# IOC (IOC) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/ioc

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹136
- Change: +1.29%
- As of: 2026-09-18
- 1D return: +2.03%
- 5D return: +1.53%
- 1M return: +0.81%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, the stock is trading at ₹137.0, showing a mixed technical picture across different timeframes. The daily timeframe indicates a bearish trend, with the Super Trend pointing downwards and the price below key moving averages like the 50-day SMA and 50-day EMA. However, the monthly timeframe presents a bullish signal, with the Super Trend in an upward direction and the price above it, though it is below the 20-day and 50-day SMAs on this longer timeframe. The weekly timeframe aligns with the daily view, showing a bearish Super Trend and the price below its 20-day and 50-day EMAs and SMAs.

Recent price action on the weekly chart has formed a Hammer and a Harami pattern, suggesting potential shifts in sentiment. The stock is currently positioned within its recent trading range, closer to the lower end based on 20-day and 252-day ranges, but slightly above the midpoint of the 50-day range. The annualized volatility stands at 26%, with a current drawdown of -27% and a maximum drawdown of -30%, indicating elevated risk.

Key support is observed around ₹135.86, with immediate resistance near ₹137.07. A break above the ₹137.07 resistance could signal a short-term upward move, while a fall below the ₹135.86 support might indicate further weakness, especially given the bearish signals on the daily and weekly charts.

- Daily and weekly timeframes show bearish trends, while the monthly timeframe indicates a bullish trend.
- Nearest support level is ₹135.86; nearest resistance level is ₹137.07.
- Active weekly patterns include Hammer and Harami formations.
- Annualized volatility is 26% with a current drawdown of -27%.
- Watch for a move above ₹137.07 for potential short-term strength or a break below ₹135.86 for potential further weakness.

- Hammer
- Harami
- Bearish Engulfing Reversal
- Outside Bar
- Bullish Engulfing Reversal

### News Context

Indian state-owned refiners, including IOC, are navigating increased crude supply uncertainty. This situation is compounded by potential tougher US restrictions on Russian oil buyers, alongside disruptions in Middle East supplies. Saudi Arabia's East-West pipeline shutdown, for instance, impacted over 400,000 barrels a day of supplies to India, though partial restoration is anticipated within days. This backdrop of supply concerns coincides with a projected decline in retail fuel marketing margins. For September, margins are estimated to be a loss of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel. Despite these challenges, the impact on the second quarter's overall performance may be mitigated by refining gains experienced in the earlier months of the quarter.

- IOC, along with other state-run refiners like HPCL and BPCL, has seen its shares decline year-to-date, down 18%, 30%, and 20% respectively, as of September 17, 2026.
- Crude oil prices breached $100 a barrel in September 2026, with Brent crude around $107, driven by supply fears linked to US-Iran clashes.
- Retail fuel marketing margins are projected to be negative in September 2026, with an estimated loss of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel.
- Supply disruptions from Saudi Arabia's East-West pipeline affected over 400,000 barrels a day to India, with partial recovery expected soon, as of September 17, 2026.
- Refining gains in the first two months of the quarter could potentially offset the projected losses in retail fuel marketing margins for the second quarter.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- National News: Latest India Updates | IANS Live
- These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF
- Russian oil uncertainty hangs over India’s largest buyers
- Five safe dividend stocks to beat inflation in India

### What Changed

Indian Oil (IOC) is facing potential margin pressure due to rising crude oil prices, with Brent crude reaching approximately $107 per barrel as of September 2026. This surge, fueled by geopolitical concerns, is expected to lead to retail fuel marketing losses of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel in September. However, the company may offset some of these losses with refining gains experienced in the first two months of the second quarter of 2026. In terms of recent price action on the NSE, IOC closed at ₹137.0 on September 18, 2026, a slight increase from its previous price of ₹134.27.

- As of September 2026, Brent crude oil prices have risen to approximately $107 per barrel.
- Retail fuel marketing margins are projected to be negative in September 2026, with an expected loss of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel.
- The company may see some offset to margin pressures from refining gains in the first two months of Q2 2026.
- IOC's closing price on the NSE was ₹137.0 on September 18, 2026.
- The closing price on September 17, 2026, was ₹134.27.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- National News: Latest India Updates | IANS Live

### Official Filings

Indian Oil Corporation Limited (IOC) has recently confirmed the fulfillment of several financial obligations. On September 18, 2026, the company confirmed the redemption of 21,000 commercial paper units. Earlier, on September 11, 2026, IOC had confirmed the redemption of 6,000 commercial paper units. Additionally, on September 7, 2026, the company made an interest payment of ₹17,850 lakhs on its 7.14% Non-convertible Debentures (Series XXIV). These payments relate to maturing commercial papers and scheduled debenture interest, indicating the company's adherence to its debt servicing commitments.

