State Oil Limited

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state oil limited Company Information

Live

MatureMegaRapid

Company Number

04112423

Website

http://prax.com

Registered Address

harvest house, horizon business village, weybridge, surrey, KT13 0TJ

Industry

Wholesale of petroleum and petroleum products

Retail sale of automotive fuel in specialised stores

Telephone

01932843354

Next Accounts Due

November 2024

Group Structure

View All

Directors

Winston Soosaipillai23 Years

View All

Shareholders

prax group limited 100%

state oil limited Estimated Valuation

£2.9b

Pomanda estimates the enterprise value of STATE OIL LIMITED at £2.9b based on a Turnover of £8.5b and 0.35x industry multiple (adjusted for size and gross margin).

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State Oil Limited is a live company located in weybridge, KT13 0TJ with a Companies House number of 04112423. It operates in the wholesale of petroleum and petroleum products sector, SIC Code 46711. Founded in November 2000, it's largest shareholder is prax group limited with a 100% stake. State Oil Limited is a mature, mega sized company, Pomanda has estimated its turnover at £8.5b with rapid growth in recent years.

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Pomanda's financial health check has awarded State Oil Limited a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 8 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

4 Strong

0 Regular

8 Weak

Size

annual sales of £8.5b, make it larger than the average company (£53.5m)

Growth

3 year (CAGR) sales growth of 55%, show it is growing at a faster rate (10.1%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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STATE OIL LIMITED group structure

State Oil Limited has 21 subsidiary companies.

STATE OIL LIMITED Shareholders

prax group limited

100%

State Oil Limited currently has 4 directors. The longest serving directors include Mr Winston Soosaipillai (Nov 2000) and Mr Winston Soosaipillai (Nov 2000).

officer	country	age	start	end	role
Mr Winston Soosaipillai		51 years	Nov 2000	-	Director
Mr Winston Soosaipillai	United Kingdom	51 years	Nov 2000	-	Director
Mr Julian Vickers	United Kingdom	58 years	Dec 2021	-	Director
Mr Mark Ware		65 years	Dec 2021	-	Director

EXPORT

State Oil Limited's latest turnover from February 2023 is £8.5 billion and the company has net assets of £427.4 million. According to their latest financial statements, State Oil Limited has 1,308 employees and maintains cash reserves of £101.9 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Turnover	8,477,061,535	7,999,750,142	2,773,167,417	2,267,382,383	3,011,832,641	2,011,856,925	1,747,688,405	2,180,375,367	1,123,515,754	845,833,032	633,502,245	540,560,419	419,681,073	261,613,452
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	8,239,212,420	7,866,470,446	2,678,088,430	2,198,757,878	2,963,796,129	1,981,204,839	1,726,035,378	2,163,055,913	1,109,343,269	835,429,837	623,713,165	531,491,823	412,765,964	255,477,473
Gross Profit	237,849,115	133,279,696	95,078,987	68,624,505	48,036,512	30,652,087	21,653,027	17,319,454	14,172,485	10,403,195	9,789,080	9,068,596	6,915,109	6,135,979
Admin Expenses	169,912,671	145,961,025	73,918,454	45,339,293	37,024,994	25,203,076	16,159,333	12,205,100	7,494,134	4,429,500	3,434,457	3,287,267	4,129,474	3,444,492
Operating Profit	67,936,444	-12,681,329	21,160,533	23,285,212	11,011,518	5,449,011	5,493,694	5,114,354	6,678,351	5,973,695	6,354,623	5,781,329	2,785,635	2,691,487
Interest Payable	64,245,169	56,930,541	16,811,402	15,335,629	7,798,323	2,939,998	1,729,976	1,618,558	2,251,019	1,209,550	1,185,751	1,169,030	838,790	429,288
Interest Receivable	0	21,023	19,415	42,503	21,938	112,953	50,042	22,711	8,833	8,885	4,022	3,323	48,695	12,176
Pre-Tax Profit	3,691,275	-69,590,847	445,828,259	7,992,086	3,175,586	2,504,206	3,972,766	3,518,508	4,436,165	4,773,030	5,172,894	4,615,622	1,995,540	2,274,377
Tax	13,105,038	11,693,216	-5,212,250	-1,686,208	152,785	-685,733	-71,366	-853,237	-1,052,343	-1,133,731	-1,267,260	-1,255,921	-592,417	-671,037
Profit After Tax	16,796,313	-57,897,631	440,616,009	6,305,877	3,328,371	1,818,473	3,901,401	2,665,270	3,383,822	3,639,299	3,905,634	3,359,701	1,403,123	1,603,340
Dividends Paid	0	1,664,915	612,479	327,569	258,560	414,163	1,207,006	1,314,799	986,705	1,750,000	500,000	250,000	150,000	250,000
Retained Profit	16,796,313	-59,562,545	440,003,530	5,978,309	3,069,811	1,404,310	2,694,394	1,350,471	2,397,117	1,889,299	3,405,634	3,109,701	1,253,123	1,353,340
Employee Costs	80,593,515	76,367,753	29,073,339	18,287,410	12,958,552	9,286,229	5,549,481	4,361,287	2,581,988	1,557,257	1,120,001	1,446,693	2,202,484	1,619,717
Number Of Employees	1,308	1,274	888	924	357	114	76	46	31	24	21	87	92	76
EBITDA*	105,936,767	28,347,214	33,305,092	30,619,961	13,430,227	5,759,832	6,992,536	6,496,674	7,048,812	6,173,279	6,512,467	5,944,089	3,008,560	2,871,735

