# Petronet LNG share price today (Petronet LNG Ltd, NSE: PETRONET)

> Petronet LNG share price today: ₹303.00 at the NSE close on 3 November 2026, up 7.7% in a year. Petronet LNG (NSE: PETRONET) is worth ₹45,372 crore, trades at a P/E of 10.8 and has closed between ₹246.20 and ₹323.40 over the past 52 weeks. > Petronet LNG Ltd's results are improving, while its P/E is near the low end of its own history over 10 years, higher than only 25% of past readings. PETRONET · Gas Distribution · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/petronet-lng-ltd

Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹303.00 (+7.7% in a year)
- P/E: 10.8× (lower than 75% of the last 10 years)
- Revenue (Jun 2026): ₹5,558 Cr (−53.2% on a year ago)
- Profit (Jun 2026): ₹1,137 Cr (+35.0% on a year ago)
- Operating margin: 28.0% (+18.0 points on a year ago)
- ROCE: 23%, FY26
- ROIC: 14.1%, against a 12.0% cost of capital: +2.1 points

Biggest thing to watch: the price has already been rising for 6 weeks, so timing is the risk more than the business. ## What is the Petronet LNG share price today? Petronet LNG Ltd's share price was ₹303.00 at the close on 3 November 2026. It has been rising for 6 weeks. That is 6.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹246 and ₹323, and at that close it sat 74% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 9 weeks in a row. Over the last 11 years the share price moved +160% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Petronet LNG this quarter? Two changes stood out: best operating margin in 15 quarters and revenue down on a year earlier for 7 quarters in a row. 1. Best operating margin in 15 quarters Operating margin was 28% in the June 2026 quarter, against 10% a year earlier. Why: The margin jumped mostly because the company made money from gas it already held and from trading, plus better commercial and operational efficiency, even though it handled less LNG. Next results: check whether the trading and inventory gains continue, since management says they depend on spot prices staying above long-term prices. From the earnings call on 13 Aug 2026. 2. Revenue down on a year earlier for 7 quarters in a row In the June 2026 quarter revenue was ₹5,558 crore, -53.2% on a year earlier. ## What dividend does Petronet LNG pay? Petronet LNG paid ₹10 a share in regular dividends in the 12 months to 4 November 2026 (2 payments), a yield of 3.30% at the ₹303.00 close on 3 November 2026. The last was a dividend of ₹3 a share, ex-date 12 June 2026. Next: ₹7 a share, ex-date 6 November 2026. ### Petronet LNG dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 6 Nov 2026 (upcoming) | ₹7 | Interim | same day |
| 12 Jun 2026 | ₹3 | Dividend | same day |
| 14 Nov 2025 | ₹7 | Interim | same day |
| 4 Jul 2025 | ₹3 | Dividend | same day |
| 8 Nov 2024 | ₹7 | Interim | same day |
| 12 Jul 2024 | ₹3 | Dividend | same day |
| 10 Nov 2023 | ₹7 | Interim | same day |
| 18 Aug 2023 | ₹3 | Dividend | same day |
| 21 Nov 2022 | ₹7 | Special | 22 Nov 2022 |
| 4 Jul 2022 | ₹4.50 | Dividend | 5 Jul 2022 |
| 17 Nov 2021 | ₹7 | Special | 19 Nov 2021 |
| 1 Jul 2021 | ₹3.50 | Dividend | 2 Jul 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Petronet LNG Ltd paid out 38% of its profit as dividends in FY26, and it paid a dividend in each of its last 12 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What are Petronet LNG's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Petronet LNG reported revenue of ₹5,558 crore, down 53.2% from ₹11,880 crore a year earlier, and a profit of ₹1,137 crore, up 35.0% from ₹842 crore. ### Petronet LNG results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹5,558 crore | ₹11,880 crore | −53.2% |
| Profit | ₹1,137 crore | ₹842 crore | +35.0% |
| Earnings per share | ₹7.58 | ₹5.61 | +35.1% |
| Operating margin | 28.0% | 10.0% | +18.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Petronet LNG's management discussed these results on a call held on 13 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Petronet LNG share price history? Petronet LNG closed at ₹303.00 on 3 November 2026, up 7.7% from ₹281.25 a year earlier (31 October 2025) and up 30.7% over five years. Its highest weekly close since February 2016 was ₹372.40 on 26 July 2024. ### Petronet LNG share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹286.30 | +5.8% |
| 1 month ago · 1 Oct 2026 | ₹285.50 | +6.1% |
| 6 months ago · 30 Apr 2026 | ₹276.76 | +9.5% |
| 1 year ago · 31 Oct 2025 | ₹281.25 | +7.7% |
| 3 years ago · 3 Nov 2023 | ₹196.05 | +54.6% |
| 5 years ago · 4 Nov 2021 | ₹231.75 | +30.7% |
| 10 years ago · 4 Nov 2016 | ₹180.20 | +68.1% |
| Earliest and lowest weekly close in our records · 26 Feb 2016 | ₹116.43 | +160.2% |
| Highest weekly close since February 2016 · 26 Jul 2024 | ₹372.40 | −18.6% |
| 52-week high (weekly close) · 27 Feb 2026 | ₹323.40 | −6.3% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹246.20 | +23.1% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on Petronet LNG? 6 Nov 2026: Coming up: ex-date for an interim dividend of ₹7 a share. 3 Nov 2026: Petronet LNG closed at ₹303.00, up 5.8% on the week and up 6.1% on the month. ### Earlier

