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Hindustan Oil Exploration Company (500186) fair value: what the stock is really worth
We calculate from audited financials what Hindustan Oil Exploration Company is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Thin data
Sep 13, 2026
Hindustan Oil Exploration Company
500186 · BSENeutralQuality growthThe stock looks roughly fairly valued with average quality.
·Fair value ₹203.78 · Fairly valued (+10%)
!Quality 59/100
!Mixed Growth (revenue 5y +15.8 %/yr)
✓Highly profitable · 69.1% net margin (TTM)
✓Low debt
✓Wide moat 73/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range ₹97.20 – ₹286.00 · fair‑value band ₹119.56 – ₹345.13 · the ₹185.25 price screens below the ₹203.78 fair value. Dashed = 300-day average. As of Sep 13, 2026.
Company profile
Hindustan Oil Exploration Company Limited engages in the exploration, development, and production of onshore and offshore crude oil and natural gas in India. It holds interests in various oil and gas blocks/fields. The company's oil and gas assets portfolio consist of operated and non-operated acreages in Assam, Cauvery, and Cambay basins.
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Hindustan Oil Exploration Company Limited engages in the exploration, development, and production of onshore and offshore crude oil and natural gas in India. It holds interests in various oil and gas blocks/fields. The company's oil and gas assets portfolio consist of operated and non-operated acreages in Assam, Cauvery, and Cambay basins. As of March 31, 2020, its estimated proved and probable reserves on working interest basis were 26.65 million barrels of oil equivalent. The company, through its subsidiary, Hindage Oilfield Services Limited, focuses on oil field equipment and service sector. Hindustan Oil Exploration Company Limited was incorporated in 1983 and is based in Chennai, India.
Stock analysis
Hindustan Oil Exploration Company (500186) currently trades at ₹185.25, while our model-based Fair Value estimate is ₹203.78, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹456.62 per share, and 10 of the 24 models we run sit above the ₹185.25 price.
Bear case: the Asset-Based group reads lowest at ₹66.94, and 14 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹119.56 (bear) to ₹345.13 (bull), the price of ₹185.25 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hindustan Oil Exploration Company reported revenue of ₹4.2B in FY2025 versus ₹1.1B in FY2021, a compound +38.7%/yr. Reported net income was ₹1.5B in FY2025, compounding +28.8%/yr from FY2021.
Key figures
Market cap ₹8.9B (≈ $93.3M) · P/E ratio 10.3 · P/S ratio 3.61 · EPS (TTM) ₹8.88 · Net margin 35.0% · Return on assets (EBIT) 7.5% · Operating margin 39.8% · Revenue (TTM) ₹1.7B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 57% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 4% fair-value upside, at 10%, 500186 screens cheaper than that median.
Fair Value models
Bear ₹119.56
Fair Value ₹203.78
Bull ₹345.13
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹8.88 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV
₹60.34
₹70.28
₹78.85
74
FCF DCF
₹154.65
₹239.49
₹504.02
73
Growth DCF
₹145.07
₹278.46
₹493.35
72
All 24 models by family
DCF Models
FCF DCF
₹154.65
₹239.49
₹504.02
73
Owner Earnings
₹216.21
₹482.29
₹1,020
68
5Y Revenue Exit
₹63.52
₹93.09
₹153.45
69
5Y EBITDA Exit
₹87.42
₹141.42
₹246.72
70
5Y P/E Exit
₹128.67
₹280.52
₹485.70
65
10Y Revenue Exit
₹90.84
₹159.08
₹189.07
65
10Y EBITDA Exit
₹109.05
₹209.38
₹372.69
63
10Y P/E Exit
₹138.48
₹296.17
₹551.28
58
Earnings-Based
Graham-Dodd
₹75.69
₹527.89
₹740.81
61
Lynch FV
₹272.72
₹389.61
₹506.49
59
PEG = 1.0
₹272.72
₹389.61
₹506.49
55
EPV
₹60.34
₹70.28
₹78.85
74
Multiples
P/E Multiple
₹116.88
₹155.84
₹194.80
63
P/S Multiple
₹28.64
₹38.19
₹47.74
58
P/B Multiple
₹134.88
₹179.84
₹224.80
55
EV/EBIT
₹55.10
₹74.33
₹93.55
66
EV/EBITDA
₹58.44
₹78.78
₹99.12
67
EV/Revenue
₹24.16
₹35.62
₹47.07
53
Asset-Based
NCAV (Graham)
₹49.96
₹66.94
₹99.91
54
Growth DCF
Growth DCF
₹145.07
₹278.46
₹493.35
72
Rev-Margin DCF
₹69.26
₹107.17
₹187.93
68
Economic Profit
Residual Income
₹89.10
₹100.83
₹182.65
66
ROIC Compounder
₹60.34
₹70.28
₹78.85
70
Growth Earnings
Growth-Adj P/E
₹319.63
₹456.62
₹593.60
65
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Set up alert →Quality Score breakdown
Overall quality
59/100
Of which business quality 57 · Market factors (momentum, volatility) 54
Profitability
46
Margins and returns on capital today
Quality Growth
27
Are margins and returns improving?
Cashflow
72
Earnings quality: real cash, not paper profit
Fin. Strength
66
Balance sheet, leverage, solvency risk
Investment
43
Disciplined investing over empire-building
Low Volatility
36
Calm price path (market factor)
Momentum
55
Price trend over the last 3–12 months (market factor)
52W Momentum
72
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−43.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+39.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.8%
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.4%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+1.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.4%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.61% → 24%
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Independent Oil & Gas” was too small, so the broader sector is used.)Energy · 1209 stocks
Beats the sector median on 6/12 measures
A mixed picture versus its sector peers.
