Petronet LNG Ltd
Petronet LNG Q3 FY25 earnings call: Revenue & Margins
Q3 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
Highest ever throughput recorded in the past nine months with total throughput at Dahej increasing from 646 TBTU to 686 TBTU year-on-year. Management expects throughput utilization at Dahej terminal to remain high in FY '26, targeting 95-100%, supporting stable volume growth.
From Petronet LNG Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Highest ever throughput recorded in the past nine months with total throughput at Dahej increasing from 646 TBTU to 686 TBTU year-on-year.
- Utilization of LNG terminal capacity currently around 93%, expected to stabilize between 95%-100% going forward.
- Expansion of Dahej terminal by 5 million tons imminent; initial capacity booking expected to be 40%-50% in FY '26 with potential ramp-up to 60%-70% in FY '27 based on market conditions.
- Expectation to fully utilize expanded terminal capacity in the next fiscal year.
- Spot LNG prices projected to moderate from current $12-$14 to $7-$8 after 2027-28 due to increased global LNG supply, potentially boosting demand and volumes.
- Kochi terminal utilization anticipated to rise from current 20%-25% to 40%-50% within next 2 years following pipeline connectivity to national gas grid.
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Profitability & Margins
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Capital Expenditure Plans
- FY 2023-24 Capex: Approximately INR 1,400 to 1,500 crore, with INR 976 crore spent in nine months.
- FY 2025-26 Capex: Planned INR 3,000 to 3,500 crore primarily for the petrochemical complex.
- Total Capex (including non-petrochemical): Estimated INR 4,000 to 4,500 crore.
- Major ongoing non-petrochemical Capex: INR 1,000 crore focused on projects like the third jetty with total contract value around INR 1,904 crore.
- Petrochemical project timeline: Scheduled for commissioning by November 2027, expected operational by 2028.
- Petrochemical Capex ramp-up: Initially 15%-20% in FY 25-26, increasing to 30%-35% in subsequent years.
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Top-ranked in Gas
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- The company is currently in the tendering process for placing orders related to the petrochemical complex.
- Most long lead items for the petrochemical project have been finalized, and orders for large extending items will be placed soon.
- A consultant has been invited to assist with the project, and financial closure for the project financing (aiming for a 70:30 debt-equity mix) is expected within the next 3-4 months.
- Initial Capex for FY 25-26 on the petrochemical complex is projected to be around INR 3,000 crore to INR 3,500 crore.
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Petronet LNG Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹9.4K Cr, net profit ₹1.4K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Petronet LNG Ltd's management said in earlier quarters
Others in Gas this season
- Gujarat Energy Ltd (Q3 FY25)
CNG sales are growing strongly: 11% YoY in Gujarat, 26% YoY outside Gujarat, overall 12% annual growth. Key concall takeaways from Gujarat Energy Ltd's Q3 FY25…
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Frequently Asked Questions
What were Petronet LNG Ltd Q3 FY25 results?
Highest ever throughput recorded in the past nine months with total throughput at Dahej increasing from 646 TBTU to 686 TBTU year-on-year. Management expects throughput utilization at Dahej terminal to remain high in FY '26, targeting 95-100%, supporting stable volume growth.
What is Petronet LNG Ltd share price analysis?
Petronet LNG Ltd currently shows a neutral. The stock trades at a P/E of 10.1 with a market cap of ₹42,390 Cr. Investors should review the full earnings analysis for detailed insights.
Is Petronet LNG Ltd planning capital expenditure?
FY 2023-24 Capex: Approximately INR 1,400 to 1,500 crore, with INR 976 crore spent in nine months.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.