- Our read, 10 Oct 2026: Replacement cargoes and new supply contracts cushion the Qatar disruption, but they have not restored terminal utilization.,Trading and inventory gains lifted earnings while revenue fell, so the latest profit improvement is not proof of a recurring volume recovery.,Historical cash generation supports the starting balance sheet; the next spending phase still needs a funding and returns bridge. - 13 Aug 2026: Petronet LNG held its results call for April to June 2026. Management guided: Qatar force majeure currently runs through end-August; long-term volumes expected to resume immediately or as soon as possible after Gulf conditions improve. - Results for April to June 2026: Revenue down 53.2% and profit up 35.0% on a year earlier. - 12 Jun 2026: ex-date for a dividend of ₹3 a share. - 14 Nov 2025: ex-date for an interim dividend of ₹7 a share. ### Our read of the business

Replacement cargoes and new supply contracts cushion the Qatar disruption, but they have not restored terminal utilization.,Trading and inventory gains lifted earnings while revenue fell, so the latest profit improvement is not proof of a recurring volume recovery.,Historical cash generation supports the starting balance sheet; the next spending phase still needs a funding and returns bridge. April to June 2026: Earnings improve while supply disruption depresses revenue and utilization. (Our read after the April to June 2026 results, written 10 October 2026.)

## What did Petronet LNG management say on the latest results call? On the call for April to June 2026, held on 13 August 2026, Petronet LNG's management guided: Qatar force majeure currently runs through end-August; long-term volumes expected to resume immediately or as soon as possible after Gulf conditions improve. > “The project is on schedule. As far as the pipeline connectivity with our Kochi terminal is concerned, according to the latest information that we have, it should still be mechanically completed by the end of this quarter. That is the best information that we have as of date.”
> Saurabh Mishra, Director Finance & CFO, on the call for April to June 2026

### What management guided

- Remaining-year utilization expected to be slightly better than Q1 as the May-June operating pace continues. - Kochi pipeline mechanically complete by the end of July to September 2026. - FY27 capital spending budgeted at ₹9,364 crore; FY28 capital spending framed at a similar level. - Off-taker renewal terms expected to close in 2-3 quarters, ahead of the new Qatar contract starting in 2028. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/4487/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 13 August 2026.)

