But there are worries about Petronet’s capex plans that can weigh on its balance sheet. “Petronet is investing about ₹30,000 crore in multiple projects, including a petrochemical complex, LNG capacity, CBG, and other infrastructure projects. Its balance sheet shall convert into net debt of ₹4,160 crore in FY30E from net cash of ₹729 crore in FY26,” said HDFC Securities.
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