South West Pinnacle Exploration Limited reported a consolidated net profit of ₹933.60 lakh for the quarter ended June 30, 2026, a significant increase from ₹240.32 lakh in the corresponding period of the previous year. Revenue from operations grew to ₹6,168.21 lakh, compared to ₹4,021.62 lakh in Q1FY25, driven primarily by the drilling and exploration segment. The standalone net profit for the quarter stood at ₹760.08 lakh, up from ₹206.71 lakh in the year-ago period.

Financial Performance

The company's total income for the consolidated quarter reached ₹6,212.19 lakh, up from ₹4,130.81 lakh in the prior year. Total expenses were reported at ₹5,154.47 lakh. Profit before tax for the consolidated entity was ₹1,189.96 lakh, a substantial rise over the ₹310.16 lakh recorded in the first quarter of the previous fiscal year. EBITDA for the quarter came in at ₹1,450 lakh compared to ₹580 lakh in the year-ago period, with EBITDA margin expanding to 23.46% from 14.39%, reflecting improved operational efficiency.

Key Financial Metrics (Consolidated)

The Board of Directors approved the unaudited financial results for the quarter ended June 30, 2026, following a review by the Audit Committee. The results were submitted in compliance with Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015.

Board Appointments and Approvals

In addition to the financial results, the Board approved the re-appointment of several directors. Mr. Vikas Jain was re-appointed as Chairman & Managing Director for a period of three years effective November 20, 2026, subject to shareholder approval. Mr. Piyush Jain was re-appointed as Joint Managing Director for the same duration, also effective November 20, 2026. The Board also approved the re-appointment of Mrs. Meenakshi Anand and Mrs. Shivi Sabharwal as Independent Directors (Non-Executive) for three years effective August 14, 2026. Furthermore, Mr. Rajendra Prasad Ritolia was re-appointed as Non-Executive Director (Non-Independent) for a term of three years effective August 12, 2027. All appointments are subject to approval by the members in the ensuing Annual General Meeting.

Operational and Regulatory Updates

The consolidated financial results include the performance of subsidiaries and joint ventures, such as South West Resources Private Limited, South West Geo Services Private Limited, and Alara Resources LLC. The auditor's report noted that South West Resources Private Limited had fully eroded its net worth due to accumulated losses of ₹273.52 lakh as of June 30, 2026, though it reported a profit of ₹41.36 lakh during the quarter. The financial statements were prepared on a going concern basis based on a letter of financial support from the holding company. The company also announced that it has been notified as an accredited prospecting agency for coal exploration by the Ministry of Coal, with exploration activities completed and the preparation of the definitive Geological Report currently underway, expected to be submitted by the end of July 2026.

South West Pinnacle Exploration Ltd has confirmed that there was no deviation or variation in the utilization of proceeds from the phase-I preferential issue during the quarter ended June 30, 2026. The company stated that the entire proceeds received under this phase were fully utilized by March 31, 2026, strictly adhering to the objects outlined in the Explanatory Statement dated January 02, 2025.

The disclosure was made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123. The utilization complied with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the applicable provisions of the Companies Act, 2013.

As the funds were already deployed by the end of the previous financial year, there was no utilization of the proceeds during the quarter ended June 30, 2026. Therefore, the company noted that the Statement of Deviation or Variation is not applicable for this period.

Utilization Details