āagman

Not investment advice. Data and computed figures, for information only.

Indian Oil Corporation Ltd

NSE: IOCF&O
₹128.83
+₹1.03 (+0.81%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,78,422 Cr
CMP
₹128.83
52-wk High / Low
₹189 / 125
P/E
5.3
P/B
0.8
Book Value
₹155.0
Div Yield
6.53%
ROCE
19.0%
ROE
20.5%
Face Value
₹10
D/E
0.60

Price−16.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹322
√(22.5 × EPS × book value per share)
ROIC
12.7%
vs 9.7% sector median
Cash flow to profit
1.74
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−537
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
13.4%
ROE × earnings retention ratio
ROE stability
6.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.76DII +0.42
Latest quarter vs the previous one
Cash-accrual divergence
−6.3%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 2.2pp over the last year
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 5.3x is below the sector median of 12.8x
Watch-outs
−Borrowings are up 125.1% since FY2016 (58552 to 131822)
−Price trades below its 200-day moving average (0.9x)
−Price is 31.8% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,98,5511,79,2461,99,9061,98,6501,93,8451,74,9761,94,0141,95,2701,92,3411,78,6282,05,1572,08,2892,66,407
Expenses1,74,8511,56,0751,83,1721,86,6751,83,9231,71,5091,86,4421,80,2411,79,0731,62,3831,82,4121,83,4852,62,345
Operating Profit23,70023,17116,73311,9759,9213,4677,57315,02913,26716,24522,74524,8044,062
OPM %11.9%12.9%8.4%6.0%5.1%2.0%3.9%7.7%6.9%9.1%11.1%11.9%1.5%
Other Income9708291,9161,6861,1022,5561,9361,5191,7321,3561,6272,4241,143
Interest1,7431,9771,9582,1472,0802,5462,4582,1782,0702,2702,0881,8801,730
Depreciation3,4763,6104,6864,0944,1034,0654,2844,3254,1794,2274,4575,5574,408
Profit before tax19,45018,41312,0057,4204,841−5892,76610,0458,75011,10417,82719,791−933
Net Profit14,73513,7139,2255,4883,723−4492,1478,3686,8088,19113,50215,176−1,141
EPS (₹)10.229.296.393.652.50−0.121.505.754.835.549.2110.24−1.15

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,49,5073,46,0453,55,3794,21,4925,28,1584,83,7633,63,9505,89,3368,41,7567,76,3527,58,1067,84,4158,58,482
Expenses4,38,9323,24,0073,21,2303,79,8344,92,8964,67,7103,24,0215,42,7178,11,0737,00,7027,22,0667,07,3087,90,626
Operating Profit10,57522,03834,14941,65835,26216,05339,92946,61930,68375,65036,04077,10867,856
OPM %2.4%6.4%9.6%9.9%6.7%3.3%11.0%7.9%3.6%9.7%4.8%9.8%7.9%
Other Income5,8605,2194,3564,3314,097−7,1654,6964,3185,1245,3847,1127,1396,550
Interest4,2013,4873,7433,8754,9255,7922,9334,3017,5887,8819,3118,3547,967
Depreciation5,2195,6986,8067,6648,50610,27310,94112,34813,18115,86616,77718,42018,650
Profit before tax7,01418,07227,95634,45025,927−7,17730,75134,28915,03857,28817,06357,47247,789
Net Profit4,87212,41320,38522,62617,274−1,87621,76225,72711,70443,16113,78943,67735,728
EPS (₹)3.378.2513.6315.2312.31−0.6315.3217.786.9329.559.6329.8123.84

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital2,4282,3704,7399,4799,1819,1819,1819,18113,77213,77213,77213,772—
Reserves66,40487,61097,3571,04,3951,03,28886,2171,02,6571,24,3541,25,9491,69,6451,72,7162,05,746—
Borrowings64,89358,55263,27165,65096,7651,29,7901,16,6491,32,0201,48,9771,32,6281,52,2711,31,822—
Other Liabilities1,00,15883,1841,08,3521,16,3361,26,1281,04,7731,26,6581,45,3271,53,2981,66,6391,68,7961,78,012—
Total Liabilities2,33,8832,31,7152,73,7192,95,8603,35,3633,29,9623,55,1454,10,8824,41,9954,82,6835,07,5545,29,352—
Fixed Assets76,7811,00,0331,15,9581,24,0531,32,4941,47,0221,57,0851,60,5141,80,0481,95,9982,01,1422,08,569—
CWIP40,37826,21916,77819,13028,28132,84536,29147,46951,13361,03277,92186,049—
Investments16,06931,18543,68744,80644,11235,57144,71752,35252,19065,54267,21873,298—
Other Assets1,00,65574,27897,2951,07,8711,30,4761,14,5241,17,0531,50,5461,58,6241,60,1111,61,2721,61,436—
Total Assets2,33,8832,31,7152,73,7192,95,8603,35,3633,29,9623,55,1454,10,8824,41,9954,82,6835,07,5545,29,352—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity24,19546,09225,62428,21629,11512,7477,14649,65024,57029,64471,14634,45276,142
Cash from Investing Activity−18,594−10,215−13,610−17,684−17,119−22,569−29,101−22,935−21,178−28,030−31,512−31,641−22,274
Cash from Financing Activity−3,116−38,283−11,890−10,937−12,00710,43622,456−27,369−2,997−1,794−39,385−3,421−52,672
Net Cash Flow2,485−2,406124−405−11614502−653395−180250−6101,197

