Oil Equipment & Services
FV – Rs 10; 52wks H/L –268/647.05 ; TTQ – 14 K; CMP – Rs 530(As On October 8th 2015; 13:10) ; Market Cap – Rs 44.5 Crs
Consolidated Financials and Valuations for FY15 (Amt in Rs Crs unless specified)
| Equity Capital | Net worth | Long Term Debt | Total Sales |
PAT | BV (Rs) |
EPS (Rs) | P/E | Industry P/E | P/BV | Promoter’s Stake |
Beta |
| 5.64 | 83 | – | 73 | 14.5 | 147 | 25.7 | 20.6 | 12.90 | 3.6 | 41.98 | 1.5 |
*Virtually Debt Free
Standalone Financials and Valuations for Q1 FY16
Equity Capital |
Net worth |
Total Sales |
PAT | BV (Rs) |
TTM EPS (Rs) |
TTM P/E |
Industry P/E |
P/BV |
Promoter’s Stake |
Beta |
| 5.64 | 82.5 | 5 | (0.5) | 146 |
1.9 |
278 |
12.9 |
3.8 |
41.98 |
1.5 |
Key Updates
- The company will decide and approve, issue of Shares or Warrants on preferential basis Promoters and Promoter Group and Persons other than Promoters in a meeting held on 13th October, 2015.
- The Government is expected to invite bids for seismic survey activities in 26 sedimentary basins in India, covering about 48,000 line km (2D survey) to be conducted between 2015-16 and 2018-19.
- Every USD10 per barrel fall in oil price can enhance India’s GDP growth by around 0.15%, lowers WPI by around 0.5% and CPI by about 0.2% and further improves India’s current account balance by around USD 9 billion – 0.5% of GDP.
- The Prime Minister set a goal of reducing India’s dependence on imports from 77% of its ‘energy’ requirement by 10% by 2022, and by 50% by 2030 keeping India’s hunt for oil expected to accelerate.
- NELP- X xpected in the current year wherein government will offer 42 oil blocks to successful bidders.
- By 2035, the world’s population is projected to reach 8.7 billion, which means an additional 1.6 billion people will need energy.
Overview
Alphageo (India) Limited is the largest onshore integrated seismic service provider in the private sector and enjoys a market leadership in seismic survey. Alphageo was incorporated in 1987 to offer seismic and other related services to the rapidly growing oil exploration and production sector. The Company’s globally-benchmarked competence comprises acquisition, processing and interpretation of seismic data for oil exploration. In the business of seismic services, Alphageo’s competitive strengths comprise deep insight into challenging terrains and diverse topographies environmental sensitivity, technology leadership, highly skilled manpower and state of the art equipment. The company possesses indepth expertise in operating with globally accepted technologies for seismic survey, namely 2D, 3D and Seis-loop technologies. Alphageo was the first seismic service provider in India to conduct night operations in urban Thiruvarur to minimise public inconvenience.
| No. of projects Delivered | 49 |
| Area covered under 2D survey | 5000 sq.km |
| No. of 2D projects completed | 28 |
| No. of 3D projects completed | 21 |
Bulk Deals
| Deal Date | Client Name | Deal Type | Quantity | Price (Rs.) |
| 28-Jan-13 | Minal Bharat Patel | P | 242877 | 42.85 |
| 28-Jan-13 | Gandiv Investment Pvt.Ltd | S | 244102 | 42.87 |
| 29-Feb-12 | Sakkhi Barter Pavt.Ltd | S | 28712 | 63.25 |
| 18-Jul-11 | AKG Securities & Consultancy Ltd | S | 25804 | 154.19 |
| 18-Jul-11 | AKG Securities & Consultancy Ltd | P | 25804 | 154.6 |
| 11-Apr-11 | Bharat Shah | S | 38191 | 124 |
| 11-Apr-11 | Acira Consultancy Pvt.Ltd | P | 38191 | 124 |
| 21-Mar-11 | Minal Bharat Patel | S | 50000 | 103.5 |
| 21-Mar-11 | Hardik Bharat Patel | P | 50000 | 103.51 |
| 21-Mar-11 | Sound Securities Pvt.Ltd | S | 40150 | 110 |
| 21-Mar-11 | Hirak Leasing & Investment Pvt.Ltd | P | 40150 | 110 |
Management
- Dinesh Alla – CMD
- Venkatesa Pasumarthy – CFO
The Equity Capital is @ Rs 5.64 Crs consisting of 5634767 equity Shares of FV Rs 10 currently held as under
4.98% Of the Promoter’s Holding is Pledged.
Major Non-Promoter Holdings
| Sr.No | Non- Promoters | No. of Shares held | % of shares held |
| 1 | Shivani T Trivedi | 151528 | 2.69 |
| 2 | Arcira Consultancy Pvt Ltd | 136144 | 2.42 |
| 3 | Surendra Kumar Jain | 110943 | 1.97 |
| 4 | Minal B Patel | 75413 | 1.34 |
| 5 | Vasr Consultants and Financial Advisers | 72203 | 1.28 |
| 6 | Tanvi Ruchit Patel | 59301 | 1.05 |
| 7 | JHP Securities Pvt Ltd | 58162 | 1.03 |
| Total | 663694 | 11.78 |
Consolidated Financial Trends (In Rs. Crs)
| Particulars | FY15 | FY14 | FY13 | FY12 | FY11 |
| Equity Paid Up | 5.64 | 5.64 | 5.39 | 5.14 | 5.14 |
| Networth | 83 | 69 | 41 | 49 | 52 |
| Total Debt | 0.8 | 4.4 | 4.6 | 2.7 | 1.2 |
| Net Sales | 73 | 96 | 23 | 43 | 30 |
| Other Income | 0.7 | 1.2 | 0.2 | 2.1 | 0.6 |
| PAT | 14.5 | 26.5 | -10.7 | 5.1 | 11.2 |
| Book Value (Rs) | 147 | 122 | 76 | 95 | 101 |
| EPS (Rs) | 25.7 | 47.0 | -20 | 9.9 | 21.8 |
Risks
- Lack of orders could adversely impact business growth.
- Competition in the seismic survey space is increasing as India is fast inviting global players.
- Timely project completion against all odds is critical for business growth.
- India, the second most populous nation is suffering from a shortage of skilled people.
- Government Dependency and Interference.
- Forex Fluctuations and largely dependent on the crude oil prices.
