Audited Financial Result (Standalone and Consolidated) for the quarter and year ended 31st March 2026
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Indian Oil Corporation reported standalone net profit of ₹36,802 crore for FY2026, a sharp jump from ₹12,962 crore in FY2025, driven by government compensation of ₹14,486 crore for LPG under-recoveries and higher petroleum segment profits. Revenue grew 4.8% to ₹8.86 lakh crore. The board recommended final dividend of ₹1.25 per share (12.5%). Auditors issued unmodified opinion but highlighted Emphasis of Matter regarding crude and LPG shipments delayed in the Arab/Persian Gulf due to Middle East geopolitical developments. Impairment losses of ₹2,432 crore were recognized on non-fossil fuel CGUs and investment in IndOil Global BV. The company lacked required Independent Directors throughout FY2026, leading to discontinuation of Audit, Nomination & Remuneration, and CSR Committees from March 2026.
Strong profit growth reflects one-time government compensation; underlying operational performance improved but flag governance concerns around board composition and ongoing geopolitical supply risks.