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Oil & Gas Exploration & Services: Q1 FY27 results (April-June 2026)
11 companies have declared Oil & Gas Exploration & Services Q1 FY27 results so far, the latest on 13 Aug 2026.
Across the 10 non-financial companies with a year-ago quarter to compare, sales grew +25.8% and net profit -42.1% year on year, and the combined operating margin narrowed 829 bps to 7.8%.
50% of companies grew net profit; 1 turned a loss into a profit; 25% beat their own profit trend and 62% fell short of it.
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Oil & Gas Exploration & Services Q1 FY27 scoreboard
Sales growth
+25.8%
YoY, 10 companies combined; median +42.5%
Net profit growth
-42.1%
YoY combined; median -2.8%
Operating margin
7.8%
-829 bps YoY
Grew profit
50%
1 turnaround, 0 into loss
Vs own profit trend
25% / 62%
above / below, 12% in line
Price since results
+0.4%
median; 56% of 9 stocks up
Other-income heavy
5
25%+ of pre-tax profit from other income & one-offs
Latest Oil & Gas Exploration & Services Q1 FY27 results 11
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M Cap ₹2,187 Cr
P/E 36.6
PEG 0.70
Since results +13.4%
Profit +13% above its own trend Operating margin contracted 214 bps YoY Core business grew faster than reported profit (core profit +147%)
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+135.1% -19.8%
271 338 115 Operating profit
+84.5% -55.9%
21.1 48.0 11.5 OPM %
-214 bps -640 bps
7.8% 14.2% 9.9% Other income
+28.3% —
3.3 0.0 2.6 Net profit
+126.5% -61.3%
12.8 33.0 5.6 PAT margin %
-18 bps -506 bps
4.7% 9.8% 4.9% EPS (₹)
+104.0% -64.4%
2.53 7.11 1.24
Quality of profit
Pre-tax profit ₹17.1 Cr: core business ₹13.0 Cr, other income ₹3.3 Cr, exceptional & other items ₹0.8 Cr.
Core profit YoY: +147.0%
· reported profit +126.5%
Cash & debt
FY26 cash from operations ₹53.0 Cr:
101% of FY26 net profit of ₹52.6 Cr.
Borrowings ₹159 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹202 ₹271
+34.5% above Net profit ₹11.3 ₹12.8
+13.2% above
AI read of the filing ASIANENE Q1 FY27 Results: Rs 8.68 Cr Warrant Forfeiture & Pending Oilmax Merger Update Neutral Forfeited Rs 8.68 crore in upfront payments after 10,37,298 warrants lapsed on May 5, 2026. Allotted 36,62,702 equity shares following the conversion of warrants by other holders. Project-related costs increased to Rs 113.35 crore in Q1 FY27 from Rs 92.72 crore in Q1 FY26. Full analysis →
M Cap ₹2,239 Cr
P/E 89.2
PEG —
Since results +4.6%
Profit -72% below its own trend Operating margin contracted 3608 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+45.2% from loss 114 -206 78.7 Operating profit
-82.9% -79.3%
5.5 26.6 32.2 OPM %
-3608 bps +1775 bps
4.8% -12.9% 40.9% Other income
+606.7% +200.9%
20.2 6.7 2.9 Net profit
-85.8% -19.7%
6.2 7.8 43.9 PAT margin %
-5032 bps +924 bps
5.5% -3.8% 55.8% EPS (₹)
-85.8% -20.3%
0.47 0.59 3.32
Quality of profit
Pre-tax profit ₹6.6 Cr: core business −₹13.6 Cr, other income ₹20.2 Cr.
Core profit YoY: to loss
· reported profit -85.8%
Cash & debt
FY26 cash from operations ₹178 Cr:
284% of FY26 net profit of ₹62.7 Cr.
Borrowings ₹50.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹45.4 ₹114
+151.3% above Net profit ₹21.9 ₹6.2
-71.6% below
AI read of the filing ₹1,000 Cr Borrowing Limit Approved; Q1 FY27 Consolidated Revenue at ₹114.88 Cr Watch Consolidated Revenue from operations reached ₹114.88 Cr for the quarter ended June 30, 2026. Board approved a significant increase in borrowing limits to ₹1,000 Cr, subject to shareholder approval. Conciliation proceedings are ongoing with HPCL regarding the cancellation of a ₹258.78 Cr crude oil sale arrangement. Full analysis →
M Cap ₹82.0 Cr
P/E 23.7
PEG —
Since results -10.5%
Profit -51% below its own trend Operating margin contracted 405 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+16.9% -14.6%
27.9 32.6 23.9 Operating profit
-22.3% -58.0%
2.2 5.3 2.9 OPM %
-405 bps -828 bps
8.0% 16.3% 12.1% Other income
+412.0% +151.7%
1.5 0.6 0.3 Net profit
-2.8% -72.1%
0.5 1.9 0.5 PAT margin %
-38 bps -388 bps
1.9% 5.8% 2.3% EPS (₹)
+0.0% -73.7%
0.05 0.19 0.05
Quality of profit
Pre-tax profit ₹0.7 Cr: core business −₹0.8 Cr, other income ₹1.5 Cr.
