Adani Gas Limited Announces for Q2 FY21: Revenue from operations at Rs 441 Crores

BY DARSHANA JAMINDAR

Adani Gas Limited announces Q2 FY21 Results

Registers highest ever EBITDA of INR 218 Cr

13% rise in PAT YoY

Revenue from operations at INR 441 Cr

Operational Highlights Q2 FY21 (Standalone):

• Uninterrupted gas supply (24X7) maintained during the quarter with adoption to the rapidly changing environment
• Despite continued COVID-19 impact, combined volume of CNG and PNG achieved @ 131 MMSCM vs 146 MMCM in Q2 FY20; 90% as compared to Q2 FY20
• Average Volume in Sep’20 was at 1.59 MMSCMD as compared to average volume in Q1 FY21 at 0.71 MMSCMD showing significant volume recovery trend
• The Company has increased its CNG Stations network to 134, Commenced 19 New CNG Stations during the Quarter
• PNG Home Connection increased to 4.46 Lacs (7704 New Connections added in Q2 FY21)
• Commercial & Industrial connection now increased to 4,588
• Revenue from Operations stood at INR 441 Cr vs. Q2 FY20 INR 503 Cr
• EBITDA has increased by 48% YoY to INR 218 Cr vs. Q2 FY20 EBITDA of INR 147 Cr
• PBT before exceptional Item for Q2 FY21 increased by 54% YoY to INR 192 Cr vs. Q2 FY20 PBT of INR 125 Cr
• PAT for Q2 FY21 increased by 13% YoY to INR 136 Cr vs. Q2 FY20 PAT of INR 120 Cr

Other Highlights:

• Consequent to induction of TOTAL Holdings SAS as joint promoter of the company, the Board has approved change of Company Name from Adani Gas Limited (AGL) to Adani Total Gas Limited (ATGL)
• Board has also approved;

• Company to alter its main object clause of Memorandum of Association (MOA) by inserting objects to carry on the businesses of bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment and provision of value-added services relating to CGD business etc.
• The proposal of raising funds by way of issuance of US dollar denominated foreign currency bonds up to US$ 400 million

Ahmedabad, November 3, 2020: Adani Gas Ltd. [“AGL”] today announced the financial results for the second quarter ended 30^th September 2020.

Standalone Financial Highlights:

*During the quarter ended on 30-Sep-20 the Company received an order dated 28th August 2020 from the Hon’ble Supreme Court of India with respect to Service Tax liability on gas connection income pertaining to FY 2008-09.

Commenting on the quarter result of the Company, Mr. Gautam Adani, Chairman, Adani Group said, “Our focus has never wavered from initiatives that are aligned with the nation’s agenda. A gas-based economy is beneficial not just on the sustainability front but also on several other fronts of national importance that include reduced health risk, wider and cleaner range of applications, energy efficiency, transportability as well as helping save foreign exchange given the global gas cost structures. I anticipate gas will be one of the key pillars that will enable India to get an energy mix that is cleaner and superior from multiple dimensions. We are committed to becoming a leader in this sector”.

Mr. Suresh P Manglani, CEO of Adani Gas said, “Adani Gas has reported highest ever financial performance with robust physical performance despite ongoing pandemic. The vision has always been to boost gas infrastructure and the city gas distribution network in order to reach all 19 geographical areas awarded to Adani Gas. We are actively pursuing the strategy of expanding PNG and CNG Infrastructure on fast track mode. Apart from PNG, we are consistently encouraging society to convert their vehicles to environmental- friendly CNG and contribute in reducing the carbon footprint.”