SWPE wins Rs 166.82 Cr CBM contract extension from Reliance Industries

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AI summary

South West Pinnacle Exploration (SWPE) has received an extension of its CBM (Coal Bed Methane) production drilling contract from Reliance Industries, valued over Rs. 166.82 Crore. The contract covers multi-lateral hole drilling in Madhya Pradesh for about 15 months, with an option for a further 6-month extension. Revenue will start from Q2 FY 2026-27. With this win, SWPE order book has crossed Rs. 760 Crore, giving 2-3 years of revenue visibility. SWPE has earlier done two similar RIL projects. No extra assets needed.

Likely market impact

Major order boosts order book past Rs 760 Crore, strengthening revenue visibility and likely positive for the stock