Any current/future new fundraising through debt or equity?

Current debt primarily relates to the Mozambique project; no new major debt raised for other purposes recently. Domestic loan for Numaligarh Refinery acquisition (Rs. 1,500 Crores) fully repaid in FY 2022-23. Consolidated debt stands around Rs. 18,000 Crores, including approximately Rs. 3,000 Crores for Numaligarh Refinery and USD 500 million at the Singapore level. Debt-equity ratio improved to ~35% as of 31.03.2023; company has strong liquidity with an EBITDA/Interest coverage ratio of 18 times. Most capex and investments being funded internally through accruals. No specific announcements on

Any current/future capex/capital investment/strategic investment?

Current capex includes investments in net zero initiatives and sustainable business models, such as recycling formation water in production processes. Exploration expenditure: About 30-40% of capex is allocated to survey and exploratory drilling, targeting 75-80 wells in the next two years. Abandoned wells at 1000-1200 meters are being evaluated for CO2 sequestration and enhanced oil recovery (EOR), with capex planning expected in 1-2 years. Planned investments in petrochemical projects leveraging common utilities from refinery expansion for cost and timeline benefits, with investment de

Future growth expectations in sales/revenue/volumes?

Crude oil production increased from 2.96 MMT (2021) to 3.18 MMT (2022-23), showing ~7% growth. Natural gas production grew from 2.64 BCM (2021) to 3.18 BCM (2022-23), approx. 20% increase. Target to achieve 4 million tonnes of crude oil production under Mission 4 in coming years. Annual exploration plan includes drilling 75-80 wells over the next two years, including development of deeper and shallower wells. Implementation of enhanced oil recovery (EOR) techniques like cyclic steam stimulation and CO2 injection expected to boost production. Revenue in FY 2022-23 reached around Rs. 25,000 Cror

Future growth expectations in earnings/operating earnings/profits/EPS?

Financial year 2022-23 saw a significant performance with revenue nearly Rs. 25,000 Crores and PAT of Rs. 6,810 Crores, a 75% growth over the previous year. EBITDA increased from Rs. 7,266 Crores to Rs. 11,000 Crores with a margin rise to 45%. Earnings Per Share (EPS) rose from Rs. 35.85 to Rs. 62.80 in FY 2022-23, indicating strong profitability growth. The company declared a dividend of Rs. 20 per share, up from Rs. 15.45 last year, reflecting confidence in sustained earnings. Crude oil production increased by 5.48% to 3.18 MMT, and natural gas production by 4.43% to 3.18 BCM, suppor

Oil India LtdQ4 FY23Oil

Oil India Ltd Q4 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹454P/E: 8.9Market Cap: ₹73.8K CrSector: Oil

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Crude oil production increased from 2.96 MMT (2021) to 3.18 MMT (2022-23), showing ~7% growth.
Natural gas production grew from 2.64 BCM (2021) to 3.18 BCM (2022-23), approx. 20% increase.
Target to achieve 4 million tonnes of crude oil production under Mission 4 in coming years.
Annual exploration plan includes drilling 75-80 wells over the next two years, including development of deeper and shallower wells.
Implementation of enhanced oil recovery (EOR) techniques like cyclic steam stimulation and CO2 injection expected to boost production.
Revenue in FY 2022-23 reached around Rs. 25,000 Crores with EBITDA margin increasing to 45%.
Group total income is Rs. 41,758 Crores with profit after tax at Rs. 9,854 Crores.
EPS targeted to improve further from Rs. 80 per share at group level.
Emphasis on diversification via upstream, midstream, downstream, and alternate energy segments to sustain growth.

Margin guidance

Category 3

Financial year 2022-23 saw a significant performance with revenue nearly Rs. 25,000 Crores and PAT of Rs. 6,810 Crores, a 75% growth over the previous year.
EBITDA increased from Rs. 7,266 Crores to Rs. 11,000 Crores with a margin rise to 45%.
Earnings Per Share (EPS) rose from Rs. 35.85 to Rs. 62.80 in FY 2022-23, indicating strong profitability growth.
The company declared a dividend of Rs. 20 per share, up from Rs. 15.45 last year, reflecting confidence in sustained earnings.
Crude oil production increased by 5.48% to 3.18 MMT, and natural gas production by 4.43% to 3.18 BCM, supporting revenue growth.
Highest ever pipeline throughput and refinery utilization (103%) add operational leverage, likely boosting future profits.
Continued focus on enhanced oil recovery, exploration, and diversified energy investments positions the company for steady EPS growth moving forward.

See what Oil India Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Current debt primarily relates to the Mozambique project; no new major debt raised for other purposes recently.
Domestic loan for Numaligarh Refinery acquisition (Rs. 1,500 Crores) fully repaid in FY 2022-23.
Consolidated debt stands around Rs. 18,000 Crores, including approximately Rs. 3,000 Crores for Numaligarh Refinery and USD 500 million at the Singapore level.
Debt-equity ratio improved to ~35% as of 31.03.2023; company has strong liquidity with an EBITDA/Interest coverage ratio of 18 times.
Most capex and investments being funded internally through accruals.
No specific announcements on plans for fresh equity fundraising.
Company retains a strong propensity for additional debt raising if required, but no explicit plans shared for new fundraising via debt or equity in near term.

Order book

The provided transcript from Oil India Limited's Investors and Analysts Meet (dated 02.06.2023) does not explicitly mention details regarding current or expected order books or pending orders. The discussion primarily focuses on topics such as: - Exploration budgets for drilling. - Development plans for natural gas and oil targets. - Progress and plans on refinery expansion and petrochemical projects. - Updates on pilot hydrogen plant economics. - Queries related to financial performance and strategic initiatives. No direct information about the size or status of current or pending orders was shared in the available content on these pages.

See what Oil India Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Current capex includes investments in net zero initiatives and sustainable business models, such as recycling formation water in production processes.
Exploration expenditure: About 30-40% of capex is allocated to survey and exploratory drilling, targeting 75-80 wells in the next two years.
Abandoned wells at 1000-1200 meters are being evaluated for CO2 sequestration and enhanced oil recovery (EOR), with capex planning expected in 1-2 years.
Planned investments in petrochemical projects leveraging common utilities from refinery expansion for cost and timeline benefits, with investment decisions expected soon.
Mozambique LNG project funding ongoing; other capex and investments are primarily funded from internal accruals.
Future 5-year capex will have a higher proportion dedicated to renewables and net zero projects, anticipating alignment with emerging policies and thermal power plant collaborations.
Overall, the strategic roadmap targets diversification, production enhancement, and a balanced upstream-midstream-downstream and alternate energy portfolio through 2040.

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Oil India Ltd Q4 FY23 Earnings Call Analysis

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