NSE/IOC

IOCIndian Oil Corporation Ltd

Oil & Gas · NSE

₹145.88+1.17%

52-wk low52-WEEK RANGE52-wk high

₹131.62+10.8% from low ·-22.2% from high₹187.47

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

IOC+160.13% · 1Y

Range high ₹196.8Range low ₹47.43Latest ₹145.88Powered by TradingView · live NSE data

Oil & GasOil & Gas Refining & MarketingLargecapMedium Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite50/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return +5.2%
· Below 200-DMA (-5.8%) — downtrend

Valuation

Low

Appears to be fairly valued to cheap vs peers.

· P/E 5.7 vs sector median 11.9 — 53% cheaper
· P/B 1.03 below sector median 1.43

Growth

Medium

Steady but not standout growth.

· Revenue YoY +5.7% — slow
· Profit YoY +513.0% — strong earnings growth

Profitability

Medium

Average profitability vs peers.

· ROE 18.1%
· Net margin 1.8% — thin margins

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeA(75/100)

Durability

80/100

Financially resilient — strong quality + solvency profile.

Show 3 drivers

Piotroski F-score8/9 (89pt)
Debt/Equity0.73 (70pt)
ROE18.1% (73pt)

Valuation

A+

98/100

Attractively valued vs peers and growth — good margin of safety.

Show 4 drivers

P/E vs sector (5.7 / 11.9)47% (100pt)
P/B1.03 (100pt)
Dividend yield6.85% (100pt)
EV/EBITDA4.9 (90pt)

Momentum

48/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change+5.2% (51pt)
DMA-trend alignmentdown (25pt)
RSI (14)48.5 (60pt)
Price vs 200-DMA-6.3% (47pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)5.66

UNDERVALUED

CheapestP/E 5.7 at 25th %ile of sector — cheaper than 75% of peers.Most expensive

P/B1.03

UNDERVALUED

CheapestP/B 1.03 at 17th %ile of sector.Most expensive

EV/EBITDA4.87

UNDERVALUED

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Apr +3.37% · Worst: Mar -1.21%

Jan

+2.9%

55% win

Feb

-1.0%

42% win

Mar

-1.2%

67% win

Apr

+3.4%

67% win

May

+2.3%

45% win

Jun

-0.7%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+1.07%

Median

+0.66%

Std dev

8.77%

Best

+24.6%

Worst

-27.8%

% positive

51%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 2

Financial quality score 8/9
Piotroski ≥7 historically associated with outperformance
Top quartile ROE in Oil & Gas
Rank 3 of 12 peers

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 2

16% upside to consensus target (₹170)
31 analysts see fair value materially higher
Attractive income yield (6.85%)
Payout ratio 31% leaves room for dividend growth

THREATS · 1

Net debt is 65% of market cap
Financing costs become material in rising-rate regimes

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+1.2%

+2.0%

-6.8%

-6.7%

-2.6%

+11.4%

+21.8%

+16.5%

10Y

+7.9%

Fundamentals

VALUATION

Market cap

₹2,07,399 Cr

P/E (TTM)

5.7

P/E (fwd)

10.2

next 12m

P/B

1.03

EV/EBITDA

4.9

Book value

₹143.20

per share

PROFITABILITY · QUALITY

ROE

18.1%

ROCE

—

Net margin

1.8%

Op margin

8.9%

Gross margin

16.4%

D/E

0.73

GROWTH · MARKET

Rev YoY

+5.7%

Profit YoY

+513.0%

Div yield

6.85%

Payout

30.8%

52w change

+5.2%

Beta

0.94

market-ish

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Trading at -52.6% vs sector median P/EP/E 5.7 vs Oil & Gas median 11.9 — relative value on earnings
+Profit growing fast (+513.0% YoY)Operating leverage kicking in — bottom line out-growing top line
+High dividend yield (6.85%)Meaningful income return even before price appreciation
++16% upside to analyst consensus target31 analysts average target of ₹170 vs current ₹147
+Top-3 ROE in Oil & Gas sectorBest-in-class profitability among 12 listed peers

CONS · 0

No material concerns surface from the ratios alone — still layer qualitative research.

