Antelopus Selan Energy delivered strong audited financial performance for FY26, with the Board of Directors approving the results at their meeting held on May 04, 2026. Profit After Tax (PAT) rose 27% to ₹89.61 Cr (₹8,961 Lakhs) from ₹70.57 Cr (₹7,057 Lakhs) in the previous year. Total income for the year grew to ₹287.77 Cr (₹28,777 Lakhs) from ₹267.45 Cr (₹26,745 Lakhs), driven by volume growth despite a challenging pricing environment with average realisation at $66/boe versus $75/boe in FY25. EBITDA increased 14% to ₹167.5 Cr from ₹146.9 Cr, with EBITDA margin expanding to 59%. The statutory auditors, V. Sankar Aiyar & Co., issued an unmodified opinion on these financial results.

Quarterly and Annual Financial Performance

The company's Q4 FY26 performance was particularly strong, with total income reaching ₹10,374 Lakhs against ₹6,496 Lakhs in Q4 FY25, reflecting both volume growth and price recovery from March 2026 onwards. Profit before tax for Q4 FY26 stood at ₹5,049 Lakhs compared to ₹1,933 Lakhs in Q4 FY25. The following table presents the key financial metrics on a quarterly and annual basis:

Operational Performance and Volume Growth

The company achieved significant volume growth during FY26, with average sales increasing to 1,355 boepd from 1,193 boepd in the previous year. The exit rate for March 2026 reached 1,880 boepd, with February and March 2026 monthly sales exceeding 1,800 boepd. Q4 FY26 contributed ₹100 Cr to the topline, benefiting from both volume impact and price recovery from March 2026 onwards. The product mix comprised approximately 82% oil and 18% gas.

Field-wise Performance

Karjisan field demonstrated strong performance with average sales surging 48% to 684 boepd, supported by four new wells drilled during the year. February and March 2026 monthly sales at Karjisan exceeded 1,000 boepd. Bakrol contributed 555 boepd on average, with two of ten wells contributing to FY26 sales from end February 2026 and a third well coming online in mid-April 2026. Cambay's March 2026 gross sales exceeded 200 boepd, driven by production in the western flank where one new well was drilled and shut-in wells were revived through workovers. Dangeru field commenced production from August 2025, contributing 36 boepd on an annualised basis.

Balance Sheet Highlights

The company's balance sheet as at March 31, 2026 reflects significant capital deployment in oil and gas assets. Total assets stood at ₹82,409 Lakhs against ₹67,102 Lakhs in the previous year, driven by increased capital work in progress and oil and gas asset additions. Total equity stood at ₹65,545 Lakhs. Key balance sheet parameters are summarised below:

Cash Flow and Key Auditor Notes

Net cash from operating activities for FY26 stood at ₹12,060 Lakhs compared to ₹12,028 Lakhs in the previous year. Net cash used in investing activities was ₹11,638 Lakhs, primarily on account of purchase of property, plant and equipment including capital work in progress amounting to ₹21,883 Lakhs. Cash and cash equivalents at the end of the year stood at ₹623 Lakhs against ₹285 Lakhs at the beginning of the year. The auditors highlighted that the management revised the amortisation period for oil and gas assets under the Bakrol, Lohar, and Cambay PSCs, extending the estimated useful life by a further 10 years following the enactment of the new Oil Fields (Regulation and Amendment) Act, 2025 and new Petroleum and Natural Gas Rules, 2025. As a result, the amortisation charge was lower by ₹933 Lakhs and ₹1,776 Lakhs for the quarter and year ended March 31, 2026, respectively. The auditors also noted that the Scheme of Amalgamation between the company and Antelopus Energy Private Limited was approved by the NCLT with an appointed date of April 1, 2023, and the previous year figures have been restated accordingly.

Strategic Outlook for FY27

The company has outlined a roadmap to achieve 2,500 boepd in FY27, entirely self-funded. Key initiatives include remaining new wells at Bakrol coming online by H1 FY27, seven new wells under the new Field Development Plan at Karjisan with drilling commencing end FY27, and one new well planned for Cambay in H2 FY27. At Duarmara in Assam, re-perforation is planned to establish commercial oil flow rates, while Dangeru in Andhra Pradesh will focus on frac-led production ramp and evacuation de-bottlenecking. The company has no long-term borrowings as on March 31, 2026, underscoring the self-funded nature of its growth plans.

Antelopus Selan Energy Limited has issued a clarification to BSE Limited regarding recent price movements in its securities, stating that the fluctuations are purely market-driven with no undisclosed material events.

Regulatory Compliance Statement

In response to BSE's inquiry dated April 08, 2026, the company emphasized its commitment to regulatory compliance. Antelopus Selan Energy confirmed that it regularly intimates stock exchanges about material information as required under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Company's Position on Price Movement

The company clarified that currently there are no material events requiring disclosure under SEBI regulations. Management believes that the movement in share prices is purely market-driven rather than resulting from any undisclosed corporate developments or material information.

Corporate Identity

The communication was signed by Yogita, Company Secretary and Compliance Officer (Membership No. 62611), on behalf of Antelopus Selan Energy Limited, formerly known as Selan Exploration Technology Limited. The response demonstrates the company's proactive approach to addressing regulatory inquiries and maintaining transparency with market participants.