Indian Oil Corporation Ltd.

•

iocl.comBSE: 530965NSE: IOC

Market Cap₹ 1,90,990 Cr.

Current Price

High / Low₹ 189 / 130

Stock P/E6.7

Book Value₹ 143

Price to Book0.91

Dividend Yield5.18 %

ROCE18.1 %

ROE19.2 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Petroleum Products: 91.7% • Gas: 5.0% • Petro-chemicals: 3.2%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Operating margins have improved to 7.8% from 2.3%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.93x)
Company has delivered good sales growth of 15.3% CAGR over last 5 years
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsCrude OilRefineries

Part ofNIFTY100 EQL WGT NIFTY DIV OPPS 50 NIFTY NEXT 50 NIFTY 500 NIFTY 100

S.No.	Name
1.	RELIANCE	1281.00	23.20	1733518.21	0.47	23196.00	-24.65	311850.00	25.41	12.17	15.30
2.	IOC	135.25	5.68	190989.75	5.18	-1141.09	-116.76	281933.07	27.08	19.69	1.69
3.	BPCL	303.40	7.68	131630.26	5.77	-1872.70	-127.38	159527.05	23.08	27.09	-2.29
4.	HINDPETRO	349.00	44.43	74261.01	6.95	-12264.67	-398.34	145225.11	21.39	23.10	-11.08
5.	MRPL	184.25	10.28	32291.63	2.17	945.68	449.40	41608.96	98.25	18.12	3.24
6.	CHENNPETRO	1602.95	5.72	23869.75	3.87	1031.35	2671.95	29358.75	57.14	35.15	5.35

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,21,145	2,02,312	2,23,012	2,19,876	2,15,989	1,95,149	2,16,649	2,17,725	2,18,608	2,02,992	2,31,769	2,32,855	2,75,972
	1,98,982	1,80,999	2,07,524	2,09,440	2,07,354	1,91,377	2,09,533	2,04,058	2,06,000	1,88,409	2,10,945	2,10,252	2,79,631
Operating Profit	22,164	21,313	15,489	10,435	8,635	3,772	7,117	13,668	12,607	14,583	20,824	22,604	-3,659
OPM %	10.02%	10.53%	6.95%	4.75%	4.00%	1.93%	3.28%	6.28%	5.77%	7.18%	8.98%	9.71%	-1.33%
	688	982	1,453	1,657	534	2,532	2,561	1,174	613	1,523	1,222	1,630	385
Interest	1,626	1,846	1,832	2,023	1,960	2,414	2,312	2,046	1,973	2,169	1,978	1,849	1,610
Depreciation	3,152	3,280	4,341	3,736	3,756	3,718	3,896	4,009	3,843	3,871	4,077	7,062	3,996
Profit before Tax	18,074	17,170	10,768	6,332	3,453	173	3,470	8,787	7,405	10,066	15,992	15,322	-3,274
Tax %	23.92%	24.48%	25.12%	23.60%	23.45%	-4.15%	17.19%	17.32%	23.18%	24.39%	24.17%	25.75%	18.72%
Net Profit	13,750	12,967	8,063	4,838	2,643	180	2,874	7,265	5,689	7,610	12,126	11,378	-2,661
	9.98	9.42	5.86	3.51	1.92	0.13	2.09	5.28	4.13	5.53	8.81	8.26	-1.93

