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IOC · NSE · Refineries & Marketing

Indian Oil Corporation Ltd

What the numbers mean, from its filings and the exchange. Data as of 13 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Energy
cheap low confidence No valuation within 120 days; P/E 5.2 vs peers 10.4 (1st of 16); P/B 0.91 vs peers 1.7 (2nd of 16).
Cheap for a reason: Revenue -2.2% a year over 3 years.
Statements through FY2026Prices adjusted for 4 corporate actionsNot yet reviewed by the adversarial model

What is Indian Oil Corporation's share price today?

Indian Oil Corporation last traded at ₹125.11 on the NSE, as of 13 Oct 2026, 11:45 am IST, down 0.2% on the day, down 19.3% over a year. Its 52-week range is ₹125 to ₹189. The live price is in the app.

₹125.11 −0.2% today
−19.3% over 1 year · NSE, as of 13 Oct 2026, 11:45 am IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range0% of the way up
Low ₹125High ₹189

What is Indian Oil Corporation's market cap?

Indian Oil Corporation's market capitalisation is about ₹1.77 lakh crore: what it would cost to buy every share at today's price. That makes it the 50th largest large cap company we cover.

₹1.8 L Cr Large Cap50th largest large cap company
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: IOC
ISIN
INE242A01010
Cap bucket
Large Cap, 50th largest by market cap
Industry (NSE)
Energy › Oil Gas & Consumable Fuels › Petroleum Products › Refineries & Marketing
Listed since
1996
Futures and options
Traded

Is Indian Oil Corporation overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 5.2 vs peers 10.4 (1st of 16); P/B 0.91 vs peers 1.7 (2nd of 16). Cheap for a reason: revenue -2.2% a year over 3 years.

Valuation

Latest price and trailing 12 months
P/E 5.17
vs peers 10.4 · 1st of 16
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 0.91
vs peers 1.7 · 2nd of 16
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹1.77 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 5.9%
vs peers 2.5% · 4th of 14
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 0.42
vs peers 1.1 · 2nd of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 0.08
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Indian Oil Corporation a quality business?

Quality score 51.5, 10th of 16 in its peer set; CLEAN on 30 of 30 flags judged.

Quality and risk

Data as of 13 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 51.5
vs peers 54.4 · 10th of 16
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level CLEAN
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 19.2%
vs peers 14.2% · 6th of 16
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 17.2%
vs peers 17.3% · 9th of 16
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 3.9%
vs peers 7.8% · 13th of 16
Profit after everything, as a share of revenue. Learn more →
EPS ₹31.72
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has Indian Oil Corporation made money for shareholders?

Mixed: −19.3% over one year and +10.1% a year over five years.

Shareholder returns

1-year return −19.3%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +10.1% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−4.8%
1M
−5.1%
3M
−10.4%
6M
−11.2%
1Y
−19.3%
3Y
+14.6%
5Y
+10.1%

Does Indian Oil Corporation pay a dividend?

Yes. Indian Oil Corporation's dividend yield is 5.94% at the latest price; the last payout was ₹1.25 a share, ex-dividend 14 Aug 2026.

Dividends

Per share, by ex-dividend date
Dividend yield5.94%
The past 12 months' dividends as a share of today's price.
14 Aug 2026 · Final₹1.25
12 Mar 2026 · Interim 2₹2.00
18 Dec 2025 · Interim₹5.00
8 Aug 2025 · Final₹3.00
12 Jul 2024 · Final₹7.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Indian Oil Corporation growing?

Revenue 3 years -2.2% a year; profit 3 years 62.6% a year; revenue 5 years 7.8% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years -2.2% a year
vs peers 0.2% · 13th of 16
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 62.6% a year
vs peers 5.3% · 2nd of 14
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 7.8% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 6.0% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 61.2% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 13.7% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -22.8%
vs peers -0.7% · 5th of 15
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did Indian Oil Corporation do last quarter?

Indian Oil Corporation reported revenue of ₹2.7 L Cr, up 3.5% on a year earlier and a net profit of ₹-1,141 Cr, up 216.8% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹2.7 L Cr
+3.5% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹-1,141 Cr
+216.8% on a year earlier
What was left for shareholders after every cost and tax.

How does Indian Oil Corporation compare with its peers?

Compared with 15 Oil Gas & Consumable Fuels (the sector, as the industry was too small); 1st of 16 on P/E; 10th of 16 on quality score.

