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Adani Total Gas Appoints Preyash Jhaveri as Chief Financial Officer w.e.f. Sep 3, 2026
Adani Total Gas Limited has approved the appointment of Mr. Preyash Jhaveri as Chief Financial Officer and Key Managerial Personnel effective September 3, 2026. Mr. Jhaveri, who holds over 30 years of finance experience and has been with the company since 2007, had been serving as Interim CFO since December 22, 2025. The elevation ensures leadership continuity for the city gas distribution major, which manages TTM revenues of ₹6,679 Cr and PAT of ₹632 Cr across 34 authorized geographical areas.
Confidence: HIGH
What changedFormal appointment and transition of Mr. Preyash Jhaveri from Interim CFO to permanent Chief Financial Officer.
Why it mattersProvides continuity in financial planning, controllership, and balance sheet management without disruption from external leadership changes.
Effective Date: September 3, 2026Interim CFO Since: December 22, 2025Professional Experience: 30+ yearsTenure at Company Since: 2007
📅 Short termNeutral event reflecting routine confirmation of interim leadership, with no immediate impact on operational metrics.
📈 Long termSupports strategic continuity in financing network rollout across 29 new GAs and managing input cost volatility.
Key Highlights
Preyash Jhaveri appointed as Chief Financial Officer and KMP effective September 3, 2026
Served as Interim CFO of the company since December 22, 2025
Brings over 30 years of professional finance experience, having joined the company in 2007
👀 What to Watch
Monitor upcoming quarterly financial execution and capital allocation discipline across ongoing Minimum Work Programme commitments.
ATGL Q1 FY27: 13% Volume Growth and 27% Revenue Jump Amidst 15% Margin Compression
Adani Total Gas Limited (ATGL) reported a 27% YoY revenue increase to ₹1,908 Cr for Q1 FY27, supported by a 13% rise in total gas sales volume to 303 MMSCM. Despite the top-line growth, operating margins have compressed to approximately 15% from historical levels of 25% due to reduced APM gas allocations and higher reliance on expensive spot LNG. The company continues its infrastructure push, adding 38,000 domestic PNG connections and expanding its EV charging network to 5,306 points. Management is focusing on mid-term gas sourcing contracts to mitigate spot market volatility.
Confidence: HIGH
What changedThe company is actively transitioning into an integrated clean energy platform, scaling its EV charging and biomass verticals while navigating a structural reduction in low-cost APM gas allocation.
Why it mattersWhile volume growth remains robust, the sustained margin compression highlights the vulnerability of CGD players to global gas price volatility and domestic regulatory shifts in gas allocation.
Q1 FY27 Revenue: ₹1,908 CrRevenue vs TTM Revenue: 30.4%Gas Sales Volume: 303 MMSCMCNG Stations: 707EV Charging Points: 5,306Operating Margin: ~15%
📅 Short termThe stock may face pressure as the market digests the continued margin compression despite strong volume and revenue growth.
📈 Long termStructural growth remains intact through expansion in 34 GAs and the EV ecosystem, but long-term profitability depends on gas sourcing efficiency and PNG penetration.
⚠ Risk flags
- Margin compression due to reduced APM gas allocation
- Geographic concentration (Ahmedabad GA)
- Exposure to volatile spot LNG prices
Key Highlights
Total gas sales volume reached 303 MMSCM, reflecting a 13% YoY growth led by 18% growth in CNG.
Revenue from operations stood at ₹1,908 Cr, representing approximately 30.4% of the TTM revenue.
Operating margins have compressed from ~25% to ~15% over the last 6-8 quarters due to gas sourcing costs.
EV charging network reached 5,306 points with a 100% YoY growth in electrons sold (3.3 million units).
Added 38,000 new household connections, bringing the total domestic customer base to 11.41 lakh.
👀 What to Watch
Monitor the company's ability to secure mid-to-long term gas contracts to stabilize margins and watch for any regulatory restoration of the pooled gas mechanism.
