Antelopus Selan Energy Ltd

AGM Details

• Date/time/mode: 30 Sep 2026, 11:00 AM, via VC/OAVM.
• Quorum: 60 members attended via VC; proxies not applicable.

Resolutions

• Adoption of Audited Financial Statements for FY ended 31 Mar 2026 — 99.99% in favour; passed unanimously.
• Ratification of Cost Auditor remuneration for FY2026-27; INR 1.50 lakh; 99.99% in favour; passed unanimously.

Auditor details

• Cost Auditor appointed by Board for cost records audit for FY2026-27; remuneration INR 1.50 lakh.

AGM Details

• Date and time: 30 Sep 2026, 11:00 AM.
• Mode: physical with video conferencing facility.
• Venue: 8th Floor, Imperia Mindspace, Gurgaon.
• Cut-off date for voting entitlements: 23 Sep 2026.
• Total shareholders on cut-off date: 34,252.
• Attendance: 60 attendees (2 promoter group, 58 public).

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt Audited Financial Statements for FY ended 31 Mar 2026.
• Result: Passed with 99.9909% in favor, 0.0091% against.
• Resolution 2 (Ordinary): Ratify remuneration of Cost Auditor for FY 2026-27.
• Result: Passed with 99.9896% in favor, 0.0104% against.

Antelopus Selan Energy Ltd trading window closed from Oct 01, 2026 until 48 hours after unaudited results for the quarter and half-year ending Sep 30, 2026.

Cessation of Independent Director

• Manjit Singh ceases to be Independent Director on Aug 9, 2026 after completion of second term.
• He ceases as chair of Audit Committee and Stakeholder Relationship Committee.
• He ceases as member of Nomination and Remuneration Committee and Corporate Social Responsibility Committee.

Revised committee compositions

• Audit Committee: Vishruta Kaul (Chair); Baikuntha Nath Talukdar, Raman Singh Sidhu, Suniti Kumar Bhat (Members).
• Nomination & Remuneration Committee: Raman Singh Sidhu (Chair); Vishruta Kaul, Suniti Kumar Bhat, Baikuntha Nath Talukdar (Members).
• Stakeholder Relationship Committee: Vishruta Kaul (Chair); Raman Singh Sidhu, Baikuntha Nath Talukdar, Siva Kumar Pothepalli (Members).
• Corporate Social Responsibility Committee: Baikuntha Nath Talukdar (Chair); Suniti Kumar Bhat, Raman Singh Sidhu (Members).

Reclassification filing

• Reclassification from promoter group to public category under Regulation 31A.
• Application filed with BSE and NSE on July 31, 2026.
• Shareholder: Payal Upadhyay.

Operational Highlights

• Nine of ten planned FDP wells drilled; drilling ahead of schedule.
• Frac campaign to commence early August; full productivity expected in Q2.
• New wells performing as expected; production in line with plan.
• FDP for seven new wells in final stages of approval.
• All tangibles stocked in Cambay basin to ensure drilling continuity.
• Drilling to commence by end FY27.
• Onshore licenses won: 2 in DSF Bid Round IV; awaiting formal award.
• IOCL custody transfer caused 6,500 boepd crude inventory build-up; normalization expected next quarter.
• Gas monetization via MDPE pipelines in Western/Central areas.

Financial Performance

• Q1 FY27 revenue from operations ₹133.1 Cr; net ₹131.0 Cr after Profit Petroleum.
• Total income ₹132.2 Cr; EBITDA ₹93.2 Cr; PAT ₹54.3 Cr.
• EBITDA margin ~70%; QoQ EBITDA growth ~57%.
• Net profit ₹54.3 Cr in Q1 FY27, up from ₹38.1 Cr in Q4.
• Exceptional items ₹10.0 Cr; current tax ₹9.1 Cr; deferred tax ₹9.3 Cr.
• Cess refund claim ₹6.56 Cr allowed; to be recognized on final order.

Strategic Outlook

• Frac campaign to deliver full productivity in Q2; upside from new wells.
• FDP for seven new wells awaiting final approval.
• Drilling to commence by end FY27.
• Won two onshore licenses in DSF Bid Round IV; awaiting formal award.

Governance & Capital Structure

• Credit rating: IND A / Stable / IND A1; assigned by India Ratings in June 2026.
• Regulatory refund: Commissioner (Appeals) allowed ₹6.56 Cr; to be recognized on receipt.

Promoter to public reclassification

• Board approved Payal Upadhyay's reclassification from Promoter Group to Public, subject to exchange approvals.
• Regulation 31A LODR governs the process; stock exchanges and shareholders' approvals required.
• Outgoing promoter confirms not exceeding 10% holding post-reclassification and won't hold any board seat.
• She also will not be a KMP or have special rights post-reclassification.
• Company to maintain minimum public shareholding and confirm no trading suspension; no dues outstanding.
• Board and CFO/Company Secretary authorized to complete all regulatory filings.
• Resolution date July 27, 2026; meeting held at Gurgaon.

Unaudited Q1 results approved

• Unaudited results for quarter ended 30 June 2026 approved; Limited Review Report enclosed.

Internal auditor appointment

• M/s Soxmate Consultants LLP appointed as Internal Auditor for FY 2026-27.

Amortisation and accounting estimates

• Revised amortisation period for Oil and Gas Assets; lower quarterly amortisation by Rs 1,193 Lakhs.

Exceptional item and impairment

• Exceptional item of Rs 1,000 Lakhs; impairment provision of Rs 1,000 Lakhs for Ello Field.

Cambay Field investment and costs

• Acquired 50% Participating Interest in Cambay Field PSC; capitalised 3,048 Lakhs.
• Carry obligation up to US$10 million; paid 3,168 Lakhs by 30 Jun 2028.
• Exclusivity period; SPA unexecuted; exclusivity fee written off 473 Lakhs.

Regulatory refund and amalgamation

• GST & Central Excise order allows Rs 656 Lakhs refund; 650 Lakhs to P&L; not yet received.
• Share Suspense Account reflects shares pending issuance on amalgamation with Antelopus Energy Limited; record date 5 July 2025.

Oversight and disclosures

• Audit Committee reviewed; Board approved; statutory auditor reviewed.