South West Pinnacle gains after bagging Rs 167-cr RIL contract

South West Pinnacle Exploration rose 2.80% to Rs 225.86 after the company secured a work order worth approximately Rs 166.82 crore from Reliance Industries (RIL) for providing Coal Bed Methane (CBM) production services in Madhya Pradesh.

The contract has been awarded by a domestic entity and is scheduled to be executed over a tentative period of 15 months, with an option to extend it by an additional six months.

The company said all terms and conditions of the contract are standard in nature. It also clarified that neither its promoter, promoter group, nor group companies have any interest in Reliance Industries.

The company further stated that the contract does not constitute a related-party transaction.

In another filing, the company said it has received a letter of award (LoA) from Central Mine Planning and Design Institute (CMPDI), a Mini Ratna public sector undertaking and a wholly owned subsidiary of Coal India, for providing detailed coal exploration services in Jharkhand.

The order is valued at approximately Rs 5.89 crore, including GST, and is scheduled to be executed within 180 days.

The company said the order is expected to strengthen its order book and contribute to revenue during the current financial year.

South West Pinnacle Exploration (SWPEL) is an integrated service provider offering end-to-end drilling and exploration services for natural resources, including coal, ferrous and non-ferrous minerals, atomic minerals, conventional and non-conventional oil and gas, and groundwater investigations.

The company's consolidated net profit increased 30.63% to Rs 13.05 crore, while revenue rose 5.23% to Rs 77.70 crore in Q4 FY26 from Q4 FY25.

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