Q1 2026 Oil India Ltd Earnings Call Transcript
Key Points
- Oil India Ltd (BOM:533106) reported a quarter-to-quarter increase in crude oil production by 1.07% and natural gas production by 2.61%.
- The company discovered a new hydrocarbon reserve in the Namrup Borhat Oil block in Upper Assam and commenced natural gas production from small fields in Rajasthan.
- Numaligarh Refinery Limited, a material subsidiary, operated at 106% capacity, contributing significantly to the consolidated performance.
- The company has set ambitious production targets for FY26 and FY27, aiming for 3.70 MMT of oil and 3.65 BCM of gas in FY26, with further increases planned for FY27.
- Oil India Ltd (BOM:533106) has earmarked INR25,000 crore for achieving net-zero targets by 2040, with investments in solar, wind energy, and compressed biogas projects.
- The average crude oil realization dropped sharply by 22% year-over-year, impacting the company's revenue and profitability.
- Standalone revenue decreased to INR5,012 crore from INR5,839 crore in the previous year, with a corresponding decline in PAT to INR813 crore from INR1,467 crore.
- The company faced operational challenges due to shutdowns and maintenance activities by customers, affecting gas production.
- Provisions of INR307 crore and INR207 crore were made for non-performing overseas joint ventures, impacting financial results.
- The EBITDA margin decreased from 43% to 34% due to lower revenue and increased operating expenses.
Ladies and gentlemen. Good day and welcome to the Oil India Limited Q1 FY26 earnings conference call hosted by Antique Stock Broking Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the confidence over to Mr. Varatharajan from Antique Stock Broking. Thank you and over to you, sir.
Thank you, Manu. A very good morning to everyone. I'd look to extend a very warm welcome to all the participants as well as the management of Oil India Limited. We are with us, the senior management of Oil India, represented by Mr. Abhijit Majumder, Director of Finance; Mr. Saloma Yomdo, Director, Exploration Development; Mr. Trailukya Borgohain, Director of Operations; Mr. Bhaskar Jyoti Phukan, MD, NRL; Mr. Ranjan Goswami, ED Business Development; Mr. Anup Kumar, ED; Mr. Ajay Kumar Sahoo, ED, Company Secretary; Mr. Abhijit Das, CGM, F&A.
I hand over the call to Mr. Abhijit Majumder for the opening remarks and then we can move on to the Q&A. The floor is here
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