## What is the future of Petronet LNG? What is changing in the business? What is changing at Petronet LNG, from the latest results and calls: replacement cargoes use available terminal capacity, new supply contracts contribute delivered volumes and kochi connectivity opens access to customers. - Replacement cargoes use available terminal capacity. Off-takers can replace interrupted supply through tolling and service cargoes. ⚠ estimate
- New supply contracts contribute delivered volumes. Commenced contracts offer a sourced route to replacement throughput. ⚠ estimate
- Kochi connectivity opens access to customers. Pipeline connection can convert spare terminal capacity into commercial throughput. ⚠ estimate
- Installed Dahej capacity offers conditional volume runway. Capacity is available, but utilization rather than construction is the next earnings constraint. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 10 October 2026.)

## What could change the Petronet LNG story? What are the risks? Repeated throughput and recurring service-profit growth that sustain the elevated earnings base after trading and inventory support normalizes would overturn the peak-margin warning. The conditional recovery thesis fails if replacement and contracted supply stop supporting throughput and subsequent reported quarters show falling operating profit as those gains fade, while Kochi remains unable to deliver commercial gas. ### Each change stops working if

- Replacement cargoes use available terminal capacity: Customers cannot source affordable replacement cargoes or move their cargoes to competing terminals. - New supply contracts contribute delivered volumes: Contracted cargo arrivals fail to continue or incremental cargoes merely displace existing service volumes. - Kochi connectivity opens access to customers: Mechanical completion does not lead to commercial gas flow, or customers cannot economically increase gas consumption. - Installed Dahej capacity offers conditional volume runway: Supply disruption, unaffordable LNG or competitive capacity prevents incremental terminal use. ### The main risks

- Qatar supply and Strait access: Terminal capacity cannot earn recurring fees without accessible cargoes. ⚠ estimate
- Capital spending funding and undisclosed project returns: Historical cash generation does not establish that the next spending phase is self-funded or earns returns above its cost of capital. ⚠ estimate
- Kochi completion does not become commercial utilization: The connectivity deadline is unverified and commercial throughput remains a separate milestone. ⚠ estimate
- Renewal economics and competitor response: Additional volumes may require concessions that reduce the profit retained by Petronet. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026.)

## What to watch in Petronet LNG's next results? When Petronet LNG reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Qatar cargo status and spot-long-term spread; check replacement throughput and trading/inventory support. - What to check (from the call)
- Qatar cargo status and spot-long-term spread; check replacement throughput and trading/inventory support. - Kochi pipeline mechanical completion by quarter-end; check whether connectivity lifts utilization. - Off-taker renewal discussions; check progress toward term closure and any change from the stated tariff status quo. - Petchem construction and remaining commercial contracts; check physical progress and capital spending deployment stay on schedule. ## Which stock lists is Petronet LNG on? Petronet LNG is on 6 of our India lists: Multibagger study list, Momentum stocks, Breakout stocks, Dividend stocks, Small & mid cap stocks and Oil & gas stocks. - [Multibagger study list Study stage: early](https://www.sectoralpha.in/multibagger-stocks-india)
- [Momentum stocks Market cap cr: 45142.5](https://www.sectoralpha.in/momentum-stocks-india)
- [Breakout stocks Breakout date: 9 October 2026](https://www.sectoralpha.in/breakout-stocks-india)
- [Dividend stocks Regular dividend yield (%): 3.32](https://www.sectoralpha.in/dividend-stocks-india)
- [Small & mid cap stocks Size rank in India: 209](https://www.sectoralpha.in/small-cap-stocks-india)
- [Oil & gas stocks Group on the list: Gas pipelines, LNG, city gas and LPG](https://www.sectoralpha.in/sectors/oil-and-gas-stocks-india)

