This Navratna CPSE from the midcap space rallied by 133% in the last 1.5 years!

Oil India Ltd is the second largest national oil and gas company in India and falls under the administrative control of the Ministry of Petroleum and Natural Gas.

Oil India Ltd, a fully integrated exploration and production company in the upstream sector has rallied by 133% on the bourses in the last 1.5 years, during which, the stock price jumped from Rs 95.85 (as of 21st July 2020) to Rs 223.7 (as on 20th Jan 2022).

As the owner and operator of numerous facilities & equipment, the company undertakes seismic and geodetic work, 2D and 3D data acquisition, processing and analysis, drilling, oil & gas field development & production, LPG production and Pipeline transportation, and other ancillary services, making it a fully integrated exploration and production (E&P) company.

The company's stock price witnessed a massive surge of 39.45% between 1 September 2021 to 1 October 2021. It made a 52-week high of Rs 267.70 in October 2021, a few days after the company’s 62nd Annual General Meeting (AGM) took place on 25 September.

On the performance front, in Q2FY22, the company’s topline went up by 61% YoY to Rs 3,678.76 crore. The EBITDA for the quarter jumped up by 51% YoY to Rs 1280.99 crore. Similarly, the bottom line of the company went up by a whopping 111% YoY to Rs 504.46 crore. The average crude oil price realization during the quarter stood at USD 71.35/bbl vis-a-vis USD 42.75/bbl in the corresponding quarter last year, marking an increase of 66.9%.

Speaking about the strategic initiatives, with an intent to diversify into a non-E&P energy value chain, the company ventured into the City Gas Distribution (CGD) projects. It also forayed into the Renewable and Alternate Energy sector, installing and commissioning RE projects in the Wind and Solar domains with a total installed capacity of 188.10 MW. The efforts of this RE venture seem to be paying off as the total revenue generated during the year FY21 from these assets was Rs.123.08 crore.

At 2.42 pm, the share price of Oil India Ltd was trading at Rs 222.60, marginally down by 0.49% from the previous day’s closing price of Rs 223.7 on BSE.