Jindal Drilling & Industries Limited (JDIL) has announced strong financial results, with standalone net profit reaching a record ₹140.84 crore, up from ₹114.09 crore in the previous year. The company's consolidated net profit stood at ₹215.90 crore, compared to ₹51.14 crore previously.

Financial Highlights

• Revenue increased to ₹827.95 crore from ₹617.01 crore
• EBITDA reached an all-time high of ₹293.80 crore
• Operational efficiency remained high at 98.8%
• Zero Lost Time Incidents reported across all rigs

Acquisition of New Jack-up Rig

JDIL acquired the jack-up rig 'Jindal Pioneer' for USD 75.00 million, expanding its fleet and operational capabilities. The company operated multiple drilling rigs and equipment sets throughout the year.

Dividend Announcement

The Board of Directors has recommended a dividend of ₹1.00 per equity share, subject to shareholder approval at the upcoming Annual General Meeting scheduled for August 28.

Operational Performance

JDIL maintained high operational efficiency across its fleet, with an impressive 98.8% uptime. The company operated:

• 4 jack-up rigs for the full year
• 1 rig for 6 months
• 1 rig for 1 month
• An average of 8 directional drilling sets
• 6 mud logging sets

Industry Challenges

Despite the strong performance, JDIL faced headwinds from falling charter hire rates and rising operational costs. However, the company demonstrated resilience through its strong financial position and operational excellence.

Future Outlook

While acknowledging current market challenges, JDIL remains optimistic about the medium to long-term prospects in the Indian drilling market. The company is well-positioned to capitalize on future opportunities, backed by its modern fleet, high operational standards, and strong financial foundation.

Raghav Jindal, Managing Director of JDIL, commented on the results: "Our performance this year reflects the resilience and adaptability of our business model. We have successfully navigated a complex market environment while continuing to deliver value for our stakeholders. The acquisition of 'Jindal Pioneer' strengthens our fleet and positions us well for future growth opportunities."

The 41st Annual General Meeting of Jindal Drilling & Industries Limited is scheduled to be held on August 28, through video conferencing.

Jindal Drilling & Industries Limited , a leading offshore drilling services contractor in India's oil and gas sector, has reported robust financial results for the first quarter. The company's performance showcases significant growth and positive projections for the future.

Q1 Financial Highlights

• EBITDA increased by 23% to ₹107.00 crores from ₹87.00 crores in the previous quarter
• Revenue remained stable at ₹254.00 crores
• Profit After Tax (PAT) grew by 5% to ₹55.00 crores
• Earnings Per Share (EPS) improved from ₹18.00 to ₹19.00 per share

Operational Update

Jindal Drilling currently operates a fleet of six rigs:

• Four rigs are working with Oil and Natural Gas Corporation (ONGC)
• One rig, Jindal Explorer, is undergoing refurbishment for redeployment in October 2025
• One rig is engaged in overseas operations

The company recently acquired Jindal Pioneer for $75.00 million, enhancing its fleet capacity and revenue potential.

Financial Projections

Management has provided optimistic projections for the coming years:

These projections are based on conservative estimates, assuming lower rates for newly acquired rigs.

Market Outlook

• International rig rates are currently between $80,000-90,000 per day
• The company expects improved rates in upcoming ONGC tenders
• ONGC is collaborating with BP until year-end and is expected to announce new drilling plans for 2026

Financial Position

Despite the recent acquisition of Jindal Pioneer, the company maintains a strong financial position with a net cash balance of ₹112.00 crores.

Management Commentary

During the earnings conference call, Mr. Raghav Jindal, Managing Director, expressed optimism about future ONGC tenders and potential international opportunities. The management team emphasized their conservative approach to financial projections and their readiness to capitalize on market opportunities.

Jindal Drilling & Industries Limited continues to demonstrate its strength in the offshore drilling sector, with a focus on operational efficiency and strategic growth. The company's robust financial performance and positive outlook position it well for continued success in the evolving oil and gas market.