Adani Total Gas Q2 & H1FY27 Results

ATGL Concludes Q2 & H1FY27 with Strong Volume, Revenue & EBITDA Growth

Q2FY27 & H1FY27 volume increased 12% & 13% YoY

Q2FY27 & H1FY27 EBITDA increased 12% & 3% YoY

EDITOR’S SYNOPSIS

Operational Highlights – Q2FY27 (Standalone):

Combined CNG and PNG volume of 315 MMSCM, 12% increase YoY
Increased CNG stations to 723 by adding 16 new stations
Expanded PNG home connections to 11.81 lakh, by adding 39,574 new households
Increased Industrial & Commercial connections to 10,864 with 442 new customers added
Expanded Steel Pipeline Network by 318 Inch-Km, reaching a cumulative 16,305 Inch-Km

Pan India Footprint – Q2FY27 (With JV namely IOAGPL):

Combined CNG and PNG volume of 529 MMSCM; up by 18% YoY
Combined network of 1,185 CNG Stations, with 18 new stations added
PNG home connections crossed 14.31 lakh, touching over 6 million lives daily.
Grew Industrial & Commercial connections to 12,925, ~600 new customers added
Completed cumulative 29,156 Inch Km of Steel Pipeline network

Ahmedabad, 22 October 2026: Adani Total Gas Limited (ATGL), one of India’s largest CGD companies, continues its mission of transforming India’s energy landscape through infrastructure development across existing and new geographical areas, and new-age energy businesses. Today, ATGL announced its operational and financial performance for the second quarter and half year ended 30^th September 2026.

“ATGL delivered a strong performance in Q2FY27, with volumes growing 12% and revenue rising 34% year-on-year, supported by sustained CNG demand, deeper PNG penetration and disciplined network expansion. This momentum enabled ATGL to achieve strong double digit EBITDA growth up by 12% YoY.

This performance was achieved despite a challenging operating environment marked by the continuation of West Asia crisis, elevated Brent and spot gas prices, currency depreciation and reduction in APM allocation. Our diversified sourcing portfolio, mix of long-term contracts and flexible market purchases along with calibrated price mechanism helped manage cost pressures, maintained supply reliability, and sustained customer demand.

We remain focused on discipline capital allocation, volume growth, operational excellence combined with digital enablement across CNG, PNG, e-mobility and biomass segments to create long-term value for customers and stakeholders.” – Sanjay Pandita, CEO, ATGL

Standalone Operational and Infrastructural Highlights:

Operational Performance
Particulars	UoM	Q2FY27	Q2FY26	% Change YoY	H1FY27	H1FY26	% Change YoY
Sales Volume	MMSCM	315	280	12%	618	547	13%
CNG Sales	MMSCM	223	191	17%	441	376	17%
PNG Sales	MMSCM	92	89	3%	177	171	4%

Particulars	UoM	As on 30^th September’26	Q2FY27 Additions	H1FY27 Additions
CNG Stations	Nos.	723	16	21
Steel Network	Inch Km	16,305	318	732
Domestic-PNG	Nos.	11,80,682	39,574	77,817
Commercial-PNG	Nos.	7,669	392	784
Industrial-PNG	Nos.	3,195	50	106

Key Business updates

The West Asia crisis continued in Q2FY27, resulting in elevated Brent and spot gas prices, while currency depreciation further increased the gas cost.
Following withdrawal of temporary pooled gas support effective 5 July 2026, the Government introduced a revised HPHT allocation framework, improving domestic gas availability for CGD entities through a demand and shortfall-based methodology.
ATGL continued to leverage a diversified sourcing portfolio, including increased domestic allocation, new long and mid-term contracts and market purchases, to address demand requirements, manage supply risks and maintain operational reliability.

Operations Commentary – Q2 & H1FY27

CNG volume increased by 17% YoY in Q2FY27 and H1FY27, supported by network expansion and higher throughput across multiple Geographical Areas.
~11.81 lakh homes are now connected with Piped Natural Gas.
PNG volume grew by 3% YoY in Q2FY27 and 4% YoY in H1FY27, supported by domestic and commercial demand.
Overall volume increased by 12% YoY in Q2FY27 and 13% YoY in H1FY27.

Standalone Financial Highlights:

Financial Performance
Particulars	UoM	Q2FY27	Q2FY26	% Change YoY	H1FY27	H1FY26	% Change YoY
Revenue	INR Cr	2,102	1,569	34%	3,999	3,060	31%
EBITDA	INR Cr	340	302	12%	621	603	3%
Profit Before Tax	INR Cr	235	217	8%	414	436	-5%
Profit After Tax	INR Cr	167	162	3%	300	324	-7%
Cash Profit	INR Cr	254	235	8%	458	462	-1%

Results Commentary Q2 & H1FY27

Revenue from operations rose by 34% in Q2FY27 and 31% in H1FY27, led by sustained volume growth.
Cost of natural gas increased by 43% in Q2FY27, driven by sustained volume growth, elevated Brent-linked prices, withdrawal of pooled-gas support and the prolonged West Asia crisis.
APM allocation for the CNG segment averaged around 25% in Q2FY27, with shortfall addressed through HPHT gas, NWG, long-term and short-term contracts, and market purchases.
Strategic sourcing and calibrated pricing helped manage higher input costs while sustaining volume growth.
EBITDA grew by 12% YoY at INR 340 Cr in Q2FY27 and 3% growth at INR 621 Cr in H1FY27.
PBT and PAT stood at INR 235 Cr and INR 167 Cr respectively in Q2FY27.
Consolidated PAT stood at INR 173 Cr for Q2 FY27 and INR 315 Cr for H1 FY27.

Adani TotalEnergies E-mobility Limited (ATEL)

ATEL expanded its footprint to 5,513 installed EV Charge Points across 26 states/UTs and 225 cities
Installed capacity increased to ~63 MW, with 4,809 charge points operational

Adani TotalEnergies Biomass Limited (ATBL)

A total of 460 MT of CBG was sold in H1FY27, including 195 tonnes through dedicated CBG stations and the balance to third parties.
Organic manure recorded sales of 6,865+ tonnes in H1FY27, including 1,757+ tonnes under the Harit Amrit brand.
Harit Amrit continued its regional expansion with brand-awareness sessions for farmers.

Key ESG Highlights

NSE Sustainability score increased to 75 and Stakeholders Empowerment Services (SES) score improved to 75 out of 100

About Adani Total Gas

Given its gas distribution, ATGL is authorised in 34 Geographical Areas and plays a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix. Of the 53 GAs, 34 are owned by ATGL and the balance 19 GAs are owned by Indian Oil-Adani Gas Private Limited (IOAGPL) – a 50:50 joint venture between Adani Total Gas Limited and Indian Oil Corporation Limited. Further, ATGL has formed 2 wholly owned subsidiaries namely Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and Biomass Business respectively. ATGL has also formed a 50:50 joint venture, namely Smart Meter Technologies Private Limited for its gas meter manufacturing business.

For more information, please visit https://www.adanigas.com/

For Media Queries: Roy Paul roy.paul@adani.com

For Investor Queries: Adish Vakharia Adish.vakharia@adani.com