Essar Oil Limited
NSE Symbol ESSAROIL
ESSAR OIL has declared its stand alone results for the 4th quarter of FY 11.
Net Sales : is Rs.13315 Cr - up by 8.84% from the previous Qtr of Q3 FY 11; up by 22.06% from Q2 FY 11; Up by 26.44% from Q1 FY 11; and up by 27.37% from the corresponding qtr of Q4 FY 10. This increase in Net Sales reflects consistent progress in each quarter.
Total Expenditure : is Rs.12652 cr – up by 8.22% from Q3 FY 11; 20.33% from Q2 FY 11; up by 22.31% from Q1 FY 11; and up by 25.95% from Q4 FY 10. The increase in expenditure is less than proportionate to the Net Sales and therefore contributing more to profits. Other Expenditure is very high in Q1 FY 11, and Other Income, on the other hand, is very low in Q1 FY 11 – both of which had depressed profits in Q1 FY 11 compared to all other quarters.
Profit from Operations : is Rs.704 cr – up by 21.38% from Q3 FY 11; up by 64.49% from Q2 FY 11; up by a huge 222.94% from Q1 FY 11; and up by 61.1% from Q4 FY 10.
Profit before tax : is Rs.422 cr – up by 23.75% from Q3 FY 11; up by 193.06% from Q2 FY 11; up by 678.08% from Q1 FY 11; and up by 134.44% from Q4 FY 10.
Net Profit is Rs.321 cr – up by 17.58% from Q3 FY 11; up by 146.92% from Q2 FY 11; up by 558.57% from Q1 FY 11; and up by 78.33% from Q4 FY 10.
Basic EPS has registered consistent increase every quarter to Rs.2.35 in Q4 FY 11; Rs.2 in Q3 FY 11; Rs.0.95 in Q2 FY 11; Rs.0.54 in Q1 FY 11; and Rs.1.5 in Q4 FY 10 – against a Face Value per share of Rs.10.
The Public Share holding in this company is low at around 10.04%
The Rs.10 shares are currently trading at Rs.135.
RESULTS TABLE :
| ESSAR OIL-SA | 31-Mar-11 | 31-Dec-10 | 30-Sep-10 | 30-Jun-10 | 31-Mar-10 |
| Net Sales | 1331500 | 1223300 | 1090900 | 1053100 | 1045400 |
| Net Sales | 1331500 | 8.84 | 22.06 | 26.44 | 27.37 |
| Other Oprtg Income | 4100 | 3800 | 3300 | 3100 | 2800 |
| Incr/decr in SIT /WIP | -48400 | 32000 | -34600 | -64000 | 19500 |
| Raw Materials | 1240400 | 1038700 | 962100 | 999900 | 925800 |
| traded Goods | 19600 | 44900 | 86500 | 43400 | 37800 |
| Employees Cost | 3100 | 2900 | 3300 | 2700 | 2900 |
| Depreciation | 18100 | 18500 | 18400 | 18100 | 18100 |
| Other Expenditure | 32400 | 32100 | 15700 | 34300 | 400 |
| Total Expenditure | 1265200 | 1169100 | 1051400 | 1034400 | 1004500 |
| Total Expenditure | 1265200 | 8.22 | 20.33 | 22.31 | 25.95 |
| Profit from Operations | 70400 | 58000 | 42800 | 21800 | 43700 |
| Profit from Operations | 70400 | 21.38 | 64.49 | 222.94 | 61.1 |
| Other Income | 2700 | 6200 | 2200 | 800 | 6300 |
| Interest | 30900 | 30100 | 30600 | 29900 | 32000 |
| Profit before tax | 42200 | 34100 | 14400 | -7300 | 18000 |
| Profit before tax | 42200 | 23.75 | 193.06 | 678.08 | 134.44 |
| Tax expense | 10100 | 6800 | 1400 | -300 | - |
| Net Profit | 32100 | 27300 | 13000 | -7000 | 18000 |
| Net Profit | 32100 | 17.58 | 146.92 | -558.57 | 78.33 |
| Face Value (In Rs | 10 | 10 | 10 | 10 | 10 |
| Paid Up Equity | 136600 | 136600 | 136600 | 136600 | 120200 |
| Basic EPS | 2.35 | 2 | 0.95 | -0.54 | 1.5 |
| Diluted EPS | 2.21 | 1.89 | 0.9 | -0.54 | 1.48 |
| Public Holding (%) | 10.04 | 10.04 | 10.04 | 10.04 | 11.42 |
ANNOUNCEMENTS
TO NSE
11-04-2011 standalone Results for the quarter ended on 31-MAR-2011 as follows: Net Sales of Rs. 1331500 lacs for quarter ending on 31-MAR-2011 against Rs. 1045400 lacs for the quarter ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 32100 lacs for the quarter ending on 31-MAR-2011 against Rs. 18000 lacs for the quarter ending on 31-MAR-2010.
28-03-2011 "planned shutdown of Refinery at Jamnagar."
17-01-2011 The Company has planned a 35-day shutdown during May-June 2011 to complete the revamp of its Crude Distillation Unit to 18 MMTPA and FCCU (Fluidized Catalytic Cracking Unit) to 3.9 MMTPA, and carry out the tie-in jobs for the expansion units. The Company will also take advantage of the period of shutdown to carry out routine maintenance work at the Refinery.
