Hindustan Oil Exploration Company Limited — PPTs, 12-06-2026: Investor Presentation

HOEC (Hindustan Oil Exploration Company) saw challenging FY26 financials with consolidated revenue at ₹301.3 Cr (-34.4% YoY), EBITDA at ₹124.5 Cr (-50% YoY), and PAT at ₹62.8 Cr (-57.4% YoY). This was largely impacted by a crude quality dispute with HPCL that held up ~₹260 Cr in sales revenue, deferring drilling investments. Additionally, Dirok's gas production was constrained due to pipeline unavailability.

Despite headwinds, HOEC is aggressively pursuing growth. Key strategies include ambitious production ramp-up targeting ~11K BOE/D net by 2027 (+7x from Jan 2026) and ~32K BOE/D net by 2029 (+21x). Recent developments include 100% ownership of the B-80 block, a successful 9-well campaign at Kharsang boosting oil output by 2x, and revised Field Development Plan approval for Dirok securing the block until 2035. PetroVietnam also supported drilling 2 new wells in PY-1.

The company's net 2P reserves stand at 62.3 MMBOE with an upside of 103+ MMaBOE (3P). Management is focused on resolving the HPCL dispute, strengthening operations, and advancing extensive multi-asset drilling and gas monetization programs across its portfolio. Long-term loans are being liquidated via internal cashflows, maintaining a low gearing ratio of 0.04.