|
Results
30-Jan-24
|
|
|
|
|
Analysis
|
|
Adani Total Gas
|
Sales volume increased 13% in 9MFY24
|
|
|
Adani
Total Gas consolidated net sales increased 4.58% to Rs 1156.14 crore during
Q3FY24 compared to Q3FY23. Operating profit margin has jumped from 20.80% to
24.91%, leading to 25.26% rise in operating profit to Rs 288.03 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 70.19% to 63.75%. Employee cost decreased from 1.50% to
1.44%. Other expenses rose from 7.49%
to 9.94%.
CNG
Volume has increased by 24% Y-o-Y on account of reduction in CNG prices along
with network expansion of CNG stations. PNG Volume has increased by 15% Y-o-Y
mainly due to recovery in PNG industrial volume as ATGL offered better price
proposition to its consumers.
Other
income rose 51.65% to Rs 12.42 crore.
PBIDT rose 26.17% to Rs 300.45 crore.
Provision for interest rose 397.62% to Rs 31.4 crore.
PBDT
rose 16.06% to Rs 269.05 crore.
Provision for depreciation rose 24.28% to Rs 38.6 crore.
Profit
before tax grew 14.79% to Rs 230.45 crore.
Share of profit/loss was 155.71% higher at Rs 5.37 crore. Provision for tax was expense of Rs 59.18
crore, compared to Rs 52.67 crore.
Effective tax rate was 25.10% compared to 25.96%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 17.61% to Rs
176.64 crore.
Promoters’
stake was 74.80% as of 31 December 2023 compared to 74.80% as of 31 December
2022 .
“With
expansion of CGD infrastructure, together with ceasing opportunity in the areas
of emobility, biomass and LNG for Transport & Mining (LTM), ATGL has once
again delivered a double-digit growth in volumes of 13% Y-o-Y on nine months
basis. The rise in volume coupled with efficient gas sourcing and an ‘eye’ on
opex have led to increase in EBIDTA by 20% Y-o-Y in nine months. Company’s
present priority is to focus on providing easy access of natural gas in the
form of PNG and CNG by fast tracking the infrastructure development in all our
Geographical Areas,” said Mr. Suresh P
Manglani, ED & CEO of Adani Total Gas. “With our consumer centricity
approach, apart from e-mobility and biomass (CBG) we are now also embarking
upon LNG for Transport & Mining (LTM). ATGL will provide decarbonizing
solutions for various entities and help in reducing carbon footprint. Our
strategy will be to offer a wider range
of cleaner energy fuel to all our consumers”.
For year-to-date (YTD)
results analysis
Net
sales (including other operating income) of Adani Total Gas has increased 1.36%
to Rs 3307.79 crore. Although the
overall volume has increased by 13% Y-o-Y, Revenue from operations has
increased by 2% due to reduction in gas cost especially APM gas as ATGL passed
on the benefit of APM gas price reduction to consumers which resulted into
lower sales price. CNG Volume increased by 21% Y-o-Y on account of the
reduction in CNG prices along with network expansion of CNG stations. With
recovery of PNG Industrial Volume and addition of new PNG connection in domestic
and commercial, PNG Volume has increased by 1%.
Operating
profit margin has jumped from 20.67% to 24.66%, leading to 20.90% rise in
operating profit to Rs 815.70 crore on account of higher volume and balanced
price strategy.. Raw material cost as a
% of total sales (net of stock adjustments) decreased from 69.75% to
64.76%. Employee cost increased from
1.26% to 1.45%. Other expenses rose
from 8.27% to 9.14%.
Other
income rose 5.99% to Rs 29 crore. PBIDT
rose 20.32% to Rs 844.7 crore. Provision
for interest rose 77.83% to Rs 82.37 crore.
PBDT
rose 16.25% to Rs 762.33 crore.
Provision for depreciation rose 32.50% to Rs 108.97 crore.
Profit
before tax grew 13.93% to Rs 653.36 crore.
Share of profit/loss was 41.34% lower at Rs 13.68 crore. Provision for tax was expense of Rs 167.5
crore, compared to Rs 148.24 crore.
Effective tax rate was 25.11% compared to 24.84%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 11.36% to Rs
499.54 crore.
Promoters’
stake was 74.80% as of 31 December 2023 ,compared to 74.80% as of 31 December
2022 .
