Petronet LNG
Petronet LNG
Oil & Gas F&OKey Fundamentals
MidcapGas SupplierOil & GasTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 39.0%
Weaknesses
1- The company has delivered a poor sales growth of 10.8% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoPetronet LNG Ltd, India's largest LNG importer, trades at a market cap of ₹42,975 Cr with a PE of 10.3x and dividend yield of 3.46%. The company shows solid long-term profitability with 10-year ROE averaging 23%, but faces near-term revenue headwinds with TTM sales declining 25% year-over-year.
- Attractive valuation with PE of 10.3x, well below the broader market average, suggesting the stock is not priced for high expectations
- Strong long-term return on equity averaging 23% over 10 years and 20% over 3 years, indicating efficient capital deployment
- Healthy dividend payout of 39.0% with a current dividend yield of 3.46%, offering meaningful income to shareholders
- Compounded profit growth of 16% over 10 years demonstrates durable earnings power through multiple commodity cycles
- TTM profit growth of 13% shows earnings resilience even as revenues declined, pointing to margin expansion or cost discipline
- Price-to-book ratio of 1.94x is reasonable for a company generating 18-23% ROE, suggesting the market is not overvaluing the asset base
- 5-year compounded sales CAGR of 11% reflects structural growth in India's LNG import demand over medium-term periods
- TTM sales declined 25% year-over-year, a sharp contraction that raises questions about near-term volume or pricing trends
- 3-year compounded sales CAGR of -10% indicates revenue erosion is not a one-quarter anomaly but a sustained trend
- Last year ROE of 18% has declined from the 5-year average of 22% and 10-year average of 23%, signaling fading capital efficiency
- Stock CAGR of just 5-7% across 3, 5, and 10-year periods has significantly underperformed broader Indian equity indices
- Poor sales growth of 10.8% over five years as flagged by screening metrics, lagging nominal GDP growth and peer benchmarks
- 5-year compounded profit growth of only 6% versus 16% over 10 years suggests the most recent half-decade has been materially weaker
- As an LNG importer, the business carries inherent exposure to global gas price volatility, currency fluctuations, and long-term take-or-pay contract risks
- 1-year stock CAGR of just 4% indicates the market has shown limited enthusiasm for the stock despite a low PE multiple
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- SEBI compliance penalty paid Sep 9
Petronet LNG paid ₹76,700 each to NSE and BSE for non-compliance with SEBI LODR Regulation 17(1) for the quarter ended June 2026.
- LNG volume dip from Gulf Aug 19
Q1FY27 saw lower LNG volumes due to Gulf disruptions, though trading and inventory gains of ₹494 crore offset the impact.
- Q1FY27 profit jumps 33% YoY Aug 19
Petronet LNG posted record Q1FY27 standalone PAT of ₹1,133 crore, up 33% YoY, driven by ₹494 crore in trading and inventory gains.
- 19-year dividend streak, 3.46% yield Sep 11
Unbroken dividend payments since 2007 with current ₹10/share payout yielding 3.46%. PAT grew 313.8% from ₹929 crore in FY16 to ₹3,843 crore in FY26 at a 15.3% CAGR.
- Dahej expansion to 22.5 MMTPA Sep 11
Dahej terminal expansion to 22.5 MMTPA completed in March 2026, taking total regasification capacity to 27.5 MMTPA. East coast greenfield terminal and Dahej petrochemicals project are in pipeline.
- AGM Sep 28, ₹3 final dividend Sep 3
28th AGM scheduled for September 28, 2026 with ₹3.00 per share final dividend recommended by the Board. E-voting opens September 24.
- Attending investor conferences Sep 3
Petronet LNG attending J.P. Morgan India Conference on Sep 21 and Elara India Dialogue on Sep 1, 2026 in Mumbai. No UPSI to be shared.
- FY26 BRSR sustainability filing Sep 2
Filed FY26 Business Responsibility and Sustainability Report detailing Scope 1 and 2 emissions, water usage, and renewable energy initiatives.
