Indian Oil Corporation
Indian Oil Corporation Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Indian Oil Corporation Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Indian Oil Corporation Ltd trades at a P/E of 4.62× and P/B of 0.89×, against the Energy sector median P/E of 8.46×.
Valuation
Profitability
Growth
Financial Health
Indian Oil Corporation Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Indian Oil Corporation Ltd, switchable between annual and quarterly views, consolidated or standalone.
Indian Oil Corporation Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹2,03,783.59 Cr and reported EPS of ₹30.57.
| Period | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 6,17,243 | 5,76,589 | 5,20,237 | 7,36,731 | 9,51,410 | 8,81,235 | 8,59,363 | 9,01,453 |
| Other Income | 2,714 | 2,790 | 3,500 | 3,082 | 4,199 | 3,843 | 3,514 | 4,163 |
| Total Income | 6,19,957 | 5,79,379 | 5,23,736 | 7,39,813 | 9,55,609 | 8,85,078 | 8,62,876 | 9,05,616 |
| Cost of Goods Sold (COGS) | 4,42,096 | 4,15,130 | 2,75,459 | 4,86,953 | 7,47,635 | 6,38,799 | 6,56,786 | 6,33,124 |
| Gross Profit | 1,75,147 | 1,61,459 | 2,44,778 | 2,49,778 | 2,03,775 | 2,42,436 | 2,02,577 | 2,68,329 |
| +Operating Expenses | 1,39,923 | 1,45,054 | 2,04,193 | 2,02,036 | 1,73,076 | 1,66,846 | 1,66,587 | 1,91,267 |
| EBITDA | 35,224 | 16,405 | 40,585 | 47,742 | 30,699 | 75,591 | 35,991 | 77,062 |
| +Non-Operating Expenses | 13,395 | 5,130 | 14,531 | 17,771 | 20,722 | 23,692 | 27,877 | 26,728 |
| Profit Before Tax (PBT) | 24,543 | -8,543 | 29,554 | 33,053 | 14,176 | 55,742 | 15,303 | 54,497 |
| +Tax Expense | 8,653 | -5,300 | 8,989 | 8,562 | 3,333 | 14,127 | 3,275 | 13,795 |
| Profit After Tax (PAT) | 17,274 | -1,877 | 21,762 | 25,727 | 11,704 | 43,161 | 13,789 | 43,677 |
| Earnings Per Share (EPS) | 12.31 | -0.63 | 15.32 | 17.78 | 6.93 | 29.55 | 9.63 | 29.81 |
| Diluted Shares Outstanding (Nos.) | 1,412 | 1,412 | 1,412 | 1,412 | 1,412 | 1,412 | 1,412 | 1,412 |
| +Additional Disclosures | 10,36,130 | 9,81,748 | 7,75,463 | 12,01,795 | 16,91,554 | 14,84,121 | 15,07,298 | 14,93,531 |
| Sales Growth % | — | -6.59 | -9.77 | 41.61 | 29.14 | -7.38 | -2.48 | 4.90 |
| YoY Sales Growth % | — | -6.59 | -9.77 | 41.61 | 29.14 | -7.38 | -2.48 | 4.90 |
| Material Cost % | 50 | 49 | 33 | 45 | 53 | 51 | 52 | 48 |
| Employee Cost % | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| Other Cost % | 21 | 24 | 37 | 26 | 17 | 18 | 18 | 20 |
| OPM % | 6 | 3 | 8 | 6 | 3 | 9 | 4 | 9 |
| Tax % | 35 | 62 | 30 | 26 | 24 | 25 | 21 | 25 |
| Profit Growth % | — | -110.87 | 1,259.42 | 18.22 | -54.51 | 268.76 | -68.05 | 216.76 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 26,717 | 6,550 | 29,644 | 35,394 | 17,518 | 59,725 | 19,213 | 58,641 |
Indian Oil Corporation segment analysis: revenue and profit mix.
Disclosed business segments at Indian Oil Corporation with their share of revenue and profit, switchable between consolidated and standalone reporting.
Indian Oil Corporation discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Indian Oil Corporation Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Indian Oil Corporation Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Indian Oil Corporation Ltd's investment case rests on 7 positive markers and 8 flagged concerns drawn from the latest reported filings.
What you're getting.
Indian Oil Corporation (IOC) boasts a strong promoter holding of 51.5%, indicating significant confidence from the company's leadership. This substantial ownership stake suggests a long-term commitment to the company's success and stability.
