Company Overview

South West Pinnacle Exploration Limited (Scrip Code: 543986) presented its updated Investor Presentation for Q2/H1 of FY 2026-27 dated November 08, 2026. The company is an ISO 9001:2015 certified integrated exploration service provider established in 2006, offering end-to-end drilling and exploration solutions across coal, ferrous, non-ferrous, atomic minerals, and conventional & unconventional oil and gas sectors.

Operational Highlights

  • Operates a fleet of 47 advanced drill rigs with capabilities up to 2,500 meters
  • Supported by 42 geoscientists and specialized logging/geophysical survey equipment
  • Successfully completed 166+ projects over 20 years, currently working on 20 active projects across India
  • Drilled over 3.2 million meters without a single Lost Time Injury (LTI) since inception
  • Marquee clients include Reliance, Vedanta, Oil India, CMPDI, CGWB, ONGC, Hindustan Copper Ltd, and Hindalco
  • Robust order book of INR 7,671 Mn across segments: Survey and Exploration of Mineral (INR 4,554 Mn), CBM Production (INR 2,221 Mn), Aquifer Mapping (INR 595 Mn), Seismic & Coal Drilling (INR 238 Mn), Geophysical Survey (INR 64 Mn)

Business Segments

CBM Exploration Services

  • Specializes in identifying and evaluating CBM potential in coal-rich regions
  • Completed over 200 CBM core wells (highest in India)
  • Trusted by Reliance Industries, Oil India, Dart Energy

CBM Production Services

  • 60+ CBM production wells drilled at depths up to 1,200 meters
  • CBM Production drilling contract renewed with two imported CBM rigs deployed

Coal & Other Minerals Exploration Services

  • Expertise in core drilling, large diameter core drilling (8 inches), reverse circulation, down-the-hole, and mud rotary drilling
  • Completed approximately 33 lakh meters of drilling
  • Operations across India and international presence via copper/gold JV in Oman

2D/3D Seismic Exploration

  • Proven capability in 2D/3D Land Seismic Exploration for coal, oil & gas
  • Equipped with Passive Seismic Tomography (PST) technology
  • End-to-end solutions including data acquisition, processing, interpretation, and reporting

Geological & Geophysical Services

  • Team of 15 experienced geoscientists
  • Expertise in coal, limestone, atomic minerals with end-to-end on-site exploration services

Aquifer Mapping

  • Delivered aquifer studies for state & national water resource departments
  • Proven capability to quantify groundwater potential across diverse terrains
  • Secured Aquifer Mapping contracts worth over INR 1,000 Mn from CGWB

Underground Drilling

  • New domain entry with order secured from Hindustan Copper Ltd
  • Commissioned 4 advanced rigs, now operational

International Operations in Oman

First Joint Venture (35% stake in Alara Resources LLC)

  • Formed in 2018 with Alara Resources (Australian company)
  • Awarded 11-year copper mining contract in FY22 valued at USD 125 million
  • Mining operations commenced February 2022, progressing well
  • Executing various drilling and exploration contracts with 4 rigs
  • Generated revenue of INR 1,810 million and PAT of INR 87 million during FY (July-June)

Second Joint Venture (17.5% stake in Al Hadeetha Mining LLC)

  • Established in 2024 with four partners including Alara Resources Ltd, Australia
  • Awarded Exploration and Mining Block 22-B in Oman (approximately 1,400 km²)
  • Contains geological reserves of copper, gold, silver, chromite, and basalt
  • Completed airborne geological survey, data analysis and report under preparation
  • Exploration activities commenced at full swing

Strategic Investment in Alara Resources Ltd, Australia

  • Invested AUD 1.10 million in Alara Resources Limited (ASX: AUQ)
  • For FY26 (July-June), AUQ reported revenue of AUD 135 Mn and PAT of AUD 20 Mn

Coal Block Acquisition

  • Awarded coal block for commercial mining in Jharkhand
  • Block area: 2.66 sq. km with estimated geological reserves of 84 Million Tonnes
  • Notified as accredited prospecting agency by Ministry of Coal, Government of India
  • Exploration activities completed, Geological Report prepared and approved
  • Mining plan preparation underway with target to commence coal production by FY 2028-29

Financial Performance

Q2 FY27 Consolidated Results

  • Operational Revenue: INR 577 Mn (down 7.5% YoY from INR 624 Mn)
  • EBITDA: INR 83 Mn (down 42.8% YoY from INR 145 Mn)
  • EBITDA Margin: 14.38% (down 886 bps YoY from 23.24%)
  • PAT: INR 40 Mn (down 52.4% YoY from INR 84 Mn)
  • PAT Margin: 6.93% (down 653 bps YoY from 13.46%)
  • Diluted EPS: INR 1.23 (down 55.1% YoY from INR 2.74)
  • Total Comprehensive Income: INR 102 Mn (up 20.0% YoY from INR 85 Mn)

H1 FY27 Consolidated Results

  • Operational Revenue: INR 1,194 Mn (up 16.3% YoY from INR 1,027 Mn)
  • EBITDA: INR 232 Mn (up 14.3% YoY from INR 203 Mn)
  • EBITDA Margin: 19.43% (up 34 bps YoY from 19.77%)
  • PAT: INR 133 Mn (up 23.1% YoY from INR 108 Mn)
  • PAT Margin: 11.14% (up 62 bps YoY from 10.52%)
  • Diluted EPS: INR 4.23 (up 20.2% YoY from INR 3.52)
  • Total Comprehensive Income: INR 201 Mn (up 86.1% YoY from INR 108 Mn)

Historical Financial Performance

| Period | Revenue (INR Mn) | EBITDA (INR Mn) | PAT (INR Mn) |

| FY24 | 1,334 | 247 | 83 |

| FY25 | 1,803 | 336 | 164 |

| FY26 | 2,430 | 583 | 330 |

| H1-FY27| 1,194 | 232 | 133 |

Balance Sheet Highlights (H1-FY27)

  • Total Assets: INR 3,556 Mn
  • Property, plant & equipment: INR 992 Mn
  • Investments: INR 231 Mn
  • Trade Receivable: INR 967 Mn
  • Shareholders Funds: INR 2,516 Mn
  • Share Capital: INR 326 Mn
  • Long Term Borrowings: INR 224 Mn
  • Short term Borrowings: INR 456 Mn

Capital Market Information (as on September 30, 2026)

  • Face Value: INR 10
  • CMP: INR 182.9
  • 52 Week High/Low: INR 288.0 / INR 120.6
  • Market Cap: INR 5,971.9 Mn
  • Number of Shares Outstanding: 32.7 Mn
  • 1 Year Average Trading Volume: 323.3 thousand

Recent Developments

  • CRISIL upgraded Company's rating to BBB+/Stable/A2 from BBB/Positive/A3+ during H1 FY27
  • Received NSE and BSE trading approvals for equity shares allotted upon conversion of preferential warrants
  • Funding for planned capex secured, with new drilling rigs and equipment expected in Q3 FY27
  • ARL (Oman JV) reported 603% YoY increase in FY26 PAT to OMR 352,000 (~INR 86.69 Mn)
  • Second Oman JV completed airborne survey covering 1,400 sq. km, identifying 12 copper-gold prospects

Management Commentary

Management remains optimistic about H2 FY27, supported by record order book of INR 7,671 Mn, planned capacity expansion, and encouraging developments across domestic and international operations. Delivery and deployment of new drilling rigs and equipment in Q3 FY27 expected to strengthen execution capabilities and support improved revenue and operating profitability. With monsoon-related disruptions largely behind, equipment utilization and operating efficiencies expected to improve.