Securities has reduce call on Petronet LNG with a target price of Rs 205. The current market price of . is Rs 209.1. Time period given by analyst is one year when Ltd. price can reach defined target.
Petronet LNG Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 31545.00 Crore) operating in Gas & Petroleum sector.
Petronet LNG Ltd. key Products/Revenue Segments include Liquified Natural Gas, Other Services and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 14388.00 Crore, up 27.99 % from last quarter Total Income of Rs 11241.74 Crore and up 66.02 % from last year same quarter Total Income of Rs 8666.47 Crore. Company reported net profit after tax of Rs 683.01 Crore in latest quarter.
Investment Rationale
REDUCE recommendation on Petronet LNG (PLNG) with a TP of INR 205 is based on: (1) adverse impact of high spot LNG price and (2) rising domestic gas production on spot LNG demand in the medium term. Q1 reported EBITDA was at INR 11bn (+1% YoY, -9% QoQ), broadly in line, while PAT came at INR 7bn (+10% YoY, -7% QoQ), ahead of our estimates, due to higher-than-expected other income. Volumes remained muted at 208tbtu (-0.5% YoY).
Promoter/FII Holdings
Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 34.83 per cent, DIIs 2.94 per cent.
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