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,59,942	4,24,039	5,28,982	4,89,305	3,84,763	5,98,149	8,39,472	7,74,349	7,55,950	7,84,158	9,43,588
	3,28,134	3,84,311	4,95,125	4,70,455	3,46,669	5,55,029	8,17,197	7,04,912	7,22,809	7,15,386	8,89,237
Operating Profit	31,809	39,727	33,857	18,850	38,093	43,120	22,275	69,437	33,141	68,772	54,352
OPM %	8.84%	9.37%	6.40%	3.85%	9.90%	7.21%	2.65%	8.97%	4.38%	8.77%	5.76%
	4,201	3,415	3,129	-7,750	5,378	4,475	6,235	4,781	6,802	4,988	4,760
Interest	3,465	3,511	4,344	6,028	3,951	4,857	6,953	7,364	8,776	8,011	7,606
Depreciation	6,223	7,067	7,514	8,766	9,804	11,006	11,859	14,510	15,284	16,965	19,007
Profit before Tax	26,321	32,564	25,127	-3,694	29,716	31,733	9,698	52,344	15,882	48,784	38,105
Tax %	27.41%	34.45%	32.76%	135.55%	26.52%	23.79%	15.02%	24.31%	18.39%	24.56%	25.33%
Net Profit	19,106	21,346	16,894	1,313	21,836	24,184	8,242	39,619	12,962	36,802	28,452
EPS	20.16	22.52	18.40	1.43	23.78	26.34	5.98	28.77	9.41	26.72	—
Dividend Payout %	47.13%	93.25%	50.27%	297.12%	50.45%	47.83%	50.13%	41.71%	31.87%	26.19%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 15%
3 Years:: -2%

COMPOUNDED PROFIT GROWTH

10 Years:: 13%
5 Years:: 11%
3 Years:: 65%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: 12%
3 Years:: 12%
1 Year:: -4%

RETURN ON EQUITY

10 Years:: 16%
5 Years:: 16%
3 Years:: 17%
Last Year:: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4,739	9,479	9,181	9,181	9,181	9,181	13,772	13,772	13,772	13,772
	94,989	1,00,692	99,476	84,588	1,01,319	1,22,105	1,20,986	1,62,943	1,64,905	1,90,773
	52,490	59,142	85,864	1,17,311	1,04,237	1,16,153	1,38,933	1,17,123	1,39,569	1,13,964
Trade Payables	30,134	32,921	37,383	25,224	33,591	42,485	48,676	51,501	52,368	51,417
	93,453	98,586	1,02,283	93,760	1,08,636	1,09,864	1,10,023	1,30,084	1,23,451	1,45,745
Total Liabilities	2,75,805	3,00,820	3,34,187	3,30,064	3,56,964	3,99,788	4,32,390	4,75,423	4,94,065	5,15,670
	1,07,879	1,13,927	1,18,708	1,33,682	1,43,400	1,46,889	1,65,485	1,80,867	1,85,851	1,91,467
Capital Work in Progress	10,223	13,660	22,161	28,134	31,601	42,765	47,201	57,024	73,453	82,578
	47,305	47,488	49,940	39,139	48,619	57,787	57,519	71,088	70,917	70,871
	62,241	65,313	71,470	63,678	78,188	1,03,207	1,13,853	1,12,507	1,05,612	1,07,484
	0	0	15,458	12,844	13,380	18,137	15,667	12,779	17,813	14,229
Cash & Bank	86	83	88	589	1,668	883	773	830	516	522
	48,071	60,347	56,363	51,998	40,108	30,121	31,891	40,327	39,903	48,519
Total Assets	2,75,805	3,00,820	3,34,187	3,30,064	3,56,964	3,99,788	4,32,390	4,75,423	4,94,065	5,15,670

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	34,525	33,338	12,422	7,190	48,784	22,791	20,985	68,097	33,286	71,399
Cash from Investing	-14,734	-15,779	-20,771	-26,882	-21,058	-20,800	-25,286	-29,702	-29,377	-17,662
Cash from Financing	-13,275	-10,678	8,334	20,189	-27,948	-1,595	3,954	-38,294	-4,110	-53,719
	-209	1	-15	497	-222	396	-347	101	-201	18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
51.51	51.50	51.51	51.50	51.50	51.50	51.51	51.50	51.50
7.79	7.90	7.43	7.39	7.48	7.69	8.57	9.84	9.08
10.04	10.43	10.08	9.97	10.29	10.42	10.00	9.10	9.52
19.47	19.47	19.47	19.47	19.47	19.47	19.47	19.47	19.47
11.09	10.60	11.41	11.57	11.15	10.80	10.34	9.97	10.32

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Amendment to AOA/MOA

2026-09-01 - Indian Oil Corporation Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-09-01

Shareholders meeting

2026-09-01 - Indian Oil Corporation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-01

Updates

2026-09-01 - Indian Oil Corporation Limited has informed the Exchange regarding 'Change in Senior Management Personnel'.