27% Revenue Growth in Q1FY27; PAT Declines 18% as Gas Costs Surge 39%
Adani Total Gas Limited (ATGL) reported a strong 27% YoY revenue growth to ‑1,910 Cr for Q1FY27, supported by a 13% increase in total sales volume (303 MMSCM). However, standalone Profit After Tax (PAT) declined by 18% YoY to ‑133 Cr due to a sharp 39% rise in gas procurement costs. This margin pressure was driven by a reduction in low-cost APM gas allocation to ~30% (from 36% in the previous quarter) and elevated Brent-linked gas prices. Despite these headwinds, the company continued its infrastructure push, adding 38,243 PNG connections and reaching 5,306 EV charging points.
Confidence: HIGH
What changedATGL experienced a significant shift in its gas sourcing mix, with lower domestic APM allocation forcing a higher reliance on expensive spot and contract LNG, which decoupled revenue growth from profitability.
Why it mattersThe results underscore the vulnerability of City Gas Distribution (CGD) margins to regulatory allocation changes and global energy price volatility, even when operational demand remains robust.
Revenue (Q1FY27): ‑1,910 CrStandalone PAT (Q1FY27): ‑133 CrGas Procurement Cost: ‑1,454 CrCNG Sales Volume: 218 MMSCMAPM Allocation: ~30%Revenue vs TTM Revenue: ~30.5%
📅 Short termThe stock may face pressure due to the 18% PAT decline and margin compression, despite the strong top-line performance.
📈 Long termStructural growth remains intact through aggressive network expansion and diversification into EV charging and Biogas, though long-term margins depend on gas pricing stability.
⚠ Risk flags
- Reduced APM gas allocation
- High gas procurement costs
- Geographic concentration in Ahmedabad
- Currency depreciation impacting LNG costs
Key Highlights
Revenue from operations increased 27% YoY to ‑1,910 Cr, representing ~30.5% of TTM revenue.
Total sales volume grew 13% YoY to 303 MMSCM, with CNG volumes specifically rising 18% YoY.
Gas procurement costs surged 39% YoY to ‑1,454 Cr, leading to a 7% decline in Standalone EBITDA to ‑281 Cr.
APM gas allocation for the CNG segment reduced to ~30% from 36% in the preceding quarter.
EV charging infrastructure expanded to 5,306 installed points across 26 states and 226 cities.
👀 What to Watch
Investors should monitor the company's ability to pass through higher gas costs to consumers without impacting volume growth. Key triggers to watch include any recovery in APM gas allocation levels and the pace of monetization in the new-age EV and Biomass segments.
ATGL Q1 FY27: Revenue up 27% to ₹1,907 Cr; PAT Declines 14% on Higher Gas Costs
Adani Total Gas Limited (ATGL) reported a strong 27.3% YoY revenue growth to ₹1,906.79 cr for the quarter ended June 30, 2026. However, net profit declined by 14.2% YoY to ₹141.72 cr, primarily due to a 40.3% surge in the cost of natural gas, which reached ₹1,302.51 cr. While the share of profit from joint ventures more than doubled to ₹9.57 cr, it was insufficient to offset the margin compression. The company also noted that US legal proceedings against a non-executive director are nearing resolution with no expected impact on the company.
Confidence: HIGH
What changedThe Q1 FY27 results show a shift where strong volume-led revenue growth is being offset by significantly higher gas procurement costs, leading to a bottom-line contraction.
Why it mattersFor a company trading at a high P/E of 119.6, earnings contraction is a significant concern as it suggests that infrastructure exclusivity is not fully insulating the company from global gas price volatility.
Revenue (Q1 FY27): ₹1,906.79 crPAT (Q1 FY27): ₹141.72 crGas Cost Increase (YoY): 40.3%Revenue vs TTM Revenue: ~30.4%JV Profit Contribution: ₹9.57 cr
📅 Short termThe stock may face downward pressure in the short term as the market reacts to the 14% decline in net profit and the impact of rising input costs on margins.
📈 Long termLong-term growth remains tied to the execution of the Minimum Work Programme across 29 new GAs and the expansion of the E-Mobility and Biomass subsidiaries.
