During Wednesday’s trading session, the shares of a company in the business of oil & gas exploration and production surged nearly 10 percent to Rs. 921.3 on BSE, after the company reported Q2 FY25 results with a rise in net profit by nearly 17.6 percent QoQ and 127.7 percent YoY.
With a market cap of Rs. 1,366.5 crores, at 12:00 p.m., the shares of Selan Exploration Technology Limited were trading in the green at Rs. 897, up by 7 percent, compared to its previous closing price of Rs. 838.15.
What’s the news:
The fluctuations in the share prices were observed after Selan Exploration Technology Limited announced the financial results for Q2 FY25, through the latest filings with the stock exchanges on Tuesday post-market hours.
For Q2 FY25, Selan Exploration Technology reported consolidated revenue from operations of Rs. 69 crores, reflecting a significant growth of around 8.7 percent QoQ from Rs. 63.5 crores in Q1 FY25, as well as an increase of about 76 percent YoY from Rs. 39.2 crores in Q2 FY24, despite the decline in commodity prices.
The company’s net profit for Q2 FY25 grew to Rs. 21.4 crores, representing a significant increase of around 17.6 percent QoQ from Rs. 18.2 crores in Q1 FY25, as well as a year-on-year increase of nearly 127.7 percent from Rs. 9.4 crores in Q2 FY24.
On a quarter-on-quarter basis, the EBITDA increased from Rs. 35.5 crores in Q1 FY25 to Rs. 40.8 crores in Q2 FY25, registering a growth of about 15 percent YoY.
Selan Exploration continues to maintain strong EBITDA margins despite lower commodity prices, due to its focus on proactive maintenance measures in our production operations and prudent financial practices.
Shareholding Pattern:
As per the latest shareholding pattern, the Promoters hold a 30.46 percent stake in the company, Foreign Institutional Investors (FII) hold a 4.62 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 64.8 percent and 0.12 percent stake in Selan Exploration Technology, respectively.
As of September 2024 shareholding data available with the BSE, the ace investor Dolly Khanna holds a 1.73 percent stake in the company.
Stock Performance:
The stock has delivered multibagger returns of nearly 114 percent in one year, and around 41.5 percent of positive returns in the last six months. So far in 2024, the shares of Selan Exploration Technology have given positive returns of about 82.8 percent.
About the company:
Established in 1985, Selan Exploration Technology Limited is engaged in the business of Oil & Gas Exploration and Production (E&P) since 1992.
Selan Exploration is among the first private sector entities to obtain rights for developing discovered oil and gas fields in Gujarat, after the Government of India opened the sector to private players in the early 1990’s.
The company has signed Production Sharing Contracts (PSCs) with the Government of India (GOI) for the Bakrol, Lohar and Karjisan fields.
Written by Shivani Singh
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