Adani Total Gas Q4 & FY26 Results

ATGL Concludes Strong Q4 and FY26 with Robust Infrastructure Expansion, EBITDA and ESG Leadership

Sustained double digit volume growth in FY26, up 14% YoY to 1,133 MMSCM and EBITDA of INR 1,225 crore, 5% increase YoY.

Q4 FY26 posts 13% YoY growth in volumes to 297 MMSCM and EBITDA to INR 310 crore

CNG network expanded to 705 stations

PNG connections reached ~1.1 million households

EV charging points scaled up to 5,100

ESG leadership strengthened through CareEdge and NSE sustainability upgrades

Commissioned additional 9 CGS and 1 LCNG plant in FY26, gasifying new Geographical Areas.

EDITOR’S SYNOPSIS

Operational Highlights Q4FY26 (Standalone):

Combined CNG and PNG volume of 297 MMSCM, 13% increase Y-o-Y
Increased CNG stations to 705 by adding 25 new stations
Expanded PNG home connections to 10.99 lakh, by adding 49,504 new households
Increased Industrial & Commercial connections to 9965 with 214 new customers added
Completed cumulative ~ 15,572 Inch Km of Steel Pipeline network

Pan India Footprint –Q4FY26 (With JV namely IOAGPL):

Combined CNG and PNG volume of 433 MMSCM, 15% increase Y-o-Y
Combined network of 1,169 CNG Stations, with 49 new stations added
PNG home connections crossed 13.1 lakh, touching over 5 million lives daily.
Grew Industrial & Commercial connections to 11,529 by adding 429 new consumers
Completed cumulative 28,005 Inch Km of Steel Pipeline network

Key Business updates

Escalation of geopolitical tensions in West Asia since late Feb’26 disrupted energy supply chains across the globe and led to market volatility. This resulted in higher natural gas prices; supply chain challenges compounded with currency volatility which led to increase in overall gas procurement cost during the quarter. Despite these headwinds, ATGL ensured uninterrupted gas supply across all operating geographical areas and continued to deliver growth in volumes, revenues, and EBITDA.
The Government of India took several prompt steps to ensure continuity of PNG and CNG supply to end consumers; like issuing Gazette Notifications for priority gas allocation to D-PNG and CNG consumers, defining approval timelines, uniform right-of-ways and pipeline norms, and encouraging PNG adoption where PNG network has been laid. These initiatives were well reciprocated by the State Governments.
Additionally, PNGRB supported the segment further by keeping the Zone-1 tariff unchanged at INR 54 / MMbtu, which is applicable to priority segments of PNG (D) and CNG(T).

Adani TotalEnergies E-mobility Limited (ATEL)

ATEL has now expanded its footprint to 5,100 installed EV Charge Points across 26 states/UTs and 226 cities
Installed capacity increases to ~54 MW

Adani TotalEnergies Biomass Limited (ATBL)

A total of 1654 MT of CBG was sold in FY26, including 888 tons from our CBG DODO station.
In FY26, Fermented Organic Manure (FOM) sales crossed 1,500+ Tons; with Q4 sale is 50% higher than the combined sale of all three quarters.

Financial Highlights Q4FY26 (ATGL Standalone) Y-o-Y:

Revenue increased by 16%, reaching INR 1,696 Cr
Registered EBITDA growth of 13%, to INR 310 Cr
PAT for the quarter increased to INR 156 Cr, clocked 4% growth

Consolidated Q4FY26 PAT

Consolidated PAT increased by 9%, reaching INR 168 Cr

Financial Highlights FY26 (Standalone) Y-o-Y:

Revenue increased by 18%, reaching INR 6415 Cr
EBITDA rose by 5% to INR 1225 Cr
PAT stood at INR 637 Cr

Consolidated FY26 PAT

Consolidated PAT stands at INR 656 Cr

Ahmedabad, 27 April 2026: 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 fourth quarter and financial year ended 31st March 2026.

