Major products/revenue segments of Petronet LNG include liquefied natural gas, other services and other operating income for the year ending 31-Mar-2024.
Financial
For the quarter ended 30-09-2024, the company reported Rs. 13225.94 crores reported a consolidated total revenue of Rs. 13592.84 crores down by -2.70% and 4.25% higher than the total revenue of Rs.682.18 crores in the same quarter last year. Crore The company reported a net profit after tax of Rs 848.99 crore in the latest quarter.
The top management of the company includes Mr. Pankaj Jain, Mr. G. Krishnakumar, Mr. Sandeep Kumar Gupta, Mr. Milind Toravane, Mr. Arun Kumar Singh, Mr. Mukar Jeet Sharma, Mr. Sanjeev Mitla, Mrs. Bhaswati Mukherjee, Mr. Ryan Nogi Karanjawala, Mr. Sandeep Bhutoria, Mr. Pramod Narang, Mr. V.K. Mishra, Mr. Akshay Kumar Singh, Mr. S.M. physician. The company has TR Chadha & Company as its auditor. As on 30-09-2024, the company has a total of 150 crore shares outstanding.
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Investment rationale
Petronet delivered resilient performance in Q2FY25, driven by strong volume growth and solid utilization levels. The expansion project at Dahej Terminal, scheduled to be completed by March 2025, will increase its capacity by 5 MMTPA. Meanwhile, the resolution of the Kochi terminal’s pipeline connectivity issue, expected by March/April 2025, will boost its utilization levels and increase demand for city gas distribution projects in South Indian cities. Additionally, progress on petrochemical projects and expected improvements at both terminals should support utilization margins. Hence, we based on 14.1x FY26E Adjusted EPS, Rs. We reiterate an Accumulate rating on the stock, with a revised target price of 393.
Promoter/FII Holdings
As on 30-Sep-2024, promoters hold 50 per cent stake in the company, while FIIs hold 27.31 per cent, DIIs 11.79 per cent.
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