Compared with 15 Oil Gas & Consumable Fuels (the sector, as the industry was too small)

15 companies

Indian Oil Corporation against its peers

Largest 10 of 15 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Indian Oil Corporation Ltd₹1.8 L Cr5.20.919.2%17.2%−19.3%
Reliance Industries Ltd₹15.7 L Cr21.23.27.9%7.6%−15.7%
Oil & Natural Gas Corpn Ltd₹2.8 L Cr6.41.110.2%11.4%−9.9%
Coal India Ltd₹2.5 L Cr8.113.484.5%62.5%+6.1%
Bharat Petroleum Corporation Ltd₹1.2 L Cr7.21.329.9%31.3%−15.8%
GAIL (India) Ltd₹1.1 L Cr11.11.29.6%10.1%−7.4%
Oil India Ltd₹71,823 Cr8.61.69.5%10.2%+6.0%
Hindustan Petroleum Corporation Ltd₹70,697 Cr41.51.232.5%22.8%−26.4%
Adani Total Gas Ltd₹61,941 Cr98.011.614.1%14.6%−9.9%
Petronet LNG Ltd₹43,575 Cr10.41.718.7%22.9%+3.3%
Aegis Vopak Terminals Ltd₹31,733 Cr125.53.78.1%6.5%+3.5%
Peer median—10.41.714.2%17.3%−7.6%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Indian Oil Corporation?

Indian Oil Corporation is held by promoters 51.5%, foreign institutions 9.1%, domestic institutions 9.6%.

Shareholding pattern

Latest filing, percent of shares
Promoters51.5%
The founders and controlling group.
Foreign institutions9.1%
Overseas funds investing through the FPI route.
Domestic institutions9.6%
Indian insurers, banks, pension and mutual funds together.
Mutual funds2.7%
Indian mutual fund schemes; part of domestic institutions.
Retail and others5.4%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Indian Oil Corporation?

30 analysts cover Indian Oil Corporation, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

30 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Indian Oil Corporation do and what is it sensitive to?

IndianOil sells refined petroleum products (including HSD, MS, LPG and ATF), petrochemicals, gas and lubricants, largely to retail customers through its marketing network and to institutional, aviation and lubes customers. Sensitive to: crude oil prices.

Business-model card

FY2025 · 42 verified
4Revenue
5Channels
1Regulators
6Reg. dependencies
5Sensitivities
4Costs
1Geographies

IndianOil sells refined petroleum products (including HSD, MS, LPG and ATF), petrochemicals, gas and lubricants, largely to retail customers through its marketing network and to institutional, aviation and lubes customers. It earns revenue mainly on delivered sales of products, recognised at a point in time on delivery and net of volume discounts and loyalty points.

Revenue by segment

Year ended March 31, 2025 (2024-25), consolidated; External Revenue row
Petroleum Products91.2%
Petro-chemicals3.3%
Gas4.9%
Other Business0.6%

Revenue engine

4 verified
High Speed Diesel (HSD) sales
Largest product line in the major products table: 3,82,278.61 crore in 2024-25 versus 4,06,028.48 crore in 2023-24. Revenue is recognised at a point in time, generally on delivery.
Motor Spirit (MS) sales
Petrol line of 1,98,519.62 crore in 2024-25 versus 1,96,193.13 crore in 2023-24. Revenue is net of volume or slab discounts and loyalty points.
Liquefied Petroleum Gas (LPG) sales
LPG line of 91,080.60 crore in 2024-25, down from 1,02,693.67 crore in 2023-24. Delivered sales, with the company's own LPG customer base.
1 more statement
Aviation Turbine Fuel (ATF) sales
ATF line of 42,098.13 crore in 2024-25, down from 44,576.67 crore in 2023-24. Aviation is supplied on a delivered basis, on credit.

Customers & channels

5 verified
Retail customers on cash and carry
Majority of sales are to retail, mostly on cash and carry, so retail volumes are paid up front at delivery.
Institutional, lubes and aviation customers on credit
Supplies to Institutional Businesses, Lubes and Aviation are on credit for less than a year, which creates receivables exposure.
Retail network of fuel stations and touchpoints
Retail and last-mile reach through a physical network. The company states 40,221 fuel stations and over 63000 customer touchpoints.
2 more statements
Active LPG customer base
Interpretation: the LPG customer count is a demand base for cylinder refills and related services.
Advance deposits from customers
Customers generally deposit amounts in advance against which orders are placed, and revenue is recognised on delivery by adjusting the advance.

Regulators

1 verified
Ministry of Petroleum & Natural Gas (MoP&NG)
Controlling ministry: the company is a Government Company under its administrative control, and appointment of Directors vests with the Government of India.

Regulatory dependencies

6 verified
Ethanol blending and SAF blending mandates
Mandated blending volumes set the required share of biofuels in fuel sales. Interpretation: changes to these mandate levels would change demand for blended and green fuels and the related investment needs.
Excise duty included in revenue
Excise duty is recognised as part of revenue, so a change in excise duty changes reported revenue. Sales tax, GST and VAT are not received on the company's own account and are excluded from revenue.
GST and VAT pass-through
Sales tax, GST and VAT are not received on the company's own account, so tax changes on these taxes do not form part of the company's revenue.
3 more statements
Concessional duty under EPCG licence
Concessional duty on capital goods is tied to an export obligation. Interpretation: failure to meet the obligation would expose the company to duty costs.
Hedging tools permitted under Indian law
Commodity and currency hedges are limited to instruments permitted under Indian law, which constrains how the company manages price risk.
Changes in Government of India regulations and tax laws
Named in the cautionary statement as a factor that could change operating results. Interpretation: tax and regulatory changes would move revenue, cost or profit.

