Buy Petronet LNG, target price Rs 310: Motilal Oswal

Motilal Oswal has buy call on with a target price of Rs 310. The current market price of Petronet LNG Ltd. is Rs 214.05. Time period given by analyst is one year when Petronet LNG Ltd. price can reach defined target.
Petronet LNG Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 32122.50 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-06-2021, the company has reported a Consolidated Total Income of Rs 8666.47 Crore, up 13.67 % from last quarter Total Income of Rs 7624.47 Crore and up 75.01 % from last year same quarter Total Income of Rs 4951.95 Crore. Company reported net profit after tax of Rs 633.64 Crore in latest quarter.

Investment Rationale
The stock trades at 9.2x FY23E EPS and 5.3x FY23E EV/EBITDA. The brokerage values PLNG on a DCF basis to arrive at a fair value of INR310.

Promoter/FII Holdings
Promoters held 50 per cent stake in the company as of June 30, 2021, while FIIs held 31.1 per cent, DIIs 5.1 per cent and public and others 13.8 per cent.