Ahmedabad, Oct 28 India’s leading energy transition company Adani Total Gas Ltd (ATGL) on Tuesday reported 19 per cent increase in revenue from operations in Q2 FY26 at Rs 1,569 crore (year-on-year), as combined CNG and PNG volume went up 16 per cent in the July-September period.
The Adani Group company saw CNG stations increase to 662 in the July-September period, as PNG households crossed a million mark (1.02 million homes).
The industrial and commercial connections rose to 9,603, with 147 new consumers added in the September quarter.
“Team ATGL has yet again delivered an impressive set of numbers with volume growth of 16 per cent, revenue growth of 20 per cent (in H1 FY26) on YoY basis, and EBIDTA at Rs 603 crore, despite combined APM and NWG gas supplies moderating down to 59 per cent in H1 FY26 from 70 per cent H1 FY25 and USD further appreciating by 4 per cent against INR resulting to an increase in the gas cost,” said Suresh P Manglani, CEO and ED, ATGL.
“There has been strong growth in both steel and MDPE pipelines across all our GAs. Our continued focus on digitalisation across project management, operational excellence and value optimisation has helped us in delivering better physical and financial outcomes,” he mentioned.
The installed EV charging points increased to 4,209. Despite an increase in exchange rate and higher gas costs, ATGL delivered increase in volume through calibrated pricing strategy and Opex optimization, delivering an EBITDA of Rs 302 crore in Q2 FY26.
“While we closely monitor the evolving situation around APM gas allocation for the CNG segment, our diversified gas sourcing portfolio enables us to adopt a calibrated pricing approach, ensuring that consumer interests remain at the forefront,” said Manglani.
ATGL’s long-term credit rating has been upgraded to ‘AA+ (Stable)’ by ICRA, with CRISIL and CARE have assigned fresh AA+ (Stable) ratings.
"These ratings reflect the agencies’ positive view of ATGL’s expanding scale, strong parentage, healthy volume growth, robust gas sourcing arrangements, and strong financial profile,” Manglani noted.
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