Oil India reported 51% increase in topline to Rs 3743.58 crore in Q2FY'19 compared to corresponding previous year period mainly because of 47% higher crude oil realisation in USD to USD 73.42 per barrel as well as 60% in rupee terms to Rs 5150.41 per barrel. On a segment basis Crude oil sales rose 57% to Rs 3040.3 crore while gas revenues were up 34% to Rs 501.34 crore. LPG revenues were up 47% to Rs 40.85 crore while pipeline transportation income was up 7% to Rs 99.7 crore over the same period, renewable energy segment rose 40% to Rs 56.42 crore and other segment income rose 15% to Rs 4.97 crore. Bottomline of the company was Rs 862.01 crore compared to Rs 645.97 crore, up by 33%. Crude oil production was flat at 0.856 MMT and natural gas production fell 4% to 0.734 BCM. OPM fell 150 bps to 39.4% leading to 46% increase in operating profits to Rs 1474.62 crore. Employee benefit expense as a percentage of adjusted net sales decreased to 11% from 18%, contract cost was down to 7% from 8%, consumption of stores and spares decreased to 1% from 2%, while royalty and cess payments rose to 28% from 27% and other expenses increased to 12% from 5%. Other income fell 13% to Rs 287.83 crore. Interest cost was Rs 125.68 crore compared to Rs 105.77 crore while depreciation cost (including depreciation, depletion and write offs) increased 13% to Rs 365.58 crore. PBT as a result rose 39% to Rs 1271.19 crore. Tax expense was Rs 409.18 crore compared to tax expense of Rs 267.61 crore, up by 53%. Bottomline of the company was Rs 862.01 crore compared to Rs 645.97 crore, up by 33%. For half year ended September 2018 Oil India revenues rose 48% to Rs 7134.04 crore while bottom-line of the company was rose 43% to Rs 1565.23 crore. Net realisation of crude oil in rupee terms was up 57% at Rs 4988.47 per barrel. Crude oil production was flat at 1.7 MMT while Natural gas production was down 4% to Rs 1.43 BCM In dollar terms OIL gross crude oil realisation was up 48% to USD 72.75 per barrel. Average Natural gas price realisation during H1 FY2018-19 was US$ 3.06/MMBTU as compared to US$ 2.48/MMBTU in H1 FY2017-18. OPM was up 120 bps to 40.4% leading to 53% increase in operating profits to Rs 2883.02 crore. Other income fell 15% to Rs 414.6 crore. Interest cost was Rs 238.1 crore compared to Rs 205.66 crore while depreciation cost (including depreciation, depletion and write offs) increased 14% to Rs 702.82 crore. PBT as a result rose 52% to Rs 2356.7 crore. Tax expense rose 74% to Rs 791.47 crore. Bottomline of the company rose 43% to Rs 1565.23 crore. The scrip is currently trading at Rs 200. Oil India: Standalone Results Particulars | 1809 (3) | 1709 (3) | Var (%) | 1809 (6) | 1709 (6) | Var (%) | 1803 (12) | 1803 (12) | Var (%) | Net Sales | 3743.58 | 2473.74 | 51 | 7134.04 | 4805.48 | 48 | 10656.47 | 9510.39 | 12 | OPM (%) | 39.4 | 40.9 | | 40.4 | 39.3 | | 36.7 | 32.6 | | OP | 1474.62 | 1012.19 | 46 | 2883.02 | 1886.30 | 53 | 3911.32 | 3104.81 | 26 | Other Income | 287.83 | 330.99 | -13 | 414.60 | 484.95 | -15 | 1484.17 | 1680.68 | -12 | PBDIT | 1762.45 | 1343.18 | 31 | 3297.62 | 2371.25 | 39 | 5395.49 | 4785.49 | 13 | Interest | 125.68 | 105.77 | 19 | 238.10 | 205.66 | 16 | 415.68 | 396.71 | 5 | PBDT | 1636.77 | 1237.41 | 32 | 3059.52 | 2165.59 | 41 | 4979.81 | 4388.78 | 13 | Depreciation | 365.58 | 323.83 | 13 | 702.82 | 614.10 | 14 | 