Annual report for the financial year 2024-25
Awaiting price reaction for this filing.
Aban Offshore has submitted its annual report for FY 2024-25 along with the notice convening its 39th Annual General Meeting on 24 September 2025 at 10:15 a.m., to be held via video conferencing. Consolidated revenue grew about 19% year-on-year to ₹4,756.55 million, while EBITDA more than doubled to ₹1,774.94 million with margins expanding to 37.32% from 19.36%. Despite the operational improvement, the company reported a net loss of ₹15,300.77 million (slightly narrower than the ₹15,751.48 million loss in FY24), weighed down by steep finance costs of ₹11,103.30 million. The company deployed three rigs on contract with ONGC under three-year deals while one rig remained idle. AGM items include adoption of financial statements, reappointment of Mr. C.P. Gopalkrishnan, continuation of Chairman P. Venkateswaran beyond age 75 via special resolution, and appointment of a new secretarial auditor for five years.
This is largely a routine annual report filing, but the fifth straight year of losses and very high finance costs underline ongoing debt and turnaround concerns for shareholders. Any positive near-term impact on the stock is more likely to come from progress on bank-led debt restructuring than from the AGM agenda itself.