Indian Oil Corporation quarterly results and financials

Indian Oil Corporation (IOC)₹146.85+1.21%(9 Nov 2026 close)Refineries & Marketing

Key facts

In the Sep 2026 quarter (consolidated), Indian Oil Corporation reported sales of ₹2.54 L Cr, up 42.2% from Sep 2025, and net profit of ₹22,465 Cr, up 174.8% year on year. For the year to Mar 2026, sales were ₹7.85 L Cr and net profit ₹43,555 Cr.

Sales (Sep 2026): ₹2.54 L Cr
Net profit (Sep 2026): ₹22,465 Cr
Sales (FY Mar 2026): ₹7.85 L Cr
Net profit (FY Mar 2026): ₹43,555 Cr
EPS (Sep 2026): ₹15.15
Borrowings (Mar 2026): ₹1.31 L Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Indian Oil Corporation quarterly results

₹ crore unless stated; each column is a quarter.

Indian Oil Corporation Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	2,00,135	1,98,964	1,93,969	1,75,214	1,94,401	1,95,551	1,92,630	1,78,912	2,05,466	2,08,531	2,66,895	2,54,344
Expenses	1,83,544	1,87,076	1,84,369	1,71,972	1,86,826	1,80,851	1,79,616	1,62,903	1,82,873	1,83,844	2,63,129	2,20,670
Operating Profit	16,697	11,945	9,898	3,459	7,550	14,976	13,236	16,187	22,675	24,720	4,053	33,701
OPM %	8.0%	6.0%	5.0%	2.0%	3.9%	8.0%	7.0%	9.0%	11.0%	12.0%	1.5%	13.0%
Other Income	1,917	1,687	1,103	2,558	1,938	1,520	1,734	1,357	1,629	2,426	1,144	1,323
Interest	1,966	2,154	2,087	2,554	2,466	2,187	2,079	2,279	2,094	1,887	1,737	2,509
Depreciation	4,698	4,106	4,113	4,074	4,291	4,337	4,192	4,238	4,465	5,570	4,422	4,441
Profit before tax	11,993	7,411	4,838	−588	2,764	10,031	8,745	11,103	17,825	19,767	−932	28,151
Tax %	23.0%	26.0%	23.0%	−24.0%	22.0%	17.0%	22.0%	26.0%	24.0%	23.0%	22.0%	20.0%
Exceptional items	0.00	0.00	0.00	1,153	485	0.99	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	9,201	5,474	3,715	−448	2,141	8,355	6,796	8,175	13,479	15,134	−1,139	22,465
EPS (Rs)	6.38	3.64	2.51	−0.11	1.49	5.74	4.82	5.55	9.20	10.23	−1.16	15.15

Indian Oil Corporation profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Indian Oil Corporation Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	3,46,769	3,55,894	4,21,968	5,29,057	4,84,242	3,64,645	5,90,199	8,43,387	7,77,580	7,59,199	7,85,328	9,35,236
Expenses	3,24,867	3,22,096	3,81,124	4,94,317	4,68,962	3,24,751	5,43,947	8,12,969	7,02,207	7,24,508	7,08,692	8,50,516
Operating Profit	21,984	34,053	41,556	35,149	15,996	39,824	46,518	30,577	75,460	35,914	76,847	85,150
OPM %	6.0%	10.0%	10.0%	7.0%	3.3%	11.0%	8.0%	3.6%	10.0%	4.8%	10.0%	9.1%
Other Income	5,223	4,359	4,334	4,102	−7,169	4,698	4,324	5,125	5,387	7,118	7,146	6,522
Interest	3,498	3,754	3,886	4,943	5,811	2,945	4,317	7,613	7,906	9,351	8,386	8,228
Depreciation	5,709	6,821	7,688	8,529	10,305	10,973	12,381	13,216	15,911	16,824	18,462	18,897
Profit before tax	18,049	27,920	34,433	25,903	−7,170	30,709	34,263	15,037	57,220	17,040	57,403	64,811
Tax %	31.0%	27.0%	34.0%	33.0%	−74.0%	29.1%	25.0%	22.0%	25.0%	19.0%	24.0%	—
Exceptional items	973	−73.74	20.92	−0.99	−11,046	0.99	8.97	0.00	278	2,310	549	0.00
Net Profit	12,390	20,348	22,587	17,234	−1,871	21,720	25,675	11,672	43,052	13,768	43,555	49,939
EPS (Rs)	8.24	13.62	15.21	12.30	−0.62	15.31	17.76	6.92	29.52	9.62	29.77	33.42
Dividend payout %	28.1%	45.1%	90.1%	49.1%	−436.9%	51.1%	46.1%	42.0%	40.1%	30.1%	27.1%	—

Indian Oil Corporation balance sheet

₹ crore, at each year end.

