Indian Oil Corporation Ltd

I O C L Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indian Oil Corporation Ltd

₹ 131 -1.81%
21 Nov - close price
iocl.com BSE: 530965 NSE: IOC
About

Indian Oil Corporation Ltd is a Maharatna Company controlled by GOI[1] that has business interests straddling the entire hydrocarbon value chain - from Refining, Pipeline transportation and marketing of Petroleum products to R&D, Exploration & production, marketing of natural gas and petrochemicals. It has the leadership position in the Oil refining & petroleum marketing sector of India.[2]

Key Points

Business Segments
1) Petroleum Products (94% in Q1 FY25 vs 95% in FY22): [1] [2] IOC has a 42% market share in Petroleum Oil and Lubricants with over 60,900 touch points. It owns 11 refineries across India with a total capacity of 80.80 MMTPA (including 10.5 MMTPA of subsidiaries), possessing 31% of the total refining capacity of India. [3] The company (ex-subsidiaries) achieved a crude throughput of 73 MMT in FY24 compared to 68 MMT in FY22. The segment revenue grew by 19% between FY22 and FY24. The refinery capacity utilization was 105% in FY24 vs 97% in FY22. [4]

Website BSE NSE
  • Market Cap ₹ 1,84,579 Cr.
  • Current Price ₹ 131
  • High / Low ₹ 197 / 100
  • Stock P/E 12.5
  • Book Value ₹ 123
  • Dividend Yield 9.18 %
  • ROCE 20.5 %
  • ROE 25.3 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 1.06 times its book value
  • Stock is providing a good dividend yield of 9.18%.
  • Company has delivered good profit growth of 18.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 46.6%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Refineries Industry: Refineries

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 BSE PSU

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
135,410 166,785 177,287 224,249 207,485 204,740 202,994 197,527 179,740 199,104 197,978 193,236 173,848
124,790 156,926 165,660 222,894 205,525 201,147 187,654 175,363 158,427 183,615 187,543 184,601 170,075
Operating Profit 10,621 9,859 11,628 1,356 1,960 3,593 15,340 22,164 21,313 15,489 10,435 8,635 3,772
OPM % 8% 6% 7% 1% 1% 2% 8% 11% 12% 8% 5% 4% 2%
1,441 1,379 952 687 2,198 1,715 1,638 688 982 1,453 1,657 534 2,532
Interest 986 979 1,607 1,725 1,441 1,953 1,812 1,626 1,846 1,832 2,023 1,960 2,414
Depreciation 2,706 2,779 2,887 2,847 2,962 3,099 2,952 3,152 3,280 4,341 3,736 3,756 3,718
Profit before tax 8,370 7,480 8,085 -2,529 -244 257 12,215 18,074 17,170 10,768 6,332 3,453 173
Tax % 24% 22% 26% -21% 12% -75% 18% 24% 24% 25% 24% 23% -4%
6,360 5,861 6,022 -1,993 -272 448 10,059 13,750 12,967 8,063 4,838 2,643 180
EPS in Rs 4.50 4.15 4.26 -1.41 -0.19 0.32 7.12 9.74 9.18 5.71 3.43 1.87 0.13
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
447,096 473,210 437,524 347,176 359,942 424,039 527,701 485,660 378,058 598,149 839,472 774,349 764,165
433,289 457,429 427,348 327,478 328,134 384,311 493,844 466,811 339,964 554,888 817,197 704,912 725,834
Operating Profit 13,807 15,781 10,176 19,698 31,809 39,727 33,857 18,850 38,093 43,262 22,275 69,437 38,331
OPM % 3% 3% 2% 6% 9% 9% 6% 4% 10% 7% 3% 9% 5%
3,521 5,025 5,806 5,053 4,201 3,415 3,129 -7,750 4,551 4,334 6,235 4,781 6,176
Interest 6,479 5,121 3,458 3,106 3,465 3,511 4,344 6,028 3,124 4,857 6,953 7,364 8,230
Depreciation 5,201 5,760 4,529 4,819 6,223 7,067 7,514 8,766 9,804 11,006 11,859 14,510 15,551
Profit before tax 5,648 9,926 7,995 16,827 26,321 32,564 25,127 -3,694 29,716 31,733 9,698 52,344 20,726
Tax % 11% 29% 34% 33% 27% 34% 33% -136% 27% 24% 15% 24%
5,005 7,019 5,273 11,242 19,106 21,346 16,894 1,313 21,836 24,184 8,242 39,619 15,724
EPS in Rs 3.44 4.82 3.62 7.72 13.12 14.65 11.96 0.93 15.46 17.13 5.84 28.06 11.14
Dividend Payout % 30% 30% 30% 30% 47% 93% 52% 297% 50% 48% 50% 42%
Compounded Sales Growth
10 Years: 5%
5 Years: 8%
3 Years: 27%
TTM: -3%
Compounded Profit Growth
10 Years: 21%
5 Years: 18%
3 Years: 22%
TTM: -60%
Stock Price CAGR
10 Years: 9%
5 Years: 9%
3 Years: 16%
1 Year: 29%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 18%
Last Year: 25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 2,428 2,428 2,428 2,370 4,739 9,479 9,414 9,181 9,181 9,181 13,772 13,772 13,772
Reserves 58,696 63,564 65,542 85,765 94,989 100,692 99,476 84,588 101,319 122,105 120,986 162,943 160,506
80,834 86,218 55,245 52,880 54,820 58,030 86,359 116,545 102,327 119,463 141,550 125,867 152,849
86,195 99,488 96,794 79,623 104,794 112,693 119,334 100,962 121,416 137,804 143,828 154,936 154,522
Total Liabilities 228,153 251,697 220,009 220,638 259,343 280,895 314,583 311,276 334,243 388,553 420,135 457,518 481,649
60,633 62,949 66,251 91,347 107,879 113,927 118,708 133,682 143,400 146,889 165,485 180,867 185,728
CWIP 26,230 33,879 36,324 21,025 10,738 14,348 23,599 29,738 33,052 44,446 48,991 59,066 65,968
Investments 18,671 23,594 23,899 37,181 47,305 47,488 49,940 39,139 48,619 57,787 57,519 71,088 74,855
122,619 131,275 93,534 71,084 93,421 105,131 122,336 108,718 109,172 139,432 148,140 146,497 155,097
Total Assets 228,153 251,697 220,009 220,638 259,343 280,895 314,583 311,276 334,243 388,553 420,135 457,518 481,649

