OIL, GAS & CONSUMABLE FUELS · NSE/BSE: ATGL

Adani Total Gas Limited Earnings Summary — Q4 FY2026

Sentiment: Neutral
AI-generated summary
Generated 2026-06-23

Adani Total Gas Achieves Record Quarterly Sales Amidst Margin Pressure

Net Profit
₹168 Cr
YoY 8.39%
QoQ 5.66%
Prior: ₹155 Cr
Revenue
₹1557 Cr
YoY 16.11%
QoQ 3.32%
Prior: ₹1341 Cr
Operating Margin
19%
YoY -5.00%
QoQ -5.00%
Prior: 20%
Dividend Yield
Dividend payout remains stable at approximately 4% annually; quarterly yield not specified
Net Debt / Equity
0.46
YoY 6.98%
Prior: 0.43

Key Takeaways

  • Revenue growth remains strong with a 16.1% YoY increase, driven by volume expansion across geographical areas.
  • Net profit for the quarter rose to INR 168 Cr, recovering from the sequential dip seen in the first three quarters of FY26.
  • Operating margins have normalized to 19%, reflecting strategic pricing and higher input costs compared to historical peaks.
  • Interest costs increased to INR 35 Cr this quarter, though down from INR 41 Cr in the previous quarter, indicating high capital intensity.
  • Capital expenditure continues to be a priority with Fixed Assets and CWIP scaling significantly to nearly INR 6,315 Cr.
  • The Joint Venture structure with TotalEnergies continues to support the company's technical and operational scalability.

Management Guidance

Management remains focused on a 'volume-led growth' strategy and infrastructure creation, prioritizing long-term market penetration over short-term margin maximization.

Sentiment Shift

Stable

While revenue growth is accelerating, the contraction in operating margins and rising debt levels keep the overall sentiment stable rather than overly positive.

Growth-Oriented
Capital Intensive
Infrastructure-Focused

Outlook

The outlook is positive regarding volume expansion and infrastructure build-out, though the company faces headwinds from interest cost escalations and volatile global gas prices.

From the Annual Report (Key Quotes)

Strategic pivot toward diversifying into E-mobility (EV charging) and Biomass (CBG).

Revenue trends show a 5-year CAGR of 28%, significantly outpacing profit growth.

Vulnerability to international spot gas price spikes remains a key operational risk.

Earnings Call Transcript — Q4 FY2026

Open original
## May 5, 2026

BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051

## Scrip Code: 542066 Scrip Code: ATGL

Dear Sir,

Sub: Transcript of Earnings Call pertaining to the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and financial year ended March 31, 2026

In continuation to our intimation dated April 28, 2026, please find below web link of transcript of the Earnings Call on Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and financial year ended March 31, 2026 held on April 28, 2026.

Web link to access above transcript is as under:

[https://www.adanigas.com/-/media/Project/AdaniGas/Investors/Financials/Earnings-](https://www.adanigas.com/-/media/Project/AdaniGas/Investors/Financials/Earnings-) Call-Transcript-and--Recordings/AdaniTotalGas-Earnings-Apr28-2026.pdf

Copy of the said transcript is also attached herewith.

Kindly take the same on your records.

Thanking you,

Yours faithfully, For Adani Total Gas Limited

Anil Agrawal Company Secretary

## Encl: As above.

Adani Total Gas Limited Tel : +91 79 6624 3200 (Formerly known as Adani Gas Ltd) Fax: +91 79 2754 2988 Crest 4-5, Inspire Business Park [investor.agl@adani.com](mailto:investor.agl@adani.com) Shantigram, Nr. Vaishnodevi Circle, [www.adanigas.com](http://www.adanigas.com/)

S.G.Highway, Ahmedabad – 382 421 Gujarat, India CIN: L40100GJ2005PLC046553 Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421

* * *

# “Adani Total Gas Limited Q4 FY '26 Earnings Conference Call”

# April 28, 2026

## MANAGEMENT: MR. SURESH P. MANGLANI – EXECUTIVE DIRECTOR

### AND CHIEF EXECUTIVE OFFICER – ADANI TOTAL GAS

## LIMITED MR. PREYASH JHAVERI – INTERIM CHIEF FINANCIAL

## OFFICER – ADANI TOTAL GAS LIMITED MR. RAVINDRA DESAI – HEAD OF GAS SOURCING AND

## BUSINESS DEVELOPMENT – ADANI TOTAL GAS LIMITED

## MR. ADISH VAKHARIA – INVESTOR RELATIONS – ADANI TOTAL GAS LIMITED

### Page 1 of 10

* * *

_Adani Total Gas Limited_ _April 28, 2026_

**Moderator:** Ladies and gentlemen, good day, and welcome to Adani Total Gas Limited Q4 FY '26 Earnings Conference Call. From Adani Total Gas, we are joined on the call by Mr. Suresh P. Manglani, Executive Director and CEO; Mr. Preyash Jhaveri, Interim Chief Financial Officer; and Mr. Ravindra Desai, Head of Gas Sourcing and Business Development.

As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touch- tone phone. Please note that this conference is being recorded.

I now hand the conference over to Mr. Suresh P. Manglani, Executive Director and Chief Executive Officer of Adani Total Gas Limited. Thank you, and over to you, Mr. Manglani.

**Suresh P. Manglani:** Thank you. Good morning, everyone. Let me extend a hearty welcome to all our investors, analysts and funds for taking out their time and participating in today's call on quarter 4 and financial year '25-'26 results of Adani Total Gas Limited.

I would like to begin with sharing the update on our business given the ongoing geopolitical situation. 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. Recognizing this, government took several proactive steps like prioritizing supply of pipe natural gas to homes, CNG for transport sector and other key sectors.

Government of India also took several policy initiatives to bring uniformity in grants of the permissions within time, which we are very happy to state that have been reciprocated very well by several state gover

Source: NSE — Latest Concall Transcript

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This summary is AI-generated from Adani Total Gas Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.

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