Antelopus Selan FY26 Results: Net profit up 27% to ₹90 crore
- Net profit rose 27% YoY to ₹8,961.36 lakh for FY26
- Revenue increased 8% to ₹27,887.82 lakh despite 11% drop in oil prices
- Production volumes jumped from ~1,100 boepd to ~1,879 boepd
- No dividend declared; profits reinvested in field development
*this image is generated using AI for illustrative purposes only.
Antelopus Selan Energy reported a 27% year-on-year increase in net profit to ₹8,961.36 lakh for the financial year ended March 31, 2026, driven by operational execution and production growth following its merger with Antelope Energy Private Limited.
The upstream oil and gas company delivered resilient financial performance despite a challenging commodity price environment. Revenue from operations rose 8% to ₹27,887.82 lakh, while EBITDA expanded by 14% to ₹16,749.79 lakh. The results reflect the successful integration of the merged entities and disciplined capital allocation strategies employed throughout the fiscal year.
Operational Execution Drives Growth
Production volumes surged significantly during FY26, with average sales increasing from approximately 1,100 boepd at the start of the year to roughly 1,879 boepd by year-end. This operational uplift was achieved against a backdrop of declining global crude oil prices, which fell 11% year-on-year from USD 75 per barrel to USD 66 per barrel.
Key operational milestones included:
- Commencement of production from the Dangeru Contract Area in the KG basin.
- Completion of four wells at the Karjisan field, doubling production from the asset.
- Initiation of a 10-well drilling campaign at the Bakrol field.
- Expansion of drilling activities across Cambay and Duarmara assets.
Financial Performance Overview
| Metric | FY26 (₹ in lakh) | FY25 (₹ in lakh) | Change |
|---|---|---|---|
| Revenue | 27,887.82 | 25,807.78 | +8% |
| EBITDA | 16,749.79 | 14,690.58 | +14% |
| Net Profit | 8,961.36 | 7,057.45 | +27% |
| Net Worth | 65,544.51 | 56,331.72 | +16% |
The company maintained strict financial discipline, funding all development capital expenditure through internal cash accruals without resorting to debt financing. Finance costs remained minimal at ₹72.93 lakh, compared to ₹75.65 lakh in the previous year.
What the Numbers Show
A key analytical observation is the divergence between revenue growth and profitability expansion. While revenue grew by only 8%, net profit surged by 27%. This outperformance was largely driven by a significant reduction in depreciation and amortization expenses, which fell from ₹5,129.91 lakh in FY25 to ₹4,732.49 lakh in FY26. Management reassessed the useful life of oil and gas assets based on new regulatory frameworks, resulting in a lower amortization charge that directly boosted bottom-line profitability despite headwinds in commodity pricing.
Strategic Outlook and Governance
The Board of Directors decided not to recommend a dividend for FY26, opting instead to reinvest profits into high-potential development opportunities. The company received ISO 14001:2015 certification for its environmental management system and was recognized among India’s Fastest Growing Companies 2026 by TIME.
Looking ahead, management plans to drill the remaining eight wells under the approved 10-well FDP at Bakrol and initiate a seven-well campaign at Karjisan in FY27. The company also aims to address evacuation constraints at Dangeru to unlock further production potential.
Historical Stock Returns for Antelopus Selan Energy
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.54% | +22.52% | +14.69% | +77.86% | +67.83% | +586.38% |
How will the reduction in depreciation and amortization expenses impact Antelopus Selan's long-term cash flow projections and future capital allocation flexibility?
What specific technical or logistical challenges must be overcome to resolve the evacuation constraints at the Dangeru Contract Area, and what is the estimated timeline for unlocking this production potential?
Given the decision to forgo dividends in favor of reinvestment, how does management plan to balance shareholder returns with the capital intensity of the upcoming drilling campaigns at Bakrol and Karjisan?
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