Adani Total Gas Ltd (ATGL), a joint venture between the Adani Group and French energy giant Total Energies, released its Q4 FY25 financial results on April 28, 2025. Despite facing higher input costs, the company showed signs of operational resilience and continued expansion across India’s rapidly growing clean energy sector.
Q4 FY25 Financial Performance: A Mixed Bag
Adani Total Gas posted a net profit of Rs 155 crore for the quarter ending March 31, 2025. This reflects a decline of 8% year-on-year, mainly due to higher gas procurement costs. The reduction in government allocation of cheaper domestic natural gas forced the company to purchase more expensive imported LNG, thus putting pressure on margins.
However, it wasn't all gloomy. Revenue from operations rose to Rs 1,453 crore, up from Rs 1,258 crore in Q4 FY24 — a 16% jump, according to the company’s statement released on April 28.
CNG and PNG Volumes Fuel Growth
One of the key highlights of the quarter was the company’s continued growth in Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) segments:
CNG Volume: Rose by 18% YoY, supported by the addition of 42 new CNG stations, bringing the total number to 647 stations nationwide.
PNG Volume: Registered a 5% increase in the quarter, further solidifying ATGL’s reach in domestic and industrial gas supply.
The rise in volumes suggests growing demand for natural gas as a cleaner alternative to petrol and diesel. Adani Total Gas has also been capitalizing on government-led initiatives promoting clean energy usage in transportation and households.
Infrastructure Expansion Continues
ATGL continued its aggressive expansion across India by investing in new infrastructure and extending its city gas distribution (CGD) footprint. As of Q4 FY25, the company had operations in 52 Geographical Areas (GAs) across 124 districts.
With a long-term vision to serve industrial, residential, and commercial consumers, ATGL is strategically laying pipelines and setting up new stations, even as regulatory changes and pricing challenges evolve.
Green Energy Push and Future Outlook
The company is also actively investing in green hydrogen and bio-gas projects as part of its future roadmap. Adani Total Gas plans to diversify its offerings beyond traditional gas distribution to support India’s clean energy transition.
Although profit margins were squeezed in this quarter, the demand outlook remains strong. The government’s push toward natural gas adoption as a cleaner fuel is likely to benefit players like ATGL in the long run.
In Summary
Despite facing short-term profitability pressures due to rising procurement costs, Adani Total Gas demonstrated resilience in Q4 FY25. With consistent growth in volumes, network expansion, and a strategic focus on clean energy, the company continues to play a pivotal role in India's energy transition journey.
As we move into FY26, all eyes will be on how ATGL manages cost pressures while continuing to scale operations and embrace new-age energy solutions.
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