⚡ Flash Summary

Mari Energies Limited (MARI) reported its financial results for the quarter ended September 30, 2025. The company achieved net sales of Rs. 45.4 billion and a net profit of Rs. 15.6 billion, resulting in an EPS of Rs. 13.03 per share. Profitability was impacted by additional 15% wellhead payments on the Mari Field since November 2024. Despite this and some curtailment, MARI demonstrated resilience.

📌 Key Takeaways

• 1. 💰 Net Sales: Rs. 45.4 billion for Q1 2025-26.
• 2. 📉 Net Profit: Rs. 15.6 billion for Q1 2025-26.
• 3. ℹ️ EPS: Rs. 13.03 per share for Q1 2025-26.
• 4. ⚠️ Impact: Profit impacted by additional 15% wellhead payments.
• 5. 🏭 Operational Resilience: Company demonstrated resilience despite curtailment.
• 6. ❌ Cash Dividend: NIL.
• 7. ❌ Bonus Shares: NIL.
• 8. ❌ Right Shares: NIL.
• 9. ⬆️ Gross Sales: Increased from Rs. 51.203 billion to Rs. 51.409 billion.
• 10. ⬇️ Profit before taxation decreased from Rs. 29.128 billion to Rs. 23.051 billion.

🎯 Investment Thesis

Based on the current results, a HOLD recommendation is appropriate. The company has demonstrated resilience, but the increased wellhead charges are significantly impacting profitability. Price target should be reevaluated based on future earnings potential, with increased wellhead charges and oil prices considered. Time horizon: Medium Term.