HINDOILEXP

Hindustan Oil Exploration Company Limited

Onshore and offshore oil and gas production contractor

Energy›Oil, Gas & Consumable Fuels›Oil›Oil Exploration & Production

hoec.com(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹166.43
Market cap
2,201 Cr
Stock P/E
87.7
P/B
1.58
ROE (FY26)
4.5%
ROCE (FY26)
4.9%
Operating margin (FY26)
8.3%
Debt / equity (FY26)
0.04
OCF / EBITDA (FY26)
182.8%
OCF / EBITDA (3Y)
82.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

HOEC (Hindustan Oil Exploration Company) produces crude oil and natural gas from fields it holds interests in across India, onshore and offshore.

Company snapshot

5thBy market cap

Ranked among 5 companies in Oil Exploration & Production.

What we see

Positives
  • ✓Net margin of 23.8% — the business keeps a healthy share of every rupee it earns.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales113 Cr179 Cr290 Cr136 Cr95 Cr147 Cr43 Cr79 Cr315 Cr75 Cr-206 Cr114 Cr
Operating expenses (approx.)45 Cr111 Cr217 Cr76 Cr65 Cr75 Cr42 Cr49 Cr295 Cr51 Cr-230 Cr111 Cr
EBITDA68 Cr68 Cr72 Cr60 Cr29 Cr72 Cr1 Cr29 Cr20 Cr24 Cr24 Cr3 Cr
OPM %60.0%38.2%25.0%44.1%30.9%48.9%2.4%37.3%6.3%32.4%-11.5%2.8%
Other income3 Cr10 Cr3 Cr11 Cr5 Cr4 Cr57 Cr3 Cr2 Cr4 Cr7 Cr20 Cr
Interest6 Cr5 Cr4 Cr4 Cr3 Cr3 Cr0.84 Cr2 Cr1 Cr1 Cr1 Cr0.94 Cr
Depreciation18 Cr21 Cr20 Cr18 Cr18 Cr20 Cr22 Cr18 Cr17 Cr20 Cr20 Cr16 Cr
Profit before tax44 Cr51 Cr85 Cr49 Cr13 Cr52 Cr36 Cr45 Cr4 Cr7 Cr9 Cr7 Cr
Tax %2.1%9.4%17.1%13.6%19.4%17.4%-43.8%1.9%28.8%-20.7%13.8%4.8%
Net profit43 Cr47 Cr71 Cr42 Cr11 Cr43 Cr51 Cr44 Cr3 Cr8 Cr8 Cr6 Cr
EPS (₹)₹3.26₹3.52₹5.34₹3.17₹0.82₹3.28₹3.87₹3.32₹0.21₹0.63₹0.59₹0.47

