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Informist, Friday, Jan. 23, 2026

--Adani Total: Stress on industry demand to continue on cheaper liquid fuels

--Adani Total: Saw addition of 45,000 CNG vehicles Oct-Dec, up 31% QoQ

--CONTEXT: Comments by Adani Total Gas mgmt in post-earnings analyst call

--Adani Total: Focus to achieve healthy growth in addition of CNG stations

By Sunil Raghu and Shreya Shetty

AHMEDABAD/MUMBAI – Adani Total Gas Ltd. will continue to focus on achieving healthy growth in adding compressed natural gas stations across all its geographical areas, the company's management told analysts in a post-earnings conference call Friday.

Though it did not share the exact figures about the number of additions to the current 680, it said the number would be "healthy" this quarter, as well as next year. "...we have launched substantive, you know, incentive plans for our CNG consumers, for either buying new vehicle from any OEM (original equipment manufacturer), Maruti, Hyundai, and any other OEMs. Simiarly, on a retrofitment, we are giving significant amount of cashback of INR 15,000 to INR 20,000 for a vehicle," the management said.

The company said it had seen an addition of over 45,000 CNG vehicles in the December quarter, 31% higher compared to the September quarter, in the geographical areas Adani Total Gas is present in, with 30,000 in Gujarat alone.

CNG sales account for nearly four-fifths of the company's natural gas sales volumes. Of the total sales volume of 289 million standard cubic metres in the December quarter, 200 mscm was by way of CNG and 89 mscm through piped natural gas to residential, industrial and commercial units. 

Including the infrastructure of its 50:50 joint venture with state-owned oil major Indian Oil Corp. Ltd.-- Indian Oil Adani Total Gas Pvt. Ltd.-- the number of CNG stations for Adani Total Gas on a consolidated basis stands at 1,120. 

Adani Total Gas Ltd. Thursday reported a double-digit rise in its bottom line for the December quarter as it saw a substantial rise in demand for natural gas among vehicle users. This upswing in gas demand saw the company record a year-on-year rise in its net profit, after seeing four quarters of year-on-year decline. The natural gas supplier reported a consolidated net profit of INR 1.59 billion for the December quarter, up over 11% on year and down nearly 4% from the trailing quarter. Its consolidated revenue, excluding excise duty, for the December quarter was INR 15.07 billion, up over 16% on year and over 4% on quarter. 
 
While sales of CNG in the December quarter rose 17% on year, sales of natural gas to industrial users grew only 3%. The management attributed this low rise in demand from industrial users to moderate and falling prices of alternative fuels such as liquefied petroleum gas and propane. "...this stress will remain because if the alternate fuels are getting cheaper, particularly the liquid fuels, then that brings, you know, pressure on our pricing as well," the company's management said.

As of Dec. 31, on a consolidated basis, Adani Total had 11,106 industrial and commercial connections across 53 geographical areas it operated in. Of these, 9,751 are in 34 geographical areas it operates in exclusively. 

At 1249 IST, shares of Adani Total traded at INR 528.25 per share on the National Stock Exchange, down 3.5%.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Avishek Dutta

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