Jindal Drilling And Industries Limited (JINDRILL)
₹570.00 -0.11% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Jindal Drilling's revenue was ₹275 Cr (+8.4% year on year, +4.7% on the previous quarter), and net profit ₹47.1 Cr (-28.7% year on year); the operating margin was 37.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹275 | +8.4% | +4.7% |
| Operating profit | ₹104 | -3.0% | +32.9% |
| Net profit | ₹47.1 | -28.7% | +4.8% |
| EPS (₹) | 16.27 | -28.7% | +3.9% |
| Operating margin | 37.6% | — | — |
JINDRILL delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 45.08% of the JINDRILL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 31.96%. Delivery was unusually high while the price barely moved (-0.11%). Volume was 0.1 times its average, well below normal. 14 bulk or block deals were reported in JINDRILL in the last 60 days: ₹102 Cr bought and ₹99 Cr sold.
Delivery in the last 5 sessions: 33.2% · 42.9% · 34.2% · 47.1% · 45.1%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 28 Sep | Sell | Microcurves Trading Private Limited | ₹30.32 Cr | ₹629.22 | 481,899 | Bulk |
| 28 Sep | Buy | Microcurves Trading Private Limited | ₹30.29 Cr | ₹628.59 | 481,899 | Bulk |
| 28 Sep | Buy | Junomoneta Finsol Private Limited | ₹17.24 Cr | ₹627.21 | 274,893 | Bulk |
| 28 Sep | Sell | Junomoneta Finsol Private Limited | ₹17.23 Cr | ₹627.49 | 274,642 | Bulk |
| 28 Sep | Sell | Nk Securities Research Private Limited | ₹13.77 Cr | ₹625.78 | 220,101 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Jindal Drilling And Industries Limited concluded its 42nd Annual General Meeting (AGM) on September 15, 2026, held via Video Conferencing. Key ordinary agenda items included the adoption of FY26 financial statements, declaration of dividend on equity shares, and the re-appointment of retiring director Mr. Shiv Kumar Singhal. The meeting commenced at 3:00 P.M. and concluded at 3:22 P.M. Voting results under Regulation 44(3) will be submitted within two working days following the Scrutinizer's report.
- 42nd AGM conducted via Video Conferencing on September 15, 2026, from 3:00 P.M. to 3:22 P.M.
- Remote e-voting was open between September 11, 2026 (09:00 A.M.) and September 14, 2026 (05:00 P.M.)
- Three ordinary resolutions tabled, including dividend declaration and adoption of FY26 financial statements
- Consolidated scrutinizer's report and formal voting results to be announced within 2 working days
Jindal Drilling And Industries Limited has informed the exchanges regarding the dispatch of letters to shareholders who have not registered their email addresses, providing them with the web-link to access the FY2025-26 Annual Report and AGM Notice. The company's 42nd Annual General Meeting (AGM) is scheduled to be held on Tuesday, September 15, 2026, at 3:00 PM IST via video conferencing. This is a standard statutory compliance filing under Regulation 36(1)(b) of the SEBI LODR Regulations.
- 42nd Annual General Meeting scheduled for Tuesday, September 15, 2026, at 3:00 PM IST via VC/OAVM
- AGM Notice dated August 7, 2026 dispatched alongside FY26 Annual Report details
- Dispatched under SEBI LODR Regulation 36(1)(b) to shareholders without registered email addresses
Jindal Drilling And Industries Limited has issued the notice for its 42nd Annual General Meeting to be held on September 15, 2026, via Video Conferencing. The Board has recommended an ordinary dividend of ₹1 per equity share (face value ₹5) for FY26, with the record date fixed as September 1, 2026. Remote e-voting is scheduled from September 11 to September 14, 2026, for shareholders as of the cut-off date of September 8, 2026. The agenda includes the adoption of FY26 audited financial statements and the re-appointment of retiring director Mr. Shiv Kumar Singhal.
