Oil & Natural Gas
Corporation Limited
NSE Symbol ONGC
RESULTS FOR Q2 FY 2012
Q/E SEP,2011
Among the PSU Pack, one of the best
performers has been ONGC. On Q2 ending Sep,2011 also, ONGC has performed very
well.
Net Sales in Q2 FY 12 has gone up to
Rs.22616.32 cr – compared to Rs.16198.96 cr in Q1 FY 12, the preceding Qtr (Up
by 39.62%) – and compared to Rs.18193.59
cr in Q2 FY 11, the corresponding qtr (Up by 24.31%).
Depreciation has come down drastically in Q2 FY 12 to Rs.3278.17
cr – compared to Rs.4122.47 cr in preceding qtr, down by -20.48%; and compared to Rs.4400.07
cr in corresponding qtr, down by -25.5%.
Other Expenditure has increased in Q2 FY 12 to rs.7989.93 cr –
compared to Rs.6543.26 cr in preceding qtr, up by 22.11% - and compared to rs.6658.49
cr in corresponding qtr, up by 20%.
Total Expenditure has gone up
marginally to Rs.11734.90 cr in Q2 FY 12 – compared to Rs.11054.44 in preceding
qtr, up by 6.16% - and compared to Rs.11508.54 cr in corresponding Qtr, up by 1.97%.
Profit from Operations has therefore
gone up very impressively to Rs.11190.46 cr in q2 FY 12 – compared to Rs.5347.48
cr in preceding qtr, up by 109.3% - and compared to Rs. 6921.74 cr in corresponding qtr, up by 61.67%.
Profit before tax has also gone up
well to Rs.12316.90 cr in q2 FY 12 – compared to Rs.6070.44 cr in preceding
Qtr, up by 102.9% - and compared to Rs.7827.01 cr in corresponding Qtr, up by 57.36%.
Tax expense has also therefore gone
up to Rs.3674.67 cr in Q2 FY 12 – compared to Rs.1975.54 cr, up by 86.01% - and
compared to Rs.2438.24 cr in corresponding Qtr, up by 50.71%.
Net Profit has gone up very well to
Rs.8642.23 cr in Q2 FY 12 – compared to Rs.4094.90 cr in preceding qtr, up by 111.1%
; and compared to Rs. 5388.77 Cr in
corresponding qtr, up by 60.37%.
Face Value of Rs.10 of the shares
has been sub divided and split into shares of Rs.5 each effective from last qtr while the
same was Rs.10 in corresponding Qtr.
Paid Up Equity has also gone up to
Rs.4277.76 cr in last Qtr – compared to Rs.2138.89 cr in corresponding Qtr due
to Bonus issue in 1:1 ratio.
Because of these changes. The Basic EPS
on the face value of Rs.5 comes to Rs.10.1 in Q2 FY 12; and Rs.4.79 in
preceding qtr – both on a face value of Rs.5.
The EPS on a FV of Rs.10 in corresponding qtr was Rs.25.19. Thus, the
improvement in Profits and EPS in current quarter in absolute terms is very
impressive.
The Annualised EPS on a FV of Rs.4 in current year is likely
to be around Rs.35, if current trend continues, which seems quite likely.
The Last Market Price was
Rs.256.40. The PE Ratio is around 7.33. ONGC is in a good sector and is
likely to reap good benefits out of every policy framed by the Govt.
SYNAPSIS OF INFO FROM
ANNUAL REPORT FOR FY 2011
According to Platts Top 250 Global
Energy Ranking, ONGC is the no. 1 E&P company in the world.(From Annual
Report).
The strength of ONGC is the
discovery of New fields continuously both in India (By ONGC) and abroad (By
ONGC Videsh Ltd).
However, some of the old fields in
its charge are subject to lower production and need more careful recovery.
14 major
fields, which contribute more than 71% of total production of ONGC, are of 25-50
years of vintage.
In FY 2011, ONGC recorded
highest-ever production (including the production share from its domestic joint
ventures and the production of OVL) of 62.05 million tonne of oil and oil
equivalent gas (MMTOE).
Ultimate reserve accretion of 83.56 MMTOE in
domestic operated fields has been the highest in last two decades. It also made
a significant breakthrough in Shale gas exploration.
