July 23, 2014 3:53 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Shiv-Vani Oil & Gas Exploration Services Ltd

Company Overview

Shiv-Vani Oil & Gas Exploration Services Ltd, together with its subsidiaries, provides oil and gas exploration, production, and allied services in India and internationally. Its core services comprise seismic data acquisition, processing, and interpretation; deep and directional drilling; workover; pipeline construction; and reservoir data acquisition. The company also offers specialized services, including cementing, stimulation, logging, well testing, directional drilling, mud engineering and logging, and logistics services. In addition, it provides coal bed methane development services; offshore drilling services; and gas compression and allied services. Further, the company is involved i...

Tower No 1, 5th Floor

NBCC Plaza, Sector-V

Pushp Vihar

Saket

New Delhi,  110017

India

Founded in 1989

Phone:

91 11 2956 4592

Fax:

91 11 2956 5082

Key Executives for Shiv-Vani Oil & Gas Exploration Services Ltd

Executive Chairman
Age: 56
Total Annual Compensation: $30.0M
Joint Managing Director
Age: 50
Total Annual Compensation: $24.0M
Vice President of Projects
Total Annual Compensation: $2.7M
Compensation as of Fiscal Year 2013.

Shiv-Vani Oil & Gas Exploration Services Ltd Key Developments

Shiv-Vani Oil & Gas Exploration Services Ltd Adopts Articles of Association

Shiv-Vani Oil & Gas Exploration Services Ltd. announced that at its board meeting held on July 17, 2014, the board members adopted new set of articles of association as per companies act, 2013.

Shiv-Vani Oil & Gas Exploration Services Ltd, Board Meeting, Jul 17, 2014

Shiv-Vani Oil & Gas Exploration Services Ltd, Board Meeting, Jul 17, 2014. Agenda: To conduct Postal Ballot under Section 110 of the Companies Act, 2013; to increase in the authorized share capital; to alter authorized share capital; to Approve, ratify and confirm the Corporate Debt Restructuring Scheme in relation to company's debt; to authorize conversion of debt into equity; to issue equity shares to ICICI Bank Ltd. on preferential basis by conversion of FITL; to issue equity shares to promoters by way of preferential allotment on the stipulation of CDR package; to authorize creating charge as per CDR Scheme; to adopt new set of articles of association as per Companies Act, 2013; and to accept resignation of Capt. Hiteshi Chander Malik, director on the board.

Shiv-Vani Oil & Gas Exploration Services Ltd Reports Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013

Shiv-Vani Oil & Gas Exploration Services Ltd. reported unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2013. For the quarter on consolidated basis, the company reported net sales/income from operations (net of excise duty) of INR 594.250 million against INR 2,716.887 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 905.191 million against profit from operations before other income, finance costs and exceptional items of INR 697.470 million a year ago. Loss from ordinary activities before tax was INR 1,923.138 million against INR 90.909 million a year ago. Net loss from ordinary activities after tax was INR 1,923.138 million against INR 113.116 million a year ago. Diluted loss per share was INR 35.84 against diluted earning per share of INR 5.26 a year ago. For the nine months on consolidated basis, the company reported net sales/income from operations (net of excise duty) of INR 2,918.824 million against INR 9,167.299 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 1,844.581 million against profit from operations before other income, finance costs and exceptional items of INR 2,980.050 million a year ago. Loss from ordinary activities before tax was INR 5,361.026 million against profit from ordinary activities before tax of INR 843.353 million a year ago. Net loss from ordinary activities after tax was INR 5,359.441 million against INR 619.228 million a year ago. Diluted loss per share was INR 99.87 against diluted earning per share of INR 11.54 a year ago. For the quarter on standalone basis, the company reported net sales/income from operations (net of excise duty) of INR 378.997 million against INR 2,367.754 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 604.384 million against profit from operations before other income, finance costs and exceptional items of INR 974.047 million a year ago. Loss from ordinary activities before tax was INR 1,398.259 million against profit from ordinary activities before tax of INR 56.861 million a year ago. Net loss from ordinary activities after tax was INR 1,398.260 million against INR 35.07 million a year ago. Diluted loss per share was INR 26.06 against diluted earning per share of INR 0.66 a year ago. For the nine months on standalone basis, the company reported net sales/income from operations (net of excise duty) of INR 2,093.126 million against INR 8,086.507 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 1,196.582 million against profit from operations before other income, finance costs and exceptional items of INR 3,370.977 million a year ago. Loss from ordinary activities before tax was INR 4,467.847 million against profit from ordinary activities before tax of INR 670.914 million a year ago. Net loss from ordinary activities after tax was INR 4,467.848 million against INR 447.642 million a year ago. Diluted loss per share was INR 83.25 against diluted earning per share of INR 8.34 a year ago.

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