Oil India · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Court has given 6 weeks to settle the GST on royalty (from July 2017) without interest. Management confirmed this will be disclosed in Q2 results but won't impact P&L as provisions were already made.
Well testing using hydrofrac technology ongoing in August 2026. Results expected by September. Previous write-downs on VP-2 were taken; VP-1 and VP-3 remain on books pending testing outcomes.
Current gas production constrained by downstream infrastructure. BCPL taking only 1.25-1.35 MMSCMD. Major pipeline infrastructure (Paradip-Malaya, IGL) expected by Dec 2027 before significant ramp-up.
Current $35.95/bbl GRM includes $2/bbl inventory gain and reflects unusually wide diesel-crude spreads. Normalized GRM of ~$33/bbl vs historical ~$7-8/bbl is not sustainable.
