Investor Presentation

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the Investor Presentation for the quarter ended June 30, 2022. We request you to kindly take the same on records and disseminate to public.

about 1 month ago

INVESTOR PRESENTATION

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Sentiments detected

Positive 11
  • Right Environment - Established player with - Short cycle projects with - Next level of revenue and proven track record immediate production uptick cashflow generation from B-80 project delivery - Experienced and focused - Cost effective projects and management operations delivery - Crude oil and Natural gas prices at premium levels - Deep technical knowledge - Disciplined capital allocation and experience in Indian preserving financial flexibility - Reforms in sector leading to Basins multiple opportunities for growth - Asset Portfolio tailored to strategy Superior and Sustainable Value Creation over the long term 2

  • Strong offshore presence with anchor assets on both east and west coast - Established industry leading footprint in most prospective areas – INDIA North-east and Cambay 10 Out of 11 blocks with discovered / producing resources

  • Uniquely placed with right organization and right asset portfolio to deliver superior value

  • - Drilling of 3 development wells to increase production from 35 mmscfd to JV Partners 55 mmscfd.

  • Assam • Received working permission for laying of 18” line in the Forest segment.

  • Tamil Nadu • EIA study completed for obtainingEnvironmentalClearance for drilling additional wells.

  • - PY-1 Adhoc extension granted. • Settlement Agreement being finalized and being executed for grant of 10-year extension.

  • Post drillingof 18 wells, production expected to increase to 1800 boepd.

  • - Small volume of Associated Natural Gas (ANG) sale commenced to achieve zero flaring.

  • HOEC PI JV Partners - Tested - Oil 402 bopd Kherem • Field Plan- 2 wells to be completed in 3 years from date of receiving PML 40% - Forest Clearance (FC) in final stages.

  • Lower Revenue Point (LRP) and Higher Revenue Point (HRP).

Negative 5
  • Average daily gas sales in June’22 ≈ 7.1 mmscfd - D1 oil well was shut-in pending rectification of actuator line issue.

  • - D1 oil well shut-in requiring rectification of actuator line issues.

  • Field remains shut-in from 14 July 2022 due to issues in FSO and the loading hose.

  • - Intensification of monsoon is leading to challenging marine system performance, disrupting production operations.

  • Low offtake due to BCPL plant shutdown in April and May 2022.

Mentioned Phrases & Organizations

Important keywords detected (20+)

oil (36)
gas (36)
financial (21)
revenue (15)
production (14)
share (14)
presentation (13)
non (13)
current (13)
offshore (12)
hoec (11)
oil gas (10)
development (9)
wells (9)
business (8)
well (8)
assets (8)
india (7)
crude (7)
sales (7)

Organizations identified (10+)

ONGC (5)
Valorem Advisors (4)
GAIL (3)
PSC (3)
PML (2)
NCCD (2)
‘Lakshmi Chambers’ (1)
Government of India (1)
Central Pay (1)
Elango (1)

Tables extracted (9)

PARTICULARS (INR Cr)Q1-FY23Q4-FY22FY22FY21
INCOME
Revenue from operations62.2438.24130.5199.44
Other income7.956.0816.8011.82
Total revenue70.1944.32147.31111.26
EXPENSES
Expenses from producing oil and gas blocks22.095.4622.2522.96
Royalty, Cess and NCCD9.746.5922.9519.69
Decrease / (Increase) in stock of crude oil and condensate(6.94)1.822.30(1.97)
Employee benefits expense0.180.040.630.61
Finance costs – unwinding of discount on decommissioning liability1.631.516.055.60
Finance costs - others3.521.411.41-
Depreciation, depletion and amortization4.193.0014.8518.58
Other expenses1.571.016.688.32
Total expenses35.9820.8577.1273.79
Profit before tax and exceptional items34.2123.4770.1937.47
Exceptional items - expenses-(34.37)(34.36)27.59
Profit before tax34.21(10.89)35.8365.06
Net tax expenses----
Net profit for the period34.21(10.89)35.8365.06
Other comprehensive income(0.01)(0.07)(0.04)0.04
Total comprehensive income34.20(10.97)35.7965.10
Earnings per equity share of Rs 10 each - Basic2.59(0.82)2.714.92
- Diluted2.59(0.82)2.714.92
PARTICULARS (INR Cr)FY22FY21FY20
EQUITY AND LIABILITIES
Equity765.97730.18665.08
(a) Equity share capital132.26132.26132.26
(b) Other equity633.71597.92532.82
Non-Current Liabilities284.38197.49103.73
(a) Financial liabilities
(i) Long-term borrowings160.6188.28-
(ii) Other financial liabilities8.660.130.31
(b) Provisions115.10109.08103.42
(c)Other non-current liabilities---
Current Liabilities225.00107.60132.48
(a) Financial liabilities
(i) Borrowings95.4861.72-
(ii) Trade payables17.2312.1312.69
(iii) Other financial liabilities101.4628.18117.39
(b) Provisions0.200.180.14
(c) Other current liabilities10.635.392.26
GRAND TOTAL - EQUITIES & LIABILITIES1,275.341,035.27901.29
PARTICULARS (INR Cr)Q1-FY23Q4-FY22FY22FY21
INCOME
Revenue from operations89.4242.21155.73113.86
Other income1.621.4211.4611.32
Total revenue91.0443.63167.19125.18
EXPENSES
Expenses from producing oil and gas blocks23.717.1728.2329.54
Royalty, Cess and NCCD12.928.9632.3524.45
Vessel Operating Expenses2.602.672.67-
Decrease / (Increase) in stock of crude oil and condensate(7.44)1.793.79(3.30)
Employee benefits expense0.200.090.930.69
Finance costs - unwinding of discount on decommissioning liability1.671.556.215.78
- Others5.042.753.010.01
Depreciation, depletion and amortization13.5610.7326.2123.37
Other expenses6.810.648.858.34
Total expenses59.0836.34112.2488.88
Profit before tax and exceptional items31.967.2954.9536.30
Share of profit from associate0.740.36(0.90)1.54
Exceptional items - expenses-(34.37)(34.37)13.98
Profit before tax32.70(26.72)19.6851.82
Net tax expenses0.350.49(0.31)(1.59)
Net profit for the period32.35(27.21)19.9953.42
Other comprehensive income(0.01)(0.07)(0.04)0.04
Total comprehensive income32.34(27.28)19.9553.46
Earnings per equity share of Rs 10 each - Basic2.45(2.06)1.514.04
- Diluted2.45(2.06)1.514.04
PARTICULARS (INR Cr)FY22FY21FY20
EQUITY AND LIABILITIES
Equity753.12733.17679.71
(a) Equity share capital132.26132.26132.26
(b) Other equity620.86600.91547.45
Non-Current Liabilities425.23273.23142.07
(a) Financial liabilities
(i) Long term borrowings204.61159.1731.97
(b) Trade payables---
(c) Other financial liabilities100.860.140.31
Provisions118.78112.59106.77
Other non-current Liabilities---
Deferred tax liability0.981.333.02
Current Liabilities348.89178.75214.06
(a) Financial liabilities
(i) Short term borrowings152.7394.52-
(ii) Trade payables37.9231.9465.89
(ii) Other financial liabilities133.2733.48131.21
(b) Provisions14.0513.1913.47
(c) Other Current liabilities10.935.623.49
GRAND TOTAL - EQUITIES & LIABILITIES1,527.241,185.151,035.84
PARTICULARS (INR Cr)FY22FY21FY20
ASSETS
Non-Current Asset1360.34958.41769.13
(a) Property, Plant and Equipment
(i) Oil & gas assets296.55312.14331.78
(ii) Others201.139.9411.57
(b) Capital work in progress758.68534.59327.37
(c) Investment property3.073.954.15
(d) Intangible assets9.719.379.82
(e) Financial assets
(i) Investments in associate18.3819.2817.73
(ii) Deposits under site restoration fund72.5668.5365.18
(iii) Other financial assets0.060.060.07
(f) Other non-current assets0.210.551.46
Current Assets166.90226.74266.71
(a) Inventories30.9836.1026.59
(b) Financial assets
(i) Investments0.3445.38100.48
(ii) Trade receivables16.2031.0736.36
(iii) Cash & Cash Equivalents29.1246.8970.60
(iv) Other bank balances36.2524.6315.24
(v) Other financial assets39.5628.543.47
Income tax assets (net)3.767.369.88
Other Current Assets10.686.774.09
GRAND TOTAL - ASSETS1,527.241,185.151,035.84
Price Data (As on 30 th June 2022)
CMP (INR)186.9
52 Week H/L (INR)245.2/113.6
Avg. Net Turnover (INR Mn)245.2
Market Cap (INR Mn)24,708.2
Equity Shares Outstanding (Mn)132.2
Marquee Investors% Holding
Housing Development Finance Corporation Ltd (HDFC)6.40%
Kotak Small Cap Fund1.95%
Si Investments And Broking Private Limited1.31%
BlockAAP-ON-94/1PY-1*PY-3*North BalolKharsang*CB-ON-7Asjol*
RoyaltyGas10%10%10%10%---
Oil/Cond20%-10%-20%20%20%
CessOil/Cond20%20%20%0%20%20%20%
Cost Recovery Limit80%100%100%80%100%60%100%
Investment Multiple (Govt. Share Percentages)
<10%10%20%20%15%0%10%
1<1.510%15%20%20%15%25%20%
1.5<225%15%35%30%20%30%30%
2<2.535%60%50%50%25%35%40%
2.5<345%60%60%50%30%40%50%
3<3.550%60%70%50%35%45%60%
>3.550%60%80%50%40%50%60%

Features are experimental.