Core profit YoY: to loss
· reported profit -2.8%
Cash & debt
FY26 cash from operations ₹14.0 Cr:
400% of FY26 net profit of ₹3.5 Cr.
Borrowings ₹22.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹28.0 ₹27.9
-0.2% in line Net profit ₹1.1 ₹0.5
-51.4% below
AI read of the filing Aakash Exploration Q1 Net Profit flat at ₹0.52 Cr; Revenue up 17% YoY to ₹27.89 Cr Neutral Revenue from operations increased 16.9% YoY to ₹27.89 Cr from ₹23.86 Cr. Net profit for Q1 FY27 stood at ₹0.52 Cr, down 72.3% from ₹1.88 Cr in Q4 FY26. Cost of materials consumed surged 71.5% YoY to ₹5.70 Cr, impacting operating margins. Full analysis →
M Cap ₹1,659 Cr
P/E 8.7
PEG 0.28
Since results -9.6%
Profit -53% below its own trend Operating margin contracted 440 bps YoY
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+8.4% +4.7%
275 263 254 Operating profit
-3.0% +32.9%
104 78.0 107 OPM %
-440 bps +798 bps
37.6% 29.7% 42.0% Other income
-14.9% -59.9%
7.2 18.0 8.5 Net profit
-28.7% +4.8%
47.1 45.0 66.1 PAT margin %
-890 bps +1 bps
17.1% 17.1% 26.0% EPS (₹)
-28.7% +3.9%
16.27 15.66 22.81
Quality of profit
Pre-tax profit ₹65.4 Cr: core business ₹63.5 Cr, other income ₹7.2 Cr, exceptional & other items −₹5.3 Cr.
Core profit YoY: -5.3%
· reported profit -28.7%
Cash & debt
FY26 cash from operations ₹178 Cr:
85% of FY26 net profit of ₹210 Cr.
Borrowings ₹93.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹312 ₹275
-11.6% below Net profit ₹99.6 ₹47.1
-52.7% below
AI read of the filing JINDRILL Q1 FY27: Revenue up 8.4% YoY to ₹275 Cr; Consolidated PAT falls 28.7% on JV losses Neutral Consolidated Revenue increased to ₹275.39 Cr from ₹254.09 Cr in Q1 FY26. Consolidated Net Profit fell to ₹47.14 Cr from ₹66.11 Cr in the year-ago period. Share of profit/loss from Joint Ventures swung from a ₹9.66 Cr gain to a ₹5.28 Cr loss. Full analysis →
M Cap ₹31,556 Cr
P/E 110.2
PEG —
Since results +0.4%
Operating margin expanded 224 bps YoY
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+12.4% -3.8%
234 243 208 Operating profit
+15.8% +0.2%
179 179 155 OPM %
+224 bps +309 bps
76.8% 73.7% 74.5% Other income
-60.4% +9.0%
4.4 4.0 11.0 Net profit
-12.1% -6.2%
69.4 74.0 79.0 PAT margin %
-829 bps -76 bps
29.7% 30.5% 38.0% EPS (₹)
-6.3% -3.2%
0.60 0.62 0.64
Quality of profit
Pre-tax profit ₹89.0 Cr: core business ₹84.6 Cr, other income ₹4.4 Cr.
Core profit YoY: +2.0%
· reported profit -12.1%
AI read of the filing Aegis Vopak Q1 FY27: Revenue up 29% YoY to ₹178.5 Cr; PAT rises 18.8% to ₹50.7 Cr Positive Revenue from operations increased to ₹178.49 Cr in Q1 FY27 from ₹138.35 Cr in Q1 FY26. Net Profit for the quarter stood at ₹50.68 Cr, up from ₹42.66 Cr in the same period last year. Liquid Terminal division revenue grew significantly to ₹100.71 Cr compared to ₹71.21 Cr YoY. Full analysis →
M Cap ₹2,78,364 Cr
P/E 6.2
PEG 6.21
Since results -9.1%
Profit -55% below its own trend Operating margin contracted 833 bps YoY 55% of pre-tax profit came from other income and one-off items Exceptional items of ₹472 Cr in the quarter Profit grew faster than the core business (core profit -76%)
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+25.7% +17.9%
2,04,987 1,73,805 1,63,108 Operating profit
-40.2% -38.9%
15,485 25,356 25,907 OPM %
-833 bps -703 bps
7.6% 14.6% 15.9% Other income
+8.4% -51.1%
2,789 5,699 2,573 Net profit
-43.3% -52.1%
6,554 13,678 11,554 PAT margin %
-389 bps -467 bps
3.2% 7.9% 7.1% EPS (₹)
+21.4% +10.0%
9.46 8.60 7.79
Quality of profit
Pre-tax profit ₹7,012 Cr: core business ₹3,154 Cr, other income ₹2,789 Cr, exceptional & other items ₹1,070 Cr.
