ATGL / Q3-FY25 / claim-ledger

Audit the questions that mattered.

Adani Total Gas · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ3-FY25 · 2025-01-30Back to quarter ↗

Questions audited

Answered directly

67%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Yogesh Patil · Dolat Capital

partial

Key factors for CNG volume growth and vehicle addition numbers.

We supply CNG to about six to seven vehicles per day... CNG vehicles, if I were to compare on a YTD basis for FY25 compared to FY24, in the whole of India, there has been a 43% growth in CNG vehicles.

Yogesh Patil · Dolat Capital

direct

Geographical breakup of CNG volume between old and new GAs.

The existing geographies are contributing 68%, whilst the newer geographies are contributing to the balance 32%... The CNG volume on an overall basis that is being contributed from the existing ones are close to about 1 million out of the 1.7 MMSCM.

Yogesh Patil · Dolat Capital

partial

Rationale and sustainability of increased APM allocation to CNG.

Government had in mind that affordability of end consumers should also be balanced... That's the reason the 51% gas has been restored... government is continually working on one, how much more APM gas could be given to CGD.

Yogesh Patil · Dolat Capital

evasive

Timeline for next APM allocation changes.

This is the continual process government is looking into it... we are also preparing ourselves to see that if tomorrow this allocation is not restored, how are we going to be working on a sustainable basis.

Varatharajan Sivasankaran · Antique Stock Broking

direct

Confirmation that new well gas is in addition to APM allocation.

The New Well Gas currently in the last quarter was roughly about 7%-8% of our requirement, of our overall requirement.

Varatharajan Sivasankaran · Antique Stock Broking

direct

Mechanism and timing of APM reallocation reviews.

The government looks at the calendar quarter demand for the CGD segment and looks at the availability of APM gas and then does an allocation after every quarter... There's a 45-day gap after every calendar quarter when the APM reallocation is done.

Varatharajan Sivasankaran · Antique Stock Broking

direct

Current gas sourcing mix percentages.

Currently about 40% of our volumes are APM and another about, as you rightly said, about 8%-9% is new well gas and another 25% is HPHT gas.

Sabri Hazarika · Emkay Global Financial Services

direct

Clarification on CNG sourcing mix percentages.

That's HPHT ceiling gas... about 25% of our entire portfolio today is HPHT ceiling gas.

Sabri Hazarika · Emkay Global Financial Services

partial

Expectations for new well gas volumes going forward.

We expect the new well gas to go up because for all these fields, the producers now would be very encouraged that they are getting a little premium through APM gas.

Sabri Hazarika · Emkay Global Financial Services

evasive

Revised margin guidance given recent developments.

We would expect, therefore, our margins to remain in a similar sort of range at this juncture.

Nitin Tiwari · PhillipCapital

partial

Revenue breakdown between CNG and PNG and subsegments.

In terms of sales volume... CNG will constitute close to about 66%, while 34% is on the PNG side... close to about 23% is industrial, 8% is domestic, and about 2% is commercial.

Nitin Tiwari · PhillipCapital

direct

LNG sourcing split between long-term contracts and spot.

We generally don't keep our open position for spot purchases more than about 5%-7%. But since APM went down very significantly in recent months, our open position right now would be about 10%.