Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Adani Gas Ltd. slated to be the largest CGD Company in India

Posted On: 2018-11-07 12:59:28

Adani Gas Ltd, the gas distribution arm of the Adani Group, today announced its listing on the stock exchanges in a bid to become the largest city gas distribution (CGD) company in India and unlock its value for existing shareholders. As part of the listing process, Adani Gas has allotted equity shares to existing shareholders of Adani Enterprises at 1:1 ratio. Following the listing, the Adani Group owners will hold 74.92 percent stake in Adani Gas whereas retail and institutional investors will hold 3.36 percent and 21.72 percent respectively.

To leverage India's rapidly growing gas market, Adani Gas has planned to invest over Rs 8,000 crores in the next 5 years to consolidate its position as the largest private company in the sector. It is noteworthy that India's current CGD consumption is about 15-18% of domestic gas production and even at peak demand, consumption will be around 25-30%.

In FY 2017-18, Adani Gas reported turnover of Rs. 1,395 crore and EBITDA of Rs. 374 crore. AGL's volumes increased by 17% to 479 mmscm (million metric standard cubic metres) y-o-y. The company achieved a y-o-y volume growth of 12% in CNG segment and 23% in PNG segment.

Gautam Adani, Chairman, Adani Group stated, "Natural gas is one of the fastest growing sectors globally along with renewable energy. The Government of India has set a target to increase the share of natural gas in India's primary energy mix to 15% by 2022. Its wider adoption can help India fulfil the Honorable Prime Minister's vision to raise the quality of life of our people by improving the nation's exposure to clean and green energy for household and industrial purposes. With the listing of AGL we aim to be the largest CGD Company in the country in next five years and have a more focused approach for creating substantial value for our shareholders and fulfill our national energy imperatives. Listing AGL is another strategic move towards India's vision of achieving a gas-based economy".

The group currently runs city gas distribution (CGD) networks at Ahmedabad, Vadodara, Faridabad and Khurja. It has won rights to set up CGD networks at 13 cities in India. In addition Adani Gas Joint Venture with Indian Oil will have 18 more geographical areas to expand CGD business. AGL's network size currently stands at 6,000+ km pipeline and 70 CNG stations catering to more than 3.15 lakh households, 1,250 industrial units and 2,400 commercial units.

With the Government planning to offer additional geographical areas for gas distribution next year coupled with rapid urbanisation, AGL expects to impact approx. 10% of the population by 2023.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Dewan Housing Finance Corporation Ltd Q2 PAT jumps to Rs. 438.74 crores

Gaurav Mercantiles Limited announces resignation of Director

Maruti Suzuki launches #NextGenErtiga

Adani Gas expands pan-India CGD presence, bags 13 CGD projects

ICRA assigns rating to Sanghi Industries Ltd's enhance limit

UPL Ltd arm to acquire Bioquim Group in Costa Rica

Lupin launches generic Tetrabenazine Tablets

GHCL updates on restoration of operations of unit in Tamil Nadu

Infosys announces creation of 1,200 jobs in Australia

Rajesh Exports Limited bags new export order of 933 crores

HDFC Bank to acquire 4% stake in CCIL

Bodhtree Consulting enters partnership with AutomationEdge to deliver intelligent automatic solutions

Indiabulls Housing Finance Limited raises Rs 23,615 crores in the last 2 months

Excel Industries Ltd updates on CRISIL rating

India Home Loan Ltd announces resignation of CS

Bank of Baroda to sell 4% stake in The Clearing Corporation of India Limited for Rs. 124 crores

Minda Corporation Ltd enters into agreement with JV partner Furukawa Group

Zensar Technologies Showcases End to End Cloud Solutions Portfolio and Agile IT Automation at AWS re:Invent 2018

CRISIL reaffirms long term rating of Action Construction Equipment Ltd

ICRA assigns rating to Som Distilleries & Breweries Ltd

Reliance Mutual Fund announces FFO3 for CPSE ETF

Binani Cement Ltd becomes wholly ownedy subsidiary of UltraTech Cement Limited

Confidence Petroleum's Q2 FY 2019 PAT grows 171% y-o-y to INR 16.20 crore

Binani Industries Ltd calls for board meeting on Nov 23, 2018

Intellect Distribution and Service Suite 3.0 wins esteemed Life Insurance International Award

TCS a Leader in IDC MarketScape for Global DevOps Services

Global Top 10 Casino and Resort Chain TRUSTS Ramco

Maruti Suzuki ramps up Vitara Brezza production to reduce waiting period

Gayatri Projects Ltd declared L-1 for Rs. 162.05 crores project

Bhagyanagar Properties Ltd to sell 1 acre at Vattinagulapally, Hyderabad

Zydus receives tentative approval from the USFDA for Deferasirox Tablets

The Financial Services Revolution - powered by Nucleus FinnOne Neo Cloud

Workers resume work Indo Count Industries Ltd's spinning unit

Alembic Pharmaceuticals receives USFDA Approval for Vardenafil Hydrochloride Orally Disintegrating Tablets, 10 mg

AERA allows DIAL to charge Base Airport Charges plus 10% from Dec 1, 2018

Glenmark Pharmaceuticals receives ANDA approval for Azelaic Acid Gel, 15%

SINTERCOM India Limited announces H1FY19 results

Max Life Records Strong Profitable Growth - Value of New Business (VNB) up 42% to Rs. 290 Crore

ITC's Sunfeast YiPPee launches an all new 'My' range, exclusively on bigbasket

Aditya Birla Fashion and Retail's fast fashion brand 'PEOPLE' launches its unique campaign '#LetsBePeopleFirst'

HIL Ltd. honours women employees with special policies

YES BANK announces the resignation of Shri Rentala Chandrashekhar from its Board of Directors

HEG LTD. board to consider buy back

SRF Ltd updates on impact due to cyclone Gaja

CARE updates on ratings of Electrosteel Castings Ltd

CRISIL assigns rating for Escorts Ltd's commercial paper programme

BLS International Services Ltd introduces 'Premium Lounge' service in London

Kridhan Infra Limited's Singapore Subsidiary Swee Hong wins Orders worth INR 195 Crores

PSP Projects Ltd bags orders worth Rs. 372.47 crores

B.L. Kashyap & Sons standalone net profit rises in the Q2







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018