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Oil India clocked Q2FY25 SA EBITDA of Rs21.8bn – an 11% miss, mainly due to higher provisions and lower-than-expected output. The SA PAT miss, however, was lower at 6% on higher Other Income and lower ETR. Crude production rose 5% YoY to 0.88mmt (2% miss), while gas was 3% below estimate at 0.80bcm (down 1% YoY on customer offtake issues). NRL’s EBITDA fell 46% QoQ to Rs4bn, largely on lower basic GRM of USD2.3/bbl (impacted by inventory loss of USD4.5/bbl). Management guided to o...
Buy Oil India Ltd For Target Rs.665 By Emkay Global Financial Services
Core story intact; attractively priced * Oil India (OINL)’s 2QFY25 financial result was a miss at the EBITDA level and following the conference call, we cut our FY25/26 PAT by 2/5%, mainly as we moderate our volume growth assumptions. The core story still largely remains intact – Numaligarh Refinery Limited (NRL)’s expanded capacity is on track for commissioning in FY26 and Indradhanush Gas Grid phase I has already achieved mechanical completion. Despite a marginal c...
Buy Oil India Ltd For Target Rs.660 By Motilal Oswal Financial Services Ltd
EBITDA miss on lower production and sales of both oil and gas Oil India’s earnings saw lower-than-estimated EBITDA and PAT on weaker volumes while the realizations in line with expectations. Crude production & natural gas both experienced YoY and QoQ increase (but was lower than the company target due to less than planned workover wells & lower offtake by customers. Depreciation, finding cost, and statutory levies showed marginal increase, other expenses were higher than expe...
Buy Oil India Ltd For Target Rs. 710 by Yes Securities Ltd
Oil India CMD Ranjit Rath said on Thursday that Public Sector Enterprises (PSEs) have a responsibility of not only running a business but doing so with the intent of serving social commitments. Addressing the plenary session at the CII PSE Summit here, the OIL Chairman said: "The collective procurement of PSEs has a huge bearing on the Indian economy. Whether it is for oil & gas, steel, coal, or large-scale equipment, PSEs not only facilitate the manufacturing ecosystem...
PSEs are helping small firms to scale up: OIL CMD
Earnings miss on lower volume & realisation; weak show by NRL too Oil India’s 2QFY25 standalone EBITDA, at INR 24.8bn, was significantly lower than JMFe of INR 28.3bn (and slightly lower than consensus of INR 25.2bn) due to lower crude & gas sales volume and net crude realisation. Hence, PAT, at INR 18.3bn, was also lower than JMFe of INR 20.7bn (though in line with consensus of INR 18.1bn) with higher dry-well write-off partly offset by higher other income and lower taxes. F...
Buy Oil India Ltd For Target Rs.685 By JM Financial Services
Oil India is currently trading at Rs. 529.20, up by 33.75 points or 6.81% from its previous closing of Rs. 495.45 on the BSE. The scrip opened at Rs. 502.05 and has touched a high and low of Rs. 531.05 and Rs. 495.60 respectively. So far 186505 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 767.30 on 30-Aug-2024 and a 52 week low of Rs. 195.93 on 28-Nov-2023. Last one week high and low of the scrip stood at Rs...
Oil India zooms on reporting over 3-fold jump in Q2 consolidated net profit
Bharat Petroleum Corporation is currently trading at Rs. 307.80, up by 1.85 points or 0.60% from its previous closing of Rs. 305.95 on the BSE. The scrip opened at Rs. 306.35 and has touched a high and low of Rs. 315.30 and Rs. 306.30 respectively. So far 63759 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 376.00 on 30-Sep-2024 and a 52 week low of Rs. 167.00 on 27-Oct-2023. Last one week high and low of the ...
