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Petronet doesn't depend on its promoters for funding

Anilesh S. Mahajan     September 24, 2014

BT-Yes Bank Best CFOs Survey

(LARGE COMPANIES)

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.

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"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.

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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.


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