CORPORATE PROFILE - PETRONET LNG LIMITED, January 2020
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DISCLAIMER Any information contained in this presentation should not be taken as being a representation about facts and projection or promise of performance, whether financial, operational or otherwise. Nothing contained in this presentation should be considered an invitation to transact in our securities or an offer of our securities. This presentation is made specifically for purposes of the meeting in which this is being presented and not for any other purpose. You may determine that such information may be regarded as forward-looking but we make no assurance about any projection, extrapolation or interpretation of the same that you may make. The information contained herein should be treated with utmost confidentiality and not used for any purpose. You are advised to obtain legal advice on the nature and character of the information and on implications of being in possession of the same.
OVERVIEW Global & India’s Primary Energy Consumption Scenario India’s Gas Scenario, Infrastructure Role of LNG in India About Petronet’s Dahej & Kochi Terminals New Initiatives Performance 3
PRIMARY ENERGY CONSUMPTION (mtoe) – WORLD Fuel 2008 % 2018 % Oil 4143 35% 4662 34% Coal 3503 30% 3772 27% Gas 2578 22% 3309 24% Nuclear 620 5% 611 4% Hydro 737 6% 949 7% Renewables 124 1% 561 4% Total 11705 100% 809 100% Source : BP Statistical Review-June 2019 4
PRIMARY ENERGY CONSUMPTION (mtoe) – INDIA Fuel 2008 % 2018 % Oil 149 31% 239 30% Coal 259 54% 452 56% Gas 34 7% 50 6% Nuclear 3 1% 9 1% Hydro 26 5% 32 4% Renewables 5 1% 27 3% Total 478 100% 809 100% Source : BP Statistical Review-June 2019 5
INDIA – A MAJOR GAS/LNG CONSUMER 14th largest gas consumer – 58 bcm (~158 mmscmd) 4th largest LNG importer – 31 bcm (~82 mmscmd) Economy growing at CAGR of about 6-7% with similar growth in Energy Consumption Government aims to significantly increase share of Natural Gas in Indian Energy basket to in coming years Despite increase in domestic gas production- dependency on imported gas to increase substantially Pipeline network- developing into a national grid- needs to grow faster, connecting new markets SECTOR WISE PROJECTED GAS DEMAND (mmscmd) 350.00 Sector 2016-17 2019-20 2026-27 Power 300.00 Power 157 202 309 Fertilizer 250.00 Fertilizer 97 106 110 200.00 City Gas City Gas 22 36 68 150.00 Industrial 27 35 52 Industrial 100.00 Petchem/ Petchem/ Refineries / 50.00 Refineries / Internal Cons. 47 54 103 Interal Cons. 0.00 Sponge/ Sponge/ Iron/ Steel 8 10 12 Iron/ Steel 2016-17 2019-20 2026-27 Total Realistic Demand 358 443 654 Source : PPAC, BP Statistical Review June 2019 & Vision 2030, Natural Gas Infrastructure in India 6
INDIA’S GAS INFRASTRUCTURE Pipelines Length Designed Chhara (Kms) Capacity (MMSCMD) Existing 16,770 369 Jafarbad Under 11,377 - Implementation Total 28,147 Kolkatta Mundra Digha Jaigarh Dhamra Dahej Gangavaram Hazira Krishnapattam Kakinada Dabhol Ennore Kochi Possible Physical Gas Hub in India
LNG TERMINAL INFRASTRUCTURE CAPACITY No. TERMINAL DEVELOPERS (MMTPA) Existing Terminal 1 Dahej Petronet LNG Limited 17.5 2 Hazira Royal Dutch Shell, Total Gaz Electricite 5.0 3 Dabhol GAIL,NTPC 5.0 4 Kochi Petronet LNG Limited 5.0 5 Ennore Indian Oil Corp 5.0 TOTAL EXISTING 37.5 Construction completed 6 Mundra GSPC, Adani 5.0 Under contrcution 7 Jaigarh (FSRU) H Energy 4.0 8 Dhamra Adani 5.0 9 Jafrabad (FSRU) Swan 5.0 10 Chhara HPCL & Shapoorji Pallonji 5.0 TOTAL UNDER-CONSTRUCTION /CONSTRUCTION COMPLETED 24.0 Proposed 11 East coast Petronet LNG Limited 5.0 12 Kakinada/Krishnapatnam/Karaikal Others 2.5 13 Kolkata/Digha Port H Energy 2.5 TOTAL PROPOSED 10.0 GRAND TOTAL 71.5 • In absence of breakwater terminal can operate at 2.5 MTPA • # in absence of commercial commitments, plans have been put on hold
PETRONET LNG LIMITED Incorporated on April 2, 1998 Authorized Capital INR 3000 Crore Paid up capital INR 1500 Crore Commencement of Commercial Operations - April, 2004 Equity 50% Oil & Gas PSUs (BPCL, GAIL, IOC & ONGC) 50% Public / FIIs 12.5 12.5 Public & FIIs 50 12.5 12.5 10