TL;DR: Petronet LNG is executing well with record Q1FY27 profits up 33% YoY and a strong 19-year dividend track record backed by 15.3% PAT CAGR over the last decade. Capacity expansion to 27.5 MMTPA is complete with further greenfield and petrochemical projects planned. The minor SEBI compliance penalty is immaterial, while Gulf-related volume disruptions bear watching. Overall trend is positive with earnings momentum and expansion optionality supporting the investment case.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11,656 | 12,533 | 14,747 | 13,793 | 13,415 | 13,024 | 12,227 | 12,316 | 11,880 | 11,009 | 11,164 | 9,442 | 5,558 |
| Expenses | 10,475 | 11,318 | 13,042 | 12,690 | 11,853 | 11,822 | 10,980 | 10,803 | 10,721 | 9,892 | 9,966 | 7,581 | 4,023 |
| Operating Profit | 1,182 | 1,215 | 1,705 | 1,104 | 1,562 | 1,202 | 1,247 | 1,512 | 1,159 | 1,117 | 1,198 | 1,861 | 1,535 |
| OPM % | 10% | 10% | 12% | 8% | 12% | 9% | 10% | 12% | 10% | 10% | 11% | 20% | 28% |
| Other Income | 145 | 194 | 157 | 154 | 178 | 202 | 196 | 197 | 217 | 234 | 214 | 200 | 208 |
| Interest | 75 | 75 | 70 | 71 | 67 | 65 | 65 | 61 | 59 | 61 | 56 | 62 | 51 |
| Depreciation | 192 | 195 | 195 | 194 | 195 | 196 | 210 | 206 | 207 | 211 | 215 | 205 | 201 |
| PBT | 1,060 | 1,140 | 1,597 | 992 | 1,479 | 1,142 | 1,169 | 1,443 | 1,110 | 1,079 | 1,141 | 1,794 | 1,491 |
| Tax % | 26% | 25% | 25% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 25% | 26% |
| Net Profit | 819 | 856 | 1,213 | 764 | 1,105 | 871 | 902 | 1,095 | 842 | 830 | 870 | 1,371 | 1,137 |
| EPS in Rs | 5.46 | 5.7 | 8.09 | 5.1 | 7.37 | 5.8 | 6.01 | 7.3 | 5.61 | 5.54 | 5.8 | 9.14 | 7.58 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 39,627 | 27,133 | 24,616 | 30,599 | 38,395 | 35,452 | 26,023 | 43,169 | 59,899 | 52,729 | 50,982 | 43,495 | 37,173 |
| Expenses | 38,109 | 25,547 | 22,024 | 27,285 | 35,101 | 31,462 | 21,323 | 37,918 | 55,045 | 47,520 | 45,457 | 38,157 | 31,462 |
| Operating Profit | 1,518 | 1,586 | 2,592 | 3,314 | 3,294 | 3,990 | 4,700 | 5,250 | 4,854 | 5,209 | 5,525 | 5,338 | 5,711 |
| OPM % | 3.8% | 6% | 11% | 11% | 9% | 11% | 18% | 12% | 8% | 10% | 11% | 12% | 15% |
| Other Income | 156 | 188 | 364 | 349 | 525 | 306 | 377 | 395 | 523 | 605 | 772 | 861 | 855 |
| Interest | 308 | 239 | 210 | 163 | 99 | 403 | 336 | 317 | 331 | 290 | 258 | 237 | 229 |
| Depreciation | 329 | 322 | 369 | 412 | 411 | 776 | 784 | 768 | 764 | 777 | 806 | 838 | 832 |
| PBT | 1,037 | 1,214 | 2,378 | 3,088 | 3,309 | 3,116 | 3,958 | 4,559 | 4,282 | 4,748 | 5,233 | 5,124 | 5,505 |
| Tax % | 13% | 24% | 28% | 32% | 33% | 13% | 26% | 25% | 26% | 26% | 26% | 26% | — |
| Net Profit | 905 | 928 | 1,723 | 2,110 | 2,231 | 2,703 | 2,939 | 3,438 | 3,326 | 3,652 | 3,973 | 3,913 | 4,208 |
