|
Petronet LNG consolidated
net sales increased 71.90% to Rs 12597.22 crore in Q3FY22 compared to
Q3FY21. Operating profit margin has
declined from 18.22% to 13.75%, leading to 29.70% rise in operating profit to
Rs 1,731.83 crore. Raw material cost as
a % of total sales (net of stock adjustments) increased from 79.74% to
84.90%. Employee cost decreased from
0.47% to 0.28%. Other expenses fell
from 1.57% to 1.07%.
Other income fell 27.84% to
Rs 71.92 crore. PBIDT rose 25.70% to Rs
1803.75 crore. Provision for interest
fell 4.82% to Rs 77.57 crore.
PBDT rose 27.54% to Rs
1726.18 crore. Provision for
depreciation rose 0.60% to Rs 193.64 crore.
Profit before tax grew
32.01% to Rs 1,532.54 crore. Share of
profit/loss was 7.68% higher at Rs 16.12 crore.
Provision for tax was expense of Rs 389.2 crore, compared to Rs 293.89
crore. Effective tax rate was 25.13%
compared to 24.99%.
Net profit attributable to
owners of the company increased 31.45% to Rs 1,159.46 crore.
As per terms of long term
regasitication agreement, the company has booked ··Use or Pay charges`" of
Rs 347.78 crore for Calendar year (CY) 2021 (Rs 55.88 crore for CY 2020 ) on
account of lower capacity utilisation by its customers and recognized the same
as income in the profit and loss.
Th e company had invoiced
Rs 198.44 crore (excluding GST) as ·use or pay charges· to its 3 customers,
over a period of last 4 years (upto Calendar year 2020) for underutilization of
committed regasification facility at the Dahej plant, as per the terms of
long-term regasification agreement. Out of the above , total amount of Rs
143.92 crore (excluding GST) had been withheld and Rs 54.52 crore (excluding
GST) has been paid under protest. Pending settlement of the issue of use or pay
charges, based on negotiation and discussion with one of the customers on the
basis of higher volumes achieved by the customer in the other contracts/
location, over and above commitments, net adjustment of Rs 65.38 crore
(excluding GST) w.r.t. revenue booked in earlier periods had been recognized in
the previous quarter.
Promoters’ stake was 50.00%
as of 31 December 2021 compared to 50.00% as of 31 December 2020.
For year-to-date (YTD) results analysis
Net sales of Petronet LNG
have increased 73.51% to Rs 32008.2 crore.
Operating profit margin has declined from 19.56% to 12.75%, leading to
13.07% rise in operating profit to Rs 4,080.07 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 78.06% to 85.27%. Employee cost decreased from 0.56% to
0.42%. Other expenses fell from 1.82%
to 1.56%.
Other income fell 30.19% to
Rs 216.36 crore. PBIDT rose 9.65% to Rs
4296.43 crore. Provision for interest
fell 6.92% to Rs 237.04 crore.
PBDT rose 10.80% to Rs
4059.39 crore. Provision for
depreciation fell 0.42% to Rs 578.83 crore.
Profit before tax grew
12.92% to Rs 3,480.56 crore. Share of
profit/loss was 1,110.73% higher at Rs 53.03 crore. Provision for tax was expense of Rs 886.46
crore, compared to Rs 785.53 crore.
Effective tax rate was 25.09% compared to 25.45%.
Net profit attributable to
owners of the company increased 15.03% to Rs 2,647.13 crore.
Promoters’ stake was 50.00%
as of 31 December 2021 compared to 50.00% as of 31 December 2020.
Full year results analysis
Net sales of Petronet LNG
have declined 26.60% to Rs 26022.9 crore.
Operating profit margin has jumped from 11.25% to 18.06%, leading to
17.80% rise in operating profit to Rs 4,699.54 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 86.02% to 79.47%. Employee cost increased from 0.35% to
0.57%. Other expenses fell from 2.37%
to 1.90%.
Other income fell 1.23% to
Rs 359.08 crore. PBIDT rose 16.21% to Rs
5058.62 crore. Provision for interest
fell 16.68% to Rs 335.95 crore. Loan
funds declined from Rs 3,403.41 crore as of 31 March 2020 to Rs 3,344.65 crore
as of 31 March 2021. Inventories
declined from Rs 480.89 crore as of 31 March 2020 to Rs 337.18 crore as of 31
March 2021. Sundry debtors were higher
at Rs 1,874.53 crore as of 31 March 2021 compared to Rs 1,602.57 crore as of 31
March 2020. Cash and bank balance
declined from Rs 4,432.01 crore as of 31 March 2020 to Rs 4,342.34 crore as of
31 March 2021. Investments rose to Rs
1,706.97 crore as of 31 March 2021 from Rs 517.00 crore as of 31 March 2020
.
