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Petronet LNG consolidated
net sales increased 24.31% to Rs 13873.93 crore in Q4FY23 compared to
Q4FY22. Operating profit margin has
declined from 10.47% to 6.79%, leading to 19.35% decline in operating profit to
Rs 942.53 crore. Raw material cost as a
% of total sales (net of stock adjustments) increased from 87.66% to
91.09%. Employee cost decreased from
0.39% to 0.25%. Other expenses rose
from 1.48% to 1.87%.
During the current quarter
ended 31st March, 2023, Dahej terminal processed 172 TBTU of LNG as against 154
TBTU during the previous quarter ended 31st December, 2022 and 178 TBTU during
the corresponding quarter ended 31st March, 2022. The overall LNG volume
processed by thecCompany in the current quarter was 185 TBTU, as against the
LNG volume processed in the previous and corresponding quarters, which stood at
167 TBTU and 190 TBTU respectively.
Other income rose 61.39% to
Rs 131.32 crore. PBIDT fell 14.09% to Rs
1073.85 crore. Provision for interest
rose 12.36% to Rs 90.21 crore.
PBDT fell 15.91% to Rs
983.64 crore. Provision for depreciation
fell 0.56% to Rs 188.57 crore.
Profit before tax down
18.88% to Rs 795.07 crore. Share of
profit/loss was 39.57% lower at Rs 27.56 crore.
Provision for tax was expense of Rs 203.83 crore, compared to Rs 234.71
crore. Effective tax rate was 24.78%
compared to 22.88%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company decreased 21.77% to Rs 618.80 crore.
Equity capital stood at Rs
1,500.00 crore as of 31 March 2023 to Rs 1,500.00 crore as of 31 March
2022. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 31 March 2023 compared to 50.00% as of 31 March 2022.
Full year results analysis
Net sales of Petronet LNG
have increased 38.76% to Rs 59899.35 crore.
Operating profit margin has declined from 12.16% to 8.10%, leading to
7.52% decline in operating profit to Rs 4,853.96 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 85.89% to 90.07%. Employee cost decreased from 0.41% to 0.28%.
During the current
financial year ended 31st March, 2023, Dahej terminal processed 704 TBTU of LNG
as against 793 TBTU processed during the previous financial year ended 31st
March, 2022. The overall LNG volume processed by the Company in the current
financial year was 752 TBTU, as against the LNG volume processed in the
previous financial year, which stood at 847 TBTU.
Other income rose 75.69% to
Rs 523.07 crore. PBIDT fell 3.05% to Rs 5377.03
crore. Provision for interest rose 4.15%
to Rs 330.51 crore. Loan funds declined
from Rs 3,438.50 crore as of 31 March 2022 to Rs 3,345.01 crore as of 31 March
2023. Inventories rose to Rs 1,153.05
crore as of 31 March 2023 from Rs 576.68 crore as of 31 March 2022. Sundry debtors were higher at Rs 3,839.70
crore as of 31 March 2023 compared to Rs 2,684.44 crore as of 31 March
2022. Cash and bank balance rose to Rs
5,685.79 crore as of 31 March 2023 from Rs 4,326.27 crore as of 31 March
2022. Investments rose to Rs 1,368.33
crore as of 31 March 2023 from Rs 1,285.94 crore as of 31 March 2022 .
PBDT fell 3.49% to Rs
5046.52 crore. Provision for
depreciation fell 0.54% to Rs 764.34 crore.
Fixed assets increased to Rs 9,913.34 crore as of 31 March 2023 from Rs
9,749.62 crore as of 31 March 2022.
Intangible assets increased from Rs 0.20 crore to Rs 2.85 crore.
Profit before tax down 4%
to Rs 4,282.18 crore. Share of
profit/loss was 39.91% higher at Rs 138.02 crore. Provision for tax was expense of Rs 1094.38
crore, compared to Rs 1121.17 crore.
Effective tax rate was 24.76% compared to 24.59%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company decreased 3.27% to Rs 3,325.82
crore.
Equity capital stood at Rs
1,500.00 crore as of 31 March 2023 to Rs 1,500.00 crore as of 31 March
2022. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 31 March 2023 ,compared to 50.00% as of 31 March 2022.
Cash flow from operating
activities decreased to Rs 2,569.02 crore for year ended March 2023 from Rs
3,468.78 crore for year ended March 2022.
Cash flow used in acquiring fixed assets during the year ended March
2023 stood at Rs 1,057.71 crore, compared to Rs 72.32 crore during the year
ended March 2022.
The Board of Directors of
the Company has approved final dividend of Rs 3.00 per share.
The scrip is trading at Rs 236
at BSE
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Petronet LNG : Consolidated
Results
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Particulars
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2303 (03)
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2203 (03)
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Var.(%)
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2303 (12)
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2203 (12)
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Var.(%)
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Net Sales
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13,873.93
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11,160.37
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24
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59,899.35
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43,168.57
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39
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OPM (%)
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6.8
|
10.5
|
|
8.1
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12.2
|
|
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OP
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942.53
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1,168.63
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-19
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4,853.96
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5,248.69
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-8
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Other Inc.
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131.32
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81.37
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61
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523.07
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297.73
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76
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PBIDT
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1,073.85
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1,250.00
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-14
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5,377.03
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5,546.42
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-3
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Interest
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90.21
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80.29
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12
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330.51
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317.33
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4
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PBDT
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983.64
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1,169.71
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-16
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5,046.52
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5,229.09
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-3
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Depreciation
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188.57
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189.63
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-1
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764.34
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768.46
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-1
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PBT
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795.07
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980.08
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-19
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4282.18
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4460.63
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-4
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Share of Profit/(Loss) from Associates
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27.56
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45.61
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-40
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138.02
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98.65
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40
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PBT before EO
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822.63
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1025.69
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-20
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4420.2
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4559.28
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-3
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EO Income
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0
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0
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-
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0
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0
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-
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PBT after EO
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822.63
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1025.69
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-20
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4420.2
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4559.28
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-3
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Taxation
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203.83
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234.71
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-13
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1094.38
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1121.17
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-2
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PAT
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618.8
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790.98
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-22
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3325.82
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3438.11
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-3
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Minority Interest (MI)
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0
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0
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-
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0
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0
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-
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Net profit
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618.8
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790.98
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-22
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3325.82
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3438.11
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-3
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EPS (Rs)*
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#
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#
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22.17
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22.92
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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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