Antelopus Selan holds production target, wins two onshore blocks
Q1 net profit ₹54.3 cr with ₹10 cr impairment; EBITDA up 57% qoq. Two exploration licences await formal award.
— 3 earlier stories on Antelopus Selan Energy Ltd. →What's new
- Flat production at 1,705 boepd after inventory adjustment of 6,500 barrels.
- EBITDA jumped 57% sequentially to ₹93.2 cr; net profit at ₹54.3 cr includes ₹10 cr impairment.
- Two onshore exploration licenses won in DSF Bid Round IV (Cambay, KG basins) pending final award.
- India Ratings assigned first-time IND A/Stable/IND A1 rating in June 2026.
Why this matters
The IND A rating, on zero term debt, lends credibility. Winning two contested blocks expands acreage. But production is flat and full-year guidance remains 2,500 boepd. Execution on drilling and frac will determine if the story shifts gear.
What we're watching
- Drilling progress at Bakrol and Karjisan and the continuous frac campaign starting early August.
- Timing of formal award for the DSF Bid Round IV blocks.
- Whether production can ramp to hit the 2,500 boepd guidance.
The full read
Antelopus Selan's Q1 presentation is more about the pipeline than the quarter. The numbers: ₹131 cr revenue, ₹93.2 cr EBITDA (up 57%), ₹54.3 cr net profit after a ₹10 cr impairment. But production of 1,705 boepd is flat when you strip out the inventory build. Guidance of 2,500 boepd for the full year, implying a sharp ramp, stays unchanged. The new items: two onshore exploration blocks won in the Cambay and KG basins (formal awards pending) and a freshly minted IND A rating. The rating, on a zero-debt balance sheet, is a seal of credibility. The blocks add acreage but no quantified impact yet. The quarter itself is routine. What changes from here is the drill bit. Bakrol, Karjisan, and the frac campaign starting in August. Hit those, and the guidance becomes credible. Miss, and the stock's 31.7x P/E will feel stretched.
Questions answered
- Are the financial results new news?
- No, revenue of ₹131 cr, EBITDA of ₹93.2 cr, and net profit of ₹54.3 cr were already disclosed in the Q1 results. The presentation just repackages them with slides.
- What are the new exploration blocks and where are they?
- The company won two onshore blocks in the DSF Bid Round IV, located in the Cambay and KG basins. Formal award is pending.
- How significant is the IND A rating?
- It's a first-time investment-grade rating from India Ratings, assigned in June 2026. The company has zero outstanding term debt, so the rating provides a benchmark for future borrowings if needed.
- Why is production flat despite the EBITDA jump?
- Production of 1,705 boepd is essentially flat after adjusting for an inventory build-up of roughly 6,500 barrels. The EBITDA gain comes from higher realisations or cost control, not volume growth.
Antelopus Selan Energy Ltd.
Latest quarter · Jun 2026
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Story so far
All notes on ANTELOPUS →- 27 Jul 2026 · 9:07 PM IST Antelopus Selan holds production target, wins two onshore blocks
- 1d ago Antelopus Selan profit surges to ₹54 cr on higher crude, output
- 38d ago Antelopus Selan courts Old Bridge, Helios in Mumbai roadshow
- 49d ago Antelopus Selan lands its first investment-grade rating at IND A