RATING

RECOMMENDATION

Sell

  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Sell

Business Type

Traditional Business

RATING

RECOMMENDATION

Sell

Business Type

Traditional Business

Nayara Energy Limited engages in refining of crude oil and marketing of petroleum products in India, Singapore, United Arab Emirates, South Africa, etc. The company markets Petcock, Sulphur, high speed diesel, high flash high speed diesel, light diesel oil, bitumen, and fly ash. If you want to buy sell Nayara Energy unlisted shares read all info and find upcoming IPO date, Pre share price, Company review etc.

ISIN

INE011A01019

Face Value

₹10.00

Total Share

1,49,05,61,155

Total Income

₹88,565.60 Cr

Profit After Tax

₹458.20 Cr

EPS

₹3.07

P/E

73.29

P/B

1.68

Market Capitalisation

₹33,537.63 Cr

Enterprise Value

₹46,876.41 Cr

Book Value

₹133.75

Intrinsic Value

₹96.74

Earnings Yield

1.36 %

Sector

Energy

Sub-sector

Oil & Gas - Refinery & Marketing

Category

Delisted

Cashflow - Operations

₹1,831.50 Cr

Cashflow - Financing

-₹1,060.60 Cr

Nayara Energy Growth

Compounded Sales Growth

  • -12.38%

    1 Year

  • 0.76%

    3 Year

  • 7.00%

    5 Year

Pro Only

Compounded Profit Growth

  • -81.67%

    1 Year

  • -11.87%

    3 Year

  • -18.58%

    5 Year

Pro Only

Return On Equity

  • 2.30%

    2021

  • 3.66%

    2019

  • -6.37%

    2017

Pro Only

About Nayara Energy

  • Nayara Energy Ltd. ("Nayara Energy") engages in refining of crude oil and marketing of petroleum products in India, Singapore, Mozambique, the United Arab Emirates, South Africa, and internationally. The company markets petcoke, sulphur, high speed diesel, high flash high speed diesel, light diesel oil, bitumen, and fly ash. 
  • The company owns and operates India’s second largest single-site, state of the art and one of the most modern and complex refineries in the country, with a capacity of 20MMTPA and a high complexity index of 11.8 and constitutes approximately 8% of the Indian refinery capacity.
  • The company is present in entire hydrocarbon value chain from refining to marketing. Now it is gearing up to deliver crude to chemicals too. It is the fastest growing pan-India fuel retail network.
  • In 2016, Nayara Energy was acquired by Rosneft, the world’s largest public oil and gas company by liquid hydrocarbon production and reserves and an investment consortium led by global commodity trading firm Trafigura & UCP Investment Group.
  • It was a publicly traded company until it was taken private in a leveraged buyout which closed on December 30, 2015. It was delisted valued at ₹380 bn. 
  • The company was formerly known as Essar Oil Limited and changed its name to Nayara Energy Limited in May 2018. Nayara Energy Limited was incorporated in 1989 and is based in Mumbai, India.

  • Nayara Energy IPO Details

Right now Company has not filed any DRHP

  • Nayara Energy Merger & Acquisition

Merger

  • On December 14, 2020, Vadinar Oil Terminal Ltd. got merged with the company.  As an integral part of the amalgmation, the non-controlling shareholders of VOTL who were resident in India were issued Non-Convertible debentures (NCDs) having fair value, face value and paid up amount of Rs. 350 each bearing coupon rate of 8% per annum for every 1 fully paid equity share of VOTL and those shareholders who were non-resident in India were to be paid Rs. 350 in cash for each 1 fully paid equity share of VOTL.

