Business Segment Review – Subsidiaries

Our Subsidiaries

Adani TotalEnergies Biomass Limited (ATBL)

Overview

ATBL, a wholly-owned subsidiary, develops and operates Compressed Bio-Gas (CBG) and organic fertiliser solutions by converting agricultural, livestock and municipal waste into usable energy and by-products. Our facilities are designed using advanced processing technologies, including Zero Liquid Discharge and nominal discharge systems, to minimise environmental impact.

Building on our expertise in the natural gas value chain, we are enabling the transformation of waste into valuable resources through biogas-based solutions. CBG supports decarbonisation, reduces reliance on fossil fuels and strengthens the circular economy, while also contributing to national clean energy and waste-management priorities under the Government of India’s SATAT programme.

Highlights & Progress

  • ATBL has achieved peak production of 7.5 TPD during FY 2025-26 and expected to ramp up to 11 TPD in FY 2026-27
  • Over 1,654 tonnes of CBG sold in FY 2025-26
  • First DODO CBG dispensing station began its commercial operations
  • “Harit Amrit Brand” launched in MP, UP and Gujarat – Key milestone in Regional Expansion

Key Statistics

1%Share of total CNG (T) and PNG (D) consumption in FY 2025-26
2%Share of total CNG (T) and PNG (D) consumption in FY 2026-27
1,654 MTCBG sold in FY 2025-26
4.6 TPDOrganic fertiliser produced in FY 2025-26
114.3 TPDFeedstock processed in FY 2025-26

Outlook

Benefiting from India’s accelerating renewable gas opportunity and the Government’s target of 5% CBG blending, we are well positioned to scale its operations. Backed by our integrated gas capabilities, the Company remains focused on building a resilient biogas platform that supports decarbonisation, circular economy objectives, and long-term energy transition goals.

Biogas Plant, Barsana, Uttar Pradesh
Biogas Plant, Barsana, Uttar Pradesh

Adani TotalEnergies E-Mobility Limited (ATEL)

Overview

ATEL is developing a nationwide, technology-enabled EV charging platform to support India’s transition towards electric mobility. We provide end-to-end charging solutions across urban, highway and high-traffic locations, focused on reliability, accessibility and user experience.

India’s target of 30% EV penetration by 2030, supported by policy initiatives such as the FAME scheme and various fiscal incentives, is creating a strong structural growth environment. Our charging network is positioned to support this accelerating adoption and the development of a sustainable mobility ecosystem.

Highlights & Progress

  • Added 26 MW of charging capacity during FY 2025-26, reaching total 54 MW installed capacity by March 31, 2026
  • Focus on strategising BOHO (Build, Operate, and Handover) model, with single point of contact for all works

Key Statistics

5,100Charging points across 225+ cities
4,265Energised charge points
~54 MWInstalled capacity
No.1 Airport CPOIn the country
22 AirportsIn the country with 100+ CPs

Outlook

ATEL to focus on the increased charge point utilisation with expansion of new charge points in calibrated manner.

The EV charging business will focus on calibrated expansion of charging points, with a near-term plan to scale the network to around 10,000 charge points across key urban and mobility corridors. Priority will remain on improving utilisation of existing assets through optimal site selection, demand-led rollout, and integration with high-traffic locations. The Company will continue to adopt a disciplined, asset-light approach while building a reliable and scalable charging network to support India’s growing electric mobility ecosystem.

EV Charging Station, Shantigram, Ahmedabad
EV Charging Station, Shantigram, Ahmedabad

Indian Oil-Adani Gas Private Limited (IOAGPL)

Overview

IOAGPL remains focused on strengthening its leadership in city gas distribution through accelerated network expansion, enhanced customer addition, and operational efficiencies. The Company continues to expand its steel and MDPE pipeline network to improve reach and reliability across its geographical areas.

Going forward, priorities include increasing PNG household penetration, expanding the industrial and commercial customer base, strengthening CNG infrastructure, and driving volume growth across segments. Alongside, the Company remains committed to sustainability through cleaner energy adoption, while maintaining financial discipline with prudent capital allocation and improved capital productivity to support long-term value creation.

Highlights & Progress

During FY 2025-26, Credit profile strengthened with AA- ratings from CARE and CRISIL, along with successful completion of a CCD transaction of ₹ 1,400 crore, enhancing long-term capital support. In addition, the Company tied up new debt facilities of approximately ₹ 3,100 crore to fund its planned capital expenditure programme. These fund-raising initiatives position IOAGPL well to accelerate infrastructure development and expand operations across new Geographical Areas. The strengthened balance sheet supports network build-out, increases execution capacity, and reinforces the Company’s commitment to scaling its CGD footprint in a disciplined and sustainable manner.

Key Statistics

19No. of Geographical Areas across 10 states and 3 UTs
26.11%Volume growth Y-o-Y, reaching 681 MMSCM
2.16 lakhsPNG Homes connections
544Industrial customers
1,020Commercial customers
464CNG Stations
IOAGPL CNG Station
IOAGPL CNG Station

Smart Meter Technological Private Limited (SMTPL)

Overview

SMTPL manufactures mechanical and smart gas meters equipped with Automatic Meter Reading (AMR) technology, supporting the growing requirements of India’s CGD sector.

Our strategic investment as a joint venture partner ensures dependable meter availability and quality control for large-scale network expansion. The manufacturing facility at Gangad near Ahmedabad has an annual production capacity of approximately 7.2 lakh meters, strengthening domestic capability and supporting sector-wide digitalisation.

Key Statistics

7.2 lakh unitsInstalled capacity
1.83 lakh metersSold in FY 2025-26
Gas Meter Manufacturing Plant - SMTPL, Gangad, Gujarat
Gas Meter Manufacturing Plant - SMTPL, Gangad, Gujarat