- 42nd Annual General Meeting convened for September 15, 2026 at 3:00 PM IST via VC/OAVM
- Dividend recommended at ₹ 1/- per Equity Share of face value ₹ 5/- each for FY26
- Record date for dividend entitlement fixed as September 1, 2026; payout on or after September 17, 2026
- Remote e-voting window open from September 11, 2026 (9:00 AM) to September 14, 2026 (5:00 PM)
Jindal Drilling reported a steady Q1 FY27 but guided for a revenue decline in H2 FY27 as three rigs (Discovery-I, Virtue-I, and Jindal Star) will be dehired for 4-6 months of refurbishment. The company's order book stands at ₹1,310 crores, approximately 1.28x its TTM revenue. A new contract for the 'Jindal Pioneer' rig was secured at a fixed rate of ~₹45.83 lakhs/day, with deployment expected in October 2026. While absolute earnings will dip during the maintenance phase, management expects EBITDA margins to remain resilient due to the mix of owned vs. rented rigs.
- Order book stands at ₹1,310 crores as of August 2026, providing visibility for the next few years.
- Three rigs scheduled for dehiring in H2 FY27, requiring 4-6 months of refurbishment each.
- Refurbishment costs estimated between ₹90 crores and ₹110 crores per rig due to inflationary pressures.
- New ONGC contract for Jindal Pioneer rig fixed at a day rate of approximately ₹45.83 lakhs.
- Management expects Jindal Pioneer deployment by October 2026 following refurbishment in UAE.
Jindal Drilling has released the audio recording of its Q1 FY27 earnings conference call held on August 10, 2026. The company reported a TTM revenue of Rs 997 Cr and a PAT of Rs 210 Cr, maintaining a healthy operating margin of 35%. Investors should look for management commentary regarding the deployment of the 'Jindal Pioneer' rig, acquired for ~Rs 620 Cr, and the refurbishment status of 'Jindal Explorer'. The company remains heavily dependent on ONGC, which currently contracts 5 of its offshore rigs.
- Earnings conference call for Q1 FY27 conducted on August 10, 2026
- TTM Revenue as of March 2026 stands at Rs 997 Cr with 35% OPM
- Acquisition of 'Jindal Pioneer' rig previously completed for ~Rs 620 Cr
- Promoter holding remains stable at 66.78% as of March 2026
- Company maintains a low Debt-to-Equity ratio of 0.06
Jindal Drilling reported Q1 FY27 total revenue of Rs 283 Cr, up 7.6% YoY, while PAT stood at Rs 52 Cr compared to Rs 56 Cr in the year-ago period. The company maintains a robust order book of Rs 1,310 Cr, which is approximately 1.3x its TTM revenue, providing visibility through FY30. A key operational update is the 'Jindal Pioneer' rig, currently under refurbishment in the UAE, with deployment scheduled for Q3 FY27. The balance sheet remains strong with a net cash position of Rs 183 Cr, up from Rs 128 Cr in March 2026.
- Total order book stands at Rs 1,310 Cr as of June 30, 2026, with Rs 563 Cr scheduled for the remainder of FY27.
- Q1 FY27 EBITDA margin moderated to 38% from 42% in Q1 FY26, primarily due to higher operational expenses.
- Gross debt reduced to Rs 52 Cr in June 2026 from Rs 69 Cr in March 2026, a 24.6% reduction in one quarter.
- The 'Jindal Pioneer' rig is confirmed for deployment in Q3 FY27 with a contracted day rate of USD 47,681.
- Net cash position improved to Rs 183 Cr, supported by liquid investments of Rs 248 Cr.
Jindal Drilling And Industries Limited has announced September 1, 2026, as the record date for its FY 2025-26 dividend. The company's 42nd Annual General Meeting (AGM) will be held on September 15, 2026, to seek shareholder approval for the payout. If approved, the dividend will be distributed starting September 17, 2026. This follows a fiscal year (FY26) where the company achieved a revenue of ₹996.7 Cr and a PAT of ₹210.24 Cr.
