Oil & Natural Gas Corp. Ltd. · NSE:ONGC
Oil & Natural Gas — Q1 FY2009 Earnings Presentation
20 slides from Oil & Natural Gas's earnings presentation, 2008
Slide 1: Unaudited Financial Results for the Quarter ended 30.06.2008
Unaudited Financial Results for the Quarter ended 30.06.2008
Slide 2: Contents
Contents 6 ONGC Ltd 6 Mangalore Refinery and Petrochemicals Ltd
Slide 3: ONGC: Performance at a Glance
ONGC: Performance at a Glance Rs. in Billion 250 211.73 Trade Purchases 200 25.18 10.50 145.67 150 32.06 8.39 12.96 Other Income 29.39 100 143.99 Levies 50 66.36 94.93 46.11 0 Op. Revenue net of Gross PAT Gross PAT Levies Income Income Q1 FY’09 Q1 FY’08 FY’08 Gross Income Rs. 650.41 Billion; PAT Rs.
Slide 4: ONGC: Production Performance
ONGC: Production Performance Q1 Q1 FY'08 FY'09 FY'08 Crude oil - ONGC MMT 6.41 6.38 25.94 Crude oil-JVs MMT 0.43 0.50 1.99 Total Crude oil MMT 6.84 6.88 27.93 Gas -ONGC BCM 5.63 5.50 22.33 Gas -JVs BCM 0.76 0.60 2.79 Total Gas BCM 6.39 6.10 25.12 LPG ’000 MT 233 229 1034 Naphtha ’000 MT 347 356 1469
Slide 5: ONGC: Sales Performance
ONGC: Sales Performance Q1 Q1 FY'08 FY'09 FY'08 Crude oil - ONGC MMT 5.50 5.44 22.21 Crude oil- JVs MMT 0.43 0.46 1.87 Total Crude Oil (A) MMT 5.93 5.90 24.08 Gas - ONGC BCM 4.45 4.46 17.76 Gas - JVs BCM 0.73 0.57 2.67 Total Gas (B) BCM 5.18 5.03 20.43 LPG ’000 MT 233 230 1037 Naphtha ’000 MT 394 33
Slide 6: ONGC: Financial Performance
ONGC: Financial Performance Rs. in Billion Q1 FY’09 Q1 FY’08 FY’08 Sales Turnover 201.23 137.28 601.37 Less: Trade Purchase 25.18 12.94 65.11 Less: Statutory Levies 32.06 29.39 129.97 Op. Revenue net of Levies 143.99 94.95 406.29 Add: Other Income 9.66 9.13 50.11 Less: Operating Expenses 25.54 16.82
Slide 7: ONGC: Financial Performance
ONGC: Financial Performance Rs. in Billion Q1 FY’09 Q1 FY’08 FY’08 PBDIT 128.05 87.62 350.91 DD&A 27.97 17.55 97.97 Interest 0.04 0.05 0.59 Add: Excess of Insurance 0.66 -- -- Claim over book value Profit Before Tax 100.70 70.02 252.35 Provision for Tax 34.34 23.91 84.73 Fringe Benefit Tax - - 0.60
Slide 8: ONGC: Sales Revenue
ONGC: Sales Revenue Rs. in Billion Q1 FY'09 Q1 FY'08 FY'08 Crude oil 135.75 94.26 401.16 Gas 19.77 17.95 73.39 LPG 6.07 3.49 20.17 Naphtha 16.68 9.24 43.85 C2-C3 2.84 1.68 9.29 SKO 1.35 0.75 3.37 Others 0.23 0.19 0.94 Profit Petroleum (6.64) (3.24) (15.97) MRPL Products 25.18 12.96 65.17 Total Sales
Slide 9: ONGC: Other Income
ONGC: Other Income Rs. in Billion Q1 Q1 FY’08 FY’09 FY’08 Short Term Deposits 4.54 3.72 16.97 Bonds 0.34 0.30 1.21 Site Restoration Fund Deposit 1.67 1.15 4.93 Loans to Subsidiary 1.91 0.29 8.43 Employee Loans 0.06 0.08 0.31 Dividend Income 0.18 0.18 2.88 Others 0.96 3.41 15.38 Total 9.66 9.13 50.11
Slide 10: ONGC: Statutory Levies
