CNG stations
467
+88 stations YoY
Total CNG stations increased to 467, with 88 in ODO/DODO format, supporting volume growth.
POWERGRID
Energy
01 Aug 2023
Powergrid Ltd — Q1 FY24
Adani Total Gas reported Q1 FY24 revenue of INR 1,135 crore (+2% YoY) and EBITDA of INR 255 crore (+12% YoY), driven by 8% volume growth to 198 MMSCM and cost optimization.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Adani Total Gas reported Q1 FY24 revenue of INR 1,135 crore (+2% YoY) and EBITDA of INR 255 crore (+12% YoY), driven by 8% volume growth to 198 MMSCM and cost optimization. PAT rose 7% to INR 148 crore. The APM price reform (cap of $6.5/MMBtu) boosted CNG demand, with CNG volumes up 18% YoY. Management highlighted strong infrastructure expansion: 467 CNG stations and 11,224 km steel pipeline. Newer GAs contributed 25% of volumes. Risks include propane competition and APM allocation deficit (14% in Q1). Guidance focuses on accelerating CNG/PNG network, commissioning India's largest biogas plant in FY24, and expanding e-mobility to 3,000 charging points. LNG for long-haul trucks is a new opportunity. Key risk: potential margin pressure if APM gas allocation declines further.
अडानी टोटल गैस ने पहली तिमाही में 1,135 करोड़ रुपये का कारोबार किया, जो पिछले साल से 2% ज्यादा है। कमाई (EBITDA) 255 करोड़ रुपये रही, जो 12% बढ़ी। इसकी वजह गैस की बिक्री में 8% इजाफा और खर्चों पर काबू पाना है। मुनाफा (PAT) 7% बढ़कर 148 करोड़ रुपये हो गया। सरकार ने गैस की कीमत पर कैप लगाई, जिससे CNG की मांग बढ़ी और इसकी बिक्री 18% बढ़ गई। कंपनी ने 467 CNG स्टेशन और 11,224 किमी पाइपलाइन बनाई है। नए इलाकों से 25% गैस बिक्री आई। जोखिम: प्रोपेन से मुकाबला और सस्ती गैस की कमी। आगे CNG/PNG नेटवर्क बढ़ाने, बड़ा बायोगैस प्लांट लगाने और 3,000 इलेक्ट्रिक चार्जिंग पॉइंट बनाने की योजना है। लंबी दूरी के ट्रकों के लिए LNG नया मौका है।
Key Numbers
Total volume (CNG+PNG)
198 MMSCM
+8% YoY
Aggregate volume grew 8% YoY to 198 MMSCM, driven by CNG growth of 18%.
APM gas deficit
14%
-5pp QoQ
APM allocation deficit improved to 14% in Q1 from 19% in Q4, trending toward single digits.
Newer GA volume share
25%
+15pp YoY
Newer GAs contributed 25% of total volume, up from ~15% last year, as infrastructure matures.
Management Guidance
Set up 3,000 EV charging points
Target to install 3,000 charging points across strategic locations in the near future, up from 141 currently.
Management guidance expansionCommission phase 1 of biogas plant in FY24
One of India's largest biogas plants in Uttar Pradesh will commission phase 1 in FY24.
Management guidance expansionAccelerate CNG station rollout in ODO/DODO format
Focus on adding more CNG stations in ODO and DODO formats to expand network rapidly.
Management guidance growthKey Risks
Propane competition intensifying
Industrial consumers are switching to cheaper propane/LPG, pressuring PNG volumes. Management responded by offering competitive pricing.
medium · analyst_questionAPM gas allocation deficit may persist
APM allocation deficit was 14% in Q1, trending down but could remain a margin headwind if domestic gas supply doesn't keep pace with demand.
medium · analyst_questionRegulatory risk on CNG/PNG pricing
Analyst raised concern about potential price regulation; management dismissed it, citing natural competition, but risk remains if government intervenes.
low · analyst_questionNotable Quotes
It's like asking a mother which baby you love more. I think all the GAs we have built, we have built with the all strategic thinking.
The foundational work is being done through these policy frameworks. We are also responding to these calls of expanding and accelerating our infrastructure.
We have a good portfolio. We have a multi-index, we have multi-tenures, multi-suppliers.
Frequently Asked Questions
What was Powergrid's revenue in Q1 FY24?
Powergrid reported revenue of ₹1,135 Cr in Q1 FY24, representing a +2% change compared to the same quarter last year.
What guidance did Powergrid management give for FY25?
Set up 3,000 EV charging points: Target to install 3,000 charging points across strategic locations in the near future, up from 141 currently. Commission phase 1 of biogas plant in FY24: One of India's largest biogas plants in Uttar Pradesh will commission phase 1 in FY24. Accelerate CNG station rollout in ODO/DODO format: Focus on adding more CNG stations in ODO and DODO formats to expand network rapidly.
What are the key risks for Powergrid in FY25?
Key risks include Propane competition intensifying — Industrial consumers are switching to cheaper propane/LPG, pressuring PNG volumes. Management responded by offering competitive pricing.; APM gas allocation deficit may persist — APM allocation deficit was 14% in Q1, trending down but could remain a margin headwind if domestic gas supply doesn't keep pace with demand.; Regulatory risk on CNG/PNG pricing — Analyst raised concern about potential price regulation; management dismissed it, citing natural competition, but risk remains if government intervenes..
Did Powergrid meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Powergrid Q1 FY24 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.