Any current/future new fundraising through debt or equity?

Currently, the company does not anticipate any immediate need for fundraising. The capital program is planned to be met through internal accruals. If a need arises during ongoing programs, fundraising—either equity or debt—may be considered at that time. The company prefers equity fundraising over borrowing if required and will approach investors accordingly. In the immediate future, no fundraising is planned as operations are expected to be comfortably carried out with existing resources.

Any current/future capex/capital investment/strategic investment?

Planned capital outlay for the next three years is approximately ₹835 crores (Page 14). Work program includes: - 1 workover in Dirok this year and 2 more in FY 24-25. - 6 development wells and 1 deep well (3,000m) in Kharsang in FY 24-25. - 1 development well in PY-1 and 2 wells in North Balol, 2 wells in Asjol, 3 well interventions in Palej in FY 24-25. - 1 exploration well in B-19 in FY 24-25. - 2 wells in Dirok in FY 25-26. - 3 wells in B-80 in FY 26-27. Financing expected to be mainly through internal accruals; equity may be considered if needed (Pages 14 & 23). Plans to drill

Future growth expectations in sales/revenue/volumes?

Expectation to achieve full production from B-80 and Dirok fields, with plans to drill additional wells in Kharsang western region and PY-1 to tap full potential. Production from Dirok to ramp up to 50 million cubic feet per day (mmcfpd) by Q2 of next financial year, with further increase to 70 mmcfpd from FY25-26 after connectivity to National Grid and pipeline expansions. Incremental production from new fields (PY-1) expected to be sold at market/PPAC price, providing pricing flexibility. Plan to drill three additional producers in B-80 by FY26-27, with possible water injection to enha

Future growth expectations in earnings/operating earnings/profits/EPS?

HOEC plans significant drilling activity over the next three years, including 12 wells in FY24-25, 5 wells in FY25-26, and 3 wells in FY26-27, with a capital outlay of about ₹835 crores. Production ramp-up expected mainly from B-80, Dirok, Kharsang western region, and PY-1 blocks, reducing revenue dependence on B-80 and Dirok. Once new gas pipeline lines connect to the National Grid by FY24-25 and FY25-26, demand constraints are expected to ease, enabling production ramp-up to 50-70 mmcf per day, improving revenue. Activation of D1 well and workovers will aim to increase oil production t

Hindustan Oil Exploration Company LtdQ2 FY24Oil

Hindustan Oil Exploration Company Ltd Q2 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹153.2P/E: 80.5Market Cap: ₹2.0K CrSector: Oil

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Order

N/A

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Expectation to achieve full production from B-80 and Dirok fields, with plans to drill additional wells in Kharsang western region and PY-1 to tap full potential.
Production from Dirok to ramp up to 50 million cubic feet per day (mmcfpd) by Q2 of next financial year, with further increase to 70 mmcfpd from FY25-26 after connectivity to National Grid and pipeline expansions.
Incremental production from new fields (PY-1) expected to be sold at market/PPAC price, providing pricing flexibility.
Plan to drill three additional producers in B-80 by FY26-27, with possible water injection to enhance recoverable reserves.
Demand constraints expected to ease significantly with commissioning of pipelines connecting to the National Gas Grid by 2024-25 and 2025-26, facilitating higher offtake.
Revenue dependence to reduce on B-80 and Dirok with diversified field developments expected post-2026-27.

Margin guidance

Category 3

HOEC plans significant drilling activity over the next three years, including 12 wells in FY24-25, 5 wells in FY25-26, and 3 wells in FY26-27, with a capital outlay of about ₹835 crores.
Production ramp-up expected mainly from B-80, Dirok, Kharsang western region, and PY-1 blocks, reducing revenue dependence on B-80 and Dirok.
Once new gas pipeline lines connect to the National Grid by FY24-25 and FY25-26, demand constraints are expected to ease, enabling production ramp-up to 50-70 mmcf per day, improving revenue.
Activation of D1 well and workovers will aim to increase oil production towards initial expectations of ~5,000 bbl/day at B-80.
Financially, the company expects to fund growth primarily through internal accruals; equity raise considered only if necessary.
Management emphasizes sustained production, operational efficiency, and improved off-take to drive future earnings and EPS growth.

