Oil Country Tubular Limited (OILCOUNTUB) AI Stock Analysis

• Market Cap: ₹2.45B
• Dividend Yield: N/A
• Average Volume (3M): 7.87K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: 70.45%
• EPS Growth: 35.56%
• Country: IN
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): -4.15
• Shares Outstanding: 51,989,530
• 10 Day Avg. Volume: 3,634
• 30 Day Avg. Volume: 7,873
• PEG Ratio: 0.19
• Price to Book (P/B): 1.47
• Price to Sales (P/S): 2.77
• P/FCF Ratio: 11.37
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: ₹55.00 ▼(-8.41% Downside)

Oil Country Tubular Limited is on a recovery path with improved financial performance, but ongoing net losses and high leverage are significant risks. The technical indicators suggest a bearish trend, and the valuation metrics are unattractive due to negative earnings. The absence of earnings call data and corporate events limits further insights.

Positive Factors

Revenue Growth

A ~70% revenue increase indicates strong demand recovery and expanding market share over the past year. Sustained top-line momentum supports operational leverage, funds reinvestment in capacity or R&D, and provides a platform to convert scale into durable profitability and cash generation.

Positive Operating & Free Cash Flow

Conversion to positive operating and free cash flow in 2025 materially improves financial flexibility. Durable cash generation reduces dependence on external financing, enables debt repayment or targeted capex, and underpins sustainable operations even before full GAAP profitability is achieved.

Improved Gross Margin

A structural improvement in gross margin reflects better cost control or pricing power, which is central to long-term profitability. Higher gross margin raises operating leverage, makes breakeven attainable at lower revenue thresholds, and strengthens resilience to raw-material or volume shocks.

Negative Factors

Persistent Net Losses

Ongoing net losses mean accumulated deficits and limited retained earnings, constraining reinvestment and shareholder returns. Until profitability is achieved sustainably, the company faces pressure to fund operations or growth via debt or equity, increasing dilution or refinancing risk.

High Leverage

A high debt load increases fixed financial obligations and interest expense, limiting strategic flexibility. In a capital-intensive industry, leverage raises refinancing and covenant risks, making the company vulnerable to higher rates or cyclical downturns and slowing deleveraging even as cash flow improves.

FCF Inefficiency vs Net Income

Positive free cash flow alongside net losses signals weak cash-profit alignment and indicates inefficiencies in converting sales into sustainable earnings. This gap complicates forecasting, may mask structural cost issues, and limits the firm's ability to consistently fund debt reduction or strategic investments.

Oil Country Tubular Limited Business Overview & Revenue Model

Company Description

Oil Country Tubular Limited manufactures and sells casing, tubing, and drill pipes used in the oil drilling and exploration industry in India and internationally. The company offers heavy weight drill pipes and drill collars, as well as tubing, casing, and high collapse casing products. It also provides accessories, such as rotary subs, lift plugs and subs, lifting bails, pup joints, sleeve stabilizers, tool joints, welded blade stabilizers, and couplings, as well as drill rods. In addition, the company offers services comprising tool joint hardfacing, tool joints make and break, internal plastic coating of drill pipe and tubing, drill pipe reconditioning, drill pipe re-threading, tubing and casing, and field inspection. Oil Country Tubular Limited was incorporated in 1985 and is headquartered in Hyderabad, India. Oil Country Tubular Limited is in Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016.

How the Company Makes Money

OILCOUNTUB generates revenue primarily through the sale of its tubular products to oil and gas companies, construction firms, and other industrial clients. The company's revenue model relies on bulk orders and long-term contracts with major industry players, ensuring a steady cash flow. Key revenue streams include the manufacture and distribution of OCTG, which are essential for drilling operations, as well as line pipes used for transporting oil and gas. Additionally, OILCOUNTUB may engage in strategic partnerships with oilfield service companies and other manufacturers to expand its market reach and enhance its product offerings, contributing to its overall earnings. The company also benefits from market demand fluctuations in the energy sector, which can influence pricing and sales volumes.

Oil Country Tubular Limited Financial Statement Overview

Summary

Financials indicate a recovery but not yet profitability: strong revenue growth and a sharply improved gross margin in 2025 are positives, operating and free cash flow turned positive, but the company still reports net losses and carries high leverage (high debt-to-equity), which elevates risk.

Income Statement

Oil Country Tubular Limited shows a mixed income statement performance. The company experienced a significant revenue growth from 2024 to 2025, but it still operates at a net loss. The gross profit margin improved drastically, reaching a positive territory in 2025, which indicates better cost management. However, the negative net profit margin highlights ongoing challenges in achieving overall profitability.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio, which poses a financial risk as the company relies heavily on debt financing. However, the equity position improved significantly from 2024 to 2025, suggesting a strengthening financial position. The equity ratio is improving but still needs further enhancement to ensure financial stability.

Cash Flow

The cash flow statement reflects a positive trend with improving operating cash flow and free cash flow turning positive in 2025. The company has managed to generate cash from operations, which is crucial for sustaining business operations, although free cash flow as a ratio of net income indicates inefficiency due to net losses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.22B	1.23B	182.39M	2.75M	0.00	21.47M
Gross Profit	389.92M	882.90M	-710.29M	-313.69M	-193.83M	-207.18M
EBITDA	389.57M	431.50M	10.77M	1.28B	-45.56M	-88.74M
Net Income	-308.60M	-318.61M	-704.48M	1.05B	-513.23M	-508.76M
Balance Sheet
Total Assets	0.00	3.82B	4.27B	4.97B	2.45B	2.27B
Cash, Cash Equivalents and Short-Term Investments	192.47M	192.47M	17.33M	2.75M	1.40M	270.00K
Total Debt	0.00	447.86M	902.39M	658.86M	2.23B	1.71B
Total Liabilities	-2.31B	1.51B	2.32B	2.47B	3.71B	3.02B
Stockholders Equity	2.31B	2.31B	1.95B	2.50B	-1.26B	-747.94M
Cash Flow
Free Cash Flow	0.00	299.58M	-189.97M	1.69B	-267.08M	-262.78M
Operating Cash Flow	0.00	304.94M	-189.87M	1.69B	-267.08M	-262.78M
Investing Cash Flow	0.00	-357.00K	20.89M	14.00K	322.00K	2.23M
Financing Cash Flow	0.00	-187.28M	183.67M	-1.69B	267.89M	260.53M

Oil Country Tubular Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 60.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:OILCOUNTUB, the sentiment is Negative. The current price of 60.05 is above the 20-day moving average (MA) of 52.53, above the 50-day MA of 59.21, and below the 200-day MA of 73.09, indicating a bearish trend. The MACD of -4.26 indicates Positive momentum. The RSI at 36.55 is Neutral, neither overbought nor oversold. The STOCH value of 18.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:OILCOUNTUB.

Oil Country Tubular Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SOUTHWEST	71 Outperform	₹5.88B	22.77	―	0.40%	56.33%	160.76%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
UNIDT	65 Neutral	₹3.82B	25.02	―	0.89%	-15.39%	8.75%
DEEPINDS	52 Neutral	₹23.81B	-60.55	―	0.67%	55.21%	-128.34%
ALPHAGEO	47 Neutral	₹1.34B	-8.10	―	3.53%	―	―
OILCOUNTUB	45 Neutral	₹2.45B	-6.04	―	―	70.45%	35.56%
AAKASH	45 Neutral	₹364.50M	―	―	―	-3.89%	-74.11%

Oil Country Tubular Limited Corporate Events

Oil Country Tubular Limited Corrects Financial Results for Q2 2025

Oil Country Tubular Limited announced corrections to its unaudited financial results for the quarter and half-year ended September 30, 2025. The corrections addressed typographical errors in reported figures for reserves and segment-wise revenue, which have been updated to reflect accurate financial data. These revisions are crucial for stakeholders to assess the company’s financial health accurately.