# Indian Oil share price today (Indian Oil Corporation Ltd, NSE: IOC)

> Indian Oil share price today: ₹142.03 at the NSE close on 4 November 2026, down 16.0% in a year. Indian Oil Corporation (NSE: IOC) is worth ₹2,00,795 crore, trades at a P/E of 4.3 and has closed between ₹126.35 and ₹187.47 over the past 52 weeks. > Indian Oil Corporation Ltd's earnings have grown faster than its share price. Earnings per share grew +209.6% in a year while the price moved −16.0%. IOC · Refineries · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/indian-oil-corporation-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹142.03 (−16.0% in a year)
- P/E: 4.3× (lower than 94% of the last 11 years)
- Revenue (Sep 2026): ₹2,53,967 Cr (+42.2% on a year ago)
- Profit (Sep 2026): ₹22,503 Cr (+174.7% on a year ago)
- Operating margin: 13.0% (+4.0 points on a year ago)
- ROCE: 19%, FY26
- Profit that came in as cash: 181%, last 3 years

The main question: yearly earnings per share moved +209.6% while the share price moved −16.0%. ## What is the Indian Oil share price today? Indian Oil Corporation Ltd's share price was ₹142.03 at the close on 4 November 2026. It has been falling for 28 weeks. That is 0.3% 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 26% of the way up from that low. 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 +134% 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. ## What changed at Indian Oil this quarter? 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. ## What dividend does Indian Oil pay? Indian Oil paid ₹8.25 a share in regular dividends in the 12 months to 5 November 2026 (3 payments), a yield of 5.81% at the ₹142.03 close on 4 November 2026. The last was a dividend of ₹1.25 a share, ex-date 14 August 2026. ### Indian Oil dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 14 Aug 2026 | ₹1.25 | Dividend | same day |
| 12 Mar 2026 | ₹2 | Interim | same day |
| 18 Dec 2025 | ₹5 | Interim | same day |
| 8 Aug 2025 | ₹3 | Dividend | same day |
| 12 Jul 2024 | ₹7 | Dividend | same day |
| 10 Nov 2023 | ₹5 | Interim | same day |
| 28 Jul 2023 | ₹3 | Dividend | same day |
| 11 Aug 2022 | ₹2.40 | Dividend | 12 Aug 2022 |
| 9 Feb 2022 | ₹4 | Interim | 10 Feb 2022 |
| 11 Nov 2021 | ₹5 | Interim | 12 Nov 2021 |
| 5 Aug 2021 | ₹1.50 | Dividend | 6 Aug 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 5 November 2026.)

## What are Indian Oil's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹2,53,967 crore | ₹1,78,628 crore | +42.2% |
| Profit | ₹22,503 crore | ₹8,191 crore | +174.7% |
| Earnings per share | ₹15.16 | ₹5.54 | +173.6% |
| Operating margin | 13.0% | 9.0% | +4.0 points |

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.)

## What is the Indian Oil share price history? Indian Oil closed at ₹142.03 on 4 November 2026, down 16.0% from ₹169.16 a year earlier (7 November 2025) and up 58.2% over five years. Its highest weekly close since February 2016 was ₹187.47 on 27 February 2026. ### Indian Oil share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹130.15 | +9.1% |
| 1 month ago · 1 Oct 2026 | ₹131.34 | +8.1% |
| 6 months ago · 8 May 2026 | ₹144.69 | −1.8% |
| 1 year ago · 7 Nov 2025 | ₹169.16 | −16.0% |
| 3 years ago · 3 Nov 2023 | ₹95.90 | +48.1% |
| 5 years ago · 4 Nov 2021 | ₹89.77 | +58.2% |
| 10 years ago · 4 Nov 2016 | ₹102.00 | +39.2% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹60.72 | +133.9% |
| Highest weekly close since February 2016, also the 52-week high · 27 Feb 2026 | ₹187.47 | −24.2% |
| Lowest weekly close since February 2016 · 25 Sep 2020 | ₹49.40 | +187.5% |
| 52-week low (weekly close) · 9 Oct 2026 | ₹126.35 | +12.4% |

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 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 26 February 2016 to 4 November 2026.)

## What is the latest news on Indian Oil? 4 Nov 2026: Indian Oil closed at ₹142.03, up 9.1% on the week and up 8.1% 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. ## What did Indian Oil management say on the latest results call? 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](https://files.tijoristack.ai/concall/transcript/3469-31-Oct-2026.pdf). (From the call for July to September 2026, 31 October 2026.)

