Indian Oil share price today

Indian Oil Corporation Ltd's share price was ₹146.25 at the close on 6 November 2026. It has been falling for 28 weeks. That is 3.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹126 and ₹187, and at that close it sat 33% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Indian Oil Corporation Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 11 years the share price moved +141% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: best operating margin in 12 quarters, highest quarterly profit in 16 quarters and revenue up on a year earlier for 5 quarters in a row.

1. Best operating margin in 12 quarters

   Operating margin was 13% in the September 2026 quarter, against 9% a year earlier.

   Why: The margin jumped mostly because a big gain on the value of stored oil lifted reported results, while normal refining stayed limited and fuel retailing lost money.

   Next results: check whether government pricing support covers the LPG loss.

   From the earnings call on 31 Oct 2026.

2. Highest quarterly profit in 16 quarters

   Profit of ₹22,503 crore in the September 2026 quarter is the highest of the last 16 quarters.

   Why: Profit hit a record mostly because a big gain on the value of stored oil lifted the reported number.

   From the earnings call on 31 Oct 2026.

3. Revenue up on a year earlier for 5 quarters in a row

   In the September 2026 quarter revenue was ₹2,53,967 crore, +42.2% on a year earlier.

   Why: Sales rose because the company sold more fuel than a year earlier, with petrol and diesel sales up.

   Next results: check whether these refinery units start adding output.

   From the earnings call on 31 Oct 2026.

Indian Oil paid ₹8.25 a share in regular dividends in the 12 months to 7 November 2026 (3 payments), a yield of 5.64% at the ₹146.25 close on 6 November 2026. The last was a dividend of ₹1.25 a share, ex-date 14 August 2026.

Indian Oil dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Indian Oil Corporation Ltd paid out 27% of its profit as dividends in FY26, and it paid a dividend in 12 of its last 13 reported years. One of those years shows a negative figure because profit itself was negative.

From the NSE corporate-actions record, read 7 November 2026.

For July to September 2026 (the quarter ended 30 September 2026), Indian Oil reported revenue of ₹2,53,967 crore, up 42.2% from ₹1,78,628 crore a year earlier, and a profit of ₹22,503 crore, up 174.7% from ₹8,191 crore.

Indian Oil results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Indian Oil's management discussed these results on a call held on 31 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Indian Oil closed at ₹146.25 on 6 November 2026, down 13.5% from ₹169.16 a year earlier (7 November 2025) and up 62.9% over five years. Its highest weekly close since February 2016 was ₹187.47 on 27 February 2026.

Indian Oil share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 26 February 2016 to 6 November 2026.

6 Nov 2026: Indian Oil closed at ₹146.25, up 12.4% on the week and up 15.7% on the month. 31 Oct 2026: Indian Oil held its results call for July to September 2026. Management guided: Capital spending goal ₹32,700 crore for this FY across all verticals.

Earlier

• Results for July to September 2026: Revenue up 42.2% and profit up 174.7% on a year earlier.
• 14 Aug 2026: ex-date for a dividend of ₹1.25 a share.
• 12 Mar 2026: ex-date for an interim dividend of ₹2 a share.
• 18 Dec 2025: ex-date for an interim dividend of ₹5 a share.

On the call for July to September 2026, held on 31 October 2026, Indian Oil's management guided: Capital spending goal ₹32,700 crore for this FY across all verticals.

“Going forward, in November, we feel that it would be somewhere in the range of Rs.309 per cylinder, and it may go to Rs.370 per cylinder in December.”Management, on the call for July to September 2026

What management guided

• Capital spending ₹30,000-40,000 crore per annum over next 4-5 years.
• Three refinery expansions commissioning this FY with gradual 5-6 month ramp and benefits from next fiscal.
• Yield uplift post-expansion with Panipat distillate 83.4% to 85.2% and HSD 46% to 49%, Gujarat 79.3% to 82.5%, Barauni HSD 48% to 50% plus 3.8% residue gain.
• Renewable goal 31 GW in 5 years via 6 GW organic, 7.5 GW M&A and JV balance with 2 GW captive in 5-6 months.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 31 October 2026.

When Indian Oil reports October to December 2026, these are the 2 checks that show whether the story is still on course. First: Refinery trio phased commissioning milestones this FY and early throughput ramp signs.

Indian Oil is on 3 of our India lists: 52 week high & low, Dividend stocks and Oil & gas stocks.

Indian Oil Corporation Ltd earned ₹22,503 Cr of net profit in the Sep 2026 quarter, +174.7% on the same quarter a year earlier. Full-year FY26 profit was ₹43,677 Cr. Over 10 years profit has grown 13.4% a year on average. That is 8.9% of the quarter's revenue. The same quarter a year earlier earned ₹8,191 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

2 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹43,677 Cr (+216.8% on the year before).

Why profit moved: revenue changed +42.2% on a year earlier and the margin moved +4.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +167.0% and revenue +23.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Indian Oil Corporation Ltd reported ₹2,53,967 Cr of revenue in the Sep 2026 quarter, +42.2% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 8.5% a year on average. The last full year, FY26, came in at ₹7,84,415 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹9,33,820 Cr.

FY26 revenue was ₹7,84,415 Cr, +3.5% on the year before.

Recent pace: the last four quarters grew +23.3% on average, against 8.5% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +22.8%, against +10.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +96.1%, against +66.8% a year (accelerating).

Indian Oil Corporation Ltd's operating margin was 13.0% in the Sep 2026 quarter, 4.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 2.4% and 11.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +4.2 percentage points on the year while gross margin changed +1.6 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 181% of Indian Oil Corporation Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹76,142 Cr of operating cash against ₹43,677 Cr of profit. After ₹33,975 Cr of spending on assets, ₹42,167 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 181% of profit came in as cash: the cash cycle got 35 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.2× depreciation over three years. The next section checks what that spending is building.

Indian Oil Corporation Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 41 days in FY26, down from 76 days in FY21. It spent ₹1,14,500 Cr on assets over the last 3 years. Customers take 7 days to pay, and stock sits for 68 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹7,84,415 Cr, each day of that cycle ties up about ₹2,149 Cr, so roughly ₹88,112 Cr is tied up in the business at any time.

FY26: customers took 7 days to pay and stock sat for 68 days, about 2.2 months of sales sitting as stock, for a full cycle of 41 days, shorter than FY21's 76.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 68 days. Customers pay about 7 days after that. Suppliers are paid at 33 days. Together that makes the 41-day cycle.

Spending on assets: ₹1,14,500 Cr over the last 3 years, against ₹51,063 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹86,049 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Indian Oil Corporation Ltd's P/E is 4.4×, near the low end of its own history: it has been lower only 7% of the time. Its usual P/E (the middle reading) is 8.2×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.