Sensitivities

5 verified
Crude oil prices
Crude import at around 88 percent of supply exposes the company to global price volatility and supply disruptions. Direction: higher volatility increases exposure in both refining and inventory valuation.
Volatile global crude oil prices
Operational and financial performance is vulnerable to crude price swings driven by geopolitical tensions. Direction: sharp rises or falls in crude move margins and results.
Exchange rates and rupee depreciation
Rupee depreciation increases repayment obligations on foreign currency loans, and currency moves affect import and export costs. Most exchange rate effects are absorbed in operating results.
2 more statements
Currency movements absorbed in operations
Most exchange rate effects are absorbed in operating results and offset by cost competitiveness and lags in market adjustments, so the total effect is not separately identifiable.
Monsoon and policy stability for growth
Interpretation: normal monsoons and policy stability support the demand outlook; a weak monsoon would weigh on the growth momentum the excerpt describes.

Cost inputs

4 verified
Crude oil procurement sources
Crude is bought from multiple sources to reduce single-supplier dependence, per the company's mitigation strategies.
Power and fuel, net of own production
Power and fuel is shown net of fuel from own production, so fuel the company generates itself reduces the external power and fuel cost.
Freight, transportation and demurrage
Freight and logistics is a major operating cost line; the company plans to reduce high-cost logistics areas.
1 more statement
Suppliers and business partners
Supplier network and ESG risk assessments for vendors; Supplier Relationship Management system monitors financial, quality and environmental metrics.

Geographies

1 verified
No reportable geographical segments
Company reports no geographical segments, so regional performance is not separately disclosed.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Dividend - Rs 1.25 Per Share (14 Aug 2026).

Change log

8 entries · newest first
  1. Corporate actionDividend - Rs 1.25 Per Share.
  2. Results filedQ1 FY2027 results filed.
  3. Results filedQ4 FY2026 results filed.
  4. Corporate actionInterim Dividend - Rs 2 Per Share.
  5. Results filedQ3 FY2026 results filed.
  6. Corporate actionInterim Dividend - Rs 5 Per Share.
  7. Results filedQ2 FY2026 results filed.
  8. Results filedQ1 FY2026 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsCLEAN on 30 of 30 flags judged; no red flag.
  • Data gapsBusiness quality: not available yet.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓285 months of month-end prices, adjusted for bonuses and splits (4 corporate actions)○no valuation of ours yet✓business-model card FY2025 · 42 verified

Questions people ask

What is Indian Oil Corporation's share price today?

Indian Oil Corporation last traded at ₹125.11 on the NSE, as of 13 Oct 2026, 11:45 am IST, down 0.2% on the day, down 19.3% over a year. Its 52-week range is ₹125 to ₹189. The live price is in the app.

What is Indian Oil Corporation's market cap?

Indian Oil Corporation's market capitalisation is about ₹1.77 lakh crore: what it would cost to buy every share at today's price. That makes it the 50th largest large cap company we cover.

Is Indian Oil Corporation Ltd a large cap, mid cap or small cap?

Indian Oil Corporation Ltd (IOC) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Indian Oil Corporation Ltd's P/E ratio?

5.17, vs peers 10.4 · 1st of 16. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Indian Oil Corporation Ltd overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 5.2 vs peers 10.4 (1st of 16); P/B 0.91 vs peers 1.7 (2nd of 16). Cheap for a reason: revenue -2.2% a year over 3 years.

How does Indian Oil Corporation Ltd make money?

IndianOil sells refined petroleum products (including HSD, MS, LPG and ATF), petrochemicals, gas and lubricants, largely to retail customers through its marketing network and to institutional, aviation and lubes customers. It earns revenue mainly on delivered sales of products, recognised at a point in time on delivery and net of volume discounts and loyalty points.

Who are Indian Oil Corporation Ltd's peers?

Compared with 15 Oil Gas & Consumable Fuels (the sector, as the industry was too small): Reliance Industries Ltd, Oil & Natural Gas Corpn Ltd, Coal India Ltd, Bharat Petroleum Corporation Ltd, GAIL (India) Ltd and 10 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Indian Oil Corporation do last quarter?

Indian Oil Corporation reported revenue of ₹2.7 L Cr, up 3.5% on a year earlier and a net profit of ₹-1,141 Cr, up 216.8% in the Jun 2026 quarter.

Who owns Indian Oil Corporation?

Indian Oil Corporation is held by promoters 51.5%, foreign institutions 9.1%, domestic institutions 9.6%.

Does Indian Oil Corporation pay a dividend?

Yes. Indian Oil Corporation's dividend yield is 5.94% at the latest price; the last payout was ₹1.25 a share, ex-dividend 14 Aug 2026.

What do analysts say about Indian Oil Corporation?

30 analysts cover Indian Oil Corporation, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

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