Core profit YoY: -76.1%
· reported profit -43.3%
Cash & debt
FY26 cash from operations ₹1,12,719 Cr:
226% of FY26 net profit of ₹49,793 Cr.
Borrowings ₹1,74,316 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,63,544 ₹2,04,987
+25.3% above Net profit ₹14,431 ₹6,554
-54.6% below
AI read of the filing ONGC Reports Rs 15,365 Cr Contingent Liability in Q1 FY27 Results; Takes Control of CB-OS/2 Block Watch Contingent liability of Rs 15,365 Crore (USD 1,624.05 million) reported for PMT JV arbitration as of June 30, 2026. Disputed Service Tax/GST liabilities on royalty total Rs 9,134 Crore, including Rs 6,934 Crore for JV partners' shares. Took effective control of the CB-OS/2 offshore oil and gas block on July 22, 2026, following a 50% share dispute. Full analysis →
M Cap ₹11,752 Cr
P/E —
PEG —
Since results -13.3%
All of pre-tax profit came from other income or one-off items Exceptional items of ₹656 Cr in the quarter
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
— —
2,507 — — Operating profit
— —
814 — — OPM %
— —
32.5% — — Other income
— —
151 — — Net profit
— —
945 — — PAT margin %
— —
37.7% — — EPS (₹)
— —
2.42 — —
Quality of profit
Pre-tax profit ₹770 Cr: core business −₹37.0 Cr, other income ₹151 Cr, exceptional & other items ₹656 Cr.
Core profit YoY: —
AI read of the filing VOGL Reports ‡379 Cr Impairment in Q1; Demerger from Vedanta Ltd Approved by MoPNG Watch ‡379 crore impairment charge recognized in Q1 FY27 due to the non-extension of the Cambay Block PSC ‡957 crore revenue contributed by the demerged Cairn Oil & Gas business for the two months ended June 30, 2026 ‡10 crore loss before tax reported for the demerged operations during the May-June 2026 period Full analysis →
M Cap ₹4,777 Cr
P/E 21.3
PEG 0.34
Since results +45.4%
Operating margin contracted 212 bps YoY
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+39.8% +12.1%
279 249 199 Operating profit
+32.5% +32.0%
108 81.9 81.6 OPM %
-212 bps +584 bps
38.8% 32.9% 40.9% Other income
+76.3% from loss 23.7 -183 13.4 Net profit
+44.5% from loss 89.1 -7.2 61.7 PAT margin %
+103 bps +3486 bps
32.0% -2.9% 30.9% EPS (₹)
+45.2% from loss 13.34 -2.24 9.19
Quality of profit
Pre-tax profit ₹112 Cr: core business ₹88.0 Cr, other income ₹23.7 Cr.
Core profit YoY: +36.5%
· reported profit +44.5%
Cash & debt
FY26 cash from operations ₹270 Cr:
137% of FY26 net profit of ₹197 Cr.
Borrowings ₹203 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹310 ₹279
-9.9% below Net profit ₹98.3 ₹89.1
-9.3% in line
AI read of the filing Deep Industries Q1 PAT Jumps 47% YoY to ₹91 Cr; Board Approves 15 Lakh ESOPs Positive Consolidated Revenue for Q1 FY27 increased to ₹267.49 Cr from ₹199.50 Cr in Q1 FY26. Net Profit (PAT) grew significantly to ₹91.00 Cr, up from ₹61.70 Cr in the same period last year. Approved ESOP 2026 scheme covers 15,00,000 equity shares, representing approximately 2.1% of the current equity base. Full analysis →
M Cap ₹2,560 Cr
P/E 35.7
PEG 0.31
Since results +63.2%
Profit -33% below its own trend Operating margin contracted 4094 bps YoY
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+167.8% -4.8%
42.8 45.0 16.0 Operating profit
+58.2% +110.9%
25.3 12.0 16.0 OPM %
-4094 bps +3240 bps
59.1% 26.7% 100.0% Other income
— -99.7%
0.0 12.0 0.0 Net profit
+34.7% -47.1%
14.8 28.0 11.0 PAT margin %
-3418 bps -2765 bps
34.6% 62.2% 68.8% EPS (₹)
+30.7% -47.7%
3.70 7.08 2.83
Quality of profit
Pre-tax profit ₹16.5 Cr: core business ₹16.5 Cr, other income ₹0.0 Cr.
