Hindustan Oil Exploration Company Ltd

Hindustan Oil Exploration Company Ltd

₹ 201 -1.06%
24 Apr 11:32 a.m.
About

Hindustan Oil Exploration Company Limited was incorporated in 1983, It is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore. The company is India's first private E&P company and its assets are geographically spread across Tamil Nadu, Maharashtra, Gujarat, Assam and Arunachal Pradesh (both offshore and onshore). [1][2][3]

Key Points

Assets
PY-1: PY-1 field is in the offshore part of the Cauvery Basin. The produced gas is evacuated by a 56 km long 14” subsea pipeline and sold to GAIL.
Dirok: The Dirok JV capitalizes on the well-developed ecosystem around the Oil & Gas industry in the areas near Dirok by adopting a local content policy in its project delivery.
Cambay: There are 3 marginal fields at Cambay namely – Asjol, North Balol and CB-ON-7, which together currently produce around 150 boepd. [1]

  • Market Cap 2,663 Cr.
  • Current Price 201
  • High / Low 258 / 146
  • Stock P/E 15.5
  • Book Value 74.8
  • Dividend Yield 0.00 %
  • ROCE 17.4 %
  • ROE 19.1 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Debtor days have improved from 60.6 to 41.1 days.

Cons

  • Stock is trading at 2.72 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Company has a low return on equity of 11.5% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
24.18 23.36 24.97 31.05 36.24 38.24 62.24 75.84 101.34 141.63 90.14 65.79 95.06
12.55 11.85 10.62 13.81 15.46 14.92 26.63 60.10 72.30 26.75 62.66 21.79 89.94
Operating Profit 11.63 11.51 14.35 17.24 20.78 23.32 35.61 15.74 29.04 114.88 27.48 44.00 5.12
OPM % 48.10% 49.27% 57.47% 55.52% 57.34% 60.98% 57.21% 20.75% 28.66% 81.11% 30.49% 66.88% 5.39%
2.53 28.41 2.59 6.18 1.95 -28.29 7.95 5.85 5.03 9.07 10.33 5.05 11.60
Interest 1.40 1.40 1.51 1.51 1.51 2.92 5.15 9.98 10.18 6.54 7.62 5.53 4.95
Depreciation 4.97 4.34 3.72 4.50 3.62 3.00 4.19 5.04 7.97 10.44 8.85 4.77 6.95
Profit before tax 7.79 34.18 11.71 17.41 17.60 -10.89 34.22 6.57 15.92 106.97 21.34 38.75 4.82
Tax % -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00%
7.79 34.17 11.71 17.41 17.60 -10.89 34.21 6.56 15.92 106.97 21.34 38.75 4.82
EPS in Rs 0.59 2.58 0.89 1.32 1.33 -0.82 2.59 0.50 1.20 8.09 1.61 2.93 0.36
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
151 109 60 40 28 25 49 237 180 99 130 381 393
66 44 87 52 22 21 17 62 58 49 55 186 201
Operating Profit 86 64 -27 -12 6 4 31 175 122 50 76 195 191
OPM % 56% 59% -45% -29% 22% 15% 64% 74% 68% 50% 58% 51% 49%
25 -560 6 -1,156 14 46 16 12 48 39 -18 28 36
Interest 11 11 14 15 5 -0 1 2 5 6 8 32 25
Depreciation 55 87 103 39 12 9 8 35 24 19 15 28 31
Profit before tax 44 -594 -138 -1,221 3 40 38 150 141 65 36 164 172
Tax % 24% 7% 9% -0% -2% 10% -0% 1% -0% -0% -0% -0%
33 -551 -125 -1,221 3 36 38 149 141 65 36 164 172
EPS in Rs 2.57 -42.21 -9.56 -93.57 0.27 2.79 2.90 11.42 10.65 4.92 2.71 12.38 12.99
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: 13%
5 Years: 51%
3 Years: 28%
TTM: 41%
Compounded Profit Growth
10 Years: 23%
5 Years: 43%
3 Years: 16%
TTM: 114%
Stock Price CAGR
10 Years: 15%
5 Years: 10%
3 Years: 27%
1 Year: 38%
Return on Equity
10 Years: 7%
5 Years: 15%
3 Years: 12%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 131 131 131 131 131 131 131 131 132 132 132 132 132
Reserves 1,077 526 398 141 165 201 243 392 533 598 634 797 857
591 886 947 -0 -0 -0 -0 -0 -0 150 256 284 117
194 206 176 151 183 184 161 162 236 155 253 358 313
Total Liabilities 1,992 1,748 1,652 423 478 515 534 684 901 1,035 1,275 1,571 1,419
10 9 9 8 8 10 17 17 17 16 16 16 784
CWIP 124 339 337 118 130 6 6 2 139 274 511 27 28
Investments 72 28 27 23 67 152 42 171 151 90 60 174 62
1,787 1,372 1,279 274 273 348 469 494 594 655 688 1,354 545
Total Assets 1,992 1,748 1,652 423 478 515 534 684 901 1,035 1,275 1,571 1,419

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
63 75 19 11 91 98 -7 159 196 -65 110 184
11 -317 -40 2 -1 -32 -60 -149 -186 -165 -262 -60
-86 243 -53 -24 -0 -0 -0 -0 2 150 105 2
Net Cash Flow -11 1 -74 -11 90 66 -67 11 12 -80 -47 125

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 48 50 39 28 28 69 120 60 71 103 38 41
Inventory Days 3,808
Days Payable 1,115
Cash Conversion Cycle 48 50 39 28 2,720 69 120 60 71 103 38 41
Working Capital Days -118 -361 -1,604 649 652 -405 129 66 58 766 308 218
ROCE % 3% -1% -8% -5% 1% 4% 8% 32% 18% 5% 8% 17%

Shareholding Pattern

Numbers in percentages

8 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
0.43% 0.99% 0.96% 0.93% 0.77% 0.78% 0.62% 0.62% 0.74% 0.97% 1.25% 1.31%
4.23% 4.12% 4.08% 3.61% 3.13% 2.87% 2.73% 2.81% 1.45% 4.00% 0.61% 0.66%
0.00% 0.00% 0.00% 0.01% 0.01% 0.02% 0.02% 0.02% 0.02% 0.00% 0.00% 0.00%
95.34% 94.88% 94.96% 95.44% 96.08% 96.33% 96.64% 96.54% 97.77% 95.03% 98.14% 98.02%
No. of Shareholders 69,76866,53069,15571,97174,04878,53278,37877,19072,65784,12087,97898,329

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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