⚠ Risk flags
- Input cost volatility (Natural Gas)
- Geographic concentration (Ahmedabad GA at 38% of volume)
- Regulatory risk regarding APM gas allocation
Key Highlights
Revenue from operations increased 27.3% YoY to ₹1,906.79 cr from ₹1,498.32 cr.
Net profit for the period fell 14.2% YoY to ₹141.72 cr compared to ₹165.24 cr in the previous year.
Cost of natural gas and traded items surged 40.3% YoY to ₹1,302.51 cr, significantly outpacing revenue growth.
Share of profit from joint ventures (including IOAGPL) rose to ₹9.57 cr from ₹4.21 cr YoY.
US DOJ filed a motion to dismiss charges against a non-executive director on May 18, 2026, indicating a nearing legal resolution.
👀 What to Watch
Investors should monitor the company's ability to pass on rising input costs to end-consumers in the CNG and PNG segments. Key to future performance will be the volume ramp-up in the 14 new Geographical Areas (GAs) won in the 11th bidding round.
ATGL Shareholders Approve Dividend and Re-appointment of Gautam Adani at 21st AGM
Adani Total Gas Limited (ATGL) successfully passed all six resolutions at its 21st Annual General Meeting held on June 25, 2026. Key approvals include the adoption of FY 2025-26 financial statements and the official declaration of a dividend for the same period. Shareholders also overwhelmingly supported the re-appointment of Mr. Gautam S. Adani and Dr. Sangkaran Ratnam as Directors. The voting results, verified by a scrutinizer, showed near 100% approval across all major items, indicating strong institutional and retail support.
Key Highlights
Dividend for FY 2025-26 officially declared following shareholder approval at the AGM.
Resolution to re-appoint Mr. Gautam S. Adani as Director passed with 100% of valid votes cast in favor.
Over 1.028 billion shares were voted in favor of adopting the consolidated financial statements for FY26.
Ratification of remuneration for Cost Auditors M/s. N D Birla & Co. for FY 2026-27 was approved.
All resolutions were passed with the requisite majority through remote e-voting and electronic voting during the meeting.
👀 What to Watch
Investors should view the near-unanimous approval of resolutions as a sign of management stability and governance confidence. No immediate action is required, but shareholders should track the record date for the approved dividend payout.
Adani Total Gas Assigned 'Strong' ESG Rating of 67 by ESGRisk.ai
Adani Total Gas Limited (ATGL) has been assigned an Environmental, Social, and Governance (ESG) rating of 67 by ESGRisk.ai, placing it in the 'Strong' category. This rating identifies the company as an ESG leader with a robust framework for managing material risks. Notably, the rating was assigned independently based on public domain data without the company's direct engagement. This external validation is likely to enhance the company's appeal to sustainability-focused institutional investors.
Key Highlights
Assigned an ESG rating of 67 by ESGRisk.ai under the 'Strong' category.
Recognized as an ESG leader for managing material risks through a robust framework.
The rating was independently prepared by the agency using public data without company engagement.
Disclosure made in compliance with Regulation 30 of SEBI Listing Regulations.
👀 What to Watch
Investors should view this as a positive qualitative indicator of the company's governance and sustainability standards. While it doesn't impact immediate financials, it may improve institutional sentiment and inclusion in ESG-themed portfolios.
Adani Total Gas Appoints Sanjay Pandita as CEO; Suresh Manglani Redesignated as Executive Director
Adani Total Gas Limited (ATGL) has announced a leadership transition effective May 22, 2026, as part of its succession planning. Mr. Sanjay Pandita, an industry veteran with over 25 years of experience in Natural Gas and LNG, will take over as the new Chief Executive Officer. The outgoing CEO, Mr. Suresh P. Manglani, who has led the company since 2018, will continue to serve the board as an Executive Director. This transition aims to leverage Mr. Pandita's expertise in clean energy and commercial transformations to drive the company's future growth.
Key Highlights
Mr. Sanjay Pandita appointed as CEO effective May 22, 2026, bringing 25+ years of energy sector experience.
Mr. Suresh P. Manglani transitions from CEO to Executive Director after leading the company since September 2018.