## Is Petronet LNG profitable? Petronet LNG Ltd earned ₹1,137 Cr of net profit in the Jun 2026 quarter, +35.0% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹3,913 Cr. Over 10 years profit has grown 15.5% a year on average. That is 20.5% of the quarter's revenue. The same quarter a year earlier earned ₹842 Cr. For the full year, FY26 profit was ₹3,913 Cr (−1.5% on the year before). Why profit moved: revenue changed −53.2% on a year earlier and the margin moved +18.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +13.0% and revenue −25.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q4. revenue ₹9,442 Cr and profit ₹1,371 Cr as reported. FY27-Q1. revenue ₹5,558 Cr and profit ₹1,137 Cr as reported. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much revenue does Petronet LNG make, and is it growing? Petronet LNG Ltd reported ₹5,558 Cr of revenue in the Jun 2026 quarter, −53.2% on the same quarter a year earlier. Over 10 years it has grown 4.8% a year on average. The last full year, FY26, came in at ₹43,495 Cr. The last four reported quarters add to ₹37,173 Cr. FY26 revenue was ₹43,495 Cr, −14.7% on the year before. Recent pace: the last four quarters grew −25.2% on average, against 4.8% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −24.8%, against −17.4% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +13.4%, against +3.4% a year (accelerating). FY26-Q4. revenue ₹9,442 Cr and profit ₹1,371 Cr as reported. FY27-Q1. revenue ₹5,558 Cr and profit ₹1,137 Cr as reported. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Petronet LNG keep? Petronet LNG Ltd's operating margin was 28.0% in the Jun 2026 quarter, 18.0 percentage points higher than the same quarter a year ago. Across 12 years it has been between 3.8% and 18.0%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +17.9 percentage points on the year while gross margin changed +20.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. FY26-Q4. revenue ₹9,442 Cr and profit ₹1,371 Cr as reported. FY27-Q1. revenue ₹5,558 Cr and profit ₹1,137 Cr as reported. Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## Is Petronet LNG's profit turning into cash? Over the last 3 years, 122% of Petronet LNG Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹4,750 Cr of operating cash against ₹3,913 Cr of profit. After ₹1,905 Cr of spending on assets, ₹2,845 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 122% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: the bigger use of cash is spending on new assets, at 1.7× depreciation over three years. The next section checks what that spending is building. ## Where does Petronet LNG's cash go? Petronet LNG Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 11 days in FY26, down from 14 days in FY21. It spent ₹4,050 Cr on assets over the last 3 years. Customers take 9 days to pay, and stock sits for 9 days on average. Why this happened. The Infrastructure Bottleneck Tollbridge model applies because customers can use installed capacity without waiting for new terminal construction. Replacement cargoes preserve some fee-producing activity. They are part of the same supply-recovery mechanism as new contracts, rather than an independent profit uplift to add again. The amount retained after sourcing costs and tariff concessions is not quantified. At FY26 sales of ₹43,495 Cr, each day of that cycle ties up about ₹119 Cr, so roughly ₹1,311 Cr is tied up in the business at any time. FY26: customers took 9 days to pay and stock sat for 9 days, about 0.3 months of sales sitting as stock, for a full cycle of 11 days, shorter than FY21's 14. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 9 days. Customers pay about 9 days after that. Suppliers are paid at 7 days. Together that makes the 11-day cycle. Spending on assets: ₹4,050 Cr over the last 3 years, against ₹2,421 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2,497 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Petronet LNG's P/E ratio, and how does it compare with its own history? Petronet LNG Ltd's P/E is 10.8×, near the low end of its own history: it has been lower only 25% of the time. Its usual P/E (the middle reading) is 12.7×, over 10 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −1.5% while the price moved +7.7%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +5.5% a year; about +6.3% a year came from earnings growth and about −0.8 percentage points from the multiple (roughly no change); over 10 years the price moved +5.3% a year; about +17.3% a year came from earnings growth and about −12.0 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Petronet LNG share price assume? Worked out from its price on 11 October 2026, Petronet LNG Ltd's share price assumed profit growth of about 3.1% a year. Over the past 10 years its profit actually grew 15.5% a year. Today its P/E is 10.8×, lower than 75% of its own last 10 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Petronet LNG business getting better or worse? Petronet LNG Ltd's business is giving mixed signals. Eps growth is rising at +13.5% while revenue growth is falling at −24.8%, so the lines disagree and each one tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Petronet LNG story, and has it been checked? Petronet LNG Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: EARLY EXPANSION. Our read, 10 October 2026. From the numbers. The operating engine separately identifies early expansion and the price curve identifies stage 2, three weeks into that stage. From the price. Price stage 2, week 6, above its 200-day line, relative strength rising. From the research. Where they disagree. The operating engine separately identifies early expansion and the price curve identifies stage 2, three weeks into that stage. What is proven. What is not proven yet. Repeated throughput and recurring service-profit growth that sustain the elevated earnings base after trading and inventory support normalizes would overturn the peak-margin warning. The conditional recovery thesis fails if replacement and contracted supply stop supporting throughput and subsequent reported quarters show falling operating profit as those gains fade, while Kochi remains unable to deliver commercial gas. What would change our mind. Repeated throughput and recurring service-profit growth that sustain the elevated earnings base after trading and inventory support normalizes would overturn the peak-margin warning. The conditional recovery thesis fails if replacement and contracted supply stop supporting throughput and subsequent reported quarters show falling operating profit as those gains fade, while Kochi remains unable to deliver commercial gas. The test written in advance. The test written in advance. Qatar supply and Strait access. Measured by: Qatar supply and Strait access Replacement volumes decline or Qatar cargoes remain interrupted without a credible alternative delivery schedule. by the next result. What the company does. Replacement cargoes and new supply contracts cushion the Qatar disruption, but they have not restored terminal utilization. Trading and inventory gains lifted earnings while revenue fell, so the latest profit improvement is not proof of a recurring volume recovery. Historical cash generation supports the starting balance sheet; the next spending phase still needs a funding and returns bridge. What the surface reading misses. The surface reading is: A higher profit and percentage margin could appear to signal a recurring operating improvement. The research reads it further: Sales contracted while operating profit rose. Management identifies trading and inventory contributions as the offset to lower volumes; a smaller sales denominator also raises the percentage margin. What the surface reading misses. The surface reading is: The profit increase and margin uplift could imply accelerating terminal earnings. The research reads it further: The quarter includes management-described settlement accounting, trading, inventory and lease-accounting effects; the volume disruption began late in the period. Lever 12 · New product launch: building. Pipeline connection can convert spare terminal capacity into commercial throughput. What proves it keeps working: Kochi connectivity opens access to customers. It stops working if Mechanical completion does not lead to commercial gas flow, or customers cannot economically increase gas consumption. Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Petronet LNG management deliver what it promised? What Petronet LNG Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Qatar LNG Supply Timeline and Confidence Deteriorated · 13 August 2026. In May 2026, management expected Qatar supply to resume in time for the full annual delivery plan from the first week of June. In Aug 2026, management provided no opening date for the Strait of Hormuz and continued to describe the situation as uncertain; although ongoing geopolitical developments were cited, management did not reconcile why the earlier June expectation failed or provide a replacement timeline, which is material to throughput and utilization assumptions. Petrochemical Project FY26 Capex Shortfall · 5 May 2026. In the Feb 2026 call, management explicitly guided that total petchem cash outflow through end of FY26 would be approximately INR2,300 crores. The May 2026 call confirmed actual petchem capex for FY26 was only INR1,650 crores, a roughly 28% shortfall of approximately INR650 crores with no explanation provided. For shareholders tracking execution pace of the company's flagship growth project, this unaddressed gap raises questions about whether the petchem commissioning timeline remains on schedule. Gopalpur Construction Pulled into FY27 · 5 May 2026. In the Feb 2026 call, when directly asked about Gopalpur capex in FY27, management explicitly stated that major capex would be in FY28, implying no material Gopalpur allocation within the FY27 budget beyond petchem, jetty, and routine items. The May 2026 call now allocates INR300-400 crores for Gopalpur construction in FY27 without explaining what changed - such as receipt of EC clearance - to justify pulling this timeline forward by a full fiscal year. FY28 Capex Guidance Contradicts Prior Direction · 5 May 2026. In the Feb 2026 call, when directly asked whether FY28 capex would match FY27's INR9,000 crore level, management answered No and indicated it would not reach that level. The May 2026 call now guides FY28 capex to INR8,000-9,000 crores described as similar to FY27, directly contradicting the prior No response without any explanation for what drove the elevated spending outlook in FY28. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Petronet LNG earn on its capital? Petronet LNG Ltd earned a ROCE of 23% in FY26. That is up from a low of 15% in FY16. Its return on capital used (ROIC) is 2.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 9.0% net margin and 1.58× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 9.0% net margin × 1.58× asset turnover × 1.23× leverage (assets divided by equity) ≈ 17.5% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 14.1% − 12.0% = +2.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Petronet LNG have too much debt? Petronet LNG Ltd has total debt of ₹2,341 Cr against shareholder equity of ₹22,285 Cr as of Jun 2026, so its debt is 0.11× its equity, which is very little. Year by year, that ratio went from 0.25 in FY22 to 0.11 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Petronet LNG shareholding pattern? Domestic institutions raised their stake in Petronet LNG Ltd by 2.4 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 14.2% of the company. Foreign institutions moved −1.3 points over the same period, to 26.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +2.4 points over 8 quarters, to 14.2%; Foreign institutions: −1.3 points over 8 quarters, to 26.0%; Promoters: +0.0 points over 8 quarters, to 50.0%. Why the owners changed: domestic institutions drove it (+2.4 points), with the other side taken by foreign institutions (−1.3 points). They raised their stake step by step. ## How far is Petronet LNG from balance-sheet trouble? For Petronet LNG Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Petronet LNG rank in its industry? 75.3 out of 100, rank 1 of 7 in Gas Distribution, with 96% of the evidence available. Petronet LNG Ltd scores 75.3 out of 100 against the 7 companies it is compared with in Gas Distribution, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.4 + 20.8 + 13.1 + 20 = 75.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Petronet LNG compared with? Petronet LNG ranks 1 of 7 Gas Distribution companies on the 4-Factor Sector Score, with 75.3 out of 100. 1. Petronet LNG Ltd this page PETRONET · breaking out · Most evidence points up · 96% evidence 75.