17-01-2011 standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 1249500 lacs for quarter ending on 31-DEC-2010 against Rs. 992700 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 27300 lacs for the quarter ending on 31-DEC-2010 against Rs. (22600) lacs for the quarter ending on 31-DEC-2009.
10-11-2010 "Essar Oil to further increase Vadinar refinery capacity to 20 million tonnes per annum".
18-10-2010 standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 1111900 lacs for quarter ending on 30-SEP-2010 against Rs. 956300 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 13000 lacs for the quarter ending on 30-SEP-2010 against Rs. (9400) lacs for the quarter ending on 30-SEP-2009.
18-10-2010 "Essar Oil Limited (EOL) reports revenues of Rs.12,415 crore in Q2 FY 10-11, up over 11 percent from the corresponding quarter in last year".
27-07-2010 "Essar Oil Limited (EOL) reports revenues of over Rs.12,000 crore up 52 percent from the corresponding quarter in FY2010?.
27-07-2010 standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 1072700 lacs for quarter ending on 30-JUN-2010 against Rs. 677400 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. (7000) lacs for the quarter ending on 30-JUN-2010 against Rs. 16900 lacs for the quarter ending on 30-JUN-2009.
27-07-2010 consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 3731900 lacs for year ending on 31-MAR-2010 against Rs. 3755600 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 3200 lacs for the year ending on 31-MAR-2010 against Rs. (48300) lacs for the year ending on 31-MAR-2009.
27-07-2010 standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 3731900 lacs for year ending on 31-MAR-2010 against Rs. 3755600 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 2900 lacs for the year ending on 31-MAR-2010 against Rs. (51400) lacs for the year ending on 31-MAR-2009.
09-07-2010 "The Company has today, 9th July, 2010 issued second tranche of Foreign Currency Convertible Bonds due September, 2028 (FCCBs) aggregating to US$147 million to Promoter Company, Essar Energy Holdings Limited for part financing expansion programmes of the Company. The FCCBs are convertible into Global Depository Shares (GDSs) or equity shares of the Company, at the option of the Bondholders, at a conversion price of Rs.153 per share".
25-06-2010 "Essar Oil declared winner of four Coal Bed Methane blocks".
16-06-2010 "The Company has today, 15th June, 2010 issued US$ 115 million Foreign Currency Convertible Bonds due June 2028 (FCCBs) to Promoter Company, Essar Energy Holdings Limited for part financing expansion programmes of the Company. The FCCBs are convertible into Global Depository Shares (GDSs)or equity shares of the Company, at the option of the Bondholders, at a conversion price of Rs.138/- per share".
04-06-2010 "At the Extra Ordinary General Meeting held on April 22, 2010 for raising of funds by issue of ADRs/ GDRs/ FCCBs aggregating to an amount not exceeding US$ 1700 million to Promoters / Promoter Group, the Company has decided today to raise upto US$ 300 million by issue of Foreign Currency Convertible Bonds (FCCBs) in one or more tranches, on Preferential basis to Promoter Company, Essar Energy Holdings Ltd."
28-05-2010 the company has on May 28, 2010, issued and allotted 71,292,951 equity shares of Rs.10/- each (face value) fully paid up at a price of Rs.144/- per share in favour of Overseas Depository, The Bank of New York Mellon, being the underlying shares for the issue of 465,967 GDSs aggregating to US $ 225 million. Further, the GDSs have been subscribed by Promoter Company, Essar Energy Holdings Limited.
14-05-2010 the Hon'ble High Court of Gujarat at Ahmedabad has sanctioned a Scheme of Amalgamation of the 100% subsidiary, Essar Oil Vadinar Ltd. with the Company. Certified true copies of the orders sanctioning the scheme have been issued by the Hon'ble Court on May 13, 2010.
07-05-2010 "We have been updated by our promoters that their holding company, Essar Energy plc has raised approximately a sum of US $ 1.95 billion through offer of its shares which have today been admitted to the official list of the UK Listing Authority and to trading on the London Stock Exchange main market for for listed securities ".
27-04-2010 the Company has on April 27, 2010, issued and allotted 92,844,531 equity shares of Rs.10/- each (face value) fully paid up at a price of Rs. 144 per share in favour of the overseas Depository, The Bank of New York Mellon, being the underlying shares for the issue of 606,827 GDSs aggregating to US $293.30 million. The GDSs have been subscribed by Promoter Company, Essar Energy Holdings Limited.
22-04-2010 passed an enabling resolution for raising of funds by issue of ADRs/GDRs/FCCBs aggregating to an amount not exceeding US$ 1,700,000,000 (United States Dollar One Thousand seven hundred million only) to the Promoters/Promoter Group on preferential offer basis.
13-04-2010 standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 1045400 lacs for quarter ending on 31-MAR-2010 against Rs. 679300 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 18000 lacs for the quarter ending on 31-MAR-2010 against Rs. 66000 lacs for the quarter ending on 31-MAR-2009. -
05-04-2010 "The Company has received a letter dated March 30, 2010 from Shri Ravi Ruia tendering his resignation from the Board of Directors of the Company with immediate effect due to other commitments. The same will be placed before the Board at its next meeting".
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