BPCL moves up on getting nod to enter into JV agreement with Oil India
Asian Energy Services is currently trading at Rs. 367.80, up by 0.75 points or 0.20% from its previous closing of Rs. 367.05 on the BSE. The scrip opened at Rs. 374.40 and has touched a high and low of Rs. 379.35 and Rs. 366.00 respectively. So far 5779 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 444.35 on 27-Aug-2024 and a 52 week low of Rs. 168.50 on 22-Nov-2023. Last one week high and low of the scrip st...
Asian Energy Services rises on winning order from Oil India
Fortifying growth through integrated expansion Oil India Limited (OIL) remains a key player as a leading integrated company across the energy value chain in India. The company is on track to meet its ambitious target of 4mmt of oil and 5bcm of gas production by FY26, backed by accelerated drilling activities in its rich Baghjan field, which will see the number of wells increase from 61 to ~80 in FY25 and 100 by FY27. The company is positioned to capitalize on favorable pricing with crude e...
Buy Oil India Ltd For Target Rs. 833 By Yes Securities Ltd.
Upside risk on volumes key to sustaining valuations * Oil India (OINL)’s 1QFY25 EBITDA came in line at INR24.7b (up 6% YoY), due to 12%/24% YoY growth in oil/gas sales and a healthy net oil realization of USD74.3/bbl. OINL’s oil/gas production stood at 0.87mmt/0.82bcm, up 6%/9.8% YoY, respectively. However, reported PAT was 20% below our estimate at INR14.7b, due to lower-than-expected other income. * In the 1Q Earnings Call, Oil India (OINL) management reiterated its target...
Buy Oil India Ltd for Target Rs.740 By Motilal Oswal Financial Services Ltd
EBITDA miss on lower crude realization despite better volumes Our View Oil India’s earnings saw lower-than-estimated EBITDA and PAT on weaker crude realizations while the volumes for both oil & gas stood better than expectations. Crude production & natural gas both experienced YoY and QoQ increase while the sales volume grew higher than the production as the ratio improved especially for gas which added to strong volumes. Depreciation, finding cost, and statutory levies s...
Buy Oil India Ltd For Target Rs. 855 By Yes Securities
The consumption of natural gas in India went up 7.1 per cent in June to 5,594 million metric standard cubic metres (MMSCM), this year compared to the same month last year, as more households across the country are using the fuel for cooking; the demand is also rising in the urban transport segment, according to data compiled by the Ministry of Petroleum and Natural Gas. While there was an increase of 2.9 per cent in domestic gas production to 2,993 MMSCM during the month, which helpe...
Consumption of natural gas rises by 7 pc in June as more Indians switch to green fuel
Oil India Limited (OIL) has reported a 17 per cent increase in consolidated net profit at Rs 2332.94 crore in the Jan-March quarter of the financial year 2023-24 compared to the corresponding figure of Rs 1,979.74 crore in the same period of 2022-23. The upstream oil exploration and production company has registered revenue from operations at Rs 10,166 crore, up around 16 per cent from the same quarter last year. Oil India’s Board of Directors have recommended the issue of bonus s...
Oil India posts 17 pc jump in Q4 net profit
The Central government has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from Thursday, as part of its fortnightly revision that is calibrated with global prices. This is the second fortnightly cut in windfall tax in a row after a Rs 8,400 per metric ton reduction from Rs 9,600 on May 1. Upstream oil exploration and production companies ONGC and Oil India Ltd will gain as they will have to pay a lower tax on their crude oil...
ONGC, Oil India to get relief as Centre cuts windfall tax on crude oil
The Government has cut the windfall tax on crude oil to Rs 8,400 a metric ton from Rs 9,600 with effect from Wednesday as part of its fortnightly revision. Upstream oil exploration and production companies ONGC and Oil India Ltd stand to gain as they will have to pay a lower tax on their crude. The reduction in the windfall tax has been announced in view of the decline in crude oil prices in the market which means the upstream oil companies are not making as much money as they were earl...
