Petronet LNG Ltd

₹ 221 1.91%
01 Jul - close price
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 between GAIL, Indian Oil, Bharat Petroleum & ONGC holding 12.5% each.[2]

Key Points

Major player in LNG supply
The company is in the niche 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 40% of gas supplies in the country and handles ~75% of LNG imports in India.[1]

  • Market Cap 33,218 Cr.
  • Current Price 221
  • High / Low 244 / 190
  • Stock P/E 9.91
  • Book Value 89.5
  • Dividend Yield 2.03 %
  • ROCE 30.0 %
  • ROE 26.7 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.35%
  • Company has been maintaining a healthy dividend payout of 49.38%

Cons

  • The company has delivered a poor sales growth of 11.89% over past five years.

* 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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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
8,613 9,361 8,910 8,567 4,884 6,236 7,328 7,575 8,598 10,813 12,597 11,160
7,590 8,201 7,803 7,870 3,974 4,873 5,993 6,484 7,544 9,516 10,865 9,991
Operating Profit 1,024 1,160 1,108 698 910 1,363 1,335 1,091 1,054 1,297 1,732 1,169
OPM % 12% 12% 12% 8% 19% 22% 18% 14% 12% 12% 14% 10%
104 25 84 86 68 160 111 49 69 82 72 85
Interest 101 105 94 104 88 85 82 81 80 79 78 80
Depreciation 190 196 196 194 194 195 192 203 192 194 194 190
Profit before tax 838 885 902 486 697 1,243 1,172 856 851 1,105 1,533 984
Tax % 33% -25% 25% 26% 25% 25% 25% 27% 25% 26% 25% 24%
Net Profit 560 1,103 675 359 520 927 878 623 636 823 1,144 750
EPS in Rs 3.74 7.35 4.50 2.39 3.47 6.18 5.86 4.16 4.24 5.49 7.62 5.00

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
13,197 22,696 31,467 37,748 39,501 27,133 24,616 30,599 38,395 35,452 26,023 43,169
11,981 20,866 29,531 36,249 38,062 25,547 22,024 27,285 35,101 31,462 21,323 37,916
Operating Profit 1,216 1,830 1,937 1,499 1,439 1,586 2,592 3,314 3,294 3,990 4,700 5,252
OPM % 9% 8% 6% 4% 4% 6% 11% 11% 9% 11% 18% 12%
68 85 89 84 155 173 347 316 450 300 388 307
Interest 193 178 118 220 293 239 210 163 99 403 336 317
Depreciation 185 184 187 308 315 322 369 412 411 776 784 768
Profit before tax 906 1,553 1,720 1,055 985 1,199 2,360 3,055 3,234 3,111 3,968 4,474
Tax % 32% 32% 33% 32% 10% 24% 28% 32% 33% 13% 26% 25%
Net Profit 620 1,058 1,149 712 883 913 1,706 2,078 2,155 2,698 2,949 3,352
EPS in Rs 4.13 7.05 7.66 4.75 5.88 6.09 11.37 13.85 14.37 17.98 19.66 22.35
Dividend Payout % 24% 18% 16% 21% 17% 21% 22% 32% 70% 70% 58% 20%
Compounded Sales Growth
10 Years: 7%
5 Years: 12%
3 Years: 4%
TTM: 66%
Compounded Profit Growth
10 Years: 12%
5 Years: 14%
3 Years: 16%
TTM: 14%
Stock Price CAGR
10 Years: 12%
5 Years: 1%
3 Years: -4%
1 Year: -1%
Return on Equity
10 Years: 23%
5 Years: 25%
3 Years: 26%
Last Year: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
750 750 750 750 750 750 750 1,500 1,500 1,500 1,500 1,500
Reserves 1,930 2,770 3,700 4,236 4,939 5,864 7,344 8,220 8,566 9,453 10,150 11,925
3,216 3,276 3,034 3,267 2,654 2,615 2,218 1,453 733 3,690 3,386 3,438
1,565 2,415 3,599 3,660 2,781 3,198 3,517 4,480 4,285 4,056 3,897 4,255
Total Liabilities 7,461 9,211 11,083 11,913 11,124 12,426 13,829 15,654 15,085 18,699 18,933 21,119
2,702 2,521 2,358 6,265 6,943 6,811 8,423 8,030 7,665 11,188 10,313 9,557
CWIP 2,012 3,290 4,331 880 747 1,550 49 220 348 5 25 193
Investments 1,165 140 140 140 90 90 2,935 4,122 989 349 1,550 1,050
1,582 3,260 4,255 4,628 3,344 3,975 2,422 3,282 6,082 7,157 7,044 10,319
Total Assets 7,461 9,211 11,083 11,913 11,124 12,426 13,829 15,654 15,085 18,699 18,933 21,119

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
844 1,254 1,823 964 830 3,374 2,068 2,996 2,141 2,863 3,559 3,472
-1,316 20 -769 -803 -665 -854 -3,175 -1,278 -72 941 -927 -1,063
289 -448 -770 -197 -1,034 -699 -748 -1,335 -2,548 -3,055 -2,759 -2,211
Net Cash Flow -183 826 285 -36 -870 1,821 -1,856 383 -478 749 -127 198

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 23 21 20 19 12 13 18 19 13 16 26 23
Inventory Days 8 13 13 10 9 4 9 7 6 6 6 6
Days Payable 18 22 29 19 3 11 16 21 14 14 18 15
Cash Conversion Cycle 14 11 4 10 18 6 11 4 5 8 14 13
Working Capital Days -6 -3 -8 -1 8 -2 -5 -8 -3 3 5 17
ROCE % 21% 27% 26% 16% 15% 15% 26% 30% 30% 28% 29% 30%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00
26.98 27.21 28.61 29.31 29.15 28.07 29.49 30.50 31.06 32.13 34.06 33.60
10.28 10.04 9.16 7.80 7.86 8.43 7.00 6.32 5.11 4.65 3.23 3.38
12.74 12.75 12.23 12.89 12.99 13.50 13.51 13.18 13.83 13.22 12.71 13.02

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