Adani Total Gas Limited Earnings Summary — Q1 FY2027
Adani Total Gas Reports Revenue Growth of 27% Amidst Legal Resolutions for Non-Executive Director
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 9 consecutive quarters.
- Revenue of ₹1,754 Cr is 27.2% higher year-on-year.
- Revenue has compounded at 19.8% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹142 Cr is 14.2% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at -7.3% annualised across the period.
- Operating margin stands at 15.4% in Q1 FY2027.
- Operating margin compressed by 587 bps year-on-year.
- Over the last two years operating margin has contracted by 1034 bps.
- PBT margin is 10.7%.
- Expenses grew 36.7% against revenue growth of 27.2%.
- Operating profit of ₹270 Cr is 7.9% lower year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 56/100 (Healthy) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 1,754 | 1,557 | 1,507 | 1,451 | 1,379 | 1,341 | 1,294 | 1,219 | 1,145 | 1,167 |
| Expenses | Improving | 1,483 | 1,256 | 1,202 | 1,156 | 1,085 | 1,075 | 1,030 | 913 | 851 | 879 |
| Operating Profit | Stable | 270 | 301 | 305 | 295 | 293 | 266 | 265 | 306 | 295 | 288 |
| Operating Margin | Softening | 15.4% | 19.3% | 20.2% | 20.4% | 21.3% | 19.9% | 20.4% | 25.1% | 25.7% | 24.7% |
| Other Income | Volatile | 23 | 24 | 12 | 12 | 12 | 14 | 8 | 16 | 9 | 19 |
| Interest | Accelerating | 39 | 35 | 41 | 26 | 28 | 24 | 27 | 23 | 26 | 29 |
| Depreciation | Improving | 67 | 63 | 62 | 62 | 56 | 53 | 53 | 51 | 46 | 49 |
| Profit Before Tax | Stable | 187 | 227 | 214 | 219 | 222 | 204 | 192 | 247 | 232 | 229 |
| Tax | Stable | 45 | 59 | 55 | 55 | 57 | 49 | 50 | 62 | 60 | 61 |
| Net Profit | Stable | 142 | 168 | 159 | 163 | 165 | 155 | 142 | 186 | 172 | 168 |
| Net Margin | Softening | 8.1% | 10.8% | 10.5% | 11.3% | 12.0% | 11.5% | 11.0% | 15.2% | 15.0% | 14.4% |
Key Takeaways
- Revenue from operations grew significantly by 27% YoY to ₹1,906.79 Cr, driven by volume-led expansion strategies.
- Net profit saw a decline both YoY (-14%) and QoQ (-16%), impacted by a sharp rise in the cost of natural gas and traded items which rose 40% YoY.
- Finance costs increased to ₹39.10 Cr from ₹27.60 Cr YoY, reflecting the company's capital-intensive expansion phase and higher borrowings.
- Legal proceedings involving a non-executive director in the US have advanced toward settlement/dismissal, with management stating no impact on the Group's operations.
- The company continues to hold its joint venture share of profits, contributing ₹9.57 Cr to the bottom line this quarter.
- Operating margins have been pressured by higher gas procurement costs and increased depreciation and amortization as new GAs are commissioned.
Management Guidance
Management maintains a strategic focus on 'volume-led growth' and infrastructure creation across geographical areas. The company is actively pivoting toward a multi-fuel strategy, including E-mobility (EV charging) and Biomass (CBG) to diversify away from traditional gas.
Sentiment Shift
Stable
While revenue growth remains robust, the contraction in margins and net profit due to higher input costs keeps the sentiment neutral despite strong top-line momentum.
Outlook
The outlook remains positive for top-line growth as ATGL benefits from India's shift to a gas-based economy. However, profitability will remain sensitive to international spot LNG price volatility and the pace of commissioning in new Geographical Areas.
From the Annual Report (Key Quotes)
“The Group's business falls within a single operating segment of selling and distribution of natural gas.”
“US DOJ filed a motion to dismiss the charges in the indictment against the director, with prejudice... matters stated above do not pertain to the Group.”
“Revenue from operations grew to ₹1,906.79 Cr for the quarter ended June 30, 2026.”
Official Quarterly Documents
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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.