Adani Total Gas Q1 FY23 Results: PNG consumers crossed 6 lakhs, CNG stations increased to 349
Ahmedabad, 4 August 2022: Adani Total Gas Ltd (“ATGL”), India’s leading City Gas Distribution company, announced today its operational and financial performance for the first quarter ended 30 June 2022.
Standalone Operational and Financial Highlights:
| Particulars | UoM | Q1 FY23 | Q1 FY22 | % Change YoY |
| Operational Performance | ||||
| Sales Volume | MMSCM | 183 | 140 | 31% |
| CNG Sales | MMSCM | 109 | 68 | 61% |
| PNG Sales | MMSCM | 74 | 72 | 3% |
| Financial Performance | ||||
| Revenue from Operations | INR Cr | 1,110 | 522 | 113% |
| Cost of Natural Gas | Rs Cr | 785 | 245 | 221% |
| EBITDA | INR Cr | 228 | 215 | 6% |
| Profit before Tax | INR Cr | 185 | 185 | – |
| Profit After Tax | INR Cr | 138 | 138 | – |
Results Commentary FY23 Q1 FY23 (Y-o-Y)
- CNG Volume has increased by 61% on account of addition of new CNG stations
- PNG Volume has increased by 3% due to addition of new customers
- Increase of Revenue by 113% on account of higher volume coupled with increase in sales price
- EBITDA increased by 6%
- For Q1 FY23, there has been significant increase in APM Price, R-LNG prices, as well as lower allocation of APM gas during the quarter which has impacted the gas cost as well as the gross margins.
- ATGL has calibrated its retail price revisions to balance the interest of its consumers and its shareholders from the impact of sudden spurt in gas purchase price
- Given the challenges of shortfall in APM gas allocation to CGD entities, MoPNG has notified revision in making APM allocation and pricing policy. Now CGDs are provided gas allocation upto 102.5% basis the previous quarter average consumption instead of earlier 6-month average. This will benefit CGDs in getting better allocation of APM gas.
- Further, APM gas will be available at Unified Base Price which will be notified on every 1st of calendar month.
“It has been a challenging scenario for the CGD industry with significantly high input gas prices mainly due to geopolitical factors as well as supply shortages across the globe, which are likely to continue in the near future. ATGL has calibrated increase in its sales price balancing the interest of its consumers with the sudden spurt in gas prices.” said Mr Suresh P Manglani, CEO of Adani Total Gas. “Team ATGL has been resilient in delivering on infrastructure front by crossing 6 lakhs PNG consumers and added another 15 CNG stations, totalling to 349 CNG stations across all our locations. On the financial front, with 31% growth in volumes ATGL was able to sustain its profitability number by optimizing its opex. ATGL has been focussing on creating infrastructure so that it can be future ready to serve its large consumer base and contribute towards the nation’s journey to a gas-based economy.”
