Hindustan Oil Exploration Company Ltd
NSE:HINDOILEXP
Hindustan Oil Exploration Company Ltd
Hindustan Oil Exploration Co., Ltd. engages in the exploration, development, and production of oil and gas. The company is headquartered in Chennai, Tamil Nadu. The firm is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore. Its asset portfolio consists of approximately 10 oil and gas blocks of discovered resources and one exploratory block. Its projects include Dirok, PY-1, Cambay and B-80. The Dirok project produces approximately 35 million standard cubic feet per day (mmscfd) of natural gas and approximately 800 barrels of condensate. The PY-1 field is in the offshore part of the Cauvery Basin. Its three marginal fields at Cambay, such as Asjol, North Balol and CB-ON-7 together produce approximately 150 barrels of oil equivalent per day (boepd). The firm's subsidiaries include Hindage Oilfield Services Limited, Geopetrol International Inc., Geopetrol Mauritius Limited and GeoEnpro Petroleum Limited.
Hindustan Oil Exploration Co., Ltd. engages in the exploration, development, and production of oil and gas. The company is headquartered in Chennai, Tamil Nadu. The firm is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore. Its asset portfolio consists of approximately 10 oil and gas blocks of discovered resources and one exploratory block. Its projects include Dirok, PY-1, Cambay and B-80. The Dirok project produces approximately 35 million standard cubic feet per day (mmscfd) of natural gas and approximately 800 barrels of condensate. The PY-1 field is in the offshore part of the Cauvery Basin. Its three marginal fields at Cambay, such as Asjol, North Balol and CB-ON-7 together produce approximately 150 barrels of oil equivalent per day (boepd). The firm's subsidiaries include Hindage Oilfield Services Limited, Geopetrol International Inc., Geopetrol Mauritius Limited and GeoEnpro Petroleum Limited.
Revenue Surge: Stand-alone revenue for the quarter jumped to INR 77.32 crores from INR 21.5 crores in the previous quarter, driven by higher production and sales, especially from the BAT field.
EBITDA Growth: Stand-alone EBITDA rose to INR 33.89 crores from INR 28.8 crores QoQ, while consolidated EBITDA was INR 30.99 crores versus INR 25 crores previously.
Profit Dip: Stand-alone profit after tax dropped to INR 11.96 crores from INR 19.0 crores in the previous quarter, while consolidated PAT increased to INR 8.28 crores from INR 2.83 crores.
Operational Challenges: Production and sales at key fields like Dirok and BAT were impacted by limited demand, workover delays, monsoon disruptions, and a major receivable from HPCL (INR 259 crores plus interest) tied up due to a crude quality dispute.
Dirok Grid Connectivity: The critical pipeline connection for Dirok is expected to complete by March 2026; management anticipates a threefold production increase once the Northeast grid is operational, potentially as soon as Q1 FY27.
Field Updates: Drilling continues across Kharsang, Dirok, and Cambay with additional wells planned, aiming to ramp up oil and gas output as market conditions and infrastructure allow.
Leadership Change: The current Managing Director will step down once a new CEO is appointed, a process now underway.
Guidance: Management expects Dirok production to double or triple in FY27 if grid connectivity is achieved, with EBITDA margins targeted around 60% in coming years.
