South West Pinnacle FY26: Record Revenue ₹2,430 Mn, PAT Doubles, Earnings Call Filed
South West Pinnacle Exploration Ltd announced audited FY26 results with record revenue of ₹2,430 Mn and PAT of ₹330 Mn, doubling YoY. Q4 FY26 revenue stood at ₹777 Mn with PAT of ₹130 Mn. The order book stands at INR 5,812 Mn, led by mineral exploration. An earnings call recording was filed on May 6, 2026.
*this image is generated using AI for illustrative purposes only.
South West Pinnacle Exploration Ltd has announced its audited financial results for the quarter and year ended March 31, 2026, reporting its highest-ever annual revenue and profitability for FY26. The Board of Directors approved the audited standalone and consolidated financial statements at a meeting held on May 4, 2026. In compliance with Regulation 47 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the company submitted the newspaper advertisement for these results, published in "The Financial Express" and "Jansatta" on May 6, 2026. Pursuant to Regulation 30 of the SEBI LODR Regulations, the company also filed an audio recording of its Earnings Call held on May 6, 2026, covering the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The recording has been uploaded on the company's website.
FY26 Financial Performance
South West Pinnacle delivered a strong full-year performance, achieving record revenue and profit metrics. The following table summarises the consolidated annual performance (figures in INR Mn):
| Particulars (INR Mn): | FY26 | FY25 | Y-o-Y |
|---|---|---|---|
| Revenue from Operations: | 2,430 | 1,803 | +34.8% |
| Total Expenses: | 1,847 | 1,467 | +25.9% |
| EBITDA: | 583 | 336 | +73.5% |
| EBITDA Margin (%): | 23.99% | 18.64% | +535 Bps |
| Other Income: | 36 | 48 | -25.0% |
| Depreciation: | 114 | 96 | +18.8% |
| Finance Cost: | 84 | 87 | -3.4% |
| PBT: | 435 | 214 | +103.3% |
| PAT: | 330 | 164 | +101.2% |
| PAT Margin (%): | 13.58% | 9.10% | +448 Bps |
| Diluted EPS (INR): | 10.82 | 5.83 | +85.6% |
The company recorded its highest-ever Profit Before Tax (PBT) and Profit After Tax (PAT) during the year, with growth of 103.3% and 101.2% year-on-year, respectively. Return on Equity (ROE) improved significantly from 10% to 16%, and Return on Capital Employed (ROCE) increased from 16% to 23% during the year.
Q4 FY26 Quarterly Performance
The fourth quarter of FY26 reflected strong momentum in both profitability and operational efficiency. The table below presents the consolidated Q4 performance (figures in INR Mn):
| Particulars (INR Mn): | Q4 FY26 | Q4 FY25 | Y-o-Y | Q3 FY26 | Q-o-Q |
|---|---|---|---|---|---|
| Revenue from Operations: | 777 | 738 | +5.3% | 627 | +23.9% |
| Total Expenses: | 573 | 583 | -1.7% | 450 | +27.3% |
| EBITDA: | 204 | 155 | +31.6% | 177 | +15.3% |
| EBITDA Margin (%): | 26.25% | 21.00% | +525 Bps | 28.23% | -198 Bps |
| Depreciation: | 32 | 22 | +45.5% | 31 | +3.2% |
| Finance Cost: | 21 | 21 | NA | 21 | NA |
| PBT: | 168 | 129 | +30.2% | 126 | +33.3% |
| PAT: | 130 | 100 | +30.0% | 92 | +41.3% |
| PAT Margin (%): | 16.73% | 13.55% | +318 Bps | 14.67% | +206 Bps |
| Diluted EPS (INR): | 4.27 | 3.55 | +20.3% | 3.02 | +41.4% |
The company delivered its highest-ever Q4 PBT and PAT growth of 30.2% and 30.0%, respectively. On a standalone basis, Profit Before Tax for Q4 stood at ₹1,507.14 lakh, while the consolidated figure was ₹1,677.68 lakh.
Order Book and Segment Overview
South West Pinnacle reported a robust order book of INR 5,812 Mn as of March 31, 2026, providing operational continuity even during the monsoon season. The order book mix improved significantly, with over two-thirds of orders from private clients, resulting in stronger cash flows. The segment-wise order book breakdown is as follows:
| Segment: | Order Book Value (INR Mn) |
|---|---|
| Survey and Exploration of Mineral: | 4,373 |
| CBM Production: | 553 |
| Aquifer Mapping: | 576 |
| Seismic Exploration Services (Passive Seismic Tomography): | 72 |
| Seismic & Coal Drilling: | 238 |
| Total: | 5,812 |
The Drilling & Exploration segment remained the sole revenue contributor in FY26, generating consolidated revenue of INR 2,430 Mn.
Historical Stock Returns for South West Pinnacle
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.18% | +1.64% | +14.15% | +31.02% | +72.93% | +583.62% |
With over two-thirds of the order book now from private clients, how might South West Pinnacle's revenue mix and cash flow dynamics evolve if government infrastructure spending accelerates in FY27?
Given the 73.5% EBITDA growth and expanding margins, what capital allocation strategy is the company likely to pursue — reinvestment in new segments, debt reduction, or shareholder returns?
The CBM Production and Aquifer Mapping segments currently contribute to the order book but not to revenue — what timeline and milestones should investors watch for these segments to become active revenue contributors?
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