• Type of Event: Q1 FY26-27 Earnings Conference Call and Investor/Analyst interaction.
  • Date and Time: The call was held on August 10, 2026. A specific start time was not mentioned in the transcript.
  • Purpose: To discuss the financial and operational results for the quarter ended June 30, 2026 (Q1 FY27).
  • Management Participants: The call was attended by Mr. Abhijit Majumder (Director Finance), Mr. Saloma Yomdo (Director Exploration and Development), Mr. Trailukya Borgohain (Director Operations), Mr. Bhaskar Jyoti Phukan (Managing Director, Numaligarh Refinery Limited), Mr. Ajaya Kumar Sahoo (Executive Director & Company Secretary), Mr. Raghunath Mishra (ED Business Development), and Mr. Abhijit Das (CGM Finance & Accounts and CIRO).
  • Availability of Materials: The transcript of the call was uploaded to the company's website on August 12, 2026, at the following URL: https://www.oil-india.com/files/investorservicesdocuments/Transcript_0.pdf.
  • Financial Period Discussed: The discussion focused on Q1 FY27 (April 2026 to June 2026) results, which were approved by the board and published on August 7, 2026.
  • Forward-Looking Statements: Management provided strategic and operational guidance, including:
  • Oil Production: Target to achieve 1 MMT of crude production per quarter, aiming for ~4 MMT for FY27 and ~4.2 MMT for FY29 from existing fields.
  • Gas Production & Evacuation: Current gas offtake is constrained by downstream demand and infrastructure. Key updates on evacuation projects:
  • A 200-meter pipeline connection inside NRL premises will be completed in 2-3 months, enabling DNPL to act as a common carrier and evacuate an additional ~1.5 MMSCMD to the national grid.
  • The Duliajan Feeder Line (DFL) project by IGGL is ~20% complete and is crucial for long-term evacuation. Full gas evacuation potential (~5 BCM) is expected by Q1 FY28/Q1 FY29.
  • NRL expansion will consume an additional 1.5 MMSCMD of gas starting Q2/Q3 FY28.
  • Exploration & Capex:
  • FY27 Drilling Target: 100 wells (42 exploratory, 57 development). Q1 FY27 capex stood at INR 3,050 crores.
  • Andaman Basin: Testing of Vijayapuram-1 well with hydro-frac is underway. A fourth exploratory well is planned for December 2026. Appraisal drilling campaign planned after 3D seismic interpretation is complete by January 2027.
  • Deepwater Campaign: Two rigs are tendered for drilling in the Mahanadi and KG basins, with the first rig expected in June-July 2027. The government's 'Samudra Manthan' policy will provide reimbursement for these activities.
  • NRL Expansion: Mechanical completion of the CDU-VDU unit is done; statutory inspections are pending. The DHDT and SRU units are targeted for commissioning by October-November 2026. The entire project is targeted for commissioning by March 31, 2027, with a graded ramp-up to 75% capacity (of 9 MMTPA) by Q4 FY28. The total project cost is estimated at INR 34,000-35,000 crores for the refinery and INR 7,200-7,300 crores for the pipeline.
  • Financial Highlights (Q1 FY27):
  • Standalone (Oil India):
  • Crude oil production: 0.95 MMT (+11% YoY)
  • Natural gas production: +0.4% QoQ
  • Crude oil price realization: USD 98.73/bbl (vs. USD 66.20/bbl YoY)
  • Gas price realization: USD 7.19/MMBtu (vs. USD 6.72/MMBtu in Q4 FY26)
  • Operating Revenue: INR 7,958 cr (Highest ever quarterly revenue)
  • EBITDA: INR 4,605 cr (Margin: 54%+)
  • PBT: INR 3,742 cr (Highest ever)
  • PAT: INR 2,870 cr (vs. INR 813 cr YoY)
  • EPS: INR 17.65
  • NRL (Material Subsidiary):
  • Operating Income: INR 9,146 cr (+45% YoY)
  • Capacity Utilization: 105%
  • Distillate Yield: 87%
  • Gross Refinery Margin (GRM): USD 35.95/bbl (vs. USD 5.02/bbl YoY). This includes ~USD 2/bbl inventory gain. The normalized GRM was ~USD 33/bbl, net of discounts given to OMCs.
  • EBITDA: INR 1,843 cr (vs. INR 786 cr YoY)
  • PAT: INR 1,305 cr (vs. INR 488 cr YoY)
  • Consolidated:
  • Operating Revenue: INR 12,886 cr
  • PAT: INR 4,026 cr (Highest ever)
  • Regulatory & Legal Updates:
  • GST on Royalty: The company has a liability of ~INR 2,500 crores (without interest) which it will settle within six weeks as per a court undertaking. This amount was already provided for in previous quarters.
  • Assam Land Tax: The Government of Assam has undertaken to repeal the relevant act in the state legislature. The related contingent liability on the company's books will be removed once the act is formally repealed.
  • Compliance: The conference call was conducted pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. The transcript was filed with the exchanges as a follow-up to earlier intimations dated August 4 and August 10, 2026.

Additional Notes Section

  • The document is an official filing containing the transcript of the earnings conference call.
  • No separate presentation deck or financial data was attached to this specific filing; all figures were discussed during the call and are detailed in the transcript.
  • The summary includes all material financial and operational details disclosed during the call.