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Emkay Global has buy call on Petronet LNG with a target price of Rs 255. The current market price of . is Rs 210.25. 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 31507.50 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 31-03-2022, the company reported a Consolidated Total Income of Rs 11241.74 Crore, down -11.27 % from last quarter Total Income of Rs 12669.14 Crore and up 47.44 % from last year same quarter Total Income of Rs 7624.47 Crore. Company reported net profit after tax of Rs 745.37 Crore in latest quarter.

Investment Rationale
The brokerage cuts FY23E/FY24E EBITDA by 2% each as it builds in a higher Kochi tariff, offset by volume reduction from high LNG prices. It lowers Mar’23E DCF-based TP by 5% to Rs255, assuming higher WACC. It retains Buy with an EW stance.

Promoter/FII Holdings
Promoters held 50.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 33.6 per cent, DIIs 3.38 per cent.

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