Jindal Drilling Secures Strong ₹1,369 Crore Order Book Driven by Long-Term ONGC Deals

Jindal Drilling & Industries Ltd has added new long-term contracts with Oil and Natural Gas Corporation (ONGC), taking its total order book to ₹1,369 crore. The company said these contracts are expected to keep its offshore drilling operations active over the next few quarters.

Operational Details

At present, Jindal Drilling is operating four offshore rigs. One additional rig is undergoing refurbishment in the United Arab Emirates. 

The refurbishment work is being carried out to prepare the asset for deployment in upcoming projects. The company continues to maintain utilisation across its active rigs.

Jindal Drilling Q2FY26 Earnings Results

In the second quarter of FY25, Jindal Drilling reported total revenue of ₹347 crore, compared with ₹183 crore in the same quarter last year, marking an increase of 89.6%. EBITDA rose to ₹93 crore from ₹31 crore. The EBITDA margin stood at 39%, up from 18% a year ago.

Net profit for the quarter was ₹121 crore, compared to ₹16 crore in the same period last year. Earnings per share (EPS) rose to ₹42 from ₹5, showing higher profitability. The improvement in margins and earnings was supported by increased activity levels and ongoing projects.

Key Developments

The company’s current engagement with ONGC continues to provide consistent contract work in the offshore drilling segment. The refurbishment of rigs in the UAE and existing operations in Indian waters indicate sustained deployment of assets.

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Jindal Drilling & Industries Share Price Performance 

As of November 6, 2025, 10:13 AM, Jindal Drilling & Industries share price was trading at ₹586.05, a 0.29% increase from the previous close.

Conclusion

Jindal Drilling reported higher revenue, profit, and margins for the quarter, along with a stronger order book. The company’s current projects and ongoing contracts suggest continued operational activity in the offshore drilling business.

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