Adani AGM 2023: Adani Total Offered Piped Gas Access To 1.24 Lakh Households In FY23
The company plans to invest Rs 20,000 crore in 10 years to expand infrastructure.
Adani Total Gas Ltd. has expanded access to clean cooking fuel to 1.24 lakh households this year, according to Gautam Adani, chairman of Adani Enterprises Ltd.
The clean-fuel business revenue grew 46% year-on-year to Rs 4,683 crore in the financial year 2023, Adani said at the annual general meeting in Ahmedabad.
Adani Total Gas is transforming into a full-spectrum sustainable energy provider with rapidly expanding urban electric vehicle charging infrastructure and biofuel businesses, according to Adani.
In its latest annual report, the company said it would invest Rs 20,000 crore in establishing 1,800 fuel retail outlets over the next seven to 10 years. It will also set up biogas outlets and EV charging facilities.
Suresh Manglani, chief executive officer at Adani Total Gas, said the firm's strategy was to fast-track the laying of steel pipeline and build compressed natural gas stations faster across the licences where it operates for early monetisation.
The company is "committed to connecting every home across all our geographical areas desiring to have cleaner and greener piped natural gas in their kitchens", said Manglani.
Apart from scaling the core business of gas distribution, the firm has embarked on diversifying its bouquet of choices—CNG, compressed biogas, and EV charging.
"The time is coming when we will have widened our portfolio of services to a range of clean fuels that address different applications for different consumers, reinforcing our positioning as a one-stop comprehensive service provider," Mangalani said.
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