Explores for and produces crude oil and natural gas in India. Crude oil (including condensate) generated 30.4% of FY26 segment revenue and natural gas 11.8%, while subsidiary Numaligarh Refinery Ltd (NRL) accounted for the largest share at 55.3% from refined petroleum products. Crude output hit a record 82,222 barrels per day in April-May 2026, and FY26 oil-and-gas production was 6.64 MMT oil-equivalent on 74 wells drilled and 307 workover operations, with gas targeted to rise from 8 to 13 MMSCMD by FY28 as the Duliajan feeder line and DNPL pipeline commission. NRL is being expanded from 3 MMT to 9 MMT capacity, with first products due end-July 2026 and full commissioning by March 2027. A small pipeline transportation business (2.0% of segment revenue) carries crude; LPG (0.3%) and renewable energy (0.2%) are minor streams. Alongside upstream, the company is pursuing offshore exploration in Kerala-Konkan, Andaman and KG basins with TotalEnergies, its Mozambique LNG stake (two trains, 13 MMTPA, targeted end-2028/early-2029), 25 compressed biogas plants by 2030, and 500 CNG stations plus 1.4 million PNG connections by 2030-35. Materials made up 17.2% of revenue, other operating costs 47.4%, and depreciation 7.3%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. REFINERY PRODUCTS (55%), CRUDE OIL (Including Condensate) (30%), NATURAL GAS (12%), PIPELINE TRANSPORTATION (2%), LPG (0%), RENEWABLE ENERGY (0%). Asset-heavy upstream oil & gas producer with growing downstream refining and pipeline footprint, diversifying into renewables and biogas.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 30,011 | 41,039 | 36,304 | 36,164 | 37,050 |
| EBITDA (ex other income) | 10,500 | 15,268 | 10,139 | 11,216 | 10,446 |
| margin % | 35.0 | 37.2 | 27.9 | 31.0 | 28.2 |
| Owners' profit | 5,622 | 8,729 | 6,335 | 6,551 | 6,620 |
| EPS, as reported (₹) | 51.84 | 80.49 | 58.42 | 40.27 | 40.70 |
| ROE % · ROCE % | 20.3 · 18.2 | 23.5 · 21.5 | 13.3 · 12.0 | 12.9 · 11.8 | 11.8 · 9.1 |
| Debt / equity (x) | 0.50 | 0.44 | 0.45 | 0.55 | 0.56 |
| Cash from operations | 9,310 | 11,410 | 10,933 | 11,332 | 10,684 |
| Capex | (5,968) | (8,525) | (12,063) | (12,969) | 0 |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8,136 | 9,089 | 9,588 | 8,750 | 9,175 | 9,111 | 10,013 | 12,886 |
| Profit before tax | 2,400 | 2,053 | 2,465 | 1,780 | 1,844 | 2,134 | 2,702 | 5,142 |
| Net profit | 2,069 | 1,457 | 1,497 | 2,047 | 1,644 | 1,436 | 2,424 | 4,027 |
| EPS (₹) | 12.40 | 8.23 | 8.05 | 11.66 | 8.78 | 7.35 | 12.91 | 22.32 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| CRUDE OIL (Including Condensate) | 4,407 | 9.2 |
| NATURAL GAS | 2,749 | 5.8 |
| REFINERY PRODUCTS | 13,669 | 28.6 |
| LPG | 166 | 0.3 |
| PIPELINE TRANSPORTATION | 334 | 0.7 |
| RENEWABLE ENERGY | 37 | 0.1 |
| CRUDE OIL | 3,266 | 6.8 |
| Crude Oil | 6,824 | 14.3 |
| Natural Gas | 2,888 | 6.0 |
| Refinary Products | 12,724 | 26.7 |
| Pipeline Transportation | 602 | 1.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · CAG appoints Joint Statutory Auditors for Oil India FY 2026-27 | management changes | medium | — | — |
| 31 Aug 2026 · Oil India ED Finance Jyotirmoy Bhattacharya to superannuate 31 Aug 2026 | management changes | medium | — | — |
| 30 Aug 2026 · OIL arm signs MoUs with Haryana for waste-to-energy projects | strategic transactions | medium | — | — |
| 26 Aug 2026 · NSE and BSE fine Oil India Rs 9.66 lakh each for board composition non-compliance | regulatory legal | high | — | — |
| 25 Aug 2026 · Oil India files Business Responsibility and Sustainability Report for FY26 | compliance | medium | — | — |
| 25 Aug 2026 · Notice of 67th AGM and Integrated Annual Report FY 2025-26 | board shareholder meetings | medium | — | — |
| 25 Aug 2026 · Oil India 67th AGM on Sep 17: Rs 1 dividend, capital hike to Rs 5000 cr | board shareholder meetings | low | — | — |
| 22 Aug 2026 · Oil India files newspaper publication of 67th AGM notice and record date | compliance | minimal | — | — |
| 19 Aug 2026 · Oil India fixes 4 Sep 2026 as record date for final dividend FY26 | corporate actions | high | — | — |
| 19 Aug 2026 · Oil India sets record date for FY26 final dividend, 67th AGM announced | corporate actions | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| Renewable Energy | 74 | 0.2 |
| Total, before eliminations | 47,739 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| OIL AND NATURAL GAS CORP. | 2,92,492 | 6.7 | 0.71 | 3.8 | 12.2 | 10.4 | 12.9 | 9.1 |
| OIL INDIA LTD ◆ | 79,671 | 9.5 | 1.25 | 9.2 | 11.8 | 7.9 | 10.5 | 47.7 |
| ANTELOPUS SELAN ENRGY LTD | 4,009 | 30.2 | 6.12 | — | 13.7 | 15.8 | — | 63.5 |
| PRABHA ENERGY LIMITED | 3,452 | 2680.0 | 7.95 | 3853.7 | 0.1 | 0.1 | — | 25.0 |
| HINDUSTAN OIL EXPLORATION | 2,449 | 97.5 | 1.77 | 17.0 | 4.5 | 3.8 | 18.2 | 20.4 |
| GUJARAT NATURAL RES L | 1,602 | 137.4 | 7.69 | 79.0 | 4.7 | 6.2 | 30.4 | 44.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.5 | 26.6 | 2 of 16 | 93% |
| P/B | 1.3 | 2.1 | 5 of 16 | 73% |
| ROCE | 7.9 | 6.4 | 8 of 17 | 56% |
| ROE | 11.8 | 8.5 | 5 of 16 | 73% |
| Debt / Equity | 0.6 | 0.1 | 15 of 16 | 7% |
| EBITDA margin | 47.7 | 28.0 | 4 of 15 | 79% |
| Revenue growth | 47.3 | 45.2 | 7 of 15 | 57% |
| Profit growth | 96.8 | 37.6 | 6 of 16 | 67% |
| Market cap | 79671 | 2449 | 2 of 17 | 94% |
| A state: the latest filed quarter and the measured reactions |
| 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.
