Selan Explorations Technology Ltd

₹ 847 0.94%

22 Nov 9:32 a.m.

About

Incorporated in 1985, Selan Exploration Technology Ltd is in the business of oil & gas exploration and production^[1]

Key Points

Busienss Overview:^[1]^[2]
SETL is in the business of exploration & production of Oil and Gas in India. It was amongst the first companies to secure development rights for three dicovered oilfields in Gujarat: Bakrol, Lohar, and Karjisan, all with proven oil and gas reserves. SETL operates in the segment of Crude Oil and Natural Gas. Its crude oil is sold to refineries and its natural gas is consumed by local industry located around the vicinity of its fields. The crude oil prices are benchmarked to global markets and the gas prices are benchmarked to the Government of India notified domestic gas price

Website BSE NSE

Market Cap ₹ 1,288 Cr.
Current Price ₹ 847
High / Low ₹ 1,100 / 404
Stock P/E 22.3
Book Value ₹ 286
Dividend Yield 0.00 %
ROCE 12.3 %
ROE 8.70 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company is expected to give good quarter
Company's working capital requirements have reduced from 85.9 days to 64.7 days

Cons

Stock is trading at 2.94 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 30.5%
Company has a low return on equity of 7.01% 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.

Peer comparison

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

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	18	19	23	30	33	29	27	28	39	44	55	63	69
	16	17	22	19	22	22	23	23	29	36	39	40	42
Operating Profit	2	3	1	11	10	7	4	5	11	7	16	23	27
OPM %	11%	14%	5%	35%	32%	23%	15%	18%	27%	17%	29%	37%	39%
	2	2	2	2	2	3	4	3	3	2	2	2	2
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	3	4	3	12	12	9	7	8	13	9	17	24	28
Tax %	32%	22%	-19%	26%	24%	18%	25%	34%	26%	32%	29%	26%	25%
	2	3	3	9	9	8	5	5	9	6	12	18	21
EPS in Rs	1.41	2.04	1.99	5.97	5.80	5.01	3.52	3.32	6.20	3.97	8.06	11.97	14.05
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Profit & Loss

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	97	101	79	62	56	77	93	90	49	77	118	166	231
	37	20	22	24	21	30	29	34	37	50	67	93	157
Operating Profit	60	82	57	38	35	47	64	55	12	27	51	72	73
OPM %	61%	81%	72%	61%	63%	61%	69%	62%	24%	35%	43%	44%	32%
	12	13	12	10	8	8	11	-1	10	8	12	11	10
Interest	1	0	0	2	0	0	0	0	0	0	0	0	0
Depreciation	1	26	24	26	28	21	21	22	22	22	22	37	4
Profit before tax	70	68	44	20	15	34	54	32	-1	13	40	46	79
Tax %	35%	35%	36%	35%	40%	34%	4%	30%	-611%	21%	23%	29%
	45	45	28	13	9	22	52	22	6	10	31	33	58
EPS in Rs	26.85	27.16	17.26	7.87	5.38	13.45	31.41	14.76	4.11	6.53	20.30	21.54	38.05
Dividend Payout %	19%	18%	29%	64%	93%	37%	15%	34%	122%	77%	0%	0%

Compounded Sales Growth
10 Years:	5%
5 Years:	12%
3 Years:	50%
TTM:	88%

Compounded Profit Growth
10 Years:	-3%
5 Years:	-6%
3 Years:	114%
TTM:	111%

Stock Price CAGR
10 Years:	8%
5 Years:	43%
3 Years:	86%
1 Year:	64%

Return on Equity
10 Years:	7%
5 Years:	6%
3 Years:	7%
Last Year:	9%

Balance Sheet

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	17	16	16	16	16	16	16	15	15	15	15	15	15
Reserves	221	245	264	267	266	278	310	313	311	314	345	379	419
	0	0	0	0	0	0	1	1	1	0	4	4	3
	49	77	102	85	67	73	62	64	49	47	63	87	92
Total Liabilities	287	339	382	368	349	368	388	393	376	376	427	485	530
	6	8	11	10	9	12	11	9	8	7	13	21	333
CWIP	113	159	207	208	199	203	197	180	164	149	166	279	0
Investments	0	0	0	0	0	35	133	127	129	135	176	64	92
	167	172	164	150	140	119	48	76	74	85	73	120	106
Total Assets	287	339	382	368	349	368	388	393	376	376	427	485	530

Cash Flows

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	48	75	62	17	37	67	100	41	36	-18	43	72
	-1	-58	-63	-16	-11	-54	-100	-12	-2	-6	-46	-69
	-28	-21	-10	-12	-10	-9	-20	-21	-8	-8	-0	-1
Net Cash Flow	19	-4	-12	-11	17	3	-20	8	26	-32	-3	2

Ratios

Figures in Rs. Crores

	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	58	87	69	65	87	89	72	71	94	89	58	76
Inventory Days
Days Payable
Cash Conversion Cycle	58	87	69	65	87	89	72	71	94	89	58	76
Working Capital Days	63	55	-29	68	128	106	95	77	144	108	85	65
ROCE %	31%	27%	16%	8%	5%	11%	15%	10%	-2%	4%	12%	12%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	30.09%	30.09%	39.56%	39.54%	30.46%	30.46%	30.46%	30.46%	30.46%	30.46%	30.46%	30.46%
	3.53%	4.21%	3.78%	3.78%	3.78%	3.78%	3.78%	3.78%	3.71%	3.83%	5.02%	4.62%
	1.91%	1.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%	0.12%
	64.47%	64.45%	56.66%	56.66%	65.74%	65.75%	65.75%	65.76%	65.83%	65.71%	64.41%	64.80%
No. of Shareholders	22,839	21,687	20,198	21,212	20,075	19,321	18,910	19,329	18,703	17,570	19,970	24,105

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	28.35%	27.89%	28.77%	30.09%	30.09%	30.09%	30.46%	30.46%	30.46%
	1.50%	2.15%	2.30%	2.41%	2.53%	4.21%	3.78%	3.83%	4.62%
	0.31%	2.92%	2.17%	2.15%	1.91%	1.25%	0.00%	0.00%	0.12%
	69.84%	67.04%	66.76%	65.35%	65.47%	64.45%	65.75%	65.71%	64.80%
No. of Shareholders	24,234	21,576	24,184	22,059	22,658	21,687	19,321	17,570	24,105

* 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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