Key Quantitative Figures
Consolidated Financial Performance (Q2 FY27 vs Q2 FY26):
- Revenue from operations: ₹2,488 crore (vs ₹2,342 crore YoY)
- Profit before tax: ₹775 crore (vs ₹113 crore YoY)
- Profit after tax: ₹746 crore (vs loss of ₹8 crore YoY)
- Earnings per share (basic): ₹1.91 (vs loss per share of ₹0.02 YoY)
Consolidated Financial Performance (H1 FY27 vs H1 FY26):
- Revenue from operations: ₹4,995 crore (vs ₹4,652 crore YoY)
- Profit before tax: ₹448 crore (vs ₹107 crore YoY)
- Profit after tax: ₹1,691 crore (vs loss of ₹195 crore YoY)
- Earnings per share (basic): ₹4.32 (vs loss per share of ₹0.49 YoY)
Standalone Financial Performance (Q2 FY27):
- Revenue from operations: ₹1,433 crore
- Profit after tax: ₹515 crore
- Earnings per share (basic): ₹1.32
Standalone Financial Performance (H1 FY27):
- Revenue from operations: ₹2,880 crore
- Profit after tax: ₹1,210 crore
- Earnings per share (basic): ₹3.10
Balance Sheet Highlights (Consolidated as of September 30, 2026):
- Total assets: ₹36,279 crore
- Property, plant and equipment: ₹7,081 crore
- Capital work-in-progress: ₹6,293 crore
- Total equity: ₹18,391 crore
- Borrowings (current + non-current): ₹2,654 crore
- Cash and cash equivalents: ₹70 crore
Dates of Action
- Board meeting date: October 29, 2026 (3:07 PM to 4:02 PM IST)
- Financial period: Quarter and half year ended September 30, 2026
- Effective date of demerger: May 1, 2026
- Share allotment date: May 4, 2026
- Cambay PSC expiry: June 29, 2023
- MoPNG rejection letter: September 19, 2025
- Delhi High Court dismissal: July 22, 2026
- Appeal hearing concluded: October 1, 2026
Parties Involved
- Subsidiaries: Cairn India Holdings Limited, Cairn Energy Hydrocarbons Limited, Cairn Lanka Private Limited (under liquidation), AvanStrate Inc. (up to April 30, 2026), Fujairab Gold FZC (up to April 30, 2026)
- Statutory Auditors: Walker Chandiok & Co LLP
- Previous Auditor: S.R. Batliboi & Co. LLP
- Regulatory Bodies: SEBI, Ministry of Petroleum & Natural Gas (MoPNG), Delhi High Court
- Joint Venture Partners: Not specifically named
- ONGC: Taken over Cambay block operations
Purpose and Rationale
The disclosure is made to comply with SEBI Listing Regulations requirements for quarterly financial results submission. The financial results reflect the company's performance following the demerger from Vedanta Limited and include the impact of the ongoing Cambay PSC litigation.
Financial Impact Disclosure
The company has recognized a provision for impairment of approximately ₹379 crore in Q1 FY27 against the carrying value of non-financial assets and certain balances pertaining to Cambay Block due to the uncertainty regarding recoverability following the PSC litigation outcome and ONGC takeover of the block.
Capital Structure Impact
Pursuant to the demerger scheme, the company allotted 391,03,88,057 equity shares of face value of ₹1 each to eligible shareholders of Vedanta Limited on May 4, 2026. The paid-up equity share capital increased from ₹5 crore to ₹391 crore as a result of this allotment.
Cash Flow Implications
Consolidated Cash Flows (H1 FY27):
- Net cash generated from operating activities: ₹2,230 crore
- Net cash used in investing activities: ₹347 crore
- Net cash used in financing activities: ₹3,629 crore
- Net decrease in cash and cash equivalents: ₹1,746 crore
Standalone Cash Flows (H1 FY27):
- Net cash generated from operating activities: ₹1,960 crore
- Net cash used in investing activities: ₹1,017 crore
- Net cash used in financing activities: ₹2,357 crore
- Net decrease in cash and cash equivalents: ₹1,414 crore
Forward-Looking Information
The matter regarding Cambay PSC extension remains subject to further legal remedies and regulatory developments. The ultimate outcome of the litigation and its consequential impact, if any, cannot presently be determined. Management has recognized the impairment charge based on facts and circumstances available as at the reporting date.