The shares of a mineral exploration company, involved in drilling coal, minerals, and coal-bed methane, rose 4 percent after its joint venture bagged a Rs 30 crore contract in Oman for copper, gold, and chromite mining.
With a market capitalization of Rs 460 crore, shares of South West Pinnacle Exploration Ltd touched an intraday high of Rs 157.75, rising nearly 4% from the day’s low of Rs 152.10. The stock was last seen trading 1% higher than its previous close of Rs 154.56.
South West Pinnacle Exploration Ltd, in a stock exchange filing dated June 27, 2025, announced that its joint venture company, Alara Resources LLC in Oman, has received an international contract worth around Rs 30 crore (OMR 1.356 million) from Minerals Development Oman.
The two-year project includes diamond drilling up to 40,000 meters and the exploration and mining of copper, gold, and chromite in concession areas 12B and 13 in Oman.
South West Pinnacle Exploration Ltd (SWPE) is a fast-growing Indian company providing exploration and drilling services. Established in 2006, it offers solutions for mineral and coal exploration, CBM (coal-bed methane) drilling, geological surveys, aquifer mapping, and underground drilling.
The company has completed over 29 lakh meters of drilling in India and abroad, with a strong focus on safety. It operates 35 drilling rigs and has a skilled team of geoscientists.
SWPE is also involved in international mining projects, including copper and gold exploration in Oman. Its major clients include Reliance Industries, Vedanta (Hindustan Zinc), Tata Steel, ONGC, Hindalco, and De Beers
The company reported a revenue of Rs 180 crore in FY25, up by 35.33 percent from its FY24 revenue of Rs 133 crore. Coming to its profitability, the company reported a net profit rise of 100 percent to Rs 16 crore in FY25 from Rs 8 crore in FY24. The stock delivered an ROE and ROCE of 11.2 percent and 13.4 percent, respectively.
Written By Rohan Pandey
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