Adani Total Gas Ltd Share Price – NSE /  BSE

Gas Distribution, Mid Cap

The maiden financing of $375 million executed with international lenders include an initial commitment of $315 million with accordion feature to enhance the commitments.

Five international lenders participated in the initial financing which includes BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.

ATGL stated that these facilities will fast track the capital expenditure program, enabling the company to rapidly expand its CGD network into its 34 authorized geographical areas (GAs) across 13 states.

This development agenda shall cater to up to 14% of India’s population covering more than 200 million people. The expansion will deepen the penetration of piped natural gas (PNG) and compressed natural gas (CNG) infrastructure, creating an ecosystem for a gas-based economy.

Parag Parikh, CFO of ATGL, said: “Participation from the global lenders reinforces the potential of city gas distribution in its role as transition fuel

This financing framework will drive ATGL’s sustained growth and will be a stepping-stone for future financing based on its capital management plan which will create a long-term value for all our stakeholders.”

Adani Total Gas is one of India's leading private players in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, commercial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector.

The company’s standalone net profit increased 19.91% to Rs 177.09 crore in Q1 FY25 as comapred with Rs 147.69 crore in Q1 FY24. Revenue from operations rose 9.01% YoY to Rs 1237.10 crore in Q1 FY25.

The scrip had advanced 1.60% to end at Rs 788.60 on the BSE on Friday.

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Adani Total Gas has entered into an overall financing framework which enables it to secure future funding based on its business plan.

The maiden financing of USD 375 million executed with international lenders include an initial commitment of USD 315 million with accordion feature to enhance the commitments. Five international lenders participated in the initial financing which includes BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.

The facility will fast track the capital expenditure program enabling ATGL to rapidly expand its CGD network into its 34 authorized Geographical Areas (GAs) across 13 states. This development agenda shall cater to up to 14% of India's population covering more than 200 million people. The expansion will deepen the penetration of Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) infrastructure, creating an ecosystem for a gas-based economy.

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Revenue from operations rose 9.01% YoY to Rs 1237.10 crore in Q1 FY25.

EBITDA jumped 21% to Rs 308 crore during the quarter as compared with Rs 255 crore in Q1 FY24.

Total sales volume jumped 17% to Rs 230 million metric standard cubic metric (MMSCM) in Q1 FY25 as against 198 MMSCM in Q1 FY24.

Compressed natural gas (CNG) sales increased 20% YoY to Rs 153 MMSCM while piped natural gas (PNG) sales rose 11% YoY to Rs 77 MMSCM during the period under review.

Suresh P Manglani, ED & CEO of Adani Total Gas, said, “During the quarter, ATGL received approval from regulator for the transfer of Letter of Authorization for Jalandhar Geographical Area (GA) which provides high volume growth opportunity to the Company. We have also crossed a significant milestone of 1000+ EV charging points, reaching 1212 EV charging points across multiple locations..

“We continue to see more traction on natural gas as we further build CGD infrastructure and penetrate deeper across multiple GAs. With newer sustainable energy in form of E-mobilty, LNG and Biomass, we remain fully committed to provide a sustainable energy platform to our consumers and playing a leading role in the country’s energy transition journey.”

Adani Total Gas is one of India's leading private players in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, commercial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector.

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Net profit of Adani Total Gas rose 14.39% to Rs 171.84 crore in the quarter ended June 2024 as against Rs 150.22 crore during the previous quarter ended June 2023. Sales rose 8.47% to Rs 1145.49 crore in the quarter ended June 2024 as against Rs 1056.06 crore during the previous quarter ended June 2023.

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