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Consolidated net sales
(including other operating income) of Petronet LNG has declined 0.58% to Rs
13793.16 crore. Operating profit margin
has jumped from 6.79% to 8%, leading to 17.08% rise in operating profit to Rs
1,103.56 crore. Raw material cost as a %
of total sales (net of stock adjustments) decreased from 91.09% to 90.18%. Employee cost increased from 0.25% to
0.34%. Other expenses fell from 1.87%
to 1.48%.
Other income rose 17% to Rs
153.64 crore. PBIDT rose 17.07% to Rs
1257.2 crore. Provision for interest
fell 21.57% to Rs 70.75 crore. Loan
funds declined from Rs 3,345.02 crore as of 31 March 2023 to Rs 3,008.10 crore
as of 31 March 2024. Inventories rose to
Rs 1,465.44 crore as of 31 March 2024 from Rs 1,153.07 crore as of 31 March
2023. Sundry debtors were lower at Rs
3,626.08 crore as of 31 March 2024 compared to Rs 3,843.61 crore as of 31 March
2023. Cash and bank balance rose to Rs
7,414.20 crore as of 31 March 2024 from Rs 5,685.79 crore as of 31 March
2023. Investments declined from Rs
1,368.33 crore as of 31 March 2023 to Rs 616.68 crore as of 31 March 2024.
PBDT rose 20.62% to Rs
1186.45 crore. Provision for
depreciation rose 3.10% to Rs 194.42 crore.
Fixed assets declined from Rs 9,913.34 crore as of 31 March 2023 to Rs
9,696.96 crore as of 31 March 2024.
Intangible assets declined from Rs 2.85 crore to Rs 2.41 crore.
Profit before tax grew
24.77% to Rs 992.03 crore. Share of
profit/loss was 10.16% higher at Rs 30.36 crore. Provision for tax was expense of Rs 257.96
crore, compared to Rs 203.83 crore.
Effective tax rate was 25.23% compared to 24.78%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company increased 23.53% to Rs 764.43 crore.
Equity capital stood at Rs
1,500.00 crore as of 31 March 2024 to Rs 1,500.00 crore as of 31 March
2023. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 31 March 2024 compared to 50.00% as of 31 March 2023.
During the current quarter
ended 31st March, 2024, Dahej terminal processed 219 TBTU of LNG as against 218
TBTU during the previous quarter ended 31st December, 2023 and 172 TBTU during
the corresponding quarter ended 31st March, 2023. The overall LNG volume
processed by the Company in the current quarter was 234 TBTU, as against the
LNG volume processed in the previous and corresponding quarters, which stood at
232 TBTU and 185 TBTU respectively.
Full year results analysis
Net sales (including other
operating income) of Petronet LNG has declined 11.97% to Rs 52729.33
crore. Operating profit margin has
jumped from 8.10% to 9.87%, leading to 7.24% rise in operating profit to Rs
5,205.45 crore. Raw material cost as a %
of total sales (net of stock adjustments) decreased from 90.07% to 88.12%. Employee cost increased from 0.28% to
0.37%. Other expenses rose from 1.54%
to 1.64%.
Other income rose 16.32% to
Rs 608.46 crore. PBIDT rose 8.12% to Rs
5813.91 crore. Provision for interest
fell 12.36% to Rs 289.67 crore. Loan
funds declined from Rs 3,345.02 crore as of 31 March 2023 to Rs 3,008.10 crore
as of 31 March 2024. Inventories rose to
Rs 1,465.44 crore as of 31 March 2024 from Rs 1,153.07 crore as of 31 March
2023. Sundry debtors were lower at Rs
3,626.08 crore as of 31 March 2024 compared to Rs 3,843.61 crore as of 31 March
2023. Cash and bank balance rose to Rs
7,414.20 crore as of 31 March 2024 from Rs 5,685.79 crore as of 31 March
2023. Investments declined from Rs
1,368.33 crore as of 31 March 2023 to Rs 616.68 crore as of 31 March 2024.
PBDT rose 9.47% to Rs
5524.24 crore. Provision for
depreciation rose 1.60% to Rs 776.56 crore.
Fixed assets declined from Rs 9,913.34 crore as of 31 March 2023 to Rs
9,696.96 crore as of 31 March 2024.
Intangible assets declined from Rs 2.85 crore to Rs 2.41 crore.
Profit before tax grew
10.87% to Rs 4,747.68 crore. Share of
profit/loss was 9.13% lower at Rs 125.42 crore.
Provision for tax was expense of Rs 1220.66 crore, compared to Rs
1094.38 crore. Effective tax rate was
25.05% compared to 24.76%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company increased 9.82% to Rs 3,652.44
crore.
Equity capital stood at Rs
1,500.00 crore as of 31 March 2024 to Rs 1,500.00 crore as of 31 March
2023. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 31 March 2024 ,compared to 50.00% as of 31 March 2023.
Cash flow from operating
activities increased to Rs 4,871.12 crore for year ended March 2024 from Rs
2,518.52 crore for year ended March 2023.
Cash flow used in acquiring fixed assets during the year ended March 2024
stood at Rs 841.42 crore, compared to Rs 1,058.84 crore during the year ended
March 2023.
During the current
financial year ended 31st March, 2024, Dahej terminal processed 865 TBTU of LNG
as against 704 TBTU processed during the previous financial year ended 31st
March, 2023. The overall LNG volume processed by the Company in the current
financial year was 919 TBTU, as against the LNG volume processed in the
previous financial year, which stood at 752 TBTU.
The scrip is trading at Rs 309
at BSE
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Petronet LNG : Consolidated
Results
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Particulars
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2403 (03)
|
2303 (03)
|
Var.(%)
|
2403 (12)
|
2303 (12)
|
Var.(%)
|
|
Net Sales (including other operating income)
|
13,793.16
|
13,873.93
|
-1
|
52,729.33
|
59,899.35
|
-12
|
|
OPM (%)
|
8
|
6.79
|
|
9.87
|
8.1
|
|
|
OP
|
1,103.56
|
942.53
|
17
|
5,205.45
|
4,853.96
|
7
|
|
Other Inc.
|
153.64
|
131.32
|
17
|
608.46
|
523.07
|
16
|
|
PBIDT
|
1,257.20
|
1,073.85
|
17
|
5,813.91
|
5,377.03
|
8
|
|
Interest
|
70.75
|
90.21
|
-22
|
289.67
|
330.51
|
-12
|
|
PBDT
|
1,186.45
|
983.64
|
21
|
5,524.24
|
5,046.52
|
9
|
|
Depreciation
|
194.42
|
188.57
|
3
|
776.56
|
764.34
|
2
|
|
PBT
|
992.03
|
795.07
|
25
|
4747.68
|
4282.18
|
11
|
|
Share of Profit/(Loss) from Associates
|
30.36
|
27.56
|
10
|
125.42
|
138.02
|
-9
|
|
PBT before EO
|
1022.39
|
822.63
|
24
|
4873.1
|
4420.2
|
10
|
|
EO Income
|
0
|
0
|
-
|
0
|
0
|
-
|
|
PBT after EO
|
1022.39
|
822.63
|
24
|
4873.1
|
4420.2
|
10
|
|
Taxation
|
257.96
|
203.83
|
27
|
1220.66
|
1094.38
|
12
|
|
PAT
|
764.43
|
618.8
|
24
|
3652.44
|
3325.82
|
10
|
|
Minority Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net profit
|
764.43
|
618.8
|
24
|
3652.44
|
3325.82
|
10
|
|
EPS (Rs)*
|
#
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#
|
|
24.4
|
22.2
|
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Notes
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* EPS is on current equity of Rs 1,500.00 crore, Face value of
Rs 10, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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