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Swing Capital

Hindustan Oil Exploration Company Ltd

NSE: HINDOILEXP BSE: 500186

Hindustan Oil Exploration Company Limited was incorporated in 1983, It is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore. The company is India's first private E&P company and its assets are geographically spread across Tamil Nadu, Maharashtra, Gujarat, Assam and Arunachal Pradesh (both offshore and onshore). [1][2][3]

₹172
52W: ₹118 — ₹194
PE 12.8 · Book ₹92.7 · +86% vs book
Market Cap₹2,269 Cr
Stock P/E12.8Price to Earnings
ROCE14.3%Return on Capital
ROE13.4%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company is expected to give good quarter
  • +Debtor days have improved from 66.9 to 27.3 days.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Tax rate seems low
  • −Company has a low return on equity of 13.4% over last 3 years.
  • −Earnings include an other income of Rs.105 Cr.
  • −Working capital days have increased from 144 days to 288 days

Shareholding Pattern

Promoters0%
FIIs1.49%
DIIs0.12%
Public98.38%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters0%0%0%0%0%0%0%0%
FIIs1.8%1.64%▼0.21.4%▼0.21.76%▲0.41.45%▼0.31.71%▲0.31.38%▼0.31.49%▲0.1
DIIs0.52%0.28%▼0.20.34%▲0.10.32%▼0.00.48%▲0.20.49%▲0.00.12%▼0.40.12%
Public97.67%98.07%▲0.498.25%▲0.297.92%▼0.398.06%▲0.197.79%▼0.398.49%▲0.798.38%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales66952207152681257731172
Expenses2290196614859315528954
Operating Profit445231141095222218
OPM %67%5%11%15%8%14%75%29%7%25%
Net Profit395201225130481912
EPS ₹2.930.361.490.920.160.389.833.651.440.9

AI Insights

Revenue Trend

TTM revenue at ₹585Cr, up 70.1% YoY. OPM at 27%.

Debt Position

Borrowings at ₹49Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.

Capex Cycle

CWIP at ₹50Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.12% (-1.33pp change). FIIs: 1.49% (+0.75pp change). Promoters hold 0%.

Margin & Efficiency

ROCE improving from -8% (Mar 2014) to 14% (Mar 2025). Working capital days: 288.

Valuation

PE 12.8x with 14.3% ROCE. Price is 86% above book value of ₹92.7. Dividend yield: 0%.

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