Petronet LNG to set up 10 CBG plants with ₹1,200 crore joint venture

Petronet LNG Ltd has approved a proposal to set up a 50:50 joint venture with Gruner Renewable Energy Private Limited to establish 10 compressed biogas (CBG) plants across India, according to an exchange filing on September 17.

The proposed venture will be incorporated as a private limited company and will have an estimated capital outlay of ₹1,200 crore.

Each of the 10 plants will have a capacity of 18 tonnes of CBG per day, giving the proposed project a combined capacity of 180 tonnes per day.

The approval was granted at Petronet LNG’s board meeting on September 17, 2026.

The company said further details will be disclosed to the stock exchanges after the proposed joint venture is incorporated.

Petronet LNG Q1 profit falls

The announcement comes after Petronet LNG reported a 15.4% sequential decline in net profit to ₹1,113 crore for the June quarter.

The company’s net profit stood at ₹1,338 crore in the March quarter.

Revenue fell 41.2% quarter on quarter to ₹5,554.1 crore from ₹9,442.1 crore, while earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 17.7% to ₹1,532 crore from ₹1,862 crore.

Despite the fall in EBITDA, the company’s EBITDA margin improved to 27.6% from 19.7% in the previous quarter, an increase of 7.9 percentage points.

Petronet LNG shares closed 0.67% higher at ₹284 on the NSE on Thursday, September 17.

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