Hindustan Oil Exploration Company Ltd

Hind.Oil Explor. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Hindustan Oil Exploration Company Ltd

₹ 237 -2.27%
22 Jul - close price
hoec.com BSE: 500186 NSE: HINDOILEXP
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]

Website BSE NSE
  • Market Cap ₹ 3,129 Cr.
  • Current Price ₹ 237
  • High / Low ₹ 258 / 155
  • Stock P/E 37.2
  • Book Value ₹ 76.6
  • Dividend Yield 0.00 %
  • ROCE 9.24 %
  • ROE 8.65 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 3.09 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 12.3% over last 3 years.
  • Company has high debtors of 159 days.
  • Company's cost of borrowing seems high

* 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.

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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
23 25 31 36 38 62 76 101 142 90 66 95 213
12 11 14 15 15 27 60 72 27 63 22 90 191
Operating Profit 12 14 17 21 23 36 16 29 115 27 44 5 22
OPM % 49% 57% 56% 57% 61% 57% 21% 29% 81% 30% 67% 5% 10%
28 3 6 2 -28 8 6 5 9 10 5 12 7
Interest 1 2 2 2 3 5 10 10 7 8 6 5 4
Depreciation 4 4 4 4 3 4 5 8 10 9 5 7 6
Profit before tax 34 12 17 18 -11 34 7 16 107 21 39 5 19
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
34 12 17 18 -11 34 7 16 107 21 39 5 19
EPS in Rs 2.58 0.89 1.32 1.33 -0.82 2.59 0.50 1.20 8.09 1.61 2.93 0.36 1.44
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
109 60 40 28 25 49 237 180 99 130 381 464
44 87 52 22 21 17 62 58 49 55 186 364
Operating Profit 64 -27 -12 6 4 31 175 122 50 76 195 100
OPM % 59% -45% -29% 22% 15% 64% 74% 68% 50% 58% 51% 22%
-560 6 -1,156 14 46 16 12 48 39 -18 28 33
Interest 11 14 15 5 0 1 2 5 6 8 32 22
Depreciation 87 103 39 12 9 8 35 24 19 15 28 27
Profit before tax -594 -138 -1,221 3 40 38 150 141 65 36 164 84
Tax % -7% -9% 0% -2% 10% 0% 1% 0% 0% 0% 0% 0%
-551 -125 -1,221 3 36 38 149 141 65 36 164 84
EPS in Rs -42.21 -9.56 -93.57 0.27 2.79 2.90 11.42 10.65 4.92 2.71 12.38 6.35
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 23%
5 Years: 14%
3 Years: 67%
TTM: 22%
Compounded Profit Growth
10 Years: 10%
5 Years: -10%
3 Years: 38%
TTM: -48%
Stock Price CAGR
10 Years: 16%
5 Years: 14%
3 Years: 25%
1 Year: 10%
Return on Equity
10 Years: 10%
5 Years: 12%
3 Years: 12%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 131 131 131 131 131 131 131 132 132 132 132 132
Reserves 526 398 141 165 201 243 392 533 598 634 797 881
886 947 0 0 0 0 0 0 150 256 284 74
206 176 151 183 184 161 162 236 155 253 358 421
Total Liabilities 1,748 1,652 423 478 515 534 684 901 1,035 1,275 1,571 1,508
9 9 8 8 10 17 17 17 16 16 16 772
CWIP 339 337 118 130 6 6 2 139 274 511 27 31
Investments 28 27 23 67 152 42 171 151 90 60 174 60
1,372 1,279 274 273 348 469 494 594 655 688 1,354 645
Total Assets 1,748 1,652 423 478 515 534 684 901 1,035 1,275 1,571 1,508

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
75 19 11 91 98 -7 159 196 -65 110 184 -20
-317 -40 2 -1 -32 -60 -149 -186 -165 -262 -60 115
243 -53 -24 0 0 0 0 2 150 105 2 -226
Net Cash Flow 1 -74 -11 90 66 -67 11 12 -80 -47 125 -130

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 50 39 28 28 69 120 60 71 103 38 41 159
Inventory Days 3,808 52
Days Payable 1,115 180
Cash Conversion Cycle 50 39 28 2,720 69 120 60 71 103 38 41 31
Working Capital Days -361 -1,604 649 652 -405 129 66 58 766 308 218 207
ROCE % -1% -8% -5% 1% 4% 8% 32% 18% 5% 8% 17% 9%

Shareholding Pattern

Numbers in percentages

9 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
0.99% 0.96% 0.93% 0.77% 0.78% 0.62% 0.62% 0.74% 0.97% 1.25% 1.31% 1.80%
4.12% 4.08% 3.61% 3.13% 2.87% 2.73% 2.81% 1.45% 4.00% 0.61% 0.66% 0.52%
0.00% 0.00% 0.01% 0.01% 0.02% 0.02% 0.02% 0.02% 0.00% 0.00% 0.00% 0.00%
94.88% 94.96% 95.44% 96.08% 96.33% 96.64% 96.54% 97.77% 95.03% 98.14% 98.01% 97.67%
No. of Shareholders 66,53069,15571,97174,04878,53278,37877,19072,65784,12087,97898,32995,202

* 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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