Adani Total Gas Hits Major Milestone
Newzdaddy Business Updates
Adani Total Gas Q2 & H1FY26 Results
- Q2FY26 Volume up 16% YoY
- CNG network increases to 662 stations
- PNG households crossed the million mark, hitting 1.02 million homes
- Q2FY26 and H1FY26 EBITDA stood at INR 302 Crs and INR 603 cr
- ATGL Shines at PNGRB Awards with Triple Recognition in CGD Industry
- Installed EV charging points increased to 4209
| EDITOR’S SYNOPSIS Operational Highlights Q2FY26 (Standalone): Ø Combined CNG and PNG volume of 280 MMSCM, a 16% increase Y-o-Y Ø Increased CNG stations to 662 by adding 12 new stations Ø Expanded PNG home connections to 1.02 million, by adding 26,418 new households Ø Increased Industrial & Commercial connections to 9,603 with 147 new consumers added Ø Completed cumulative ~ 14524 Inch Km of Steel Pipeline network Pan India Footprint –Q2FY26 (With JV namely IOAGPL): Ø Combined CNG and PNG volume of 449 MMSCM, a 23% increase Y-o-Y Ø Combined network of 1095 CNG Stations, with 17 new stations added Ø PNG home connections reached ~12.1 lacs, touching nearly 5 million lives Ø Grew Industrial & Commercial connections to 10,884, by adding 244 new consumers Ø Completed cumulative ~ 26,411 Inch Km of Steel Pipeline network Key Business updates The external credit rating of facilities sanctioned to ATGL is now rated AA+ (Stable) by 3 rating agencies, i.e. ICRA, CRISIL, and CARE, which reflects the company’s growing scale and positive developments. The upgradation in the long-term rating is primarily due to the increasing scale owing to healthy volume growth, favourable demand outlook, network expansion, strong parentage, adequate gas sourcing arrangement, and a healthy financial profile.
Upgradation in External Credit Rating: Ø ICRA has upgraded the rating to AA+ (Stable) from AA (Stable) on July 30, 2025 Assignment of Fresh External Credit Rating: Ø CARE has assigned its AA+/Stable ratings to the bank facilities of Adani Total Gas Ltd (ATGL) dated August 08, 2025 Ø Crisil Ratings has assigned its AA+/Stable ratings to the bank facilities of Adani Total Gas Ltd (ATGL) dated August 21, 2025 Adani TotalEnergies E-mobility Limited (ATEL) Ø ATEL has now expanded its footprint to 4209 installed EV charging points across 26 states/UTs and 226 cities Ø Installed capacity increases to ~42 MW Adani TotalEnergies Biomass Limited (ATBL) Ø Harit Amrit (the Fermented Organic Manure brand) has taken a significant leap in regional growth with its expansion into Uttar Pradesh, Madhya Pradesh, and Gujarat. Ø Sold 804 tonnes of CBG during H1FY26, out of which 357 tonnes of CBG were sold from its first CBG DODO station
Financial Highlights Q2FY26 (ATGL- Standalone) Y-o-Y: Ø Revenue from Operations increased by 19%, reaching INR 1569 Cr, Ø EBITDA stood at INR 302 Cr, Ø PAT for the quarter was at INR 162 Cr Consolidated Q2FY26 PAT Ø Consolidated PAT stood at INR 163 Cr Financial Highlights H1FY26 (ATGL-Standalone) Y-o-Y: Ø Revenue from Operations increased by 20%, reaching INR 3060 Cr, Ø EBITDA stood at INR 603 Cr, Ø PAT for the period was at INR 324 Cr Consolidated H1FY26 PAT Ø Consolidated PAT at INR 329 Cr |
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 half year ended 30th September 2025.
“Team ATGL has yet again delivered an impressive set of numbers with volume growth of 16%, revenue growth of 20% on YoY basis, and EBIDTA at INR 603 Crs, despite combined APM and NWG gas supplies moderating down to 59% in H1FY26 from 70% H1FY25 and USD further appreciating by 4% against INR resulting to an increase in the gas cost. Home PNG numbers crossed the 1 million mark, and the number of CNG stations reached 662, out of which 129 are of the CODO/DODO category. There has been strong growth in both steel and MDPE pipelines across all our GAs.”
