Hindustan Oil Exploration Company Ltd.

•

hoec.comBSE: 500186NSE: HINDOILEXP

Market Cap₹ 2,587 Cr.

Current Price

High / Low₹ 201 / 118

Stock P/E103.0

Book Value₹ 105

Price to Book1.71

Dividend Yield0.00 %

ROCE12.3 %

ROE11.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2018 • Hydrocarbon: 80.5% • Unallocated: 19.5%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

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PROS

Company is almost debt free
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 15.8% CAGR over last 5 years
Company generates healthy free cash flow
Company comfortably covers its interest (7.8x coverage)

CONS

Recent results are weak - TTM profit is down 86.8% versus prior year
A large part of profit comes from other income (50.8% of PBT)
Working capital days have increased from 67 to 242 days
Operating margins have contracted to 41.2% from 58.2%
Effective tax rate is unusually low at 1.8% - earnings may be flattered
Company has delivered a poor profit growth of 1.4% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsCrude OilOil Exploration

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ONGC	233.80	6.76	294126.93	5.67	6554.44	-43.27	204987.35	25.68	15.96	7.85
2.	OIL	499.00	9.72	81167.73	2.30	4026.83	-80.32	12886.27	47.27	12.43	46.35
3.	DEEPINDS	793.30	24.59	5077.12	0.32	89.15	44.48	278.92	39.81	7.44	38.77
4.	ANTELOPUS	1171.70	31.04	4119.97	0.00	543.20	4741.35	1310.40	2488.19	22.91	70.18
5.	DOLPHIN	686.25	38.12	2745.31	0.00	148.14	1207.16	428.46	2505.73	14.92	59.07
6.	ASIANENE	534.05	45.13	2598.00	0.23	12.76	126.51	271.19	135.06	16.63	8.09
7.	HINDOILEXP	195.65	103.05	2587.34	0.00	6.24	-85.79	114.18	45.17	12.33	4.82
8.	JINDRILL	673.05	10.18	1950.57	0.15	47.14	-28.69	275.39	8.38	15.30	35.72
9.	GNRL	109.02	86.59	1672.40	0.00	11.35	488.84	5.72	70.36	-0.56	202.01
10.	AAKASH	8.49	16.96	85.96	0.00	0.26	-36.86	23.35	7.11	5.39	9.38

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	168	113	179	290	136	95	147	43	79	315	75	-206	114
	77	43	108	215	74	63	72	39	46	292	48	-233	128
Operating Profit	90	70	71	75	62	32	74	5	32	23	27	27	-14
OPM %	53.80%	61.97%	39.44%	25.78%	45.82%	33.45%	50.52%	10.99%	40.90%	7.22%	36.16%	-12.93%	-11.92%
	6	3	10	36	11	5	4	57	35	2	4	7	20
Interest	9	8	7	6	6	5	5	5	4	4	4	4	3
Depreciation	20	18	21	20	18	18	20	22	18	17	20	20	16
Profit before Tax	67	46	51	84	48	13	52	36	45	4	7	9	7
Tax %	2.28%	2.00%	9.38%	17.38%	13.59%	19.31%	17.44%	-43.79%	1.94%	28.72%	-20.70%	13.76%	4.82%
Net Profit	0	0	0	0	42	11	43	51	44	3	8	8	6
	5.00	3.26	3.52	5.34	3.17	0.82	3.28	3.87	3.32	0.21	0.63	0.59	0.47

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	49	25	49	265	202	114	156	559	749	421	299
	40	24	18	77	77	59	77	247	440	247	236
Operating Profit	8	1	31	188	125	55	79	312	309	174	63
OPM %	17.09%	5.27%	63.20%	70.78%	61.69%	47.92%	50.85%	55.89%	41.26%	41.24%	21.10%
	14	48	16	14	48	25	-23	-3	52	76	33
Interest	5	0	1	2	6	6	9	38	32	22	16
Depreciation	12	10	8	44	29	23	26	74	80	78	73
Profit before Tax	6	40	38	157	137	52	20	197	248	150	26
Tax %	11.19%	9.87%	0.00%	0.08%	-0.19%	-3.08%	-1.57%	1.64%	8.80%	1.83%	4.83%
Net Profit	5	36	38	157	138	53	20	194	226	147	25
EPS	0.38	2.76	2.85	11.91	10.46	4.04	1.51	14.67	17.12	11.13	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 22%
5 Years:: 16%
3 Years:: 39%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 1%
3 Years:: 95%

STOCK PRICE CAGR

10 Years:: 14%
5 Years:: -1%
3 Years:: 4%
1 Year:: 10%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 13%
3 Years:: 19%
Last Year:: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	130	130	130	130	132	132	132	132	132	132
	175	211	253	410	547	601	621	815	1,042	1,189
	26	22	22	34	32	254	458	472	201	148
Trade Payables	9	18	18	16	66	32	38	117	157	143
	150	143	120	143	258	166	278	314	419	350
Total Liabilities	491	525	544	734	1,036	1,185	1,527	1,850	1,951	1,962
	68	231	280	380	353	331	507	1,244	1,244	1,188
Capital Work in Progress	130	6	6	26	327	535	782	32	38	48
	74	160	51	137	118	65	19	133	0	0
	24	25	28	28	27	36	8	81	42	210
	0	0	0	0	0	0	0	0	314	121
Cash & Bank	53	34	92	35	86	72	65	78	69	136
	141	68	88	128	125	147	146	283	244	260
Total Assets	491	525	544	734	1,036	1,185	1,527	1,850	1,951	1,962