Valuation Multiplesvs Energy median · lower = cheaper
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Energy
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Oil & gas
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| Rio Tinto Group RIO | A$168.30 | A$107.29 | −36% |
| Zijin Mining Group 601899 | ¥32.26 | ¥57.62 | +79% |
| Saudi Arabian Mining Company 1211 | 66.00 SAR | 72.60 SAR | +10% |
| CMOC Group 603993 | ¥18.15 | ¥18.88 | +4% |
| Nan Ya Plastics Corporation 1303 | 234.50 TWD | 306.47 TWD | +31% |
| Shandong Hongqiao Aluminum Industry Holding 002379 | ¥18.16 | ¥43.52 | +140% |
| UltraTech Cement Limited ULTRACEMCO | ₹11,000 | ₹4,718 | −57% |
| JSW Steel Limited JSWSTEEL | ₹1,268 | ₹1,095 | −14% |
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Frequently asked questions
Is Hindustan Oil Exploration Company (500186) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of ₹203.78 versus a price of ₹185.25, about +10% upside (undervalued).
What is the fair value of 500186?
Our model-based fair value for Hindustan Oil Exploration Company is ₹203.78 (as of Sep 13, 2026), built from audited fundamentals. The current price: ₹185.25.
What is the quality score of 500186?
Hindustan Oil Exploration Company has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hindustan Oil Exploration Company (500186)?
Our model-based price target is the fair value of ₹203.78 (as of Sep 13, 2026) from 24 valuation models. Cautious scenario ₹119.56, optimistic scenario ₹345.13. It is a calculation from audited fundamentals, not an analyst target.
What is the Hindustan Oil Exploration Company stock forecast for 2026?
Our models put fair value at ₹203.78, about +10% upside versus a price of ₹185.25 (undervalued). Cautious scenario ₹119.56, optimistic scenario ₹345.13. The calculation is refreshed regularly with new filings.
What is the revenue of Hindustan Oil Exploration Company (500186)?
Hindustan Oil Exploration Company reported trailing-twelve-month revenue of about ₹1.7B (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Hindustan Oil Exploration Company (500186)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hindustan Oil Exploration Company it is ₹203.78 per share (as of Sep 13, 2026), against a price of ₹185.25. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Hindustan Oil Exploration Company stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 500186 trades below its calculated fair value: price ₹185.25, fair value ₹203.78, a gap of about +10% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 500186?
No. The price is what the market pays today (₹185.25); the fair value is what the company's own numbers justify (₹203.78). For Hindustan Oil Exploration Company the two are ₹18.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hindustan Oil Exploration Company worth?
The market values Hindustan Oil Exploration Company at about ₹8.9B (market capitalisation, as of Sep 13, 2026). Per share that is ₹185.25; our models calculate a fair value of ₹203.78 per share.
What do the bullish and bearish scenarios say about 500186?
Our models span a range for Hindustan Oil Exploration Company: cautious scenario ₹119.56, base ₹203.78, optimistic ₹345.13 per share (as of Sep 13, 2026, price ₹185.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 500186?
Hindustan Oil Exploration Company trades at a price-to-earnings ratio of 10.3 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹203.78 is built from several models across several years. Other multiples: P/B 0.7, P/S 5.2, EV/EBITDA 9.3.
How solid is the balance sheet of Hindustan Oil Exploration Company (500186)?
Balance-sheet figures for Hindustan Oil Exploration Company (as of Sep 13, 2026): debt of 0.04 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 500186 from its 52-week high?
Hindustan Oil Exploration Company trades at ₹185.25, about 2% below its 52-week high of ₹188.50 and 57% above the low of ₹117.80 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of ₹203.78 is for.
Which stocks are comparable to Hindustan Oil Exploration Company?
From the same area (Basic Materials) we also value Linde plc, BHP Group, Rio Tinto Group, Zijin Mining Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hindustan Oil Exploration Company stock attractive at the current price?
The data as of Sep 13, 2026: price ₹185.25, calculated fair value ₹203.78 (+10%), Quality Score 59/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 500186 calculated?
We run Hindustan Oil Exploration Company through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹203.78, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.8 % above its aggregate fair value. Hindustan Oil Exploration Company currently trades 10 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What should I pay attention to with Hindustan Oil Exploration Company right now?
The model range is unusually wide (₹119.56 to ₹345.13). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Hindustan Oil Exploration Company
How large is the market capitalisation of Hindustan Oil Exploration Company (500186)?
The market capitalisation of Hindustan Oil Exploration Company is ₹8.9B (≈ $93.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hindustan Oil Exploration Company (500186)?
The price-to-sales ratio of Hindustan Oil Exploration Company is 3.61 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hindustan Oil Exploration Company (500186)?
Earnings per share at Hindustan Oil Exploration Company are ₹8.88 (price ÷ EPS = P/E 10.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Hindustan Oil Exploration Company (500186)?
The net margin of Hindustan Oil Exploration Company is 35.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Hindustan Oil Exploration Company (500186)?
On an EBIT basis the return on assets of Hindustan Oil Exploration Company is 7.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hindustan Oil Exploration Company (500186)?
The operating margin of Hindustan Oil Exploration Company is 39.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hindustan Oil Exploration Company (500186)?
Revenue at Hindustan Oil Exploration Company is growing −57.6% versus a year earlier (3y avg +39.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hindustan Oil Exploration Company (500186)?
Earnings per share at Hindustan Oil Exploration Company are growing −62.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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