New CEO Sanjay Pandita has prior leadership experience at RIL/Jiobp, Mahanagar Gas, and Gujarat Gas.
The transition is part of a formal succession planning strategy to ensure leadership continuity.
Mr. Pandita's background includes significant work in Biogas, LNG for transportation, and Hydrogen mobility.
👀 What to Watch
Investors should view this as a planned leadership transition; monitor for any strategic shifts in the company's low-carbon energy roadmap under the new CEO.
ATGL Shareholders Approve Re-appointment of Suresh P Manglani with 99.89% Majority
Adani Total Gas Limited (ATGL) shareholders have overwhelmingly approved the re-appointment of Mr. Suresh P Manglani as Whole Time Director, designated as Executive Director. The resolution was passed via postal ballot with 99.89% of the votes cast in favor. Total voter participation was high, with 90.55 crore votes polled, representing approximately 82.33% of the company's total equity capital. This approval ensures leadership continuity within the executive management team.
Key Highlights
Resolution for re-appointment passed with 99.89% majority (90.45 crore votes in favor).
Total votes polled reached 90.55 crore, accounting for 82.33% of the total paid-up equity capital.
Promoter and Promoter Group voted 100% in favor of the resolution with 82.27 crore votes.
Public Institutional investors showed strong support with 98.78% of their votes cast in favor.
The e-voting process was conducted from April 7, 2026, to May 6, 2026, involving over 6.5 lakh shareholders.
👀 What to Watch
The strong shareholder mandate for the Executive Director indicates high confidence in the current leadership and strategic path. Investors should view this as a positive sign of stability and governance continuity.
ATGL Q4 FY26: Revenue Up 16% to ₹1,696 Cr, CNG Volumes Grow 17% YoY
Adani Total Gas Limited (ATGL) reported a robust 16% YoY revenue growth in Q4 FY26, reaching ₹1,696 crores, driven by strong volume expansion. CNG volumes grew by 17% while PNG volumes increased by 5% during the quarter, supported by a record addition of 50,000 new domestic connections. While EBITDA grew 13% in Q4, the full-year PBT saw a marginal 1% decline due to geopolitical tensions and higher gas prices. The company is scaling its e-mobility footprint with 5,100 EV charging points now operational across 226 cities.
Key Highlights
Q4 FY26 Revenue increased 16% YoY to ₹1,696 Cr; EBITDA rose 13% to ₹310 Cr.
CNG volume growth of 17% in Q4 and 18% for the full year FY26.
Record 50,000 new domestic PNG connections added in Q4, totaling 1.1 million households.
EV charging network expanded to 5,100 points with a target of 10,000 in the near term.
March 2026 gas pool price stood at $12.42 per MMBtu amid global energy market volatility.
👀 What to Watch
Investors should monitor the company's ability to maintain margins as gas pool prices fluctuate and track the utilization rates of the rapidly expanding EV charging network. The strong volume growth in the core CGD business remains a key long-term positive.
Adani Total Gas FY26 Revenue Up 18% to ₹6,415 Cr; CNG Volumes Grow 18% YoY
Adani Total Gas Limited (ATGL) reported a robust 18% YoY increase in standalone revenue to ₹6,415 crore for FY26, supported by a 14% growth in total sales volumes. While EBITDA grew 5% to ₹1,225 crore for the full year, the company faced margin pressure due to reduced APM gas allocation (down to 36%) and higher procurement costs. Infrastructure expansion remained aggressive, with the CNG network reaching 705 stations and EV charging points scaling to 5,100. Consolidated PAT for Q4 FY26 showed resilience, growing 9% YoY to ₹168 crore despite geopolitical volatility.
Key Highlights
Total sales volume increased 14% YoY to 1,133 MMSCM, driven by an 18% surge in CNG volumes.
Standalone FY26 Revenue rose 18% to ₹6,415 Cr, while Q4 EBITDA grew 13% YoY to ₹310 Cr.
Infrastructure reached 705 CNG stations and ~1.1 million PNG home connections by year-end.
Adani TotalEnergies E-mobility expanded to 5,100 EV charging points across 226 cities.
