Adani Total Gas Limited (ATGL) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 16, 2026 3 min read

Adani Total Gas Limited faces a pivotal first quarter of FY27 as it navigates the impact of volatile global natural gas prices and a weakening rupee on its CNG distribution network. Investors will be looking for signs of margin resilience and volume growth momentum under the company's new leadership team.

Quick Details

Results date	July 21, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 1,696 Cr
Previous quarter PAT	Rs. 156 Cr
Market cap	Rs. 77,982.02 Cr
CMP	Rs. 709.05

Adani Total Gas Limited Q1 Results Date and Time

The board is scheduled to meet on July 21, 2026, to consider the unaudited financial results for the quarter ended June 30, 2026.

What to expect from Adani Total Gas Limited's Q1 FY27 results

Adani Total Gas is aiming for an annual EBITDA target of Rs. 1,500 Cr for FY27, which requires a quarterly run-rate of approximately Rs. 375 Cr to stay on track. Input costs remain a significant headwind, with APM gas prices fluctuating between $10.76/MMBtu and $11.59/MMBtu during the quarter, while the rupee's depreciation to the Rs. 94–95/USD range has increased procurement costs for non-APM gas. Management continues to prioritise volume growth over short-term margins, leveraging structural benefits like the 2-zonal tariff implementation that covers roughly 70% of total volumes. The upcoming call will likely focus on the impact of the government's gas pool mechanism and the strategic priorities of new CEO Sanjay Pandita following his May 2026 appointment.

Key Things To Watch

Performance vs Guidance Tracking: Tracking progress against the company's FY27 financial targets.

Revenue growth — 18% YoY target — Q1 FY27 needs to be in the Rs. 1,700–1,800 Cr range
EBITDA — Rs. 1,500 Cr annual target — Q1 run-rate needs to be at least Rs. 375 Cr

Operating metric trajectory: Monitoring volume growth and infrastructure expansion.

CNG volume growth — double-digit growth targeted for FY27
New GA contribution — 30%+ CNG growth observed in prior periods
EV infrastructure — target of 10,000 charge points and 100 MW capacity

Margin sustainability: Assessing the impact of gas sourcing and pricing strategies.

APM allocation for CNG — 36% level in Q4 FY26 is the reference point for margin pressure
Gas pool mechanism — impact of the government's ~$12.42/MMBtu price formula on cost pass-through

Strategic execution: Updates on leadership and JV performance.

Management transition — first quarterly results under new CEO Sanjay Pandita
JV (IOAGPL) — update on PAT contribution following 19% YoY volume growth reported in Q2 FY26

Risks and headwinds to monitor: External factors impacting operational costs.

Currency volatility — INR depreciation impacting USD-denominated gas procurement
Competitive pressure — stability of MS/HSD prices affecting CNG price advantage

Frequently Asked Questions

What is the status of the company's leadership transition?

Mr. Suresh P. Manglani was re-designated as Executive Director only, effective May 21, 2026. Mr. Sanjay Pandita was appointed as the new CEO effective May 22, 2026.

How does the company plan to manage rising gas costs?

Management is using a diversified sourcing portfolio including APM, New Well Gas, HPHT, and spot procurement to mitigate APM allocation declines. They are also employing a calibrated pricing approach to pass on costs while protecting volume growth.

What is the impact of the PNGRB 2-zonal tariff on the company?

The tariff change implemented in October 2025 is a positive development, with approximately 70% of volumes now falling under the Zone 1 tariff of Rs. 54/MMBtu. This reduction in freight costs helps improve affordability for consumers.