- Record date for determining dividend eligibility is set for September 1, 2026
- 42nd Annual General Meeting to be conducted via video conferencing on September 15, 2026
- Dividend payment is scheduled to commence on or after September 17, 2026
- Company reported a TTM PAT of ₹210 Cr against a market cap of ₹1840 Cr
- Promoter holding stands at 66.8% as of March 2026
Jindal Drilling reported a mixed Q1 FY27 with consolidated revenue growing 8.4% YoY to ₹275.39 Cr, showing steady operational performance. However, consolidated Net Profit declined 28.7% YoY to ₹47.14 Cr, primarily dragged down by a ₹5.28 Cr loss from Joint Ventures compared to a ₹9.66 Cr profit in the same quarter last year. Standalone profit remained relatively stable at ₹52.42 Cr. Operational expenses rose 14.2% YoY to ₹136.24 Cr, reflecting higher costs in the drilling segment.
- 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.
- Operational expenses rose by 14.2% YoY to ₹136.24 Cr.
- Foreign exchange loss widened to ₹3.62 Cr from ₹1.04 Cr in Q1 FY26.
Jindal Drilling has scheduled its Q1 FY27 earnings conference call for August 10, 2026, at 12:00 PM IST. The call, hosted by Antique Stock Broking, follows a fiscal year where the company achieved a TTM revenue of ₹997 Cr and a PAT of ₹210 Cr. Investors will likely look for updates on the 'Jindal Pioneer' rig refurbishment and the impact of global charter rates on upcoming contract renewals with ONGC. The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.06.
- Conference call scheduled for August 10, 2026, at 12:00 noon IST via virtual platform
- Management to discuss Q1 FY27 performance following a TTM revenue of ₹997 Cr
- Company operates a fleet of 5-6 offshore jack-up rigs with high concentration on ONGC contracts
- Focus remains on the deployment of 'Jindal Pioneer', acquired for approximately ₹620 Cr
- Current P/E ratio stands at 8.5, reflecting market valuation against TTM EPS of ₹72.68
Jindal Drilling has secured a 3-year contract from ONGC for its 'Jindal Pioneer' rig at an Effective Day Rate (EDR) of Rs 45.83 lakhs (~USD 47,894). The total contract value is estimated at approximately Rs 502 crore, representing over 50% of the company's TTM revenue of Rs 997 crore. The rig is currently undergoing refurbishment, with operations expected to commence in Q3 FY27. This award provides critical revenue visibility for the asset, which was acquired for ~Rs 620 crore to shift the business model toward owned assets.
- 3-year contract duration with ONGC for the deployment of rig 'Jindal Pioneer'
- Effective Day Rate (EDR) of Rs 45,83,215.16, equivalent to USD 47,893.99
- Estimated total contract value of ~Rs 502 crore over the 36-month period
- Annual revenue contribution estimated at ~Rs 167 crore, or 16.7% of TTM revenue
- Contract commencement scheduled for Q3 FY27 following rig refurbishment
Jindal Drilling And Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Alankit Assignments Limited (the RTA), confirms that physical share certificates received for dematerialization during the quarter ended June 30, 2026, have been processed. This process involves the mutilation and cancellation of physical certificates and updating depository records. This is a routine administrative filing required by SEBI to ensure the integrity of the shareholding system.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirms adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Certificate provided by Registrar and Share Transfer Agent, Alankit Assignments Limited
- Confirms that physical certificates were mutilated and cancelled after due verification
Jindal Drilling And Industries Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is a standard procedure ahead of the declaration of the un-audited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives. It is scheduled to reopen 48 hours after the financial results are officially declared to the exchanges.
- Trading window closure effective from July 1, 2026
- Closure is in relation to un-audited financial results for the quarter ending June 30, 2026
- Window to reopen 48 hours after the declaration of financial results
- Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015
Jindal Drilling and Industries Limited reported a solid financial performance for the fiscal year ended March 31, 2026. Consolidated total income for FY26 increased to ₹612.44 crore from ₹558.42 crore in the previous year. The annual consolidated net profit grew by 12% to ₹121.44 crore, reflecting steady operational execution. The company's Earnings Per Share (EPS) also saw an uptick, rising to ₹41.87 from ₹37.39 in FY25.