IOC demonstrated a remarkable 1388% increase in quarterly profits (PAT ₹7818 Cr), indicating strong operational efficiency and effective cost management. This significant growth trend enhances investor confidence and future profitability outlook.
With a low Price-to-Earnings (PE) ratio of 9.44, significantly below the sector PE of 20.31, IOC appears potentially undervalued. This offers an attractive entry point for value-oriented investors seeking growth in the energy sector.
IOC offers a healthy dividend yield of 1.84%, providing a consistent income stream for shareholders. This attractive yield, combined with potential for capital appreciation, makes it an appealing option for income-focused investors.
Growing global energy demand, particularly in emerging economies, presents a significant opportunity for IOC to expand its market share and sales volume. Strategic investments in refining capacity can capitalize on this trend.
What can break it.
IOC's debt-to-equity ratio of 0.74 indicates a notable reliance on debt financing. This elevated debt level could increase financial risk, making the company more vulnerable to economic downturns or rising interest rates.
The company's Return on Equity (ROE) stands at a modest 6.51%, suggesting that its profitability relative to shareholder equity could be improved. This indicates a need for enhanced capital efficiency to deliver better investor returns.
IOC's stock has shown significant volatility, with a 52-week range from ₹110.72 to ₹163.73. This fluctuation presents a risk for investors with lower risk tolerance, potentially leading to considerable capital losses in short periods.
The operating profit margin (OPM) of 6.85% is relatively low, suggesting potential challenges in controlling operating costs. This could impact overall profitability and may limit the company's capacity for significant future growth.
Volatility in global crude oil prices poses a significant threat to IOC's profitability, impacting raw material costs and refining margins. Unpredictable price swings can lead to earnings instability and operational challenges.
What would change my mind.
Trim if P/E re-rates above 6 (~0.7× the sector multiple of 8.5). The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 58.95. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 16%. The operating engine is no longer compounding capital efficiently.
Indian Oil Corporation Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Indian Oil Corporation Ltd is highlighted for quick read-across.
Quick Compare
Indian Oil Corporation Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Indian Oil Corporation Ltd — derived from the live tape, not yesterday's close.
Indian Oil Corporation Ltd last traded at ₹144.49 with an intraday range of ₹144.21–₹148.47 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹144.49| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 155.76 | +11.27 | +7.80% |
| R3 | 151.50 | +7.01 | +4.85% |
| R2 | 149.98 | +5.49 | +3.80% |
| R1 | 147.24 | +2.75 | +1.90% |
| PIVOT | 145.72 | 1.23 | 0.85% |
| CURRENT | 144.49 | — | — |
| S1 | 134.46 | -10.03 | -6.94% |
| S2 | 138.72 | -5.77 | -4.00% |
| S3 | 141.46 | -3.03 | -2.09% |
| S4 | 142.98 | -1.51 | -1.05% |
IOC is trading Below CPR, indicating Bearishness
CPR is Wider, suggesting unlikely for trending moves
Day's range: 145 ~ 148.47
Trading Above opening range, showing Bullishness
Indian Oil Corporation Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Indian Oil Corporation Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Indian Oil Corporation Ltd stood at 45.4% of traded volume, against a 20-day average of 47.8%.
Indian Oil Corporation announcements: results, concalls, ratings, M&A.
Filings Indian Oil Corporation sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Indian Oil Corporation files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 126 documents below.
Updates
Indian Oil Corporation Limited has informed the Exchange regarding 'Change in Senior Management Personnel'.
Copy of Newspaper Publication
Indian Oil Corporation Limited has informed the Exchange about Copy of Newspaper Publication
Analysts/Institutional Investor Meet/Con. Call Updates
Indian Oil Corporation Limited has informed the Exchange about Transcript
Investor Presentation
Indian Oil Corporation Limited has informed the Exchange about Investor Presentation
Credit Rating- New
Indian Oil Corporation Limited has informed the Exchange about Credit Rating- New
Investor decks & rating reports.
Investor Presentation
Updates
Investor Presentation
Analysts/Institutional Investor Meet/Con. Call Updates
Indian Oil Corporation dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Indian Oil Corporation has declared, sequenced by announce and record date.
Indian Oil Corporation corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Indian Oil Corporation Ltd: business, sector, key facts.
What Indian Oil Corporation Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Indian Oil Corporation Ltd operates in the Energy, listed as NSE: IOC, BSE: 530965.
