Geojit recommended has given Is bullish on Petronet LNG has recommended buy recommendation for Petronet LNG with a target price of Rs. 254 in its research report issued on Feb 15, 2022

Geojit’s research report on Petronet LNG

Petronet LNG was formed by the Indian government to import liquefied natural gas (LNG) and set up LNG terminals in India. The company operates two regasification terminals situated in Dahej (17.5 MMTPA installed capacity) and Kochi (5 MMTPA). Consolidated revenue up 16.5% QoQ (+71.9% YoY) in Q3FY22, driven by higher prices and volume growth. EBITDA rose 33.6% QoQto Rs. 1,732cr (+29.7% YoY), as EBITDA margin expanded 170bps QoQ to 13.7% (-450bps YoY) on higher realisations. Subsequently, PAT grew 41.8% QoQ to Rs. 1,159cr (+31.5% YoY). Strong demand for natural gas, limited competition, capacity expansion, better operational efficiencies and efficient commercial management should drive company performance in future.


We thereby reiterate our BUY rating on the stock with a rolled forward TP of Rs. 254 based on 11x FY24E adj. EPS.

More Info on Trent

At 17:30 Petronet LNG was quoting at Rs 218.05, up Rs 2.05, or 0.95 percent.

It has touched an intraday high of Rs 219.00 and an intraday low of Rs 216.80.

It was trading with volumes of 77,268 shares, compared to its thirty day average of 93,501 shares, a decrease of -17.36 percent.

In the previous trading session, the share closed down 0.07 percent or Rs 0.15 at Rs 216.00.

The share touched its 52-week high Rs 260.90 and 52-week low Rs 206.70 on 25 February, 2021 and 25 January, 2022, respectively.

Currently, it is trading 16.42 percent below its 52-week high and 5.49 percent above its 52-week low.

Market capitalisation stands at Rs 32,707.50 crore.

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