Cost of natural gas rose 18% in Q4 due to lower APM allocation and higher spot prices from geopolitical tensions.
👀 What to Watch
Investors should focus on ATGL's volume growth trajectory and its ability to pass on higher gas costs as APM allocations decline. The rapid scaling of the EV charging and biomass segments offers significant long-term diversification potential beyond traditional gas distribution.
Adani Total Gas Recommends ₹0.25 Dividend; Sets June 12 as Record Date
Adani Total Gas Limited has recommended a final dividend of ₹0.25 per equity share for the financial year 2025-26. The company has established June 12, 2026, as the record date to identify eligible shareholders for the payout. This announcement coincides with the board's approval of the audited financial results for the fiscal year ending March 31, 2026. The dividend payment is scheduled to begin on or after June 26, 2026, following approval at the Annual General Meeting.
Key Highlights
Recommended a final dividend of ₹0.25 per equity share (25% of face value).
Fixed June 12, 2026, as the Record Date for dividend eligibility.
The 21st Annual General Meeting (AGM) is set for June 25, 2026.
Dividend payout to commence on or after June 26, 2026, subject to shareholder approval.
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the ex-dividend date. Long-term investors should review the full FY26 audited results for operational performance metrics.
Adani Total Gas Recommends 25% Final Dividend of Rs 0.25 Per Share for FY 2025-26
The Board of Adani Total Gas Limited has recommended a final dividend of Rs 0.25 per equity share (25% of face value) for the financial year ended March 31, 2026. The company has fixed June 12, 2026, as the record date to determine shareholder eligibility for this payout. This recommendation follows the approval of the company's audited financial results for the full year, which received an unmodified audit opinion from statutory auditors. The dividend is subject to shareholder approval at the upcoming Annual General Meeting scheduled for June 25, 2026.
Key Highlights
Recommended a final dividend of Rs 0.25 per equity share of face value Rs 1 (25% payout)
Fixed June 12, 2026, as the record date for determining dividend entitlement
The 21st Annual General Meeting (AGM) is scheduled for June 25, 2026
Statutory auditors issued an unmodified opinion on the FY26 financial results
Dividend payment is expected to commence on or after June 26, 2026, post-AGM approval
👀 What to Watch
Investors should ensure they hold shares by the record date of June 12, 2026, to be eligible for the dividend. While the absolute dividend amount is small, the unmodified audit report confirms the reliability of the reported financial performance.
Adani Total Gas FY26 Results: Board Recommends ₹0.25 Dividend per Share
Adani Total Gas Limited (ATGL) has approved its audited financial results for the quarter and fiscal year ended March 31, 2026. The Board has recommended a dividend of ₹0.25 per equity share of face value ₹1, which is subject to shareholder approval. The statutory auditors, Walker Chandiok & Co LLP, have issued an unmodified opinion on the financial results, ensuring transparency. The company has scheduled its 21st Annual General Meeting for June 25, 2026, to finalize these proceedings.
Key Highlights
Recommended a dividend of ₹0.25 per equity share (25% of face value) for FY 2025-26
Fixed June 12, 2026, as the record date for determining dividend eligibility
Statutory auditors issued an unmodified opinion on both standalone and consolidated results
The 21st Annual General Meeting (AGM) is scheduled for June 25, 2026
Dividend payment is scheduled to commence on or after June 26, 2026
👀 What to Watch
Investors should review the full financial tables for revenue and volume growth metrics once available. The dividend yield remains low, so the focus should be on the company's long-term infrastructure expansion and margin stability.
Adani Total Gas Achieves Top 'Care Edge – ESG 1+' Rating with 83.3 Score
Adani Total Gas Limited (ATGL) has been assigned the highest ESG rating of 'Care Edge – ESG 1+' by CARE ESG Ratings Limited. The company achieved a score of 83.3, placing it in a leadership position for managing Environmental, Social, and Governance risks. This rating highlights the company's best-in-class disclosures and robust policy framework. For investors, this high score enhances the company's profile for ESG-focused institutional funds and potentially lowers the cost of future capital.