See what Hindustan Oil Exploration Company Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Currently, the company does not anticipate any immediate need for fundraising.
The capital program is planned to be met through internal accruals.
If a need arises during ongoing programs, fundraising—either equity or debt—may be considered at that time.
The company prefers equity fundraising over borrowing if required and will approach investors accordingly.
In the immediate future, no fundraising is planned as operations are expected to be comfortably carried out with existing resources.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for Hindustan Oil Exploration Company Limited. However, there is a brief mention related to a specific order: - Reference to a $1.36 million related order given by the Port of Malaysia (Page 16), but no further details on orderbook or pending orders are provided. - No other specific data on orderbook or pending orders is disclosed in the provided transcript. Thus, the available information does not provide specific insights about the company's current or expected order book or pending orders.

See what Hindustan Oil Exploration Company Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Planned capital outlay for the next three years is approximately ₹835 crores (Page 14).
Work program includes:
- 1 workover in Dirok this year and 2 more in FY 24-25.
- 6 development wells and 1 deep well (3,000m) in Kharsang in FY 24-25.
- 1 development well in PY-1 and 2 wells in North Balol, 2 wells in Asjol, 3 well interventions in Palej in FY 24-25.
- 1 exploration well in B-19 in FY 24-25.
- 2 wells in Dirok in FY 25-26.
- 3 wells in B-80 in FY 26-27.
Financing expected to be mainly through internal accruals; equity may be considered if needed (Pages 14 & 23).
Plans to drill wells in Kharsang western region and PY-1 to reduce revenue dependence on B-80 and Dirok (Page 26).
Additional compressor for low-pressure gas may cost less than $1 million; sourcing in progress but dependent on well activation results (Page 26).

Track Hindustan Oil Exploration Company Ltd — get its next earnings analysis in your feed

How does Hindustan Oil Exploration Company Ltd rank vs peers in Oil?

Pro feature

ThisHindustan Oil Exploration Company Ltd

Rev 3Mar 3

See where Hindustan Oil Exploration Company Ltd sits in OilSee which companies these are, and every other name in the sector.Open rankings

How does Hindustan Oil Exploration Company Ltd rank in Oil?

Compare Hindustan Oil Exploration Company Ltd against every Oil company (Q2 FY24) on revenue, margins and earnings-call signals.

View Oil leaderboard →

What Hindustan Oil Exploration Company Ltd's management said in earlier quarters

Others in Oil this season

Asian Energy Services Ltd (Q2 FY27)
Q2FY27 consolidated revenue: INR 266.7 crore, up 161% YoY (Q2FY26: INR 102 crore). Key investor presentation takeaways from Asian Energy Services Ltd's Q2 FY27
Aegis Vopak Terminals Ltd (Q3 FY26)
Revenue from operations for FY26 increased 18.3% YoY to INR549.1 crores, with liquid term revenue up 26.6% and gas up 8.4%. Key concall takeaways from Aegis…
Vedanta Oil and Gas Ltd (Q2 FY27)
Revenue for Q2FY27: ₹2,486 crore, up 7% YoY (Page 2, 24) . Key investor presentation takeaways from Vedanta Oil and Gas Ltd's Q2 FY27 investor presentation — an
Aegis Vopak Terminals Ltd (Q2 FY27)
Revenue from Operations (Consolidated):** ₹27,083.81 lakh for quarter ended 30.09.2026 vs ₹23,222.75 lakh for quarter ended 30.09.2025, showing a year-on-year…

Compare:vs Oil & Natural Gas Corpn Ltd vs Oil India Ltd vs Aegis Vopak Terminals Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Hindustan Oil Exploration Company Ltd Q2 FY24 Earnings Call Analysis

Revenue guidance

Fundraise plans

Capex plans

How does Hindustan Oil Exploration Company Ltd rank in Oil?

Continue your research

What Hindustan Oil Exploration Company Ltd's management said in earlier quarters

Others in Oil this season