Indian Oil Corporation Ltd (IOC) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.04%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 9.1%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 20.5%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹143.19

200-Day DMA ● Overlay

₹132.80

14-Day RSI ● Overlay

55.6 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.85 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

5.5x

Price / EPS

Book Value (₹) Assets

₹155.0

P/B: 0.9x

ROE (%) Quality

20.5%

Net Profit / Equity

ROCE (%) Efficiency

18.7%

EBIT / Capital

Dividend Yield Yield

6.28%

Face Value: ₹10

Debt / Equity Solvency

0.60x

Manageable

EPS (TTM) Per Share

₹23.84

Trailing 12M

OPM (%) Spread

8.0%

EBITDA Margin

Free Cash Flow Cash

₹48,881 Cr

CFO - Capex

About Indian Oil Corporation Ltd

Indian Oil Corporation Ltd (IOC) is a leading Indian enterprise operating in the Energy & Oil sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 5.8% × Turnover: 0.85x × Leverage: 1.6x = ROE: 20.5%

✓ Company Strengths (Pros)

• Company has a stellar track record of return on equity (ROE of 20.5%).
• Stock is trading at an attractive price-to-book multiple of 0.9x.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹8.58 Lakh Cr

Latest PAT

₹35,728 Cr

EPS (TTM)

₹23.84

OPM %

8.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹1.99 Lakh Cr	₹1.79 Lakh Cr	₹2.00 Lakh Cr	₹1.99 Lakh Cr	₹1.94 Lakh Cr	₹1.75 Lakh Cr	₹1.94 Lakh Cr	₹1.95 Lakh Cr	₹1.92 Lakh Cr	₹1.79 Lakh Cr	₹2.05 Lakh Cr	₹2.08 Lakh Cr	₹2.66 Lakh Cr
Operating Profit (EBITDA)	₹23,700 Cr	₹23,171 Cr	₹16,733 Cr	₹11,975 Cr	₹9,921 Cr	₹3,467 Cr	₹7,573 Cr	₹15,029 Cr	₹13,267 Cr	₹16,245 Cr	₹22,745 Cr	₹24,804 Cr	₹4,062 Cr
OPM %	12.0%	13.0%	8.0%	6.0%	5.0%	2.0%	3.9%	8.0%	7.0%	9.0%	11.0%	12.0%	1.5%
Interest Expense	₹1,743 Cr	₹1,977 Cr	₹1,958 Cr	₹2,147 Cr	₹2,080 Cr	₹2,546 Cr	₹2,458 Cr	₹2,178 Cr	₹2,070 Cr	₹2,270 Cr	₹2,088 Cr	₹1,880 Cr	₹1,730 Cr
Depreciation	₹3,476 Cr	₹3,610 Cr	₹4,686 Cr	₹4,094 Cr	₹4,103 Cr	₹4,065 Cr	₹4,284 Cr	₹4,325 Cr	₹4,179 Cr	₹4,227 Cr	₹4,457 Cr	₹5,557 Cr	₹4,408 Cr
Profit before Tax (PBT)	₹19,450 Cr	₹18,413 Cr	₹12,005 Cr	₹7,420 Cr	₹4,841 Cr	-₹589.00 Cr	₹2,766 Cr	₹10,045 Cr	₹8,750 Cr	₹11,104 Cr	₹17,827 Cr	₹19,791 Cr	-₹933.00 Cr
Net Profit (PAT)	₹14,735 Cr	₹13,713 Cr	₹9,225 Cr	₹5,488 Cr	₹3,723 Cr	-₹449.00 Cr	₹2,147 Cr	₹8,368 Cr	₹6,808 Cr	₹8,191 Cr	₹13,502 Cr	₹15,176 Cr	-₹1,141 Cr
EPS in ₹	₹10.22	₹9.29	₹6.39	₹3.65	₹2.50	₹-0.12	₹1.50	₹5.75	₹4.83	₹5.54	₹9.21	₹10.24	₹-1.15