Indian Oil Corporation Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2,419	2,361	4,721	9,439	9,154	9,140	9,151	9,140	13,716	13,724	13,712	13,732
Reserves	66,352	87,643	97,395	1,04,455	1,03,300	86,205	1,02,682	1,24,332	1,25,903	1,69,627	1,72,722	2,05,855
Borrowings	64,711	58,358	63,129	65,462	96,544	1,29,454	1,16,300	1,31,683	1,48,575	1,32,309	1,51,830	1,31,441
Other Liabilities	1,00,201	83,104	1,08,136	1,16,197	1,26,199	1,04,741	1,26,655	1,45,345	1,53,262	1,66,456	1,68,620	1,77,977
Total Liabilities	2,33,683	2,31,466	2,73,382	2,95,553	3,35,198	3,29,541	3,54,787	4,10,501	4,41,455	4,82,115	5,06,883	5,29,006
Fixed Assets	76,571	99,815	1,15,746	1,23,838	1,32,310	1,46,607	1,56,774	1,60,277	1,79,613	1,95,568	2,00,583	2,08,302
CWIP	40,355	26,216	16,777	19,134	28,269	32,838	36,258	47,421	51,133	61,042	77,923	85,987
Investments	16,038	31,100	43,576	44,678	44,021	35,466	44,570	52,251	52,070	65,327	67,081	73,122
Other Assets	1,00,719	74,335	97,283	1,07,904	1,30,598	1,14,630	1,17,186	1,50,550	1,58,638	1,60,179	1,61,295	1,61,595
Inventories	50,161	42,481	65,969	70,805	77,363	67,342	83,672	1,12,136	1,21,406	1,21,710	1,14,307	1,17,548
Trade receivables	7,628	7,658	8,985	10,657	15,760	13,222	13,733	18,650	16,344	13,781	18,378	14,581
Cash & equivalents	1,230	1,054	411	498	1,065	2,307	2,485	1,828	2,106	3,171	2,654	4,434
Total Assets	2,33,683	2,31,466	2,73,382	2,95,553	3,35,198	3,29,541	3,54,787	4,10,501	4,41,455	4,82,115	5,06,883	5,29,006

Indian Oil Corporation cash flow

₹ crore, for each year.

Indian Oil Corporation Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	46,012	25,583	28,191	29,082	12,728	7,137	49,603	24,526	29,619	70,993	34,385	75,963
Cash from investing activity	−10,217	−13,599	−17,681	−17,126	−22,572	−29,118	−22,943	−21,176	−28,016	−31,501	−31,634	−22,266
Cash from financing activity	−38,382	−11,938	−10,971	−12,055	10,476	22,517	−27,478	−3,009	−1,801	−39,498	−3,431	−52,816
Net cash flow	−2,400	124	−404	−10.97	613	501	−651	394	−180	250	−608	1,193
Capex	3,839	5,267	5,444	10,520	10,324	12,325	5,468	4,935	5,606	5,003	5,100	4,003
Free cash flow	33,606	9,556	14,363	11,067	−12,733	−24,242	27,865	1,531	−2,518	34,401	82.85	48,814
CFO / OP %	458.0%	130.0%	103.0%	87.0%	52.0%	58.0%	135.0%	69.0%	101.0%	110.0%	104.0%	114.0%

Indian Oil Corporation ratios

Working-capital days and returns, by year.

Indian Oil Corporation Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	6	8	9	9	11	10	14	12	7	6	9	7
Inventory days	46	54	87	77	64	59	111	84	59	70	63	68
Days payable	30	32	42	41	35	25	50	38	28	35	35	34
Cash conversion cycle	22	30	54	45	40	44	75	58	39	41	38	40
Working capital days	−11	−19	−44	−36	−27	−45	−57	−33	−25	−32	−40	−29
ROCE %	6.0%	14.0%	20.0%	22.0%	16.0%	5.0%	15.0%	16.0%	8.0%	21.0%	7.0%	19.0%

Indian Oil Corporation: frequently asked questions

What are the latest quarterly results of Indian Oil Corporation?

For the Sep 2026 quarter, Indian Oil Corporation reported sales of ₹2.54 L Cr, up 42.2% year on year and net profit of ₹22,465 Cr, up 174.8% year on year. The operating margin was 13.0%.

What is the annual revenue of Indian Oil Corporation?

Indian Oil Corporation's sales for the year to Mar 2026 were ₹7.85 L Cr; over the last twelve months they were ₹9.35 L Cr.

What is the net profit of Indian Oil Corporation?

Net profit for the year to Mar 2026 was ₹43,555 Cr, and ₹49,939 Cr over the last twelve months. Earnings per share over the same trailing period were ₹33.42.

How much debt does Indian Oil Corporation have?

Indian Oil Corporation reported borrowings of ₹1.31 L Cr at Mar 2026, against cash and equivalents of ₹4,434 Cr.

What is the free cash flow of Indian Oil Corporation?

Cash from operations was ₹75,963 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹48,814 Cr.

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