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Tangible Assets	663,287,782	626,383,116	552,479,922	148,729,298	133,381,650	19,994,392	7,962,271	8,697,744	7,965,889	6,315,382	4,541,561	4,348,249	4,356,277	4,554,748
Intangible Assets	39,471,173	40,777,068	44,328,832	33,795,251	37,846,901	7,953,216	6,029,452	6,047,841	0	0	0	0	0	0
Investments & Other	1,550,092	1,718,282	1,953,049	0	0	112,152	201,818	0	0	0	0	0	0	0
Debtors (Due After 1 year)	77,752,890	75,580,981	59,565,792	1,544,775	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	625,006,064	591,579,202	537,242,961	180,979,774	171,228,551	27,947,608	14,193,541	14,745,585	7,965,890	6,315,382	4,541,561	4,348,249	4,356,277	4,554,748
Stock & work in progress	288,958,518	286,535,942	483,380,107	45,778,250	70,765,494	71,470,800	74,466,094	30,684,529	29,883,129	32,748,342	17,479,181	10,856,077	12,780,135	9,657,804
Trade Debtors	512,399,127	702,855,988	320,334,481	180,249,890	198,450,991	176,826,885	116,518,278	150,533,161	75,874,751	73,350,334	51,910,503	57,518,433	42,315,684	35,204,298
Group Debtors	4,092,342	0	0	0	0	0	0	0	0	0	29,378	0	0	0
Misc Debtors	122,063,556	43,307,997	10,944,312	5,863,256	7,797,539	14,180,886	8,662,367	18,160,014	1,763,185	647,437	1,525,005	1,898,152	1,205,905	1,084,665
Cash	101,912,347	126,636,209	30,846,350	17,061,409	14,908,720	9,955,940	4,308,167	15,579,536	5,807,230	6,840,901	7,077,655	5,284,975	10,997,956	8,049,259
misc current assets	144,663,217	48,560,686	0	0	731,803	984,539	532,524	1,371,159	3,472,358	4,431,498	1,715,877	831,318	1,357,379	0
total current assets	1,174,089,108	1,207,896,822	845,505,251	248,952,807	292,654,548	273,419,050	204,487,430	216,328,399	116,800,652	118,018,512	79,737,599	76,388,955	68,657,059	53,996,026
total assets	1,799,095,172	1,799,476,024	1,382,748,212	429,932,581	463,883,099	301,366,658	218,680,971	231,073,985	124,766,542	124,333,894	84,279,160	80,737,204	73,013,336	58,550,774
Bank overdraft	1	1,405,353	1,736,829	921,883	1,298,285	1,384,283	0	1	1	122,718	121,133	425,245	2,402,190	12,193,807
Bank loan	77,495,754	6,861,001	768,687	584,053	492,830	280,381	128,346	121,031	141,475	0	0	0	125,887	115,969
Trade Creditors	244,064,041	289,799,466	96,755,803	76,807,856	57,732,508	41,641,432	32,442,743	29,781,167	7,639,654	887,679	2,054,064	10,154,846	16,901,512	12,761,775
Group/Directors Accounts	0	0	0	0	0	1	42,812	0	0	0	29,378	0	0	0
other short term finances	257,020,295	120,468,181	0	2,296,643	398,809	4,603,060	0	0	160,400	0	0	0	0	0
hp & lease commitments	2,850,327	4,506,347	6,759,332	6,599,003	0	0	0	0	0	0	0	0	7,279	14,513
other current liabilities	723,483,462	796,990,374	594,675,666	168,281,546	238,081,170	222,698,868	164,560,627	179,984,872	92,990,554	105,748,076	67,198,466	58,657,476	45,094,712	26,104,436
total current liabilities	1,304,913,884	1,220,030,727	700,696,320	255,490,986	298,003,604	270,608,027	197,174,529	209,887,071	100,932,085	106,758,473	69,403,041	69,237,567	64,531,580	51,190,500
loans	36,801,164	219,901,349	281,551,494	221,528,651	204,321,866	7,704,878	756,532	987,825	1,301,838	1,161,534	1,275,186	1,575,813	1,682,260	1,796,256
hp & lease commitments	12,843,050	12,283,496	19,599,329	18,138,648	0	0	0	0	0	0	0	2,323	3,558	8,822
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	96,831,890	97,011,400	66,754,919	23,453,025	27,596,958	75,302	0	0	171,767	83,883	27,930	15,862	0	12,381
total long term liabilities	66,816,527	158,456,375	174,153,208	122,490,839	115,959,413	3,890,090	756,533	987,825	1,473,606	1,245,417	1,303,116	1,593,998	1,685,818	1,817,459
total liabilities	1,371,730,411	1,378,487,102	874,849,528	377,981,825	413,963,017	274,498,117	197,931,062	210,874,896	102,405,691	108,003,890	70,706,157	70,831,565	66,217,398	53,007,959
net assets	427,364,761	420,988,922	507,898,684	51,950,755	49,920,082	26,868,541	20,749,909	20,199,088	22,360,851	16,330,004	13,573,003	9,905,639	6,795,938	5,542,815
total shareholders funds	427,364,761	420,988,922	507,898,685	51,950,755	49,920,081	26,868,541	20,749,909	20,199,088	22,360,851	16,330,004	13,573,003	9,905,639	6,795,938	5,542,815

