Whalesbook
Arre bhaiyon aur beheno, suno! Oil India Limited ne apna Q3 FY26 ka result nikal diya hai, aur consolidated profit after tax (PAT) pichle saal ki tarah hi ₹1,436 Crore pe theek thaak raha. Iska main reason hai crude oil prices ka 17.16% gir kar $62.84 per barrel ho jaana (pichle saal ye $73.8 tha). Company ka revenue bhi ₹9,111 Crore ke aas paas hi raha.
Refinery Ne Lagayi Aag!
Jabki overall figure flat lag raha hai, company ki Numaligarh Refinery Limited (NRL) ne toh kamaal hi kar diya! NRL ka PAT ₹867 Crore tak pahunch gaya, jo pichle saal ke ₹385 Crore se kaafi zyada hai. Iska Gross Refinery Margin (GRM) bhi 54% badh kar $16.27 per barrel ho gaya hai. Yeh dikhata hai ki company refining mein kitni efficient ho gayi hai, aur prices kam hone par bhi fayda kama rahi hai.
Bade Projects Par Focus: Pipelines Aur Refinery Expansion
OIL rukne walon mein se nahi hai. Ye log apne pipelines aur refinery expansion projects par tezi se kaam kar rahe hain. Numaligarh-Siliguri product pipeline ka mechanical completion ho gaya hai, aur Duliajan-Numaligarh pipeline April 2026 tak start hone wala hai. Paradip-Numaligarh Crude Oil Pipeline bhi 90% tak complete ho chuka hai.
Sabse bada project hai Numaligarh Refinery ka expansion, jise 3 MMTPA se 9 MMTPA tak le jaaya ja raha hai. Iska core unit stabilization Q4 FY26 tak expect hai. Ye sab milkar company ko future mein aur mazboot banayenge.
Production Badhane Ki Taiyari!
Downstream capacity badhane ke liye, OIL apni production bhi badhana chahti hai. FY26 mein 75 wells drill karne ka target hai (jo company ke history mein sabse zyada hai!), aur FY27 mein 100 wells ka plan hai. Crude oil production FY27 mein 3.8 Million Tonnes aur FY28 mein 4.0 Million Tonnes tak pahunchane ka aim hai. Total production 7.5 Million Tonnes of Oil Equivalent (MMTOE) FY27 mein aur 8.5 MMTOE FY28 tak pahunchega, agar gas evacuation infrastructure mein koi gadbad na ho.
Paisa Kahan Se Aa Raha Hai Aur Kahan Ja Raha Hai?
In sab bade plans ke liye kharcha bhi bada hoga. FY26 ke liye capex guidance ₹9,200 Crores se zyada hai, aur FY27-28 mein bhi yehi amount expect hai. NRL ka apna capex FY26 mein ₹8,000 Crores hai, aur total refinery/petrochemical project par lagbhag ₹45,000 Crores lagane ka plan hai.
Is bade kharche ki wajah se consolidated net debt ₹34,000 Crore ho gaya hai. NRL ka apna debt lagbhag ₹16,000 Crore hai, jo baad mein ₹25,000-26,000 Crores tak ja sakta hai.
Exploration Costs Aur Dry Wells Ka Tension!
Ek important baat ye hai ki exploration par kharcha kaafi badh gaya hai. Seismic aur survey costs 9MFY26 mein ₹1,151 Crore the. Aur sabse tension wali baat, dry well write-offs ₹2,000 Crores ho gaye hain 9MFY26 mein (FY25 mein sirf ₹650 Crore the). Company ne bola hai ki ye accounting standards ke hisab se hai aur zyada drilling ki wajah se hua hai, but short term mein profit par asar dalega.
Aage Kya Dekhna Hai? (Outlook)
Company ka focus projects ko time pe complete karne aur India ki energy security badhane par hai. Lekin gas evacuation infrastructure aur crude oil prices ki volatility bade challenges hain. Company BPCL ke Andhra Pradesh refinery mein 10% stake bhi le sakti hai. OIL ne Q3 FY26 ke liye ₹7 per share ka interim dividend bhi declare kiya hai. Stock performance ko in sab updates ke saath track karna hoga!