Adani Total Gas Q2 FY27 Results: Revenue Up 34% to INR 2,102 Cr, PAT Up 3%
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 22 Oct 2026, 03:47 PM IST · BSE ID: 698ce252-f415-417a-99e3-e967f9bf837e
View Original BSE Filing (PDF)
💡
In Simple Terms
Adani Total Gas saw its Q2 FY27 revenue increase significantly, driven by higher sales volumes, though profit growth was more modest.
🤖 AI Summary
- Adani Total Gas Q2 FY27 standalone revenue rose 34% YoY to INR 2,102 Cr.
- EBITDA increased 12% YoY to INR 340 Cr for the second quarter of FY27.
- Standalone Profit After Tax (PAT) for Q2 FY27 grew 3% YoY to INR 167 Cr.
- Total sales volume increased 12% YoY to 315 MMSCM in Q2 FY27, with CNG sales up 17%.
- Company expanded its network, adding 16 new CNG stations, reaching 723 by September 30, 2026.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q2 FY27 Standalone Revenue
INR Cr 2,102
34%
Q2 FY27 Standalone EBITDA
INR Cr 340
12%
Q2 FY27 Standalone Profit After Tax
INR Cr 167
3%
Q2 FY27 Sales Volume
MMSCM 315
12%
CNG Stations (as on 30th September 2026)
Nos. 723
Domestic-PNG Connections (as on 30th September 2026)
Nos. 11,80,682
🏢 How This Affects the Company
The company's sustained volume growth in both CNG (17% YoY) and PNG (3% YoY) segments confirms demand, supporting its infrastructure expansion to 723 CNG stations and 11.81 lakh PNG connections. This indicates continued market penetration and operational footprint growth across existing and new geographical areas.
Revenue increased by 34% in Q2 FY27 to INR 2,102 Cr, while EBITDA rose 12% to INR 340 Cr. However, Profit Before Tax (PBT) and Profit After Tax (PAT) grew by smaller percentages, 8% and 3% respectively, indicating some margin pressure despite top-line growth, primarily due to a 43% increase in natural gas cost.
Despite challenges like elevated gas prices and reduced APM allocation, ATGL managed supply reliability through a diversified sourcing portfolio. Network expansion continued with 16 new CNG stations and 39,574 new PNG home connections added in Q2 FY27, extending its operational reach and customer base.
The continued West Asia crisis, elevated Brent and spot gas prices, and currency depreciation led to a 43% increase in the cost of natural gas, highlighting ongoing input cost volatility. While strategic sourcing managed these pressures in Q2 FY27, this external environment poses a continuous risk to profitability.
👥 What This Means For Shareholders
✅
Action Required
No action required from shareholders based on this financial results filing.
👤
Who Is Affected
All shareholders are affected by the company's financial performance, specifically the 3% YoY increase in Q2 FY27 standalone PAT to INR 167 Cr and a 7% decline in H1 FY27 standalone PAT to INR 300 Cr.
🔍
Management Signal
Management emphasizes disciplined capital allocation, volume growth, and operational excellence across traditional and new energy segments, indicating a focus on sustained expansion despite market challenges.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q3 FY27 financial results — observe revenue and profit trends.
Update on gas sourcing strategy given volatile international prices.
Progress on e-mobility and biomass segments, specifically sales volumes.
MEDIUM RISK
Elevated gas prices and currency depreciation continue to impact the cost of natural gas, affecting profit margins.
💡 Investor Takeaway
Adani Total Gas reported standalone Q2 FY27 revenue of INR 2,102 Cr, up 34% YoY, with EBITDA at INR 340 Cr, up 12% YoY. Profit After Tax was INR 167 Cr, a 3% YoY increase. Sales volume grew 12% YoY to 315 MMSCM. The company added 16 new CNG stations and 39,574 PNG home connections.
⚖️ Strengths & Concerns
✅ Positives
- Revenue from operations increased 34% YoY to INR 2,102 Cr in Q2 FY27, driven by sustained volume growth.
- Combined CNG and PNG volume grew 12% YoY to 315 MMSCM in Q2 FY27, indicating strong operational demand.
⚠️ Concerns
- Profit After Tax increased only 3% YoY to INR 167 Cr in Q2 FY27, lower than revenue and EBITDA growth.
- Cost of natural gas increased by 43% in Q2 FY27, impacted by external factors despite strategic sourcing efforts.
📅 Company Track Record
Adani Total Gas Q1 FY27 revenue increased 27% to INR 1,908 crores, while Q1 FY27 PAT declined 18% to INR 133 Cr, with margins compressing from 25% to 15%. This Q2 FY27 filing shows improved PAT growth but still highlights margin pressures from input costs.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Adani Total Gas's standalone revenue in Q2 FY27?
Adani Total Gas reported a standalone revenue of INR 2,102 Cr in Q2 FY27, representing a 34% increase compared to Q2 FY26.
How much did Adani Total Gas's Profit After Tax increase in Q2 FY27?
The standalone Profit After Tax (PAT) for Adani Total Gas in Q2 FY27 was INR 167 Cr, which is a 3% increase from INR 162 Cr in Q2 FY26.
What was the total sales volume for Adani Total Gas in Q2 FY27?
Adani Total Gas recorded a combined CNG and PNG sales volume of 315 MMSCM in Q2 FY27, an increase of 12% YoY.
How many CNG stations did Adani Total Gas have as of September 30, 2026?
As of September 30, 2026, Adani Total Gas had a total of 723 CNG stations, having added 16 new stations in Q2 FY27.
What impacted the cost of natural gas for Adani Total Gas in Q2 FY27?
The cost of natural gas for Adani Total Gas increased by 43% in Q2 FY27 due to sustained volume growth, elevated Brent-linked prices, withdrawal of pooled-gas support, and the prolonged West Asia crisis.
Questions based on this BSE filing only. For information purposes.