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %9.06.014.020.022.016.05.015.016.08.021.07.019.0
ROE %————————————20.5
EPS (₹)4.863.378.2513.6315.2312.31−0.6315.3217.786.9329.559.6329.81
Book Value (₹)————————————155.0
Face Value (₹)————————————10
P/E————————————5.3
Div Yield %————————————6.53
NPM %1.41.13.55.75.33.2−0.45.94.31.45.51.85.5
OPM %4.02.46.010.010.07.03.311.08.03.610.04.810.0
D/E1.400.940.650.620.580.861.361.040.991.070.720.820.60
P/B————————————0.8

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+17.0%
3 years−2.0%
TTM+13.0%
Compounded profit growth
10 years+14.0%
5 years+14.0%
3 years+62.0%
TTM+111.0%
Stock price CAGR
10 years+2.0%
5 years+8.0%
3 years+12.0%
Last year−18.0%
Return on equity
10 years16.0%
5 years16.0%
3 years17.0%
Last year20.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters57.34%57.34%56.98%52.18%51.50%51.50%51.50%51.50%51.50%51.50%51.50%51.50%
FIIs5.36%5.36%6.16%7.04%7.19%5.81%8.36%6.91%8.49%7.39%9.84%9.08%
DIIs11.68%11.68%10.33%13.72%13.40%12.98%11.32%11.92%10.23%9.97%9.10%9.52%
Government0.11%0.11%0.11%0.11%0.11%0.11%0.11%19.60%19.57%19.57%19.57%19.57%
Public25.51%25.51%26.43%26.95%27.80%29.60%28.71%10.06%10.18%11.57%9.96%10.32%
No. of shareholders2,21,7222,21,7223,44,9184,44,5465,86,5359,43,03013,35,44318,27,30324,28,56131,89,61427,89,94028,59,833
Change since Jun 2023 (pp)
Promoters −5.84FIIs +3.72DIIs −2.16Public −15.19

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Change In Senior Management Personnel.Clarification sought from Indian Oil Corporation LtdClosure of Trading WindowInvestment Approval For Kochi-Kanyakumari-Thoothukudi Natural Gas Pipeline
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026PPTOct 2025TranscriptOct 2025PPTOct 2025RecordingSep 2025PPT

Corporate actions

As of 14 Aug 2026
14 Aug 2026DIVIDENDDividend - Rs 1.25 Per Share—
12 Mar 2026DIVIDENDInterim Dividend - Rs 2 Per Share—
18 Dec 2025DIVIDENDInterim Dividend - Rs 5 Per Share—
8 Aug 2025DIVIDENDDividend - Rs 3 Per Share—
12 Jul 2024DIVIDENDDividend - Rs 7 Per Share—
10 Nov 2023DIVIDENDInterim Dividend - Rs 5 Per Share—
28 Jul 2023DIVIDENDDividend - Rs 3 Per Share—
11 Aug 2022DIVIDENDDividend - Rs 2.40 Per Share—
30 Jun 2022BONUSBonus 1:2—
9 Feb 2022DIVIDENDInterim Dividend - Rs 4 Per Share—
11 Nov 2021DIVIDEND Interim Dividend - Rs 5 Per Share—
5 Aug 2021DIVIDEND Dividend - Rs 1.50 Per Share—
23 Mar 2021DIVIDEND Interim Dividend - Rs 3 Per Share—
9 Feb 2021DIVIDEND Interim Dividend - Rs 7.50 Per Share—
23 Mar 2020DIVIDEND Interim Dividend - Rs 4.25 Per Share—
21 Aug 2019DIVIDEND Annual General Meeting/Dividend - Re 1 Per Share—
27 Mar 2019DIVIDEND Interim Dividend - Rs 1.50 Per Share—
21 Dec 2018DIVIDEND Interim Dividend - Rs 6.75 Per Share—
20 Aug 2018DIVIDEND Dividend Rs 2 Per Share—
15 Mar 2018BONUS Bonus 1:1—
8 Feb 2018DIVIDEND Interim Dividend Rs 19/- Per Share—
18 Aug 2017DIVIDEND Annual General Meeting/Dividend - Re 1/- Per Share—
24 Mar 2017DIVIDEND Interim Dividend Rs 4.50 Per Share—
9 Feb 2017DIVIDEND Interim Dividend Rs 13.50 Per Share—
18 Oct 2016BONUS Bonus 1:1—
2 Sep 2016DIVIDEND Dividend - Rs 8.50 Per Share—
23 Feb 2016DIVIDEND Interim Dividend - Rs 5.50/- Per Share—
4 Sep 2015DIVIDEND Annual General Meeting/ Dividend - Rs 6.60/- Per Share—
14 Aug 2014DIVIDENDAnnual General Meeting/Dividend Rs.8.70/- Per Share—
22 Aug 2013DIVIDENDAnnual General Meeting / Dividend - Rs 6.20/- Per Share—
5 Sep 2012DIVIDENDAnnual General Meeting/Dividend Rs 5 Per Share—
15 Sep 2011DIVIDENDDividend-Rs.9.50 Per Share—
8 Sep 2010DIVIDENDAnnual General Meeting And Dividend Rs.13/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman