Indian Oil Corporation Ltd

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I O C L Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Indian Oil Corporation Ltd

₹ 137 -0.91%
19 Aug 4:01 p.m.
iocl.com BSE: 530965 NSE: IOC
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

Business Segments
1) Petroleum Products (94% in Q1 FY25 vs 95% in FY22): [1] [2] IOC has a 42% market share in Petroleum Oil and Lubricants with over 60,900 touch points. It owns 11 refineries across India with a total capacity of 80.80 MMTPA (including 10.5 MMTPA of subsidiaries), possessing 31% of the total refining capacity of India. [3] The company (ex-subsidiaries) achieved a crude throughput of 73 MMT in FY24 compared to 68 MMT in FY22. The segment revenue grew by 19% between FY22 and FY24. The refinery capacity utilization was 105% in FY24 vs 97% in FY22. [4]

Website BSE NSE
  • Market Cap ₹ 1,92,826 Cr.
  • Current Price ₹ 137
  • High / Low ₹ 189 / 130
  • Stock P/E 6.77
  • Book Value ₹ 145
  • Dividend Yield 6.04 %
  • ROCE 17.3 %
  • ROE 18.9 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.94 times its book value
  • Stock is providing a good dividend yield of 6.04%.
  • Company has been maintaining a healthy dividend payout of 34.8%

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

Energy Oil, Gas & Consumable Fuels Petroleum Products Refineries & Marketing

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 BSE PSU

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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
197,527 179,740 199,104 197,978 193,236 173,848 193,900 194,967 192,971 178,880 204,424 207,883 262,435
175,363 158,427 183,615 187,543 184,601 170,075 186,783 181,395 180,363 164,296 183,600 187,168 260,489
Operating Profit 22,164 21,313 15,489 10,435 8,635 3,772 7,117 13,572 12,607 14,583 20,824 20,716 1,947
OPM % 11% 12% 8% 5% 4.5% 2.2% 3.7% 7% 7% 8% 10% 10% 0.7%
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 3,914 3,843 3,871 4,077 5,174 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 % 24% 24% 25% 24% 23% -4% 17% 17% 23% 24% 24% 26% -19%
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
EPS in Rs 9.74 9.18 5.71 3.43 1.87 0.13 2.03 5.14 4.03 5.39 8.59 8.06 -1.88
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
437,524 347,176 359,942 424,039 527,701 485,660 378,058 598,149 839,472 774,349 755,950 784,158 853,623
427,348 327,478 328,134 384,311 493,844 466,811 339,964 554,888 817,197 704,912 722,809 715,386 795,553
Operating Profit 10,176 19,698 31,809 39,727 33,857 18,850 38,093 43,262 22,275 69,437 33,141 68,772 58,070
OPM % 2.3% 6% 9% 9% 6% 3.9% 10% 7% 2.6% 9% 4.4% 9% 7%
5,806 5,053 4,201 3,415 3,129 -7,750 4,551 4,334 6,235 4,781 6,802 4,988 4,760
Interest 3,458 3,106 3,465 3,511 4,344 6,028 3,124 4,857 6,953 7,364 8,776 8,011 7,606
Depreciation 4,529 4,819 6,223 7,067 7,514 8,766 9,804 11,006 11,859 14,510 15,284 16,965 17,118
Profit before tax 7,995 16,827 26,321 32,564 25,127 -3,694 29,716 31,733 9,698 52,344 15,882 48,784 38,105
Tax % 34% 33% 27% 34% 33% -136% 27% 24% 15% 24% 18% 25%
5,273 11,242 19,106 21,346 16,894 1,313 21,836 24,184 8,242 39,619 12,962 36,802 28,452
EPS in Rs 3.62 7.72 13.12 14.65 11.96 0.93 15.46 17.13 5.84 28.06 9.18 26.06 20.16
Dividend Payout % 30% 30% 47% 93% 52% 297% 50% 48% 50% 42% 32% 31%
Compounded Sales Growth
10 Years: 8%
5 Years: 16%
3 Years: -2%
TTM: 13%
Compounded Profit Growth
10 Years: 13%
5 Years: 11%
3 Years: 64%
TTM: 97%
Stock Price CAGR
10 Years: 4%
5 Years: 15%
3 Years: 14%
1 Year: -4%
Return on Equity
10 Years: 16%
5 Years: 15%
3 Years: 16%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 2,428 2,370 4,739 9,479 9,414 9,181 9,181 9,181 13,772 13,772 13,772 13,772
Reserves 65,542 85,765 94,989 100,692 99,476 84,588 101,319 122,105 120,986 162,943 164,905 190,773
55,245 52,880 54,820 58,030 86,359 116,545 102,327 119,463 141,550 125,867 144,368 122,603
96,794 79,623 104,794 112,693 119,334 100,962 121,416 137,804 143,828 154,936 157,716 164,735
Total Liabilities 220,009 220,638 259,343 280,895 314,583 311,276 334,243 388,553 420,135 457,518 480,761 491,882
66,251 91,347 107,879 113,927 118,708 133,682 143,400 146,889 165,485 180,867 185,851 191,467
CWIP 36,324 21,025 10,738 14,348 23,599 29,738 33,052 44,446 48,991 59,066 76,214 85,094
Investments 23,899 37,181 47,305 47,488 49,940 39,139 48,619 57,787 57,519 71,088 70,917 70,871
93,534 71,084 93,421 105,131 122,336 108,718 109,172 139,432 148,140 146,497 147,779 144,450
Total Assets 220,009 220,638 259,343 280,895 314,583 311,276 334,243 388,553 420,135 457,518 480,761 491,882

