India · Delayed Price · Currency is INR Petronet LNG Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw strong operational and financial results, with higher LNG volumes and improved terminal utilization. Major CapEx is planned for petrochemicals and terminal expansions, while long-term contracts and healthy cash balances support stable dividends.
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Q2 FY26 saw a 5% drop in net profit and 15% lower revenue, with Kochi terminal utilization at a record 27%. Dahej expansion is delayed to March 2026, and major CapEx is planned for H2 FY26, with strong cash reserves and continued dividend payouts.
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Q1 FY26 saw sequential operational growth but year-over-year profit and volume declines due to sectoral demand softness. Major investments in the Gopalpur terminal and PETCHEM projects are underway, with robust CAPEX plans and financing initiatives to support future growth.
Fiscal Year 2025
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Record annual profits and volumes were achieved, with strong Q4 results despite temporary volume declines due to market factors. Major long-term contracts were renewed, capacity expansions are on track, and robust demand growth is expected to support high utilization and continued financial strength.
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Nine-month throughput and profits reached record highs, with Dahej expansion set for June and 40%-50% initial capacity booking expected. CapEx for petrochemicals is ramping up, and spot LNG prices are forecast to decline post-2027 as global supply grows.
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Q2 FY25 saw higher YoY throughput and profit, with Dahej utilization at 98% and Kochi at 22%. Dahej expansion and new storage tanks are on track, and moderate LNG prices are expected to sustain high utilization. Petchem and infrastructure projects are progressing, with robust capital allocation.
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Record quarterly throughput and utilization drove all-time high Q1 profits, supported by stable LNG prices and operational efficiency. Major CapEx projects, including Dahej expansion and Petchem, are progressing well, with robust demand outlook and improved connectivity expected to boost future utilization.