Key Quantitative Figures

Standalone Financial Results (Quarter Ended June 30, 2026):

  • Revenue from operations: ₹169.27 lakh (vs. ₹51.98 lakh in Q1 FY26)
  • Other income: ₹10.04 lakh
  • Total income: ₹179.31 lakh
  • Total expenses: ₹145.88 lakh
  • Profit before tax: ₹33.43 lakh (vs. loss of ₹35.42 lakh in Q1 FY26)
  • Tax expense: ₹3.99 lakh (deferred tax)
  • Net profit: ₹29.44 lakh (vs. loss of ₹26.50 lakh in Q1 FY26)
  • Basic and diluted EPS: ₹0.02
  • Paid-up equity share capital: ₹1,431.29 lakh (14,312,900 shares of ₹1 each)

Consolidated Financial Results (Quarter Ended June 30, 2026):

  • Revenue from operations: ₹169.27 lakh
  • Other income: ₹10.04 lakh
  • Total income: ₹179.31 lakh
  • Total expenses: ₹145.88 lakh
  • Profit before tax: ₹33.43 lakh
  • Net profit: ₹29.44 lakh (attributable to owners)
  • Basic and diluted EPS: ₹0.02

Director Re-appointments

Mr. Prem Singh Sawhney (DIN: 03231054):

  • Re-appointed as Executive Director for 3 years effective February 20, 2027 to February 19, 2030
  • B.Tech in Chemical Engineering from NIT Warangal, M.Tech from IIT Mumbai
  • 42 years experience in hydrocarbon exploration and production
  • Not related to any present directors, not debarred from directorship
  • Subject to shareholder approval at ensuing AGM

Mrs. Shaily Dedhia (DIN: 08853685):

  • Re-appointed as Independent Director for second term of 5 years effective June 27, 2027 to June 26, 2032
  • Qualified Company Secretary with Bachelor degree in Commerce & Law and Master degree in Commerce with management from Mumbai University
  • 17 years experience in legal, secretarial and ancillary matters
  • Not related to any present directors, not debarred from directorship
  • Subject to shareholder approval at ensuing AGM

Fundraising Proposal

  • Board approved raising up to ₹150 crore through Qualified Institutional Placement (QIP)
  • Issuance of equity shares of face value ₹1 each
  • May include discount or premium to market price as permitted under applicable law
  • To be done in one or more tranches
  • Subject to regulatory approvals and shareholder approval
  • Purpose: To enable company to raise funds when considered appropriate

Capital Structure Changes

  • On April 07, 2026, company allotted 96,67,258 partly paid-up equity shares at issue price of ₹144 per share (including premium of ₹143)
  • Aggregate amount: ₹13,920.85 lakhs
  • Amount received: ₹48.96 per share on application and ₹47.52 per share towards First Call for 88,97,316 shares
  • Balance amount including unpaid First Call money and Second and Final Call money is receivable
  • Paid-up equity share capital increased from ₹1,369.06 lakh to ₹1,431.29 lakh

Auditor Qualifications

  • Mahendra N. Shah & Co. issued limited review report
  • Draw attention to Note 4 regarding accounting treatment of expenditure on wells in NK block
  • Expenditure incurred on wells during testing phase capitalized as per Ind AS 106 and ICAI Guidance Note
  • Depletion will commence once reserves are established and approved as proved and developed
  • Sales during testing phase recognized as revenue in P&L

Subsidiary Information

  • Consolidated results include Deep Energy LLC, USA
  • Subsidiary reported nil revenue and nil net profit for the quarter
  • Financial statements of subsidiary are unaudited

Meeting Details

  • Board meeting held on July 30, 2026 from 4:00 PM to 5:30 PM
  • Audit Committee reviewed financial results prior to Board approval