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales26 Cr49 Cr265 Cr202 Cr114 Cr156 Cr559 Cr749 Cr421 Cr263 CrSign in free for the trailing twelve months
Operating expenses (approx.)-5 Cr18 Cr78 Cr78 Cr60 Cr77 Cr254 Cr450 Cr259 Cr166 CrSign in free for the trailing twelve months
EBITDA30 Cr31 Cr187 Cr124 Cr54 Cr79 Cr304 Cr299 Cr162 Cr97 CrSign in free for the trailing twelve months
OPM %118.5%63.0%70.5%61.1%47.5%50.7%54.5%40.0%38.5%37.0%Sign in free for the trailing twelve months
Other income19 Cr12 Cr11 Cr22 Cr11 Cr11 Cr9 Cr19 Cr76 Cr16 CrSign in free for the trailing twelve months
Interest—1 Cr2 Cr5 Cr6 Cr9 Cr30 Cr22 Cr11 Cr6 CrSign in free for the trailing twelve months
Depreciation10 Cr8 Cr44 Cr29 Cr23 Cr26 Cr74 Cr80 Cr78 Cr75 CrSign in free for the trailing twelve months
Profit before tax40 Cr38 Cr157 Cr137 Cr52 Cr20 Cr197 Cr248 Cr150 Cr65 CrSign in free for the trailing twelve months
Tax %9.9%0.0%0.1%-0.2%-3.1%-1.6%1.6%8.8%1.8%2.8%Sign in free for the trailing twelve months
Net profit36 Cr38 Cr157 Cr138 Cr53 Cr20 Cr194 Cr226 Cr147 Cr63 CrSign in free for the trailing twelve months
EPS (₹)₹2.76₹2.88₹12.01₹10.46₹4.04₹1.51₹14.67₹17.12₹11.13₹4.74Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital131 Cr131 Cr131 Cr132 Cr132 Cr132 Cr132 Cr132 Cr132 Cr132 Cr
Reserves211 Cr253 Cr410 Cr547 Cr601 Cr621 Cr815 Cr1,042 Cr1,189 Cr1,252 Cr
Borrowings—0.25 Cr12 Cr45 Cr254 Cr357 Cr364 Cr174 Cr121 Cr50 Cr
Other liabilities183 Cr161 Cr182 Cr311 Cr198 Cr417 Cr539 Cr603 Cr521 Cr736 Cr
Total liabilities525 Cr545 Cr734 Cr1,036 Cr1,185 Cr1,527 Cr1,850 Cr1,951 Cr1,962 Cr2,171 Cr
Fixed assets (net)229 Cr270 Cr369 Cr343 Cr322 Cr498 Cr1,234 Cr1,234 Cr1,177 Cr1,435 Cr
CWIP6 Cr6 Cr26 Cr327 Cr535 Cr759 Cr32 Cr38 Cr48 Cr87 Cr
Investments160 Cr51 Cr124 Cr105 Cr69 Cr22 Cr136 Cr3 Cr3 Cr3 Cr
Inventories25 Cr28 Cr28 Cr27 Cr36 Cr31 Cr81 Cr42 Cr210 Cr394 Cr
Trade receivables5 Cr16 Cr41 Cr36 Cr31 Cr16 Cr117 Cr314 Cr121 Cr30 Cr
Cash & bank28 Cr84 Cr28 Cr71 Cr47 Cr29 Cr30 Cr14 Cr14 Cr20 Cr
Other assets71 Cr89 Cr118 Cr127 Cr146 Cr173 Cr221 Cr306 Cr389 Cr202 Cr
Total assets525 Cr545 Cr734 Cr1,036 Cr1,185 Cr1,527 Cr1,850 Cr1,951 Cr1,962 Cr2,171 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity98 Cr-7 Cr167 Cr316 Cr-77 Cr108 Cr219 Cr123 Cr161 Cr178 Cr
Cash from investing-32 Cr-60 Cr-148 Cr-294 Cr-208 Cr-280 Cr-77 Cr-39 Cr-83 Cr-93 Cr
Cash from financing0 Cr0 Cr0 Cr2 Cr206 Cr109 Cr-27 Cr-215 Cr-78 Cr-80 Cr
Net cash flow67 Cr-67 Cr20 Cr24 Cr-79 Cr-63 Cr115 Cr-132 Cr0.43 Cr6 Cr
Free cash flow (OCF − Capex)49 Cr-64 Cr50 Cr13 Cr-283 Cr-158 Cr148 Cr104 Cr128 Cr3 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.7%10.1%28.7%19.7%5.8%2.6%17.3%20.1%11.1%4.9%
ROE %10.6%9.8%29.0%20.2%7.3%2.7%20.5%19.3%11.1%4.5%
Debtor days73123566699387615310442
Inventory days3522113848115725321182545
Days payable5743002211911689767712451
Cash conversion cycle-1493472-599225397162535
OCF / EBITDA %324.4%-23.4%89.5%255.4%-141.5%136.8%72.0%41.0%99.2%182.8%
OCF / EBITDA % (3 years)——104.2%139.4%111.4%135.2%57.3%65.9%65.6%82.5%
Debt / equity—0.00060.020.070.350.470.380.150.090.04
Current ratio3.494.803.731.251.270.480.861.311.811.10
Net debt / EBITDA-0.94—-0.08-0.213.824.161.100.540.660.31