Government cuts windfall tax on crude oil, ONGC, OIL India Ltd to gain
IOCL reported a sizable earnings beat in Q3FY24, driven by the inventory gains surprise (refining at USD3.5/bbl vs est. USD2.5 loss). SA adj. EBITDA came in at Rs158.9bn. Core GRM was in line, at USD10/bbl. Marketing segment could also have logged inventory gains. Blended marketing margin was better, albeit largely offset by higher opex, with core EBITDA being inline. Domestic sales grew 1% YoY, while diesel was down 6% (below industry). Petchem EBIT turned negative at Rs2bn, due to lower del...
Add Indian Oil Ltd. For Target Rs.: 160 - Emkay Global
Production set to trailblaze Earnings decline led by lower realization Oil India (OINL IN) reported an EBITDA of INR 21.1bn, lower than INR 24.4bn estimated. EBITDA declined 26%/15% YoY/QoQ, led by a YoY drop in oil & gas realization and INR 2.4bn provision for GST demand. PAT declined 9% YoY to INR 15.8bn (Elara: INR 17.0bn). Crude ...
Buy Oil India Ltd. For Target Rs.685 By Elara Capital
Oil India plans to start its 180,000 barrels per day (bpd) Numaligarh refinery in the northeastern state of Assam by December 2025, its chairman Ranjit Rath said on Wednesday. The company will set up a trading desk as the refinery would process 110,000 bpd of imported crude, Rath said, adding that the remaining crude requirement would be met through local production. Oil India, which operates exploration and production assets mostly in the northeastern part of the country, would export ...
Oil India plans to start Numaligarh refinery by December 2025, chairman says
Significant volume growth on the horizon Quick Pointers: ? Net oil realization post windfall tax stood at US$74.3/bbl, while gas realization came in at US$6.5/mmBtu ? Volume growth is expected to come primarily from the Baghjan field; where the company aims to drill ~75 wells in FY25 Oil India’s (OINL) reported an EBITDA of Rs 21.1 bn (-15% QoQ, PLe: Rs 25.2 bn). Adj PAT came in at Rs 15.8 bn ( -41% QoQ, PLe: Rs 15.1 bn) on standalone basis. Decline in PAT was on accoun...
Accumulate Oil India Ltd. For Target Rs.538 By Prabhudas Lilladher Pvt. Ltd.
India expects investment of about 410 billion rupees ($4.95 billion) from companies to build natural gas pipeline infrastructure in its northeastern states and northern federal territories of Kashmir and Ladakh, a minister said on Monday. India, one of the world's biggest emitters of greenhouse gases, is seeking to boost the use of cleaner fuel to cut its carbon emissions and has set a 2070 goal for net zero carbon emissions. Prime Minister Narendra Modi is targeting raising the sha...
India sees $4.95 billion investment for natural gas network in Kashmir, northeast
Oil India is currently trading at Rs. 575.55, up by 7.85 points or 1.38% from its previous closing of Rs. 567.70 on the BSE. The scrip opened at Rs. 574.80 and has touched a high and low of Rs. 582.95 and Rs. 563.00 respectively. So far 106416 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 630.00 on 20-Feb-2024 and a 52 week low of Rs. 238.25 on 27-Feb-2023. Last one week high and low of the scrip stood at Rs....
Oil India rises on inking tripartite MoU with NCS, CES & HS
Oil India Limited (OIL), India's youngest Maharatna central public sector enterprise, has announced its first-ever global partner roadshow: "Confluence: Where Energy and Opportunity Converge" which is scheduled to take place on 28th February at Abu Dhabi in the UAE. The Ministry of Petroleum and Natural Gas said that the event, which is expected to attract over 50 leading companies from the energy services industry, signals OIL's commitment to aggressive growth and intern...
Oil India Ltd to hold global partner roadshow in UAE
Oil India Limited (OIL) on Thursday signed a Memorandum of Understanding (MoU) with The Fertilisers and Chemicals Travancore Limited (FACT), a public sector company, to explore opportunities in the domain of green hydrogen, including green ammonia, green methanol and other derivatives. The two companies will also collaborate in decarbonising initiatives like carbon dioxide sequestration, and partner in any other potential avenues for decarbonisation/clean energy transition/green fuels/rene...