ONGC: Statutory Levies Rs. in Billion Q1 Q1 FY’08 FY’09 FY’08 Royalty 13.62 12.96 60.69 Cess 14.35 14.25 58.21 NCC Duty 0.28 0.28 1.13 Excise Duty 0.61 0.40 2.89 Education Cess 0.46 0.45 1.86 Sales Tax 1.45 0.16 0.77 Service Tax 0.06 0.03 0.20 Octroi & BPT 1.22 0.86 4.20 Prior Period Levies 0.01 - 0
Slide 11: ONGC: Statutory Levies
ONGC: Statutory Levies Rs. in Billion Q1 FY’09 Q1 FY’08 FY’08 Royalty - Crude - Offshore 7.88 5.17 23.26 - Onshore 3.18 5.68 28.61 - Joint Venture 0.63 0.41 1.81 Total – Crude 11.69 11.26 53.68 - Gas - Offshore 0.99 0.97 3.88 - Onshore 0.36 0.37 1.47 - Joint Venture 0.58 0.36 1.66 Total – Gas 1.93 1
Slide 12: ONGC: DD&A Cost
ONGC: DD&A Cost Rs. in Billion Q1 FY’09 Q1 FY’08 FY’08 Depletion 9.76 8.56 36.78 Depreciation 3.00 3.09 13.98 Dry Wells 5.51 1.76 22.11 Survey 9.57 4.17 25.76 Impairment 0.04 (0.06) (0.44) Prior Period 0.09 0.03 (0.22) Total 27.97 17.55 97.97 12
Slide 13: ONGC: Impact of Subsidy Discount
ONGC: Impact of Subsidy Discount Rs. in Billion 220.01 19.42 68.18 Statutory Levies 98.11 Corp Tax 14.84 Impact on PAT 132.41 28.30 36.49 54.97 3.10 11.35 22.04 Q1 FY'09 Q1 FY'08 FY'08 13
Slide 14: ONGC: Crude Oil Prices
US$ per bbl ONGC: Crude Oil Prices (Rs./bbl) 140 125.84 130 (5,251) 120 110 100 56.70 85.54 (2,366) (3,443) 90 71.90 80 (2,964) Discount US$/bbl 32.64 70 21.56 (1,314) 60 (889) 50 Post 69.14 Discount 40 52.90 (2,885) 50.34 Rate 30 (2,129) (2,075) 20 10 0 Q1 FY'09 Q1 FY'08 FY'08 14
Slide 15: Mangalore Refinery and Petrochemicals Ltd.
Mangalore Refinery and Petrochemicals Ltd.
Slide 16: MRPL: Thruput & Capacity Utilisation
MRPL: Thruput & Capacity Utilisation MMT 130 % 12.55 130 % 114 % 2.77 3.16 Q1 FY'09 Q1 FY'08 FY'08 16
Slide 17: MRPL: Turnover
MRPL: Turnover Rs. in Billion 373.39 118.69 84.31 Q1 FY'09 Q1 FY'08 FY'08 17
Slide 18: MRPL: Financial Performance
MRPL: Financial Performance Rs. in Billion Q1 FY’09 Q1 FY’08 FY’08 Sales Turnover 107.47 73.76 325.75 Add: Other Income 0.65 1.33 2.12 Gross Revenue 108.12 75.10 327.87 Variation in Stock (7.27) 1.37 0.96 Raw Materials consumed 97.51 65.06 300.80 Operating & Other expenses 3.38 1.15 5.44 Interest &
Slide 19: MRPL: Financial Performance
MRPL: Financial Performance Rs. in Billion Q1 FY’09 Q1 FY’08 FY’08 Sales Turnover 118.69 84.31 373.39 Less: Excise Duty 11.22 10.55 47.64 Gross Revenue 107.47 73.76 325.75 Interest Income 0.21 0.05 0.51 Miscellaneous Income 0.44 0.05 0.22 Provision Write Back -- -- 0.01 Exchange difference -- 1.23 1
Slide 20: MRPL: Margin & Expenses – $/bbl
MRPL: Margin & Expenses – $/bbl Q1 FY’09 Q1 FY’08 FY’08 Gross Margin 18.03 8.27 6.93 Other Income 0.73 0.10 0.20 Exchange Difference (0.86) 0.31 0.03 Other Expenditure - Operating Expenses 0.98 0.48 0.75 - Irrecoverable Tax 0.23 0.21 0.22 - Exports & Coastal Marketing 0.02 0.13 0.07 - Marketing Expe