Ahmedabad: Adani Total Gas Limited (“ATGL”), one of India’s leading private companies in the gas utility sector in India announced today its operational and financial performance for the second quarter ended 30th September 2021.
Commenting on the quarter result of the Company, Gautam Adani, Chairman, Adani Group said, “I have very little doubt that gas will continue to play an increasingly important role in India’s energy mix. The ability to distribute gas across the nation is an essential benefit that the Adani Group and TotalEnergies will bring to the people. I’m excited about the possibilities as we move deeper and deeper into all the different Tier 2 and Tier 3 cities and provide them a cleaner fuel. Gas is also a fuel that can have a significant impact on how rural India will live in the future. We are committed to becoming a leader in this sector.”
Standalone Operational and Financial Highlights:
Corporate Governance - Board Charter
In the journey of continuingly strengthening ATGL governance, the board has approved the following:
• New Board Committees:
Suresh P Manglani, CEO of Adani Total Gas said despite significant volatility in international gas prices and Covid-related challenges on the ground being faced in rolling out the infrastructure development, albeit lesser than previous quarters, Team ATGL has yet again delivered all-round excellent performance for Q2FY22 with the delivery of 20 new CNG stations, surpassing of 5 lakh PNG home connections mark and deliver of highest ever EBIDTA of INR 246 Crs in Q2. There is a significant increase in our CNG stations numbers and steel pipeline laying during the quarter. ATGL also executed, during the quarter, a joint venture agreement with 50% shareholding for setting up of manufacturing facility for mechanical and smart gas meters under Atmanirbhar Bharat initiative. Further, ATGL also has signed a definitive agreement for exclusive collaboration for setting up a bio-conversion plant in Barsana having India’s largest cow shelter with around 60,000 cows in a single location.”
About Adani Total Gas
Adani Total Gas Limited is one of India’s leading private players in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to Industrial, Commercial, Domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector. Given its gas distribution mandate catering to 38 Geographical Areas (GAs) which accounts for 8% of India’s population, ATGL plays a significant role in the nation’s efforts in enhancing the share of natural gas in its energy mix. Of these 38 GAs, 19 are managed by ATGL and the rest are managed by Indian Oil-Adani Gas Private Limited (IOAGPL) – a 50:50 joint venture between Adani Total Gas Limited and Indian Oil Corporation Limited.