What Led to Adani Total Gas Posting Strong FY24 & Q4 Results?

Adani Total Gas Ltd (“ATGL”), a prominent player in India’s City Gas Distribution (CGD) sector, has unveiled its operational and financial achievements for the fiscal year ended March 31, 2024. The company, jointly owned by Adani Group and TotalEnergies, reported significant growth across various operational metrics, showcasing resilience and adaptability amidst a dynamic market landscape.

Adani Total Gas FY24 And Q4 Results: Operational Highlights 

In FY24, ATGL witnessed a notable surge in overall volume, with a 15% year-on-year (YoY) increase, further accentuated by a 20% growth in the fourth quarter. The company expanded its CNG network, reaching 547 stations, including 108 DODO/CODO stations, and expanded its PNG household connections to 8.20 lakh homes.

The successful commissioning of the Barsana CBG plant Phase 1 marked a significant milestone for the company, enhancing its capabilities in the renewable energy segment. Moreover, with 606 EV charging points now operational across 14 states, ATGL is actively contributing to the electrification of transportation infrastructure nationwide.

Adani Total Gas FY24 & Q4 Results: Financial Performance

Financially, FY24 showcased robust growth, with revenue from operations reaching INR 4,813 Cr, reflecting a 3% YoY increase. The company’s EBITDA surged by 27% YoY to INR 1,150 Cr, demonstrating efficient operational management and cost optimization strategies. Notably, the PAT for FY24 stood at INR 653 Cr, marking a commendable 23% YoY growth.

In Q4 FY24, ATGL continued its impressive performance, with revenue from operations reaching INR 1,257 Cr, up 5% YoY. The EBITDA for the quarter witnessed a substantial increase of 49% YoY, reaching INR 305 Cr, while the PAT surged by 59% YoY to INR 165 Cr.

ATGL Business Expansion and Future Outlook

ATGL’s strategic initiatives encompass diversification into adjacent sectors such as Compressed Biogas (CBG), EV Charging Infrastructure, and LNG for trucking and Mining (LTM). The commissioning of the Barsana CBG plant Phase 1 and the expansion of the EV charging network underscore the company’s commitment to sustainable energy solutions and its pivotal role in India’s energy transition journey.

Moreover, the company’s robust capital structure, characterized by a Debt-to-Equity ratio of 0.41x and a favorable credit rating, positions it well for future growth opportunities. Additionally, ATGL’s emphasis on Environmental, Social, and Governance (ESG) principles is evident through its initiatives such as the United Nations Global Compact (UNGC) and the Greenmosphere program.

Awards and Accolades of Adani Total Gas 

In recognition of its exemplary performance and commitment to excellence, ATGL received several accolades during FY24, including the Golden Peacock Award for HR Excellence and the IGBC “Gold” Certification for its corporate office.

What is Adani Total Gas? 

ATGL, (Adani Total Gas Ltd Shar Price) with its extensive gas distribution network spanning 33 Geographical Areas, plays a pivotal role in India’s quest to augment the share of natural gas in its energy portfolio. Through strategic partnerships and innovative ventures, including wholly-owned subsidiaries and joint ventures, the company continues to drive sustainable growth and contribute to the nation’s energy security.

As ATGL remains steadfast in its pursuit of operational excellence and sustainable development, the company is poised to capitalize on emerging opportunities and shape the future of India’s energy landscape. 

Disclaimer: This content was not produced by the TICE editorial team. It is a press release sent by the respective company/representative/public relations team. At best, it may have been tweaked creatively or editorially without altering any provided facts.