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Regd off: World Trade Centre, 1st Flr, Babar Rd, Barakhamba Lane, New Delhi-1
PETRONET LNG LIMITED E-Mail: investors@petronetlng.com
Web site: www.petronetlng.com
Telephone: (011) 2341 3616 Fax: (011) 2341 4271
ENERGY SOURCES MISCELLANEOUS Tr agent: Karvy Computershare, Vittal Rao Nagar, Hyderabad - 81
Chairman: R. S. Pandey SEC: R. K. Garg AUD: V. Sankar Aiyar & Co.
Yr of Inc B. Code BL. Code F.V. Price % ch 1-m % ch 12-m P/E P/CF Yield Mkt cap Vol. ISIN
1998 532522 PLNG:IN 10 73.0 3.0 23.7 10.6 8.8 2.4 54,712.5 1,875.0 INE347G01014
SHAREHOLDING FX Transaction (FY09) ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters : 50.0% Exports (fob) Rs m 0
Foreign collaborators : 0.0% Imports (cif) Rs m 73,077 (Rs)
Indian inst/Mut Fund : 2.0% Fx inflow Rs m 6 160
FIIs/GDR : 9.4% Fx outflow Rs m 74,311 DAILY
Free float : 38.6% Net fx Rs m -74,305
Shareholders : 533,654 100 DMA
120
No. of months 12 12 12
Year ending 31/03/07 31/03/08 31/03/09
EQUITY SHARE DATA
80
High Rs 68 122 85
Low Rs 36 41 30
Sales per share Rs 73.5 87.4 112.4
Earnings per share Rs 4.2 6.3 6.9 40
Cash flow per share Rs 5.5 7.7 8.3
Dividends per share Rs 1.25 1.50 1.75
Dividend yield (eoy) % 2.4 1.8 3.0
0
Book value per share Rs 17.0 21.6 26.4
Shares outstanding (eoy) m 750.00 750.00 750.00 Aug-06 May-07 Feb-08 Nov-08 Aug-09
Bonus/Rights/Conversions - - -
Price / Sales ratio x 0.7 0.9 0.5 No. of months 12 12 12
Avg P/E ratio x 12.4 12.9 8.3 Year ending 31/03/07 31/03/08 31/03/09
CASH FLOW
P/CF ratio (eoy) x 9.4 10.6 6.9
Price / Book Value ratio x 3.1 3.8 2.2 From Operations Rs m 5,563 8,511 2,874
Dividend payout % 29.9 23.7 25.3 From Investments Rs m -4,900 -8,235 -4,726
Avg Mkt Cap Rs m 39,000 61,125 43,125 From Financial Activity Rs m 236 -95 4,845
No. of employees `000 <500 <500 <500 Net Cashflow Rs m 899 181 2,992
Total wages/salary Rs m 121 210 196
Avg. sales/employee Rs Th 229,541.7 268,659.8 329,246.1 INTERIM RESULTS
Avg. wages/employee Rs Th 504.2 860.7 765.6 2QFY09 3QFY09 4QFY09 1QFY10
Avg. net profit/employee Rs Th 13,054.2 19,454.9 20,250.0 Net sales Rs m 16,549 24,730 26,549 26,124
Gross profit Rs m 1,822 1,854 3,417 1,818
INCOME DATA Gross profit margin % 11.0 7.5 12.9 7.0
Net Sales Rs m 55,090 65,553 84,287 Net profit Rs m 1,033 1,050 2,043 1,033
Other income Rs m 366 536 765 Net profit margin % 6.2 4.2 7.7 4.0
Total revenues Rs m 55,456 66,089 85,052
Gross profit Rs m 6,407 8,580 8,879 KEY DATA
Depreciation Rs m 1,020 1,022 1,025 Parameters Unit FY07 FY08 FY09
Interest Rs m 997 942 879 Installed capacity MMTPA 5 5 5
Profit before tax Rs m 4,756 7,152 7,740 Production MMTPA 6 6 6
Minority Interest Rs m 0 0 0 LNG Purchased TBTU 293 324 333
Prior Period Items Rs m 0 0 0 RLNG Sold TBTU 287 322 321
Extraordinary Inc (Exp) Rs m 0 0 0 Capacity utilisation % 112 126 126
Tax Rs m 1,623 2,405 2,556
NOTES
Profit after tax Rs m 3,133 4,747 5,184
Gross profit margin % 11.6 13.1 10.5 Petronet LNG (PLL) is promoted by BPCL, ONGC, GAIL and IOC. It is engaged in
Effective tax rate % 34.1 33.6 33.0 the business of regasification of LNG. The strategic location of its Dahej terminal
helps to satisfy the enormous demand from power, fertilizer and other users located
Net profit margin % 5.7 7.2 6.2
in western, central and northern India. PLL has a single source of long-term LNG
BALANCE SHEET DATA supply - RasGas and only three off-takers- GAIL, IOC and BPCL. It supplements
supplies with spot cargoes and is scouting for them from Algeria, Oman, Abu Dhabi
Current assets Rs m 10,883 8,507 18,097 and Egypt.
Current liabilities Rs m 5,877 5,619 8,922
Net working cap to sales % 9.1 4.4 10.9 In FY09, Petronet LNG clocked sales volume of 321 trillion British thermal units
Current ratio x 1.9 1.5 2.0 (tBtu), marginally lower than FY08 sales. Petronet recently doubled the capacity of its
Inventory Turnover Days 14 5 17 Dahej terminal to 10 m tonnes per annum (mtpa). It is building another 2.5 m tonnes
Debtors Turnover Days 22 19 29 a year plant at Kochi. The company gets 5 m tonnes a year from RasGas under a
Net fixed assets Rs m 21,273 26,293 33,156 long-term LNG deal and that will be raised to 7.5 m tonnes from the last quarter of
Share capital Rs m 7,500 7,500 7,500 2009. It will receive 6 additional cargoes from RasGas this year in addition to the
"Free" reserves Rs m 5,255 8,685 12,334 long-term and short-term contracts. It has also been trying to procure supplies from
Australia's Gorgon project and from Papua New Guinea.
Net worth Rs m 12,755 16,185 19,834
Long term debt Rs m 13,707 15,776 22,817 The availability of domestic natural gas is expected to go up in the long term.
Total assets Rs m 34,936 40,273 54,295 Imported LNG is a more expensive option compared to domestic natural gas
Interest coverage x 5.8 8.6 9.8 transported by pipeline. However, LNG will remain an attractive option if the timing
Debt to equity ratio x 1.1 1.0 1.2 and quantum of new domestic supplies spreads out over the next few years giving
Sales to assets ratio x 1.6 1.6 1.6 sufficient time for domestic demand to catch up. Moreover, the company plans to
Return on assets % 15.6 17.8 14.2 import only if it has back-to-back sell agreements.
Return on equity % 24.6 29.3 26.1
Return on capital % 21.7 25.3 20.2
Exports to sales % 0.0 0.0 0.0
Imports to sales % 84.4 82.7 86.7
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