Hindustan Oil Exploration Company Limited has informed the Exchange about Transcript
HINDOILEXP · price
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Hindustan Oil Exploration Company (HOEC) held its Q4 FY25 earnings call covering operational and financial updates. Key highlights include: acquisition of 100% interest in offshore B-80 block (bought remaining 40% from AEPL for ~INR 315-320 crores); signing of Revenue Sharing Contract for B-15 block in Mumbai offshore on April 15, 2025; and start of drilling at Kharsang block (first well producing 200 barrels/day). Standalone FY25 revenue was INR 343.88 crores vs INR 569.64 crores last year, while consolidated EBITDA fell 24% to INR 249 crores due to low Dirok offtake and weaker B-80 production. The company is net debt-free with India Ratings reaffirming IND A and revising outlook to Positive. Capex of INR 250 crores is planned for the North-East region over the next 2 years.
Mixed signals for shareholders: Standalone profitability improved sharply, but consolidated earnings declined. The B-80 full ownership and B-15 entry strengthen the long-term production base, with management targeting 11,000 BOEPD from Mumbai offshore in 2-3 years. However, near-term volumes are constrained by Dirok demand issues and management's refusal to give production or revenue guidance may limit near-term visibility.