Jindal Drilling And Industries Limited — Investor Meet, 02-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Q3 FY26 operational performance was stable. The bottom line was significantly impacted by a one-time reversal of an INR100 Cr litigation gain, now sub-judice in the Supreme Court. This is a non-operational accounting adjustment. Management expects ONGC tenders for new rigs, including one for Jindal Pioneer. Three rigs will require refurbishment (INR50-100 Cr each) as contracts end in FY27. Higher rig rates are anticipated due to improving global demand and limited specialized competition in India. The company remains debt-free and is conserving cash for upcoming rig refurbishments and $35 million vendor dues. While open to international contracts, preference is for longer Indian agreements. Management is confident in sustaining operational momentum.