The general evaluation of OIL INDIA (IN), a company active in the Exploration & Production industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date February 1, 2022, the closing price was INR 233.75 ...
OIL INDIA: Baghjan field is back on its feet – stable outlook ahead (OINL IN, Mkt Cap USD2.4b, CMP INR166, TP INR200, 20% Upside, Buy) OINL reported volume is in line with our estimate, while lower opex led to the EBITDA beat. The management said majority of the gas production is accruing from the Baghjan field currently as the fire-related issues are resolved. It is targeting ~5mmscmd of gas from this field (up from the current production of 1.6-1.8mmscmd) over the next 3-5 years. It ha...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Long-Term Bullish Inflections For Hang Seng, DAX, MSCI EM, & Bloomberg Commodity Index The number of major country indexes showing major bullish inflections continues to grow, while the number of countries making bearish inflections remains at zero. Broad commodities (Bloomberg Commodity index) also display a bullish reversal topside a 12.5-year downtrend. This type of evidence helps affirm our bullish outlook and suggests higher prices are ahead. Continue to add exposure on pullbacks. · ...
OIL INDIA: EBITDA miss driven by employee cost provisioning (OINL IN, Mkt Cap USD2.5b, CMP INR165, TP INR216, 31% Upside, Buy) 2QFY20 revenue was 5% higher than est. at INR32.1b (-14% YoY), led by higher gas sale and higher than expected net realization. EBITDA was 12% lower than est. at INR12.4b (-16% YoY) due to higher employee cost (+37% YoY, +21% QoQ). Till 1HFY20, a total provisioning of INR4.4b has been made toward pay revision of Unionized Employees due from 1st Jan'17. Total other e...
OIL INDIA: Lower other expenditure; total sales remain flat (OINL IN, Mkt Cap USD2.3b, CMP INR150, TP INR215, 43% Upside, Buy) 1QFY20 revenue was flat YoY at INR33.7b (in line with est.). EBITDA was 6% higher than est. at INR13.5b (-4% YoY), due to lower total expenditure at USD7.1/boe (v/s USD8.8/boe in 1QFY19 and USD8.9/boe in 4QFY19). PAT was 11% lower YoY at INR6.2b (v/s gain of INR7.0b in 1QFY19 and loss of INR2.0b in 4QFY19, due to one-off exceptional item). Depreciation cost came ...
Oil India: Revenues higher than estimate due to higher oil/gas sales volume (OINL IN, Mkt Cap USD2.9b, CMP INR185, TP INR233, 26% Upside, Buy) Revenue of INR30.9b (+3% YoY, -12% QoQ) exceeded our estimate by 7% due to higher-than-estimated oil and gas sales volumes. EBITDA came in at INR10.8b (+35% YoY, -29% QoQ; 6% beat), led by lower-than-expected statutory levies, partly offset by higher-than-expected other expenditure (USD8.9/boe v/s USD12 in 4QFY18 and USD6.4 in 3QFY19). The company ...
Q3FY19 highlights Adjusted PAT of Rs12.3bn, up 75% yoy, with adj EBITDA of Rs15.6bn growing 23% yoy (IDFCe Rs14.7bn EBITDA, Rs7.5bn PAT). Earnings beat was largely driven by higher other income of Rs6bn (IDFCe Rs2.3bn), even as oil & gas production was below estimates. Oil production of 0.84mt, -3% yoy, was below IDFCe 0.86mt. Gas production of 0.73bcm, down 1%, -1% below estimates. LPG production of 7.82 tmt fell 17% yoy, was well below est of 8.9 tmt. 9MFY19 oil and gas production was at ...
Oil India: Characterized by higher gas revenue, lower tax rate, record-high quarterly PAT (OINL IN, Mkt Cap USD2.7b, CMP INR170, TP INR239, 41% Upside, Buy) Revenue increased 23% YoY (-6% QoQ) to INR35.1b, marginally ahead of our estimate of INR34.5b. Crude oil sales/production ratio stood at 97%, while realization was at USD66.7/bbl (in line with our estimate of USD66.8/bbl; +12% YoY, -9% QoQ). EBITDA grew 24% YoY (+3% QoQ) to INR15.2b (16% ahead of our estimate of INR13.1b), as other ex...
Summary Marketline's Petronet LNG Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Petronet LNG Limited since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the org...
Q2FY19 highlights Adjusted PAT of Rs8.6bn, up 33% yoy, with EBITDA of Rs15.2bn growing 47% yoy (IDFCe Rs16.8bn EBITDA, Rs8.4bn PAT). Miss vs estimates driven by higher opex, even as oil & gas production was marginally ahead of estimates Oil production of 0.86mt, flat yoy, in line. Gas production of 0.73bcm, down 4%, 5% above estimates. LPG production of 8.8 tmt fell 6% yoy but was above est of 8.5 tmt. Oil sales of 0.83mt fell 1% yoy marginally above est of 0.82mt – production to sales rat...
