AgenciesPrabhudas Lilladher has buy call on with a target price of Rs 130. The current market price of Indian Oil Corporation Ltd. is Rs 78.05.
Indian Oil Corporation, incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 110145.66 Crore) operating in Gas & Petroleum sector.
Indian Oil Corporation key Products/Revenue Segments include Petroleum Refinery Products, Other Operating Revenue, Scrap, Sale of services, Other Services and Subsidy for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 233800.98 Crore, down -8.67 % from last quarter Total Income of Rs 256004.60 Crore and up 35.42 % from last year same quarter Total Income of Rs 172646.31 Crore. Company has reported net profit after tax of Rs -1156.88 Crore in latest quarter.
The company’s top management includes Mr.Shrikant Madhav Vaidya, Mr.Krishnan Sadagopan, Mr.Sudipta Kumar Ray, Mr.Prasenjit Biswas, Dr.Dattatreya Rao Sirpurker, Dr.Ashutosh Pant, Mr.Dilip Gogoi Lalung, Mr.Sujoy Choudhury, Ms.Sukla Mistry, Mr.D S Nanaware, Mr.V Satish Kum, Ms.Indrani Kaushal, Mr.Navneet Mohan Kothari, Ms.Lata Usendi, Mr.Sandeep Kumar Gupta, Mr.Ranjan Kumar Mohapatra, Dr.S S V Ramakumar, Mr.G K Satish, Prof. (Dr)Ram Naresh Singh. Company has K C Mehta & Co as its auditors. As on 30-09-2022, the company has a total of 1,412 Crore shares outstanding.
Investment Rationale
The brokerage upgrades to buy from reduce earlier as it increases its earnings to factor in higher marketing margins and lower operating expense. Prabhudas values at 7x EV/E FY24E and arrives at a price target of Rs 130(Rs50 earlier). At the suggested PT, the stock will trade at 1.2x P/BV FY24E.
Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.59 per cent, DIIs 11.23 per cent.
Indian Oil Corporation, incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 110145.66 Crore) operating in Gas & Petroleum sector.
Indian Oil Corporation key Products/Revenue Segments include Petroleum Refinery Products, Other Operating Revenue, Scrap, Sale of services, Other Services and Subsidy for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 233800.98 Crore, down -8.67 % from last quarter Total Income of Rs 256004.60 Crore and up 35.42 % from last year same quarter Total Income of Rs 172646.31 Crore. Company has reported net profit after tax of Rs -1156.88 Crore in latest quarter.
The company’s top management includes Mr.Shrikant Madhav Vaidya, Mr.Krishnan Sadagopan, Mr.Sudipta Kumar Ray, Mr.Prasenjit Biswas, Dr.Dattatreya Rao Sirpurker, Dr.Ashutosh Pant, Mr.Dilip Gogoi Lalung, Mr.Sujoy Choudhury, Ms.Sukla Mistry, Mr.D S Nanaware, Mr.V Satish Kum, Ms.Indrani Kaushal, Mr.Navneet Mohan Kothari, Ms.Lata Usendi, Mr.Sandeep Kumar Gupta, Mr.Ranjan Kumar Mohapatra, Dr.S S V Ramakumar, Mr.G K Satish, Prof. (Dr)Ram Naresh Singh. Company has K C Mehta & Co as its auditors. As on 30-09-2022, the company has a total of 1,412 Crore shares outstanding.
Investment Rationale
The brokerage upgrades to buy from reduce earlier as it increases its earnings to factor in higher marketing margins and lower operating expense. Prabhudas values at 7x EV/E FY24E and arrives at a price target of Rs 130(Rs50 earlier). At the suggested PT, the stock will trade at 1.2x P/BV FY24E.
Promoter/FII Holdings
Promoters held 51.5 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.59 per cent, DIIs 11.23 per cent.
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