Our SOTP target is Rs 314/sh (9x Jun 20 standalone core EPS + Rs 86/sh from investments). Maintain BUY. OILs 1QFY19 revenue was at Rs 33.9bn (+45.4% YoY, 13.1% QoQ), led by higher oil realisations at Rs 4,823/bbl (+54.6% YoY, +15.4% QoQ) and increase in natural gas realisation to USD 2.9/mmbtu (+16.6% YoY). Partially offset by 0.6% reduction in crude oil sales volumes to 0.82mmt. EBITDA was up 61.1% YoY and 75.9% QoQ to Rs 14.08bn.