Petronet LNG posted its Q4FY21 earnings on an operational front. Akshay Kumar Singh MD and CEO of Petronet LNG, discussed the performance.

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“We have a very aggressive capex plan and we want to take this company to almost three times the current topline and bottomline levels,” he said in an interview with CNBC-TV18.

The company has a capital expansion plan of almost Rs 40,000 crore in the coming five years. “It will be gradual starting from this year. This is going to give quite a good profit and revenue to the organisation,” he stated.

The company has Rs 5,500 crore of cash in the books. “We generate good cash every year. The Rs 40,000 crore plan that we have worked out, we will be able to manage from our balance sheet- from our internal cash generation,” he mentioned.

“We were expecting to recover the lost volume of Q1FY21 in Q4FY21, but that didn’t happen. But nevertheless, Q4FY21 numbers were almost at par with the previous Q4FY20 results,” he shared.

On dividend payout ratio, he said, “We want to create more value for our shareholders and that is the reason why we want to expand in the new business where we can generate more profit and it will be good for the shareholders. We have a plan to pump money in new project which will generate more profits for the company and we will share that with the shareholders.”

Dahej terminal will run at 94-95 percent of utilisation level and Kochi terminal utilisation should be around 25-30 percent this year, he further mentioned.

For the full interview, watch the accompanying video.

(Edited by : Dipika)