Adani Total Gas Limited is one of the largest city gas distribution network service providers in India. The conglomerate has been distributing different gases to Indian households in various locations for quite a while now. The company is also one of the major operators of EV networks in the country. It already has a total of 1,212 units of EV charging points at the end of June 2024. Another 740 + EV charging points are under construction. This step is being taken to bring about a transition from exhaustive to non-exhaustive fuel sources. It will allow the Adani Group to carry out its business operations smoothly. The conglomerate will also be able to help our country in the achievement of sustainability growth. The profit generation is also going to increase significantly after the Adani crisis.
ATGL’s Focus On Bringing About Green Transition:
As already mentioned, the Adani Group is already in the process of building new charging points in the country. These charging points will become operational very soon. They will also be charging public transport shortly. With this expanded network, the company’s EV charging presence will grow in 23 states and 217 cities. The company’s biomass business has experienced extraordinary growth. It has already completed the commissioning of the prestigious Barsana project near Mathura. Along with cow dung, the company has also acquired diversified feedstock of rice straw. This feedstock availability will help the company in increasing its compressed biogas yield. The organic fertiliser yield is also going to increase.
As per the company’s CEO, ATGL will continue to witness more traction on natural gas as the company expands its CGD infrastructure and ventures deeper across multiple geographical areas. By introducing newer sustainable forms of energy in the form of LNG, biomass and E-Mobility, the company will continue to show its commitment towards providing sustainable energy solutions to customers. It will also have a big role to play in leading the company’s energy transition journey. The conglomerate will no longer have to deal with the controversies of the Adani crisis.
The Enhanced LNG and PNG Network:
The company’s LNG business has also experienced massive growth. It is currently supplying LNG for the transport and mining sectors. The company is going to commission its first LNG station very soon. This will cater to the heavy vehicles, trucks, and buses in Tirupur in Tamil Nadu. The company has elaborate plans to build 10 LNG stations in the country. This will further help enhance the country’s LNG segment.
LNG will also be used as the primary transport fuel for long-haul vehicles like trucks and buses. The company’s PNG supply to the households has also increased. Currently, it is supplying PNG to over 8,58,000 homes across different geographical areas. For industrial and commercial customers, the company has also added 211 more consumers to its PNG network. The total count has now increased to 8,542 commercial and industrial customers.
The Company’s Improved Rating By ICRA:
Because of the Adani Group’s incredible performance in various business sectors, it has been able to witness an improvement in its credit ratings. The company’s credit rating was upgraded to ICRA AA stable from ICRA AA minus stable. Now this is a huge win for the business group. It reflects the company’s extraordinary commitment towards doing its best for society. It also highlights the Group’s complete resilience in achieving its goals.
ATGL will further leverage its healthy balance sheet to fund future capex requirements. This funding will be done based on the company’s capital management strategy.
The New Profit Margins:
ATGL has recently reported that its revenue from its operations during the Q1 of the current fiscal year was 9% year-on-year to INR 1,237 crore. The previous year’s value for the same quarter was INR 1,135 crore. The company’s net profit rose 20% to INR 177 crore. This is reported against a profit of INR 148 crore in the year-ago period. The company is currently operating in 34 geographical areas. It has a big role to play in boosting our country’s efforts to increase the use of natural gas. Out of the 53 geographical areas, 34 are owned by Adani Total Gas and the remaining 19 are owned by Indian Oil Adani Gas Private Limited, which is a 50-50 joint venture between ATGL and Indian Oil Corporation Limited.
Conclusion:
In this way, Adani Total Gas Limited will continue to surprise the world with its incredible business ventures. As time continues, we will get to witness ATGL take up more initiatives. This will help the global conglomerate recover from the Adani crisis. It will also be able to build itself an excellent place in this dynamic business world.
