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Oil and Pure Gasoline Company Ltd. reported Ebitda stood at Rs 171.6 billion (-16% YoY), 4% beneath our estimate, primarily attributable to higher-than-expected exploratory nicely write-offs in Q3 FY24. revenue after tax was 4% larger than our estimate, primarily aided by larger different revenue and a lower-than-expected tax fee.
The administration has guided for a 5% compound annual development fee in general manufacturing over the subsequent three years, primarily pushed by KG 98/2 and Daman upside improvement. Gasoline manufacturing from the KG 98/2 asset, which can start in Q3 FY25, is anticipated to ramp as much as 10 million metric commonplace cubic meter per day in FY25.
The administration stays assured that ONGC will command a 20% larger gasoline value for brand new wells and that in three years, ~20% of gasoline manufacturing might command such larger pricing.
We lower our standalone FY24 Ebitda/incomes per share estimates by 6%/7% and consolidated FY24 EPS estimate by 8% attributable to a weaker-than-expected efficiency in ONGC Videsh Ltd. throughout 9 months FY24.
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