## What to watch in Indian Oil's next results? 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. - What to check (from the call)
- Refinery trio phased commissioning milestones this FY and early throughput ramp signs. - December LPG under-recovery print versus flagged level and update on compensation flow. ## Which stock lists is Indian Oil on? Indian Oil is on 3 of our India lists: 52 week high & low, Dividend stocks and Oil & gas stocks. - [52 week high & low 52-week position: Near 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Dividend stocks Regular dividend yield (%): 5.81](https://www.sectoralpha.in/dividend-stocks-india)
- [Oil & gas stocks Group on the list: Refiners and fuel retailers](https://www.sectoralpha.in/sectors/oil-and-gas-stocks-india)

## Is Indian Oil profitable? 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. 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. ## How much revenue does Indian Oil make, and is it growing? 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. 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). ## How much of every ₹100 of sales does Indian Oil keep? 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. 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. ## Is Indian Oil's profit turning into cash? 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. 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. ## Where does Indian Oil's cash go? 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. 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. ## What is Indian Oil's P/E ratio, and how does it compare with its own history? Indian Oil Corporation Ltd's P/E is 4.3×, near the low end of its own history: it has been lower only 6% 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. Why the multiple is where it is: over the past year earnings per share moved +209.6% while the price moved −16.0%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +9.6% a year; about +13.0% a year came from earnings growth and about −3.4 percentage points from the multiple (the market paying less); over 10 years the price moved +3.4% a year; about +15.9% a year came from earnings growth and about −12.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 62% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Indian Oil business getting better or worse? Indian Oil Corporation Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 19.0%; each line tells part of the story. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is Indian Oil management's track record? Retained watch. ### Regulatory and governance record

No significant issues found. (Checked 15 March 2026.)

## How much does Indian Oil earn on its capital? Indian Oil Corporation Ltd earned a ROCE of 19% in FY26. That is up from a low of 5% in FY20. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 5.6% net margin and 1.48× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.6% net margin × 1.48× asset turnover × 2.41× leverage (assets divided by equity) ≈ 20.0% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 62% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Indian Oil have too much debt? Indian Oil Corporation Ltd had ₹1,31,822 Cr of borrowings against ₹2,19,518 Cr of equity in FY26, so its debt is 0.60× its equity. Its operating profit is 9 times its interest bill. Over 5 years borrowings went from ₹1,16,649 Cr to ₹1,31,822 Cr. Over the last 3 of those years it spent ₹1,14,500 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 62% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Indian Oil shareholding pattern? No group of Indian Oil Corporation Ltd's owners changed its stake by a full percentage point over the last two years. Domestic institutions moved −0.5 points over the same period, to 9.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +0.7 points over 8 quarters, to 8.6%; Domestic institutions: −0.5 points over 8 quarters, to 9.9%; Promoters: +0.0 points over 8 quarters, to 51.5%. ## How far is Indian Oil from balance-sheet trouble? For Indian Oil Corporation Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Indian Oil rank in its industry? 58.7 out of 100, rank 4 of 7 in Refineries, with 82% of the evidence available. Indian Oil Corporation Ltd scores 58.7 out of 100 against the 7 companies it is compared with in Refineries, ranking 4. Earnings are strong; relative strength in its sector is -16.8% and the one-year return is -21.5%. The four parts add up to the total exactly: 24.7 + 13.9 + 13.4 + 6.7 = 58.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Indian Oil compared with? Indian Oil ranks 4 of 7 Refineries companies on the 4-Factor Sector Score, with 58.7 out of 100. 1. [Chennai Petroleum Corporation Ltd](https://www.sectoralpha.in/stocks/chennai-petroleum-corporation-ltd) CHENNPETRO · leader · Sector-leading setup · 83% evidence 81.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.9/35 · Revenue 31.2% · Profit 100% · Operating margin change 9 points · 100% evidence Capital efficiency 20.5/25 · ROCE 34.9% · Operating margin 16% · 100% evidence Valuation 11.0/20 · P/E 4× · PEG n/a · 15% evidence Relative strength 19.0/20 · Lead over its industry 30.8% · Lead over NIFTY 500 42.9% · 1 year 54.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 30.9 + 20.5 + 11 + 19 = 81.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Gandhar Oil Refinery (India) Ltd](https://www.sectoralpha.in/stocks/gandhar-oil-refinery-indialtd) GANDHAR · leader · Most evidence points up · 82% evidence 71.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.4/35 · Revenue 48.3% · Profit 100% · Operating margin change 10 points · 95% evidence Capital efficiency 12.2/25 · ROCE 13.3% · Operating margin 16% · 76% evidence Valuation 13.8/20 · P/E 5.4× · PEG n/a · 50% evidence Relative strength 16.3/20 · Lead over its industry 31.2% · Lead over NIFTY 500 42.5% · 1 year 86.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.4 + 12.2 + 13.8 + 16.3 = 71.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Mangalore Refinery And Petrochemicals Ltd](https://www.sectoralpha.in/stocks/mangalore-refinery-and-petrochemicals-ltd) MRPL · breaking out · Most evidence points up · 100% evidence 69.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.6/35 · Revenue 38.1% · Profit 100% · Operating margin change 3 points · 100% evidence Capital efficiency 12.4/25 · ROCE 18% · Operating margin 10% · 100% evidence Valuation 15.5/20 · P/E 7.3× · PEG 0.55 · 100% evidence Relative strength 13.6/20 · Lead over its industry -1.6% · Lead over NIFTY 500 8.3% · 1 year 4.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 27.6 + 12.4 + 15.5 + 13.6 = 69.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Indian Oil Corporation Ltd this page IOC · turning · Evidence leans up · 82% evidence 58.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 22.8% · Profit 96.1% · Operating margin change 4 points · 95% evidence Capital efficiency 13.9/25 · ROCE 18.7% · Operating margin 13% · 76% evidence Valuation 13.4/20 · P/E 3.9× · PEG n/a · 50% evidence Relative strength 6.7/20 · Lead over its industry -16.8% · Lead over NIFTY 500 -8.1% · 1 year -21.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 24.7 + 13.9 + 13.4 + 6.7 = 58.7 · What this means: Earnings are strong; relative strength in its sector is -16.8% and the one-year return is -21.5%. 5. [Reliance Industries Ltd](https://www.sectoralpha.in/stocks/reliance-industries-ltd) RELIANCE · basing · Evidence leans down · 100% evidence 37.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 19.9% · Profit -1.8% · Operating margin change -1 points · 100% evidence Capital efficiency 10.9/25 · ROCE 10.3% · Operating margin 17% · 100% evidence Valuation 12.1/20 · P/E 19.2× · PEG 0.55 · 100% evidence Relative strength 1.8/20 · Lead over its industry -19.1% · Lead over NIFTY 500 -10.5% · 1 year -21.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 12.9 + 10.9 + 12.1 + 1.8 = 37.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Bharat Petroleum Corporation Ltd](https://www.sectoralpha.in/stocks/bharat-petroleum-corporation-ltd) BPCL · quiet · Evidence leans down · 90% evidence 35.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.1/35 · Revenue 21.8% · Profit -25.6% · Operating margin change -3 points · 100% evidence Capital efficiency 15.1/25 · ROCE 25.6% · Operating margin 6% · 100% evidence Valuation 8.8/20 · P/E 8.8× · PEG n/a · 50% evidence Relative strength 4.9/20 · Lead over its industry -16.6% · Lead over NIFTY 500 -7.9% · 1 year -20.2% · 100% evidence · 3 of 12 weeks ahead Exact sum: 7.1 + 15.1 + 8.8 + 4.9 = 35.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Hindustan Petroleum Corporation Ltd](https://www.sectoralpha.in/stocks/hindustan-petroleum-corporation-ltd) HINDPETRO · basing · Most evidence points down · 93% evidence 34.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 5.8/35 · Revenue 16.9% · Profit -80% · Operating margin change 0 points · 100% evidence Capital efficiency 12.3/25 · ROCE 22.2% · Operating margin 7% · 100% evidence Valuation 13.5/20 · P/E 50.4× · PEG 0.51 · 65% evidence Relative strength 2.6/20 · Lead over its industry -18.8% · Lead over NIFTY 500 -10.2% · 1 year -28.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 5.8 + 12.3 + 13.5 + 2.6 = 34.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Refineries](https://www.sectoralpha.in/sectors/refineries), all 7 compared on one page. ## Which companies are close to Indian Oil in size? Indian Oil is the 2nd largest of 7 Refineries companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Reliance Industries. Just below it: Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Mangalore Refinery And Petrochemicals, Chennai Petroleum Corporation and Gandhar Oil Refinery (India). ### Refineries companies close in size

1. [Reliance Industries Ltd](https://www.sectoralpha.in/stocks/reliance-industries-ltd) ₹15,76,405 crore
2. Indian Oil Corporation Ltd ₹1,83,788 crore
3. [Bharat Petroleum Corporation Ltd](https://www.sectoralpha.in/stocks/bharat-petroleum-corporation-ltd) ₹1,23,604 crore
4. [Hindustan Petroleum Corporation Ltd](https://www.sectoralpha.in/stocks/hindustan-petroleum-corporation-ltd) ₹72,463 crore
5. [Mangalore Refinery And Petrochemicals Ltd](https://www.sectoralpha.in/stocks/mangalore-refinery-and-petrochemicals-ltd) ₹30,346 crore
6. [Chennai Petroleum Corporation Ltd](https://www.sectoralpha.in/stocks/chennai-petroleum-corporation-ltd) ₹22,508 crore
7. [Gandhar Oil Refinery (India) Ltd](https://www.sectoralpha.in/stocks/gandhar-oil-refinery-indialtd) ₹2,444 crore

[All 7 Refineries companies, largest first](https://www.sectoralpha.in/sectors/refineries#all-companies)

### Companies close in size in other industries

1. [Shriram Finance Ltd](https://www.sectoralpha.in/stocks/shriram-finance-ltd) ₹1,93,694 crore · Finance & Investments - CV Finance
2. [Interglobe Aviation Ltd](https://www.sectoralpha.in/stocks/interglobe-aviation-ltd) ₹1,88,600 crore · Air Transport Service
3. Indian Oil Corporation Ltd ₹1,83,788 crore
4. [Tech Mahindra Ltd](https://www.sectoralpha.in/stocks/tech-mahindra-ltd) ₹1,75,535 crore · IT - Software
5. [Torrent Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/torrent-pharmaceuticals-ltd) ₹1,75,479 crore · Pharma - Formulators

## What else do people ask about Indian Oil? ### What is Indian Oil's share price today? Indian Oil Corporation Ltd's share price is ₹142.03, −16.0% over the past year. The whole company is worth ₹2,00,795 Cr on the market. In the last 52 weeks it traded between ₹126 to ₹187; today it is 26% of the way up from the low, 0.3% above its 200-day average (as of 4 November 2026). ### What were Indian Oil's latest quarterly results? Indian Oil Corporation Ltd reported revenue of ₹2,53,967 Cr and net profit of ₹22,503 Cr for the Sep 2026 quarter. Revenue rose 42.2% and profit rose 174.7% compared with a year earlier. Earnings per share were ₹15.16. The operating margin was 13.0%, 4.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Indian Oil's market cap? Indian Oil Corporation Ltd's market capitalisation is ₹2,00,795 Cr at a share price of ₹142.03. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Indian Oil performing? Indian Oil Corporation Ltd's share price has been falling for 28 weeks. In its latest quarter, revenue rose 42.2% and profit rose 174.7% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 4 November 2026). ### Will Indian Oil's share price go up? This page does not forecast Indian Oil Corporation Ltd's share price. What it shows instead: the share price is ₹142.03, and it has been falling for 28 weeks. Its P/E of 4.3× is higher than 6% of its own last 11 years (as of 4 November 2026). ### Who owns Indian Oil? Promoters own 51.5% of Indian Oil Corporation Ltd, foreign institutions 8.6%, domestic institutions 9.9% and the public 10.4% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 4 November 2026). ### Where is Indian Oil in its business cycle? Indian Oil Corporation Ltd's FY26 operating margin was 10.0%, against a 13-year range of 2.4% to 11.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 13.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Indian Oil story? The main question: yearly earnings per share moved +209.6% while the share price moved −16.0%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Indian Oil a stock worth studying right now? What the numbers show: Indian Oil Corporation Ltd's earnings have grown faster than its share price. Earnings per share grew +209.6% in a year while the price moved −16.0%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Indian Oil share price forecast for 2026? What management itself guided: Capital spending goal ₹32,700 crore for this FY across all verticals. ### Where does this page get Indian Oil's management information? From Indian Oil's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india
- Oil & gas stocks: https://www.sectoralpha.in/sectors/oil-and-gas-stocks-india

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