Event Type: Earnings conference call discussing unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2026 (Q1 FY27).

Event Date and Time: Held on July 22, 2026 (specific time not mentioned in transcript).

Purpose: Discussion of quarterly results and business operational environment for Q1 FY27.

Management Participants:

  • Mr. Sanjay Pandita – Chief Executive Officer
  • Mr. Preyash Jhaveri – Interim Chief Financial Officer
  • Mr. Ravindra Desai – Head of Gas Sourcing and Business Development
  • Mr. Adish Vakharia – Investor Relations

Availability of Materials: The transcript was made available on July 28, 2026 via web link: https://www.adanigas.com/-/media/Project/AdaniGas/Investors/Financials/Earnings-Call-Transcript-and--Recordings/AdaniTotal-Earnings-Jul22-2026.pdf

Financial Period Discussed: Q1 FY27 (quarter ended June 30, 2026)

Key Financial Highlights:

  • Gas sales volume: 303 MMSCM (13% YoY growth)
  • Revenue: ₹1,908 crores (27% YoY growth)
  • EBITDA: ₹281 crores
  • Operating margins compressed to 15% from historical levels of 25%

Operational Highlights:

  • CNG segment grew 18% YoY, PNG segment grew 4% YoY
  • Steel pipeline network expanded to 15,987-inch kilometres
  • Added 38,000 new household connections (total: 11.41 lakh households)
  • Added 5 new CNG stations (total: 707 CNG stations)
  • Added 392 commercial customers (3x increase YoY) and 56 industrial customers (2x increase YoY)
  • Total industrial and commercial customer base: 10,422
  • EV charging network expanded to 5,306 charging points with 58 MW installation capacity
  • Sold 3.3 million electrons (100% YoY growth)

Joint Venture Update (IOAGPL):

  • Operating across 53 geographical areas covering 14% of India's population
  • Spanning 125 districts
  • Combined customer base: 13.74 lakh CNG households, 12,326 commercial/industrial customers
  • CNG network: 1,167 stations
  • Steel pipe network: 28,600-inch kilometres

Business Environment Context:

  • Geopolitical issues in West Asia influenced local energy markets
  • Elevated Brent-linked gas contract prices
  • US INR currency depreciation affected costs
  • Government interventions with additional gas allocation helped maintain supplies

Gas Sourcing Details:

  • Domestic APM and NWG allocation: ~40%
  • Long-term contracts: ~48%
  • Spot purchases: ~15% (due to curtailment)
  • Government withdrew pooled gas mechanism
  • NWG prices significantly above $5 per MMBTU due to Brent at >$107/barrel

Margin Pressure Factors:

  • Gas availability at market-driven prices
  • Reduced APM allocation
  • Elevated spot purchases due to Middle East crisis
  • Expect margin recovery once Middle East crisis resolves and supply from US/Qatar increases

Growth Initiatives:

  • Targeting 10,000 EV charging points
  • Exploring mid-term gas purchases to reduce spot exposure
  • Government support through deemed approval mechanisms for pipeline laying
  • Training initiatives for technical personnel across India
  • Maintaining connection addition rate while exploring new business models (reticulated systems, LPG conversions)

Sustainability:

  • CareEdge ESG rating: 84/100
  • CRISIL ESG rating: 66/100

Additional Notes Section

Attachments: The transcript was attached to the regulatory filing.

Financial Data Disclosure: The announcement included specific financial figures from the earnings call including volumes, revenue, EBITDA, and operational metrics.

Compliance: The document represents an official transcript of the earnings conference call without additional compliance statements regarding UPSI.