ATGL / Q3-FY26 / 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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PositiveQ3-FY26 · 2026-02-14Back to quarter ↗

Questions audited

Answered directly

41%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Yogesh Patil · Dolat Capital

partial

Impact of two-zone transmission tariff on cost of gas and quantum.

Zone 1 tariff of INR 54 for entire PNG and CNG volume... most of the GA barring two, three GAs of Gujarat, we have been benefited significantly... Two, three GAs of Gujarat have very slight implication of tariff going up... from earlier INR 42 to INR 54, we'll have an implication of INR 14, around 30%.

Yogesh Patil · Dolat Capital

partial

CNG vehicle additions in last two years and volume growth split by new vs old GAs.

With respect to ATGL GAs, we are seeing growth of around 31% in the vehicle addition, quarter on quarter, which is an addition of around 45,000 vehicles compared to the last quarter.

Yogesh Patil · Dolat Capital

direct

Share of biogas blending in APM gas price, whether more or less than 2%.

Currently, our blending part is much, much lesser than what you are indicating, 2%.

Yogesh Patil · Dolat Capital

evasive

Total number of CNG vehicles ATGL sells to currently.

So if you are talking about quarter on quarter total number of vehicles, around 3 lakh vehicles were sold Pan India level.

Varatharajan · Antique Stock Broking Limited

direct

Mix of gas used and trend in new gas supply allocation.

APM allocation has increased a bit... domestic gas, considering APM, new gas, and HPHT, would comprise of around 65%-70% of our portfolio. And the balance would be RLNG.

Varatharajan · Antique Stock Broking Limited

evasive

Expectation of further APM allocation cut in April and advance notice.

I would say not so much advance notice, but not a big problem also. We are seeing the allocation continue in the similar trend what it was happening earlier.

Varatharajan · Antique Stock Broking Limited

evasive

Target for number of outlets to be added this year and next.

We have bid our new work program on CNG station. Right? So 680 numbers is currently... you will see a healthy growth in our CNG station... Numbers will be healthy for both CNG in this quarter as well as for the next year.

Varatharajan · Antique Stock Broking Limited

evasive

Average throughput per CNG outlet in kgs per day.

If you ask Faridabad... very high throughput of, let's say, 6,000 odd or maybe ranging to up to 10-12,000, 15,000 kgs per station. If you ask Ahmedabad, it may be generally minimum 4,000... newer geographical area... maybe 500 kg... If I give you one generalized number... it may not actually give you the right perspective.

Kirtan Mehta · Baroda BNP Paribas Mutual Fund

evasive

Thought process on dealer economics for DODO stations and throughput threshold.

For a DODO dealer, the more important is that he has to see not only the immediate volume, but over the period where volumes are going to be heading... we are being very calibrated way that dealer should finally get a good IRR.

Kirtan Mehta · Baroda BNP Paribas Mutual Fund

partial

Breakup of 45,000 vehicle additions between Gujarat and outside Gujarat.

In the state of Gujarat, around 30,000 vehicles have been added in the last quarter. Out of that, around 43% is in Ahmedabad, and the balance is in the rest of Gujarat.

Kirtan Mehta · Baroda BNP Paribas Mutual Fund

deflected

Range of dealer incentives (INR per kg) across different cities.

On the dealer margin, which you are asking, again, as I said, depend upon new geographical area... If you are interested or some of your friends and colleagues are interested, I think it is important that you ask them to log in our website...

Varatharajan · Antique Stock Broking Limited

direct

Proportion of OEM vs retrofitted vehicles among additions.

A significant number is the OEM number... around two-thirds, one-third could be the proportion of the OEM vehicle versus retrofitted vehicle.