|
Petronet LNG consolidated
sales increased 47.84% to Rs 15985.73 crore in Q2FY23 compared to Q2FY22. Operating profit margin has declined from
11.99% to 7.33%, leading to 9.58% decline in operating profit to Rs 1,172.54
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 85.67% to 91.07%. Employee cost decreased from 0.52% to
0.27%. Other expenses fell from 1.82%
to 1.32%.
During the quarter ended
30th September’ 2022, Dahej terminal processed 182 TBTU of LNG as against 196
TBTU during the previous quarter ended 30th June, 2022 and 225 TBTU during the
corresponding quarter ended 30th September, 2021. The overall LNG volume
processed by the company in the current quarter was 192 TBTU, as against the
LNG volume processed in the previous and corresponding quarters, which stood at
208 TBTU and 240 TBTU respectively.
Other income rose 15.90% to
Rs 87.93 crore. PBIDT fell 8.17% to Rs
1260.47 crore. Provision for interest
rose 2.09% to Rs 81.1 crore.
PBDT fell 8.80% to Rs
1179.37 crore. Provision for
depreciation fell 0.71% to Rs 192.21 crore.
Fixed assets declined from Rs 9,974.21 crore as of 30 September 2021 to
Rs 9,589.72 crore as of 30 September 2022.
Intangible assets increased from Rs 0.17 crore to Rs 0.28 crore.
Profit before tax down
10.22% to Rs 987.16 crore. Share of
profit/loss was 9,720.41% higher at Rs 48.12 crore. Provision for tax was expense of Rs 249.55
crore, compared to Rs 282.44 crore.
Effective tax rate was 24.10% compared to 25.68%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company decreased 3.90% to Rs 785.73 crore.
Equity capital stood at Rs
1,500.00 crore as of 30 September 2022 to Rs 1,500.00 crore as of 30 September
2021. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 30 September 2022 ,compared to 50.00% as of 30 September 2021 .
For year-to-date (YTD) results analysis
Net sales of Petronet LNG
have increased 55.84% to Rs 30249.55 crore.
Operating profit margin has
declined from 12.10% to 7.39%, leading to 4.76% decline in operating profit to
Rs 2,236.53 crore. Raw material cost as
a % of total sales (net of stock adjustments) increased from 85.56% to
90.77%. Employee cost decreased from
0.51% to 0.30%. Other expenses fell
from 1.84% to 1.54%.
Other income rose 46.85% to
Rs 212.11 crore. PBIDT fell 1.77% to Rs
2448.64 crore. Provision for interest
fell 0.33% to Rs 158.95 crore.
PBDT fell 1.87% to Rs
2289.69 crore. Provision for
depreciation fell 0.45% to Rs 383.45 crore.
Profit before tax down
2.14% to Rs 1,906.24 crore. Share of
profit/loss was 143.67% higher at Rs 89.94 crore. Provision for tax was expense of Rs 485.62
crore, compared to Rs 497.26 crore.
Effective tax rate was 24.33% compared to 25.05%.
Net profit attributable to
owners of the company increased 1.54% to Rs 1,510.56 crore.
Equity capital stood at Rs
1,500.00 crore as of 30 September 2022 to Rs 1,500.00 crore as of 30 September
2021. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 30 September 2022 ,compared to 50.00% as of 30 September 2021 .
Full year results analysis
Net sales (including other
operating income) of Petronet LNG has increased 65.89% to Rs 43168.57
crore. Operating profit margin has
declined from 18.06% to 12.16%, leading to 11.69% rise in operating profit to
Rs 5,248.69 crore. Raw material cost as
a % of total sales (net of stock adjustments) increased from 79.55% to
85.89%. Employee cost decreased from
0.57% to 0.41%. Other expenses fell
from 1.83% to 1.54%.
Other income fell 17.09% to
Rs 297.73 crore. PBIDT rose 9.64% to Rs
5546.42 crore. Provision for interest
fell 5.54% to Rs 317.33 crore. Loan funds
declined from Rs 3,652.93 crore as of 31 March 2021 to Rs 3,438.50 crore as of
31 March 2022. Inventories rose to Rs
576.68 crore as of 31 March 2022 from Rs 337.18 crore as of 31 March 2021. Sundry debtors were higher at Rs 2,684.44
crore as of 31 March 2022 compared to Rs 1,874.53 crore as of 31 March
2021. Cash and bank balance declined
from Rs 4,342.34 crore as of 31 March 2021 to Rs 4,326.27 crore as of 31 March
2022. Investments declined from Rs
1,706.97 crore as of 31 March 2021 to Rs 1,285.94 crore as of 31 March
2022.
