Q2 2026 Hindustan Oil Exploration Company Ltd Earnings Call Transcript
Key Points
- Hindustan Oil Exploration Co Ltd (BOM:500186) has successfully drilled seven wells in the Kharsang block, with five already in production, increasing production from 350 to 900 barrels per day.
- The company has secured environmental clearance for further drilling in the Kharsang block, indicating potential for increased production.
- The revised development plan for the Dirok field has been approved, allowing for an extension of the block and future drilling plans.
- Hindustan Oil Exploration Co Ltd (BOM:500186) reported a significant increase in standalone revenue to INR321.51 crores, primarily due to crude oil sales from the B-80 field.
- The company has secured a debt capital of INR250 crores to support its capital expenditure plans, ensuring financial backing for ongoing and future projects.
- Production in the B-80 block was temporarily impacted by monsoon-related disruptions, leading to a decrease in revenue for the quarter.
- There is an ongoing issue with HPCL regarding a contamination claim, which has delayed the realization of sales revenue from crude oil.
- The company's EBITDA decreased to INR25 crores in the consolidated accounts, down from INR35 crores in the previous quarter, due to lower offtake in Dirok and monsoon disruptions.
- The Northeast gas grid, crucial for commercializing gas from the Kharsang block, is still not fully operational, potentially delaying increased demand and sales.
- Consolidated profit after tax for the current quarter is significantly lower at INR2.83 crores compared to INR11.35 crores in the previous quarter, indicating financial pressure.
Ladies and gentlemen, good day, and welcome to the Hindustan Oil Exploration Company Limited Q2 FY26 earnings conference call. (Operator Instructions)
I now hand the conference over to Mr. Cyril Paul from Ernst & Young. Thank you, and over to you, Mr. Paul.
Thank you. Good day, everyone, and welcome to the Q2 earnings call of Hindustan Oil Exploration Company Limited. The company published its results on November 14 and has uploaded the investor presentation on the exchanges yesterday. I trust all of you have had the opportunity to review them.
Before we start, a disclaimer. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are made on management's beliefs and assumptions made by information currently available to the management. Audiences are cautioned not to place undue reliance on these
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