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
11,611 22,050 44,529 22,944 27,799 26,457 12,422 7,190 48,784 22,791 20,985 68,097
-8,338 -17,837 -8,648 -12,417 -14,734 -15,779 -20,771 -26,882 -21,058 -20,800 -25,286 -29,702
-3,076 -2,108 -38,374 -10,367 -13,275 -10,678 8,334 20,189 -27,948 -1,595 3,954 -38,294
Net Cash Flow 196 2,105 -2,493 160 -209 1 -15 497 -222 396 -347 101

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 9 8 6 8 9 9 11 10 13 11 7 6
Inventory Days 54 56 43 49 80 70 59 56 97 75 55 64
Days Payable 27 31 27 28 39 35 31 22 42 31 23 29
Cash Conversion Cycle 36 34 21 29 50 43 39 43 68 55 38 41
Working Capital Days 38 30 6 1 -13 -4 7 6 -4 6 6 1
ROCE % 9% 9% 7% 14% 20% 22% 16% 7% 16% 16% 6% 20%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50% 51.50%
7.94% 8.36% 8.19% 7.22% 7.01% 6.91% 7.56% 7.84% 8.84% 8.49% 7.79% 7.90%
12.51% 11.32% 11.50% 11.24% 11.54% 11.92% 11.55% 10.70% 9.90% 10.23% 10.04% 10.43%
0.11% 0.11% 0.11% 19.60% 19.60% 19.60% 19.60% 19.60% 19.60% 19.57% 19.57% 19.57%
27.94% 28.71% 28.69% 10.42% 10.34% 10.06% 9.77% 10.36% 10.13% 10.18% 11.07% 10.59%
No. of Shareholders 11,45,47313,35,44314,84,84717,99,11718,17,77518,27,30317,91,34919,72,34020,65,51424,28,56127,29,16527,81,746

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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