Indian Oil Corporation Ltd

Indian Oil Corporation Ltd

₹ 166 -0.19%
24 Jun - close price
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 2,34,836 Cr.
  • Current Price 166
  • High / Low 197 / 85.5
  • Stock P/E 5.63
  • Book Value 130
  • Dividend Yield 7.22 %
  • ROCE 21.2 %
  • ROE 25.8 %
  • Face Value 10.0

Pros

  • Stock is providing a good dividend yield of 7.22%.
  • Company has delivered good profit growth of 19.3% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 43.0%

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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
119,874 115,503 133,195 165,335 175,292 223,411 208,757 205,715 203,872 198,551 179,246 199,906 198,650
105,534 104,004 122,006 154,565 161,019 217,996 205,477 201,411 186,236 174,834 155,917 183,330 186,679
Operating Profit 14,340 11,499 11,189 10,770 14,273 5,415 3,280 4,304 17,637 23,716 23,328 16,576 11,970
OPM % 12% 10% 8% 7% 8% 2% 2% 2% 9% 12% 13% 8% 6%
1,280 846 1,288 1,477 717 994 1,031 1,731 1,368 954 829 1,916 1,690
Interest 1,203 1,383 1,114 1,119 1,806 1,908 1,554 2,122 1,957 1,743 2,135 1,800 2,147
Depreciation 2,949 2,931 3,012 3,112 3,292 3,158 3,283 3,451 3,288 3,476 3,610 4,686 4,094
Profit before tax 11,469 8,030 8,351 8,016 9,891 1,344 -527 462 13,759 19,450 18,413 12,005 7,420
Tax % 20% 24% 25% 22% 28% 34% -73% -93% 21% 24% 26% 23% 26%
9,145 6,141 6,235 6,261 7,089 883 -910 890 10,841 14,735 13,713 9,225 5,488
EPS in Rs 6.39 4.33 4.39 4.35 4.71 -0.20 -0.70 0.55 7.29 10.22 9.29 6.39 3.65
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
461,780 488,345 449,507 346,045 355,379 421,492 528,158 483,763 363,950 589,321 841,756 776,352
447,919 471,123 438,932 324,007 321,230 379,834 492,896 467,710 324,021 541,563 811,010 700,761
Operating Profit 13,861 17,222 10,575 22,038 34,149 41,658 35,262 16,053 39,929 47,758 30,745 75,591
OPM % 3% 4% 2% 6% 10% 10% 7% 3% 11% 8% 4% 10%
3,499 5,064 5,860 5,219 4,356 4,331 4,097 -7,165 4,696 4,332 5,061 5,389
Interest 7,164 5,948 4,201 3,487 3,743 3,875 4,925 5,792 2,933 5,454 7,588 7,826
Depreciation 5,692 6,360 5,219 5,698 6,806 7,664 8,506 10,273 10,941 12,348 13,181 15,866
Profit before tax 4,504 9,978 7,014 18,072 27,956 34,450 25,927 -7,177 30,751 34,289 15,038 57,288
Tax % 19% 30% 31% 31% 27% 34% 33% 74% 29% 25% 22% 25%
3,627 6,967 4,872 12,413 20,385 22,626 17,274 -1,876 21,762 25,727 11,704 43,161
EPS in Rs 3.05 4.86 3.37 8.25 13.63 15.23 12.31 -0.63 15.32 17.78 6.93 29.55
Dividend Payout % 36% 30% 33% 28% 45% 90% 49% -437% 51% 46% 42% 41%
Compounded Sales Growth
10 Years: 5%
5 Years: 8%
3 Years: 29%
TTM: -8%
Compounded Profit Growth
10 Years: 22%
5 Years: 19%
3 Years: 24%
TTM: 326%
Stock Price CAGR
10 Years: 12%
5 Years: 10%
3 Years: 31%
1 Year: 86%
Return on Equity
10 Years: 16%
5 Years: 16%
3 Years: 18%
Last Year: 26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 2,428 2,428 2,428 2,370 4,739 9,479 9,181 9,181 9,181 9,181 13,772 13,772
Reserves 60,609 65,485 66,404 87,610 97,357 104,395 103,288 86,217 102,657 124,354 125,949 169,645
89,671 94,916 64,893 58,552 63,271 65,650 96,765 129,790 116,649 132,020 148,977 132,628
89,170 103,124 100,158 83,184 108,352 116,336 126,128 104,773 126,658 145,327 153,342 166,318
Total Liabilities 241,878 265,953 233,883 231,715 273,719 295,860 335,363 329,962 355,145 410,882 442,039 482,362
66,707 69,724 72,844 95,761 112,031 119,937 127,223 141,594 151,287 154,420 173,665 199,713
CWIP 27,240 38,061 40,378 26,219 16,778 19,130 28,281 32,845 36,291 47,469 51,133 57,317
Investments 17,351 15,895 16,069 31,185 43,687 44,806 44,112 35,571 44,717 52,352 52,190 65,542
130,580 142,273 104,592 78,551 101,222 111,987 135,746 119,952 122,851 156,641 165,050 159,790
Total Assets 241,878 265,953 233,883 231,715 273,719 295,860 335,363 329,962 355,145 410,882 442,039 482,362

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
9,340 24,195 46,092 25,624 28,216 29,115 12,747 7,146 49,650 25,747 29,644 71,099
-9,294 -18,594 -10,215 -13,610 -17,684 -17,119 -22,569 -29,101 -22,935 -21,294 -28,030 -31,464
352 -3,116 -38,283 -11,890 -10,937 -12,007 10,436 22,456 -27,369 -4,058 -1,794 -39,385
Net Cash Flow 398 2,485 -2,406 124 -405 -11 614 502 -653 395 -180 250

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 10 9 6 8 9 9 11 10 14 12 7 6
Inventory Days 59 61 46 54 87 77 64 59 111 84 59 69
Days Payable 30 34 29 31 41 40 34 24 49 37 27 34
Cash Conversion Cycle 39 36 23 31 55 46 41 45 76 59 40 42
Working Capital Days 43 31 5 2 -11 -3 9 7 -2 9 8 8
ROCE % 8% 9% 6% 14% 20% 22% 16% 5% 15% 16% 8%

Shareholding Pattern

Numbers in percentages

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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