2 days Ago
Geojit Financial Services has an accumulate call on Petronet LNG with a target price of Rs 393. The current market price of Petronet LNG is Rs 339.15.
Petronet LNG, incorporated in 1998, is a Large Cap company with a market cap of Rs 50842.50 crore, operating in Gas & Petroleum sector. Petronet LNG's key products/revenue segments include Liquified Natural Gas, Other Services and Other Operating Revenue for the year ending 31-Mar-2024.
Financials For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 13225.94 crore, down -2.70% from last quarter total Income of Rs 13592.
84 crore and up 4.25% from last year same quarter Total Income of Rs 12686.18 crore.
The company has reported net profit after tax of Rs 848.99 crore in latest quarter. The company's top management includes Mr.
Pankaj Jain, Mr.G Krishnakumar, Mr.Sandeep Kumar Gupta, Mr.
Milind Torawane, Mr.Arun Kumar Singh, Mr.Muker Jeet Sharma, Mr.
Sanjeev Mitla, Ms.Bhaswati Mukherjee, Mr.Raian Nogi Karanjawala, Mr.
Sundeep Bhutoria, Mr.Pramod Narang, Mr.V K Mishra, Mr.
Akshay Kumar Singh, Mr.S M Vaidya. Company has T R Chadha & Co.
as its auditors. As on 30-09-2024, the company has a total of 150 Crore shares outstanding. Stock Trading Masterclass on Value Investing and Company Valuation By - The Economic Times, Get Certified By India's Top Business News Brand View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.
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The expansion project at the Dahej terminal, slated for completion by March 2025, would increase its capacity by 5 MMTPA. Meanwhile, the resolution of the Kochi terminal's pipeline connectivity issue, expected by March/April 2025, is expected to boost its utilisation levels and drive demand from city gas distribution projects in southern Indian cities. Furthermore, progress on the petrochemical project and the expected improving utilisation at both terminals should support margins.
Hence, we reiterate ACCUMULATE rating on the stock, with a revised target price of Rs 393, based on 14.1x FY26E adjusted EPS. Promoter/FII Holdings Promoters held 50 per cent stake in the company as of 30-Sep-2024, while FIIs owned 27.
31 per cent, DIIs 11.79 per cent. (You can now subscribe to our ETMarkets WhatsApp channel ).