“Our continued focus on digitalisation across project management, operational excellence and value optimisation has helped us in delivering better physical and financial outcomes.
“While we closely monitor the evolving situation around APM gas allocation for the CNG segment, our diversified gas sourcing portfolio enables us to adopt a calibrated pricing approach, ensuring that consumer interests remain at the forefront.
“Further strengthening our position, ATGL’s long-term credit rating has been upgraded to ‘AA+ (Stable)’ by ICRA, with CRISIL and CARE having assigned fresh AA+ (Stable) ratings. These ratings reflect the agencies’ positive view of ATGL’s expanding scale, strong parentage, healthy volume growth, robust gas sourcing arrangements, and strong financial profile,” said Mr Suresh P. Manglani, CEO & ED, ATGL.
Standalone Operational and Infrastructural Highlights:
| Particulars | UoM | H1 FY26 | H1 FY25 | % Change YoY | Q2 FY26 | Q2 FY25 | % Change YoY |
| Operational Performance | |||||||
| Sales Volume | MMSCM | 547 | 472 | 16% | 280 | 242 | 16% |
| CNG Sales | MMSCM | 376 | 315 | 19% | 191 | 162 | 18% |
| PNG Sales | MMSCM | 171 | 157 | 9% | 89 | 80 | 11% |
| Infrastructure Performance | UoM | As on 30 Sep’ 25 | H1 Additions | Q2 Additions |
| CNG Stations | Nos. | 662 | 15 | 12 |
| MSN (IK) | Nos. | 14524 | 752 | 327 |
| Domestic-PNG | Nos. | 1,015,955 | 53,287 | 26,418 |
| Commercial -PNG | Nos. | 6,587 | 246 | 121 |
| Industrial-PNG | Nos. | 3,016 | 58 | 26 |
Operations Commentary – Q2FY26
- CNG Volume increased by 18% Y-o-Y on account of network expansion across multiple Geographical Areas (GAs).
- With stabilisation of gas prices, there has been an increase in consumption of PNG Industrial volume, and coupled with the addition of new PNG connections in domestic and commercial segments, PNG Volume has increased by 11% Y-o-Y
- PNG households crossed the million mark, reaching 1.02 million homes
- Overall volume has increased by 16% Y-o-Y
Standalone Financial Highlights:
| Financial Performance | UoM | H1 FY26 | H1 FY25 | % Change YoY | Q2 FY26 | Q2 FY25 | % Change YoY |
| Revenue from Operations | INR Cr | 3,060 | 2,553 | 20% | 1,569 | 1,315 | 19% |
| Cost of Natural Gas | INR Cr | 2,169 | 1,675 | 30% | 1120 | 871 | 29% |
| Gross Profit | INR Cr | 891 | 878 | 1% | 449 | 444 | 1% |
| EBITDA | INR Cr | 603 | 621 | -3% | 302 | 313 | -3% |
| Profit Before Tax | INR Cr | 436 | 477 | -8% | 217 | 240 | -9% |
| Profit After Tax | INR Cr | 324 | 355 | -9% | 162 | 178 | -9% |
Results Commentary Q2FY26
- Revenue from operations rose by 19% on account of higher volume and sales realisation
- Besides higher volume, the gas cost increased by 29% largely due to the lower allocation of APM to the CNG segment being replaced by high-priced New well gas and HPHT gas.
- To ensure volume growth, ATGL took a calibrated approach in passing on the higher price to consumers.
- Despite an increase in exchange rate and higher gas costs, ATGL delivered an increase in volume through a calibrated pricing strategy and Opex optimisation, delivering an EBITDA of INR 302Crs in Q2FY26.
Awards & Accolades
ATGL won three PNGRB Awards for its work in city gas distribution, out of which two awards were won under HSE and Sustainability, and one in the customer delight segment
Leader in Safety, integrity, and technical excellence for Bhandara, Gadchiroli, GA
Leader in Sustainability and Green Initiative for Cuddalore, GA
Leader in customer care and service delivery in CGD for Bhilwara GA
Must Read:
Adani Green Talks 2025: Empowering Innovators for a Sustainable Future
