Hindustan Oil Exploration Company Ltd

Hindustan Oil Exploration Company is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore.

Pros:
Company is virtually debt free.
Company is expected to give good quarter
Cons:
Stock is trading at 3.18 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor growth of -14.82% over past five years.
Tax rate seems low
Company has a low return on equity of 4.12% for last 3 years.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Crude Oil & Natural Gas // Industry: Oil Drilling / Allied Services

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
6 6 5 8 4 8 13 23 35 64 66 71
5 6 4 6 2 1 0 13 9 12 22 19
Operating Profit 1 -1 2 2 1 7 13 10 26 52 44 52
OPM % 11% -17% 33% 27% 38% 86% 97% 42% 73% 81% 66% 73%
Other Income 14 18 4 10 4 3 6 2 4 2 3 4
Interest 0 0 0 0 1 1 1 -3 1 1 1 -2
Depreciation 2 3 2 2 2 4 5 -2 4 10 10 10
Profit before tax 13 13 4 10 3 6 13 16 24 43 35 48
Tax % 28% 3% 0% 0% 0% 0% 0% 0% 4% 0% 0% 0%
Net Profit 9 13 4 10 3 6 13 16 23 43 35 48
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
115 81 85 140 330 151 109 60 40 28 25 49 237
126 60 63 34 86 66 44 87 54 22 29 17 63
Operating Profit -11 21 22 106 244 86 64 -27 -14 6 -4 31 174
OPM % -10% 26% 26% 76% 74% 56% 59% -45% -34% 21% -17% 64% 73%
Other Income 25 31 64 14 9 25 -560 6 -1,154 14 54 16 12
Interest 6 8 10 8 12 11 11 14 15 5 0 1 1
Depreciation 8 5 12 47 122 55 87 103 39 12 9 8 35
Profit before tax 0 39 63 65 118 44 -594 -138 -1,221 3 40 38 150
Tax % -1,353% 38% 16% 36% 32% 24% 7% 9% -0% -2% 10% 0%
Net Profit 2 24 54 42 80 33 -551 -125 -1,221 3 36 38 149
EPS in Rs 0.31 1.68 4.10 3.19 6.06 2.57 0.00 0.00 0.00 0.27 2.79 2.90
Dividend Payout % 0% 54% 0% 0% 8% 0% -0% -0% -0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:-4.99%
5 Years:-14.82%
3 Years:6.53%
TTM:386.35%
Compounded Profit Growth
10 Years:3.30%
5 Years:9.55%
3 Years:%
TTM:293.66%
Return on Equity
10 Years:1.13%
5 Years:-7.58%
3 Years:4.12%
Last Year:9.46%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
78 131 131 131 131 131 131 131 131 131 131 131 131
Reserves 312 878 930 971 1,044 1,077 526 398 141 165 201 243 392
Borrowings 132 147 130 652 589 591 886 947 0 0 0 0 0
182 150 432 279 346 402 323 176 151 183 184 162 162
Total Liabilities 705 1,306 1,622 2,033 2,109 2,200 1,865 1,652 423 478 515 535 684
9 8 13 10 10 10 9 9 8 8 10 17 343
CWIP 274 402 1,026 65 101 124 339 337 118 130 6 6 2
Investments 69 568 12 3 110 72 28 27 23 67 152 42 171
352 327 572 1,955 1,888 1,994 1,489 1,279 274 273 348 470 169
Total Assets 705 1,306 1,622 2,033 2,109 2,200 1,865 1,652 423 478 515 535 684

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
81 56 265 -187 163 63 75 19 11 91 98 -7
-220 -125 -631 -558 -18 11 -317 -40 2 -1 -32 -60
243 613 -68 540 -77 -86 243 -53 -24 0 0 0
Net Cash Flow 103 544 -435 -204 69 -11 1 -74 -11 90 66 -67

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 2% 6% 6% 5% 7% 3% -1% -8% -5% 1% 4% 10%
Debtor Days 63 61 90 107 52 48 50 39 28 28 69 120
Inventory Turnover 5.24 3.37 1.89 2.56 7.56 3.33 2.52 1.57 1.35 1.25 1.06 1.84