External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>OIL India delivered a relatively muted Q3, with a 4%/23% YoY decline in standalone EBITDA/PAT to INR 22.6/INR 12.2bn, missing I-Sec’s estimates of INR 25.9/INR 16.2bn.</li><li>Higher forex loss, lower other income and marginally lower gas realisations dragged earnings in Q3. Consol.</li><li>EBITDA/PAT of INR 26.8/INR 14.6bn also declined sharply by 22%/44% with NRL seeing a USD 10.7/bbl YoY dip in net GRMs (net of inventory losses and excise duty benefit) to USD 2.1/bbl for Q3. Oil + gas output of 1.7mtoe grew 1% YoY, with stronger growth ahead, driven by: 1) NRL expansion by 6mt, creating ~1,5_mmscmd demand; 2) commissioning of the IGGL pipeline, opening up multiple avenues of gas demand; and 3) aggressive drilling across seven identified areas, which should deliver stronger oil and gas output growth.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

OIL India delivered a relatively muted Q3, with a 4%/23% YoY decline in standalone EBITDA/PAT to INR 22.6/INR 12.2bn, missing I-Sec’s estimates of INR 25.9/INR 16.2bn.Higher forex loss, lower other income and marginally lower gas realisations dragged earnings in Q3. Consol.EBITDA/PAT of INR 26.8/INR 14.6bn also declined sharply by 22%/44% with NRL seeing a USD 10.7/bbl YoY dip in net GRMs (net of inventory losses and excise duty benefit) to USD 2.1/bbl for Q3. Oil + gas output of 1.7mtoe grew 1% YoY, with stronger growth ahead, driven by: 1) NRL expansion by 6mt, creating ~1,5_mmscmd demand; 2) commissioning of the IGGL pipeline, opening up multiple avenues of gas demand; and 3) aggressive drilling across seven identified areas, which should deliver stronger oil and gas output growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Oil India - Q3FY25: Muted Performance, Driven by Forex and Weaker NRL

Oil India Ltd

Oil India - Q3FY25: Muted Performance, Driven by Forex and Weaker NRL