Indian Oil Corporation Ltd

IOCL is Indias Maharatna national oil company with business interests straddling the entire hydrocarbon value chain from Refining, Pipeline Transportation and Marketing of Petroleum Products to Research & Development, Exploration & Production, Marketing of Natural Gas and Petrochemicals.

Pros:
Stock is providing a good dividend yield of 14.43%.
Company has good consistent profit growth of 38.01% over 5 years
Company has been maintaining a healthy dividend payout of 54.22%
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of -1.81% over past five years.

Peer Comparison Sector: Refineries // Industry: Refineries

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
104,985 89,499 110,051 116,956 128,707 132,357 141,016 126,068
97,067 81,441 95,818 105,539 115,645 125,120 137,461 114,700
Operating Profit 7,918 8,058 14,233 11,418 13,062 7,237 3,556 11,368
OPM % 8% 9% 13% 10% 10% 5% 3% 9%
Other Income 1,753 457 1,633 488 847 1,094 786 1,371
Interest 819 895 785 1,344 1,153 1,351 998 1,386
Depreciation 1,850 1,819 1,861 2,134 1,961 2,074 2,137 2,333
Profit before tax 7,002 5,800 13,220 8,428 10,795 4,905 1,206 9,020
Tax % 32% 34% 36% 33% 34% 32% 36% 33%
Net Profit 4,736 3,806 8,470 5,527 7,176 3,327 965 6,005
Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
201,494 229,848 288,670 250,046 309,797 408,923 461,780 488,345 449,507 346,045 355,379 421,492 528,149
191,665 217,180 281,875 236,613 295,154 389,402 447,887 471,251 438,948 322,584 321,274 379,868 492,926
Operating Profit 9,829 12,669 6,795 13,433 14,643 19,521 13,892 17,094 10,559 23,461 34,105 41,624 35,223
OPM % 5% 6% 2% 5% 5% 5% 3% 4% 2% 7% 10% 10% 7%
Other Income 6,531 4,709 4,325 6,948 3,421 -4,268 3,468 5,192 5,876 3,796 4,399 4,331 4,099
Interest 1,777 1,847 4,282 1,777 3,017 5,948 7,164 5,948 4,201 3,487 3,743 3,841 4,888
Depreciation 2,970 3,042 3,189 3,555 4,933 5,309 5,692 6,360 5,219 5,698 6,806 7,664 8,506
Profit before tax 11,612 12,489 3,649 15,049 10,114 3,995 4,504 9,978 7,014 18,072 27,956 34,450 25,927
Tax % 30% 32% 34% 27% 20% -7% 19% 30% 31% 31% 27% 34%
Net Profit 7,867 7,913 2,599 10,713 7,831 4,226 4,449 7,086 4,912 12,022 19,849 22,189 17,472
EPS in Rs 7.98 8.15 2.56 10.47 7.65 4.13 4.30 6.91 4.71 12.40 19.08 21.43
Dividend Payout % 28% 9% 36% 30% 30% 30% 36% 30% 33% 28% 45% 90%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:6.25%
5 Years:-1.81%
3 Years:-2.12%
TTM:25.30%
Compounded Profit Growth
10 Years:10.54%
5 Years:38.01%
3 Years:80.00%
TTM:-22.48%
Return on Equity
10 Years:14.57%
5 Years:15.07%
3 Years:18.75%
Last Year:20.53%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
1,192 1,192 1,214 2,428 2,428 2,428 2,428 2,428 2,428 2,370 4,739 9,479 9,181
Reserves 35,352 42,427 44,290 50,034 55,147 57,945 60,608 65,485 66,404 87,610 97,357 104,395 103,288
Borrowings 29,481 38,821 47,347 49,472 57,763 80,015 89,671 94,916 64,893 58,552 63,271 65,650 92,712
43,742 44,309 44,481 54,388 70,848 82,883 93,143 103,158 104,966 90,998 120,557 125,213 129,974
Total Liabilities 109,743 126,749 137,310 156,322 186,186 223,271 245,850 265,987 238,692 239,529 285,924 304,737 335,155
37,508 36,868 38,453 45,458 62,681 64,586 66,707 69,724 72,844 95,761 112,031 119,937 137,373
CWIP 4,822 10,103 19,169 22,810 10,866 15,450 27,240 38,061 40,378 26,219 16,778 19,130 23,401
Investments 19,316 20,773 31,324 21,430 18,647 17,588 17,351 15,895 16,069 31,185 43,687 44,806 43,928
48,097 59,006 48,365 66,625 93,992 125,648 134,552 142,307 109,401 86,365 113,427 120,863 130,453
Total Assets 109,743 126,749 137,310 156,322 186,186 223,271 245,850 265,987 238,692 239,529 285,924 304,737 335,155

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-1,176 -8,867 -21,341 -1,609 6,819 -763 9,340 24,195 46,092 25,624 28,216 29,082
6,186 3,483 18,337 3,595 -8,090 -13,056 -9,294 -18,594 -10,215 -13,610 -17,684 -17,119
-4,986 5,367 2,949 -1,392 1,211 13,103 352 -3,116 -38,283 -11,890 -10,937 -11,974
Net Cash Flow 24 -17 -55 593 -61 -716 398 2,485 -2,406 124 -405 -11

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 18% 20% 10% 18% 12% 14% 8% 9% 6% 14% 20% 22%
Debtor Days 9 8 6 8 9 10 10 9 6 8 9 9
Inventory Turnover 6.99 6.94 8.82 7.21 6.46 6.89 7.07 7.01 7.33 7.48 6.56 6.17