Petronet LNG Q3 Review - Another Strong Performance: Prabhudas Lilladher

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Prabhudas Lilladher Report

We increase our FY21E estimates of Petronet LNG Ltd. by 7% to factor in strong nine months performance and FY22/23E by 3.5/3.4% as we increase spot margins.

We believe the company -

1. is a play on India’s rising liquefied natural gas imports supported by benign spot LNG prices
2. possess solid business model given high earnings visibility
3. has limited competition to the company’s well-entrenched reach in the LNG business.

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