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Revenue
₹315.01 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹25.15 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
HOEC's Q2 FY26 consolidated revenue stood at ₹325.31 crore, driven by crude oil sales from the BAT field, but EBITDA fell to ₹25.15 crore and PAT to ₹2.83 crore due to lower gas offtake in the DRO field and monsoon-related production disruptions in BAT. The company is actively drilling in the Kasang block (7 wells completed, 5 producing) and expects the northeast gas grid to be operational by Q4 FY26, which could triple DRO volumes. A ₹250 crore term loan has been secured for capex. Key risks include the unresolved HPCL payment dispute (₹29 crore) and potential delays in grid connectivity.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects the DNPL-IGGL linkage to be completed by end of Q3 FY26, with offtake improvement from Q4 FY26 and full operation by Q1 FY27.
- Management targets net production of at least 6,000 barrels of oil equivalent per day by FY27, driven by drilling and grid connectivity.
- Company secured a ₹250 crore term loan exclusively for capital expenditure, primarily for offshore drilling.
- Plans to drill 18 shallow wells and 3 deep wells in Kasang block, with 7 wells already drilled in the initial phase.
Risks flagged
- HPCL has not paid ₹29 crore for crude oil sold, citing contamination; management denies liability but resolution timeline is uncertain.
- The DNPL-IGGL linkage has been delayed multiple times; any further delay would constrain DRO offtake and revenue growth.
- Gas blowout at the sixth well caused a temporary halt; though insured, it may delay production ramp-up.
- Monsoon-related shutdowns reduced BAT production significantly; similar disruptions could recur annually.
Key quotes
- We have reached a production level of about 900 barrels per day from this block up from 350 barrels of initial production.
- It is a blessing in disguise. Now we proved there is a substantial volume of gas available in for monetization.
- We are not liable for any cost claim under the KOSA executed with HPCL.
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