In terms of corporate governance, IOC disclosed on September 1, 2026, the cessation of two senior management personnel, Rajesh Nambiar and Rajeev Mohan, due to superannuation, effective August 31, 2026. Furthermore, at the 67th Annual General Meeting held on August 31, 2026, shareholders approved amendments to the Memorandum and Articles of Association. These amendments, filed on September 1, 2026, broaden the company's stated business objectives to include new ventures such as Bio-refinery, Hydrogen & Ammonia, Specialty Chemicals, Critical Minerals, Energy Commodities trading, Carbon Markets, Data Centers, Yarns, Fertilizers, and Project Management Services.

- On September 18, 2026, Indian Oil Corporation Ltd. confirmed the redemption of 21,000 commercial paper units maturing on that date.
- On September 11, 2026, Indian Oil Corporation Ltd. confirmed the redemption of 6,000 commercial paper units maturing on that date.
- On September 7, 2026, Indian Oil Corporation Limited paid ₹17,850 lakhs in interest on its 7.14% Non-convertible Debentures (Series XXIV).
- On August 31, 2026, two senior management personnel, Rajesh Nambiar and Rajeev Mohan, ceased their roles due to superannuation.
- On August 31, 2026, shareholders approved amendments to the Memorandum and Articles of Association, expanding the company's business objectives to include new energy and related ventures.

- Record Date Updates |SUBJECT: Record Date Updates
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Record Date Updates |SUBJECT: Record Date Updates
- Record Date Updates |SUBJECT: Record Date Updates
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- INDIAN OIL CORPORATION LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA
- Indian Oil Corporation Limited has informed the Exchange regarding 'Change in Senior Management Personnel'. |SUBJECT: Updates
- Indian Oil Corporation Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company. |SUBJECT: Amendment to AOA/MOA
- Indian Oil Corporation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results. |SUBJECT: Shareholders meeting

### Fundamentals

Indian Oil Corporation (IOC) reported a loss for the period from continuing operations in Q1 FY2026-27, amounting to ₹1,838.22 crore. This contrasts with profits of ₹13,035.75 crore in Q3 FY2025-26 and ₹40,701.76 crore in Q4 FY2025-26. The company's profit before exceptional items and tax also turned negative in Q1 FY2026-27 at -₹1,629.72 crore, compared to positive figures in the preceding two quarters. Expenses in Q1 FY2026-27 were ₹2,84,008.74 crore, a significant increase from ₹2,20,057.35 crore in Q3 FY2025-26, though lower than ₹8,51,119.17 crore in Q4 FY2025-26. Finance costs in Q1 FY2026-27 were ₹1,729.53 crore, down from ₹2,088.02 crore in Q3 FY2025-26 and ₹8,307.88 crore in Q4 FY2025-26. Other comprehensive income also saw a substantial negative swing, from ₹475.53 crore in Q3 FY2025-26 and ₹4,731.48 crore in Q4 FY2025-26, to -₹3,822.28 crore in Q1 FY2026-27. Tax expense reduced significantly in Q1 FY2026-27 to ₹208.50 crore from ₹4,324.59 crore in Q3 FY2025-26 and ₹13,794.76 crore in Q4 FY2025-26, reflecting the loss before tax.

- Indian Oil reported a loss from continuing operations of ₹1,838.22 crore in Q1 FY2026-27.
- Profit before exceptional items and tax was -₹1,629.72 crore in Q1 FY2026-27.
- Expenses in Q1 FY2026-27 were ₹2,84,008.74 crore.
- Finance costs decreased to ₹1,729.53 crore in Q1 FY2026-27.
- Other comprehensive income was -₹3,822.28 crore in Q1 FY2026-27.

