Adani Total Gas Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Adani Total Gas Ltd filed with BSE on 05 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Adani Total Gas reported Q4 FY26 revenue of Rs 1,696 crores, up 16% year-on-year, and full year FY26 revenue of Rs 6,415 crores, up 18%. CNG volumes grew 17% in Q4 and 18% for the year, while PNG volumes grew 5% in Q4 and 6% for the year. Management discussed the government's gas pool pricing mechanism introduced amid geopolitical disruptions, and detailed network expansion including new CNG stations, PNG connections, and EV charging infrastructure.
3 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue: INR1,696 crores (Q4 FY26)
p. 4
“Total revenue for the fourth quarter starting Jan to March '26 rose by 16% to INR1,696 crores, while revenue for fiscal year 2025-'26 increased by 18% to INR6,415 crores, driven by overall volume growth.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
Revenue: INR6,415 crores (FY26)
p. 4
“Total revenue for the fourth quarter starting Jan to March '26 rose by 16% to INR1,696 crores, while revenue for fiscal year 2025-'26 increased by 18% to INR6,415 crores, driven by overall volume growth.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
EBITDA: INR310 crores (Q4 FY26)
p. 4
“Earnings before interest, tax, depreciation and amortization, which is we call it EBITDA for the fourth quarter starting Jan to March '26 increased by 13% to INR310 crores, while EBITDA for the fiscal year 2025-'26 rose by 5% to INR1,225 crores.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
EBITDA: INR1,225 crores (FY26)
p. 4
“Earnings before interest, tax, depreciation and amortization, which is we call it EBITDA for the fourth quarter starting Jan to March '26 increased by 13% to INR310 crores, while EBITDA for the fiscal year 2025-'26 rose by 5% to INR1,225 crores.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
PBT: INR214 crores (Q4 FY26)
p. 4
“Profit before tax, PAT, the fourth quarter starting from January '26 to March '26, increased by 8% to INR214 crores.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
PBT: INR863 crores (FY26)
p. 4
“while PBT for the financial year '25-'26 was marginally lower by 1% to INR863 crores.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
New domestic PNG connections: nearly 50,000 (Q4 FY26)
p. 3
“Customer addition remained strong with nearly 50,000 new domestic PNG connections added in this quarter, which is our highest addition ever.”
Suresh P. Manglani, page 3 of the filed PDF · View the filing
New domestic PNG connections: about 137,000 (FY26)
p. 3
“For the entire financial year '25-'26, we added about 137,000 new customers, taking our total household tally to 1.1 million.”
Suresh P. Manglani, page 3 of the filed PDF · View the filing
CNG stations added: 25 (Q4 FY26)
p. 4
“Natural expansion remained a key focus with the addition of 25 new CNG stations during the quarter, taking the total network to 705 stations.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
Total CNG stations: 705
p. 4
“Natural expansion remained a key focus with the addition of 25 new CNG stations during the quarter, taking the total network to 705 stations.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
Gas pool price: $12.42 per MMBtu (March 2026)
p. 6
“For the month of March, the gas pool price was $12.42 per MMBtu.”
Ravindra Desai, page 6 of the filed PDF · View the filing
CareEdge-ESG rating: 83 out of 100
p. 4
“I'm pleased to share that ATGL's ESG performance continues to strengthen along with its operational, physical and financial performance with a CareEdge-ESG rating of 83 out of 100, placing us among the top performers in the peer group, alongside an improvement in our NSE Sustainability score to 73 from 67.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — FY27
stated as an aspiration by Preyash Jhaveri
p. 7
“We are expecting the same revenue growth which we have achieved in the current financial year, maybe something more on our newer GA compared to our existing GA in current financial year.”
Preyash Jhaveri, page 7 of the filed PDF · View the filing
EV charging points — 10,000 EV charging points · near term
stated as an aspiration by Suresh P. Manglani
p. 4
“With strong adoption and continued network expansion, we remain on track to achieve our ambition of installing 10,000 EV charging points in the near term, while sharpening our focus on improving utilization across the network.”
Suresh P. Manglani, page 4 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management explained the pool mechanism blends withdrawn RLNG, fertilizer and ONGC volumes plus Vedanta and HPHT gas, with March pool price at $12.42/MMBtu, and later imported LNG was included.
Answered by Ravindra Desai
Asked by Yogesh Patil: What was the gas pool price for March 2026 and what constitutes the gas pool?
p. 6
“So in the month of March, the imported LNG was not available that easily. So that did not include the imported LNG. But in the later part of April, that has come up.”
Ravindra Desai, page 6 of the filed PDF · View the filing
Management said government supplied the full 6-month average and made additional volumes available above that average for the shortfall.
Answered by Ravindra Desai
Asked by Yogesh Patil: Is the company getting enough gas supply to cater to incremental CNG and DPNG demand under the March circular?
p. 7
“So after that 6 months average, definitely, there was some shortfall to cater to this priority sector. And government made an arrangement to supply these additional volumes, which were higher than the 6-month average.”
Ravindra Desai, page 7 of the filed PDF · View the filing
Management guided to similar revenue growth as FY26 and EBITDA of around Rs 1,500 crores.
Answered by Preyash Jhaveri
Asked by Kiran Naik: What is the guidance for FY27 revenue growth and EBITDA margin?
p. 7
“So we are expecting around -- we can say INR 1,500 crores of EBITDA.”
Preyash Jhaveri, page 7 of the filed PDF · View the filing
Management said price increases have been calibrated and largely not passed through to protect consumers, prioritizing volume growth and consumer retention over full cost pass-through.
Answered by Suresh P. Manglani
Asked by Sridhar Chandran: How much pricing flexibility does ATGL have to pass on higher gas costs without hurting demand?
p. 9
“Price has been calibrated. We have not been able to pass through in the interest of a consumer while we maintained our reasonable profitability, which is in front of you all through our announcement of results.”
Suresh P. Manglani, page 9 of the filed PDF · View the filing
Management gave volume splits and said 85% of CNG gas sourcing came from APM/HPHT/WG allocations with the rest bought on spot basis.
Answered by Ravindra Desai
Asked by Arya Patel: What is the breakup of PNG volumes by domestic, industrial and commercial segments, and the Q4 gas sourcing mix?
p. 11
“On the gas sourcing portfolio, For CNG (T) so 85% of our volumes are met from the APM allocation plus HPHT and WG volumes and the different contracts for care.”
Ravindra Desai, page 11 of the filed PDF · View the filing
Risks flagged
Geopolitical tensions disrupting global energy markets and raising natural gas prices
p. 3
“Since late February, geopolitical tensions in West Asia have disrupted global energy markets, resulting in higher natural gas prices, supply chain challenges and compounded currency volatility.”
Suresh P. Manglani, page 3 of the filed PDF · View the filing
Some decline in industrial consumer volumes during the crisis
p. 8
“And you will see from a volume growth, even during this crisis, hardly -- there is a -- hardly 1% here and there of industrial consumer.”
Suresh P. Manglani, page 8 of the filed PDF · View the filing
Imported LNG available only at higher prices, limiting industrial uptake
p. 7
“Probably gas is available, but the imported gas is available at a higher price. So there is no restriction on purchase for the industry.”
Ravindra Desai, page 7 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.