1270.01 | 1090.73 | 16 | PBT before EO | 1271.19 | 913.58 | 39 | 2356.70 | 1551.49 | 52 | 3709.80 | 3298.05 | 12 | EO | 0.00 | 0.00 | | 0.00 | 0.00 | | 0.00 | 1151.73 | | PBT after EO | 1271.19 | 913.58 | 39 | 2356.70 | 1551.49 | 52 | 3709.80 | 2146.32 | 73 | Tax | 409.18 | 267.61 | 53 | 791.47 | 455.28 | 74 | 1041.87 | 597.64 | 74 | PAT | 862.01 | 645.97 | 33 | 1565.23 | 1096.21 | 43 | 2667.93 | 1548.68 | 72 | EPS (Rs)* | 30.4 | 22.8 | | 27.6 | 19.3 | | 23.5 | 23.8 | | * Annualized on current equity of Rs 1134.9 crore. Face Value: Rs 10 Var. (%) exceeding 999 has been truncated to 999 LP: Loss to Profit PL: Profit to Loss EO: Extraordinary items; FBT: Fringe Benefit Tax EPS is calculated after excluding EO and relevant tax Figures in Rs crore Source: Capitaline Corporate Database |
Oil India: Standalone Segment Results Particulars | 1809 (3) | 1709 (3) | (%) of Total | Var (%) | 1809 (6) | 1709 (6) | (%) of Total | Var (%) | 1803 (12) | 1803 (12) | (%) of Total | Var (%) | Segment Revenue | | | | | | | | | | | | | Crude oil | 3040.30 | 1934.57 | 81 | 57 | 5818.09 | 3750.23 | 82 | 55 | 8499.84 | 7274.91 | 80 | 17 | Natural gas | 501.34 | 373.54 | 13 | 34 | 944.42 | 727.63 | 13 | 30 | 1531.35 | 1641.40 | 14 | -7 | LPG | 40.85 | 27.84 | 1 | 47 | 69.16 | 45.75 | 1 | 51 | 120.88 | 103.34 | 1 | 17 | Pipeline Transportation | 99.70 | 93.17 | 3 | 7 | 189.52 | 189.81 | 3 | 0 | 365.58 | 356.18 | 3 | 3 | Renewable Energy | 56.42 | 40.29 | 2 | 40 | 103.36 | 83.27 | 1 | 24 | 120.82 | 116.92 | 1 | 3 | Others | 4.97 | 4.33 | 0 | 15 | 9.49 | 8.79 | 0 | 8 | 18.00 | 17.64 | 0 | 2 | Total | 3743.58 | 2473.74 | 100 | 51 | 7134.04 | 4805.48 | 100 | 48 | 10656.47 | 9510.39 | 100 | 12 | | | | | | | | | | | | | | Segment Results | | | | | | | | | | | | | Crude oil | 1307.34 | 707.95 | 86 | 85 | 2443.04 | 1306.46 | 88 | 87 | 2876.21 | 893.70 | 85 | 222 | Natural gas | 161.43 | 123.61 | 11 | 31 | 280.40 | 218.84 | 10 | 28 | 456.14 | 446.79 | 13 | 2 | LPG | 21.89 | 12.83 | 1 | 71 | 29.91 | 19.90 | 1 | 50 | 63.93 | 51.09 | 2 | 25 | Pipeline Transportation | (11.68) | 8.74 | -1 | -234 | (37.73) | 25.67 | -1 | -247 | (46.88) | 72.56 | -1 | -165 | Renewable Energy | 32.53 | 14.83 | 2 | 119 | 40.37 | 36.97 | 1 | 9 | 18.59 | 27.78 | 1 | -33 | Others | 3.68 | 4.29 | 0 | -14 | 7.19 | 7.38 | 0 | -3 | 12.30 | 11.95 | 0 | 3 | PBIT | 1515.19 | 872.25 | 100 | 74 | 2763.18 | 1615.22 | 100 | 71 | 3380.29 | 1503.87 | 100 | 125 | | | | | | | | | | | | | | Capital Employed | | | | | | | | | | | | | Crude oil | 6593.52 | 6099.99 | 24 | 8 | 6593.52 | 6099.99 | 24 | 8 | 6480.68 | 5535.43 | 23 | 17 | Natural gas | 4081.19 | 3533.44 | 15 | 16 | 4081.19 | 3533.44 | 15 | 16 | 4180.67 | 3264.93 | 15 | 28 | LPG | 47.66 | 46.61 | 0 | 2 | 47.66 | 46.61 | 0 | 2 | 49.60 | 47.30 | 0 | 5 | Pipeline Transportation | 1134.83 | 1196.49 | 4 | -5 | 1134.83 | 1196.49 | 4 | -5 | 1169.41 | 1167.15 | 4 | 0 | Renewable Energy | 822.44 | 676.88 | 3 | 22 | 822.44 | 676.88 | 3 | 22 | 860.25 | 664.31 | 3 | 29 | Others | 6.04 | 0.97 | 0 | 523 | 6.04 | 0.97 | 0 | 523 | 9.01 | 3.72 | 0 | 142 | Unallocated | 15029.36 | 17708.06 | 54 | -15 | 15029.36 | 17708.06 | 54 | -15 | 15159.79 | 18407.65 | 54 | -18 | Total | 27715.04 | 29262.44 | 100 | -5 | 27715.04 | 29262.44 | 100 | -5 | 27909.41 | 29090.49 | 100 | | Source: Capitaline Corporate Database |
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