Mumbai: Financial profiles of state-owned oil marketing companies would improve marginally in FY20 driven by higher Ebitda and better gross refining margins (GRM), India Ratings and Research has said.
The rating agency projects combined gross leverage of the three large state-run OMCs — Indian Oil CorporationNSE -0.87 %, Hindustan PetroleumNSE -1.40 % and Bharat Petroleum — to be between 1.9x and 2.2x during FY20 compared with 2.5x of FY19 and 2.5x in FY18. However, any higher-than-expe ..
Hopes of a stable government and a strong March 2019 quarter helped by record marketing margins have driven a 10-12 per cent rally in shares of IOC, BPCL and HPCL since January 1.
which increased to ₹223 billion in FY19 to reduce in FY20.
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