Accumulate Petronet LNG; target of Rs 249: Dolat Capital

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26 Aug, 2025 12:21

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Dolat Capital's research report on Petronet LNG

Petronet LNG (PLNG) numbers were in line with our estimates on profitability front. Revenue was ahead of estimates due to higher gas cost. Volumes were at 217 TBTU for Q2FY19. Dahej terminal continues to operate at 110% capacity utilization. Kochi terminal utilization remains low and is only expected to improve post completion of Kochi – Mangalore pipeline. With gradual capacity addition and increase in re-gasification margins, PLNG is bound to ride the gas demand evolution of India. We feel that stock should see next round of re-rating post completion of pipelines for Kochi terminal and the margin profile evolvement in H2FY19.

Outlook

We reiterate our Accumulate recommendation with a target price of ` 249

For all recommendations report, click here

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