Petronet LNG Limited has successfully concluded its postal ballot voting process, with shareholders approving crucial tenure extensions for two key leadership positions. The remote e-voting period, which ran from December 12, 2025 to January 10, 2026, saw significant shareholder participation in deciding the company's leadership continuity.

Overwhelming Support for Managing Director Extension

Shareholders demonstrated strong confidence in the company's leadership by approving the extension of Managing Director and CEO Akshay Kumar Singh's tenure. The resolution received exceptional support from the shareholder community.

The approved extension will see Singh continue as Managing Director and CEO from February 1, 2026 to May 12, 2027, representing a one-off final extension of his current tenure.

Mixed Response to Director Technical Extension

The second resolution regarding Director Technical Pramod Narang's tenure extension received approval, though with relatively lower support compared to the first resolution. This resolution extends Narang's position for an additional two years as a one-off final extension.

Narang's extended tenure will run from November 26, 2025 to November 25, 2027, ensuring continuity in the company's technical leadership.

Comprehensive Voting Process

The postal ballot was conducted entirely through remote e-voting, facilitated by National Securities Depository Limited (NSDL). The company dispatched electronic notices to all eligible shareholders on December 8, 2025, with December 5, 2025 serving as the cut-off date for determining voting eligibility.

Ragini Chokshi & Co., serving as the appointed scrutinizer, oversaw the entire voting process and confirmed the validity of all results. The scrutinizer's report, dated January 12, 2026, verified that both resolutions were passed with the requisite majority as per the Companies Act, 2013.

Regulatory Compliance and Transparency

The voting results have been made available across multiple platforms to ensure transparency and regulatory compliance. Shareholders can access the complete results on the company's website, NSDL's e-voting portal, and at the company's registered office notice board. The entire process was conducted in accordance with Section 108 and Section 110 of the Companies Act, 2013, and Regulation 44 of SEBI (LODR) Regulations, 2015.

Petronet LNG shares witnessed significant buying interest on Friday, January 9, surging as much as 5% following a positive rating upgrade from global brokerage JPMorgan. The stock closed 3.09% higher at ₹291.90, reflecting strong investor confidence in the LNG terminal operator's growth prospects.

JPMorgan Upgrade Details

JPMorgan upgraded Petronet LNG from its previous rating to 'Overweight' and substantially increased its price target to ₹335 per share. This revised target represents an upside potential of approximately 18% from current market levels, signaling the brokerage's bullish outlook on the company's near-term performance.

Key Growth Drivers

The brokerage identified three primary factors expected to drive Petronet LNG's earnings momentum in the coming period:

Dahej Expansion Benefits: The commissioning of the 5 million tonnes per annum Dahej expansion in March is anticipated to significantly boost volumes and operational capacity.

Tariff Escalation: A 5% tariff escalation is expected to contribute positively to the company's revenue streams and margin improvement.

Reduced Impairment Costs: Lower impairment costs could lead to upgrades in consensus earnings estimates for FY28, providing additional support to the stock's valuation.

Regulatory Challenges and Market Concerns

Despite the positive outlook, JPMorgan acknowledged certain valuation concerns that could impact long-term performance. The brokerage flagged potential renegotiation of Dahej tariffs and risks arising from large PDH capital expenditure as key areas of concern. However, these issues are expected to remain unresolved for some time, allowing improving earnings to support the stock in the interim.

Separately, Citi has raised regulatory risks for Petronet LNG, warning that changing regulatory and competitive dynamics could shift bargaining power in favor of the company's offtakers. The Petroleum and Natural Gas Regulatory Board has published a discussion paper analyzing costs across the gas value chain, including regasification operations. PNGRB's recommendations around regasification regulation underscore the regulator's view that terminals should be brought under a formal regulatory framework.

Analyst Sentiment

The broader analyst community remains divided on Petronet LNG's prospects. Among 33 analysts tracking the stock, 15 maintain a 'Buy' rating, while nine each recommend 'Hold' and 'Sell' positions. This mixed sentiment reflects the balance between growth opportunities and regulatory uncertainties facing the LNG sector.

The recent upgrade from JPMorgan, combined with the company's operational expansion plans, suggests that near-term earnings improvement could outweigh longer-term regulatory concerns for investors seeking exposure to India's growing LNG infrastructure sector.