Petronet LNG Ltd

₹ 215 -0.35%
18 Aug - 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 32,250 Cr.
  • Current Price 215
  • High / Low 244 / 190
  • Stock P/E 9.23
  • Book Value 91.1
  • Dividend Yield 2.09 %
  • ROCE 30.2 %
  • ROE 27.0 %
  • 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 26.2%
  • Company has been maintaining a healthy dividend payout of 49.2%

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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 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 14,264
7,590 8,206 7,803 7,870 3,994 4,873 5,993 6,484 7,546 9,516 10,865 9,992 13,200
Operating Profit 1,024 1,155 1,108 698 890 1,363 1,335 1,091 1,052 1,297 1,732 1,169 1,064
OPM % 12% 12% 12% 8% 18% 22% 18% 14% 12% 12% 14% 10% 7%
106 16 88 101 68 152 115 64 105 76 88 127 166
Interest 101 105 94 104 88 85 82 81 80 79 78 80 78
Depreciation 190 196 196 194 194 195 192 203 192 194 194 190 191
Profit before tax 840 871 906 500 676 1,235 1,176 871 885 1,100 1,549 1,026 961
Tax % 33% -25% 25% 25% 26% 26% 25% 27% 24% 26% 25% 23% 25%
Net Profit 562 1,089 679 373 500 919 882 638 670 818 1,159 791 725
EPS in Rs 3.75 7.26 4.53 2.49 3.33 6.13 5.88 4.25 4.47 5.45 7.73 5.27 4.83

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
39,627 27,133 24,616 30,599 38,395 35,452 26,023 43,169 48,834
38,109 25,547 22,024 27,285 35,101 31,462 21,323 37,920 43,573
Operating Profit 1,518 1,586 2,592 3,314 3,294 3,990 4,700 5,249 5,261
OPM % 4% 6% 11% 11% 9% 11% 18% 12% 11%
156 188 364 349 525 306 377 396 457
Interest 308 239 210 163 99 403 336 317 315
Depreciation 329 322 369 412 411 776 784 768 768
Profit before tax 1,037 1,214 2,378 3,088 3,309 3,116 3,958 4,559 4,635
Tax % 13% 24% 28% 32% 33% 13% 26% 25%
Net Profit 905 928 1,723 2,110 2,231 2,703 2,939 3,438 3,493
EPS in Rs 6.03 6.19 11.49 14.07 14.87 18.02 19.59 22.92 23.28
Dividend Payout % 17% 20% 22% 32% 67% 69% 59% 20%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 4%
TTM: 64%
Compounded Profit Growth
10 Years: %
5 Years: 15%
3 Years: 16%
TTM: 12%
Stock Price CAGR
10 Years: 11%
5 Years: -1%
3 Years: -3%
1 Year: -4%
Return on Equity
10 Years: %
5 Years: 25%
3 Years: 26%
Last Year: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
750 750 750 1,500 1,500 1,500 1,500 1,500
Reserves 4,972 5,912 7,428 8,311 8,731 9,621 10,307 12,168
2,812 2,615 2,218 1,453 733 3,690 3,386 3,438
2,830 3,198 3,517 4,480 4,285 4,056 3,897 4,255
Total Liabilities 11,364 12,475 13,914 15,745 15,249 18,867 19,090 21,362
7,217 6,811 8,423 8,030 7,665 11,188 10,313 9,557
CWIP 754 1,550 49 220 348 5 25 193
Investments 5 138 3,020 4,213 1,154 517 1,707 1,286
3,388 3,975 2,422 3,282 6,082 7,157 7,044 10,326
Total Assets 11,364 12,475 13,914 15,745 15,249 18,867 19,090 21,362

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
901 3,374 2,068 2,996 2,141 2,863 3,559 3,469
-717 -854 -3,175 -1,278 -72 941 -927 -1,053
-1,058 -699 -748 -1,335 -2,548 -3,055 -2,759 -2,211
Net Cash Flow -874 1,821 -1,856 383 -478 749 -127 205

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 13 13 18 19 13 16 26 23
Inventory Days 9 4 9 7 6 6 6 6
Days Payable 3 11 16 21 14 14 18 15
Cash Conversion Cycle 18 6 11 4 5 8 14 13
Working Capital Days 8 -2 -5 -8 -3 3 5 17
ROCE % 15% 26% 30% 31% 28% 29% 30%

Shareholding Pattern

Numbers in percentages

5 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 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
27.21 28.61 29.31 29.15 28.07 29.49 30.50 31.06 32.13 34.06 33.60 34.83
10.04 9.16 7.80 7.86 8.43 7.00 6.32 5.11 4.65 3.23 3.38 2.93
12.75 12.23 12.89 12.99 13.50 13.51 13.18 13.83 13.22 12.71 13.02 12.24

Documents

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