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	60	26	-8	167	288	-81	107	225	123	161
Cash from Investing	-1	-32	-60	-148	-297	-208	-280	-77	-39	-83
Cash from Financing	0	0	0	0	34	206	106	-27	-215	-78
	93	67	-67	20	24	-79	-63	115	-132	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	1.80	1.64	1.40	1.76	1.45	1.71	1.38	1.49	1.88
	0.52	0.28	0.32	0.30	0.46	0.47	0.10	0.10	0.11
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	97.68	98.08	98.28	97.94	98.09	97.81	98.50	98.41	98.02

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Hindustan Oil Exploration Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

General Updates

2026-09-02 - Hindustan Oil Exploration Company Limited has informed the Exchange about AGM and Book Closure Notice

2026-09-02

Shareholders meeting

2026-09-02 - Hindustan Oil Exploration Company Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-09-01

General Updates

2026-09-01 - Hindustan Oil Exploration Company Limited has informed the Exchange about General Updates

2026-08-29

Copy of Newspaper Publication

2026-08-29 - Hindustan Oil Exploration Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-20

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-20 - Hindustan Oil Exploration Company Limited has informed the Exchange about Transcript

2026-08-19

General Updates

2026-08-19 - Hindustan Oil Exploration Company Limited has informed the Exchange about General Updates

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Hindustan Oil Exploration Company Limited has informed the Exchange about Link of Recording

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Hindustan Oil Exploration Company Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for HINDOILEXP

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Hindustan Oil Exploration Company Ltd.

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Free 5nance Account

Name

ONGC

233.80

6.76

294126.93

5.67

6554.44

-43.27

204987.35

25.68

15.96

7.85

OIL

499.00

9.72

81167.73

2.30

4026.83

-80.32

12886.27

47.27

12.43

46.35

DEEPINDS

793.30

24.59

5077.12

0.32

89.15

44.48

278.92

39.81

7.44

38.77

ANTELOPUS

1171.70

31.04

4119.97

0.00

543.20

4741.35

1310.40

2488.19

22.91

70.18

DOLPHIN

686.25

38.12

2745.31

0.00

148.14

1207.16

428.46

2505.73

14.92

59.07

ASIANENE

534.05

45.13

2598.00

0.23

12.76

126.51

271.19

135.06

16.63

8.09

HINDOILEXP

195.65

103.05

2587.34

0.00

6.24

-85.79

114.18

45.17

12.33

4.82

JINDRILL

673.05

10.18

1950.57

0.15

47.14

-28.69

275.39

8.38

15.30

35.72

GNRL

109.02

86.59

1672.40

0.00

11.35

488.84

5.72

70.36

-0.56

202.01

AAKASH

8.49

16.96

85.96

0.00

0.26

-36.86

23.35

7.11

5.39

9.38

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

168

113

179

290

136

147

315

-206

114

108

215

292

-233

128

Operating Profit

-14

OPM %

53.80%

61.97%

39.44%

25.78%

45.82%

33.45%

50.52%

10.99%

40.90%

7.22%

36.16%

-12.93%

-11.92%

Interest

Depreciation

Profit before Tax

Tax %

2.28%

2.00%

9.38%

17.38%

13.59%

19.31%

17.44%

-43.79%

1.94%

28.72%

-20.70%

13.76%

4.82%

Net Profit

5.00

3.26

3.52

5.34

3.17

0.82

3.28

3.87

3.32

0.21

0.63

0.59

0.47

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

265

202

114

156

559

749

421

299

247

440

247

236

Operating Profit

188

125

312

309

174

OPM %

17.09%

5.27%

63.20%

70.78%

61.69%

47.92%

50.85%

55.89%

41.26%

41.24%

21.10%

-23

-3

Interest

Depreciation

Profit before Tax

157

137

197

248

150

Tax %

11.19%

9.87%

0.00%

0.08%

-0.19%

-3.08%

-1.57%

1.64%

8.80%

1.83%

4.83%

Net Profit

157

138

194

226

147

EPS

0.38

2.76

2.85

11.91

10.46

4.04

1.51

14.67

17.12

11.13

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

130

132

175

211

253

410

547

601

621

815

1,042

1,189

254

458

472

201

148

Trade Payables

117

157

143

150

143

120

143

258

166

278

314

419

350

Total Liabilities

491

525

544

734

1,036

1,185

1,527

1,850

1,951

1,962

231

280

380

353

331

507

1,244

1,188

Capital Work in Progress

130

327

535

782

160

137

118

133

210

314

121

Cash & Bank

136

141

128

125

147

146

283

244

260

Total Assets

491

525

544

734

1,036

1,185

1,527

1,850

1,951

1,962

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-8

167

288

-81

107

225

123

161

Cash from Investing

-1

-32

-60

-148

-297

-208

-280

-77

-39

-83

Cash from Financing

206

106

-27

-215

-78

-67

-79

-63

115

-132

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Promoters

0.00

1.80

1.64

1.40

1.76

1.45

1.71

1.38

1.49

1.88

0.52

0.28

0.32

0.30

0.46

0.47

0.10

0.11

Government

0.00

97.68

98.08

98.28

97.94

98.09

97.81

98.50

98.41

98.02

Hindustan Oil Exploration Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Hindustan Oil Exploration Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI