Petronet LNG Ltd

₹ 305 -1.18%

29 Apr - close price

petronetlng.in BSE: 532522 NSE : PETRONET

About

Petronet LNG Ltd was formed to develop, design, construct, own and operate Liquefied Natural Gas (LNG) Import and regasification terminals in India.^[1]

It was incorporated in 1998 as a Joint Venture among GAIL, Indian Oil, Bharat Petroleum & ONGC holding 12.5% each.^[2]

Key Points

Major player in LNG supply
The company is in the business of transportation, storage and regasification of LNG. It owns and operates 2 regasification terminals at Dahej (Gujarat) and Kochi (Kerala) with a combined capacity of 22.5 MMTPA. It accounts for 33% of gas supplies in the country and handles ~75% of LNG imports in India. ^[1]

Website BSE NSE

Market Cap ₹ 45,750 Cr.
Current Price ₹ 305
High / Low ₹ 319 / 192
Stock P/E 13.4
Book Value ₹ 107
Dividend Yield 2.30 %
ROCE 26.6 %
ROE 22.8 %
Face Value ₹ 10.0

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Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 25.1%
Company has been maintaining a healthy dividend payout of 52.1%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Gas Distribution Industry: Miscellaneous

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	7,328	7,575	8,598	10,813	12,597	11,160	14,264	15,986	15,776	13,874	11,656	12,532	14,747
	5,993	6,484	7,544	9,516	10,865	9,991	13,199	14,813	14,101	12,931	10,474	11,317	13,041
Operating Profit	1,335	1,091	1,054	1,297	1,732	1,169	1,064	1,173	1,675	943	1,182	1,215	1,706
OPM %	18%	14%	12%	12%	14%	10%	7%	7%	11%	7%	10%	10%	12%
	111	49	69	82	72	85	142	94	184	154	147	157	156
Interest	82	81	80	79	78	80	78	81	81	90	75	75	70
Depreciation	192	203	192	194	194	190	191	192	192	189	192	195	195
Profit before tax	1,172	856	851	1,105	1,533	984	937	994	1,586	818	1,062	1,102	1,597
Tax %	25%	27%	25%	26%	25%	24%	25%	25%	26%	25%	26%	26%	25%
	878	623	636	823	1,144	750	701	744	1,181	614	790	818	1,191
EPS in Rs	5.86	4.16	4.24	5.49	7.62	5.00	4.67	4.96	7.87	4.09	5.27	5.45	7.94
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	22,696	31,467	37,748	39,501	27,133	24,616	30,599	38,395	35,452	26,023	43,169	59,899	52,809
	20,866	29,531	36,249	38,062	25,547	22,024	27,285	35,101	31,462	21,323	37,915	55,043	47,764
Operating Profit	1,830	1,937	1,499	1,439	1,586	2,592	3,314	3,294	3,990	4,700	5,254	4,856	5,046
OPM %	8%	6%	4%	4%	6%	11%	11%	9%	11%	18%	12%	8%	10%
	85	89	84	155	173	347	316	450	300	388	306	574	614
Interest	178	118	220	293	239	210	163	99	403	336	317	331	309
Depreciation	184	187	308	315	322	369	412	411	776	784	768	764	771
Profit before tax	1,553	1,720	1,055	985	1,199	2,360	3,055	3,234	3,111	3,968	4,474	4,335	4,579
Tax %	32%	33%	32%	10%	24%	28%	32%	33%	13%	26%	25%	25%
	1,058	1,149	712	883	913	1,706	2,078	2,155	2,698	2,949	3,352	3,240	3,413
EPS in Rs	7.05	7.66	4.75	5.88	6.09	11.37	13.85	14.37	17.98	19.66	22.35	21.60	22.75
Dividend Payout %	18%	16%	21%	17%	21%	22%	32%	70%	70%	58%	51%	46%

Compounded Sales Growth
10 Years:	7%
5 Years:	14%
3 Years:	19%
TTM:	-8%

Compounded Profit Growth
10 Years:	11%
5 Years:	9%
3 Years:	6%
TTM:	1%

Stock Price CAGR
10 Years:	15%
5 Years:	5%
3 Years:	8%
1 Year:	29%

Return on Equity
10 Years:	23%
5 Years:	25%
3 Years:	25%
Last Year:	23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	750	750	750	750	750	750	1,500	1,500	1,500	1,500	1,500	1,500	1,500
Reserves	2,770	3,700	4,236	4,939	5,864	7,344	8,220	8,566	9,453	10,150	11,925	13,435	14,588
	3,276	3,034	3,267	2,654	2,615	2,218	1,453	733	3,690	3,653	3,438	3,345	3,187
	2,415	3,599	3,660	2,781	3,198	3,517	4,480	4,285	4,056	3,630	4,258	4,164	4,684
Total Liabilities	9,211	11,083	11,913	11,124	12,426	13,829	15,654	15,085	18,699	18,933	21,122	22,444	23,959
	2,521	2,358	6,265	6,943	6,811	8,423	8,030	7,665	11,188	10,313	9,557	8,790	8,516
CWIP	3,290	4,331	880	747	1,550	49	220	348	5	25	193	1,126	1,259
Investments	140	140	140	90	90	2,935	4,122	989	349	1,550	1,050	1,044	175
	3,260	4,255	4,628	3,344	3,975	2,422	3,282	6,082	7,157	7,044	10,322	11,483	14,009
Total Assets	9,211	11,083	11,913	11,124	12,426	13,829	15,654	15,085	18,699	18,933	21,122	22,444	23,959

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	1,254	1,823	964	830	3,374	2,068	2,996	2,141	2,863	3,559	3,472	2,520
	20	-769	-803	-665	-854	-3,175	-1,278	-72	941	-927	-1,063	-1,137
	-448	-770	-197	-1,034	-699	-748	-1,335	-2,548	-3,055	-2,759	-2,211	-2,368
Net Cash Flow	826	285	-36	-870	1,821	-1,856	383	-478	749	-127	198	-985

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	21	20	19	12	13	18	19	13	16	26	23	23
Inventory Days	13	13	10	9	4	9	7	6	6	6	6	8
Days Payable	22	29	19	3	11	16	21	14	14	18	15	11
Cash Conversion Cycle	11	4	10	18	6	11	4	5	8	14	13	20
Working Capital Days	-3	-8	-1	8	-2	-5	-8	-3	3	9	9	16
ROCE %	27%	26%	16%	15%	15%	26%	30%	30%	28%	29%	30%	27%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%
	31.06%	32.13%	34.06%	33.60%	34.83%	34.83%	34.85%	34.81%	34.27%	33.31%	26.82%	26.22%
	5.11%	4.65%	3.23%	3.38%	2.93%	4.05%	4.11%	4.55%	4.97%	5.93%	10.95%	11.37%
	13.83%	13.22%	12.71%	13.02%	12.24%	11.11%	11.03%	10.66%	10.77%	10.76%	12.21%	12.41%
No. of Shareholders	4,35,420	4,21,045	4,19,197	4,37,536	4,12,002	4,08,400	4,03,627	3,94,760	3,89,109	3,84,845	4,33,628	4,54,319

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%
	19.43%	25.11%	25.65%	29.31%	30.50%	33.60%	34.81%	26.22%
	17.69%	9.82%	11.01%	7.80%	6.32%	3.38%	4.55%	11.37%
	12.88%	15.07%	13.34%	12.89%	13.18%	13.02%	10.66%	12.41%
No. of Shareholders	2,77,488	3,25,721	3,08,014	3,11,154	3,77,345	4,37,536	3,94,760	4,54,319

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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