Revenue from Operations at INR 207 Cr
EBITDA at INR86 Cr
|Operational Highlights Q1 FY21 (Standalone):
Ø Uninterrupted gas supply (24X7) maintained even during complete lockdown for 2/3rd of the quarter period and partial resumption during the balance period of the quarterwith adoption to the rapidly changing environment
Ø Adani Gas continued its “Safety First” approach and implemented highest safety standards to ensure the safety of our employees,consumers, vendorsand our business partners
Ø Despite continued COVID-19 impact, combined volume of CNG and PNG achieved @ 64 MMSCM vs 137 MMCM in Q1 FY20
Ø Volume in June’20 was at 0.71 MMSCMDcompared to volume in April’20 at 0.35 MMSCMD showingsignificant volume recovery trend
Ø PNG Home Connection increased to 4.38 Lacs (979 New Connections in Q1 FY21)
Ø Commercial & Industrial connectionnow increased to 4,448
Financial Highlights Q1 FY21 (Standalone):
Ø Revenue from Operations stood at INR 207 Cr vs. Q1 FY20 INR 479 Cr
Ø EBITDA stood at INR86 Cr vs. Q1 FY20EBITDA of INR146 Cr
Ø PBT for Q1 FY21 was at INR 63 Cr vs. Q1 FY20PBT of INR 123 Cr
Ø PAT for Q1 FY21 was atINR 46 Cr vs. Q1 FY20PAT of INR 79 Cr
Ahmedabad, August5, 2020: Adani Gas Ltd. [“AGL”] today announced the financial results for the first quarter ended 30thJune 2020.
Standalone Financial Highlights:
|Particulars||UoM||Q1 FY21||Q1 FY20||% Change
|Revenue from Operations||INR Cr||207||479||-57%|
|Profit before Tax||INR Cr||63||123||-49%|
|Profit After Tax||INR Cr||46||79||-42%|
COVID-19 update on Business:
With continued lockdown of 69 days in Q1 FY21the Company witnessed volume impact of 53 % as compared to Q1 FY20. There was a progressive rebound in volumes as compared to pre-covid situation and exit volume as on 30th June 2020had already reached at 1.25mmscmd as compared to 1.60 mmscmdfor the month of Mar’20.The operational performance of the business continues to be recovering in phased manner towards Pre COVID level.
During the period of lockdown, the Company hadmaintained un-interrupted supply of Natural Gas – 24X7 for PNG and CNG consumers.
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Critical operations like Area Emergency Offices & Master Control Rooms, Remote functioning of Customer Care Services have remained operational adhering to complete safety and social distancing guidelines during the period ensuring safe and satisfactory support to the consumers.
The Company’s operational efficiency, enhanced focus on supply chain management, contract negotiations, third party spend, and fuel efficiencies have helped in partially addressing the impact of lower volumes and improvingEBITDA margin in Q1 FY20.
Commenting on the quarter result of the Company, Mr. Gautam Adani, Chairman, Adani Group said, “Adani Gas Limited has delivered a good performance even amidstthe global pandemic.Commitment to sustainability is the cornerstone of the growth which AGL is set to chart.Our strategy is designed to deliver growth with goodness while contributing to the larger objective of nation building. In line with the Government’s policy we are committed to contribute to the nation’s vision of providing a safer, cleaner and greener energy. As India’s economy slowly revitalizes, Adani Gas will put its best to overcome challenges posed by the global pandemic as a nation”
Mr. Suresh Manglani, CEO of Adani Gassaid, “We are watchful of the ongoing pandemic situation for Covid-19. As a responsible natural gas service provider, Adani Gas Limited has ensured continuous supply of CNG and PNG, uninterrupted and prompt customer care service during these tough times. Adani Gas Limited has delivered a sustainable performance in Q1 FY21 despite the impact on PNG Industrial& Commercial and CNG segments. The company is continuously and closely monitoring the developments and is actively working to moderate the impact of this unprecedented situation. We have resumed project and operational activities in phased manner which were ceased in March’20 on account of lockdown, to meet our commitments towards development of city gas distribution in the new geographical areas (GAs) and contribute towards the nation building & providing clean energy for all.
About Adani Gas
Adani Gas Limited is one of India’s leading private players in developing City Gas Distribution (CGD) Networks to supply Piped Natural Gas (PNG) to Industrial, Commercial, Domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable and environment friendly fuel that allows consumers to enjoy a high level of safety, convenience and economic efficiency. The Company has commenced CGD operations in the Authorized GAs of the State of Gujarat, Rajasthan, Haryana and Utter Pradesh, aiming to grow sustainable business in the years to come.
Adani Gas Limited has a spread of 19 geographical areas (4 existing and 15 new geographical areas). Adani Gas limited with a short span of time as has started commercial operations in 9 new geographical areas.
Adani Gas limited has an extended arm – Indian Oil-Adani Gas Private Limited (IOAGPL)– a 50:50 joint venture between Adani Gas Limited and Indian Oil Corporation Limited was entered in 2013-14 to capitalize on growing opportunities in natural gas demand, leveraging each other’s infrastructure and domain expertise. Indian Oil Corporation Limited’s operational track record, existing infrastructure terminal for LNG imports and expansive retail outlets is complimented by CGD experience of Adani Gas Limited. IOAGPL also has a spread of 19 geographical areas.
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