Adani Total Gas earnings calls.

Adani Total Gas delivered 27% revenue growthCurrent 27% vs previous available quarter 17%. to INR 1,910 crore in Q1 FY27, driven by 13% volume growthCurrent reported value: 13% volume growth. No comparable prior figure is available in the source record. (303 MMSCM) with CNG up 18% YoY. However, EBITDA margin compressed to approximately 14.7% due to elevated spot LNG procurement (~15Current 15 crore vs previous available quarter 20 crore.% of volumes) following the withdrawal of the pool gas mechanism and geopolitical-driven price spikes in West Asia. The APM allocation covers only ~40% of requirements versus higher historical levels. Management cited US/Qatar supply additions post-Middle East crisis resolution as the key margin recovery catalyst, while pursuing mid-term LNG contracts to reduce spot exposure. Customer additions remained strong at 38,000 domestic connections and 448 commercial/industrial customers (2-3x YoY). The EV charging network expanded to 536 points with 100% YoY growth toward a 10,000-point target. Joint venture IOAGPL operates across 53 GAs covering 14% of India's population. The primary risk is sustained margin pressure if geopolitical conditions persist, alongside INR depreciation amplifying input cost inflation.