“With resilient execution, underpinned by operational excellence and digital enablement, ATGL delivered strong double digit growth in volumes and revenues, supported by steady EBITDA expansion. Despite geopolitical disruptions from West Asia, elevated LNG prices, and currency volatility, our nimble and diversified sourcing strategy ensured uninterrupted gas supply. ATGL’s focus remained on system stability, calibrated expansion with financial prudence, and long-term sustainability, strengthening consumer confidence and ensuring operational excellence. We continued to scale our clean energy infrastructure across CNG, PNG, and e mobility, with EV charge points crossed the 5,100 mark. During the period, we strengthened our ESG performance through improved sustainability ratings, reinforcing ATGL’s position among leading ESG performers in its peer group.

“Aligned with India’s vision to raise natural gas to 15% of the energy mix by 2030, ATGL is well positioned to support the country’s transition to a gas-based and cleaner energy economy” – Suresh P. Manglani, CEO & ED, ATGL

Standalone Operational and Infrastructural Highlights:

Operational Performance
Particulars	UoM	FY26	FY25	% Change YoY	Q4 FY26	Q4 FY25	% Change YoY
Sales Volume	MMSCM	1133	993	14%	297	263	13%
CNG Sales	MMSCM	782	663	18%	207	177	17%
PNG Sales	MMSCM	351	330	6%	91	87	5%

Infrastructure Performance
Particulars	UoM	As on 31 Mar’ 26	FY26 Additions	Q4 Additions
CNG Stations	Nos.	705	58	25
MSN (IK)	Nos.	15,572	1,800	710
Domestic-PNG	Nos.	10,99,669	1,37,001	49,504
Commercial -PNG	Nos.	6,884	543	170
Industrial-PNG	Nos.	3,081	123	44

Operations Commentary – Q4FY26

CNG Volume increased by 17% Y-o-Y on account of CNG network expansion across multiple Geographical Areas (GAs)
~11 lakhs homes are now connected with Piped Natural gas
With addition of new PNG connections, PNG Volume has increased by 5% Y-o-Y
Overall volume has increased by 13% Y-o-Y

Standalone Financial Highlights:

Financial Performance
Particulars	UoM	FY26	FY25	% Change YoY	Q4 FY26	Q4 FY25	% Change YoY
Revenue	INR Cr	6,415	5,432	18%	1,696	1,457	16%
Cost of Natural Gas	INR Cr	4,533	3,680	23%	1,199	1,015	18%
Gross Profit	INR Cr	1,882	1,751	7%	497	442	12%
EBITDA	INR Cr	1,225	1,167	5%	310	274	13%
Profit Before Tax	INR Cr	863	868	-1%	214	198	8%
Profit After Tax	INR Cr	637	648	-2%	156	149	4%

Results Commentary Q4 FY26

Revenue from operations rose by 16% on account of higher volume
With lower allocation of APM gas to CNG segment, higher HH prices, higher spot prices due to geopolitical tension, the cost of Natural gas rose by 18%.
During the quarter, APM allocation for CNG segment reduced to ~36% from 41% from last quarter, the balance was met with existing contracts and Spot procurement.
ATGL took a calibrated approach in passing the higher gas cost to ensure volume growth does not get impacted.
EBITDA increased by 13% Y-o-Y to INR 310 Crs.
PBT and PAT increased by 8% and 4% to INR 214 Crs and INR 156 Crs respectively.

Key ESG Highlights

CareEdge ESG scored ATGL at 83.3 out of 100; Score places ATGL among the best performing companies within its peer group
NSE Sustainability ratings and Analytics scored ATGL at 73 increased from 67 earlier.

Awards and Accolades

OHSSAI India Recognition: ATGL’s HSE team was felicited by OHSSAI India for outstanding excellence in Health, Safety, Environment (HSE) and ESG performance.
Innovation in EHS & Fire Security by IBC: ATGL was conferred the Agni Suraksha Puraskar by the International Business Conference in recognition of its innovative EHS practices and successful implementation of high-impact fire and safety initiatives.
National Process Safety Honours 2026: ATGL was awarded ‘Excellence in City Gas Distribution’ for consistently demonstrating leadership in process safety, industrial integrity, and safety performance within the private sector.

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/