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Operating Activities
Operating Profit	67,936,444	-12,681,329	21,160,533	23,285,212	11,011,518	5,449,011	5,493,694	5,114,354	6,678,351	5,973,695	6,354,623	5,781,329	2,785,635	2,691,487
Depreciation	37,095,496	40,517,506	11,860,383	7,125,898	2,190,708	114,556	1,058,313	1,157,928	370,461	199,584	157,844	162,760	222,925	180,248
Amortisation	904,827	511,037	284,176	208,852	228,002	196,266	440,528	224,392	0	0	0	0	0	0
Tax	13,105,038	11,693,216	-5,212,250	-1,686,208	152,785	-685,733	-71,366	-853,237	-1,052,343	-1,133,731	-1,267,260	-1,255,921	-592,417	-671,037
Stock	2,422,576	-196,844,165	437,601,857	-24,987,244	-705,306	-2,995,294	43,781,564	801,401	-2,865,213	15,269,161	6,623,104	-1,924,058	3,122,331	9,657,804
Debtors	-105,437,050	430,900,381	203,186,663	-18,590,609	15,240,760	65,827,125	-43,512,530	91,055,239	3,640,165	20,532,885	-5,951,699	15,894,996	7,232,626	36,288,963
Creditors	-45,735,425	193,043,664	19,947,947	19,075,348	16,091,076	9,198,689	2,661,576	22,141,514	6,751,975	-1,166,385	-8,100,782	-6,746,666	4,139,737	12,761,775
Accruals and Deferred Income	-73,506,912	202,314,708	426,394,120	-69,799,624	15,382,302	58,138,241	-15,424,245	86,994,318	-12,757,522	38,549,610	8,540,990	13,562,764	18,990,276	26,104,436
Deferred Taxes & Provisions	-179,510	30,256,481	43,301,894	-4,143,933	27,521,656	75,302	0	-171,767	87,884	55,953	12,068	15,862	-12,381	12,381
Cash flow from operations	102,634,432	231,599,067	-123,051,717	17,643,398	58,042,593	9,654,501	-6,110,534	22,750,862	-696,146	6,676,680	5,026,078	-2,450,810	15,178,818	-4,867,477
Investing Activities
capital expenditure	-73,599,094	-111,379,973	-426,428,764	-18,630,748	-145,699,652	-14,266,708	3,149,100	8,889,195	5,743,329	-1,109,033	-92,773	371,329	-1,381,833	-64,516
Change in Investments	-168,190	-234,767	1,953,049	0	-112,152	-89,666	201,818	0	0	0	0	0	0	0
cash flow from investments	-73,430,904	-111,145,206	-428,381,813	-18,630,748	-145,587,500	-14,177,042	2,947,282	8,889,195	5,743,329	-1,109,033	-92,773	371,329	-1,381,833	-64,516
Financing Activities
Bank loans	70,634,753	6,092,314	184,634	91,223	212,449	152,035	7,315	-20,444	141,475	0	0	-125,887	9,918	115,969
Group/Directors Accounts	0	0	0	0	-1	-42,812	42,812	0	0	-29,378	29,378	0	0	0
Other Short Term Loans	136,552,114	120,468,181	-2,296,643	1,897,834	-4,204,251	4,603,060	0	-160,400	160,400	0	0	0	0	0
