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Change Change %
-2.65 -1.11%

Updated:23 Apr, 2018, 15:58 PM IST

Change Change %
-2.15 -0.90%

Updated:23 Apr, 2018, 16:01 PM IST

Research Report Detail

Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Motilal Oswal
26-09-2017 Buy 233.40 275.00
Target Hit Long (1Y)

Motilal Oswal maintains buy on Petronet LNG

Our channel checks suggest more than full utilization at Dahej and marginally increased throughput at the Kochi LNG terminal. We continue believing that increased domestic gas production and upcoming competition would not be a significant risk to utilization. PLNG is likely to continue gradual capacity addition at Dahej terminal to benefit from the evolving LNG opportunity in India. We expect its total capacity to reach 22.5mmtpa by FY20. Firm offtake contracts at Dahej terminal and ramp-up of Kochi terminal would enable PLNG to post volume CAGR of 10% over FY17-20. We do not assume any escalation in Kochi re-gas charge 2018 onward. Assured volume growth and tariff hikes would help PLNG to post 16%/17% EBITDA/PAT CAGR over FY17-20.

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