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue -24.8% · Profit 13.4% · Operating margin change 18 points · 88% evidence Capital efficiency 20.8/25 · ROCE 22.6% · Operating margin 28% · 100% evidence Valuation 13.1/20 · P/E 10.3× · PEG 1.3 · 100% evidence Relative strength 20.0/20 · Lead over its industry 11.1% · Lead over NIFTY 500 8% · 1 year 2.9% · 100% evidence · 8 of 12 weeks ahead Exact sum: 21.4 + 20.8 + 13.1 + 20 = 75.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [GAIL (India) Ltd](https://www.sectoralpha.in/stocks/gail-indialtd) GAIL · breaking out · Evidence leans up · 100% evidence 62.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 10.4% · Profit 15% · Operating margin change 5 points · 100% evidence Capital efficiency 10.1/25 · ROCE 9.7% · Operating margin 15% · 100% evidence Valuation 9.9/20 · P/E 8.7× · PEG 1.79 · 100% evidence Relative strength 14.5/20 · Lead over its industry 8.4% · Lead over NIFTY 500 5.4% · 1 year -8.1% · 100% evidence · 2 of 12 weeks ahead Exact sum: 27.9 + 10.1 + 9.9 + 14.5 = 62.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Adani Total Gas Ltd](https://www.sectoralpha.in/stocks/adani-total-gas-ltd) ATGL · basing · Evidence leans down · 78% evidence 45.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.2/35 · Revenue 23.7% · Profit 2.7% · Operating margin change -3 points · 100% evidence Capital efficiency 14.5/25 · ROCE 15.3% · Operating margin 17% · 100% evidence Valuation 3.5/20 · P/E 91.6× · PEG 8.41 · 65% evidence Relative strength 8.3/20 · Lead over its industry n/a · Lead over NIFTY 500 -7.9% · 1 year -15.4% · 25% evidence · 0 of 12 weeks ahead Exact sum: 19.2 + 14.5 + 3.5 + 8.3 = 45.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Mahanagar Gas Ltd](https://www.sectoralpha.in/stocks/mahanagar-gas-ltd) MGL · turning · Evidence leans down · 81% evidence 44.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.3/35 · Revenue 11.1% · Profit -33.4% · Operating margin change -10 points · 88% evidence Capital efficiency 13.1/25 · ROCE 17% · Operating margin 14% · 100% evidence Valuation 12.0/20 · P/E 14.5× · PEG 0.3 · 100% evidence Relative strength 9.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -0.4% · 1 year -17.9% · 25% evidence · 0 of 12 weeks ahead Exact sum: 9.3 + 13.1 + 12 + 9.9 = 44.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Gujarat State Petronet Ltd](https://www.sectoralpha.in/stocks/gujarat-state-petronet-ltd) GSPL · Too little evidence to rank firmly · 55% evidence 44.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/43.75 · Revenue -7.5% · Profit -18.6% · Operating margin change 3 points · 47% evidence Capital efficiency 12.3/31.25 · ROCE 15.2% · Operating margin 16% · 75% evidence Valuation 13.2/25 · P/E 14.4× · PEG 1.27 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 18.8 + 12.3 + 13.2 = 44.3 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 6. [Indraprastha Gas Ltd](https://www.sectoralpha.in/stocks/indraprastha-gas-ltd) IGL · basing · Evidence leans down · 100% evidence 41.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.6/35 · Revenue 14.7% · Profit -37.6% · Operating margin change -11.6 points · 100% evidence Capital efficiency 12.8/25 · ROCE 17.5% · Operating margin -0.6% · 100% evidence Valuation 14.8/20 · P/E 19.5× · PEG 1.26 · 100% evidence Relative strength 5.3/20 · Lead over its industry -8.9% · Lead over NIFTY 500 -11.5% · 1 year -34.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 8.6 + 12.8 + 14.8 + 5.3 = 41.5 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Gujarat Gas Ltd](https://www.sectoralpha.in/stocks/gujarat-gas-ltd) GUJGASLTD · Too little evidence to rank firmly · 47% evidence 52.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/43.75 · Revenue 3.7% · Profit -10.6% · Operating margin change 0 points · 53% evidence Capital efficiency 18.2/31.25 · ROCE 18.5% · Operating margin 11% · 71% evidence Valuation 14.9/25 · P/E 18.6× · PEG n/a · 50% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 19.3 + 18.2 + 14.9 = 52.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Gas Distribution](https://www.sectoralpha.in/sectors/gas-distribution), all 7 compared on one page. ## Which companies are close to Petronet LNG in size? Petronet LNG is the 3rd largest of 7 Gas Distribution companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: GAIL (India) and Adani Total Gas. Just below it: Gujarat Gas, Indraprastha Gas, Gujarat State Petronet and Mahanagar Gas. ### Gas Distribution companies close in size

