Jindal Drilling & Industries Ltd
Jindal Drilling & Industries Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Future growth in sales and revenue is largely dependent on increased expenditure in the Indian oil and gas sector, as Jindal Drilling is a service provider dependent on sector activity. Future growth depends heavily on increased expenditure in the oil and gas sector in India, as the company is a service provider to this industry (Page 13).
From Jindal Drilling & Industries Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Future growth in sales and revenue is largely dependent on increased expenditure in the Indian oil and gas sector, as Jindal Drilling is a service provider dependent on sector activity.
- Management expects order book visibility only as rigs get dehired and new tenders are floated by ONGC; the company will participate in all tenders to build the order book beyond FY '27.
- The next few quarters are expected to be as good as previous ones, excluding impact from one-time other income.
- ONGC is currently issuing fewer tenders than expected, a trend likely to continue for another year, which may affect volume growth.
- The company is also exploring opportunities in directional drilling and other related segments to diversify revenue streams.
- International market opportunities are being evaluated, though no concrete announcements have been made.
- The company's growth visibility remains tied to ONGC’s finalization of exploration with BP and future oil and gas investments.
Profitability & Margins
See what Jindal Drilling & Industries Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- The company is currently undertaking refurbishment of rigs, including Jindal Pioneer (expected to complete refurbishment by Q4 FY '26) and others like Discovery-I, Virtue-I, and Jindal Star.
- Refurbishment costs for three rigs expected around INR 240-250 crores, amortized over contract duration.
- No current plans for acquiring new rigs in FY '27 or FY '28.
- The company is looking at opportunities within drilling segments such as directional drilling (recent tender won).
- Exploring a few other drilling-related sectors but nothing concrete announced yet.
- Strong cash position is being conserved to fund refurbishments and strategic needs; no borrowing planned currently.
- Management will evaluate any international bids or opportunities where operational costs and prices justify investments.
Top-ranked in Oil
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Jindal Drilling & Industries Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The company currently has a strong order book secured till FY '27, primarily from contracts with ONGC.
- As of November 2025, 5 rigs (Discovery, Supreme, Virtue, Jindal Star, and Jindal Explorer) are operating with ONGC; Jindal Explorer recently secured a contract starting November 2025.
- Jindal Pioneer rig is under refurbishment and the company plans to bid in an ONGC tender (due early December 2025) for its deployment.
- Future order book additions depend on new tenders floated by ONGC as rigs complete existing contracts; the company intends to participate in all these.
- There is uncertainty regarding international orders; currently, bidding is focused on domestic ONGC contracts.
- Management expresses cautious optimism about maintaining or growing the order book but awaits clarity on ONGC’s future expenditure and tender outcomes.
Jindal Drilling & Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹263 Cr, net profit ₹45 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Jindal Drilling & Industries Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Jindal Drilling & Industries Ltd Q2 FY26 results?
Future growth in sales and revenue is largely dependent on increased expenditure in the Indian oil and gas sector, as Jindal Drilling is a service provider dependent on sector activity. Future growth depends heavily on increased expenditure in the oil and gas sector in India, as the company is a service provider to this industry (Page 13).
What is Jindal Drilling & Industries Ltd share price analysis?
Jindal Drilling & Industries Ltd currently shows a neutral. The stock trades at a P/E of 8.8 with a market cap of ₹1,704 Cr. Investors should review the full earnings analysis for detailed insights.
Is Jindal Drilling & Industries Ltd planning capital expenditure?
The company is currently undertaking refurbishment of rigs, including Jindal Pioneer (expected to complete refurbishment by Q4 FY '26) and others like Discovery-I, Virtue-I, and Jindal Star.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.