### Bull Case

The company's monthly technical trend indicates a bullish setup, with the Supertrend indicator suggesting a positive direction. While the daily and weekly trends are currently showing a bearish Supertrend direction, the monthly timeframe's bullish signal may be a point of consideration. The company's shares have experienced a year-to-date return of -17%, and a 1-year return of -7%, indicating a period of price decline. However, the company is noted as one of five dividend stocks identified for their potential to combat inflation, suggesting a focus on shareholder returns.

- The monthly technical trend shows a bullish Supertrend direction as of September 18, 2026.
- The company is listed among five dividend stocks identified as potentially helping to beat inflation.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- National News: Latest India Updates | IANS Live
- These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF
- Russian oil uncertainty hangs over India’s largest buyers
- Five safe dividend stocks to beat inflation in India

### Bear Case

The company's stock performance has shown a year-to-date decline of 17%, and a 7% decrease over the past year, indicating a challenging market reception. Technical indicators suggest a bearish trend on a daily and weekly basis, with the Supertrend indicator pointing downwards. Furthermore, the company faces potential margin pressure due to rising crude oil prices, with retail fuel marketing margins expected to incur losses of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel in September. Supply chain uncertainties, stemming from Middle East disruptions and potential restrictions on Russian oil, add another layer of operational risk.

- Year-to-date return is -17% as of 2026-09-18.
- The stock has experienced a 7% decline over the past year.
- Daily and weekly technical trends are indicated as bearish.
- Retail fuel marketing margins are projected to be negative in September, with losses of ₹7.4/litre for petrol and ₹10.3/litre for diesel.
- Crude oil prices have breached $100 a barrel, with Brent crude around $107, potentially impacting margins.

- Crude shock to hit oil companies' margins, but refining gains could save Q2 show
- National News: Latest India Updates | IANS Live
- These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF
- Russian oil uncertainty hangs over India’s largest buyers
- Five safe dividend stocks to beat inflation in India
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Uptrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹134.53
- Risk regime: Price Risk Requires Attention

### Support levels
- 137.07192626953125
- 136.58249999999998
- 130.375

### Resistance levels
- 143.375
- 144.291591796875
- 148.197841796875

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +2.03% |
| return_10 | -0.58% |
| return_1m | -0.58% |
| return_1y | -6.90% |
| return_20 | +0.81% |
| return_3m | -6.24% |
| return_5 | +1.53% |
| return_6m | -7.60% |
| return_since_start | -0.03% |
| return_ytd | -17.41% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -29.69% |
| annualized_volatility | +26.21% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Net loss as revenue retreats from prior quarter's surge; comprehensive loss deepens

Indian Oil Corporation Limited reported a net loss from continuing operations of ₹1,838.22 crore for the quarter ended 30 June 2026, compared with a net profit of ₹5,659.67 crore in the same quarter a year earlier. This reversal follows an exceptional surge in revenue and profit in the preceding quarter. Revenue from operations rose 27% year on year to ₹2,81,933.07 crore, but total expenses grew 32% to ₹2,84,008.74 crore, resulting in a loss before tax of ₹1,629.72 crore. A large other comprehensive loss of ₹3,822.28 crore deepened the total comprehensive loss to ₹4,963.37 crore.

## Revenue and Expenses

Revenue from operations was ₹2,81,933.07 crore, up 27% from the prior-year quarter. This follows a period of relative stability in the first three quarters of FY2025-26, where revenue ranged between ₹2.06 lakh crore and ₹2.36 lakh crore, before spiking to ₹9,01,452.70 crore in Q4 FY2025-26. In the current quarter, revenue fell back to its typical range, though it remains well above the year-ago level.

Total expenses reached ₹2,84,008.74 crore, growing 32% year on year. The major reported expense components were cost of materials consumed (₹1,95,317.95 crore), purchases of stock in trade (₹71,833.62 crore), and a negative change in inventories of ₹21,590.18 crore, which reduced the overall cost base. Employee benefit expenses were ₹2,592.11 crore, depreciation was ₹4,408.15 crore, and finance costs were ₹1,729.53 crore. These items totalled ₹2,54,291.18 crore, with other operating expenses accounting for the remaining ₹29,718 crore.

## Profitability

The company recorded a loss before tax of ₹1,629.72 crore, reversing a profit of ₹7,602.03 crore in the same quarter last year and a profit of ₹54,496.52 crore in the previous quarter. Tax expense was ₹208.50 crore, down from ₹1,942.36 crore a year ago, consistent with the weaker pre-tax result. After tax, the net loss from continuing operations was ₹1,838.22 crore.