- Consolidated Net Profit for FY26 reached ₹121.44 crore, a 12% increase from ₹108.42 crore in FY25.
- Q4 FY26 Consolidated Total Income grew to ₹153.18 crore versus ₹140.77 crore in Q4 FY25.
- Standalone Net Profit for the final quarter stood at ₹27.51 crore, up from ₹23.34 crore YoY.
- Full-year Consolidated Total Income rose to ₹612.44 crore against ₹558.42 crore in the previous fiscal.
- Consolidated EPS for FY26 improved to ₹41.87 from ₹37.39 in the prior year.
Jindal Drilling and Industries Limited has approved its audited financial results for the quarter and year ended March 31, 2026. The Board recommended a dividend of 20%, equivalent to INR 1.00 per equity share of face value INR 5. Furthermore, M/s P L Gupta & Co. has been re-appointed as the Internal Auditor for the 2026-27 financial year. The statutory auditors provided an unmodified opinion on the financial statements, indicating transparency in reporting.
- Recommended a dividend of 20% (INR 1.00 per share) for the financial year 2025-26.
- Approved audited standalone and consolidated financial results for the year ended March 31, 2026.
- Re-appointed M/s P L Gupta & Co., Chartered Accountants, as Internal Auditors for FY 2026-27.
- Statutory auditors Kanodia Sanyal & Associates issued an audit report with an unmodified opinion.
Jindal Drilling And Industries Limited has recommended a final dividend of ₹1.00 per equity share, representing 20% of the face value, for the financial year 2025-26. This decision was made during the Board meeting on May 22, 2026, where the audited financial results for the year were also approved. The dividend payment is contingent upon approval from shareholders at the upcoming Annual General Meeting. Furthermore, the statutory auditors have issued a clean, unmodified opinion on the company's financial statements.
- Recommended a final dividend of 20% (₹1.00 per share) on equity shares of face value ₹5.00.
- Approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026.
- Statutory auditors provided an unmodified opinion on the financial results for the period.
- Re-appointed M/s P L Gupta & Co. as Internal Auditors for the upcoming financial year 2026-27.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 34% YoY to INR 831 Cr in FY25, driven by a 12% increase in rig deployment days and improved blended charter rates. Q1 FY26 revenue grew 40% YoY to INR 254 Cr following the acquisition of the 'Jindal Pioneer' rig.
Geographic Revenue Split
The company primarily operates in the Mumbai Offshore (Bombay High) region for offshore drilling, with onshore operations for mud-logging and directional drilling services across India; specific % split by region is not disclosed.
Profitability Margins
Net Profit Margin was 22.76% in FY25, a slight decline from 24.58% in FY24. Q2 FY26 PAT surged 116% QoQ to INR 121 Cr from INR 56 Cr in Q1 FY26, primarily due to a one-time favorable litigation settlement.
EBITDA Margin
Operating Profit Margin stood at 32.34% in FY25, down 5.11% from 37.46% in FY24. EBITDA for Q2 FY26 decreased 13% to INR 93 Cr from INR 107 Cr in Q1 FY26 due to the 'Jindal Explorer' rig being idle and forex fluctuations.
Capital Expenditure
The company undertook a major capex of ~INR 620 Cr for the acquisition of the 'Jindal Pioneer' rig, funded by adjusting INR 250 Cr in loans to group companies and the remainder through internal accruals.
Credit Rating & Borrowing
CRISIL maintains a 'Stable' outlook with healthy debt protection metrics; interest coverage ratio was 12.58 in FY25. Debt-to-equity remains low at 0.05 as of March 2025.
Operational Drivers
Raw Materials
The business is service-oriented; primary costs include rig refurbishment materials, spare parts for drilling equipment, and fuel/energy for operations, though specific % of total cost per item is not disclosed.
Import Sources
Refurbishment activities for major assets like 'Jindal Pioneer' are conducted in the UAE; specialized drilling components are sourced globally to meet offshore standards.
Key Suppliers
Key suppliers include global oilfield service providers and group companies for rig leasing; specific vendor names for consumables are not disclosed.
