Petronet LNG Limited

Regd. Office: World Trade Centre, Bahar Road, Barakhamba Lane, New Delhi - 11000 I Phone: 011-23411411, Fax: 01 I- 23472550, CIN: L 74899DLI998PLC093073 Email: [email protected], Company's website: www.petronetlne..in PAN: AAACP8148D GST: 07AAACP8148D1ZI

ND/PLL/SECTT/REG. 33/2021

13th August 2021

The Manager BSE Ltd. Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001 The Manager National Stock Exchange oflndia Ltd. Exchange Plaza, Bandra Kurla Complex Bandra East, Mumbai - 400 051

Sub: Unaudited Financial Results along with Limited Review Report for the quarter ended 30th June 2021

Dear Sir/Madam,

In terms of provisions of SEBI (LODR) Regulations, 2015, we hereby inform the following:

i) The Board of Directors of the Company has, in its Meeting held on 13th August 2021, inter-alia, approved the Unaudited Financial Results of the Company (Standalone and Consolidated) for the quarter ended 30th June 2021 , a copy of which is enclosed herewith.
ii) The Limited Review Report with unmodified opinion (without any qualification) on the Unaudited Financial Results of the Company (Standalone and Consolidated) for the quarter ended 30th June 2021 is also enclosed herewith.

The above said meeting of the Board of Directors commenced at 6.00 p.m. and concluded at 8:45 p.m.

This is for information and records please.

Yours faithfully, ....

ajan Kapur) CGM & VP-Company Secretary

Encl: as above

Dahej LNG Terminal: GIDC Industrial Estate, Plot No. 7/A, Dahej Taluka Vagra, Distt. Bharuch - 392130 (Gujarat) Tel.: 02641-257249 Fax· 02641-257252

Kochi LNG Terminal: Survey No. 347, Puthuvypu P.O. 682508, Kochi Tel.· 0484-2502268

T R Chadha & Co LLP Chartered Accountants

Independent Auditor's Review Report on Quarterly Unaudited Standalone Financial Results of Petronet LNG Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Petronet LNG Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results of Petronet LNG Limited (the Company) for the quarter ended 30th June 2021 ("the statement"), being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations').
1. This statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principle laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" prescribed under section 133 of Companies Act 2013 ("the Act") read with relevant rules issued thereunder ('Ind AS') and other accounting principle generally accepted in India. Our responsibility is to express a conclusion on the statements based on our review.
1. We conducted our review of the statement in accordance with the Standards on Review Engagement (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). This standard require that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiry of company personnel and analytical procedure applied to financial data and thus provides less assurance than an audit. We have not performed any audit and accordingly, we do not express an audit opinion.
1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principle laid down in the applicable Indian Accounting Standard (Ind As) specified under Section 133 of Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For T R Chadha & Co LLP Chartered Accountants Firm Regn. No. 006711N / N500028

Digitally signed by HITESH GARG Date: 2021.08.13 19:53:08 +05'30'

Hitesh Garg

(Partner) Membership No 502955 UDIN - 21502955AAAADX9992 Date: 13th August 2021 Place: New Delhi

T R Chadha & Co., a partnership firm converted into T R Chadha & Co LLP (A limited liability partnership with LLP Identification No. AAF-3926) with effect from 28th December, 2015

Petronet LNG Limited Corporate Identity Number: L74899DL1998PLC093073 First Floor, World Trade Center, Babar Road, Barakhamba Lane,

New Delhi 110001

Statement of Unaudited Standalone financial results for quarter ended 30th June, 2021

[All amounts are Rupees in lac, unless otherwise stated)

	Particulars		Quarter Ended
		30-Jun-21	$31-Mar-21$	30-Jun-20	31-Mar-21
		Un-audited	Audited	Un-audited	Audited
a.	Revenue
	Revenue from operations	8,59,790	7,57,532	4,88,357	26,02,290
	Other income	6,853	4,915	6,838	38,815
	Total Revenue	8,66,643	7,62,447	4,95,195	26,41,105
	b. Expenses
	Cost of materials consumed	7,33,955	6,28,167	3,83,654	20,68,150
	Employee benefits expense	4,289	4,295	3,600	14,711
	Finance costs	8,003	8,129	8,814	33,595
	Depreciation and amotization expense	19,161	20,283	19,358	78,409
	Other expenses	16,118	15,961	10,109	49,475
	Total Expenses	7,81,526	6,76,835	4,25,535	22,44,340

c.	Profit before exceptional items and tax (a-b)	85,117	85,612	69,660	3,96,765
d.	Exceptional Items
c.	Profit/(loss) before tax (c-d)	85,117	85,612	69,660	3,96,765
f.	Tax expense:
	Current tax	23,200	23,400	18,800	1,02,500
	Deferred tax	(1,650)	(125)	(1,163)	(672)
	Total tax expense	21,550	23,275	17,637	1,01,828
A	Profit/(loss) for the period (c-f)	63,567	62,337	52,023	2,94,937
	Other comprehensive income
	Items that will not be reclassified to profit or loss
	Remeasurement of defined benefit plans		(380)		(380)
	Income tax relating to remeasurement of defined benefit plans		96		96
B	Total other comprehensive income for the period		(284)		(284)