Basic and diluted loss per share from continuing operations was ₹1.18, compared to earnings of ₹4.95 per share in the prior-year quarter. After including a share of profit from associates and joint ventures of ₹697.13 crore, the total loss for the period narrowed to ₹1,141.09 crore, of which ₹1,630.74 crore was attributable to the parent company.

## Other Comprehensive Income

Other comprehensive income (OCI) was a loss of ₹3,822.28 crore, compared to a gain of ₹608.75 crore a year ago. This was driven by a ₹4,810.97 crore loss on items that will not be reclassified to profit or loss, partially offset by a related tax credit of ₹709.62 crore. Items that may be reclassified contributed a net ₹279.07 crore after tax. Consequently, total comprehensive income was a loss of ₹4,963.37 crore, compared to a comprehensive income of ₹7,416.87 crore in Q1 FY2025-26. The comprehensive loss attributable to owners of the parent was ₹5,423.98 crore, while non-controlling interests recorded a comprehensive income of ₹460.61 crore.

## Finance Costs

Finance costs in the quarter were ₹1,729.53 crore, down 16.5% from ₹2,070.05 crore in the same quarter last year and 79.2% below the ₹8,307.88 crore recorded in Q4 FY2025-26. The current quarter’s finance cost was the lowest level recorded in the past five quarters. While the decline reduced the overall expense burden, it was not sufficient to prevent the operating loss.

## Management Commentary

For the quarter ended June 30, 2026, Indian Oil Corporation reported a standalone net loss of ₹2,662.37 crore, reversing a profit of ₹5,688.60 crore in the prior-year quarter, primarily due to a ₹2,872.56 crore loss in the petroleum products segment. Management highlighted that the government has approved ₹14,486 crore in compensation for domestic LPG under-recoveries, of which ₹3,621.51 crore was recognized in Q1, though a cumulative net negative buffer of ₹29,729.95 crore remains. On a consolidated basis, the net loss attributable to parent was ₹1,630.74 crore versus a profit of ₹6,813.71 crore a year ago. The filing did not include explicit forward guidance, demand trends, or capital expenditure plans; key risks include the large LPG buffer and segmental losses.

## Key Takeaway

Indian Oil Corporation Limited posted a net loss from continuing operations of ₹1,838.22 crore in the quarter ended 30 June 2026, a sharp reversal from the year-ago profit. Revenue grew 27% year on year, but expenses grew faster at 32%, pushing operations into a loss. A large negative other comprehensive income of ₹3,822.28 crore deepened the total comprehensive loss to ₹4,963.37 crore. The quarter’s results reflect a retreat from the exceptional revenue spike seen in the prior quarter, with lower finance costs providing partial relief but not enough to offset the broader expense increase.