TOWARDS THE VISION Vision Business Strategy To be a key energy provider to the nation Create and manage world-class by leveraging unique position in the LNG LNG infrastructure value-chain with international presence Continue excellence in LNG 45000 Revenue growth 19% business EBITDA growth 20% 39500 (INR Crore) - Focus on higher capacity 40000 37747 utilization and better operational efficiencies 35000 31467 30599 - Diversify LNG sources 30000 27133 Diversify business 24616 25000 22696 - Solid cargo port at Dahej - Small Scale LNG 20000 - Exploring business 15000 13197 opportunities in neighboring countries 10000 3630 - City-gas distribution/ direct 5000 1914 2205 1582 1594 1760 2939 marketing 1284 0 - Air Separation Unit 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 Maintain highest standards of business ethics 11
DAHEJ LNG TERMINAL Located at Dahej in Gujarat in the Gulf of Cambay on the West Coast of India. Commencement of Operations in 2004 Capacity (mmtpa) 2004 5.0 2009 10.0 2016 15.0 2019 17.5 LNG Cargoes unloaded : 2200+ 1st 1000 Cargoes in Feb 2013 2nd 1000 Cargoes in June 2018 7.50 mmtpa LNG imported from Qatar under long term contracts Terminal meets almost 40% of India’s gas requirement and around 75-80% of LNG imports in the country Truck Loading facility can handle 14,000 loadings/ yr. Offering tolling services to Offtakers & Bulk customers Expanded Capacity contracted with GAIL, GSPC, IOCL & BPCL Time Charter Vessels – Disha, Raahi and Aseem 12
DAHEJ PLANT FACILITY 13
DAHEJ SECOND JETTY
DAHEJ EXPANSION PHASE IIIA
DAHEJ EXPANSION PHASE IIIB1 Pipe Pipe Rack Rack STV Pipe rack STV Area Pipe Rack Air Heater Fire Station 15 MMTPA FACILITY AT DAHEJ NAME OF FACILITY?Air Heater
KOCHI LNG TERMINAL Terminal commissioned in September, 2013 with the nameplate capacity of 5.0 mmtpa. For effective utilization of Kochi terminal in absence of pipeline, ancillary services such as storage & reloading, cool down, bunkering options explored Kochi Terminal has so far handled 45+ Cargoes operations (including 18 Reload / Cool down Cargo operations and 2 bunkering). Truck loading facility– supply commenced to HLL, Kochi and so far supplied around more than 1250 + truck loads. Long term contract of about 1.50 mmtpa LNG from Exxon Mobil’s Gorgon Project (Australia) – supply commenced. PLL is aggressively pursing construction of Mangalore / Bangalore pipelines with GAIL.
KOCHI FACILITY 18
KOCHI – TRUCK LOADING
KOCHI PIPELINE PLL is aggressively pursing construction of pipeline with GAIL All sections Kochi Koottand and Perole- Kodalamuguru- Mangaluru awarded Kochi - Koottanad section completed and successfully commissioned in June 2019 The connectivity to Mangalore will ensure up to 25- 30% of capacity utilization at Kochi Terminal
NEW BUSINESS INITIATIVES Launch of 1st LNG fueled bus in Kerala on 8th November 2016 PESO has amended Static and Mobile Pressure Vessels(U) rules,1981 including the guidelines for setting up of LNG/LCNG Dispensing Station Ministry of Road Transport & Highways have incorporated LNG as an automotive fuel in Central Motor Vehicle Rules Exploring opportunities of utilizing LNG as automotive fuel for heavy duty trucks by setting up LNG dispensing stations on major highways as marine fuel to LNG powered fishing boats
SSLNG PROJECT PLAN FOR PILOT DEVELOPMENT Development of Pilot route with establishment of 20 LNG fuelling stations. The average distance between two stations being about 250 km. The proposed route is as follows: Delhi to Mumbai Highway Ahmedabad to Mundra Highway Mumbai to Chennai Manguluru to Bengaluru Mangaluru to Thiruvananthapuram Finalization of business plan with various Oil and Natural Gas Marketing Companies for setting up of stations
PLL’s PROGRESS FOR PROVING THE CONCEPT LNG has been notified as an automotive fuel in Central Motor Vehicle Rules (CMVR). PESO recommendations on Static & Mobile Pressure Vessels (SMPV) rules for dispenser stations - final notification issued in April 2018. PLL has procured four LNG buses approved for Commercial operations for its staff transportation at Dahej and Kochi terminals PLL has developed LNG dispenser stations inside Dahej and Kochi LNG terminals PLL is in discussions with State Roadways of Gujarat and Kerala to run a few buses on LNG and establishing LNG dispensing at their locations.
