Indian Oil Q4 Review - Strong Refining Margin To Partially Offset Marketing Losses: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Indian Oil Corporation Ltd.'s reported Q4 FY22 numbers were below our estimates, with gross refining margin at $18.5/barrel of oil and marketing margin at Rs 2.3/liter. Refinery throughput was in line, while marketing sales volumes were above our estimate.Singapore GRM has been at a record high of $22.6/bbl in May 2022 from a loss of $1.5/bbl in May 2020 (during the Covid-19 pandemic). It stood at $2.1/$18.6 per bbl in May-21/April-22. However, oil marketing companies are estimated to be generating losses of Rs 8.8/Rs 12.9 per liter on petrol/diesel at prevailing benchmark prices.Petchem margin rose 14%/10%/5% QoQ in Q1 FY23 till date for polyethylene/ polypropylene/polyvinyl chloride, backed by a spike in product prices. This will help IOCL clock an improved margin in Q1 FY23..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Indian Oil Q4 Review - Strong Refining Margin To Partially Offset Marketing Losses: Motilal Oswal

Indian Oil Q4 Review - Strong Refining Margin To Partially Offset Marketing Losses: Motilal Oswal

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