### Ratios

## Official filings

- 2026-09-18 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IOCL_18092026142139_Record_date_07122026.pdf)
- 2026-09-18 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IOCL_18092026145734_Redemprtion_certificate.pdf)
- 2026-09-18 — Management Change: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_18092026164543_Reg_30_Cessation_of_Independent_Director_18092026_S.pdf)
- 2026-09-18 — Management Change: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_ROID_98586_KMP_Doc.zip)
- 2026-09-17 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IOC_17092026100435_2026_09_17_Record_date_intimation_XIV_Interest_2026_SE_S.pdf)
- 2026-09-11 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IOCL_11092026152936_Redemption_certificate.pdf)
- 2026-09-11 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IOCL_11092026153504_Redemption_certificate.pdf)
- 2026-09-07 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/IOC_07092026161524_IOC_Deb_Int_INE242A08536_XXIV_S.pdf)
- 2026-09-01 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_854_WebXMLFile_20260901_105548376.xml)
- 2026-09-01 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_01092026105908_2026_09_01_Reg_30_Change_in_Senior_management_S.pdf)
- 2026-09-01 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_01092026180956_2026_09_01_Amendment_MoA_AoA_S.pdf)
- 2026-09-01 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_01092026175911_67_AGM_Voting_Results_SR_S.pdf)
- 2026-08-31 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_31082026155228_67_AGM_2025_26_Summary_of_proceedings_S.pdf)
- 2026-08-15 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_15082026142827_Reg_30_-__App_of_ID_Dr_Alka_Mundra_S.pdf)
- 2026-08-15 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_854_WebXMLFile_20260815_142632259.xml)
- 2026-08-11 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_11082026112237_67_AGM_25_26_Newspaper_Clippings_Post_Notice_S.pdf)
- 2026-08-07 — Management Change: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_07082026165818_67_AGM_25_26_Notice_S.pdf)
- 2026-08-07 — Generic Announcement: Indian Oil Corporation Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_07082026161411_2026_08_07_Transcripts_of_Analyst_Concall_for_Q1_26_27_S.pdf)
- 2026-08-04 — Official Filing: Indian Oil Corporation Ltd. has fixed August 22, 2026, as the record date to determine eligibility for interest payment on its Listed, Unsecured, Rated, Taxable, Redeemable, Non-Convertible Debentures (Series-XXIV) with a 7.14% interest rate, issued on September 6, 2022, for Rs. 2500 crore. Interest for the period September 6, 2025, to September 5, 2026, will be paid on September 7, 2026, due to September 6, 2026, being a bank holiday.
- 2026-08-04 — Generic Announcement: Indian Oil Corporation Limited published a public notice on August 4, 2026, announcing the convening of its 67th Annual General Meeting through Video Conference/Other Audio-Visual Means. The notice appeared in "The Times of India", "The Economic Times", "Navbharat Times", and "Maharashtra Times", and is also available on the company's website. — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_04082026104709_67_AGM_25_26_Cover_letter_newspaper_adv_of_Prior_Notice_S.pdf)
- 2026-08-01 — Generic Announcement: Indian Oil Corporation Limited will hold its 67th Annual General Meeting on August 31, 2026, via Video Conferencing. The company has set August 24, 2026, as the record date for determining eligibility for a final dividend of Rs. 1.25 per share for the 2025-26 fiscal year. Remote e-voting will be available from August 27 to August 30, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_01082026114501_67_AGM_25_26_Intimation_to_SEs_about_AGM_S.pdf)
- 2026-08-01 — Generic Announcement: Indian Oil Corporation Limited informed the National Stock Exchange of India Limited and BSE Limited on August 1, 2026, that three senior management personnel, Ashutosh Kumar Mehta, Dhulipala Padma, and Jitendra Agarwalla, superannuated from their services on July 31, 2026. These individuals held executive director positions in various departments including Construction, Pipeline, Business Development, and Health, Safety & Environment. — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_01082026111943_2026_08_01_Reg_30_Change_in_Senior_management_S.pdf)
- 2026-08-01 — Official Filing: Indian Oil Corporation Limited reported a change in management effective July 31, 2026. Ashutosh Kumar Mehta, Executive Director (Construction), Pipeline Head Office, and Dhulipala Padma, Executive Director (CP&ES) Business Development, Corporate Office, were appointed. Jitendra Agarwalla was appointed Executive Director-I/c (H,S&E), Corporate Office.
- 2026-07-31 — Official Filing: Indian Oil Corporation Limited has filed a statement for the quarter ended June 30, 2026, indicating no deviation or variation in the use of proceeds from its listed non-convertible unsecured debentures. The total outstanding amount raised through private placement of these debentures as of June 30, 2026, is Rs. 17,000 crore. The funds were utilized for their originally stated purpose, which includes refinancing existing borrowings and funding capital expenditure.
- 2026-07-31 — Generic Announcement: Indian Oil Corporation Limited has filed its unaudited financial results for the quarter ended June 30, 2026, reporting a net loss of ₹2,662.37 crore on a standalone basis and a net loss of ₹1,630.74 crore on a consolidated basis. The company also confirmed no deviation in the utilization of ₹17,000 crore raised through non-convertible debentures and provided a nil report for security cover. The Board of Directors approved these results on July 31, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/IOC_31072026174223_2026_07_31_Financial_Results_Q1_2026_27_S.pdf)