Key Highlights
Assigned 'Care Edge – ESG 1+' rating, the highest tier for ESG risk management
Achieved a high ESG score of 83.3 out of 100
Recognized for leadership in best-in-class disclosures, policies, and performance
Disclosure made in compliance with SEBI Listing Regulations and Master Circulars
👀 What to Watch
Investors should consider this a positive development for long-term sustainability and institutional appeal. Monitor if this rating leads to increased weightage in ESG-themed indices or funds.
ATGL Reports Gas Supply Disruptions; Govt Issues Priority Order for CNG and Domestic PNG
Adani Total Gas Limited (ATGL) has reported gas supply curtailments from its suppliers due to escalating geopolitical tensions in the Middle East and disruptions in the Strait of Hormuz. In response, the Ministry of Petroleum and Natural Gas has issued the Natural Gas (Supply Regulation) Order, 2026, to prioritize essential sectors. While Domestic PNG and CNG for transport will receive 100% of their 6-month average consumption, industrial and commercial customers are capped at 80%. ATGL is currently assessing the impact on its industrial segment, which is facing supply reductions.
Key Highlights
Geopolitical conflict in the Middle East has led to force majeure by LNG suppliers, impacting ATGL's industrial supply.
New government order mandates 100% priority supply for Domestic PNG and CNG for transport based on 6-month averages.
Industrial and Commercial consumers in CGD networks will see gas supply limited to 80% of their 6-month average.
Fertilizer plants are allocated 70% of their past 6-month average gas consumption to manage the shortage.
A pooled pricing mechanism will be notified by PPAC for natural gas diverted from non-priority sectors like petrochemicals.
👀 What to Watch
Investors should monitor the duration of the Middle East conflict as a prolonged 20% supply cap on industrial customers could hurt volume growth and margins. Keep a close watch on the 'pooled price' notifications which will determine the cost of diverted gas for ATGL.
ATGL Q3 FY26: Revenue Rises 17% to ₹1,631 Cr; CNG Volume Growth Strong at 17%
Adani Total Gas reported a robust 17% YoY increase in Q3 FY26 revenue to ₹1,631 crores, driven by an 18% growth in CNG volumes over the nine-month period. EBITDA for the quarter rose 15% to ₹313 crores, although nine-month PAT saw a marginal 3% decline to ₹481 crores due to specific cost impacts. The company expanded its infrastructure significantly, reaching 680 CNG stations and 1.05 million domestic PNG connections. Regulatory shifts, including a simplified two-zone transmission tariff, are expected to improve cost frameworks and affordability for consumers.
Key Highlights
Revenue from operations grew 17% YoY to ₹1,631 crores in Q3 FY26.
CNG volumes increased by 17% YoY in Q3 and 18% for the nine-month period.
Network expanded to 680 CNG stations and 1.05 million domestic PNG connections.
E-mobility segment reached nearly 5,000 charge points across 226 cities.
S&P Dow Jones Sustainability Index score improved to 72, ranking 9th globally in gas utilities.
👀 What to Watch
Investors should monitor the impact of the new 2-zone transmission tariff on margins and the continued rapid scaling of the EV charging network. The strong volume growth in CNG suggests high market penetration, making it a solid long-term play in the energy transition space.
Adani Total Gas Clarifies on US Legal Summons Media Reports
Adani Total Gas Limited (ATGL) has responded to stock exchange queries regarding media reports about US regulators seeking to serve legal summons to Gautam and Sagar Adani. The company clarified that it is not a party to these legal proceedings and no allegations have been made against the company itself. ATGL maintains that the news does not trigger any mandatory disclosure requirements under SEBI Regulation 30. This response follows a similar clarification provided by the company previously on November 21, 2024.
Key Highlights
ATGL clarified it is not a party to the US legal proceedings mentioned in media reports dated January 23, 2026.
The company stated that no allegations have been made against Adani Total Gas Limited specifically.
Management confirmed that the news item does not trigger disclosure requirements under SEBI Listing Regulations.
The response refers back to a previous clarification issued on November 21, 2024, regarding similar matters.