Sector-relative context

Oil & Gas · 12 peers

P/E (TTM)

This stock

5.66

Sector median

11.92

Rank 3/12 (83th %ile)

ROE

This stock

18.1%

Sector median

13.3%

Rank 10/12 (25th %ile)

P/B

This stock

1.03

Sector median

1.43

Rank 2/12 (92th %ile)

Quality score · Piotroski F-score

8 / 9

Strong quality — passes most F-score checks

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Analyst consensus

31 analysts · BUY

Target mean

₹169.74

Target high

₹225.00

Target low

₹100.00

Upside vs today

+15.6%

Street consensus target is +15.6% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Oil & Gas Refining & Marketing

Employees

29,941

Shares out

1,412.1

Revenue (TTM)

₹7,71,396 Cr

EBITDA

₹69,738 Cr

Total debt

₹1,46,681 Cr

Cash

₹12,802 Cr

Net debt

₹1,33,879 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	1,74,976	1,94,014	1,91,732	1,92,341	2,05,157
Operating profit	-767	3,274	13,278	9,089	18,752
OPM %	-0.4%	1.7%	6.9%	4.7%	9.1%
Interest	2,546

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	5,86,033	8,27,547	7,72,842	7,54,568
Operating profit	37,190	25,914	61,345	21,842
OPM %	6.3%	3.1%	7.9%	2.9%
Interest	4,297	6,647	7,584	8,492

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
IOCTHIS Indian Oil Corporation Limited	₹145.88	+5.2%	2,07,399	5.7	1.03	18.1%	0.73	+5.7%
RELIANCE Reliance Industries Limited	₹1,365	+5.4%	18,44,882	22.2	2.10	9.5%	0.36	+10.4%
ONGC Oil & Natural Gas Corporation Limited	₹284.05	+13.7%	3,56,462	9.4	0.97	10.3%	0.44	+0.8%
BPCL Bharat Petroleum Corporation Limited	₹312.1	+2.6%	1,37,118	5.5	1.44	26.2%	0.56	+5.2%
GAIL GAIL (India) Limited	₹157.82	-19.2%	1,03,689	12.1	1.18	9.7%	0.25	-4.5%
HINDPETRO Hindustan Petroleum Corporation Limited	₹370.85	-6.1%	80,751	5.2	1.42	27.1%	1.11	+4.1%
OIL Oil India Limited	₹470.1	+18.8%	76,182	13.1	1.35	—	0.58	-0.1%
PETRONET Petronet LNG Limited	₹273.22	-12.9%	40,739	11.2	1.93	—	0.12	-3.3%
GUJGASLTD Gujarat Gas Limited	₹362.8	-19.4%	25,274	21.8	2.89	13.3%	1.19	+5.1%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	7.88	9.44	+19.8%
-2q	4.00	5.68	+42.1%
-3q	6.52	4.95	-24.0%
-4q	13.27	5.90	-55.5%

Date	Amount
2026-03-12	₹2.00
2025-12-18	₹5.00
2025-08-08	₹3.00
2024-07-12	₹7.00
2023-11-10	₹5.00
2023-07-28	₹3.00
2022-08-11	₹2.40
2022-02-09	₹2.67
2021-11-11	₹3.33
2021-08-05	₹1.00
2021-03-23	₹2.00
2021-02-09	₹5.00
2020-03-23	₹2.83
2019-08-21	₹0.67
2019-03-27	₹1.00
2018-12-21	₹4.50
2018-08-20	₹1.33
2018-02-08	₹6.33
2017-08-18	₹0.33
2017-03-24	₹1.50

Date	Ratio
2022-06-30	3:2
2018-03-15	2:1
2016-10-18	2:1

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	9,181	13,772	13,772	13,772
Borrowings	1,32,020	1,48,977	1,32,628	1,52,271
Other liabilities	440	501	529	700
Total liabilities	4,10,625	4,41,718	4,82,362	5,06,867
Fixed assets	2,02,598	2,25,716	2,51,792	2,73,871
CWIP	45,403	49,184	59,632	76,709
Investments	28,005	23,717	37,065	35,458
Other assets	3,690	4,071	4,951	6,161
Total assets	4,10,625	4,41,718	4,82,362	5,06,867

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	25,747	29,644	71,146	34,699
CF Investing	-21,294	-28,030	-31,512	-31,848
CF Financing	-4,058	-1,794	-39,385	-3,425
Net cash flow	395	-180	250	-573
Free cash flow	2,290	-3,206	33,971	-151

IOCIndian Oil Corporation Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Oil & Gas

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

SWOT analysis

Recent news

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Oil & Gas