## News and market events

- 2026-09-17 — Economic Times: **Crude shock to hit oil companies' margins, but refining gains could save Q2 show** — Oil breached $100 a barrel this month with Brent crude at around $107 as US-Iran clashes stoked supply fears. Retail fuel marketing margins are expected to turn into a loss of ₹7.4 per litre for petrol and ₹10.3 per litre for diesel in September. However, it is unlikely to erase improvement seen during the first two months of the quarter. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/crude-shock-to-hit-oil-companies-margins-but-refining-gains-could-save-q2-show/articleshow/134319868.cms)
- 2026-09-17 — IANSLIVE.IN: **National News: Latest India Updates | IANS Live** — Latest national news from India, covering politics, economy, and breaking events. Stay updated with live headlines on IANS Live. — [Source](https://ianslive.in/category/national/1)
- 2026-09-17 — CNBC-TV18: **These oil and gas stocks will be impacted after export levy revision on petrol, diesel and ATF** — Shares of MRPL are up 8% so far this year, while those of Reliance Industries are down 21%. Shares of the state-run refiners, HPCL, BPCL and IOC, are down 30%, 20% and 18% respectively for the year so far. — [Source](https://www.cnbctv18.com/market/oil-and-gas-stocks-petrol-diesel-atf-saed-cut-ril-mrpl-hpcl-bpcl-ioc-share-price-move-19992474.htm)
- 2026-09-17 — Economic Times: **Russian oil uncertainty hangs over India’s largest buyers** — Indian state-owned refiners are facing growing crude supply uncertainty as Middle East disruptions coincide with the risk of tougher US restrictions on Russian oil buyers. Saudi Arabias East-West pipeline shutdown has disrupted more than 400,000 barrels a day of supplies to India, although about half the capacity could return within days. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/russian-oil-uncertainty-hangs-over-indias-largest-buyers/articleshow/134300726.cms)
- 2026-09-17 — Mint: **Five safe dividend stocks to beat inflation in India** — With inflation putting pressure on purchasing power, here are 5 dividend stocks with strong payout histories and healthy yields. — [Source](https://www.livemint.com/market/stock-market-news/dividend-stocks-in-india-best-dividend-stocks-high-dividend-yield-stocks-11789555861801.html)
- 2026-09-16 — Economic Times: **Hormuz crisis lifts ONGC oil business, squeezes petrochemical unit as feedstock costs surge** — The financial landscape for ONGC's petrochemical unit OPaL is alarming, as it faces considerable losses amid skyrocketing naphtha and gas prices. This situation starkly contrasts with ONGC's thriving oil exploration sector. To stabilize its finances, OPaL intends to divest from specific product lines and plans to import lower-cost ethane feedstock by the fiscal year 2029-30. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/hormuz-crisis-lifts-ongc-oil-business-squeezes-petrochemical-unit-as-feedstock-costs-surge/articleshow/134296070.cms)
- 2026-09-16 — Mint: **Petrol dealers seek exemption from new charges on UPI transactions | Mint** — Fuel retailers say thin, regulated margins leave little room to absorb the ₹5 charge on UPI transactions above ₹2,000. — [Source](https://www.livemint.com/industry/advertising/petrol-dealers-seek-exemption-from-new-charges-on-upi-transactions-11789564422202.html)
- 2026-09-16 — NEWS.WEBINDIA123.COM: **Anupam Kher becomes the face of Tender247, opening Indias Rs 70 lakh crore Tender Market to more businesses** — PNN — [Source](https://news.webindia123.com/news/articles/business/20260916/4499387.html)
- 2026-09-16 — MONEYCONTROL: **Nomura sees sharp Q2 recovery for OMCs despite $100 oil; prefers IOCL, BPCL** — Nomura, IOCL, BPCL, HPCL, Hindustan Oil share price, BPCL stock today, Oil prices, Us-Iran war, brent crude — [Source](https://www.moneycontrol.com/news/business/stocks/nomura-sees-sharp-q2-recovery-for-omcs-despite-100-oil-prefers-iocl-bpcl-14030946.html)
- 2026-09-16 — Mint: **Petrol and diesel prices today, Sept 16: How much does fuel cost in Delhi, Mumbai, Bengaluru? Check here | Today News** — In Mumbai, petrol price stands at ₹111.21 per litre today. No change has been recorded in petrol prices compared to yesterday. — [Source](https://www.livemint.com/news/india/petrol-and-diesel-prices-today-sept-16-how-much-does-fuel-cost-in-delhi-mumbai-bengaluru-check-here-11789524764564.html)