PBDT rose 19.57% to Rs
4722.67 crore. Provision for
depreciation rose 1.03% to Rs 784.09 crore.
Fixed assets declined from Rs 11,192.67 crore as of 31 March 2020 to Rs
10,338.40 crore as of 31 March 2021.
Intangible assets increased from Rs 0.20 crore to Rs 0.22 crore.
Profit before tax grew
24.10% to Rs 3,938.58 crore. Share of
profit/loss was 28.34% higher at Rs 18.93 crore. Provision for tax was expense of Rs 1018.28
crore, compared to Rs 413.05 crore.
Effective tax rate was 25.73% compared to 13.25%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company increased 8.73% to Rs 2,939.23
crore.
Equity capital stood at Rs
1,500.00 crore as of 31 March 2021 to Rs 1,500.00 crore as of 31 March
2020. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 31 March 2021 compared to 50.00% as of 31 March 2020 .
Cash flow from operating
activities increased to Rs 3,559.23 crore for year ended March 2021 from Rs
2,863.11 crore for year ended March 2020.
Cash flow used in acquiring fixed assets during the year ended March
2021 stood at Rs 73.04 crore, compared to Rs 40.79 crore during the year ended
March 2020.
The scrip is trading at Rs 218
at BSE
|
Petronet
LNG : Consolidated Results
|
|
Particulars
|
2112
(03)
|
2012
(03)
|
Var.(%)
|
2112
(09)
|
2012
(09)
|
Var.(%)
|
2103
(12)
|
2003
(12)
|
Var.(%)
|
|
Net
Sales
|
12,597.22
|
7,328.23
|
72
|
32,008.20
|
18,447.58
|
74
|
26,022.90
|
35,452.00
|
-27
|
|
OPM
(%)
|
13.7
|
18.2
|
|
12.7
|
19.6
|
|
18.1
|
11
|
|
|
OP
|
1,731.83
|
1335.29
|
30
|
4,080.07
|
3608.45
|
13
|
4,699.54
|
3,989.47
|
18
|
|
Other
Inc.
|
71.92
|
99.67
|
-28
|
216.36
|
309.93
|
-30
|
359.08
|
363.57
|
-1
|
|
PBIDT
|
1,803.75
|
1,434.96
|
26
|
4,296.43
|
3,918.38
|
10
|
5,058.62
|
4,353.04
|
16
|
|
Interest
|
77.57
|
81.5
|
-5
|
237.04
|
254.66
|
-7
|
335.95
|
403.2
|
-17
|
|
PBDT
|
1,726.18
|
1,353.46
|
28
|
4,059.39
|
3,663.72
|
11
|
4,722.67
|
3,949.84
|
20
|
|
Depreciation
|
193.64
|
192.49
|
1
|
578.83
|
581.26
|
0
|
784.09
|
776.13
|
1
|
|
PBT
|
1,532.54
|
1,160.97
|
32
|
3,480.56
|
3,082.46
|
13
|
3938.58
|
3173.71
|
24
|
|
Share
of Profit/(Loss) from Associates
|
16.12
|
14.97
|
8
|
53.03
|
4.38
|
LP
|
18.93
|
14.75
|
28
|
|
PBT
before EO
|
1,548.66
|
1,175.94
|
32
|
3,533.59
|
3,086.84
|
14
|
3957.51
|
3188.46
|
24
|
|
EO
Income
|
0
|
0
|
|
0
|
0
|
|
0
|
-72.06
|
-
|
|
PBT
after EO
|
1,548.66
|
1,175.94
|
32
|
3,533.59
|
3,086.84
|
14
|
3957.51
|
3116.4
|
27
|
|
Taxation
|
389.2
|
293.89
|
32
|
886.46
|
785.53
|
13
|
1018.28
|
413.05
|
147
|
|
PAT
|
1159.46
|
882.05
|
31
|
2647.13
|
2301.31
|
15
|
2939.23
|
2703.35
|
9
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
19.6
|
18.4
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 1,500.00 crore, Face value of Rs 10, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|