PETRONET LNG LIMITED - FIRST QUARTER RESULTS - Q1 FY 2013 - NET SALES UP51.25% YoY; NET PROFITS UP 5.51%YoY; FUTURE PLANS IMPRESSIVE

PETRONET LNG LIMITED

FIRST QUARTER RESULTS

Q1 FY 2013

Petronet LNG is formed as a Joint Venture by the Government of India to import LNG and set up LNG terminals in the country, it involves India's leading oil and natural gas industry players. Its promoters are GAIL (India) Limited , Oil & Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). Public shareholding in the company is 50%.

Petronet LNG’s results for Quarter ending June 2012 are in the table below  (Rs.in Lakhs):

As we can see, Net Sales have risen 10.6% QoQ and 51.25% YoY – which is very impressive.

Net profit has risen by 15.14%QoQ but only by 5.51% YoY, due to Higher all round expenditure.

The 52 week high/low price : 185.80/122.00

Current MP = Rs.147. Annualised EPS is around 14.44.PE is around 10.18. Its Kochi terminal is expected to be operational in about 5 months. So, higher sales will result from the Kochi Terminal during current year (FY 13) fourth quarter onwards.

Petronet LNG	30-Jun-12	31-Mar-12	QoQ dif%	30-Jun-11	YoY Dif %
Net Sales	699292	632277	10.6	462330.5	51.25
Total Expenditure	661923	599823	10.35	423096.64	56.45
Profit  before Interest, Dep. & Taxes	37369	32454	15.14	39233.86	-4.75
Net Profit	27085	24512	10.5	25670.71	5.51
Diluted EPS	3.61	3.27	10.4	3.42	5.56
Net Sales	699292	632277	10.6	462330.5	51.25
Cost of materials	643280	593930	8.31	413305.87	55.64
Other expenses	13343	233	5626.61	4570.82	191.92
Total expenses	661923	599823	10.35	423096.64	56.45
Profit before tax	40485	36512	10.88	37220.71	8.77
Tax Expenses	13400	12000	11.67	11550	16.02
Net Profit	27085	24512	10.5	25670.71	5.51
Face Value of Share (in )	10	10	0	10	0
Paid-up Equity	75000	75000	0	75000	0
Diluted EPS	3.61	3.27	10.4	3.42	5.56
Public Shareholding (%)	50	50	0	50	0

NEWS ABOUT PLL :

Petronet LNG Limited and Gangavaram Port Limited sign term sheet for developing LNG Terminal at Gangavaram Port in Andhra Pradesh :  Dated 02 May 2012

Petronet LNG Limited (PLL) and Gangavaram Port Limited (GPL) signed a firm and binding term sheet for developing a land based Liquified Natural Gas (LNG) Terminal at Gangavaram Port, Andhra Pradesh with a capacity of 5.0 Million Metric Tonnes Per Annum (MMTPA).

The LNG Terminal at Gangavaram Port will comprise of facilities for receiving, storage and regasification of LNG and will be developed with an approximate investment of Rs 4500 Crores. This will be the third LNG terminal of PLL, the other two being – an operational 10.0 MMTPA terminal at Dahej, Gujarat and 5.0 MMTPA terminal at Kochi, Kerala which is likely to become operation in next six months. The terminal at Gangavaram Port will have the provision for further expansion like the flag-ship Dahej LNG Terminal of PLL.

The Gangavaram LNG Terminal will help meet the growing energy demand of the State of Andhra Pradesh and will also cater to the increasing gas requirements of eastern and central part of India. At its full operational capacity the terminal is likely to contribute over Rs. 2,000 crores as Value Added Tax ("VAT") to the State Government of Andhra Pradesh.

Speaking on the occasion, Dr. Balyan, MD & CEO, PLL said, "The construction work on the terminal is expected to start within a year and it shall be ready to commence operations by the Year 2016. We are eager to have our presence on the east coast and are exploring various possible options to bring gas earlier than 2016 at Gangavaram Port."

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PETRONET LNG LTD = Q4 & FY 2012 = Good improvement

Petronet LNG Limited

Audited Financial Results for the quarter / year ended 31st March 2012 (Rs in lacs)

S	Particulars	Quarter Ended			Year Ended
No		31/Mar/12	31/Dec/11	31/Mar/11	31/Mar/12	31/Mar/11
1	Income from operations (a) Net sales/income from operations (net of excise duty) (b) Other operating income	632,277 5,266	625,762  7,264	394,055 4,542	2,245,065 24,521	1,310,575 9,154
	Total income from operations (net)	637,543	633,026	398,597	2,269,586	1,319,729
	Total expenses	599,823	586,850	367,115	2,105,081	1,215,138
3 4	Profit from operations Other income	37,720  2,211	46,176 1,640	31,482  2,281	164,505 8,488	104,59 1 5,392
5 6	Profit before finance costs (3+4) Finance costs	39,931  3,419	47,816  3,927	33,763  4,356	172,993 17,739	109,983 19,341
7 8	Profit before tax (5 - 6) Tax expense	36,512 12,000	43,889  14,350	29,407  8,780	155,254 49,500	90,642 28,680
9	Net Profit for the period (7 - 9)	24,512	29,539	20,627	105,754	61,962
10 11 12	Paid-up equity EPS a) Basic  b) Diluted	75,000  3.27  3.27	75,000  3.94  3.94	75,000  2.75 2.75	75,000  14.10  14.10	75,000 8.26 8.26

As can be  seen from the above, Annual EPS for FY 12 has grown to Rs.14.10 against Rs.8.26 in FY 11.

