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Earnings Call Transcript

Petronet LNG Earnings Call Transcript: Key Takeaways

Petronet LNG reported Q1 FY27 standalone PAT of INR 1,133 crores, up 33% YoY. High margins and inventory gains offset lower overall LNG volumes caused by Middle East geopolitical issues.

Highlights
MarginsStrong due to trading gains (INR 301Cr) and inventory gains (INR 193Cr).
Order bookTwo cargoes delivered under new Deepak Fertilizers contract since May 2026.
Demand visibilityReplacement volumes flowing despite Qatar force majeure; expect improvement post-conflict.
Management confidenceHigh regarding resilience and trading margin business model.

Growth

Standalone PBT/PAT grew 33% YoY. Consolidated PAT reached record Q1 high of INR 1,137 crores despite 6% YoY total volume decline to 207 TBTU.

Outlook

Budgeted FY27/FY28 capex of INR 9,064 crores each. Petrochemical project 40% complete; targeting 25-year plant life. New Qatar contract starts 2028.

Risks

Lower capacity utilization due to Strait of Hormuz conflict impacting Qatari volumes; Dahej utilization fell to 66% on expanded base.

Last quarter's promises, checked

Delivered

  • Guided FY26 Kochi highest ever volume → delivered 68 TBTU (= BEAT)
  • Guided Petrochem project on track → delivered 40% complete (= BEAT)
  • Guided Exxon contract start April 2026 → delivered first cargo in April (= BEAT)

Partly delivered

  • Guided FY26 Capex INR 3,000Cr → delivered INR 2,511Cr cash outflow (= PARTIAL)

Missed

  • Guided June supply resumption → delivered volumes still impacted by conflict (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: PETRONET. Summary written with AI assistance from the document.

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Petronet LNG Ltd: key numbers

Share price
₹286.50
Market cap
₹42,975 Cr
Revenue (annual)
₹43,495 Cr
Net profit (annual)
₹3,913 Cr
P/E (TTM)
10.2×Sector 18.7×
Promoter holding
50.00%+0.00% QoQ
FII holding
26.27%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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