$\overline{\epsilon}$	Total comprehensive income for the period $(A + B)$	63,567	62,053	52,023	2,94,653
				1,50,000	1,50,000
	Paid-up Share Capital	1,50,000	1,50,000
	Other EquityNet Worth	10,78,517	10,14,950	9,97,320	10,14,950
		12,28,517	11,64,950	11,47,320	11,64,950
	Earnings per equity share (Face value of Rs. 10/- each)
	Basic (Rs.)	4.24	4.16	3.47	19.66
	Diluted (Rs.)	4.24	4.16	3.47	19.66
		(not annualised)			(annualised)

Notes:

The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at the meeting held on [3th August 2021, The Statutory auditors of the Company have carried out limited review of the aforesaid results.
$\overline{2}$ The Company primarily operates in the business of import and processing of liquified natural gas. Accordingly, there is only one Reportable Segment i.e. "Natural Gas Business", hence no specific disclosure has been made w.r.t. operating segments.
$\overline{\mathbf{3}}$ In view of expected increase in capacity utilisation at Kochi terminal, the customers of the Company are asking for lower regasification tariff for Kochi Terminal w.c.f. 1st April 2019. The Company is in discussion with its customers for volumes tied up with respect to the said terminal and pending the finalisation of tariff the Company has recognised revenue on the basis of offered regasification tariff. The impact of the same, if any, including the possible impact on impairment of Kochi Plant, cannot be determined at this stage.
The Company has invoiced Rs. 19844 Lacs (excluding GST) as "Use or Pay charges" to its 3 customers, over a period of 4 years, for under utilisation of committed regasification facility at Dahej Plant, as per the terms of long-term regasification agreement and booked the same as income in respective years. Till 30th June 2021, total amount of Rs. 14392 Lacs (excluding GST) has been withheld and Rs. 5452 Lac (excluding GST) has been paid under protest. The Company is in discussion with respective customers for resolution of the issue. The company is confident that issue will be resolved in due course and no material adjustment is expected on settlement.
5 The operations of the Company were not materially interrupted during the lockdown due to outbreak of COVID-19, as natural gas is declared as one of the essential commodities by the Government of India. The Company has evaluated the possible effects on the carrying amounts of property, plant and equipment, inventory, loans, receivables and debt covenants basis the internal and external sources of information and determined, exercising reasonable estimates and judgements, that the carrying amounts of these assets are recoverable. Considering the above, and the Company's healthy liquidity position, there is no uncertainty on the going concern of the Company and the Company will be able to meet its financial obligations over the foreseeable future.
6 Previous year/period figures have been regrouped and rearranged to make them comparable with current period figures.

Place : New Delhi Date: 13 August 2021

Vinod Kumar Mishra

Director (Finance)

T R Chadha & Co LLP Chartered Accountants

Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results of Petronet LNG Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Petronet LNG Limited

1. We have reviewed the accompanying Statement of Consolidated Unaudited Quarterly Financial Results of Petronet J.NG Limited (the Parent) and its subsidiary (the Parent and its subsidiary together referred to as the "Group) and its share of the profit/(loss) after tax and total Comprehensive Income/(loss) of its joint ventures for the quarter ended 30th June 2021 a ("the statement"), being submitted by the Parent, pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations').
1. This statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principle laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" prescribed under Section 133 of Companies Act 2013 ("the Act") read with relevant rules issued thereunder ('Ind AS') and other accounting principle generally accepted in India. Our responsibility is to express a conclusion on the statements based on our review.
1. We conducted our review of the Statement in accordance with the Standards on Review Engagement (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results of the following entities:
- · Petronet Energy Limited (PEL) Subsidiary
- Adani Petronet (Dahej) Port Pvt. Limited (APPPL) Joint Venture
- India LNG Transport Co (No. 4) Pvt. Limited. (ILT4) Joint Venture $\bullet$
1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of review report of the other auditor refereed to be in para 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principle laid down in the applicable Indian Accounting Standard (Ind As) specified under Section 133 of Companies Act, 2013 and other accounting principle generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

T R Chadha & Co LLP Chartered Accountants

'Ce did not review the financial results/information of subsidiary included in the consolidated unaudited financial results, ·whose intenm financial rcsulr/infomution reflects total revenue of Rs. l;il, net loss after tax and total con1prehensivc loss of Rs. 202 lakh, for rhe quarter ended .)0th June 2021as considered in consol_icLi.ted unaudited financial results. The consolidated unaudited financial rr:sults also include p·oup's share of net profit after tax of Rs. 3,642 lakh and total comprehensive income of Rs .. \643 lakh, for the quarter ended 3(Jrh June 202"1 as considered in consolidated unaudited financial results in respect of joint venture companies, whose financial results have not been rcvi,:wed by us. These interim financial resnlts have been reviewed by other audiror whose reporr has been furnished to us by the management and our conclusion on the statement, in so far as it relates to the amounts and disclosures incluckd in respect of it is solely based on the rcporr of other auditor and procedures performed by us as stated in paragraph .) above. Our conclusion on statement is not modified in respect of above matrer.

Por TR Chadha & Co LLP

Chartered Accountants Firm Regn. No. 006711:N / N.500028

Digitally signed by HITESH GARG Date: 2021.08.13 19:53:44 +05'30'

Hitesh Garg

(Partner) J,kmbership No. 512955 CDIN- 2'1502955AAA.\DY8528 Date: 13,1, August 2021 Place: Ne\v Delhi

TR Chadha & Co., a partnership firm converted into TR Chadha & Co LLP (A limited liability partnership with LLP Idenl1f1cation No. AAF-3926) with effect from 28'" December, 2015