PETRONET Q2 FY27 Guidance vs Delivery (PETRONET Management Mirror)

H1 FY27 Capex Closes at Rs 1,626 Crore, Trending Below the Rs 9,000 Crore Guided in Mar'26 Qtr

Petronet LNG reported a total capex of INR 1,626 crore in H1 FY27, with cumulative capex on the petrochemical project reaching approximately INR 3,200 crore and major contracts placed. This outcome is running below the initial FY27 capex budget of approximately INR 9,000 crore (including ~INR 7,500 crore for the petrochemical project) guided in the Mar'26 Qtr and reaffirmed in the Jun'26 Qtr. For periods beyond Sep'26 Qtr, management expects an uptick in H2 FY27 to target the full-year INR 9,000 crore guidance. FY28 capex is expected to remain at a similar level of around INR 9,000 crore, after which a gradual trough phase is projected to begin from FY29 onwards. The useful life of the petrochemical plant for depreciation is set at 25 years.