portfolio, continued digitalisation, operational excellence, and expanding networks across our GAs, continued growth in our EV Charge Points, ATGL is strategically positioned to deliver sustainable growth and long‑term value to its all stakeholders,” said Mr. Suresh P. Manglani, CEO & ED, ATGL.

 Standalone Operational and Infrastructural Highlights:

 Operations Commentary – Q3FY26

• CNG Volume increased by 17% Y-o-Y on account of CNG network expansion across multiple Geographical Areas (GAs)
• Over 10.5 lakh homes are now connected with Piped Natural gas
• With addition of new PNG connections, PNG Volume has increased by 3% Y-o-Y
• Overall volume has increased by 12% Y-o-Y

Standalone Financial Highlights:

 Results Commentary Q3 FY25 

• Revenue from operations rose by 17% on account of higher volume
• With lower allocation of APM gas to CNG segment coupled with NWG and higher HH linked R-LNG price due to winter, the cost of Natural gas rose by 18%.
• During the quarter, APM allocation for CNG segment marginally reduced to ~41% from 42% from last quarter, the balance was met with New Well Gas, existing contracts and Spot procurement.
• ATGL took a calibrated approach in passing the higher gas cost to ensure volume growth does not get impacted.
• EBITDA increased by 15% Y-o-Y to INR 313 Crs.
• PBT and PAT increased by 10% to INR 212 Crs and INR 157 Crs respectively

 Key ESG Highlights

• ATGL’s DJSI net ESG score improved to 72 from 62, positioned 9^th rank globally in Gas utility sector.
• ATGL Carbon disclosure project rating increased to ‘A’ – Highest category from ‘B’ supported by improved scope 1 and 2 emissions management
• ATGL received Gold award for Safety excellence at the Apex India Safety award held in Udaipur