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Yes Securities Report
Oil India Ltd.'s earnings saw lower-than-estimated Ebitda and profit after tax due to higher other expenses and a reduced crude realisation. Crude and natural gas production and realisation experienced YoY increase.
Depreciation, finding cost, and statutory levies showed marginal increase. Other expenses rose significantly, while other income surged by 397% YoY, resulting from interest/dividend income from investments.
We upward revise our volume estimates for FY25 and FY26 and maintain an 'Add' rating on Oil India, revising our target price to Rs 563/share, and find decent upside on current market price.
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