Prabhudas Lilladher has given Buy recommendation for Oil India with a target price of Rs. 351 in its research report issued on Feb 14, 2022

Prabhudas Lilladher’s research report on Oil India

We maintain our FY22-24E estimates, as OINL reported strong operational results in Q3 with consolidated EBIDTA/PAT of Rs21.9bn (-5%Q/Q) and Rs15.2bn (+5%Q/Q). Standalone EBIDTA/PAT was at Rs12.7bn (+39%Q/Q PLe Rs17.0bn) and Rs12.5bn (+144% Q/Q; PLe Rs9.0bn). We believe OINL’s earnings will ride on improving crude oil and gas realization, along with expansion of Numaligarh refinery (NRL) by 6MTPA (3MTPA capacity), which will increase consolidated FY25E EBIDTA by ~2.7x to Rs157bn.

Outlook

Maintain ‘BUY’ with TP of Rs351, based on 5x/EV/E FY23E and add value of investment in IOCL.

More Info on Trent

At 13:38 hrs Oil India was quoting at Rs 227.00, up Rs 1.30, or 0.58 percent.

It has touched an intraday high of Rs 229.95 and an intraday low of Rs 224.80.

It was trading with volumes of 24,668 shares, compared to its thirty day average of 98,763 shares, a decrease of -75.02 percent.

In the previous trading session, the share closed down 1.61 percent or Rs 3.70 at Rs 225.70.

The share touched its 52-week high Rs 267.70 and 52-week low Rs 112.00 on 01 October, 2021 and 12 April, 2021, respectively.

Currently, it is trading 15.2 percent below its 52-week high and 102.68 percent above its 52-week low.

Market capitalisation stands at Rs 24,616.00 crore.

Leave a Reply

Your email address will not be published.