We anticipate a sharp sequential decline in refining margins for OMCs in 1QFY25F, supported by the notable decline in spreads for transportation fuels, including gasoline (down $4.4 per barrel QoQ), diesel (down $7.2 per barrel QoQ), and jet fuel/kerosene (down $7.2 per barrel QoQ). Inventory losses will also have a modest impact, as they will follow a $0.3 per barrel decline in end-period crude oil prices, the statement said. Refinement margins of $6.3 per barrel for BPCL, $5.6 per barrel for IOC, and $5.3 per barrel for HPCL are projected by Nomura.

Reliance Industries Q1 results preview

According to Nomura India, RIL’s 1QFY25 consolidated Ebitda may reduce by 7% sequentially to Rs 39,400 crore as a result of a significant decline in O2C offset by continued growth in Jio and Retail’s consumer-facing operations.

“We anticipate that RIL will keep generating robust growth in all of its customer-facing activities. Based on robust EoP subscriber additions of 95 lakh and a little increase in ARPU to Rs 182.70 per month (from Rs 181.7 per month in the previous quarter), we project Jio’s Ebitda of Rs 14,200 crore to expand 4% QoQ in 1QFY25. We predict that RR’s core retail revenue of Rs 52,100 crore will increase by 15% YoY (4% QoQ), and that its EBITda of Rs 5,700 crore will increase by 17%.

ONGC, Oil India Q1 result previews

Nomura projects that in the first quarter of FY25, ONGC’s Ebitda will drop by 4% sequentially to Rs 16,700 crore. According to current production patterns, overall crude oil sales volumes are expected to fall 1% QoQ/YoY to 4.7 million tonnes, while overall gas sales volumes are expected to decline 1% QoQ/7% YoY to 3.8 billion cm.

Domestic gas prices are expected to climb by 1% QoQ to $74.5 per barrel from $73.8 per barrel in the previous quarter, which is the net crude oil realization (post-SAED). According to recent production patterns, we project that OIL’s Ebitda would climb by 8% QoQ to Rs 25.2 billion, supported by: (1) a 1% increase in gas sales volumes to 0.7 billion and a 2% increase in oil sales volumes to 0.9 million tons.

GAIL, Petronet LNG, MGL, IGL, GSPL, Gujarat Gas Q1 result previews

Nomura estimates that GAIL’s Q1 Ebitda of Rs 3,630 crore, up 7% QoQ from Rs 3,430 crore in the prior quarter, was supported by increase in all categories, with the exception of LPG and LHC production. We project a 4% QoQ growth in gas transmission EBIT of Rs 12.1 billion, which is based on a 3% QoQ/9% YoY increase in volumes to 127mmscmd and generally stable rates at Rs 2.4/scm. We project a 12% QoQ fall in LPG and LHC production EBIT, supported by a 3% QoQ decline in realization to Rs 53/kg, while sales volumes are expected to stay relatively stable at 260k tons,” the statement stated.

Nomura projects that GAIL will earn Rs 1,900 crore in net income, an 11% quarterly decrease as lower other income balances increased Ebitda. Petronet LNG’s Q1 Ebitda is expected to reach Rs 1,220 crore, up 14% QoQ due to improved spot volume margins and a 5% increase in volumes at the Dahej terminal to 229 tbtu. Nomura projects that utilization at the Kochi terminal would be constant at 24% while utilization at the Dahej terminal will increase to 103% from 98% in the previous quarter. IGL’s Ebitda is expected to be Rs 470 crore, down 9% on a quarterly basis due to a fall in gross margins offsetting robust volume increase.

We project 8.8mmscmd in sales volumes to expand at a rate of 7% YoY, which will stabilize QoQ. This growth will be driven by a 6% YoY increase in CNG volume and a 14% YoY increase in I&C on a low base. Unit Ebitda of Rs 6.1/scm will fall 8 per cent QoQ from Rs 6.6/scm in the previous quarter, according to our projection of gross margins of Rs 12.1/scm, which will decline 8 per cent QoQ from Rs 13.1/scm in the previous quarter,” the statement read. Nomura projected MGL’s Ebitda of Rs 370 crore, down 5% QoQ as robust volume delivery is countered by a drop in gross margins due to lower CNG realizations of Rs 1.8/kg on average.

Reliance Industries Price Forecast for 2025, 2030, 2040

Category: Stock Market

RIL More Informations: Reliance Industries Share Price Target 2024, 2025 To 2030

ONGC Share Price Target 2024, 2025 To 2030 Forecast

Ongc More Informations: ONGC Share Price Target 2024, 2025 To 2030 More Details

HFCL Share Price Target 2024, 2025, To 2030 Forevast

HFCL Share Price Target 2024, 2025, 2027, 2030, 2040

• The price of HFCL could be around ₹130 at the end of the year 2024.
• The price of HFCL could be around ₹182 at the end of the year 2025.
• The price of HFCL could be around ₹251 at the end of the year 2026.
• The price of HFCL could be around ₹393 at the end of the year 2030.
• The price of HFCL could be around ₹597 at the end of the year 2040.

HFCL Our Details: A2Z Infra Engineering Share Price Target 2024 To 2030

BPCL Share Price Target 2024, 2025, To 2030 Forevast

BPCL More Details: BPCL Share Price Target 2024, 2025 To 2030

IOC Share Price Target 2024, 2025 To 2030 Forecast

Also Read: IOC Share Price Target 2024, 2025 To 2035 More Informations

GAIL Share Price Target 2024, 2025 To 2030 Forecast

Also Read: GAIL Share Price Target 2024, 2025, 2026 To 2030 Full Informations

IGL Share Price Target 2024, 2025 To 2030 Forecast

MGL Share Price Target 2024, 2025 To 2030 Forecast

Gujarat Gas Share Price Target 2024, 2025 To 2030 Forecast

Disclaimer

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