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    Buy Oil And Natural Gas Corporation, target price Rs 195: ICICI Securities

    Synopsis

    Oil And Natural Gas Corporation Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 177759.35 Crore) operating in Gas & Petroleum sector.

    Oil and Natural Gas CorporationAgencies
    Promoters held 58.89 per cent stake in the company as of 30-Sep-2022, while FIIs owned 9.97 per cent, DIIs 18.52 per cent.
    ICICI Securities has buy call on Oil And Natural Gas Corporation with a target price of Rs 195. The current market price of Oil And Natural Gas Corporation is Rs 142.7.

    Oil And Natural Gas Corporation Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 177759.35 Crore) operating in Gas & Petroleum sector.

    Oil And Natural Gas Corporation Ltd. key Products/Revenue Segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, C2/C3 (Ethane/Propane), Butane, Other Operating Revenue, Aviation Turbine Fuel (ATF), HSD, Superior Kerosene Oil, LSHS, Mineral Turpentine Oil (MTO), Others for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 170984.28 Crore, down -7.15 % from last quarter Total Income of Rs 184148.90 Crore and up 38.51 % from last year same quarter Total Income of Rs 123444.95 Crore. Company reported net profit after tax of Rs 7291.30 Crore in latest quarter.

    Investment Rationale
    The brokerage estimates an EPS CAGR of 19% over FY22-24E, driven by assumptions of US$75/bbl crude realisation, US$7.8/mmbtu gas realisation and a CAGR of 3.9% in overall group production (including OVL). Valuations of just 2.7x FY24E EPS, 2.2x EV/EBITDA and 0.5x P/BV remain attractive. Reiterate BUY.


    Promoter/FII Holdings
    Promoters held 58.89 per cent stake in the company as of 30-Sep-2022, while FIIs owned 9.97 per cent, DIIs 18.52 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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