Q1 2027 Oil India Ltd Earnings Call Transcript
Key Points
- Record quarterly revenue, EBITDA, PBT, and PAT, with EPS of INR17.65.
- Crude oil production up 11% YoY, with daily output reaching a record 11,017 tonnes on August 3, 2026.
- Strong exploration and development progress, with 17 new wells drilled in Q1 and plans to drill 100 wells in FY27.
- NRL refinery achieved 105% capacity utilization and a gross refinery margin of $35.95 per barrel, up from $5.02 YoY.
- Government support for deepwater exploration, including reimbursement for seismic and drilling costs, to boost offshore activities.
- Natural gas production declined 8% YoY due to lower offtake from downstream customers like BCPL and power plants.
- Gas evacuation constraints persist, with full pipeline connectivity (IGGL, DSL) not expected until FY29.
- NRL's high GRM includes inventory gains and discounts to OMCs, which may not be sustainable.
- Total group debt stands at INR37,233 crores, with NRL's expansion contributing significantly to leverage.
- Pending GST on royalty payment of INR2,500 crores, though provided for, will impact cash flows in Q2.
Ladies and gentlemen, good day and welcome to Oil India Q1 FY27 earnings call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Krishan Mundhra from DAM Capital. Thank you and over to you, sir.
Good afternoon, everyone and a warm welcome to the Q1 FY27 earnings call of Oil India. And to discuss the results, we have the management with us, which is represented by Mr. Abhijit Majumder, who is the Director of Finance; Mr. Saloma Yomdo, Director Exploration and Development; Mr. Trailukya Borgohain, Director Operations; Mr. Bhaskar Jyoti Phukan, MD and NRL; Mr. Ajay Kumar Sahoo, ED Company Secretary; Mr. Raghunath Mishra, ED Business Development; and Mr. Abhijit Das, CGM Finance and Accounts.
Now at this point, I will hand over the floor to the management for their opening remarks, post which we will open the floor for the Q&A. With that, over to you, sir.
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