Nayara Energy Annual Report Analysis - Public Sector OMCs' Dominance To Sustain: Prabhudas Lilladher
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Prabhudas Lilladher Report
Nayara Energy Ltd. (erstwhile Essar Oil Ltd.) FY21 annual report throws interesting light on the fuel retailing Industry in India.
With 6,059 retail outlets as on FY21 end, Nayara Energy is India’s largest private fuel retailer with 6.1% market share.
It’s FY21 retail volumes were up 3% YoY versus 9%YoY industry de-growth due to pandemic and segment Ebitda was at $410 million.
The company plans to increase the retail store count to 7,600 over next three years.
We believe, despite rising competition from private players, oil marketing companies with over 90% of India’s retail infrastructure will continue to dominate the business -to-consumer space.
The private players will target highways and markets closer to Gujarat given the proximity to their refineries.
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