Petronet LNG has announced changes to its Board of Directors following official communication from Gujarat State Petroleum Corporation Limited (GSPC). The company received a letter dated December 30, 2025, detailing the withdrawal and nomination of directors as part of routine corporate governance procedures.

Director Withdrawal Details

The company has been notified of the withdrawal of Shri Milind Torawane, IAS from his position as Director on the Board of Petronet LNG Limited. The withdrawal became effective from December 24, 2025, marking the end of his tenure with the company.

New Director Nomination

Simultaneously, GSPC has nominated Ms. Avantika Singh Aulakh, IAS as the replacement director. She will serve as a Nominee Director (GoG/GMB) on Petronet LNG's Board, taking over the position previously held by Shri Milind Torawane.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, which mandates disclosure of material events and information. Petronet LNG has indicated that comprehensive details regarding Ms. Avantika Singh Aulakh will be shared following her formal appointment to the Board.

The company stated that additional information about the new director will be provided in accordance with the provisions of the Companies Act, 2013, ensuring full transparency and regulatory compliance throughout the transition process.

Petronet LNG has been designated as Investec's top pick for 2026, with the brokerage maintaining its 'Buy' rating and ₹400 price target. The stock gained 1% in early trading on Tuesday, reaching ₹281.10, as investors responded positively to the upgraded recommendation that implies a 44% upside potential from the previous close.

Investec's Investment Thesis

Investec's bullish outlook is anchored on expectations of significant global LNG market developments. The brokerage projects global liquefied natural gas supply will surge by 7% or 40 billion cubic meters in 2026, marking the fastest growth since 2019.

Favorable Market Dynamics for India

The current supply-demand imbalance has created a benign pricing environment that Investec believes comes at an opportune time for India. Spot LNG prices are under pressure due to oversupply conditions, which should benefit price-sensitive industrial demand. India's LNG imports declined in financial year 2025 due to temporary factors that are now stabilizing, according to the brokerage.

Company Fundamentals and Expansion

Petronet LNG's operational strengths support Investec's positive outlook. The company has completed its Dahej plant capacity expansion to 22.5 MMTPA, positioning it to capitalize on market opportunities.

Market Performance and Analyst Coverage

Despite the positive brokerage outlook, Petronet LNG shares have declined 20% year-to-date, reflecting cyclical import weakness. The stock correction has brought valuations below historical levels, creating what Investec sees as an attractive entry point. Among 34 analysts covering the stock, 15 maintain 'Buy' ratings, 10 have 'Hold' recommendations, and nine suggest 'Sell'.