Geologging Industries Ltd


BSE: 526630 | NSE: NA | ISIN: NA 
Market Cap: [Rs.Cr.] 2 | Face Value: [Rs.] 10
Industry: Oil Drilling / Allied Services

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Management Discussions

GEOLOGGING INDUSTRIES LIMITED ANNUAL REPORT 2011-2012 MANAGEMENT DISCUSSION AND ANALYSIS The Company is in the business of oil field service and mainly focused on Mudlogging Services, Drilling Data Monitoring Services. The key issues of the Management Discussion and Analysis are given below. (a) Industry structure and developments: The size of the oil and gas industry in terms of turnover stands at USD 160 bn. The value of crude oil and LNG imports into India in 2010/11 were around US$98 billion. About 78 per cent of India's petroleum consumption is met from imports (mostly of crude oil), while about 25% of natural gas (including LNG) consumption comes from imports. The growing oil and Natural Gas exploration world over and specifically in India given great opportunity for the company. (b) Strength: The strength of a company is known from the profit it earns during the last years and sound advances. It also depends on the Government policies of taxation. All round economic reforms and consequent growth in the sector will give boost to the company's business. (c) Comment on Current year's performance: Receipts: The Receipt has been phenomenal for the first year of its operations. Operating Expenses : The operating Expenses are well under control. Operating Profits : The Operating Profits are up to industry mark. Indirect Expenses : The Indirect Expenses are under control. Depreciation : Reasonable amount of Depreciation is provided. Profit before tax : Profit before tax is also an improving trend. Taxation : Taxation is Provided as per Income Tax Act. Debtor/Sales : Debtors are reasonable. Creditors/Purchase : The Company has an established credit. d) Opportunities and threats: Over the next decade, global demand for oil & gas is set to rapidly increase as rising populations and economic growth help to drive the industry. This will create a need for additional oil & gas infrastructure to be constructed. At the same time, many countries around the world are currently facing a number of security challenges stemming from civil unrest, terrorist activities, and a competitive global market. Together, these factors will create substantial opportunities for companies involved in the oil & gas infrastructure. (e) Segment wise performance: The business of the Company falls under a single segment i.e. Mudlogging activity related to exploration of oil and natural gas for the purpose of Accounting Standard AS-17. (f) Outlook: The continual increase in demand of oil and other limited resources in india and other countries is expected to give the necessary support to the oil industry. The Company is making all efforts to accelerate growth of its business. It expects to improve its position in the market by focusing on technological advancement and by working aggressively in the areas of productivity, efficiency and cost reductions. (g) Risk and concerns: The main risk factors are internal to the company. The Company is expecting some big contracts from Indian and Non-Indian corporate in the Current year. The materialization of the same may effects the future operations of the company. (h) Internal control system: Internal audit and other controls have been found to be adequate. These are reviewed periodically by the Audit Committee and found the performance satisfactory. (i) Developments in human resources and industrial relations: Information as per Section 217(2A) of the Companies Act, 1956 read with the Companies (Particular of Employees) Rules, 1975 is not required to be given as no employee falls under it. The Company continued to have cordial relations with all the employees.
GEOLOGGING INDUSTRIES LIMITED ANNUAL REPORT 2004-2005 MANAGEMENT DISCUSSION AND ANALYSIS PERFORMANCE DURING THE YEAR The Company's performance for the year ending March 2005, has considerably improved over year. The Company has captured Mudlogging contracts with GSPC, Niko, GeoEnpro and ONGC Ltd. The positive changes in these contracts are that they bring the Company good returns. This has been achieved through consistent and dedicated marketing efforts carried out by the Company. The Company has been working towards developing foreign markets for its Mudlogging Services. The Company has been setting up alliances and technical tie-ups to be able to better penerate the foreign markets. Your Directors are pleased to announce that the Company has been awarded an operation contract in Indonesia. The Company is further looking at the Nigerian market for Mudlogging Services and is working with a potential client to start operation there. The Company's turnover for this year has been Rs.338.93 lacs against Rs.227.54 lacs in the year which is because of a definite upswing in Company's operations Mudlogging Services. The oil and gas market is right now in favour of our business activity and hence it is very prudent for the Company to direct market development is this area. The Company has plans to diversify into related markets by using its Mudlogging technology to develop hardware and software products for the oil and gas industry. However still much work needs to be done in this area and the Company is right now at the idea firming stage. DIVERSIFICATION The Company is exploring the African, South American and South East Asian markets for export of Mudlogging Services. We are pleased to report that successful dialogue has been set up with prospective clients in these regions. The Company's subsidiary Mono Acriglass Industries Ltd is being referred to BIFR, who is expected to put together a restructuring plan for our subsidiary.

Peer Comparison

Company Market Cap
(Rs. in Cr.)
P/E (TTM)
(x)
P/BV (TTM)
(x)
EV/EBIDTA
(x)
ROE
(%)
ROCE
(%)
D/E
(x)
O N G C 278,780.32 14.65 2.24 7.89 17.6 21.3 0.02
Cairn India 67,321.01 9.00 1.98 3.23 44.5 43.8 0.02
Oil India 29,710.85 9.34 1.55 3.21 19.4 27.2 0.03
Aban Offshore 2,258.74 41.24 1.31 7.74 -2.0 7.9 1.06
Selan Expl. Tech 841.81 19.44 3.55 4.21 20.3 30.8 0.03
Hind.Oil Explor. 692.25 0.00 1.05 0.00 0.0 0.0 0.79
Jindal Drilling 608.00 10.39 0.87 4.97 10.3 14.3 0.01
Asian Oilfield 151.66 0.00 1.71 15.36 0.0 0.0 0.30
Dolphin Offshore 146.07 16.47 0.58 5.83 6.1 10.9 0.45
Alphageo (India) 94.27 0.00 2.47 0.00 -24.1 -21.1 0.06
Shiv-Vani OilGas 68.06 0.00 0.07 6.18 3.7 9.6 2.53
Interlink Petro 51.09 0.00 1.38 0.00 0.0 0.0 1.30
Duke Offshore 8.10 3.04 1.14 2.73 20.0 25.8 0.20
Exxoteq Corpn. 2.43 0.00 0.28 0.00 0.0 0.0 6.17
Geologging Inds 1.61 8.06 0.49 0.00 3.1 8.7 0.54

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Key Information

Key Executives:

Manoranjan Sahu , Director 

S N Chaturvedi , Director 

Alka Shukla , Director 

Sreedhar Tripathy , Director 


Company Head Office / Quarters:
Unit No 2 Pl No 243 P M Road,
Prabhadevi Apt Vile Parle (E),
Mumbai,
Maharashtra-400057
Phone : 91-022-26114943/44/9515/6180744/46
Fax : 91-022-26115747
E-mail : geolog@vsnl.com
Web : http://www.gilgroup.com
Registrars:
Bigshare Services Pvt Ltd
E-2/3 Ansa Indl Est
Saki Vihar Road
Sakinaka Andheri(E)
Mumbai - 400072

Fund Holding

 
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