Acquisition

  • On August 21, 2017, Petrol Complex Pte. Ltd., United Capital Partners and Trafigura Group Pte. Ltd. completed the acquisition of 98.26% stake in Nayara Energy Ltd. (Essar Oil Ltd.) from Essar Energy Holdings Ltd. and Oil Bidco (Mauritius) Ltd. for approximately Rs. 86,000 crores. Petrol Complex Pte. Ltd. and the consortium of United Capital Partners and Trafigura Group Pte. Ltd. acquired 49.13% stake each in Nayara Energy Ltd. (previously known as Essar Oil Ltd). 
  • On May 29, 2017, Nayara Energy Ltd. (previously known as Essar Oil Ltd.) completed the acquisition of the remaining 73.99% stake in Vadinar Power Company Ltd. from Essar Power Ltd. Essar Oil Ltd. will acquire 293 million equity shares and 391.99 million convertible participating preference shares for an amount not exceeding INR 2.1 billion. 
  • On December 21, 2015, Essar Energy Holdings Ltd. completed the acquisition of an additional 6.96% stake in Nayara Energy Ltd. (previously known as Essar Oil Ltd.) from all public shareholders for Rs. 2650 crores. The bid price has been increased to INR 262.8 per share. BDO India LLP acted as Accountant for Essar Energy Holdings Ltd., Axis Capital Ltd. and JM Financial Institutional Securities Ltd. acted as Financial Advisor for Essar Energy Holdings Ltd., and Link Intime India Pvt. Ltd. acted as Transfer Agent/Registrar for Essar Energy Holdings Ltd.
  • On June 26, 2014, Essar Energy Holdings Ltd. acquired 9.46% stake in Nayara Energy Ltd. (previously known as Essar Oil Ltd.) for Rs. 1480 crores. MZSK and Associates acted as an auditor to Essar Energy Holdings Ltd. in the transaction. The floor price has been set as INR 108.18 per share.
  • On May 23, 2013, Essar Energy Holdings Ltd. completed the acquisition of an additional 2.41% stake in Nayara Energy Ltd. (previously known as Essar Oil Ltd.) from Imperial Consultants and Securities Pvt. Ltd for INR 2.7 billion. Essar Energy acquired 32.9 million shares of Nayara Energy for INR 81.11 each.
  • Nayara Energy Subsidiaries

  • Nayara Energy Singapore Pte Ltd.
  • Coviva Energy Terminals Ltd.
  • Nayara Energy Global Ltd. (under liquidation)
  • Enneagon Ltd. (liquidated on 14th January, 2020)

Nayara Energy Business Model

  • Nayara Energy Singapore Pte Ltd. - Wholesaler of crude petroleum.
  • Coviva Energy Terminals Ltd. - Developer of single point mooring and associated marine infrastructure facilities.
  • Enneagon Ltd. - Data processing, hosting and related service.
  • Nayara Energy Revenue Segmentation

  • Petroleum Products
  • Nayara Energy Product & Services

  • Refinery: The Refinery has an annual capacity of 20 MT (million tonnes) or 405000 barrels per day. It is capable of processing some of the toughest crudes and yet produce high quality Euro IV and Euro VI grade products. It can now produce high quality Bharat Stage (BS VI) compliant fuels that meet international standards.


  • Retail: With a pan – Indian network of 6,059 retail outlets as on 31st March, 2021 with 2,600+ stations in various stages of commissioning, Nayara Energy fuel stations endeavors to reach the length and breadth of the country covering national and state highways as well as rural areas.

  • Nayara Energy Assets

Assets as on 31.03.2021

Tangible Assets

ParticularsAmount (in Rs. Cr.)
Land5286.6
Buildings1206.0
Plant and Machinery36551.2
Furniture and Fixtures12.4
Office Equipment's99.7
Vehicles5.2


Intangible Assets

ParticularsAmount (in Rs. Cr.)
Goodwill10818.4
Other Intangible Assets28.0


  • Nayara Energy Industry Overview

Industry Statistics

  • Petroleum production means the production of crude oil or other forms of crude oil, as well as the production of petroleum products from purchased items. Refining means the cracking, distillation, separation, conversion, upgrading and finishing of refined petroleum or petroleum products. Marketing means the distribution, transfer or sale of petroleum and petroleum products for wholesale or retail purposes.
  • According to Netscribes, in 2020 India accounted for 0.9% of global crude production, which is currently dominated by Oil and Natural Gas Corporation and Indian Oil Corporation Ltd. Oil manufacturing has been witnessing a steady decline since the past few years with production declining by 7.2% in 2020.
  • According to Netscribes, the production of oil in India stood at 771.00 thousand barrels per day in 2020 and is expected to reach 591.63 thousand barrels per day by 2026. The main reasons for decline include decreasing productivity of ageing wells which has led to the steady decline in production volume of crude oil, limited discovery of oil and gas fields, and long approval process and exorbitant taxes which have demotivated the entry of foreign private companies in the market.
  • In 2020, India accounted for 5.3% of global crude consumption, it is the third largest consumer of oil after China and USA. In terms of consumption, the crude oil market stood at 4,669.00 thousand barrels per day in 2020 and is estimated to reach 6,132.28 thousand barrels by 2026, expanding at a compound annual growth rate (CAGR) of 4.40% during the 2021-2026 period. The growth is primarily driven by favorable macroeconomic factors, growth in the transportation sector and progression of technology. The demand of petroleum products is expected to be driven by sectors such as residential, transport and energy.


  • However, the consumption was severely impacted by stringent lockdown measures as the demand for fuel in transportation and the industrial sector dipped suddenly. Movement restrictions imposed by the lockdown measures marked a severe impact on both oil and gas production as well as consumption.
  • Though, with signs of economic recovery it is anticipated to provide impetus to the crude oil sector.
  • Crude oil price react to many variables, including supply and demand prospects, and perceived risk of market disruptions. Some important factors which affect demand for crude oil includes transportation, population growth, and seasonal changes.


