This Microcap Oil stock deals in the oil and Gas exploration business with its subsidiaries and from step-down subsidiaries hit a 5 percent upper circuit after the Rajasthan Gases sold the stake in the company at Rs. 24.53 per share.
Price Action
With a market capitalization of Rs. 208 Crores, the shares of Gujarat Natural Resources Limited were up by 5 percent in the day’s trade touching a day’s high of Rs. 25.96 per share. The stock was in the upper circuit limit which is 5 percent up from the previous closing price of Rs. 24.73 apiece. The stock has delivered a 61 percent return over the past year and outperformed the Nifty Index.
What Happened
The rise in stock price was related to one among Gujarat Natural resources shareholders – Rajasthan Gases held around 1.35 crore shares (16.94 percent) as of September 2024 and sold around 1.1 crore shares around 13.70 percent of the company at Rs. 24.53 per share on 29th November 2024.
Ravi Omprakash Agrawal who holds around 11.43 percent in Rajasthan Gases as of September 2024 bought 1.1 crore shares at Rs. 24.37 per share on 29th November 2024 as per the BSE Bulk deal.
About the Company
Gujarat Natural Resources Limited focuses on the upstream oil and gas sector in India, primarily operating in the Cambay basin. The company engages in exploration and production activities through its subsidiary, GNRL Oil & Gas Limited, which manages interests in six producing blocks.
GNRL aims to improve operational efficiency while minimizing environmental impact by adopting sustainable practices. Their business model revolves around leveraging technological advancements for efficient resource extraction and maintaining a robust corporate social responsibility framework to engage with local communities. This strategic approach positions GNRL as a key player in India’s energy landscape.
Products and Services
The company primarily offers exploration and production services in the oil and gas sector. Their portfolio includes managing interests in six producing blocks in the Cambay basin, focusing on well engineering and drilling project management. Additionally, GNRL engages in the trading of goods related to its operations, enhancing its service offerings in the energy market.
Financials & Ratios
Its Revenue from operations fell by 29.57 percent year on year from Rs. 7 Crores in Q2FY24 to Rs. 4.93 Crores in Q2FY25, accompanied by losses of Rs. 3.01 Crores to Rs. 0.46 Crores.
The company has a net profit margin of around -14.16 percent and a debt-to-equity ratio of around 0.34 as of FY24.
Shareholding Pattern
As of September 2024, the shareholding pattern with the promoter’s stake holding a share of 3.03 percent in Gujarat Natural Resources, and the public holding around 96.97 percent.
Written by Santhosh S
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