| EPS in Rs | 6.03 | 6.19 | 11.49 | 14.07 | 14.87 | 18.02 | 19.59 | 22.92 | 22.17 | 24.35 | 26.48 | 26.08 | 28.06 |
| Div. Payout % | 17% | 20% | 22% | 32% | 67% | 69% | 59% | 50% | 45% | 41% | 38% | 38% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 750 | 750 | 750 | 1,500 | 1,500 | 1,500 | 1,500 | 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 | 13,765 | 15,910 | 18,378 | 20,785 |
| Borrowings | 2,812 | 2,615 | 2,218 | 1,453 | 733 | 3,690 | 3,653 | 3,438 | 3,345 | 3,008 | 2,657 | 2,341 |
| Other Liabilities | 2,830 | 3,198 | 3,517 | 4,480 | 4,285 | 4,056 | 3,630 | 4,258 | 4,210 | 5,131 | 4,790 | 2,845 |
| Total Liabilities | 11,364 | 12,475 | 13,914 | 15,745 | 15,249 | 18,867 | 19,090 | 21,365 | 22,820 | 25,549 | 27,324 | 27,472 |
| Fixed Assets | 7,217 | 6,811 | 8,423 | 8,030 | 7,665 | 11,188 | 10,313 | 9,557 | 8,790 | 8,147 | 8,836 | 9,048 |
| CWIP | 754 | 1,550 | 49 | 220 | 348 | 5 | 25 | 193 | 1,126 | 1,552 | 1,642 | 2,497 |
| Investments | 5 | 138 | 3,020 | 4,213 | 1,154 | 517 | 1,707 | 1,286 | 1,368 | 617 | 1,712 | 742 |
| Other Assets | 3,388 | 3,975 | 2,422 | 3,282 | 6,082 | 7,157 | 7,044 | 10,329 | 11,535 | 15,233 | 15,135 | 15,184 |
| Total Assets | 11,364 | 12,475 | 13,914 | 15,745 | 15,249 | 18,867 | 19,090 | 21,365 | 22,820 | 25,549 | 27,324 | 27,472 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 901 | 3,374 | 2,068 | 2,996 | 2,141 | 2,863 | 3,559 | 3,479 | 2,519 | 4,871 | 4,398 | 4,750 |
| Investing | -717 | -854 | -3,175 | -1,278 | -72 | 941 | -927 | -1,063 | -1,142 | -1,056 | -3,189 | -1,472 |
| Financing | -1,058 | -699 | -748 | -1,335 | -2,548 | -3,055 | -2,759 | -2,211 | -2,368 | -2,154 | -2,152 | -2,200 |
| Net Cash Flow | -874 | 1,821 | -1,856 | 383 | -478 | 749 | -127 | 205 | -991 | 1,661 | -942 | 1,078 |
| Free Cash Flow | 849 | 2,403 | 1,522 | 2,820 | 1,979 | 2,822 | 3,486 | 3,406 | 1,461 | 4,030 | 2,941 | 2,231 |
| CFO/OP | 74 | 225 | 94 | 111 | 90 | 96 | 97 | 90 | 77 | 117 | 104 | 112 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 13 | 13 | 18 | 19 | 13 | 16 | 26 | 23 | 23 | 25 | 23 | 9 |
| Inventory Days | 9 | 4 | 9 | 7 | 6 | 6 | 6 | 6 | 8 | 12 | 10 | 9 |
| Days Payable | 3 | 11 | 16 | 21 | 14 | 14 | 18 | 15 | 11 | 23 | 21 | 7 |
| Cash Conversion Cycle | 18 | 6 | 11 | 4 | 5 | 8 | 14 | 13 | 20 | 14 | 12 | 11 |
| Working Capital Days | 8 | -2 | -5 | -8 | -3 | 3 | 5 | 7 | 15 | 9 | 7 | 2 |
| ROCE % | — | 15% | 26% | 30% | 31% | 28% | 28% | 30% | 26% | 26% | 25% | 23% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY10–FY26.
Documents
Frequently Asked Questions about Petronet LNG
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Company Information
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]
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