Petronet LNG Ltd

₹ 209 -0.90%
03 Feb - 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 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]

Website BSE NSE
  • Market Cap ₹ 31,358 Cr.
  • Current Price ₹ 209
  • High / Low ₹ 232 / 190
  • Stock P/E 9.29
  • Book Value ₹ 94.6
  • Dividend Yield 2.15 %
  • ROCE 29.8 %
  • ROE 26.8 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.4%
  • Company has been maintaining a healthy dividend payout of 59.8%

Cons

  • The company has delivered a poor sales growth of 11.9% 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

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
8,910 8,567 4,884 6,236 7,328 7,575 8,598 10,813 12,597 11,160 14,264 15,986 15,776
7,803 7,870 3,974 4,873 5,993 6,484 7,544 9,516 10,865 9,991 13,199 14,813 14,101
Operating Profit 1,108 698 910 1,363 1,335 1,091 1,054 1,297 1,732 1,169 1,064 1,173 1,675
OPM % 12% 8% 19% 22% 18% 14% 12% 12% 14% 10% 7% 7% 11%
84 86 68 160 111 49 69 82 72 85 142 94 184
Interest 94 104 88 85 82 81 80 79 78 80 78 81 81
Depreciation 196 194 194 195 192 203 192 194 194 190 191 192 192
Profit before tax 902 486 697 1,243 1,172 856 851 1,105 1,533 984 937 994 1,586
Tax % 25% 26% 25% 25% 25% 27% 25% 26% 25% 24% 25% 25% 26%
Net Profit 675 359 520 927 878 623 636 823 1,144 750 701 744 1,181
EPS in Rs 4.50 2.39 3.47 6.18 5.86 4.16 4.24 5.49 7.62 5.00 4.67 4.96 7.87
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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 TTM
13,197 22,696 31,467 37,748 39,501 27,133 24,616 30,599 38,395 35,452 26,023 43,169 57,186
11,981 20,866 29,531 36,249 38,062 25,547 22,024 27,285 35,101 31,462 21,323 37,915 52,104
Operating Profit 1,216 1,830 1,937 1,499 1,439 1,586 2,592 3,314 3,294 3,990 4,700 5,254 5,082
OPM % 9% 8% 6% 4% 4% 6% 11% 11% 9% 11% 18% 12% 9%
68 85 89 84 155 173 347 316 450 300 388 306 505
Interest 193 178 118 220 293 239 210 163 99 403 336 317 321
Depreciation 185 184 187 308 315 322 369 412 411 776 784 768 765
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 4,501
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 3,376
EPS in Rs 13.85 14.37 17.98 19.66 22.35 22.50
Dividend Payout % 24% 18% 16% 21% 17% 21% 22% 32% 70% 70% 58% 51%
Compounded Sales Growth
10 Years: 7%
5 Years: 12%
3 Years: 4%
TTM: 44%
Compounded Profit Growth
10 Years: 12%
5 Years: 14%
3 Years: 16%
TTM: 5%
Stock Price CAGR
10 Years: 11%
5 Years: -3%
3 Years: -8%
1 Year: -2%
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 Sep 2022
750 750 750 750 750 750 750 1,500 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 12,694
3,216 3,276 3,034 3,267 2,654 2,615 2,218 1,453 733 3,690 3,653 3,438 3,474
1,565 2,415 3,599 3,660 2,781 3,198 3,517 4,480 4,285 4,056 3,630 4,258 5,512
Total Liabilities 7,461 9,211 11,083 11,913 11,124 12,426 13,829 15,654 15,085 18,699 18,933 21,122 23,180
2,702 2,521 2,358 6,265 6,943 6,811 8,423 8,030 7,665 11,188 10,313 9,557 9,141
CWIP 2,012 3,290 4,331 880 747 1,550 49 220 348 5 25 193 449
Investments 1,165 140 140 140 90 90 2,935 4,122 989 349 1,550 1,050 332
1,582 3,260 4,255 4,628 3,344 3,975 2,422 3,282 6,082 7,157 7,044 10,322 13,258
Total Assets 7,461 9,211 11,083 11,913 11,124 12,426 13,829 15,654 15,085 18,699 18,933 21,122 23,180

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 9 9
ROCE % 21% 27% 26% 16% 15% 15% 26% 30% 30% 28% 29% 30%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 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
29.31 29.15 28.07 29.49 30.50 31.06 32.13 34.06 33.60 34.83 34.83 34.85
7.80 7.86 8.43 7.00 6.32 5.11 4.65 3.23 3.38 2.93 4.05 4.11
12.89 12.99 13.50 13.51 13.18 13.83 13.22 12.71 13.02 12.24 11.11 11.03

* 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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