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹4.50 Lakh Cr	₹3.46 Lakh Cr	₹3.55 Lakh Cr	₹4.21 Lakh Cr	₹5.28 Lakh Cr	₹4.84 Lakh Cr	₹3.64 Lakh Cr	₹5.89 Lakh Cr	₹8.42 Lakh Cr	₹7.76 Lakh Cr	₹7.58 Lakh Cr	₹7.84 Lakh Cr	₹8.58 Lakh Cr
Expenses	₹4.39 Lakh Cr	₹3.24 Lakh Cr	₹3.21 Lakh Cr	₹3.80 Lakh Cr	₹4.93 Lakh Cr	₹4.68 Lakh Cr	₹3.24 Lakh Cr	₹5.43 Lakh Cr	₹8.11 Lakh Cr	₹7.01 Lakh Cr	₹7.22 Lakh Cr	₹7.07 Lakh Cr	₹7.91 Lakh Cr
Operating Profit	₹10,575 Cr	₹22,038 Cr	₹34,149 Cr	₹41,658 Cr	₹35,262 Cr	₹16,053 Cr	₹39,929 Cr	₹46,619 Cr	₹30,683 Cr	₹75,650 Cr	₹36,040 Cr	₹77,108 Cr	₹67,856 Cr
OPM %	2.4%	6%	10%	10%	7%	3.3%	11%	8%	3.6%	10%	4.8%	10%	8%
Interest	₹4,201 Cr	₹3,487 Cr	₹3,743 Cr	₹3,875 Cr	₹4,925 Cr	₹5,792 Cr	₹2,933 Cr	₹4,301 Cr	₹7,588 Cr	₹7,881 Cr	₹9,311 Cr	₹8,354 Cr	₹7,967 Cr
Depreciation	₹5,219 Cr	₹5,698 Cr	₹6,806 Cr	₹7,664 Cr	₹8,506 Cr	₹10,273 Cr	₹10,941 Cr	₹12,348 Cr	₹13,181 Cr	₹15,866 Cr	₹16,777 Cr	₹18,420 Cr	₹18,650 Cr
Profit before Tax	₹7,014 Cr	₹18,072 Cr	₹27,956 Cr	₹34,450 Cr	₹25,927 Cr	-₹7,177 Cr	₹30,751 Cr	₹34,289 Cr	₹15,038 Cr	₹57,288 Cr	₹17,063 Cr	₹57,472 Cr	₹47,789 Cr
Net Profit	₹4,872 Cr	₹12,413 Cr	₹20,385 Cr	₹22,626 Cr	₹17,274 Cr	-₹1,876 Cr	₹21,762 Cr	₹25,727 Cr	₹11,704 Cr	₹43,161 Cr	₹13,789 Cr	₹43,677 Cr	₹35,728 Cr
EPS in Rs	3.37	8.25	13.63	15.23	12.31	-0.63	15.32	17.78	6.93	29.55	9.63	29.81	23.84

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹2,428 Cr	₹2,370 Cr	₹4,739 Cr	₹9,479 Cr	₹9,181 Cr	₹9,181 Cr	₹9,181 Cr	₹9,181 Cr	₹13,772 Cr	₹13,772 Cr	₹13,772 Cr	₹13,772 Cr
Reserves & Surplus	₹66,404 Cr	₹87,610 Cr	₹97,357 Cr	₹1.04 Lakh Cr	₹1.03 Lakh Cr	₹86,217 Cr	₹1.03 Lakh Cr	₹1.24 Lakh Cr	₹1.26 Lakh Cr	₹1.70 Lakh Cr	₹1.73 Lakh Cr	₹2.06 Lakh Cr
Borrowings (Debt)	₹64,893 Cr	₹58,552 Cr	₹63,271 Cr	₹65,650 Cr	₹96,765 Cr	₹1.30 Lakh Cr	₹1.17 Lakh Cr	₹1.32 Lakh Cr	₹1.49 Lakh Cr	₹1.33 Lakh Cr	₹1.52 Lakh Cr	₹1.32 Lakh Cr
Total Liabilities	₹2.34 Lakh Cr	₹2.32 Lakh Cr	₹2.74 Lakh Cr	₹2.96 Lakh Cr	₹3.35 Lakh Cr	₹3.30 Lakh Cr	₹3.55 Lakh Cr	₹4.11 Lakh Cr	₹4.42 Lakh Cr	₹4.83 Lakh Cr	₹5.08 Lakh Cr	₹5.29 Lakh Cr
Fixed Assets	₹76,781 Cr	₹1.00 Lakh Cr	₹1.16 Lakh Cr	₹1.24 Lakh Cr	₹1.32 Lakh Cr	₹1.47 Lakh Cr	₹1.57 Lakh Cr	₹1.61 Lakh Cr	₹1.80 Lakh Cr	₹1.96 Lakh Cr	₹2.01 Lakh Cr	₹2.09 Lakh Cr
Total Assets	₹2.34 Lakh Cr	₹2.32 Lakh Cr	₹2.74 Lakh Cr	₹2.96 Lakh Cr	₹3.35 Lakh Cr	₹3.30 Lakh Cr	₹3.55 Lakh Cr	₹4.11 Lakh Cr	₹4.42 Lakh Cr	₹4.83 Lakh Cr	₹5.08 Lakh Cr	₹5.29 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹46,092 Cr	₹25,624 Cr	₹28,216 Cr	₹29,115 Cr	₹12,747 Cr	₹7,146 Cr	₹49,650 Cr	₹24,570 Cr	₹29,644 Cr	₹71,146 Cr	₹34,452 Cr	₹76,142 Cr
Cash from Investing (CFI)	-₹10,215 Cr	-₹13,610 Cr	-₹17,684 Cr	-₹17,119 Cr	-₹22,569 Cr	-₹29,101 Cr	-₹22,935 Cr	-₹21,178 Cr	-₹28,030 Cr	-₹31,512 Cr	-₹31,641 Cr	-₹22,274 Cr
Cash from Financing (CFF)	-₹38,283 Cr	-₹11,890 Cr	-₹10,937 Cr	-₹12,007 Cr	₹10,436 Cr	₹22,456 Cr	-₹27,369 Cr	-₹2,997 Cr	-₹1,794 Cr	-₹39,385 Cr	-₹3,421 Cr	-₹52,672 Cr
Free Cash Flow (FCF)	₹33,680 Cr	₹9,576 Cr	₹14,388 Cr	₹11,086 Cr	-₹12,748 Cr	-₹24,277 Cr	₹27,904 Cr	₹1,533 Cr	-₹2,524 Cr	₹34,453 Cr	₹83.00 Cr	₹48,881 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	6	8	9	9	11	10	14	12	7	6	9	7
Inventory Days	46	54	87	77	64	59	111	84	59	70	63	68
Cash Conversion Cycle (Days)	23	31	55	46	41	45	76	59	40	42	39	41
ROCE %	6%	14%	20%	22%	16%	5%	15%	16%	8%	21%	7%	19%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹364.10 • Undervalued (Margin of Safety)

