Stockrabit · Analysts
Questions across 3 calls

Sumeet Rohra

Smartsun Capital Private Limited

NBCC (India) Limited

NBCC (India) Limited CC-Nov25.pdf · 2025-11-14
I would like to congratulate you on a good set of numbers. Sir, my question is more related on the overall business because today, if you see your order book is about INR1,28,000. Now sir, my sense is that this order book will have to be executed over a period of 4 to 5 years. So , it is not it fair to understand that your revenue should actually start climbing very fast because most of these orders which you have, you would have to execute over the next 3, 4 years. Secondly, sir, if you can please throw some light on the order visibility which you see because clearly is the focus which we are picking up is basically of development. And you are a key instrumental player who is basically in this segment. Sir, can you t hrow some light on order visibility which you see. And even on the profitability side, if we take a 3 -year view, can you also throw a little bit of light on how you see profits evolve, sir?
Sure. But sir, I mean, my point is that I understand that this year, you will see about a 20%, 25% growth in revenue. But sir, my understanding, I mean, if you can correct me that going ahead from next financial year, your revenue should pick up at a faster pace, right? Because, I mean, as you keep awarding more and more orders. I am sorry?

Hindustan Petroleum Corporation Limited

Hindustan Petroleum Corporation Limited CC-Dec24.pdf · 2025-01-24
You have done extremely splendid financial performance in terms of core metrics. So, sir, actually, I was just looking at it that as you highlighted that the LPG under-recovery is about 7,600 crores which effectively is not our domain, which is the Government of India. And in spite of that, you reported 4,100. So, sir, effectively if I compare year-on-year on the nine months of 31/12/2023 you are exactly at the same metrics which is 11,800 crores which is highly commendable in such a challenging environment. But now, sir, here my question to you is more as an investor. So, sir, if you see, I mean adjusting for the LPG, which again is not HPCL problem. You have done Rs.55 EPS. Assuming that crude continues to remain where it is, and with Mr. Trump now talking about Saudi to lower oil prices, so effectively Brent would be somewhere around maybe lower by $5. So, effectively, sir, your core operations are doing extremely well and you will probably end the year with a similar number like last year, which is about 14,000, 15,000 crores, which is commendable. Also sir, in terms of IC, your throughput is up by about 12%, 12.5% and your market sales are also up above 9%, 10%. Now, sir, this is in spite of economy, which is challenging and you see today various sectors are posting degrowth. So, it is extremely exciting that you are doing so well in an environment which is as tough as it is. But sir, now my question is more from an investor point of view. The thing is that today in spite of you doing so well, it doesn't deserve the kind of valuation which today HPCL command, right, because, I mean, if you end up with a Rs.75 EPS for the year, a high quality stock which has got an ROE of 25%, surely does deserve to be treated at five times multiple, right, in spite of having a lubricant which is basically three times the size of Castrol. So, effectively, sir, our lubricant itself would be about 30,000, 35,000 crores on a bare minimum. So, sir, if you know some measures could be taken to expedite the value unlocking that would go a long way in building the value for this glorious entity which you have. Now, sir, my question to you is basically on the financial metrics which are as strong as they are, so, sir, my sense is that the $5 billion EBITDA and 16,000 to 18,000 crores PAT which you are expecting in FY'28 could actually come as soon as next financial year, right, I mean, I clearly see that your Vizag refinery, which you explained the residue upgradation project is also now going to be commissioned very soon, so sir, can you explain so that will basically improve GRMs by $3 to $4 on the entire 15, 16 million metric tons, right, so that will actually improve the financial metrics in a big way, right, sir?
One small point I have is that sir now with our peak debt which has now gone and you would be throwing out cash like water. I would seriously request to that at some point of time you should consider a liberal buyback because I mean, HPCL has been the only company in PSUs to do a buyback from market. So, I really request you to please consider the same, because clearly this company does not deserve the valuation which it is getting today sir. That's something I would really request you to please consider.

GAIL (India) Limited

GAIL (India) Limited CC-Jun24.pdf · 2024-07-31
Thank you very much for a detailed presentatio n and congratulations on excellent results. Sir, my question is more to ask you from an investor perspective, which clearly emphasizes on as gas going ahead in the proportion of the country's growth. So, how do you see basically GAIL over a two -to-three ye ar perspective in terms of volumes one, and secondly sir, more on profitability because that will give us investors better perspective on how we are shaping up for the next 3 to 5 years sir?
Yes, sir. I mean, you have, but if you can throw some perspective on financial numbers as well, it will be helpful.