Oil India Q4 Review - Surge In Oil Price To Drive Strong Rebound: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Oil India Ltd.’s Q4 FY21 recurring standalone earnings per share was in the black versus in the red in Q4 FY20, driven by oil price and dividend rise. Q4 consolidated recurring earnings was up 77% YoY due to jump in share of profit in Numaligarh Refinery Ltd. on increase in stake. We have raised FY22-FY23E brent estimate by 13-8% to $67.5-65/barrel of oil and administered pricing mechanism gas price estimate by 4-37% to $2.6-4.25/metric million British thermal unit to factor the rise in underlying gas prices. Factoring oil and gas price based on futures and higher gross refining margin for Numaligarh Refinery would mean further upside to FY22-FY23E earnings per share of 14-5% and to future value of 8%. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Oil India Q4 Review - Surge In Oil Price To Drive Strong Rebound: ICICI Securities

Oil India Q4 Review - Surge In Oil Price To Drive Strong Rebound: ICICI Securities

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