Refines crude oil into petroleum products such as gasoline, diesel, LPG and jet fuel, and markets them to retail, transport and industrial customers in India. Petroleum Products is the dominant segment, accounting for 91.5% of segment revenue, followed by Gas (4.8%), Petrochemicals (3.1%) and Other Business Activities (0.6%). The Paradip refinery recorded its highest-ever crude processing of 16.35 MMT in FY26, and Q1 FY27 refinery throughput across the company was 19.2 MMT at 109.4% capacity utilisation. Refinery expansion projects at Panipat, Gujarat and Barauni are 89-94% complete and targeted for commissioning by late 2026. The biggest cost is raw materials, principally crude oil, at 48.1% of revenue, with other operating expenses adding another 19.9%. The company is investing heavily, with Q1 FY27 capex of Rs 6,461 crore against an FY26-27 target of Rs 32,700 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Petroleum Products (92%), Gas (5%), Petrochemicals (3%), Other Business Activities (1%). Cyclical, asset-heavy refining and marketing business
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 7,36,731 | 9,51,410 | 8,81,235 | 8,59,363 | 9,01,453 |
| EBITDA (ex other income) | 47,742 | 30,699 | 75,591 | 37,829 | 77,062 |
| margin % | 6.5 | 3.2 | 8.6 | 4.4 | 8.5 |
| Owners' profit | 25,102 | 9,792 | 41,730 | 13,598 | 42,096 |
| EPS, as reported (₹) | 27.34 | 7.11 | 30.30 | 9.87 | 30.57 |
| ROE % · ROCE % | 19.0 · 17.6 | 8.2 · 9.2 | 22.9 · 23.9 | 7.2 · 8.9 | 19.4 · 19.8 |
| Debt / equity (x) | 0.98 | 1.04 | 0.70 | 0.80 | 0.58 |
| Cash from operations | 24,570 | 29,644 | 71,099 | 34,699 | 76,142 |
| Capex | (22,804) | (32,600) | (37,175) | (34,850) | (28,363) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,98,616 | 2,19,522 | 2,21,360 | 2,21,849 | 2,06,447 | 2,36,257 | 2,36,899 | 2,81,933 |
| Profit before tax | (1,264) | 2,532 | 9,765 | 7,602 | 10,392 | 17,360 | 19,142 | (1,630) |
| Net profit | (449) | 2,147 | 8,368 | 6,808 | 8,191 | 13,502 | 15,176 | (1,141) |
| EPS (₹) | (0.12) | 1.54 | 5.90 | 4.95 | 5.68 | 9.44 | 10.50 | (1.18) |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Petroleum Products | 8,42,195 | 91.5 |
| Petrochemicals | 28,102 | 3.1 |
| Gas | 44,512 | 4.8 |
| Other Business Activities | 5,288 | 0.6 |
| Total, before eliminations | 9,20,097 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| RELIANCE INDUSTRIES LTD |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Sept 2026 · IOC shareholders approve amendment to MoA and new Articles of Association | general | medium | — | — |
| 1 Sept 2026 · IOC 67th AGM: All 9 resolutions passed; Re 1.25 dividend declared | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Two IOC senior executives retire on superannuation | management changes | medium | — | — |
| 31 Aug 2026 · IOC 67th AGM: Rs 1.25 dividend declared, 9 resolutions tabled | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · IOC receives fines from BSE and NSE for board composition non-compliance | regulatory legal | medium | — | — |
| 11 Aug 2026 · IOCL publishes notice of 67th AGM in newspapers | compliance | minimal | — | — |
| 7 Aug 2026 · IndianOil Integrated Annual Report 2025-26 filed | board shareholder meetings | medium | — | — |
| 7 Aug 2026 · IOC files BRSR for FY 2025-26 with sustainability highlights | compliance | low | — | — |
| 7 Aug 2026 · IndianOil 67th AGM on Aug 31, 2026 via VC - final dividend Rs 1.25/sh, director changes | board shareholder meetings | low | — | — |
| 7 Aug 2026 · IOC posts transcript of Q1 FY27 analyst conference call | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 17,01,775 |
| 22.8 |
| 1.57 |
| 9.3 |
| 8.8 |
| 7.5 |
| 17.2 |
| 17.3 |
| INDIAN OIL CORP LTD ◆ | 1,90,792 | 5.5 | 0.85 | 4.0 | 19.4 | 17.1 | 11.6 | 1.6 |
| BHARAT PETROLEUM CORP LT | 1,30,100 | 7.6 | 1.30 | 3.9 | 25.8 | 23.2 | 11.4 | (0.6) |
| HINDUSTAN PETROLEUM CORP | 74,899 | 44.8 | 1.14 | 3.8 | 27.5 | 19.3 | 12.1 | (10.7) |
| MRPL | 30,741 | 9.8 | 2.17 | 6.9 | 13.6 | 15.7 | 15.6 | 4.5 |
| CHENNAI PETROLEUM CORP LT | 23,379 | 5.6 | 2.10 | 5.1 | 27.9 | 31.9 | 13.4 | 5.4 |
| SANMIT INFRA LIMITED | 791 | 178.9 | 20.48 | — | 5.1 | 6.1 | — | 10.2 |
| RAJASTHAN SECURITIES LIMITED | 445 | 3.5 | 3.80 | — | 69.3 | 88.6 | — | 119.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.5 | 7.6 | 4 of 13 | 75% |
| P/B | 0.8 | 1.8 | 3 of 12 | 82% |
| ROCE | 17.1 | 16.4 | 6 of 12 | 55% |
| ROE | 19.4 | 13.6 | 5 of 11 | 60% |
| Debt / Equity | 0.6 | 0.4 | 9 of 12 | 27% |
| EBITDA margin | 1.6 | 5.4 | 8 of 11 | 30% |
| Revenue growth | 27.1 | 24.2 | 3 of 8 | 71% |
| Profit growth | (116.8) | 4.3 | 7 of 9 | 25% |
| Market cap | 190792 | 791 | 2 of 13 | 92% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