  • In the spring of 2020, crude oil prices collapsed amid covid-19 pandemic and economic slowdown, OPEC and its allies agreed to historic production cuts to stabilize prices, but they still dropped to 20 year lows of $19.33 per barrel in April 21, 2020.
  • Due to the current disruption in crude oil supply due to Russia-Ukraine war, the brent crude oil prices has increased to $123.48 per barrel on March 08, 2022.
  • Competitive Landscape: The Indian oil and gas market has major players like Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd., Oil and Natural Gas Corporation, Oil India Ltd., Reliance Industries Ltd., Indian Oil Corporation Ltd., Mangalore Refinery and Petrochemicals Ltd. and Chennai Petroleum Corporation Ltd.

Future Prospects

  • India is planning to double its refining capacity to 450-500 MT by 2030.
  • Energy demand of India is anticipated to grow faster than energy demand of all major economies on the back of continuous robust economic growth. India’s energy demand is expected to double to 1,516 MT by 2035 from 754 MT in 2017. Moreover, the country’s share in global primary energy consumption is projected to increase by two-fold by 2035.
  • Crude oil consumption is expected to grow at a CAGR of 4.66% to 500 MT by 2040 from 201.26 MT in 2021.
  • India's oil demand is projected to increase at the fastest pace in the world to reach 10 million barrels per day by 2030, from 4.9 million barrels per day in 2021.
  • India's diesel demand is expected to double to 163 MT by 2029-30 with diesel and gasoline covering 58% of India's oil demand by 2045.

Government Initiatives

  • In the Union Budget 2022-23, the customs duty on certain chemicals such as methanol, acetic acid and heavy feed stocks for petroleum refining were reduced.
  • In February 2022, Minister of Petroleum and Natural Gas said that India will more than double its exploration area of oil and gas to 0.5 million square km. by 2025 and 1 million square km, by 2030 with a view to increase domestic impact.
  • In October 2021, the Union Ministry of Petroleum and Natural Gas approved a revised project cost of Rs. 28,026 crores to increase refining capacity for the ongoing Numaligarh Refinery Expansion Project from 3 mmtpa to 9 mmtpa.
  • In September 2021, the Indian government approved oil and gas projects worth Rs. 1 lakh crores in Northeast India. These projects are expected to be completed in 2025.
  • In July 2021, the Department for Promotion of Industry and Internal Trade approved an order allowing 100% foreign direct investments under automatic route for oil and gas PSUs.
  • In February 2021, Prime Minister Narendra Modi announced that the Government of India plans to invest Rs. 7.5 trillion on oil and gas infrastructure in the next five years.

Nayara Energy Awards & Achievements

  • The company received six awards for system performance from regulatory and industrial bodies, such as Director Industrial Safety & Health, Oil Industry Safety Directorate, Quality Circle Forum of India and Confederation of Indian Industry among others.
  • Some of the prestigious awards include ''Shram Bhushan'' issued by Director Industrial Safety & Health for the individual contribution and excellent energy efficient unit for its energy management system.

Nayara Energy Strengths

  • The company optimized performance through the introduction of new products such as marine fuel oil, heavy naphtha and high density diesel giving it market share gains in volatile markets.
  • The company replaced its heavy crude diet with optimum light crudes and achieved worthwhile cost savings.
  • The company generated value through significantly higher utilization of its refinery operations, as compared to industry peers.

Nayara Energy Shortcomings

  • The company is exposed to increasing environmental regulations and safety risks associated with its refining business.
  • The company is also exposed to governance risks due to its private and concentrated ownership structure.

Nayara Energy Opportunities

  • From October 2020, the company has been commissioning new outlets in Nayara brand and is set to expand its network to 7,600 outlets in next 3 years.
  • The company is undergoing phase 1 expansion plan, which entails existing unit revamps, a propylene recovery unit and a 450 ktpa polypropylene production unit, is set for execution stage.

Nayara Energy Threats

  • Exposure to volatility of crude prices, crack spreads and foreign exchange rates.
  • Strongly correlated with the economic environment.
Nayara Energy Rating

  • RECOMMENDATION

    Sell

  • Nayara Energy Detail Info

Industry Statistics

PRIVATE LIMITED

Registered In

India

last Updated

20/05/2022

Registered Date

12/09/1989

Planify Ticker

NE

Reg Office: Khambhalia, Post Box No-24, Dist. Devbhumi Dwarka, Gujarat.

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This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

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