Indian Oil Corporation Limited (IOC) is a leading integrated energy company in India with significant international operations. Its core business revolves around the refining, transportation (primarily via pipelines), and marketing of petroleum products. This includes a wide range of refined products such as liquefied petroleum gas (LPG), diesel, gasoline, kerosene, jet fuel, and various petrochemicals like polypropylene, propylene, and purified terephthalic acid. The scale of its refining operations allows IOC to produce a vast array of products to cater to diverse industrial and consumer needs.
Beyond refining, IOC's extensive network of fuel stations ensures widespread distribution of its products across India. The company also plays a key role in the supply of piped and compressed natural gas, contributing to the nation's energy infrastructure. IOC's involvement extends to the exploration and production of crude oil and gas, indicating a vertically integrated approach that encompasses the entire value chain from resource extraction to product delivery. This upstream involvement enhances the company's strategic position and reduces its reliance on external suppliers.
IOC's activities are not limited to traditional energy sources. The company is engaged in renewable energy ventures, including wind and solar power generation, demonstrating a commitment to diversification and sustainability. Additionally, IOC provides a variety of ancillary services and products. These include the operation of fuel delivery services (Fuel@Call), the manufacturing and sale of cryogenic equipment, the provision of non-fuel products (e.g., LPG stoves, solar cooking systems), and the offering of specialized oils and lubricants for diverse industrial sectors such as marine, automotive, and agricultural applications. The company also engages in bunkering, refining and pipeline consultancy, technology licensing, and financial services, showcasing a wide-ranging portfolio.
In essence, IOC's business model is characterized by vertical integration, spanning from upstream exploration and production to downstream refining, transportation, and marketing, alongside diversification into renewable energy and other related businesses. This comprehensive strategy allows IOC to maintain a strong market position and address a broad spectrum of energy needs in India and internationally. The company's long history and extensive infrastructure underpin its leading role in the Indian energy landscape.
Questions investors ask about Indian Oil Corporation Ltd (IOC).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Indian Oil Corporation Ltd (IOC)?
The current share price of Indian Oil Corporation Ltd (IOC) is ₹144.49. Today, the stock has gained by ₹3.55 (2.52%), trading in a range of ₹144.21 to ₹148.47. The stock opened at ₹147 with a trading volume of 2,30,10,555 shares.
02Is Indian Oil Corporation Ltd stock a good investment for long-term?
Indian Oil Corporation Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹2,03,783.59 crores, P/E ratio of 4.62, ROE of 20.97%, and ROCE of 7.36%. The dividend yield stands at 7.10%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Indian Oil Corporation Ltd stock?
The 52-week high price of Indian Oil Corporation Ltd (IOC) is ₹188.96, while the 52-week low is ₹130.22. Currently trading at ₹144.49, the stock is 24.3% away from its 52-week low and 23.5% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Indian Oil Corporation Ltd stock at the current price?
Whether to buy Indian Oil Corporation Ltd stock at ₹144.49 depends on multiple factors. The stock is currently trading with a P/E ratio of 4.62 and P/B ratio of 0.89. Today's performance shows a gain of 2.52%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Indian Oil Corporation Ltd and when is the next dividend?
Indian Oil Corporation Ltd offers a dividend yield of 7.10%, which means for every ₹100 invested at the current price of ₹144.49, you can expect to receive approximately ₹7.10 annually as dividends. The face value of the stock is ₹10.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Indian Oil Corporation Ltd?
Indian Oil Corporation Ltd's key financial metrics include: P/E Ratio: 4.62, P/B Ratio: 0.89, ROE: 20.97%, ROCE: 7.36%, Dividend Yield: 7.10%, EPS: ₹30.57, Book Value: ₹159.42, and Debt-to-Equity: 58.45. The company's market cap stands at ₹2,03,783.59 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Indian Oil Corporation Ltd stock performing today in the market?
Indian Oil Corporation Ltd stock opened at ₹147 and is currently trading at ₹144.49, showing a gain of ₹3.55 (2.52%). The intraday high is ₹148.47 and low is ₹144.21. The trading volume stands at 2,30,10,555 shares, indicating strong market participation today.
08What is the P/E ratio of Indian Oil Corporation Ltd and what does it indicate?
Indian Oil Corporation Ltd has a Price-to-Earnings (P/E) ratio of 4.62, which means investors are willing to pay ₹4.62 for every ₹1 of earnings. With an EPS of ₹30.57, this P/E ratio suggests the stock may be undervalued or facing growth challenges. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Indian Oil Corporation Ltd (IOC) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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