2026-08-31

Shareholders meeting

2026-08-31 - Indian Oil Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026

2026-08-26

Updates

2026-08-26 - Indian Oil Corporation Limited has informed the Exchange regarding 'impostion of fine by BSE Ltd. & National Stock Exchange of India Ltd.'.

2026-08-15

Change in Director(s)

2026-08-15 - Indian Oil Corporation Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Indian Oil Corporation Limited has informed the Exchange about Copy of Newspaper Publication regarding Public Notice of AGM 2025-26.

2026-08-07

Shareholders meeting

2026-08-07 - Indian Oil Corporation Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 31, 2026

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Indian Oil Corporation Limited has informed the Exchange about Transcript

News

Recent coverage and analyst commentary for IOC

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Indian Oil Corporation Ltd.

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Free 5nance Account

Name

RELIANCE

1281.00

23.20

1733518.21

0.47

23196.00

-24.65

311850.00

25.41

12.17

15.30

IOC

135.25

5.68

190989.75

5.18

-1141.09

-116.76

281933.07

27.08

19.69

1.69

BPCL

303.40

7.68

131630.26

5.77

-1872.70

-127.38

159527.05

23.08

27.09

-2.29

HINDPETRO

349.00

44.43

74261.01

6.95

-12264.67

-398.34

145225.11

21.39

23.10

-11.08

MRPL

184.25

10.28

32291.63

2.17

945.68

449.40

41608.96

98.25

18.12

3.24

CHENNPETRO

1602.95

5.72

23869.75

3.87

1031.35

2671.95

29358.75

57.14

35.15

5.35

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

2,21,145

2,02,312

2,23,012

2,19,876

2,15,989

1,95,149

2,16,649

2,17,725

2,18,608

2,02,992

2,31,769

2,32,855

2,75,972

1,98,982

1,80,999

2,07,524

2,09,440

2,07,354

1,91,377

2,09,533

2,04,058

2,06,000

1,88,409

2,10,945

2,10,252

2,79,631

Operating Profit

22,164

21,313

15,489

10,435

8,635

3,772

7,117

13,668

12,607

14,583

20,824

22,604

-3,659

OPM %

10.02%

10.53%

6.95%

4.75%

4.00%

1.93%

3.28%

6.28%

5.77%

7.18%

8.98%

9.71%

-1.33%

688

982

1,453

1,657

534

2,532

2,561

1,174

613

1,523

1,222

1,630

385

Interest

1,626

1,846

1,832

2,023

1,960

2,414

2,312

2,046

1,973

2,169

1,978

1,849

1,610

Depreciation

3,152

3,280

4,341

3,736

3,756

3,718

3,896

4,009

3,843

3,871

4,077

7,062

3,996

Profit before Tax

18,074

17,170

10,768

6,332

3,453

173

3,470

8,787

7,405

10,066

15,992

15,322

-3,274

Tax %

23.92%

24.48%

25.12%

23.60%

23.45%

-4.15%

17.19%

17.32%

23.18%

24.39%

24.17%

25.75%

18.72%

Net Profit

13,750

12,967

8,063

4,838

2,643

180

2,874

7,265

5,689

7,610

12,126

11,378

-2,661

9.98

9.42

5.86

3.51

1.92

0.13

2.09

5.28

4.13

5.53

8.81

8.26

-1.93

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

3,59,942

4,24,039

5,28,982

4,89,305

3,84,763

5,98,149

8,39,472

7,74,349

7,55,950

7,84,158

9,43,588

3,28,134

3,84,311

4,95,125

4,70,455

3,46,669

5,55,029

8,17,197

7,04,912

7,22,809

7,15,386

8,89,237

