Key Financial Performance Metrics

Q2 FY27 Performance (Standalone):

  • Volumes: 315 MMSCM, up 12% year-on-year
  • Revenue: ₹2,102 crores, up 34% year-on-year
  • EBITDA: ₹340 crores, up 12% year-on-year
  • PAT: ₹167 crores, up 3% year-on-year
  • EBITDA Margin: 16.2%

H1 FY27 Performance (Standalone):

  • Volumes: 618 MMSCM, up 13% year-on-year
  • Revenue: ₹3,999 crores, up 31% year-on-year
  • EBITDA: ₹621 crores, up 3% year-on-year

Operational Highlights

Volume Breakdown Q2 FY27:

  • CNG Volume: 223 MMSCM, up 17% year-on-year
  • PNG Volume: 92 MMSCM, up 3% year-on-year
  • Volume mix from new geographical areas improved to 41% from 35% in Q2 FY26

Infrastructure Expansion Q2 FY27:

  • Added 16 new CNG stations, taking total network to 723 CNG stations
  • Connected 39,574 new household connections, taking PNG household connections to 11.81 lakhs
  • Expanded steel pipeline network to 16,305 inch-kilometers
  • Added approximately 900 industrial and commercial customers in H1 FY27, taking total base to 10,864

H1 FY27 Infrastructure Additions:

  • Expanded steel network by 732 inch-kilometers
  • Added 21 CNG stations
  • Connected 77,870 new households

Gas Sourcing and Cost Environment

  • Natural gas costs increased 43% year-on-year in Q2 FY27
  • Cost pressures driven by higher Brent crude prices, LNG prices, currency depreciation, and changes in domestic gas availability
  • Sourcing mix: Approximately 25% APM gas, with reduction from previous levels
  • Other sources include new well gas, HPHT gases, and term contracts
  • ~15% of portfolio was on spot prior to signing term agreements, currently reduced to 7-8%
  • 40% of portfolio linked to various markers including Henry Hub and Brent-linked contracts

Clean Energy Business Update

EV Charging Business:

  • Installed 5,513 EV charging points across 26 states and union territories
  • Coverage across 225 cities with installed capacity of 63 megawatts
  • Focus on B2B charging infrastructure with tie-ups including Adani Cement, Adani Ports, Adani Logistics
  • Operational charging points: 4,809

CBG (Compressed Biogas) Business:

  • Currently producing 5-6 tons from Barsana plant (UP)
  • Planning to double production in next 5-6 months
  • Technology partner: Thermax
  • Feedstock: Cow dung and paddy straw mix
  • Evaluating additional feedstocks including municipal waste, agricultural waste, chicken litter

Growth Targets and Capital Allocation

CNG Station Expansion:

  • FY26: Added 68 CNG stations
  • FY27 Target: 80-90 new CNG stations
  • Currently 70 CNG stations under construction in advanced stage
  • FY28: Targeting similar or more aggressive expansion

PNG Household Connections:

  • Targeting over 2 lakh new connections for FY27
  • Average volume addition per connection: 0.4 SCMD

Capital Expenditure:

  • Focused on strengthening core CGD network while scaling clean energy businesses
  • Disciplined capital allocation approach

Joint Venture Performance (IOAGPL)

  • Pan-India network reaches 1,185 CNG stations
  • 14.31 lakh PNG household connections
  • 12,925 industrial and commercial connections
  • Pipeline network: 29,156 inch-kilometer

Sustainability Performance

  • NSE Sustainability and SES score reached 75 out of 100

Management Commentary

The company highlighted resilience despite challenging global energy environment, leveraging diversified sourcing and flexible procurement. Management emphasized pivot from traditional city gas distribution to integrated energy platform while maintaining financial discipline and aggressive infrastructure expansion.