The
scrip trades at Rs 1028
Adani Total Gas : Consolidated Results
|
Particulars
|
2312 (03)
|
2212 (03)
|
Var.(%)
|
2312 (09)
|
2212 (09)
|
Var.(%)
|
2303 (12)
|
2203 (12)
|
Var.(%)
|
Net Sales
|
1,156.14
|
1,105.56
|
5
|
3,307.79
|
3,263.41
|
1
|
4,378.19
|
3,037.81
|
44
|
OPM (%)
|
24.91
|
20.8
|
|
24.66
|
20.67
|
|
19.87
|
25.45
|
|
OP
|
288.03
|
229.94
|
25
|
815.7
|
674.7
|
21
|
869.87
|
773
|
13
|
Other Inc.
|
12.42
|
8.19
|
52
|
29
|
27.36
|
6
|
36.85
|
41.5
|
-11
|
PBIDT
|
300.45
|
238.13
|
26
|
844.7
|
702.06
|
20
|
906.72
|
814.5
|
11
|
Interest
|
31.4
|
6.31
|
398
|
82.37
|
46.32
|
78
|
78.43
|
52.73
|
49
|
PBDT
|
269.05
|
231.82
|
16
|
762.33
|
655.74
|
16
|
828.29
|
761.77
|
9
|
Depreciation
|
38.6
|
31.06
|
24
|
108.97
|
82.24
|
33
|
113.1
|
82.73
|
37
|
PBT
|
230.45
|
200.76
|
15
|
653.36
|
573.5
|
14
|
715.19
|
679.04
|
5
|
Share of Profit/(Loss) from Associates
|
5.37
|
2.1
|
156
|
13.68
|
23.32
|
-41
|
17.35
|
4.74
|
266
|
PBT before EO
|
235.82
|
202.86
|
16
|
667.04
|
596.82
|
12
|
732.54
|
683.78
|
7
|
EO Income
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
PBT after EO
|
235.82
|
202.86
|
16
|
667.04
|
596.82
|
12
|
732.54
|
683.78
|
7
|
Taxation
|
59.18
|
52.67
|
12
|
167.5
|
148.24
|
13
|
186.05
|
174.38
|
7
|
PAT
|
176.64
|
150.19
|
18
|
499.54
|
448.58
|
11
|
546.49
|
509.4
|
7
|
Minority Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
Net profit
|
176.64
|
150.19
|
18
|
499.54
|
448.58
|
11
|
546.49
|
509.4
|
7
|
EPS (Rs)*
|
#
|
#
|
|
#
|
#
|
|
4.97
|
4.63
|
|
Notes
|
* EPS is on current equity of Rs 109.98 crore, Face value of Rs
1, Excluding extraordinary items.
|
# EPS is not annualised
|
bps : Basis points
|
EO : Extraordinary items
|
Figures in Rs crore
|
Source: Capitaline Corporate Database
|
|
|
Previous News |
Adani Total Gas
(
Results
-
Analysis
30-Jul-24
11:02
)
|
|
Sensex adds 225 pts; European mkt opens higher
(
Market Commentary
-
Mid-Session
23-Sep-24
13:34
)
|
|
Adani Total Gas appoints director
(
Corporate News
-
21-Mar-24
18:12
)
|
|
Adani Total Gas consolidated net profit rises 17.69% in the December 2022 quarter
(
Results
-
Announcements
09-Feb-23
16:47
)
|
|
Adani Total Gas
(
Results
-
Analysis
30-Jan-24
21:36
)
|
|
Adani Total Gas gains on bagging order from Ahmedabad Municipal Corporation
(
Hot Pursuit
-
06-Sep-23
15:37
)
|
|
Adani Total Gas to conduct board meeting
(
Corporate News
-
26-Oct-23
16:52
)
|
|
ICRA upgrades Adani Total Gas LT rating to "AA" with 'stable' outlook
(
Hot Pursuit
-
29-May-24
16:20
)
|
|
Adani Total Gas to declare Quarterly Result
(
Corporate News
-
22-Jan-24
11:55
)
|
|
Zensar Technologies Ltd leads losers in 'A' group
(
Hot Pursuit
-
16-May-23
15:00
)
|
|
Adani Enterprises Ltd leads losers in 'A' group
(
Hot Pursuit
-
03-Oct-22
15:00
)
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|