Below is a structured extraction and summary of the relevant and actionable financial information from the Hindustan Oil Exploration Company Limited (HOEC) results filing dated August 14, 2025:

1. Auditor’s Note

• Type: Limited Review Report by Deloitte Haskins & Sells LLP for both Standalone and Consolidated results.
• Qualifications/Concerns:
  • No qualifications or adverse remarks.
  • The auditor states: "Nothing has come to our attention that causes us to believe that the accompanying Statement... contains any material misstatement."
  • Reliance placed on management’s technical/commercial evaluation for well categorization, reserves, impairment, and site restoration liabilities.
  • Interim financials of some unincorporated joint ventures (UJV) and subsidiaries were not reviewed by auditors but considered immaterial or reviewed by other auditors.
• Conclusion: Standard limited review with no qualifications or issues.

2. Financial Performance

Key Financial Figures (₹ in lakhs except EPS)

Margins and Observations

• Standalone Profit before tax margin (excluding exceptional items):

  • Q1 FY26: 19.1% (1,569.26 / 8,197.54)
  • Q4 FY25: 73.2% (13,100.85 / 17,901.90)
  • Q1 FY25: 15.1% (1,262.64 / 8,371.91)

• Consolidated Profit before tax margin (excluding exceptional items):

  • Q1 FY26: 15.0% (1,222.10 / 8,150.66)
  • Q4 FY25: 35.4% (3,557.68 / 10,047.20)
  • Q1 FY25: 33.1% (4,850.39 / 14,675.29)

• Exceptional item of ₹3,251.87 lakhs recognized in Q1 FY26 (both standalone and consolidated) significantly boosts profit before tax.

3. Detailed Notes / Management Commentary

• Accounting Standards: Results prepared as per IND-AS 34 (Interim Financial Reporting).
• Joint Ventures:
  • Eight unincorporated joint ventures consolidated on a proportionate basis.
  • Some JV interim financials not reviewed but considered immaterial.
• Exceptional Item:
  • ₹3,251.87 lakhs exceptional gain in Q1 FY26 relates to provisional fair value gain on remeasurement of previously held 60% Participating Interest (Pl) in Block B-80 after acquiring 40% Pl from Adbhoot Estates Private Limited (AEPL).
  • The acquisition was effective April 1, 2024, with Government of India approval deemed on July 29, 2025.
• Revenue and Expenses Adjustments:
  • Q4 FY25 revenue included adjustments related to Participating Interest assignments in Block B-80 and Kharsang block.
  • Expenses in Q4 FY25 included credits related to day rate adjustments and costs of Participating Interests.
• Segment: Company operates in a single segment - Oil and Gas.
• Tax:
  • No current tax in Q1 FY26 standalone; tax expense in consolidated Q1 FY26 is ₹86.62 lakhs.
  • Previous quarter Q4 FY25 consolidated tax expense was negative due to adjustments.
• Other Comprehensive Income: Small losses related to re-measurement of defined benefit plans consistently across periods.
• EPS:
  • Standalone EPS Q1 FY26 at ₹3.65, up from ₹0.92 in Q1 FY25.
  • Consolidated EPS Q1 FY26 at ₹3.32, slightly up from ₹3.17 in Q1 FY25.
• No changes in accounting policies or material adjustments reported.

4. Segment Information

• The company and group operate in one segment only: Oil and Gas.
• No further segment or geographic breakdown provided.

5. Capex, Projects, and Corporate Activity

• Acquisition:
  • Took over 40% Participating Interest (Pl) of AEPL in Block B-80 effective April 1, 2024, now 100% owned.
  • Assets and liabilities related to this acquisition recognized post Government approval (July 29, 2025).
• Exceptional Gain: ₹3,251.87 lakhs recognized as provisional fair value gain on remeasurement of previously held 60% Pl due to acquisition.
• No explicit mention of capital expenditure plans or ongoing projects in this filing.
• No writedowns, impairments, or provisions other than the exceptional item noted.
• No restructuring or cost-cutting measures disclosed.

6. Standalone vs Consolidated

• Both Standalone and Consolidated financial results are provided and reviewed.
• Consolidated results include subsidiaries:
  • Hindage Oilfield Services Limited (HOSL)
  • Geopetrol International Inc. (GPII)
  • Geopetrol Mauritius Limited (GML)
  • GeoEnpro Petroleum Limited (GeoEnpro)
• Consolidated revenue and profit figures are generally higher due to inclusion of subsidiaries and proportionate consolidation of joint ventures.

Summary for Investment Analysis Team

This summary provides a clear view of HOEC’s recent financial performance, key corporate developments, and auditor’s stance, suitable for investment decision-making and further analysis.