South West Pinnacle Exploration Signs ₹307 Crore Exploration Contract; Shares Rise 4.29% 

Mumbai, March 9: South West Pinnacle Exploration Ltd has signed a long-term exploration services contract valued at over ₹307 crore with Hind Metal Exploration Pvt Ltd, a wholly owned subsidiary of Hindustan Zinc Ltd, to undertake mineral exploration activities in Rajasthan. The company disclosed the development to the stock exchanges on March 9, 2026. 

The agreement covers integrated drilling and exploration services as part of mineral resource assessment work in the state. According to the company’s press release, the project will involve a range of technical exploration activities including geological investigation, geophysical studies and drilling operations. 

Management noted that this is the largest contract secured in the company’s history. Following the award of the project, the company stated that its order book has expanded to around ₹700 crore, strengthening long-term project visibility. 

Stock Market Snapshot 

South West Pinnacle Exploration shares responded positively to the contract disclosure during Monday’s trading session so far. 

As of 12:23 pm IST on March 9, 2026, the stock was trading at ₹197.99, up ₹8.14 or 4.29% from the previous close of ₹189.85, according to exchange data. During the session so far, the stock opened at ₹189.99 and climbed to a high of ₹205 so far. 

The market reaction reflects investor interest following the announcement of the sizeable exploration contract and the potential revenue contribution expected from the project over time. At the prevailing price, the company’s market capitalisation stood at approximately ₹590.60 crore. 

Management indicated that revenue from the contract is expected to begin contributing from the first quarter of FY27, subject to project execution schedules. 

Company Background 

South West Pinnacle Exploration Ltd provides drilling and exploration services for natural resource projects across sectors including coal, ferrous and non-ferrous minerals, oil and gas, and groundwater exploration. 

The company carries out exploration using technologies such as surface geological investigation, downhole geophysics, 2D and 3D seismic surveys and passive seismic tomography. Over the past 19 years, it has completed more than 160 projects for both government and private sector clients. 

Apart from domestic operations, the company also has joint venture activities in Oman. Through these partnerships it undertakes mining services as well as exploration and drilling assignments for copper and gold resources. 

Conclusion 

The ₹307 crore exploration contract marks a significant addition to South West Pinnacle Exploration’s project pipeline and strengthens its engagement with companies linked to the Hindustan Zinc group. 

With the order book now approaching ₹700 crore, the project is expected to support the company’s revenue visibility over the medium to long term as exploration activities progress. The development also highlights continued demand for specialised drilling and exploration services in the mineral resource sector. 

Source: 

https://nsearchives.nseindia.com/corporate/SOUTHWEST_09032026082541_Investor_Release-_09_March-2025-signed.pdf