Indian Oil Corp. Ltd. (IN:IOC)
:IOC
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Indian Oil Corp. Ltd.
(IOC)
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Rating:68Neutral
Price Target:
₹158.00
▲(8.33% Upside)
Action:DowngradedDate:11/12/25
Indian Oil Corp. Ltd. scores well due to strong financial performance and reasonable valuation. However, technical indicators suggest caution due to overbought conditions, which could lead to a short-term pullback. The absence of earnings call data and corporate events limits further insights.
Positive Factors
Integrated value chain & nationwide network
IOC's vertical integration across refining, marketing, pipelines and petrochemicals creates durable competitive advantages: it captures margins at multiple stages, benefits from scale in procurement and distribution, and secures stable volumes via an extensive retail and pipeline footprint, supporting resilient revenue over time.
Negative Factors
Negative free cash flow
Negative FCF driven by heavy capital expenditure creates persistent cash deployment pressure. Over months this can constrain liquidity for dividends, debt reduction or strategic spending unless operating cash conversion increases or external financing is raised, raising medium-term funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated value chain & nationwide network
IOC's vertical integration across refining, marketing, pipelines and petrochemicals creates durable competitive advantages: it captures margins at multiple stages, benefits from scale in procurement and distribution, and secures stable volumes via an extensive retail and pipeline footprint, supporting resilient revenue over time.
Read all positive factors
Indian Oil Corp. Ltd. (IOC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.06T
Dividend Yield4.9%
Average Volume (3M)690.79K
Price to Earnings (P/E)4.4
Beta (1Y)1.22
Revenue Growth1.30%
EPS Growth240.73%
CountryIN
Employees30,321
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)9.44
Shares Outstanding14,121,238,000
10 Day Avg. Volume815,365
30 Day Avg. Volume690,788
Financial Highlights & Ratios
PEG Ratio-0.20
Price to Book (P/B)0.97
Price to Sales (P/S)0.24
P/FCF Ratio-1.20K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹165.00Price Target Upside13.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)17.85
Revenue Forecast (FY)₹8.29T
Indian Oil Corp. Ltd. Business Overview & Revenue Model
Company Description
Indian Oil Corporation Limited, together with its subsidiaries, engages in the refining, pipeline transportation, and marketing of petroleum products in India. It is also involved in the exploration and production of crude oil and gas, and petroch...
How the Company Makes Money
IOC primarily makes money by converting crude oil and other feedstocks into higher-value petroleum products and selling them through multiple channels, along with earnings from petrochemicals and midstream infrastructure.
1) Refining (manufacturi...
Indian Oil Corp. Ltd. Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.60T | 7.58T | 7.76T | 8.42T | 5.89T | 3.64T |
| Gross Profit | 1.04T | 939.97B | 1.31T | 880.81B | 974.01B | 846.27B |
| EBITDA | 546.68B | 382.60B | 767.68B | 380.98B | 475.77B | 394.27B |
| Net Income | 248.70B | 135.98B | 417.30B | 97.92B | 251.02B | 216.38B |
Balance Sheet | ||||||
| Total Assets | 5.16T | 5.07T | 4.82T | 4.42T | 4.11T | 3.55T |
| Cash, Cash Equivalents and Short-Term Investments | 128.02B | 136.00B | 135.39B | 151.94B | 100.15B | 110.02B |
| Total Debt | 1.47T | 1.52T | 1.33T | 1.49T | 1.32T | 1.17T |
| Total Liabilities | 3.15T | 3.16T | 2.94T | 2.99T | 2.75T | 2.42T |
| Stockholders Equity | 1.97T | 1.86T | 1.83T | 1.40T | 1.34T | 1.12T |
Cash Flow | ||||||
| Free Cash Flow | 166.68B | -1.51B | 339.23B | -29.56B | 15.33B | 260.29B |
| Operating Cash Flow | 327.48B | 346.99B | 710.99B | 296.44B | 245.70B | 498.62B |
| Investing Cash Flow | -173.26B | -318.48B | -314.64B | -280.30B | -211.78B | -242.45B |
| Financing Cash Flow | -155.35B | -34.25B | -393.85B | -17.94B | -29.97B | -262.70B |
Indian Oil Corp. Ltd. Technical Analysis
Neutral
145.85
Price Trends
158.66
Negative
158.67
Negative
150.76
Negative
Market Momentum
-3.85
Negative
48.60
Neutral
92.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IOC, the sentiment is Neutral. The current price of 145.85 is above the 20-day moving average (MA) of 140.79, below the 50-day MA of 158.66, and below the 200-day MA of 150.76, indicating a neutral trend. The MACD of -3.85 indicates Negative momentum. The RSI at 48.60 is Neutral, neither overbought nor oversold. The STOCH value of 92.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:IOC.
Indian Oil Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹1.36T | 5.71 | ― | 4.73% | 0.48% | 79.19% | |
76 Outperform | ₹148.51B | 4.89 | ― | 0.55% | 7.22% | 1349.42% | |
68 Neutral | ₹2.06T | 4.41 | ― | 4.90% | 1.30% | 240.73% | |
66 Neutral | ₹302.15B | 16.38 | ― | 2.04% | -6.35% | 3324.95% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | ₹18.48T | 22.51 | ― | 0.35% | 9.59% | 15.97% | |
58 Neutral | ₹810.81B | 6.62 | ― | 3.26% | -0.61% | 155.36% |
* Energy Sector Average
IN:IOC
Indian Oil Corp. Ltd.
145.40
18.08
14.20%
IN:BPCL
Bharat Petroleum Corporation Limited
307.70
15.24
5.21%
IN:CHENNPETRO
Chennai Petroleum Corporation Limited
1,072.05
456.79
74.24%
IN:HINDPETRO
Hindustan Petroleum Corporation Limited
379.65
2.61
0.69%
IN:MRPL
Mangalore Refinery & Petrochemicals Ltd.
173.70
42.62
32.51%
IN:RELIANCE
Reliance Industries Limited
1,388.90
-5.83
-0.42%
Indian Oil Corp. Ltd. Corporate Events
Indian Oil Reports New Hydrocarbon Find in Libyan Exploration Block
Apr 27, 2026
Indian Oil Corporation Ltd. said it holds a 25% participating interest in an Indian consortium with Oil India Ltd. that is exploring onshore Block Area 95/96 in the Ghadames Basin in south‑western Libya, a well‑known hydrocarbon provin...
Indian Oil Announces Board Change as Government-Deputed Director Steps Down
Apr 20, 2026
Indian Oil Corporation Ltd. has announced a change in its board composition following the cessation of directorship of Ms. Esha Srivastava. She has stepped down from the board with effect from 20 April 2026 after completing her central deputation ...
Indian Oil Announces Retirement of Two Senior Executives
Mar 1, 2026
Indian Oil Corporation Limited has announced changes in its senior management, with two executives at one level below the board superannuating from the company effective 28 February 2026. Executive Director in charge of the Western Region Office, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.