HINDOILEXP
Hindustan Oil Exploration Company share price & financials
- Price
- ₹162.68
- Market cap
- ₹2.1k Cr
- Sector
- Oil, Gas & Consumable Fuels
- Calls analysed
- 7
Hindustan Oil Exploration Company Limited Q1 FY27
What went well
- Consolidated revenue from operations stood at INR 124 crores for Q1 FY27.
- Kharsang production increased significantly from approximately 12,300 BOE to 17,400 BOE, a 41% QoQ growth.
- Crude and condensate realizations improved to $95.5 per barrel, a 35% QoQ increase from $70.8 per barrel in the previous quarter.
What to watch
- B-80 production was impacted by a higher water cut, requiring workovers and rig interventions.
- The HPCL crude sale dispute resulted in an inventory loss of INR 4-6 crores on 15% of the crude sold.
What Hindustan Oil Exploration Company Limited does
Hindustan Oil Exploration Company (HOEC) is an independent exploration and production company that explores for, develops and produces crude oil and natural gas from operated and non-operated blocks onshore and offshore India. Its asset portfolio spans the Mumbai High offshore basin (blocks B-80 and B-15), the Assam-Arakan basin in North East India (Dirok, Kharsang, Block-19, Umatara), the Cambay basin in Gujarat (Asjol, North Balol, Palej) and the Cauvery basin off Tamil Nadu (PY-1, PY-3). Participating interests across these blocks range from 10% to 100% and are held under regimes including Pre-NELP, OALP and the Discovered Small Field (DSF) policy, with crude and gas sold to refiners and gas offtakers. Group subsidiaries also own supporting offshore infrastructure, including a floating storage vessel and a mobile offshore processing unit deployed at the B-80 field.
Segments
- Oil & Gas Exploration and Production
- Oil & gas blocks
- 11
- Basins of operation
- 4 (Mumbai High offshore, Assam-Arakan onshore, Cambay onshore, Cauvery offshore)
- Net 1P reserves (Apr 1, 2026)
- 40.58 MMBOE
- Net 2P reserves (Apr 1, 2026)
- 62.32 MMBOE
- Total gas initially in place (2P GIIP)
- 691 BCF
- Total oil initially in place (2P STOIIP)
- 556 MMSTB
Guidance record · Q1 FY27
what the last two calls moved 15 tracked 0 delivered 1 missed 14 open- FY26 Revenue missed said Q3 FY25 Promised: We will be reaching the revenue of 1000 crores. Q1 FY27: FY26 is complete. The target was missed.
- Northeast Gas Grid (DNPL) Connectivity delayed said Q3 FY25 Promised: DNPL line connection is also expected by end of 31st March [2025] Q1 FY27: Timeline pushed to December 2026. Hot tapping option avoids NRL shutdown.
- B-80 Production Volume on track said Q4 FY25 Promised: 11,000 BOEPD over the next 2, 3 years Q1 FY27: Workovers on track for Nov/Dec 2026 production. New wells still targeted for June 2027, aligning with the 4,000-5,000 bpd goal.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 45.2%, net profit down 85.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 95 | 147 | 43 | 79 | 315 +232% | 75 −49% | -206 −575% | 114 +45% |
| EBITDA | 32 | 74 | 5 | 32 | 23 −28% | 27 −63% | 27 +457% | 6 −83% |
| Net profit | 11 | 43 | 51 | 44 | 3 −74% | 8 −81% | 8 −85% | 6 −86% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +8.9% 1Y
1Y: ₹170.01 on 10 Sept 2025 → ₹185.22. High ₹195.83 (9 Sept 2026), low ₹118.33 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −2.7%
- 13 Aug
- Q4 FY26
- −1.3%
- 12 Jun
