Indian Oil Corp Ltd
NSE: IOC · Refineries & Marketing · sector
₹130.85NSE close 2026-10-26
Key numbers
Market cap₹1,84,776 cr
Price₹130.85
52w high / low₹189 / ₹125
P/E5.3xSector median 9.7x
P/B0.8xSector median 1.9x
Book value₹155.4
Dividend yield7.42%Sector median 2.19%
ROE16.6%Sector median 16.6%
ROCE15.2%Sector median 14.3%
OPM7.1%Sector median 7.6%
Debt / equity0.60xSector median 0.39x
EV/EBITDA4.5xSector median 9.3x
Interest cover6.7x
Current ratio0.73x
Sales growth 3y-1.8%Sector median -2.3%
Profit growth 3y+62.6%Sector median +6.6%
PEG0.08x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 13 companies in Refineries & Marketing (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹11,551 cr vs borrowings ₹1,31,822 cr (FY26): borrowings are higher by ₹1,20,271 cr.
- Operating profit covered interest 6.7x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 12% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹130.85 on 2026-10-26: -30.8% from the 52-week high, +4.7% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹187.47 · low ₹114.56
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,98,616 | 2,19,522 | 2,21,360 | 2,21,849 | 2,06,447 | 2,36,257 | 2,36,899 | 2,81,933 |
| EBITDA | 4,624 | 8,252 | 15,030 | 13,267 | 16,245 | 22,745 | 24,804 | 4,062 |
| OPM % | 2.3% | 3.8% | 6.8% | 6.0% | 7.9% | 9.6% | 10.5% | 1.4% |
| Other income | 723 | 1,022 | 1,238 | 583 | 644 | 1,160 | 1,775 | 446 |
| Net profit | -170 | 2,115 | 8,124 | 6,814 | 7,818 | 13,007 | 14,458 | -1,631 |
| EPS (₹) | -0.12 | 1.54 | 5.90 | 4.95 | 5.68 | 9.44 | 10.50 | -1.18 |
| Revenue YoY | +3.9% | +7.6% | +7.0% | +27.1% | ||||
| Profit YoY | – | +514.9% | +78.0% | -123.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 7,36,731 | 9,51,410 | 8,81,235 | 8,59,363 | 9,01,453 | 9,61,537 |
| EBITDA | 47,742 | 30,699 | 75,591 | 37,829 | 77,062 | 67,856 |
| Net profit | 25,102 | 9,792 | 41,730 | 13,598 | 42,096 | 33,652 |
| EPS (₹) | 27.34 | 7.11 | 30.30 | 9.87 | 30.57 | 24.44 |
| Revenue growth | +29.1% | -7.4% | -2.5% | +4.9% | +11.6% | |
| Profit growth | -61.0% | +326.2% | -67.4% | +209.6% | +99.3% | |
| Dividend / share (₹) | 10.50 | 2.40 | 8.00 | 7.00 | 10.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -1.8% | +11.6% | +11.6% |
| Net profit | +62.6% | +14.2% | +99.3% |
| EPS | +62.6% | +5.3% | – |
| Share price | – | -10.0% (2y) | -15.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,39,720 | 1,83,416 | 1,86,487 | 2,19,518 |
| Borrowings | – | 1,48,977 | 1,32,628 | 1,52,271 | 1,31,822 |
| Cash & equivalents | – | 12,533 | 13,539 | 13,674 | 11,551 |
| Total assets | – | 4,41,762 | 4,82,362 | 5,06,867 | 5,28,955 |
| Fixed assets | – | 1,76,532 | 1,92,160 | 1,97,162 | 2,04,473 |
| Capital work in progress | – | 47,550 | 57,317 | 73,740 | 82,897 |
| Investments | – | 23,716 | 37,065 | 35,458 | 41,152 |
| Receivables | – | 16,271 | 13,831 | 18,551 | 14,635 |
| Inventory | – | 1,21,108 | 1,21,376 | 1,13,878 | 1,17,133 |
| Payables | – | 54,734 | 59,454 | 60,535 | 57,369 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 24,570 | 29,644 | 71,099 | 34,699 | 76,142 |
| Cash from investing | -21,178 | -28,030 | -31,464 | -31,848 | -22,274 |
| Cash from financing | -2,997 | -1,794 | -39,385 | -3,425 | -52,672 |
| Capex | 22,804 | 32,600 | 37,175 | 34,850 | 28,363 |
| Free cash flow | 1,767 | -2,956 | 33,923 | -151 | 47,779 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 7.0% | 22.8% | 7.3% | 19.2% |
| ROCE % | – | 7.5% | 20.1% | 7.3% | 17.9% |
| Debtor days | – | 6 | 6 | 8 | 6 |
| Inventory days | – | 59 | 69 | 63 | 68 |
| Payable days | – | 27 | 34 | 34 | 33 |
| Cash conversion cycle (days) | – | 38 | 41 | 37 | 41 |
| Working capital days | – | -19 | -24 | -32 | -23 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 51.50% |
| FIIs | 8.61% |
| DIIs | 10.05% |
| of which Mutual funds | 3.16% |
| of which Insurance | 6.74% |
| Government | 19.48% |
| Public (non-institutions) | 10.37% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 51.50% | 51.50% | 51.50% | 51.50% | 51.50% | 51.50% | 51.50% | 51.50% |
| Promoter group | % |
|---|---|
| President of India | 51.50% |
| Oil and Natural Gas Corporation Limited | 14.20% |
| Oil India Limited | 5.16% |
| Public holders above 1% | % |
|---|---|
| Life Insurance Corporation of India | 5.98% |
| Shares Trust | 2.48% |
| ICICI Mutual Funds | 1.04% |
28,36,871 shareholders. Pledged: 0.00% of promoter shares.
