Petronet doesn't depend on its promoters for funding
Anilesh S. Mahajan September 24, 2014
BT-Yes Bank Best CFOs Survey
Winner: R.K. GARG, Director (Finance), Petronet LNG
Petronet LNG is a company like few others. For, its main shareholders are also its biggest rivals. State-run Indian Oil, GAIL, Bharat Petroleum and Oil & Natural Gas Corp together own half of Petronet.
"We have adjusted our business model in a unique way. All these companies can use our terminals and pay us handling charges and take the gas," says R.K. Garg.
Besides, the company, which posted a net profit of Rs 1,149 crore in 2012/13, doesn't depend on its promoters for funding. "We can raise capital and debt based on our own ratings," says Garg.