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Results
01-May-24
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Analysis
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Adani Total Gas
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Volume growth was 15% in FY24
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Consolidated
net sales (including other operating income) of Adani Total Gas has increased
4.68% to Rs 1166.95 crore. Operating
profit margin has jumped from 17.51% to 24.68%, leading to 47.57% rise in
operating profit to Rs 288.02 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
72.58% to 60.49%. Employee cost
increased from 1.30% to 1.60%. Other
expenses rose from 8.67% to 13.22%.
Other
income rose 58.27% to Rs 15.02 crore.
PBIDT rose 48.07% to Rs 303.04 crore.
Provision for interest fell 9.44% to Rs 29.08 crore. Loan funds rose to Rs 1,557.25 crore as of 31
March 2024 from Rs 1,422.09 crore as of 31 March 2023. Inventories rose to Rs 99.17 crore as of 31
March 2024 from Rs 90.96 crore as of 31 March 2023. Sundry debtors were higher at Rs 409.92 crore
as of 31 March 2024 compared to Rs 315.62 crore as of 31 March 2023. Cash and bank balance rose to Rs 456.11 crore
as of 31 March 2024 from Rs 371.84 crore as of 31 March 2023. Investments rose to Rs 706.12 crore as of 31
March 2024 from Rs 682.26 crore as of 31 March 2023 .
PBDT
rose 58.77% to Rs 273.96 crore.
Provision for depreciation rose 58.49% to Rs 48.91 crore. Fixed assets increased to Rs 4,650.91 crore
as of 31 March 2024 from Rs 3,928.02 crore as of 31 March 2023. Intangible assets stood at Rs 25.49
crore.
Profit
before tax grew 58.83% to Rs 225.05 crore.
Provision for tax was expense of Rs 61.31 crore, compared to Rs 37.81
crore. Effective tax rate was 26.74%
compared to 27.86%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 71.55% to Rs
167.96 crore.
Equity
capital stood at Rs 109.98 crore as of 31 March 2024 to Rs 109.98 crore as of
31 March 2023. Per share face Value
remained same at Rs 1.00.
Promoters’
stake was 74.80% as of 31 March 2024 compared to 74.80% as of 31 March
2023.
“FY24
has been a transformative year for ATGL. We delivered a robust operational and
financial performance and achieved a 27% YoY EBITDA growth on the back of 15%
volume growth,” said Mr. Suresh P
Manglani, ED & CEO of Adani Total Gas.
“We
are fully committed to India’s energy transition journey and continue to invest
in creating world class infrastructure across our Geographical Areas (GAs) and
diversifying into areas adjacent to our core CGD business. We are incubating
new business opportunities in the areas of Compressed Biogas, EV Charging
Infrastructure, and LNG for trucking and Mining (LTM). During the quarter, we
commissioned the 1st phase of one of the India’s largest diversified
feedstock-to-CBG plant at Barsana in Mathura and also expanded our E-Mobility
footprint to 23 states. These, along with LTM are our next big growth drivers
and we are steadily executing a sustainable business plan around these
neo-opportunities,” he added.
Full year results
analysis
Net
sales (including other operating income) of Adani Total Gas has increased 2.21%
to Rs 4474.74 crore. Operating profit
margin has jumped from 19.87% to 24.67%, leading to 26.88% rise in operating
profit to Rs 1,103.72 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
70.47% to 63.65%. Employee cost
increased from 1.27% to 1.49%. Other
expenses rose from 8.37% to 10.20%.
Other
income rose 19.46% to Rs 44.02 crore.
PBIDT rose 26.58% to Rs 1147.74 crore.
Provision for interest rose 42.10% to Rs 111.45 crore. Loan funds rose to Rs 1,557.25 crore as of 31
March 2024 from Rs 1,422.09 crore as of 31 March 2023. Inventories rose to Rs 99.17 crore as of 31
March 2024 from Rs 90.96 crore as of 31 March 2023. Sundry debtors were higher at Rs 409.92 crore
as of 31 March 2024 compared to Rs 315.62 crore as of 31 March 2023. Cash and bank balance rose to Rs 456.11 crore
as of 31 March 2024 from Rs 371.84 crore as of 31 March 2023. Investments rose to Rs 706.12 crore as of 31
March 2024 from Rs 682.26 crore as of 31 March 2023 .
PBDT
rose 25.11% to Rs 1036.29 crore.
Provision for depreciation rose 39.59% to Rs 157.88 crore. Fixed assets increased to Rs 4,650.91 crore
as of 31 March 2024 from Rs 3,928.02 crore as of 31 March 2023. Intangible assets stood at Rs 25.49
crore.
Profit
before tax grew 22.82% to Rs 878.41 crore.
Share of profit/loss was 3.17% higher at Rs 17.9 crore. Provision for tax was expense of Rs 228.81
crore, compared to Rs 186.05 crore.
Effective tax rate was 25.53% compared to 25.40%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 22.14% to Rs
667.50 crore.
Equity
capital stood at Rs 109.98 crore as of 31 March 2024 to Rs 109.98 crore as of
31 March 2023. Per share face Value
remained same at Rs 1.00.
Promoters’
stake was 74.80% as of 31 March 2024 ,compared to 74.80% as of 31 March
2023.
Cash
flow from operating activities increased to Rs 955.13 crore for year ended
March 2024 from Rs 852.85 crore for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 799.32 crore, compared to Rs
1,175.37 crore during the year ended March 2023.
The
scrip trades at Rs 928
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Adani Total Gas : Consolidated
Results
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Particulars
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2403 (03)
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2303 (03)
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Var.(%)
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2403 (12)
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2303 (12)
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Var.(%)
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Net Sales
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1,166.95
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1,114.78
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5
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4,474.74
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4,378.19
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2
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OPM (%)
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24.7
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17.5
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24.7
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19.9
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OP
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288.02
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195.17
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48
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1,103.72
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869.87
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27
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Other Inc.
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15.02
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9.49
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58
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44.02
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36.85
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19
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PBIDT
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303.04
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204.66
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48
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1,147.74
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906.72
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27
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Interest
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29.08
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32.11
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-9
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111.45
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78.43
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42
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PBDT
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273.96
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172.55
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59
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1,036.29
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828.29
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25
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Depreciation
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48.91
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30.86
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58
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157.88
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113.1
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40
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PBT
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225.05
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141.69
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59
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878.41
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715.19
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23
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Share of Profit/(Loss) from Associates
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4.22
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-5.97
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LP
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17.9
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17.35
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3
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PBT before EO
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229.27
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135.72
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69
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896.31
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732.54
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22
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EO Income
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0
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0
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-
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0
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0
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-
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PBT after EO
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229.27
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135.72
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69
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896.31
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732.54
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22
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Taxation
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61.31
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37.81
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62
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228.81
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186.05
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23
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PAT
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167.96
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97.91
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72
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667.5
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546.49
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22
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Minority Interest (MI)
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0
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0
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-
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0
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0
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-
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Net profit
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167.96
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97.91
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72
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667.5
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546.49
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22
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EPS (Rs)*
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#
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#
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6.1
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5.0
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Notes
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* EPS is on current equity of Rs 109.98 crore, Face value of Rs
1, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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