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Hold OIL India; target of Rs 95: Emkay Global Financial


Emkay Global Financial recommended hold rating on OIL India with a target price of Rs 95 in its research report dated June 29, 2020.

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Emkay Global Financial's report on OIL India

Oil India reported Q4FY20 standalone revenue/EBITDA loss/PAT of Rs25.9bn/11.0bn/9.26bn. EBITDA was impacted by ~Rs15bn of exceptional provision and impairment coupled with Rs3.2bn of forex loss. OIL moved to the new lower tax rate. Crude oil (incl. JV, condensate) production fell 3% yoy (up 1% qoq) at 0.76mmt, while gas fell 8% yoy/qoq to 0 ...


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