OMCs Update - Earnings Recovery Continues: Prabhudas Lilladher

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. .Prabhudas Lilladher Report.In Q3 FY23 oil marketing companies turned profitable at Rs 27.4 billion after H1 FY23 losses of Rs 227 billion given- improvement in marketing margins (blended marketing loss Rs 1.6/litre) andhealthy refining margins at $9.1- 15.9/barrel of oil. A year into the Ukraine-Russia war has led to high energy prices resulting in steep losses and severe OMCs underperformance (5-25%). However, oil and product prices are now down by 12-18% versus last year. Going forward, we expect OMCs to report profits of ~Rs 128 billion in Q4 FY23, based on current marketing margin trends and stock performance to reflect improving fundamentals. We maintain our estimates, recommendations and reiterate a positive stance on the sector..Click on the attachment to read the full report:.India's Gas Sector Sees Stronger Tidings In FY24E: ICICI Securities.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.

OMCs Update - Earnings Recovery Continues: Prabhudas Lilladher

Going forward, we expect OMCs to report profits of ~Rs 128 billion in Q4 FY23.

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