Multibagger oil stock hits record high on Q4 earnings, check details

Shares of Selan Exploration zoomed 20% are in focus today after the firm reported a 103% rise in Q4 net profit.  Profit climbed to Rs 12.25 crore in Q4 against Rs 6.03 crore in the March 2023 quarter. Revenue climbed 26% to Rs 56.28 crore in the last quarter against Rs 44.75 crore in the corresponding quarter of the previous fiscal. EBITDA in Q4 rose 49.17% to Rs 28.06 crore against Rs 18.81 crore in the corresponding quarter of the previous fiscal. EPS climbed to Rs 8.06 in Q4 against Rs 3.97 in the Q4 of FY23.

On Tuesday, Selan Exploration stock climbed 20% to a record high of Rs 724.85 against the previous close of Rs 604.05 on BSE. Market cap of the firm rose to Rs 1074.18 lakh crore. The multibagger stock hit a 52 week low of Rs 261 on May 26, 2023

Profit in the last fiscal climbed to Rs 32.78 crore in Q4 against Rs 30.85 crore in the March 2023 fiscal. Revenue rose to Rs 170.57 crore in FY 24 against Rs 121.95 crore in FY23. EBITDA in FY24 rose to Rs 83.43 crore against Rs 62.71 crore in the previous fiscal.

Selan Exploration shares have gained 260% in two years and risen 158% in a year.

In terms of technicals, the relative strength index (RSI) of Selan Exploration stands at 59.2, signaling the stock is neither oversold nor overbought. The oil exploration stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages. 

Selan Exploration is engaged in the business of oil & gas exploration and production.