Antelopus Selan Energy reports strong FY26 growth, profit hits ₹89.6 crore

Antelopus Selan Energy Ltd reported a net profit of ₹89.61 crore for the fiscal year ended March 31, 2026, a 27% increase from ₹70.57 crore in the previous year. Revenue from operations grew 8% to ₹278.88 crore. The company's profit was boosted by a change in accounting estimates for its oil and gas assets, which cut amortization charges by ₹17.76 crore.

Key Financials for Fiscal Year 2026

For the full fiscal year 2026, Antelopus Selan posted a net profit of ₹8,961 lakh (₹89.61 crore), up from ₹7,057 lakh (₹70.57 crore) in FY2025. Revenue from operations increased to ₹27,888 lakh (₹278.88 crore) from ₹25,808 lakh (₹258.08 crore) in the prior year.

The fourth quarter of FY2026 also showed strong results. Net profit for the quarter was ₹3,808 lakh (₹38.08 crore), up from ₹1,478 lakh in the same period of FY2025. Quarterly revenue reached ₹10,201 lakh (₹102.01 crore), compared to ₹6,315 lakh in Q4 FY2025.

Accounting Change Boosts Profitability

The profit boost stemmed from a revision in the accounting estimate for oil and gas assets. This change lowered amortization expenses by ₹1,776 lakh (₹17.76 crore) for the fiscal year ended March 31, 2026, directly improving the company's bottom line.

Auditor V. Sankar Aiyar & Co. provided an unmodified audit opinion, confirming the accuracy and fairness of the reported figures.

Company Background and Evolution

Antelopus Selan Energy Limited, previously known as Selan Exploration Technology Limited, has been active in India's oil and gas exploration and production (E&P) sector since 1985. It operates several oil and gas fields, primarily in Gujarat.

In 2023, Antelopus Energy Private Limited was amalgamated with Selan Exploration Technology Limited. The company later changed its name to Antelopus Selan Energy Limited in August 2025 to unify its operations and brand.

Implications and Investor Focus

The improved financial results indicate enhanced profitability and revenue growth. While the amortization adjustment boosted current profit, it will affect the asset depreciation profile going forward. Revised prior year figures provide a clearer basis for comparison after the company's amalgamation.

Investors will closely monitor the company's ability to sustain revenue growth amid volatile crude oil prices. Management's commentary on the accounting change's long-term impact and any future asset estimate revisions will be key. The company's future exploration and production strategies and its success in securing new contracts are also important factors.

Market Risks and Competitive Landscape

Profitability is sensitive to international crude oil prices, which are typically denominated in US dollars. Therefore, changes in the USD/INR exchange rate can impact financial results.

Antelopus Selan operates in a sector with large state-owned enterprises and other private E&P firms. Major players like ONGC and Oil India Ltd. have significantly larger market capitalizations. Hindustan Oil Exploration Company Ltd. and Gujarat Natural Resources Ltd. also operate in the E&P space, with market capitalizations closer to Antelopus Selan Energy's.