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Exploration & Production company Hindustan Oil Exploration Company announced Q4FY26 & FY26 results Consolidated Financial Highlights: The company reported a negative Revenue from operations of Rs (19,057.09) lakh for Q4FY26, compared to a revenue of Rs 8,104.49 lakh in Q3FY26 and Rs 5,958.30 lakh in Q4FY25. This significant decline was primarily due to a revenue reversal of Rs 25,878.15 lakh related to a contract cancellation. Total Income for Q4FY26 stood at Rs (19,918.34) lakh, showing a sharp decrease of 351.98% QoQ from Rs 7,910.64 lakh in Q3FY26 and a decrease of 298.25% YoY from Rs 10,047.20 lakh in Q4FY25. Profit before tax for Q4FY26 was Rs 900.67 lakh, representing an increase of 31.33% QoQ from Rs 685.83 lakh in Q3FY26, but a decrease of 74.68% YoY compared to Rs 3,557.68 lakh in Q4FY25. Net Profit (Profit for the period) for Q4FY26 was Rs 776.82 lakh, down 6.13% QoQ from Rs 827.56 lakh in Q3FY26 and down 84.82% YoY from Rs 5,115.93 lakh in Q4FY25. For FY26, the company recorded a Revenue from operations of Rs 30,128.79 lakh, a decrease of 34.38% compared to Rs 45,912.09 lakh in FY25. Annual Net Profit for FY26 stood at Rs 6,274.53 lakh, marking a decrease of 57.38% compared to Rs 14,720.77 lakh in the previous year FY25. The Basic and Diluted Earnings Per Share (EPS) for FY26 was Rs 4.74, compared to Rs 11.13 in FY25. Standalone Financial Highlights: Revenue from operations for Q4FY26 was Rs (19,428.49) lakh, compared to Rs 7,732.32 lakh in Q3FY26 and Rs 14,260.97 lakh in Q4FY25. Total Income for the quarter was Rs (20,331.19) lakh, a decrease from Rs 7,785.96 lakh in Q3FY26 and Rs 17,901.90 lakh in Q4FY25. Net Profit for Q4FY26 stood at Rs 3,040.03 lakh, showing a growth of 154.18% QoQ from Rs 1,195.99 lakh in Q3FY26, but a decrease of 76.62% YoY from Rs 13,000.81 lakh in Q4FY25. For FY26, standalone Revenue from operations reached Rs 28,802.59 lakh, a decrease of 16.24% from Rs 34,388.40 lakh in FY25. Annual Standalone Net Profit for FY26 was Rs 10,961.06 lakh, compared to Rs 14,747.29 lakh in FY25, representing a decrease of 25.67%. Business Highlights: Segment Performance: The company operates as a single business segment, namely exploration, development, and production of crude oil and natural gas in India, both onshore and offshore. Contract Cancellation (HPCL): During the quarter ended September 30, 2025, the company entered into a Crude Off take and Sale Agreement ("COSA") with HPCL. Revenue of Rs 25,878.15 lakh originally recognized was reversed in the current results following a mutual agreement to cancel the arrangement due to quality-related issues. New buyers have been identified, and the inventory has been recognized at an estimated net realizable value of Rs 27,262.85 lakh as of March 31, 2026. Block B-80 Acquisition: During FY26, the company fully accounted for the 40% Participating Interest ("PI") of the other joint operator in Block B-80, following an application for assignment. Revenue and costs of Rs 5,499.89 lakh and Rs 5,271.44 lakh respectively were accounted for effective April 1, 2024. Kharsang Block Transfer: The transfer of a 25% participating interest in the Kharsang Block from Geopetrol International Inc. was approved by the DGH on March 13, 2025, and has been accounted for using the pooling of interests method. Labour Codes Impact: The company has recorded an incremental impact on Employee benefits expense amounting to Rs 128.49 lakh for the year ended March 31, 2026, due to the notification of the new Labour Codes. Result PDF

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