Adani Total Gas acquires gas meter manufacturing company
Adani Total Gas Ltd – the city gas joint venture of Adani Group and TotalEnergies of France – has acquired 50 per cent stake in a company that manufactures gas meters to aid its gas retailing business. The firm bought 50 per cent in Smartmeters Technologies Pvt Ltd(SMTPL) for Rs 1 crore, according to a company’s filing to stock exchanges.
Smartmeters, which had a turnover of Rs 4.83 crore in the year up to March 31, 2021, manufactures gas meters which are used to measure consumption of gas piped into household kitchens.
