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The share price of this small-cap crude oil and natural gas firm went up by 7.2 percent to an Intraday high of Rs 203.80 per share on Tuesday after the company announced their export flowlines are cleaned up to produce more gas.

With a market capitalization of Rs 2,591.97 crores, the shares of Hindustan Oil Exploration Company Ltd went up by 7.2 percent and closed at Rs 196 a piece on Tuesday’s market session, compared to today’s high of Rs 203.80 per share and to a previous close of Rs 190.90 per share.

According to the company’s stock exchange filings, the firm announced that the export flowline in their Block B-80 is being cleaned up, and both their wells, D1 and D2, are prepared for increased gas production. The current field production is approximately 1,300 barrels of oil per day (BOPD) and 6 million standard cubic feet per day (MMSCFD) of gas.

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Reviewing the financials of Hindustan Oil Exploration firm from a YoY basis, the revenue from operations increased by 34  percent from Rs. 559 crores in FY22-23 to Rs 749 crores in FY23-24. While the net profits of the firm increased by 16.4 percent from Rs. 194 crores in FY22-23 to Rs 226 crores in FY23-24.

The company’s future growth strategy focuses on building an offshore operating edge, seizing growth opportunities in offshore and northeastern regions, and leveraging existing infrastructure to add attractive, synergistic assets.

As for the net production capacity of the firm on a year-on-year basis,  it declined by 42.3 percent from 3,759 BOPD in FY22-23 to 2,179 BOEPD in FY 23-24. Also on a quarterly basis, it decreased by 10.31 percent from 2,948 BOPD  in Q3FY23-24 to 2,644 BOPD  in Q4 FY23-24.

In terms of return ratios for the year 2024, it has reported a return on equity (ROE) of 19.28 percent and a return on capital employed (ROCE ) of 16.28 percent. It has also reported a net profit margin of 30.25 percent.

The shares of this company generated an overall return of 5.34  percent over the past 5 days and 15.66  percent over the past 6 months. 

As of March 2024, the firm’s shareholding pattern stood at  97.99 percent for the public, 1.31 percent for foreign institutional investors, and 0.69  percent for domestic institutional investors. 

Incorporated in 1983, Hindustan Oil Exploration Company Limited is engaged in the exploration, development, and production of crude oil and natural gas in India both onshore and offshore. 

Written By Zahal.

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