👀 What to Watch
Investors should monitor the broader legal developments involving the Adani Group promoters in the US, as these can impact sentiment and stock volatility. Since the company itself is not directly involved, the fundamental impact remains limited for now.
ATGL Q3 FY26 Results: PAT Rises 10% to INR 157 Cr; Revenue Up 17% on Strong Volume Growth
Adani Total Gas Limited (ATGL) reported a steady Q3 FY26 with standalone revenue growing 17% YoY to INR 1,631 crore, driven by a 12% increase in total sales volume. While Q3 PAT grew 10% to INR 157 crore, the 9-month PAT saw a marginal decline of 4% due to lower APM gas allocation (41%) and higher costs of imported R-LNG. The company is aggressively expanding its infrastructure, reaching 680 CNG stations and nearly 5,000 EV charging points. Regulatory tailwinds like the transition to 2% CST and simplified transmission tariffs are expected to support future cost structures.
Key Highlights
Standalone Revenue for Q3 FY26 grew 17% YoY to INR 1,631 Cr, while EBITDA rose 15% to INR 313 Cr.
Total sales volume increased 12% YoY to 289 MMSCM, with CNG volumes specifically jumping 17%.
CNG network expanded to 680 stations and PNG household connections reached 10.5 lakh.
Adani TotalEnergies E-mobility footprint grew to 4,908 EV charge points across 226 cities.
APM gas allocation for CNG remained low at 41%, necessitating costlier sourcing from NWG and R-LNG.
👀 What to Watch
Investors should monitor ATGL's ability to maintain margins as APM gas allocation remains low, forcing reliance on costlier imported gas. The rapid expansion in EV charging and biomass segments offers long-term diversification value beyond traditional gas distribution.
ATGL Q3 Results: Net Profit Rises 11.4% YoY to ₹158.65 Crore; Revenue Up 17%
Adani Total Gas reported a steady performance for the quarter ended December 31, 2025, with consolidated revenue from operations growing 17% YoY to ₹1,639.22 crore. Net profit for the quarter increased by 11.4% to ₹158.65 crore, supported by higher sales volumes despite rising gas procurement costs. However, finance costs saw a significant jump of 48% YoY to ₹40.63 crore, impacting overall margins. The company continues to navigate regulatory challenges regarding geographical area authorizations in Noida and Faridabad.
Key Highlights
Revenue from operations increased 17% YoY to ₹1,639.22 crore in Q3 FY26.
Consolidated Net Profit grew 11.4% YoY to ₹158.65 crore compared to ₹142.38 crore in Q3 FY25.
Finance costs surged to ₹40.63 crore from ₹27.47 crore in the same quarter last year.
Nine-month revenue stands at ₹4,713.92 crore, up from ₹3,958.31 crore in the previous year.
Company continues to contest PNGRB orders regarding GA authorizations in Noida and Faridabad.
👀 What to Watch
Investors should monitor the impact of rising finance costs and the resolution of regulatory disputes over new geographical areas. The steady revenue growth suggests strong demand, making it a suitable hold for long-term energy transition portfolios.
Adani Total Gas Appoints Preyash Jhaveri as Interim CFO
Adani Total Gas Limited (ATGL) has appointed Mr. Preyash Jhaveri as the Interim Chief Financial Officer and Key Managerial Personnel, effective December 22, 2025. Mr. Jhaveri, who has been with the company since 2007 and currently serves as Financial Controller, brings over 30 years of experience in finance, taxation, and audits. This interim appointment ensures continuity in financial leadership while the board searches for a permanent CFO. The board meeting for this decision concluded within 40 minutes, reflecting a swift transition process.
Key Highlights
Mr. Preyash Jhaveri appointed as Interim CFO effective December 22, 2025
Appointee has over 30 years of experience across sectors like Energy, Gas, and Wind Power
Mr. Jhaveri has been a part of ATGL since 2007, currently serving as Financial Controller
The appointment is valid until a permanent CFO is selected by the Board of Directors
👀 What to Watch
Investors should view this as a routine administrative transition given the appointee's long tenure with the company. Monitor for the announcement of a permanent CFO to understand the long-term financial leadership direction.
