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Revenue
₹1,341 Cr
verified against source
Revenue YoY
15%
reported change
EBITDA
₹274 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Adani Total Gas reported Q4 FY25 revenue of INR 1,448 crore, up 15% YoY, driven by 13% volume growth and strong CNG demand. However, EBITDA fell 10% to INR 274 crore and PAT declined 10% to INR 149 crore, impacted by a sharp reduction in APM gas allocation to 37% (from 61% average in FY25). Management highlighted that new well gas and HPHT gas partially offset the shortfall, keeping blended domestic allocation at 65%. The company maintained double-digit volume growth guidance for FY26, supported by new GA ramp-up and infrastructure expansion. Key risks include further APM allocation cuts and margin compression from higher-cost gas sourcing. The e-mobility subsidiary is EBITDA positive with cumulative investment of ~INR 100 crore.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to maintain double-digit volume growth, supported by new GA ramp-up and infrastructure expansion.
- Capital expenditure for FY26 is expected to be similar to FY25, around INR 900 crore, focused on monetizing assets.
- Planned investment in e-mobility subsidiary for the coming year is INR 70-80 crore, with 1,500-2,000 new charge points.
Risks flagged
- APM allocation for CNG dropped to 37% in Q4; further cuts could increase gas costs and compress margins.
- Reliance on new well gas and HPHT gas at higher prices may erode profitability if APM allocation remains low.
- B2C EV charging utilization is only 1.5-2%, and overall EV ecosystem development may take longer than expected.
- Management noted consolidation may be 18-24 months away, but volatility in APM could accelerate it, impacting competitive dynamics.
Key quotes
- Our overriding business principle that safety has to be the precondition to work has laid down a strong foundation in building safe behavior and culture within ATGL.
- We are not building for today EV charging points. You see, we are trying to make sure that all strategic location, whether on B2C side, whether B2B side, or tourist places, we should build for the future.
- I think combined reading of this should all give you a sense that there is a support which is there for a CGD sector.
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