Capacity Expansion
Current fleet consists of 5-6 offshore jack-up rigs (including Jindal Pioneer, Jindal Supreme, Virtue-I, and Jindal Explorer). Jindal Pioneer is expected to conclude refurbishment in Q4 FY26.
Raw Material Costs
Operating expenses are impacted by rig maintenance and refurbishment; 'Jindal Explorer' refurbishment and idle time contributed to a margin dip to 39% in recent quarters.
Manufacturing Efficiency
Efficiency is measured by rig deployment days, which grew 12% in FY25. Management targets a 35% operating margin through high operational uptime.
Strategic Growth
Expected Growth Rate
9-10%
Growth Strategy
Growth will be driven by the full-quarter operations of the newly acquired 'Jindal Pioneer' rig and the re-deployment of 'Jindal Explorer' following refurbishment. The company is also focusing on unwinding group company exposures to improve RoCE to 17-18%.
Products & Services
Offshore jack-up drilling services, directional drilling, mud logging, and allied services for oil and gas exploration.
Brand Portfolio
Jindal Drilling, DP Jindal Group.
New Products/Services
Expansion of the owned rig fleet through the acquisition of 'Jindal Pioneer' to reduce reliance on leased assets and improve long-term margins.
Market Expansion
Continued focus on the Mumbai Offshore region with ONGC, while exploring deeper integration into directional drilling and mud logging for onshore sites.
Market Share & Ranking
Leading Indian company in offshore drilling and allied services; specific market share % not disclosed.
Strategic Alliances
Part of the DP Jindal Group, receiving managerial and financial support from Maharashtra Seamless Ltd (MSL) and Jindal Pipes Ltd (JPL).
External Factors
Industry Trends
The industry is seeing a temporary dip in charter rates (USD 40k-50k range) with no major fresh investments in jack-up rigs globally, leading to a tightening supply-demand balance over the long term.
Competitive Landscape
Competes with global offshore drilling contractors; however, domestic preference and established relationships with ONGC provide a competitive edge.
Competitive Moat
Moat is built on a 35-year track record, rigs optimized for Indian conditions, and a 30-year relationship with ONGC, providing high barriers to entry for new domestic players.
Macro Economic Sensitivity
Highly sensitive to global crude oil prices, which dictate the E&P spending of major oil companies and subsequent demand for drilling rigs.
Consumer Behavior
Demand is driven by upstream oil and gas companies' (like ONGC) requirement to maintain production levels to meet national energy security goals.
Geopolitical Risks
Fluctuations in international rig markets and global oil supply chains impact charter rates and refurbishment timelines in the Middle East.
Regulatory & Governance
Industry Regulations
Operations are subject to stringent safety and environmental norms for offshore drilling; compliance with the Companies Act 2013 and SEBI Listing Obligations.
Environmental Compliance
Strategic focus on sustainability and safety to maintain 'contractor of choice' status; specific ESG spend not disclosed.
Taxation Policy Impact
Effective tax rate is applied to profits; specific fiscal policy impacts are not detailed beyond standard corporate tax obligations.
Legal Contingencies
The company recently won a favorable outcome in a long-standing litigation, resulting in a significant PAT boost in Q2 FY26. It previously received INR 160 Cr from ONGC following a Supreme Court interim order regarding a past dispute.
Risk Analysis
Key Uncertainties
Volatility in crude oil prices could lead to a 20-30% fluctuation in charter rates during contract renewals, impacting future revenue visibility.
Geographic Concentration Risk
High concentration in the Mumbai Offshore region, making the company vulnerable to regional operational disruptions.
Third Party Dependencies
Heavy reliance on ONGC for revenue; any change in ONGC's procurement strategy or drilling budget would significantly impact JDIL.
Technology Obsolescence Risk
Risk of rigs becoming technologically outdated compared to newer high-specification international jack-ups; mitigated by regular refurbishments.
Credit & Counterparty Risk
Exposure to group companies via loans (INR 276 Cr in FY24) is a key monitorable, though being reduced through asset acquisitions like 'Jindal Pioneer'.
