Indian Oil Corporation Ltd

Indian Oil Corporation Ltd

₹ 172 3.00%
22 Apr 10:53 a.m.
About

Indian Oil Corporation Ltd is a Maharatna Company controlled by GOI[1] that has business interests straddling the entire hydrocarbon value chain - from Refining, Pipeline transportation and marketing of Petroleum products to R&D, Exploration & production, marketing of natural gas and petrochemicals. It has the leadership position in the Oil refining & petroleum marketing sector of India.[2]

Key Points

Refining Capacity
The Largest Refining Company in India. The company owns 11 refineries across India with a total capacity of 80.60 MMTPA. It possess 32% of total refining capacity of India.[1]
Two of its refineries in Chennai are owned by its subsidiary Chennai Petroleum Corporation Ltd[2] of which the company owns 52% stake.[3]
Market share of more than 32% share in the domestic refining sector as on June 30, 2022[4]

  • Market Cap 2,42,391 Cr.
  • Current Price 172
  • High / Low 197 / 77.9
  • Stock P/E 5.38
  • Book Value 115
  • Dividend Yield 2.86 %
  • ROCE 6.32 %
  • ROE 6.20 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 49.5%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Refineries Industry: Refineries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
106,202 123,841 118,671 135,410 166,785 177,287 224,249 207,485 204,740 202,994 197,527 179,740 199,104
96,589 110,340 107,544 124,790 156,926 165,660 222,894 205,525 201,147 187,654 175,363 158,427 183,615
Operating Profit 9,614 13,502 11,126 10,621 9,859 11,628 1,356 1,960 3,593 15,340 22,164 21,313 15,489
OPM % 9% 11% 9% 8% 6% 7% 1% 1% 2% 8% 11% 12% 8%
1,278 1,102 564 1,441 1,379 952 687 2,198 1,715 1,638 688 982 1,453
Interest 629 1,073 1,257 986 979 1,607 1,725 1,441 1,953 1,812 1,626 1,846 1,832
Depreciation 2,467 2,579 2,634 2,706 2,779 2,887 2,847 2,962 3,099 2,952 3,152 3,280 4,341
Profit before tax 7,796 10,951 7,798 8,370 7,480 8,085 -2,529 -244 257 12,215 18,074 17,170 10,768
Tax % 37% 20% 24% 24% 22% 26% 21% -12% -75% 18% 24% 24% 25%
4,917 8,781 5,941 6,360 5,861 6,022 -1,993 -272 448 10,059 13,750 12,967 8,063
EPS in Rs 3.48 6.22 4.21 4.50 4.15 4.26 -1.41 -0.19 0.32 7.12 9.74 9.18 5.71
Raw PDF
Upcoming result date: 30 April 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
398,477 447,096 473,210 437,524 347,176 359,942 424,039 527,701 485,660 378,058 598,149 839,472 779,364
380,015 433,289 457,429 427,348 327,478 328,134 384,311 493,844 466,811 339,964 554,888 817,197 705,059
Operating Profit 18,462 13,807 15,781 10,176 19,698 31,809 39,727 33,857 18,850 38,093 43,262 22,275 74,306
OPM % 5% 3% 3% 2% 6% 9% 9% 6% 4% 10% 7% 3% 10%
-4,249 3,521 5,025 5,806 5,053 4,201 3,415 3,129 -7,750 4,551 4,334 6,235 4,762
Interest 5,591 6,479 5,121 3,458 3,106 3,465 3,511 4,344 6,028 3,124 4,857 6,953 7,116
Depreciation 4,868 5,201 5,760 4,529 4,819 6,223 7,067 7,514 8,766 9,804 11,006 11,859 13,725
Profit before tax 3,754 5,648 9,926 7,995 16,827 26,321 32,564 25,127 -3,694 29,716 31,733 9,698 58,227
Tax % -5% 11% 29% 34% 33% 27% 34% 33% 136% 27% 24% 15%
3,955 5,005 7,019 5,273 11,242 19,106 21,346 16,894 1,313 21,836 24,184 8,242 44,840
EPS in Rs 2.71 3.44 4.82 3.62 7.72 13.12 14.65 11.96 0.93 15.46 17.13 5.84 31.75
Dividend Payout % 31% 30% 30% 30% 30% 47% 93% 52% 297% 50% 48% 50%
Compounded Sales Growth
10 Years: 7%
5 Years: 15%
3 Years: 20%
TTM: -4%
Compounded Profit Growth
10 Years: 5%
5 Years: -17%
3 Years: -13%
TTM: 966%
Stock Price CAGR
10 Years: 14%
5 Years: 10%
3 Years: 42%
1 Year: 113%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 15%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 2,428 2,428 2,428 2,428 2,370 4,739 9,479 9,414 9,181 9,181 9,181 13,772 13,772
Reserves 55,449 58,696 63,564 65,542 85,765 94,989 100,692 99,476 84,588 101,319 122,105 120,986 147,970
75,400 80,834 86,218 55,245 52,880 54,820 58,030 86,359 116,545 102,327 119,463 141,550 108,548
76,583 86,195 99,488 96,794 79,623 104,794 112,693 119,334 100,962 121,416 137,804 143,882 164,642
Total Liabilities 209,860 228,153 251,697 220,009 220,638 259,343 280,895 314,583 311,276 334,243 388,553 420,190 434,932
59,847 60,633 62,949 66,251 91,347 107,879 113,927 118,708 133,682 143,400 146,889 165,485 174,703
CWIP 13,688 26,230 33,879 36,324 21,025 10,738 14,348 23,599 29,738 33,052 44,446 48,991 51,404
Investments 18,678 18,671 23,594 23,899 37,181 47,305 47,488 49,940 39,139 48,619 57,787 57,519 62,416
117,647 122,619 131,275 93,534 71,084 93,421 105,131 122,336 108,718 109,172 139,432 148,194 146,409
Total Assets 209,860 228,153 251,697 220,009 220,638 259,343 280,895 314,583 311,276 334,243 388,553 420,190 434,932

