Adani Total Gas FY24 & Q4 Results

Overall Volume uli by 15% in FY24 &amli; 20% in Q4 FY24, Y-o-Y
CNG network increases to 547 stations inclusive of 108 DODO/CODO stations
liNG household increased to 8.20 lakh liNG homes
FY24 EBITDA – INR 1,150 Cr, uli 27% Y-o-Y
Barsana CBG lilant lihase 1 commissioned
606 EV charging lioints sliread across 14 states

EDITOR’S SYNOPSIS

Operational Highlights FY24 (Standalone):

CNG Stations now increased to 547, added 91 New CNG Stations
Total PNG home at 8.20 lakh, added , 1.16 lakh new households on PNG
Industrial & Commercial connections increased to 8,331 added 896 new consumers
Completed ~ 12023 Inch Km of Steel Pipeline
Combined CNG and PNG volume of 865 MMSCM, increase of 15%, Y-o-Y

Financial Highlights FY24 (Standalone) Y-o-Y:

Revenue from Operations at INR 4,813 Cr
EBITDA of INR 1150 Cr, increased by 27%
PAT at INR 653 Cr , increased by 23%

Financial Highlights Q4 FY24 (Standalone) Y-o-Y:

Revenue from Operations at INR 1,257 Cr
EBITDA of INR 305 Cr, increased by 49%
PAT at INR 165 Cr , increased by 59%

Consolidated FY24 PAT:

Consolidated PAT at INR 668 Cr, increased by 22%

Pan India Footprint - FY24 (With JV namely IOAGPL):

CNG Stations network of 903, added 170 New CNG Stations
Total PNG home at 9.76 lakh, added 1.31 new households on PNG
Industrial & Commercial connections increased to 9,142 added 1,112 new consumers
Completed ~ 21566 Inch Km of Steel Pipeline

Key Business updates

Adani TotalEnergies E-mobility Limited (ATEL)

606 EV charging points have been commissioned across 14 states
Additional 1040+ EV charging points are under various stages of covering construction with EV fleets companies, Govt. Authorities, tourism departments municipal corporations etc.
With these, EV network will be spread across 23 states, 217 cities

Adani TotalEnergies Biomass Limited (ATBL)

Commissioned Phase-1 (225 Tonnes Per Day) of one of the India’s largest biomass plant in Barsana.
Won the tender conducted by Rajkot Municipal Corporation to Design Build Finance & Operate 250 TPD Municipal Solid Waste (MSW) based Bio CBG plant in Rajkot.

Ahmedabad, 30 April 2024: Adani Total Gas Ltd (“ATGL”), India’s leading City Gas Distribution company, announced today its operational and financial performance for the full year (FY24) and quarter ended 31^st March 2024.

““FY24 has been a transformative year for ATGL. We delivered a robust operational and financial performance and achieved a 27% YoY EBITDA growth on the back of 15% volume growth,” said Mr. Suresh P Manglani, ED & CEO of Adani Total Gas.

“We are fully committed to India’s energy transition journey and continue to invest in creating world class infrastructure across our Geographical Areas (GAs) and diversifying into areas adjacent to our core CGD business. We are incubating new business opportunities in the areas of Compressed Biogas, EV Charging Infrastructure, and LNG for trucking and Mining (LTM). During the quarter, we commissioned the 1st phase of one of the India’s largest diversified feedstock-to-CBG plant at Barsana in Mathura and also expanded our E-Mobility footprint to 23 states. These, along with LTM are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities,” he added .”

Standalone Operational and Financial Highlights:

Particulars	UoM	FY24	FY23	% Change YoY	Q4 FY24	Q4 FY23	% Change YoY
Operational Performance
Sales Volume	MMSCM	865	753	15%	232	193	20%
CNG Sales	MMSCM	557	459	21%	149	121	23%
PNG Sales	MMSCM	308	294	5%	83	72	15%
Financial Performance
Revenue from Operations	INR Cr	4,813	4,683	3%	1,257	1,197	5%
Cost of Natural Gas	INR Cr	3,188	3,392	-6%	797	891	-11%
Gross Profit	INR Cr	1,626	1,292	26%	461	307	50%
EBITDA	INR Cr	1,150	907	27%	305	205	49%
Profit before Tax	INR Cr	882	716	23%	227	142	60%
Profit After Tax	INR Cr	653	530	23%	165	104	59%

Results Commentary FY24 (Y-o-Y)

CNG Volume increased by 21% Y-o-Y on account of network expansion across multiple Geographical Areas (GAs).
With recovery of PNG Industrial volume and addition of new PNG connection in domestic and commercial segments, PNG Volume has increased by 5% Y-o-Y
Although the overall volume has increased by 15% Y-o-Y, Revenue from operations has increased by 3% Y-o-Y. This was on account of the reduction in gas cost by 6% Y-o-Y due to easing of APM gas price and efficient gas sourcing. This helped ATGL pass on the benefit of lower gas price to consumers.
EBITDA has increased by 27% Y-o-Y on account of higher volume and opex optimization.

Capital & Leverage Position

ATGL has a healthy balance sheet with

Debt-to-Equity ratio at 0.41x
Net Debt to EBITDA is ratio 0.89x

Further, ATGL credit rating has been reaffirmed at AA- by ICRA with change in outlook to Stable from Negative

Key ESG Highlights

ATGL ranked 13^th under Gas utilities with 80 percentile by S&P Global ESG rating
ATGL is now signatory to the United Nations Global Compact (UNGC)
Under Greenmosphere initiative, over 15600 students were trained across 58 schools
ATGL has Planted 2.7+ Lakh trees across multiple locations.

Awards & Accolades – FY24

Received Outstanding Commitment in Road Safety by FICCI
ATGL Corporate office awarded with IGBC “Gold” Certification by Indian Green Building Council
Awarded with Climate Action Programme (CAP) - Committed category by CII of CAP 2.0 awards program for its commitment towards climate change initiatives.
Won “Golden Peacock Award for HR Excellence” award 2023 for its HR best practices.