Adani Total Gas Limited (ATGL) Q3 24/25 earnings summary

Executive summary

• Expanded CNG station network to 605 stations, adding 28 in Q3 and 58 YTD; steel pipeline infrastructure reached 13,000 km.

• Over 922,000 domestic homes connected to piped natural gas, with 28,677 new connections in Q3 and 101,310 new PNG home connections in 9MFY25.

• E-mobility business reached 1,914 EV charging points across 22 states and 20 airports, with 428 added in Q3; targeting 3,000 by March-April.

• Biomass and LNG businesses progressing, with the Barsana plant selling 384 tons of CBG and launching a new organic fertilizer brand; first LNG station for long-haul vehicles commissioned in Tamil Nadu.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, were approved and reviewed by the Board and auditors.

Financial highlights

• Standalone revenue for Q3FY25 was ₹1,397.35 crore, up 12% year-over-year; nine-month standalone revenue was ₹3,949.94 crore, up 11%.

• EBITDA for Q3FY25 was ₹301 crore, up 10% year-over-year; nine-month EBITDA was ₹893 crore, up 6%.

• Standalone net profit for Q3FY25 was ₹143.44 crore; nine-month standalone net profit was ₹498.64 crore.

• Volumes grew 15% year-over-year, with CNG up 19% to 171 MMSCM and PNG up 8% to 86 MMSCM in Q3.

• Basic and diluted EPS (consolidated) for Q3FY25 was ₹1.29, and for nine months was ₹4.54.

Outlook and guidance

• ATM allocation for CNG increased from 37% to 51% effective 16th January 2025, expected to positively impact future quarters.

• Company aims to reach 3,000 EV charging points by March-April and continues to expand in new geographies.

• Margins expected to remain in the ₹10–₹12 per SCM range, with focus on balancing volume growth and profitability.

• Continued investment in e-mobility and biogas, aiming for full production at Barsana Bio Plant by April 2025.

• Strategy to ensure robust gas sourcing and supply stability amid regulatory changes.