04 Sep 2025, 13:44 IST
Numaligarh Refinery (NRL)
JM Financial
The note reports NRL's 1QFY25 GRM before excise duty benefit was USD 6.4/bbl versus JMFe of USD 9/bbl, with throughput of 764mmt and EBITDA of INR 7.3bn and PAT of INR 4.3bn, all below estimates; NRL is valued at 7.0x forward PE contributing INR 242/share to Oil India's target.
From Oil India 1QFY25, written by JM Financial and hosted by Investment Guru India. Orivam summarised it; the view is JM Financial's, not Orivam's.
Open the original PDF on Investment Guru India →Research PDFs are often removed by the firms that publish them. The summary above is kept so this page still means something if that happens.