MAM
Adani Total Gas’ financial resilience shines amid market pressures
Mumbai: In a dynamic energy sector, where demand and regulatory complexities shape the market landscape, Adani Total Gas Limited (ATGL) has once again demonstrated robust financial performance. The unaudited financial results for the quarter and half year ending 30 September 2024, present a strong case for the company’s operational resilience and adaptability. While the industry grapples with fluctuating input costs, ATGL continues to report steady growth, backed by its strategic expansions and prudent financial management.
ATGL’s consolidated revenue from operations for Q2 FY2025 reached Rs 1,318.37 crore, marking a notable increase from Rs 1,178.77 crore in the same quarter last year. This represents a solid 11.8 per cent year-on-year (YoY) growth, driven by rising urban demand for natural gas and the company’s ongoing geographical expansion. The first half (H1) of FY2025 closed at Rs 2,557.43 crore, reflecting a healthy 10.5 per cent rise compared to Rs 2,314.12 crore in H1 FY2024.
Complementing its operational revenues, the company accrued Rs 6.63 crore in other income during Q2, slightly lower than the Rs 9.21 crore recorded in Q2 FY2024, but sufficient to sustain its overall income growth. The company’s total income for H1 FY2025 stood at Rs 2,573.08 crore, showcasing consistent performance despite market volatility.
The cost of natural gas and traded items saw a significant uptick, reaching Rs 772.97 crore in Q2 FY2025, reflecting heightened input costs. This 11.7 per cent rise from last year’s Rs 691.61 crore is attributable to rising global commodity prices and supply chain pressures. Despite this, the company’s effective inventory management helped minimise losses, with inventories shrinking by Rs 1.24 crore in Q2.
Additionally, excise duty expenses grew by 19.9 per cent YoY to Rs 99.72 crore, a reflection of increased regulatory costs tied to higher production. Employee benefit expenses, however, were managed with precision, as the company reduced personnel-related costs to Rs 13.98 crore from Rs 16.62 crore in Q2 FY2024.
One standout metric was the reduction in finance costs, from Rs 27.28 crore in Q2 FY2024 to Rs 23.01 crore in the current quarter, highlighting improved debt servicing and lower interest outflows.
ATGL also recorded a profit before tax (PBT) of Rs 247.37 crore in Q2 FY2025, a modest 7.6 per cent increase compared to Rs 229.90 crore in the previous year’s corresponding quarter. The first half of the year concluded with PBT of Rs 479.10 crore, representing a 11.1 per cent growth YoY.
Net profit for Q2 stood at Rs 185.60 crore, up from Rs 172.68 crore in Q2 FY2024. This was primarily due to effective cost controls and improved revenue streams. In the first half, profits reached Rs 357.44 crore, a commendable 10.7 per cent rise from the Rs 322.90 crore achieved in H1 FY2024. Earnings per share (EPS) saw a corresponding increase to Rs 1.69 in Q2, slightly above last year’s Rs 1.57.
The company’s total comprehensive income for H1 FY2025 stood at Rs 359.03 crore, reflecting the net impact of operational profits and minor comprehensive income changes from defined benefit plan adjustments.
On the balance sheet front, ATGL reported total assets of Rs 6,842.45 crore as of 30 September 2024, a 3.8 per cent increase from Rs 6,591.86 crore as of 31 March 2024. The company’s equity also strengthened, rising to Rs 3,910.73 crore, up from Rs 3,580.32 crore. This increase was supported by retained earnings and capital appreciation, which are likely to enhance long-term shareholder value.
ATGL’s expansion into new geographical areas continues to be a key growth driver. The company’s acquisition of key assets in Ludhiana and Jalandhar, alongside its strategic ventures with Indian Oil-Adani Gas Private Limited, positions it well for future market leadership. Additionally, its diversification into biomass and e-mobility solutions underpins a forward-looking approach to energy transitions in India.