Long term loans	-183,100,185	-61,650,145	60,022,843	17,206,785	196,616,988	6,948,346	-231,293	-314,013	140,304	-113,652	-300,627	-106,447	-113,996	1,796,256
Hire Purchase and Lease Commitments	-1,096,466	-9,568,818	1,621,010	24,737,651	0	0	0	0	0	0	-2,323	-8,514	-12,498	23,335
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	-10,420,474	-27,347,218	15,944,400	-3,947,636	19,981,729	4,714,322	-2,143,573	-3,512,234	3,633,730	867,702	261,730	0	0	4,189,475
interest	-64,245,169	-56,909,518	-16,791,987	-15,293,126	-7,776,385	-2,827,045	-1,679,934	-1,595,847	-2,242,186	-1,200,665	-1,181,729	-1,165,707	-790,095	-417,112
cash flow from financing	-51,675,427	-28,915,204	58,684,257	24,692,731	204,830,529	13,547,906	-4,004,673	-5,602,938	1,833,723	-475,993	-1,193,571	-1,406,555	-906,671	5,707,923
cash and cash equivalents
cash	-24,723,862	95,789,859	13,784,941	2,152,689	4,952,780	5,647,773	-11,271,369	9,772,306	-1,033,671	-236,754	1,792,680	-5,712,981	2,948,697	8,049,259
overdraft	-1,405,352	-331,476	814,946	-376,402	-85,998	1,384,283	-1	0	-122,717	1,585	-304,112	-1,976,945	-9,791,617	12,193,807
change in cash	-23,318,510	96,121,335	12,969,995	2,529,091	5,038,778	4,263,490	-11,271,368	9,772,306	-910,954	-238,339	2,096,792	-3,736,036	12,740,314	-4,144,548

P&L

February 2023

turnover

8.5b

+6%

operating profit

67.9m

-636%

gross margin

2.9%

+68.41%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

February 2023

net assets

427.4m

+0.02%

total assets

1.8b

cash

101.9m

-0.2%

net assets

Total assets minus all liabilities

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company number

04112423

Type

Private limited with Share Capital

industry

46711 - Wholesale of petroleum and petroleum products

47300 - Retail sale of automotive fuel in specialised stores

incorporation date

November 2000

age

accounts

Group

ultimate parent company

PRAX GROUP HOLDINGS LIMITED

previous names

N/A

incorporated

address

harvest house, horizon business village, weybridge, surrey, KT13 0TJ

last accounts submitted

February 2023

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 19 charges/mortgages relating to state oil limited. Currently there are 3 open charges and 16 have been satisfied in the past.

state oil limited Company Information

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state oil limited Estimated Valuation

state oil limited Estimated Valuation

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