”Adani Group companies Adani Total Gas Limited (ATGL) and Adani Energy Solutions Limited (AESL) delivered a strong operational and financial performance in the third quarter of FY 2025–26, marking significant milestones in network expansion, customer additions, and profitability. Both companies reported double-digit growth in profit and revenue for the October–December quarter, highlighting the group’s steady execution despite challenging market conditions.”
Adani Total Gas Expands PNG and CNG Network Rapidly
Adani Total Gas achieved a major milestone by providing over 34,000 new PNG (Piped Natural Gas) connections to households within just three months. This expansion reflects the company’s focus on clean energy adoption and urban gas infrastructure development.
During Q3 FY26, ATGL added 18 new CNG stations, taking its total network to 680 stations across India. PNG domestic connections increased to 10.5 lakh, with thousands of new homes gaining access to clean and reliable fuel. Industrial and commercial customers also grew steadily, with 148 new connections, bringing the total to 9,751 customers during the quarter.
ATGL’s combined CNG and PNG volume reached 289 million standard cubic meters (MNSCM), registering a 12% year-on-year growth, indicating strong demand across residential, transport, and industrial segments.
Strong Financial Growth for Adani Total Gas
Financially, ATGL reported an 11% year-on-year rise in profit to ₹159 crore in Q3 FY26, compared to ₹142.38 crore in the same quarter last year. Revenue increased by 17% YoY to ₹1,631 crore, driven by higher volumes and network expansion.
EBITDA for the quarter stood at ₹314 crore, while EBITDA for the first nine months of FY26 reached ₹919 crore, underlining consistent operational efficiency.
ATGL CEO and Executive Director Suresh P. Manglani stated that the company delivered another strong quarter with double-digit growth in volume, revenue, and EBITDA. He emphasized that despite reduced availability of APM gas and high prices of Henry Hub-linked RLNG, ATGL’s diversified gas sourcing strategy ensured uninterrupted PNG and CNG supply to customers.
Joint Ventures and Pipeline Expansion
ATGL, along with its joint venture Indian Oil Adani Gas Private Limited (IOAGPL), witnessed even stronger growth. Combined volumes rose to 460 million cubic meters, marking a 15% year-on-year increase. The total CNG network expanded to 1,120 stations, while PNG domestic connections crossed 12.5 lakh, serving over 4 million people daily.
Industrial and commercial connections increased to 11,106, including 222 new customers. Additionally, the company completed the construction of a massive 27,011 inch-kilometer steel pipeline network across India, strengthening long-term gas distribution infrastructure.
Adani Energy Solutions Delivers Robust Results
Adani Energy Solutions Limited also posted an impressive performance in Q3 FY26. The company’s adjusted profit after tax (PAT) increased by 30% year-on-year to ₹574 crore. Revenue grew 15.7% YoY to an all-time high of ₹6,945 crore, driven by strong execution across transmission, distribution, and smart metering businesses.
EBITDA for the quarter rose 20.7% YoY to ₹2,210 crore, reflecting improved asset utilization and operational efficiencies.
For the first nine months of FY26, AESL reported total revenue of ₹20,737 crore, up 16.2% YoY, while EBITDA increased 15.9% to ₹6,354 crore. Adjusted PAT for the period surged 34.4% YoY to ₹1,670 crore.
Transmission Projects and Capital Expenditure
During April–December FY26, AESL commissioned four major transmission projects, including North Karanpura Transmission, Khawda Phase II Part-A, Khawda Pooling Station-1, and Sangod Transmission. The company also installed 61.2 lakh smart meters during this period.
Capital expenditure for the first nine months of FY26 rose to ₹9,294 crore, compared to ₹7,475 crore in the corresponding period last year, indicating aggressive infrastructure expansion.
AESL CEO Kandarp Patel stated that despite sector challenges, the company’s strong on-ground execution, focused operations, and disciplined capital management helped drive consistent progress.
Conclusion
The strong Q3 FY26 performance of Adani Total Gas and Adani Energy Solutions highlights the Adani Group’s growing footprint in India’s energy infrastructure. With rapid PNG and CNG expansion, robust transmission projects, and consistent financial growth, both companies remain well-positioned to benefit from India’s long-term clean energy and power infrastructure demand.
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