Oil India: EBITDA growth (albeit in-line) restricted by higher other expenditure (OINL IN, Mkt Cap USD3.1b, CMP INR199, TP INR263, 32% Upside, Buy) Revenue increased 51% YoY (+10% QoQ) to INR37.4b, marginally ahead of our estimate of INR35.7b, led by better-than-expected crude oil production and sales. Crude oil sales/production ratio stood at 97% (our estimate: 98%), while realization came in at USD73.4/bbl (our estimate: USD73.7; +47% YoY, +2% QoQ). EBITDA growth was restricted to 46% Y...
Q1FY19 highlights Adjusted PAT of Rs7bn, up 56% yoy, with EBITDA of Rs15.3bn growing 66% yoy (IDFCe Rs16bn EBITDA, Rs10.5bn PAT). Miss vs estimates driven by lower than estimates sales volumes for oil & LPG as well as lower other income Oil production of 0.84mt, flat yoy, in line. Gas production of 0.7bcm, down 4%, also in line with estimates. LPG production of 7.9tmt fell 17% qoq and was below estimates of 9.4tmt. Oil sales of 0.81mt flat yoy but below IDFCe 0.84mt – production to sales r...
Oil India: Results below expectations, EBITDA impacted higher other expenditure (OINL IN,Mkt Cap USD3.4b, CMP INR212, TP INR296, 40% Upside, Buy) OINL’s revenue of INR33.9b (+45% YoY, +13% QoQ) was below our estimate of INR35b, led by lower crude oil sales/production ratio and lower realization. Crude oil sales/production ratio stood at 96% (est. of 98%) and realization stood at USD72/bbl (est. of USD73.8/bb). EBITDA of INR14b (+61% YoY, +76% QoQ), too, was below our estimate of INR15.8b,...
Q4FY18 highlights Adjusted PAT of Rs10bn, down 16% yoy, with adjusted EBITDA of Rs10.6bn growing 39% yoy (IDFCe Rs13.3bn EBITDA, Rs7.5bn PAT). Reported PAT of Rs8.7bn impacted by Rs1.9bn of additional impairment provisions related to overseas assets in Libya/Nigeria and the USA. FY18 EBITDA/PAT of Rs43/28bn grew 27/9% yoy Volume growth missed estimates only a 3% yoy growth in oil prod to 0.83mt (IDFCe 0.85mt), flat gas prod at 0.69bcm (IDFCe 0.75 bcm) and LPG volumes of 9.5kt (flat yoy). FY...
Oil India: EBITDA significantly below estimate led by higher other expense (OINL IN, Mkt Cap USD4.4b, CMP INR221, TP INR279, 34% Upside, Buy) OINL's revenue of INR30b (+23% YoY, +5% QoQ) was in line with our estimate. Reported EBITDA of INR8b (+35% YoY, -35% QoQ) was significantly below our estimate of INR10.5b, led by higher other expenditure of USD11.8/boe v/s USD8.3 in 4QFY17 and USD5.9 in 3QFY18. Other expenditure was higher, mainly due to higher provision of INR3.7b v/s INR498m in 3Q...
Q3FY18 highlights Adjusted PAT of Rs7bn, up 55% yoy, with EBITDA of Rs12.7bn growing 73% yoy (IDFCe Rs12.6bn EBITDA, Rs7bn PAT). Higher production, higher realisations have driven the yoy improvement. Oil production of 0.86mt grew 3% yoy, in line. 9M oil production of 2.6mt has grown 4.8% yoy. Gas production of 0.74bcm was flat yoy for the quarter but 9M production of 2.23bcm has grown marginally by 0.6% yoy. Net oil realisations of US$59.4/bbl was up 21% yoy (in line). 9M average realizati...
oil india: Significantly beat on EBITDA led by higher sales and lower opex (oinl IN, Mkt Cap USD4.4b, CMP INR356, TP INR425, 19% Upside, Buy) OINL’s revenue of INR28.5b (+20% YoY, +15% QoQ) was ahead of our estimate of INR27.2b, led by higher-than-expected sales. Reported EBITDA of INR12.2b (+84% YoY, +21% QoQ) was significantly above our estimate of INR10.5b, led by lower other expenditure at USD5.9/boe v/s USD8.8/boe in 3QFY17 and USD4.6/boe in 2QFY18. PAT came in at INR7.1b (in-line; +...
​Oil india: EBITDA significantly above estimate led by lower opex(OINL IN, Mkt Cap USD4.4b, CMP INR363, TP INR418, 15% Upside, Buy)OINL’s revenue of INR24.7b (+6% YoY, +6% QoQ) was ahead of our estimate of INR23.1b, led by a higher sales-to-production ratio. Reported EBITDA of INR10.1b (+21% YoY, +16% QoQ) was significantly above our estimate of INR7.6b, led by lower other expenditure at USD4.7/boe v/s USD6.8/boe in 2QFY17 and USD5.4/boe in 1QFY18. PAT came in at INR6.5b (est. of INR5.4b; +1...
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