1. [GAIL (India) Ltd](https://www.sectoralpha.in/stocks/gail-indialtd) ₹1,10,402 crore
2. [Adani Total Gas Ltd](https://www.sectoralpha.in/stocks/adani-total-gas-ltd) ₹58,779 crore
3. Petronet LNG Ltd ₹43,425 crore
4. [Gujarat Gas Ltd](https://www.sectoralpha.in/stocks/gujarat-gas-ltd) ₹33,105 crore
5. [Indraprastha Gas Ltd](https://www.sectoralpha.in/stocks/indraprastha-gas-ltd) ₹19,487 crore
6. [Gujarat State Petronet Ltd](https://www.sectoralpha.in/stocks/gujarat-state-petronet-ltd) ₹15,141 crore
7. [Mahanagar Gas Ltd](https://www.sectoralpha.in/stocks/mahanagar-gas-ltd) ₹10,357 crore

[All 7 Gas Distribution companies, largest first](https://www.sectoralpha.in/sectors/gas-distribution#all-companies)

### Companies close in size in other industries

1. [Sundaram Finance Ltd](https://www.sectoralpha.in/stocks/sundaram-finance-ltd) ₹43,786 crore · Finance & Investments - CV Finance
2. [Cupid Ltd](https://www.sectoralpha.in/stocks/cupid-ltd) ₹43,641 crore · Contraceptives/Protectives
3. Petronet LNG Ltd ₹43,425 crore
4. [Colgate-Palmolive (India) Ltd](https://www.sectoralpha.in/stocks/colgate-palmolive-indialtd) ₹43,423 crore · FMCG - Personal Care
5. [Fertilizers & Chemicals Travancore Ltd](https://www.sectoralpha.in/stocks/fertilizers-chemicals-travancore-ltd) ₹43,360 crore · Fertilisers

## What else do people ask about Petronet LNG? ### What is Petronet LNG's share price today? Petronet LNG Ltd's share price is ₹303.00, +7.7% over the past year. The whole company is worth ₹45,372 Cr on the market. In the last 52 weeks it traded between ₹246 to ₹323; today it is 74% of the way up from the low, 6.6% above its 200-day average (as of 3 November 2026). ### What were Petronet LNG's latest quarterly results? Petronet LNG Ltd reported revenue of ₹5,558 Cr and net profit of ₹1,137 Cr for the Jun 2026 quarter. Revenue fell 53.2% and profit rose 35.0% compared with a year earlier. Earnings per share were ₹7.58. The operating margin was 28.0%, 18.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Petronet LNG's market cap? Petronet LNG Ltd's market capitalisation is ₹45,372 Cr at a share price of ₹303.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Petronet LNG performing? Petronet LNG Ltd's share price has been rising for 6 weeks. In its latest quarter, revenue fell 53.2% and profit rose 35.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 9 weeks running (as of 3 November 2026). ### Will Petronet LNG's share price go up? This page does not forecast Petronet LNG Ltd's share price. What it shows instead: the share price is ₹303.00, and it has been rising for 6 weeks. Its P/E of 10.8× is higher than 25% of its own last 10 years (as of 3 November 2026). ### Who owns Petronet LNG? Promoters own 50.0% of Petronet LNG Ltd, foreign institutions 26.0%, domestic institutions 14.2% and the public 9.8% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 2.4 percentage points over 8 quarters (as of 3 November 2026). ### Where is Petronet LNG in its business cycle? Petronet LNG Ltd's FY26 operating margin was 12.0%, against a 12-year range of 3.8% to 18.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 28.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Petronet LNG story? Biggest thing to watch: the price has already been rising for 6 weeks, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Petronet LNG a stock worth studying right now? What the numbers show: Petronet LNG Ltd's results are improving, while its P/E is near the low end of its own history over 10 years, higher than only 25% of past readings. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Petronet LNG share price forecast for 2026? What management itself guided: Qatar force majeure currently runs through end-August; long-term volumes expected to resume immediately or as soon as possible after Gulf conditions improve. What is changing at Petronet LNG, from the latest results and calls: replacement cargoes use available terminal capacity, new supply contracts contribute delivered volumes and kochi connectivity opens access to customers. What would change the story: Repeated throughput and recurring service-profit growth that sustain the elevated earnings base after trading and inventory support normalizes would overturn the peak-margin warning. The conditional recovery thesis fails if replacement and contracted supply stop supporting throughput and subsequent reported quarters show falling operating profit as those gains fade, while Kochi remains unable to deliver commercial gas. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Breakout stocks: https://www.sectoralpha.in/breakout-stocks-india
- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Oil & gas stocks: https://www.sectoralpha.in/sectors/oil-and-gas-stocks-india

This is research, not advice. We’re not SEBI-registered.