“ATGL has reported healthy operational and financial performance during the quarter. Our business is closely aligned with India’s energy transition goals which we are delivering by providing cleaner and greener energy solutions to all our consumers. We now reach over nine lakh consumers through our piped gas network supplying uninterrupted piped natural gas. We have commissioned our first LNG station for the transportation segment and are progressing towards covering key highway networks aiding India’s decarbonisation march. Following the recent reduction in APM gas allocation, which caters to auto CNG and home PNG consumers, we are closely monitoring the situation and given our diversified gas sourcing portfolio, we will ensure a calibrated pricing approach to balance the interest of our consumers” said ATGL, CEO & ED, Suresh P Manglani.
As the energy landscape evolves, ATGL’s commitment to maintaining operational efficiency, despite external challenges, will be pivotal. Investors and stakeholders can expect the company to maintain steady growth trajectories, driven by a balanced focus on expanding its market reach and optimising its financial strategies.
MAM
Madison World to launch AI platform M BrAIn for media planning
Agency group invests about $1 million as it shifts to AI driven growth planning.
MUMBAI: If media planning once ran on spreadsheets and gut instinct, the next chapter may run on algorithms and curiosity. Madison World is preparing to roll out the first version of its proprietary artificial intelligence platform Madison M BrAIn in early April, as the independent agency group accelerates its transition toward AI driven planning and product led media services.
The platform, expected to involve an investment of around $1 million, is designed to reshape how the agency approaches strategy by combining internal knowledge, external data sources and advanced AI models into a single intelligence ecosystem.
According to Madison Media, OOH and Hiveminds partner and group CEO Ajit Varghese the initiative forms part of a larger structural rethink within the organisation. “Traditionally agencies built frameworks around media planning and allocation. We are redesigning that structure into what we call a Growth Planning System (GPS),” Varghese said.
The shift reflects a growing belief that effective media strategy must begin earlier in the decision making process. Instead of jumping directly to channel allocation, planners must first decode the market itself identifying consumer barriers, purchase triggers and the core challenges facing a brand.
Once those insights are mapped, agencies can build clearer growth agendas for clients and design media strategies that connect more closely with business outcomes.
To support that approach, Madison has built Madison M BrAIn as what it describes as a human AI cognitive ecosystem. Acting as a central intelligence hub, the platform aggregates proprietary insights alongside external data sources and large language models, enabling planners to access deeper market intelligence before building campaign strategies.
Varghese said one of the core objectives is to democratise knowledge across the organisation. “In the past, this level of understanding was largely available to senior leaders or experienced strategists. With Madison M BrAIn, even a junior planner should be able to access the same intelligence and approach clients with a far more informed perspective,” he said.
The agency has already implemented the new planning philosophy internally and completed three months of testing for the AI platform, with early trials showing encouraging results in terms of learning capability and system performance.
While the first version relied on global large language models, Madison is now developing its own proprietary Small Language Model (SLM) to serve as the core of the M BrAIn ecosystem.
“The SLM will be able to read global LLMs, but the LLMs cannot read the SLM,” Varghese explained. “That ensures all the intelligence we build remains within the Madison ecosystem and strengthens our proprietary knowledge base.”
The first version of Madison M BrAIn is expected to go live in early April, with a more refined version targeted by the end of June. Over time, the platform will integrate additional external data streams and APIs including consumer insight platforms, social listening tools and client datasets.
These integrations are expected to enhance the system’s learning capability and enable it to generate increasingly sophisticated strategic recommendations.
Although the platform is currently being deployed for internal use, Madison sees potential for it to evolve into a licensable product in the future.
“At the moment, our focus is to stabilise and strengthen M BrAIn internally. But over time there is potential for this to become a product that could be licensed externally,” Varghese said.
The AI platform is also part of a wider technology transformation underway at the agency group. Alongside M BrAIn, Madison is building a broader digital infrastructure called the Catalyst operating system, which aims to integrate operational processes, data and product platforms into a unified ecosystem.
This broader technology stack could require an additional $1 million to $1.5 million investment over time, though spending will be phased and reviewed regularly.
“We are evaluating progress every three months and prioritising the most critical capabilities first,” Varghese said.
Madison expects the full AI and operating ecosystem to be fully functional within 12 to 18 months, positioning the agency to combine human strategy with machine intelligence as the advertising industry enters its next data driven phase.