Current Market price of Petronet LNG stands at Rs.129; while the 52 week high price  is Rs.185.80 and the 52 week low price is Rs.122. – on a Face value of Rs.10.

On this Basis, the PE Ratio comes to 9.15.

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Petronet LNG Limited - QTRLY RESULTS - Q3 FY 2012 - 3rd Q/E DEC,2011 - NET SALES UP 74.5%; NPT UP 73% YoY

Petronet LNG Limited

NSE Symbol        PETRONET

PETRONET LNG has turned in a much improved performance in Q3 FY 2012 ending Dec, 2011.

Net Sales stands at Rs.6330.26 Cr in Q3 FY 12  -  up by 17.95% from Q2 FY 12 and up by a Huge  74.5% from Q3 FY 2011.

Raw Materials stands at Rs.5700.58 Cr in Q3 FY 12 – up by  18.42% from Q2 FY 12 and up by  76% from Q3 FY 11.

Total Expenditure stands at Rs.5873.30 Cr  in Q3 FY 12 – up by 18.3% from Q2 FY 12; And up by 76.45% from Q3 FY 11.

Profit from Operations      has gone up to Rs.456.96 Cr  in Q3 FY 12 – up by  13.66% from Q2 FY 12; and up by 52.76% from Q3 FY 11.

After adjusting Other income and Interest Expense, the Profit  before tax stands at Rs.438.88 Cr in Q3 FY 12 – up by 16.62% from Q2 FY 12; and up by  72.9% from Q3 FY 11.

Tax expense stands at Rs.143.50 cr in Q3 FY 12  – up by  23.71% from q2 FY 12; and up by   72.89% from Q3 FY 11.

Net Profit stands at Rs.295.38 Cr in Q3 FY 12 – compared to Rs.260.33 Cr (Up by 13.46%) in Q2 FY 12 and Rs.170.84 Cr in Q3 FY 11 (Up by 72.9%)

On a FV of Rs.10, the Basic EPS stands at Rs.3.94 in q3 FY 12; Rs.3.47 in Q2 FY 12; Rs.3.42 in Q1 FY 12; Rs.2.75 in Q4 FY 12; and Rs.2.28 in Q3 FY 11.

The annual EPS is likely to be around Rs.14.77.

Current Market price is Rs.162.80 -  While the 52 week high price is Rs.185.80 and the 52 week low price  is Rs.105.10.

The PE Ratio is 11.02.

RESULTS TABLE

PETRONET LNG	31-Dec-11	30-Sep-11	%DIF1	30-Jun-11	31-Mar-11	31-Dec-10	%DIF2
Net Sales	633025.8	536687.1	17.95	462330.5	398596.8	362763.9	74.5
Raw Materials	570058.1	481379.8	18.42	413305.9	357429.7	323891.3	76
Employees Cost	640.19	615.81	3.96	641.03	1220.55	572.5	11.82
Depreciation	4628.98	4629.95	-0.02	4578.92	4545.19	4647.95	-0.41
Other Expenditure	12002.94	9856.5	21.78	4570.82	4816.23	3739.08	221.01
Total Expenditure	587330.3	496482	18.3	423096.6	368011.7	332850.8	76.45
Profit from Operations	45695.59	40205.05	13.66	39233.86	30585.1	29913.12	52.76
Other Income	1639.68	2011.43	-18.48	2625.18	3136.18	541.18	202.98
Interest	3446.86	4583.36	-24.8	4638.33	4313.78	5069.93	-32.01
Profit  before tax	43888.41	37633.12	16.62	37220.71	29407.5	25384.37	72.9
Tax expense	14350	11600	23.71	11550	8780	8300	72.89
Net Profit	29538.41	26033.12	13.46	25670.71	20627.5	17084.37	72.9
Face Value (In Rs	10	10	0	10	10	10	0
Paid Up Equity	75000	75000	0	75000	75000	-
Basic EPS	3.94	3.47	13.54	3.42	2.75	2.28	72.81
Public holding (%)	50	50	0	50	50	50	0

ANNOUNCEMENTS

BY PETRONET LNG

27-01-2012        Petronet LNG Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2011 as follows: Net Sales of Rs. 633025.84 lacs for quarter ending on 31-DEC-2011 against Rs. 362763.91 lacs for the quarter ending on 31-DEC-2010. Net Profit / (Loss) of Rs. 29538.41 lacs for the quarter ending on 31-DEC-2011 against Rs. 17084.37 lacs for the quarter ending on 31-DEC-2010. 

12-12-2011        Petronet Lng has approved the expansion of Dahej Terminal from 10 MMTPA to 15 MMTPA.

14-11-2011        press release dated November 14, 2011, titled "Petronet LNG and GDF SUEZ conclude a 0.6 million tons of LNG contract".

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