The announcements section indicates
consistent discoveries of new fields.
From all the analysis, we can see
that - ONGC is a VERY Good BUY for
Medium / Long term Investors.
ANNOUNCEMENTS BY ONGC
02-12-2011 ONGC Board flagged off Development of B-127 cluster
02-12-2011 ONGC notifies two
impressive discoveries
07-11-2011 (1) ONGC improves Q2 Net
by 60.4% (2) Notifies one more discovery in Oct'11 totaling 9 in the year.
04-11-2011 standalone Results for the quarter ended on 30-SEP-2011 as
follows: Net Sales of Rs. 2261632 lacs for quarter ending on 30-SEP-2011
against Rs. 1819359 lacs for the quarter ending on 30-SEP-2010. Net Profit /
(Loss) of Rs. 864223 lacs for the quarter ending on 30-SEP-2011 against Rs.
538877 lacs for the quarter ending on 30-SEP-2010. -
28-09-2011 ONGC Board decides to issue NOC to Cairn India Ltd for their
proposed Transaction of shares with Vedanta Resources PLc.
16-06-2011 "Announcement of Updated Management Estimates of Oil
and Gas Reserves and the Outcome of an Independent Reserves Audit as of April
1, 2011".
30-05-2011 "ONGC notifies three more discoveries while releasing
an impressive Annual Performance Highlights".
30-05-2011 consolidated Results for the year ended on 31-MAR-2011 as
follows: Net Sales of Rs. 11761059 lacs for year ending on 31-MAR-2011 against
Rs. 10176045 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of
Rs. 2245593 lacs for the year ending on 31-MAR-2011 against Rs. 1940353 lacs
for the year ending on 31-MAR-2010.
30-05-2011 standalone Results for
the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 6584179 lacs for
year ending on 31-MAR-2011 against Rs. 5998761 lacs for the year ending on
31-MAR-2010. Net Profit / (Loss) of Rs. 1892400 lacs for the year ending on
31-MAR-2011 against Rs. 1676755 lacs for the year ending on 31-MAR-2010.
25-05-2011 "Highest ever
Production achieved by OVL during 2010-11 - up 7%".
29-04-2011 "ONGC notifies two
more discoveries; concludes FY-11 with an impressive note of Reserve Accretion
and Production".
RESULTS TABLE
|
ONGC
|
30-Sep-11
|
30-Jun-11
|
%
DIF
|
30-Sep-10
|
% DIF
|
|
Net Sales
|
2261632
|
1619896
|
39.62
|
1819359
|
24.31
|
|
Other Operating Income
|
30904
|
20296
|
52.27
|
23669
|
30.57
|
|
Increase in SIT /WIP
|
-2609
|
-7051
|
-63
|
-488
|
434.63
|
|
Raw Materials
|
16486
|
14879
|
10.8
|
14602
|
12.9
|
|
Traded Goods
|
45
|
64
|
-29.69
|
294
|
-84.69
|
|
Employees Cost
|
32758
|
30979
|
5.74
|
30590
|
7.09
|
|
Depreciation
|
327817
|
412247
|
-20.48
|
440007
|
-25.5
|
|
Other Expenditure
|
798993
|
654326
|
22.11
|
665849
|
20
|
|
Total Expenditure
|
1173490
|
1105444
|
6.16
|
1150854
|
1.97
|
|
Profit from Operation
|
1119046
|
534748
|
109.3
|
692174
|
61.67
|
|
Other Income
|
113297
|
72697
|
55.85
|
90618
|
25.03
|
|
Interest
|
653
|
401
|
62.84
|
91
|
617.58
|
|
Profit before tax
|
1231690
|
607044
|
102.9
|
782701
|
57.36
|
|
Tax expense
|
367467
|
197554
|
86.01
|
243824
|
50.71
|
|
Net Profit
|
864223
|
409490
|
111.1
|
538877
|
60.37
|
|
Face Value (In Rs
|
5
|
5
|
0
|
10
|
-50
|
|
Paid Up Equity
|
427776
|
427776
|
0
|
213889
|
100
|
|
BasicEPS
|
10.1
|
4.79
|
110.9
|
25.19
|
-59.9
|
|
Public holding (%)
|
25.86
|
25.86
|
0
|
25.86
|
0
|
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