Jindal Drilling And Industries
Other · 1 quarter tracked · source-linked performance and management context.
Latest revenue
₹242 Cr
verified financial record
Quarters tracked
1
source records in the directory
Delivery assessment
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No scored management commitments are present yet.
Call date
2026-02-10
latest available source date
Signal trajectory
1 actual quarterCurrent read
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No scored management commitments are present yet.
Latest source read
What changed this quarter?
Jindal Drilling's Q3 FY26 operational performance was broadly in line with expectations, but reported PAT was significantly impacted by a reversal of other income related to an ONGC litigation. The company had previously booked a ~₹100 crore gain (on a ₹66 crore receivable) after a favorable Bombay High Court ruling, but the Supreme Court appeal has made the matter sub-judice, forcing a reversal. Management stressed no change in underlying operations. EBITDA guidance for FY26 is ~₹350 crore, with similar levels expected next year. Three rigs are due for de-hiring in FY27, requiring refurbishment capex of ₹50-100 crore per rig. The company is conserving cash for these expenses and vendor dues (~$35 million for Jindal Pioneer). ONGC is expected to issue tenders for four rigs soon, and management sees potential for gradual rate increases given reduced international competition. Key risks include litigation uncertainty and potential rate compression during re-hiring.
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Revenue
₹242 Cr
Source date
2026-02-10
Across the record
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