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-2,760 11,611 22,050 44,529 22,944 27,799 26,457 12,422 7,190 48,784 22,791 20,985
-12,250 -8,338 -17,837 -8,648 -12,417 -14,734 -15,779 -20,771 -26,882 -21,058 -20,800 -25,286
14,022 -3,076 -2,108 -38,374 -10,367 -13,275 -10,678 8,334 20,189 -27,948 -1,595 3,954
Net Cash Flow -987 196 2,105 -2,493 160 -209 1 -15 497 -222 396 -347

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 9 9 8 6 8 9 9 11 10 13 11 7
Inventory Days 59 54 56 43 49 80 70 59 56 97 75 55
Days Payable 28 27 31 27 28 39 35 31 22 42 31 23
Cash Conversion Cycle 39 36 34 21 29 50 43 39 43 68 55 38
Working Capital Days 37 38 30 6 1 -13 -4 7 6 -4 6 6
ROCE % 14% 9% 9% 7% 14% 20% 22% 16% 7% 16% 16% 6%

Shareholding Pattern

Numbers in percentages

5 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50%
6.70% 7.21% 7.94% 8.36% 8.19% 7.22% 7.01% 6.91% 7.56% 7.84% 8.84% 8.49%
12.37% 4.57% 12.51% 11.32% 11.50% 11.24% 11.54% 11.92% 11.55% 10.70% 9.90% 10.23%
0.11% 0.11% 0.11% 0.11% 0.11% 19.60% 19.60% 19.60% 19.60% 19.60% 19.60% 19.57%
29.31% 36.60% 27.94% 28.71% 28.69% 10.42% 10.34% 10.06% 9.77% 10.36% 10.13% 10.18%
No. of Shareholders 9,40,6519,55,41011,45,47313,35,44314,84,84717,99,11718,17,77518,27,30317,91,34919,72,34020,65,51424,28,561

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Concalls