Petronet LNG Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 38655.00 Crore) operating in Gas & Petroleum sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 7427.90 Crore, up 16.47 % from last quarter Total Income of Rs 6377.66 Crore and down -17.42 % from last year same quarter Total Income of Rs 8994.39 Crore. Company reported net profit after tax of Rs 867.08 Crore in latest quarter.
Investment Rationale
The brokerage continues to believe that there is limited scope for further sharp tariff hikes in the long term given significant upcoming LNG as well as domestic gas competition. With risk-reward priced in, it maintains ‘HOLD/SN’ with DCF-based TP of INR260/share at 8.1x FY22E PER.
Promoter/FII Holdings
Promoters held 50 per cent stake in the company as of Dec 30, 2020, while FIIs held 29.5 per cent, DIIs 7 per cent and public and others 13.5 per cent.
