Indian Oil Corporation Ltd
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]
- Market Cap ₹ 1,98,827 Cr.
- Current Price ₹ 141
- High / Low ₹ 197 / 97.4
- Stock P/E 13.5
- Book Value ₹ 123
- Dividend Yield 8.52 %
- ROCE 20.5 %
- ROE 25.3 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.14 times its book value
- Stock is providing a good dividend yield of 8.52%.
- 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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: | 8% |
5 Years: | 10% |
3 Years: | 16% |
1 Year: | 35% |
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% |
Documents
Announcements
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Change In Senior Management
1 Nov - Superannuation of four senior executives at Indian Oil.
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
28 Oct - Appointment of Statutory Auditors for 2024-25.
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Unaudited Financial Results (Standalone And Consolidated) For The Quarter And Half-Year Ended 30Th September 2024
28 Oct - Approved unaudited financial results for Q2 FY2024.
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Board Meeting Outcome for Unaudited Financial Results (Standalone And Consolidated) For The Quarter And Half-Year Ended 30Th September 2024
28 Oct - Approved unaudited financial results for Q2 FY2024.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 25 Oct
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from nse
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Financial Year 2011
from bse
Concalls
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Mar 2023TranscriptNotesPPT
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Mar 2022TranscriptNotesPPT
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Mar 2021TranscriptNotesPPT
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Aug 2018TranscriptPPT
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Nov 2016TranscriptPPT
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]