Buy Oil India, target price Rs 255: Emkay Global

Emkay Global has buy call on Oil India Ltd. with a target price of Rs 255. The current market price of Oil India Ltd. is Rs 241.2.

Oil India Ltd., incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 26139.59 Crore) operating in Gas & Petroleum sector.

Oil India Ltd. key Products/Revenue Segments include Oil Crude, Gas Natural, Other Operating Revenue, Income From Transportation Services, Renewable Energy System, Condensate and Income from OFC Fibre Leasing for the year ending 31-Mar-2019.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 6276.58 Crore, down -12.75 % from last quarter Total Income of Rs 7193.40 Crore and up 233.88 % from last year same quarter Total Income of Rs 1879.89 Crore. Company reported net profit after tax of Rs 1036.82 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 56.7 per cent stake in the company as of June 30, 2021, while FIIs held 8.5 per cent, DIIs 18.5 per cent and public and others 16.3 per cent.