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
44,529 22,944 27,799 26,457 12,422 7,190 48,784 22,791 20,985 68,097 33,286 71,399
-8,648 -12,417 -14,734 -15,779 -20,771 -26,882 -21,058 -20,800 -25,286 -29,702 -29,377 -17,662
-38,374 -10,367 -13,275 -10,678 8,334 20,189 -27,948 -1,595 3,954 -38,294 -4,110 -53,719
Net Cash Flow -2,493 160 -209 1 -15 497 -222 396 -347 101 -201 18
Free Cash Flow 33,778 9,320 14,779 9,661 -8,866 -22,504 28,621 1,122 -9,461 33,498 440 46,093
CFO/OP 460% 132% 109% 84% 53% 48% 138% 69% 95% 113% 109% 118%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 6 8 9 9 11 10 13 11 7 6 9 7
Inventory Days 43 49 80 70 59 56 97 75 55 64 58 61
Days Payable 27 28 39 35 31 22 42 31 23 29 29 29
Cash Conversion Cycle 21 29 50 43 39 43 68 55 38 41 38 39
Working Capital Days -8 -18 -44 -35 -27 -42 -49 -32 -27 -35 -40 -31
ROCE % 7% 14% 20% 22% 16% 7% 16% 16% 6% 20% 7% 17%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Gas Sales
MMT

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Petrochemical Sales
MMT
Pipeline Throughput
MMT
Refinery Capacity Utilization
%
Refinery Throughput
MMT
Total Sales Volume (Petroleum + Gas + Petrochemicals)
MMT
Retail Outlets
count
Lubricant Sales (SERVO)
TMT

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50%
7.84% 8.84% 8.49% 7.79% 7.90% 7.43% 7.39% 7.48% 7.69% 8.57% 9.84% 9.08%
10.70% 9.90% 10.23% 10.04% 10.43% 10.08% 9.97% 10.29% 10.42% 10.00% 9.10% 9.52%
19.60% 19.60% 19.57% 19.57% 19.57% 19.57% 19.57% 19.57% 19.57% 19.57% 19.57% 19.57%
10.36% 10.13% 10.18% 11.07% 10.59% 11.39% 11.57% 11.15% 10.81% 10.34% 9.96% 10.32%
No. of Shareholders 19,72,34020,65,51424,28,56127,29,16527,81,74630,82,71731,89,61430,80,10029,75,61428,15,98027,89,94028,59,833

* 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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