| Margins | Focus on reducing OPEX via gas-run generators instead of diesel. |
|---|---|
| Demand visibility | Constrained by infrastructure; Dirok producing at 1/3rd potential. |
| Management confidence | High regarding resolution of HPCL dispute and alternative sales. |
Growth
B80 production declined from 377 barrels (Q4FY26) to 270 barrels (Q1FY27). Dirok gas production increased from 13.43 Mmscf to 15.424 Mmscf.
Outlook
Estimated FY27 capex of USD 45 million for B80 drilling; target gas production revival in Cauvery by mid-October 2026.
Risks
Crude sales dispute with HPCL held up ~INR 260 crore; production constrained by lack of gas evacuation infrastructure.
Last quarter's promises, checked
Delivered
- Targeted Kharsang production doubling → delivered 2x ramp-up (= BEAT)
- Guided lifting cost ~$28.6/barrel → delivered $28.4/barrel (= BEAT)
Partly delivered
- Guided HPCL crude sale resolution in 2-3 months → Invoice reversed, alternate sales started but proceeds staggered (= PARTIAL)
Missed
- Guided B-80 production 4,000-5,000 barrels → delivered 270-377 barrels (= MISS)
- Targeted Dirok gas 45 Mmscf/d → delivered 15.42 Mmscf/d (= MISS)
Investor Presentation filed with BSE, NSE: HINDOILEXP. Summary written with AI assistance from the document.
Hindustan Oil Exploration Company Ltd: key numbers
- Share price
- ₹173.38
- Market cap
- ₹2,293 Cr
- Revenue (annual)
- ₹263.1 Cr
- Net profit (annual)
- ₹62.75 Cr
- P/E (TTM)
- 91.3×Sector 18.7×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 1.88%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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Management is navigating complex operational delays in Assam and debt-dependent growth plans for B-80 while attempting to preserve cordial relations with HPCL despite a major inventory dispute.