Core profit YoY: +37.1%
· reported profit +34.7%
Cash & debt
FY26 cash from operations ₹45.0 Cr:
66% of FY26 net profit of ₹67.9 Cr.
Borrowings ₹203 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹29.6 ₹42.8
+44.8% above Net profit ₹22.0 ₹14.8
-32.7% below
AI read of the filing Dolphin Offshore Re-appoints MD for 5-Year Term; Approves Q1 FY27 Results Neutral Re-appointment of Mr. Rupesh Kantilal Savla as Managing Director for a 5-year term effective December 7, 2026. Approval of standalone and consolidated un-audited financial results for the quarter ended June 30, 2026. MD possesses over 29 years of experience in the energy sector and an MBA from Bentley College, USA. Full analysis →
M Cap ₹3,873 Cr
P/E 29.4
PEG —
Profit +141% above its own trend Operating margin expanded 1724 bps YoY Core business grew faster than reported profit (core profit +579%)
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+158.7% +28.4%
131 102 50.6 Operating profit
+242.9% +58.6%
92.0 58.0 26.8 OPM %
+1724 bps +1337 bps
70.2% 56.9% 53.0% Other income
to loss to loss -9.0 2.0 2.9 Net profit
+381.3% +42.1%
54.0 38.0 11.2 PAT margin %
+1906 bps +397 bps
41.2% 37.3% 22.2% EPS (₹)
+384.3% +42.7%
15.45 10.83 3.19
Quality of profit
Pre-tax profit ₹73.0 Cr: core business ₹82.0 Cr, other income −₹9.0 Cr.
Core profit YoY: +579.4%
· reported profit +381.3%
Against its own trend ?
Trend Actual Gap
Sales ₹87.5 ₹131
+49.6% above Net profit ₹22.4 ₹54.0
+140.6% above
M Cap ₹3,422 Cr
P/E 3049.1
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 4264 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Jun 2026 Mar 2026 Jun 2025
Sales
+49.1% +17.4%
1.7 1.4 1.1 Operating profit
from loss from loss 0.3 -0.0 -0.3 OPM %
+4264 bps +2102 bps
18.9% -2.1% -23.7% Other income
-1.0% -47.4%
0.1 0.2 0.1 Net profit
from loss +190.0%
0.3 0.1 -0.2 PAT margin %
+3652 bps +1022 bps
17.2% 6.9% -19.4% EPS (₹)
from loss +100.0%
0.02 0.01 -0.02
Quality of profit
Pre-tax profit ₹0.3 Cr: core business ₹0.2 Cr, other income ₹0.1 Cr.
Core profit YoY: from loss
Against its own trend ?
Trend Actual Gap
Sales ₹1.8 ₹1.7
-5.2% below
Standouts so far
Among companies with a market cap of ₹1,000 Cr or more, so a tiny base does not top the list. Price reaction: last close against the close before the filing.
Reporting in the next three days
HCL Technologies (Mon 12 Oct), ICICI Prudential (Mon 12 Oct), RBL Bank (Mon 12 Oct), Swan Defence (Mon 12 Oct), Gujarat State (Mon 12 Oct), Swaraj Engines (Mon 12 Oct), Plastiblends India (Mon 12 Oct), UMIYA BUILDCON (Mon 12 Oct), Alkali Metals (Mon 12 Oct), Gradiente Infotainment (Mon 12 Oct), Agri-Tech (India) (Mon 12 Oct), Abhishek Integrations (Mon 12 Oct), Rudra Ecovation (Mon 12 Oct), Newtrac Foods (Mon 12 Oct), Inani Securities (Mon 12 Oct), Neil Industries (Mon 12 Oct), Adroit Industries (Mon 12 Oct), TYPHOON (Mon 12 Oct), UNIVARTS (Mon 12 Oct), VERONICAPRO (Mon 12 Oct), ICICI Prudential (Tue 13 Oct), Tata Elxsi (Tue 13 Oct), Transformers And Rectifiers (Tue 13 Oct), Anand Rathi (Tue 13 Oct) and 87 more.
Full results calendar →
How to read this page
The numbers. Each card is one company's Q1 FY27 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 12 Oct 2026, 12:20 IST