Operating Profit

31,809

39,727

33,857

18,850

38,093

43,120

22,275

69,437

33,141

68,772

54,352

OPM %

8.84%

9.37%

6.40%

3.85%

9.90%

7.21%

2.65%

8.97%

4.38%

8.77%

5.76%

4,201

3,415

3,129

-7,750

5,378

4,475

6,235

4,781

6,802

4,988

4,760

Interest

3,465

3,511

4,344

6,028

3,951

4,857

6,953

7,364

8,776

8,011

7,606

Depreciation

6,223

7,067

7,514

8,766

9,804

11,006

11,859

14,510

15,284

16,965

19,007

Profit before Tax

26,321

32,564

25,127

-3,694

29,716

31,733

9,698

52,344

15,882

48,784

38,105

Tax %

27.41%

34.45%

32.76%

135.55%

26.52%

23.79%

15.02%

24.31%

18.39%

24.56%

25.33%

Net Profit

19,106

21,346

16,894

1,313

21,836

24,184

8,242

39,619

12,962

36,802

28,452

EPS

20.16

22.52

18.40

1.43

23.78

26.34

5.98

28.77

9.41

26.72

—

Dividend Payout %

47.13%

93.25%

50.27%

297.12%

50.45%

47.83%

50.13%

41.71%

31.87%

26.19%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

4,739

9,479

9,181

13,772

94,989

1,00,692

99,476

84,588

1,01,319

1,22,105

1,20,986

1,62,943

1,64,905

1,90,773

52,490

59,142

85,864

1,17,311

1,04,237

1,16,153

1,38,933

1,17,123

1,39,569

1,13,964

Trade Payables

30,134

32,921

37,383

25,224

33,591

42,485

48,676

51,501

52,368

51,417

93,453

98,586

1,02,283

93,760

1,08,636

1,09,864

1,10,023

1,30,084

1,23,451

1,45,745

Total Liabilities

2,75,805

3,00,820

3,34,187

3,30,064

3,56,964

3,99,788

4,32,390

4,75,423

4,94,065

5,15,670

1,07,879

1,13,927

1,18,708

1,33,682

1,43,400

1,46,889

1,65,485

1,80,867

1,85,851

1,91,467

Capital Work in Progress

10,223

13,660

22,161

28,134

31,601

42,765

47,201

57,024

73,453

82,578

47,305

47,488

49,940

39,139

48,619

57,787

57,519

71,088

70,917

70,871

62,241

65,313

71,470

63,678

78,188

1,03,207

1,13,853

1,12,507

1,05,612

1,07,484

15,458

12,844

13,380

18,137

15,667

12,779

17,813

14,229

Cash & Bank

589

1,668

883

773

830

516

522

48,071

60,347

56,363

51,998

40,108

30,121

31,891

40,327

39,903

48,519

Total Assets

2,75,805

3,00,820

3,34,187

3,30,064

3,56,964

3,99,788

4,32,390

4,75,423

4,94,065

5,15,670

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

34,525

33,338

12,422

7,190

48,784

22,791

20,985

68,097

33,286

71,399

Cash from Investing

-14,734

-15,779

-20,771

-26,882

-21,058

-20,800

-25,286

-29,702

-29,377

-17,662

Cash from Financing

-13,275

-10,678

8,334

20,189

-27,948

-1,595

3,954

-38,294

-4,110

-53,719

-209

-15

497

-222

396

-347

101

-201

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

51.51

51.50

51.51

51.50

51.51

51.50

7.79

7.90

7.43

7.39

7.48

7.69

8.57

9.84

9.08

10.04

10.43

10.08

9.97

10.29

10.42

10.00

9.10

9.52

19.47

11.09

10.60

11.41

11.57

11.15

10.80

10.34

9.97

10.32

Indian Oil Corporation Ltd.

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Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Indian Oil Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI