Oil India Ltd (OIL) — share price & stock analysis

Market cap

₹68,285 Cr

P/E

10.3×

ROE

12.3%

vs own 10-yr valuation

66th pctile

Book value / share

₹357

EPS (TTM)

₹40.8

10-yr median P/E

8.8×

Revenue (FY26)

₹33,946 Cr

Profit after tax (FY26)

₹7,551 Cr

Weinstein stage

Stage 2 (22 weeks)

Data as of

1 July 2026

3 of the 6 things we track are currently moving the right way — most of the dashboard is turning up.

Where the levels actually stand: ROCE 12% — decent; debt moderate (0.65× equity); margins near the bottom of their band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

The price has run ahead of the profits

Since Mar 2016, the stock is up 298% while earnings per share grew 231%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps

That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.

Today’s P/E of 10.3× is the middle of its own range against its own 10-year history (66th percentile) — neither a bargain nor a stretch, by its own standards.pe_ratio

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (8.8×).

The price is in a confirmed uptrend — 22 weeks and counting

Stock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 2: advancing, 22 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹452 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Trailing NIFTY 500 for 7 weeks — relative strength is the market’s live opinion, and right now it is against it.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

A lumpy ride — no clean trend in profits

Over 12 years, sales went from ₹9,690 Cr to ₹33,946 Cr (about 11% a year), and profit from ₹2,990 Cr to ₹7,551 Cr.revenuenet_profit

Sales have gone quiet — growth has stalled

Mar 26 sales were ₹9,293 Cr, up 6% on the same quarter last year.revenue

Margins are widening — 29% → 35% in a year

Of every ₹100 of sales, the company keeps ₹35.3 as operating profit (a year ago it kept ₹29.4).opm_pct

The gross margin moved the same way (76% → 85%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 62% — mostly from keeping more of each sale

Mar 26 profit after tax was ₹2,424 Cr, up 62% year on year.net_profit

A caution: a meaningful slice of this jump came from income outside the core business — that is lower-quality profit and may not repeat.other_income

The profits are real — they turn into cash

Over the last 5 profitable years, the business reported ₹38,144 Cr of profit and collected ₹53,669 Cr of operating cash — about 141% conversion.operating_cash_flownet_profit

One asterisk on that strength: suppliers are being paid 72 days later than a year ago (112 → 184 days). Cash flattered by stretching payables is real cash — but it is borrowed timing, not extra earning power.payable_days

The cash cycle looks tighter — but it is supplier credit doing the work

One rupee now takes about 165 days to go out the door as materials and come back as collected cash — down from 190 days the year before.cash_conversion_cycle

Look inside the improvement, though: suppliers are being paid 72 days later (112 → 184 days), while inventory actually got heavier (264 → 301 days). Supplier credit is funding the cycle — useful, but not the same thing as customers paying faster.payable_daysinventory_days

Building hard — new capacity is under construction

The productive asset base has gone from ₹11,201 Cr (FY14) to ₹28,271 Cr, with another ₹37,644 Cr of capacity under construction right now.fixed_assetscwip

Work-in-progress is 133% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip

The build is bigger than the cash engine: investing outflows (₹36,496 Cr) exceeded operating cash (₹32,949 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

Debt is present but comfortable

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹65 — total borrowings have grown from ₹10,146 Cr to ₹37,478 Cr over the window.borrowings

Every ₹100 kept in the business earns ₹12 — decent, not special

Return on capital employed is 12.0% (a year ago: 13.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

The owners aren’t moving

Promoters hold 56.7%, essentially unchanged. Foreign funds own 7.7%, domestic funds 19.4%.promoters_pctfiis_pctdiis_pct

Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.

Meanwhile foreign funds have been the sellers — from 11.0% to 7.7% over the window. Someone on the other side of the table disagrees; both sides count.fiis_pct

Interesting, not obvious

The numbers are genuinely mixed, and the price already assumes the good news continues.

Best thing in the data: free cash flow rising (₹−2,182 Cr → ₹303 Cr).operating_cash_flow

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data