Analyst Concall
Adani Total sees FY27 revenue growth same as FY26
This story was originally published at 14:20 IST on 28 April 2026
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--Adani Total Gas: Get 85% of gas volume from govt-administered sources
--Adani Total Gas: Have not been able to pass hike in gas price to consumers
--Adani Total Gas: See FY27 EBITDA at INR 15 bln
--CONTEXT: Comments by Adani Total Gas mgmt in post-earnings analyst call
--Adani Total Gas: Expect revenue growth in FY27 to be the same as FY26
By Eshitva Prakash and Sunil Raghu
MUMBAI – Adani Total Gas Ltd.'s revenue in 2026-27 (Apr-Mar) will likely grow at the same pace as it did in FY26, its management said in a post earnings conference call with analysts. The company is targetting earnings before interest, tax, depreciation, and amortisation of around INR 15 billion in the current financial year. The gas distributor reported consolidated revenue of INR 64.09 billion in FY26, up over 18% on year. The projection implies an over 22% rise in its EBITDA on a year-on-year basis.
The company said that while gas prices have risen due to the war in West Asia, it decided not to pass on the hike to its customers. "Price has been calibrated, we have not been able to pass through, in the interest of consumers, (but) we maintain our reasonable profitability," Chief Executive Officer Suresh Manglani said.
The company said government policies have been supportive to the city gas distribution sector and adequate supply of gas has been ensured. "There was some shortfall to cater to this priority sector, and the government made an arrangement to supply additional volumes which were higher than the six-month average," the company's management said. The company said 85% of its volumes were drawn from the administered price mechanism allocation, which is the government-regulated supply of domestically produced natural gas to city gas distribution companies in India.
For the quarter ended March, the company reported consolidated net profit of INR 1.68 billion for the March quarter, up almost 9% on year. Its revenue for the quarter, excluding excise duty, was INR 15.57 billion, up 16% on year. At 1346 IST, its shares traded over 2% higher at INR 649.55 on the National Stock Exchange. End
Edited by Akul Nishant Akhoury
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