South West Pinnacle Exploration Ltd's contract extended by RIL

South West Pinnacle Exploration Limited (SWPE) has received the extension of contract from M/s Reliance Industries Ltd. (RIL) for imparting services of CBM Production in the state of Madhya Pradesh.

The aggregate value of extended contract including GST is ~ INR 166.82 Crore.

The awarded work is expected to start fetching revenue from second quarter of FY 2026-27 itself as required machines and equipment with trained manpower and other resources are already in place there and no additional assets are needed to be deployed to execute this contract.

SWPE has successfully completed two projects of RIL in the same domain in the past and is successfully providing CBM Production services under this contract . With the present order win, our order book has made quantum jump surpassing Rs 760 Crore thus giving assured growth visibility over next two to three years.

Commenting on this development, Mr. Vikas Jain, Chairman & Managing Director said, "I am pleased to announce about the extension of contract done by Reliance Industries Ltd. (RIL) for production hole drilling for CBM, valuing over Rs, 166 Crore with 15 months tentative duration and an option of further extension of six months. Bagging such a large contract from a prestigious client is very significant achievement. The best part is that no additional assets are needed to be deployed for execution of contract ", Mr Jain elaborated. " With this, the order book will touch a newer height crossing Rs.760 Crore mark , giving clear visibility to our medium to long term goals", Mr Jain explained. "CBM production is a non-conventional Oil and Gas source of energy and a step towards Atma Nirbhar Bharat to cater our energy needs" he added.

Mr. Piyush Jain, the Jt. Managing director, who was deeply involved into negotiation and finalization of the contract extension, expressed his confidence for successful implementation of the contract and added that" the contract extension shall help in continuing the present operations without a single day loss of operation on account of mobilization of resources etc. and will start fetching revenue for the company from the second quarter of FY 2026-27 itself," . He thanked the entire team of SWPE for their dedication and hard work, a nd also other stakeholders involved in the project.

Shares of South West Pinnacle Exploration Limited was last trading in BSE at Rs. 218.55 as compared to the previous close of Rs. 226.30. The total number of shares traded during the day was 22775 in over 422 trades.

The stock hit an intraday high of Rs. 229.25 and intraday low of 215.35. The net turnover during the day was Rs. 5004842.00.

Source : Equity Bulls

Keywords

SouthWestPinnacleExploration INE980Y01015 SWPE Extension Contract RelianceIndustries RIL