2016-2017 Quarter 1 Announcements

24 June 2016


A step down subsidiary of the Company has received a Firm Letter of Award from ONGC for the deployment of the Drillship Aban Abraham for a firm period of 2 years. The expected revenues from this deployment is estimated at USD 87 Million (equivalent to INR 592 Crores). The deployment is expected to commence during the fourth quarter of calendar year 2016.

10 June 2016


In view of difficult market conditions, redemption of 60 million preference shares falling due on 16th June, 2016 will be delayed.

20 May 2016


There will be an Analyst / Investors call on the financial results for the fourth quarter and year ended 31st March 2016, on May 23, 2016 at 04:00 pm (IST), please click here to view details of the call.

17 May 2016


A notice of termination has been received from PEMEX purporting to exercise its contractual right to terminate the charter for the Jack-up Rig “ DEEP DRILLER 1 ”, belonging to a wholly owned step down subisidiary of our Company effective June 1, 2016, approximately 3 months prior to its original expiry.

13 May 2016

A Meeting of Board of Directors of the Company will be held on Monday, the 23rd May 2016 at the Registered Office of the Company at “ Janpriya Crest ” 113, Pantheon Road, Egmore, Chennai 600 008 to consider and approve the following agenda :

1. Audited quarterly standalone and consolidated financial results for the period ended 31st March 2016.

2. Audited Financial Results for the year ended 31st March 2016.

3. Closure of Register of Members and Share Transfer Book(s) of the Company.

The Board will also consider raising of long term funds through issue of FCCBs, ADRs, GDRs and issue of equity related securities, etc. to Qualified Institutional Buyers, subject to approval of members at the ensuing Annual General Meeting of the Company. This is only a renewal resolution.

Since the Company is publishing Audited financial results for the last quarter, the unaudited quarterly results will not be published.

Further, the trading window will be closed from May 16 2016 to May 23, 2016 (both days inclusive) in connection with the approval of the audited financial results and shall reopen after the expiry of the 48 hours from the time of publication of results.