PBDT rose 10.72% to Rs
5229.09 crore. Provision for
depreciation fell 1.99% to Rs 768.46 crore.
Fixed assets declined from Rs 10,338.40 crore as of 31 March 2021 to Rs
9,749.62 crore as of 31 March 2022.
Intangible assets declined from Rs 0.22 crore to Rs 0.20 crore.
Profit before tax grew
13.25% to Rs 4,460.63 crore. Share of
profit/loss was 421.13% higher at Rs 98.65 crore. Provision for tax was expense of Rs 1121.17
crore, compared to Rs 1018.28 crore.
Effective tax rate was 24.59% compared to 25.73%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company increased 16.97% to Rs 3,438.11
crore.
Equity capital stood at Rs
1,500.00 crore as of 31 March 2022 to Rs 1,500.00 crore as of 31 March
2021. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 31 March 2022 compared to 50.00% as of 31 March 2021.
Cash flow from operating
activities decreased to Rs 3,468.78 crore for year ended March 2022 from Rs
3,559.23 crore for year ended March 2021.
Cash flow used in acquiring fixed assets during the year ended March
2022 stood at Rs 72.32 crore, compared to Rs 73.04 crore during the year ended
March 2021.
The scrip is trading at Rs 212
at BSE
|
Petronet LNG : Consolidated
Results
|
|
Particulars
|
2209 (03)
|
2109 (03)
|
Var.(%)
|
2209 (06)
|
2109 (06)
|
Var.(%)
|
2203 (12)
|
2103 (12)
|
Var.(%)
|
|
Net Sales
|
15,985.73
|
10,813.08
|
48
|
30,249.55
|
19,410.98
|
56
|
43,168.57
|
26,022.90
|
66
|
|
OPM (%)
|
7.3
|
12.0
|
|
7.4
|
12.1
|
|
12.2
|
18.1
|
|
|
OP
|
1,172.54
|
1,296.71
|
-10
|
2,236.53
|
2,348.24
|
-5
|
5,248.69
|
4,699.54
|
12
|
|
Other Inc.
|
87.93
|
75.87
|
16
|
212.11
|
144.44
|
47
|
297.73
|
359.08
|
-17
|
|
PBIDT
|
1,260.47
|
1,372.58
|
-8
|
2,448.64
|
2,492.68
|
-2
|
5,546.42
|
5,058.62
|
10
|
|
Interest
|
81.1
|
79.44
|
2
|
158.95
|
159.47
|
0
|
317.33
|
335.95
|
-6
|
|
PBDT
|
1,179.37
|
1,293.14
|
-9
|
2,289.69
|
2,333.21
|
-2
|
5,229.09
|
4,722.67
|
11
|
|
Depreciation
|
192.21
|
193.58
|
-1
|
383.45
|
385.19
|
0
|
768.46
|
784.09
|
-2
|
|
PBT
|
987.16
|
1,099.56
|
-10
|
1906.24
|
1948.02
|
-2
|
4460.63
|
3938.58
|
13
|
|
Share of Profit/(Loss) from Associates
|
48.12
|
0.49
|
999
|
89.94
|
36.91
|
144
|
98.65
|
18.93
|
421
|
|
PBT before EO
|
1035.28
|
1100.05
|
-6
|
1996.18
|
1984.93
|
1
|
4559.28
|
3957.51
|
15
|
|
EO Income
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
|
PBT after EO
|
1035.28
|
1100.05
|
-6
|
1996.18
|
1984.93
|
1
|
4559.28
|
3957.51
|
15
|
|
Taxation
|
249.55
|
282.44
|
-12
|
485.62
|
497.26
|
-2
|
1121.17
|
1018.28
|
10
|
|
PAT
|
785.73
|
817.61
|
-4
|
1510.56
|
1487.67
|
2
|
3438.11
|
2939.23
|
17
|
|
Minority Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net profit
|
785.73
|
817.61
|
-4
|
1510.56
|
1487.67
|
2
|
3438.11
|
2939.23
|
17
|
|
EPS (Rs)*
|
#
|
#
|
|
#
|
#
|
|
22.9
|
19.6
|
|
|
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
|
|