Adani Total Gas Ltd (“ATGL”), India’s leading City Gas Distribution (CGD) company, today announced its operational and financial performance for the full year (FY24) and quarter ended 31st 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.
ATGL has a healthy balance sheet with
Further, ATGL credit rating has been reaffirmed at AA- by ICRA with change in outlook to Stable from Negative.
Given its gas distribution, ATGL is authorised in 33 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 52 GAs, 33 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.
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