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹148.38

DCF Fair Value

₹364.10

Graham Number

₹288.34

Margin of Safety

+122.4%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹364.10

Undervalued (Margin of Safety) (Margin: +122.4%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹354	₹351	₹348	₹345
10%	₹361	₹358	₹354	₹351
12%	₹367	₹364	₹361	₹358
14%	₹374	₹371	₹367	₹364

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹364	Undervalued
Benjamin Graham Number	₹288	Margin of Safety
Historical Sector P/E	₹524	Discounted
EV / EBITDA Multiplier	₹156	In-Line
Free Cash Flow Yield Model	₹145	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 6/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

6 / 9 Pass

Altman Z-Score

3.26 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.60x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 8.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

51.50%

FIIs (Foreign)

9.08%

DIIs (Domestic)

9.52%

Government

0.15%

Public / Retail

10.32%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	51.50%	51.50%	51.50%	51.50%	51.50%	51.50%	51.50%	51.50%	51.50%	51.50%	51.50%	51.50%
+ FIIs (Foreign Portfolio)	7.84%	8.84%	8.49%	7.79%	7.90%	7.43%	7.39%	7.48%	7.69%	8.57%	9.84%	9.08%
+ DIIs (Mutual Funds / Insurance)	10.70%	9.90%	10.23%	10.04%	10.43%	10.08%	9.97%	10.29%	10.42%	10.00%	9.10%	9.52%
+ Public (Retail & HNIs)	10.36%	10.13%	10.18%	11.07%	10.59%	11.39%	11.57%	11.15%	10.81%	10.34%	9.96%	10.32%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Energy & Oil.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

IOC Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

IOC Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

IOC Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹189.93

Accelerated market share capture in Energy & Oil, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹166.19

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 6x P/E.

🐻 Bear Case (15%) -12.0%

₹130.57

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Energy & Oil)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:46 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Indian Oil Corporation Ltd (IOC)	Target Stock	₹148.38	+1.04%	5.5x	20.5%	18.7%	0.60	₹1.85 Lakh Cr
Oil & Natural Gas Corporation Ltd (ONGC)	Oil & Gas Exploration & Production	₹234.80	+0.56%	6.4x	11.6%	14.2%	0.47	₹2.80 Lakh Cr
Bharat Petroleum Corporation Ltd (BPCL)	Refining & Fuel Retail	₹315.25	-0.24%	8.4x	28.8%	25.6%	0.54	₹1.30 Lakh Cr
GAIL (India) Ltd (GAIL)	Natural Gas Transmission & Marketing	₹189.90	+1.01%	12.0x	9.6%	10.7%	0.29	₹1.13 Lakh Cr
Adani Total Gas Ltd (ATGL)	Sector Peer	₹581.30	+1.10%	101.0x	14.4%	15.3%	0.46	₹64,146 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:46:00 IST	✓ Live Sync
Financial Statements (10Y)	Indian Oil Corporation Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Indian Oil Corporation Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Indian Oil Corporation Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Energy & Oil)

Metric Explainer

Stock DNA Methodology

Document Title