- Q3 FY26
- −0.1%
- 25 Feb
- Q2 FY26
- +4.0%
- 21 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 22.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 41.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹559 Cr | ₹749 Cr | ₹421 Cr | ₹263 Cr |
| Operating profit | ₹311 Cr | ₹303 Cr | ₹173 Cr | ₹109 Cr |
| Operating margin | 55.7% | 40.5% | 41.1% | 41.3% |
| Interest | ₹38 Cr | ₹31 Cr | ₹21 Cr | ₹17 Cr |
| Depreciation | ₹74 Cr | ₹80 Cr | ₹78 Cr | ₹75 Cr |
| Net profit | ₹194 Cr | ₹226 Cr | ₹147 Cr | ₹63 Cr |
| Net margin | 34.7% | 30.2% | 35.0% | 23.8% |
| Cash from operations | ₹219 Cr | ₹123 Cr | ₹161 Cr | ₹178 Cr |
| Free cash flow | ₹148 Cr | ₹104 Cr | ₹128 Cr | ₹3 Cr |
| ROCE | 20.0% | 18.0% | 12.0% | 3.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹132 Cr | ₹132 Cr | ₹132 Cr | ₹132 Cr | ₹132 Cr | ₹132 Cr |
| Reserves | ₹601 Cr | ₹621 Cr | ₹815 Cr | ₹1.0k Cr | ₹1.2k Cr | ₹1.3k Cr |
| Borrowings | ₹254 Cr | ₹357 Cr | ₹364 Cr | ₹174 Cr | ₹77 Cr | ₹50 Cr |
| Other liabilities | ₹198 Cr | ₹417 Cr | ₹539 Cr | ₹603 Cr | ₹642 Cr | ₹736 Cr |
| Total liabilities | ₹1.2k Cr | ₹1.5k Cr | ₹1.9k Cr | ₹2.0k Cr | ₹2.1k Cr | ₹2.2k Cr |
| Fixed assets | ₹335 Cr | ₹510 Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.5k Cr | ₹1.5k Cr |
| Capital work in progress | ₹535 Cr | ₹782 Cr | ₹32 Cr | ₹38 Cr | ₹60 Cr | ₹87 Cr |
| Investments | ₹65 Cr | ₹19 Cr | ₹133 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹251 Cr | ₹216 Cr | ₹439 Cr | ₹666 Cr | ₹547 Cr | ₹632 Cr |
| Total assets | ₹1.2k Cr | ₹1.5k Cr | ₹1.9k Cr | ₹2.0k Cr | ₹2.1k Cr | ₹2.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +0.43 pp while DIIs trimmed −0.35 pp. The shareholder count shrank 5% to 90,352.
- FIIs
- 1.9%
- DIIs
- 0.1%
- Public
- 98.0%
Since Jun 2025
- FIIs +0.43 pp
- DIIs −0.35 pp
- Public −0.07 pp
How it drifted, 12 quarters
Over this window DIIs fell from 4.0% to 0.1% — −3.9 pp.
Ownership split by quarter, oldest first. Sep '23: FIIs 1.0%, DIIs 4.0%, Public 95.0%.Dec '23: FIIs 1.3%, DIIs 0.6%, Public 98.1%.Mar '24: FIIs 1.3%, DIIs 0.7%, Public 98.0%.Jun '24: FIIs 1.8%, DIIs 0.5%, Public 97.7%.Sep '24: FIIs 1.6%, DIIs 0.3%, Public 98.1%.Dec '24: FIIs 1.4%, DIIs 0.3%, Public 98.3%.Mar '25: FIIs 1.8%, DIIs 0.3%, Public 97.9%.Jun '25: FIIs 1.4%, DIIs 0.5%, Public 98.1%.Sep '25: FIIs 1.7%, DIIs 0.5%, Public 97.8%.Dec '25: FIIs 1.4%, DIIs 0.1%, Public 98.5%.Mar '26: FIIs 1.5%, DIIs 0.1%, Public 98.4%.Jun '26: FIIs 1.9%, DIIs 0.1%, Public 98.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Hindustan Oil Exploration Company Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ashok Kumar Goel (In capacity of Trustee - Ashok Goel Trust) | 13.96% | unchanged |
| Lci Estates LLP | 6.13% | unchanged |
| Dhoot Industrial Finance Ltd | 4.69% | unchanged |
| Poddar Pigments Limited | 3.78% | unchanged |
| Vijai Shree Private Limited | 3.49% | unchanged |
| Ramasamy Jeevanandam | 3.17% | unchanged |
| Rohit Rajgopal Dhoot (In capacity of Trustee - Dhoot Rohit Kumar Family Trust I) | 2.29% | unchanged |
| Sapna Pennam | 1.42% | unchanged |
| Gks Holdings Private Limited | 1.26% | unchanged |
| Leather Crafts India Private Limited | 1.18% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Hindustan Oil Exploration Company Limited
Guides on how to read this kind of business and the numbers that matter.