NEW BUSINESS INITIATIVES LNG regasification terminals / FSRUs Initiatives being explored in : Sri Lanka Bangladesh Andaman & Nicobar Islands Mauritius
PERFORMANCE GRAPH Net Worth ( Crore) Sales/ Service TBTU 12000 10666 1000 9720 847 844 10000 8094 800 728 8000 6377 581 5688 600 548 524 533 6000 4992 494 4450 440 3520 4000 400 2236 2682 2000 200 0 0 Turnover Rs. Crore Profit Crore 45000 2500 37747 39500 38395 2155 40000 2078 35000 31467 30599 2000 27133 1706 30000 24616 25000 22695 1500 20000 1058 1149 13197 914 15000 1000 882 10000 620 711 5000 500 0 2010-11 2011-12 2012 - 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 13 0 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19
FINANCIAL PARAMETERS Mkt. Price INR 450 403 400 350 336 300 250 170 238 200 151 208 150 82 100 123 133 50 0 10 11 12 13 14 15 16 17 Current (* - Bonus Share 1:1) Year EPS (INR) P/E D/E 2010-11 8.26 15.19 1.20 2011-12 14.10 9.29 0.93 2012-13 15.32 8.83 0.68 2013-14 9.49 14.75 0.66 2014-15 11.77 14.52 0.45 2015-16 12.19 20.57 0.37 2016-17 22.80 17.72 0.27 2017-18 13.86 16.66 0.15 2018-19 14.37 17.51 0.07 Exchange Rate 1 US$ = INR 60
PERFORMANCE BASED ON EMPLOYEE PARAMETERS 2018-19 2017-18 2016-17 2015-16 Number of Employees 494 486 480 466 Turnover/ employees (INR Crore) 78.62 63.45 52 58.41 Profit Before Tax / Employee (INR Crore) 6.69 6.27 4.92 2.63 Profit after Tax/employee(INR Crore) 4.51 4.32 3.55 1.99 Employee Benefit Expenses (INR Crore) 12.58 91.12 73.86 71.69 Employee Remuneration cost (as % of Profit after tax) 5.64% 4.38% 4.33% 6.11% A Snapshot of our Human Capital Human Capital Skill Set Others Location Male Female Professional : 241 76% of the professionals are of Technical Delhi 85 25 background as opposed to 24% Non Tech: 182 Non Tech:59 Technical Average Age:36.34 years (more than Dahej 249 4 Technician/Operators: 180 50% employees in 30-40 years age) Office Support 48 (Receptionist/Assistant) Average years of association of employees Kochi 128 3 Support Staff: 25 with Company: 7.45 years (Attendant/Driver/Caretaker) Attrition rate: 2018-19 : 3.03% Learning & Development : 5.67 Mandays / Employee 27
RATING AND RECOGNITION Ratings & Ranking: Moody’s International Rating Baa2 (at par with India’s Sovereign Rating) (2018) Rated AAA+ by CRISIL, India Ratings & ICRA (2018) 48th rank Fortune India 500 (2018) 51st rank in ET 500 (2018) 46th rank in D&B India’s 500 Companies Certificate of Appreciation from US Environment Protection Agency for maintaining low methane emissions
CSR – PARTNERING WITH SOCIETY Healthcare and Sanitation Financial assistance for construction of Trauma Care Centre at AIIMS, Bhubaneshwar Eye screening & cataract operational camps in Delhi, Dahej, Kochi, and U.P. Education and Empowerment Petronet Super 30 in collaboration with Indian Army & CSRL supporting underprivileged & brilliant students of Kashmir for 11 months Residential coaching for admission to IITs/NITs. Skill development training for underprivileged youth in association with CIPET in Gujarat , Kerala, Haryana and Himachal Pradesh. Skill Development training of 540 women in Dharwad, Karnataka Skill development initiative of Tribal girls with DRI Balrampur Community Development & Others Efforts towards Hunger Free City Numma – Oonu – Petronet Kitchen, Ernakulam, Kochi Solar lights installations in Pali, Rajasthan Construction of BSF widow quarters in Gujarat, Rajasthan and Punjab District level Special Olympics in Bharuch, Gujarat
Thank You 30
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