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Hindustan Oil Exploration Co., Ltd.
(HINDOILEXP)
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Rating:65Neutral
Price Target:
₹199.00
▲(27.08% Upside)
Action:Reiterated
Date:09/13/26
The score is driven primarily by solid underlying financial strength (low leverage and historically strong profitability) but meaningfully reduced by the sharp FY2026 revenue/earnings decline and uneven cash-flow reliability. Technicals are supportive with an established uptrend and positive momentum, while valuation is a major headwind due to the very high P/E.
Positive Factors
Conservative balance sheet
Low leverage and a growing equity base provide financial resilience for an upstream business exposed to cyclical earnings. A conservative capital structure can preserve borrowing capacity and allow the company to fund field development or withstand weaker operating conditions without excessive balance-sheet strain.
Negative Factors
Sharp FY2026 revenue and earnings decline
The steep FY2026 decline demonstrates that recent earnings power is not consistently stable, even after strong prior years. A materially smaller revenue base can reduce funds available for development and make near-term profitability more dependent on a rebound in production, realized prices, or field performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a growing equity base provide financial resilience for an upstream business exposed to cyclical earnings. A conservative capital structure can preserve borrowing capacity and allow the company to fund field development or withstand weaker operating conditions without excessive balance-sheet strain.
Read all positive factors
Hindustan Oil Exploration Co., Ltd. (HINDOILEXP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹24.50B
Dividend Yield0.19%
Average Volume (3M)93.61K
Price to Earnings (P/E)97.5
Beta (1Y)1.06
Revenue Growth-17.80%
EPS Growth-83.17%
CountryIN
Employees112
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)1.90
Shares Outstanding132,243,290
10 Day Avg. Volume221,037
30 Day Avg. Volume93,606
Financial Highlights & Ratios
PEG Ratio-0.45
Price to Book (P/B)1.17
Price to Sales (P/S)6.16
P/FCF Ratio617.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hindustan Oil Exploration Co., Ltd. Business Overview & Revenue Model
Company Description
Hindustan Oil Exploration Company Limited (HOEC) is an Indian enterprise primarily engaged in the discovery, development, and extraction of crude oil and natural gas resources, both onshore and offshore, across India. In addition to its core upstr...
How the Company Makes Money
HINDOILEXP primarily makes money through upstream hydrocarbon production and sales. Its main revenue stream is the sale of crude oil and natural gas produced from fields in which it holds participating interests; revenues are typically determined ...
Hindustan Oil Exploration Co., Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.19B | 2.63B | 4.21B | 7.49B | 5.59B | 1.56B |
| Gross Profit | 972.71M | 824.69M | 1.22B | 2.50B | 2.74B | 345.86M |
| EBITDA | 913.01M | 1.57B | 2.38B | 3.60B | 3.09B | 795.05M |
| Net Income | 251.07M | 627.45M | 1.47B | 2.26B | 1.94B | 199.94M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 21.71B | 19.62B | 19.51B | 18.50B | 15.27B |
| Cash, Cash Equivalents and Short-Term Investments | 549.42M | 549.42M | 2.69B | 141.47M | 1.45B | 294.64M |
| Total Debt | 0.00 | 497.67M | 1.21B | 1.74B | 3.64B | 3.57B |
| Total Liabilities | -13.85B | 7.86B | 6.41B | 7.77B | 9.03B | 7.74B |
| Stockholders Equity | 13.85B | 13.85B | 13.21B | 11.74B | 9.47B | 7.53B |
Cash Flow | ||||||
| Free Cash Flow | -481.43M | 26.25M | 1.28B | 1.04B | 1.48B | -1.58B |
| Operating Cash Flow | -171.95M | 1.78B | 1.61B | 1.23B | 2.19B | 1.08B |
| Investing Cash Flow | 531.18M | -926.78M | -825.87M | -392.05M | -769.89M | -2.80B |
| Financing Cash Flow | -89.39M | -795.54M | -776.85M | -2.15B | -272.29M | 1.06B |
Hindustan Oil Exploration Co., Ltd. Technical Analysis
Positive
156.60
Price Trends
163.24
Positive
163.51
Positive
154.74
Positive
Market Momentum
8.22
Negative
63.65
Neutral
70.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HINDOILEXP, the sentiment is Positive. The current price of 156.6 is below the 20-day moving average (MA) of 169.85, below the 50-day MA of 163.24, and above the 200-day MA of 154.74, indicating a bullish trend. The MACD of 8.22 indicates Negative momentum. The RSI at 63.65 is Neutral, neither overbought nor oversold. The STOCH value of 70.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HINDOILEXP.
Hindustan Oil Exploration Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ₹18.36B | 9.57 | ― | 0.16% | 11.72% | -19.52% | |
77 Outperform | ₹794.19B | 9.54 | ― | 2.36% | 20.37% | 27.31% | |
77 Outperform | ₹40.06B | 30.18 | ― | 3.24% | 46.50% | -14.39% | |
69 Neutral | ₹49.58B | 24.00 | ― | 0.32% | 48.75% | ― | |
66 Neutral | ₹26.00B | 42.37 | ― | 0.19% | 82.01% | 22.46% | |
65 Neutral | ₹24.50B | 97.48 | ― | 0.19% | -17.80% | -83.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:HINDOILEXP
Hindustan Oil Exploration Co., Ltd.
185.25
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8.97%
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Hindustan Oil Exploration Co., Ltd. Corporate Events
HOEC Sets September 25 Virtual AGM, Seeks Higher Borrowing Limit
Sep 2, 2026
Hindustan Oil Exploration Company Limited has scheduled its 42nd Annual General Meeting for September 25, 2026, at 11:00 a.m., to be conducted via video conferencing and other audio-visual means in line with regulatory guidance. The company will c...
Hindustan Oil Exploration Sets September 25 Virtual AGM for Shareholders
Aug 29, 2026
Hindustan Oil Exploration Company Limited has announced that its 42nd Annual General Meeting will be held on September 25, 2026 at 11:00 a.m. via video conferencing and other audio-visual means. This move follows Ministry of Corporate Affairs guid...
HOEC Clarifies PY-1 Offshore Drilling Plan as Brownfield Expansion
Aug 19, 2026
Hindustan Oil Exploration Company Limited has clarified that its proposed drilling programme in the PY-1 offshore gas field in the Cauvery Basin involves additional development wells within an existing, producing block rather than a new exploratio...
Hindustan Oil Exploration files SEBI dematerialisation compliance certificate for June quarter
Jul 13, 2026
Hindustan Oil Exploration Company Limited has submitted to the NSE and BSE a compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026. The certificate, issued by i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.