Oil India inks pact for green hydrogen tie-up with Fertilisers and Chemicals Travancore
Oil India is currently trading at Rs. 568.00, up by 69.05 points or 13.84% from its previous closing of Rs. 498.95 on the BSE. The scrip opened at Rs. 506.10 and has touched a high and low of Rs. 575.45 and Rs. 503.80 respectively. So far 880431 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 575.45 on 15-Feb-2024 and a 52 week low of Rs. 238.25 on 27-Feb-2023. Last one week high and low of the scrip stood at R...
Oil India zooms on reporting marginal rise in Q3 consolidated net profit
State-run explorer Oil India reported a 9.3% fall in third-quarter profit on Tuesday, hit by lower prices for crude oil and a windfall tax levied by the government. Standalone profit was 15.84 billion rupees ($191 million) for the quarter ended Dec. 31, compared with 17.46 billion rupees a year earlier. Average crude prices fell 6.5% in the December quarter, as per LSEG data. The Indian government's windfall tax on crude oil producers since July 2022 has also hurt its bottom line. ...
State-backed Oil India`s third-quarter profit falls on lower crude prices
The Assam government will host a steam boiler expo in February with an aim to attract industry players for investment in the state, officials said. An official statement mentioned that the event is a dynamic collaboration with industry giants such as Indian Oil Corporation Limited (IOCL), Oil India Limited (OIL), Numaligarh Refinery Ltd. (NRL), Brahmaputra Cracker and Polymer Ltd. (BCPL), Assam Petro Chemicals and NTPC limited. The Expo will witness active participation from leading manufa...
Assam to hold boiler expo to attract investments
E & P track record augurs well Oil India Limited (OINL) is India’s second largest oil and gas company, contributing ~10% of the nation’s crude oil production. It is fully integrated in upstream activities and has a track record of exploration and production activities. OINL has secured participating interest in 8 countries. It operates 1,157km crude pipeline in NE India to feed refineries in the region; it has also developed 660km pipeline from Numaligarh to Siliguri. Furth...
Add Oil India Ltd Ltd For Target Rs.408 - Yes Securities Ltd
Oil India is currently trading at Rs. 378.85, up by 4.80 points or 1.28% from its previous closing of Rs. 374.05 on the BSE. The scrip opened at Rs. 378.95 and has touched a high and low of Rs. 381.55 and Rs. 375.45 respectively. So far 28433 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 406.00 on 20-Dec-2023 and a 52 week low of Rs. 208.80 on 09-Jan-2023. Last one week high and low of the scrip stood at Rs. ...
Oil India moves up on inking joint venture agreement with Assam Power Generation Corporation
OIL reported a 9% beat in Q2FY24 S/A adj. EBITDA at Rs26.3bn, led by 4% revenue beat on higher sales to production ratio and lower opex, while APAT stood at Rs20.2bn, a 16% beat accentuated by higher other income. RPAT, however, slumped to Rs3.3bn due to a one-time provision of Rs23.6bn for GST on royalty, similar to ONGC (in Q4FY23). Crude production was in-line at 0.83mmt (up 6% YoY), while gas was 3% beat at 0.81bcm (down 2% YoY). NRL’s operations resumed post the shutdown; with more...
Buy Oil India Ltd For Target Rs.370 - Emkay Global
The central government has reduced the windfall tax on domestic crude oil with effect from October 18 from Rs 12,200 a tonne to Rs 9,050 in its fortnightly review which will benefit upstream oil companies, including ONGC and Oil India Ltd (OIL).The windfall tax on petroleum crude was raised to Rs 12,100 a ton from Rs 10,000 with effect from September 30 as oil prices at the time had soared to $95 a barrel. Oil prices came down but have started heading north again in the wake of the Israel-Ham...
ONGC, OIL to gain as Government cuts windfall tax on crude oil
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