Peers in Refineries & Marketing
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| RELIANCE | ₹16,26,396 cr | 21.8x | 1.8x | 8.6% | 11.3% | 16.1% | +6.4% | 0.48% |
| IOC | ₹1,84,776 cr | 5.3x | 0.8x | 16.6% | 15.2% | 7.1% | -1.8% | 7.42% |
| BPCL | ₹1,24,076 cr | 7.2x | 1.2x | 18.9% | 17.2% | 5.2% | -0.7% | 7.68% |
| HINDPETRO | ₹73,080 cr | 43.8x | 1.1x | 2.9% | 1.4% | 1.4% | +0.9% | 4.51% |
| MRPL | ₹32,004 cr | 7.2x | 1.9x | 29.1% | 31.0% | 7.0% | -5.5% | 2.19% |
| CHENNPETRO | ₹22,655 cr | 5.4x | 2.0x | 43.2% | 43.4% | 7.0% | -4.7% | 0.85% |
| SANINFRA | ₹648 cr | 29.0x | 16.8x | 8.2% | 10.0% | 8.1% | -10.1% | – |
| RAJSEC | ₹463 cr | 3.7x | 4.0x | 87.1% | 77.8% | 37.3% | – | – |
| KOTYARK | ₹370 cr | 19.7x | 2.0x | 12.0% | 14.3% | 15.2% | – | 0.09% |
| RESGEN | ₹99 cr | 9.7x | 2.4x | 25.1% | 30.4% | 19.0% | +44.5% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Petroleum Products | ₹8,42,195 cr | 91.5% | ₹61,227 cr | 7.3% |
| Gas | ₹44,512 cr | 4.8% | ₹-255 cr | -0.6% |
| Petrochemicals | ₹28,102 cr | 3.1% | ₹1,015 cr | 3.6% |
| Other Business Activities | ₹5,288 cr | 0.6% | ₹456 cr | 8.6% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-14 | Dividend | Dividend - Rs 1.25 Per Share |
| 2026-03-12 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2025-12-18 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2025-08-08 | Dividend | Dividend - Rs 3 Per Share |
| 2024-07-12 | Dividend | Dividend - Rs 7 Per Share |
| 2023-11-10 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2023-07-28 | Dividend | Dividend - Rs 3 Per Share |
| 2022-08-11 | Dividend | Dividend - Rs 2.40 Per Share |
| 2022-06-30 | Bonus | Bonus 1:2 |
| 2022-02-09 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2021-11-11 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2021-08-05 | Dividend | Dividend - Rs 1.50 Per Share |
| 2021-03-23 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2021-02-09 | Dividend | Interim Dividend - Rs 7.50 Per Share |
| 2020-03-23 | Dividend | Interim Dividend - Rs 4.25 Per Share |
| 2019-08-21 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2019-03-27 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2018-12-21 | Dividend | Interim Dividend - Rs 6.75 Per Share |
| 2018-12-21 | Buyback | Buyback |
| 2018-08-20 | Dividend | Dividend Rs 2 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Petroleum Products: Refining & Marketing of Petroleum products
- Gas: Sale of Gas
- Petrochemical Products: Production & Marketing of Petrochemical products
- Others: E&P, Explosives and Alternate Energy etc
| Sector | Energy |
| Industry | Refineries & Marketing |
| Sub-industry | Refineries & Marketing |
| Symbol | IOC |
| BSE code | 530965 |
| ISIN | INE242A01010 |
| Face value | ₹10.0 |
| Incorporated | 1959-06-30 |
| Website | www.iocl.com |
| Plants (India / abroad) | 792 / 2 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.