- 2026-09-15 — The Hindu: **High refill, deposit costs keep consumers in Karnataka away from 10 kg LPG option** — Since the West Asia war began, State-owned oil companies have been encouraging consumers to switch to 10 kg LPG cylinders. — [Source](https://www.thehindu.com/news/national/karnataka/high-refill-deposit-costs-keep-consumers-in-karnataka-away-from-10-kg-lpg-option/article71400677.ece)
- 2026-09-15 — MONEYCONTROL: **Crude above $100 could widen OMC losses if retail fuel prices remain unchanged: Analysts** — oil prices, diesel losses, marketing margins, OMCs, economy, petrol, LPG — [Source](https://www.moneycontrol.com/news/business/economy/crude-above-100-could-widen-omc-losses-if-retail-fuel-prices-remain-unchanged-analysts-14030455.html)
- 2026-09-15 — Mint: **Tata, Adani, Reliance triple their EV charging points in 3 years | Mint** — The number of EV charging points installed by these three groups has grown 21% from FY25, when the cumulative was 15,651 and by 67% from FY24, when their total was 11,356. From the total of 5,438 in FY23, the network has grown 280%. — [Source](https://www.livemint.com/industry/ev-charging-stations-infrastructure-in-india-tata-power-adani-power-reliance-11789372330654.html)
- 2026-09-14 — Economic Times: **India, China discuss deepening energy cooperation as Chinese oil executive meets Hardeep Puri** — Chinese and Indian officials met to discuss deepening energy cooperation. CNPC Chairman Dai Houliang met with Minister Hardeep Singh Puri in New Delhi. Both nations are the world's top two crude oil importers. They aim to strengthen collaboration in oil, gas, and new energy sectors. This meeting follows recent high-level discussions between leaders of both countries. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/india-china-discuss-deepening-energy-cooperation-as-chinese-oil-executive-meets-hardeep-puri/articleshow/134243263.cms)
- 2026-09-14 — The Hindu: **India, China discuss deepening energy cooperation as Chinese oil executive meets Min Hardeep Puri** — India and China explore enhanced energy cooperation during a meeting between CNPC's chairman and Minister Hardeep Puri. — [Source](https://www.thehindubusinessline.com/news/india-china-discuss-deepening-energy-cooperation-as-chinese-oil-executive-meets-min-hardeep-puri/article71466207.ece)
- 2026-09-14 — MONEYCONTROL: **Role reversal: India supplies 70% of Russia's fuel imports in August, says CREA** — russian oil imports, India, vadinar refinery, nayara energy, china, august oil imports, CREA, economy, urals, brent — [Source](https://www.moneycontrol.com/news/business/economy/role-reversal-india-supplies-70-of-russia-s-fuel-imports-in-august-says-crea-14029330.html)
- 2026-09-11 — Times of India: **Fast EV charging stations to come up at 10 govt premises in city** — Patna to get fast EV charging stations at 10 govt premises, including Secretariat, after transport department signs MoU with IOCL to boost EV infrastructure. — [Source](https://timesofindia.indiatimes.com/city/patna/fast-ev-charging-stations-to-come-up-at-10-govt-premises-in-city/articleshow/134074762.cms)
- 2026-09-11 — The Hindu: **US supplied almost three-fourth of India’s LPG imports in August** — In August, the US supplied nearly 75% of India's LPG imports, driven by disruptions in the Strait of Hormuz. — [Source](https://www.thehindubusinessline.com/companies/us-supplied-almost-three-fourth-of-indias-lpg-imports-in-august/article71456574.ece)
- 2026-09-11 — NEWS.WEBINDIA123.COM: **Discovery spotlights the manufacturing journey of SERVO Lubricants by IndianOil in The Power Behind Progress** — PNN — [Source](https://news.webindia123.com/news/articles/business/20260911/4497441.html)
- 2026-09-11 — The Hindu: **Energy Edits Newsletter for September 11, 2026** — Explore the latest energy trends, geopolitical challenges, and innovations in the Energy Edits Newsletter for November 11, 2026. — [Source](https://www.thehindubusinessline.com/newsletter/bl-energy/energy-edits-newsletter-for-september-11-2026/article71455556.ece)
- 2026-09-10 — Economic Times: **Indian Oil refining leadership plans as it tests new waters; refiner moves to build a larger pool of executives for future senior roles** — Indian Oil Corporation is proactively bolstering its leadership and succession strategies while undergoing a vital board restructuring. This initiative includes a forward-thinking program to identify and nurture high-potential executives for senior roles and revamped recruitment for entry-level technical talent. These strategic adjustments are integral to achieving IOC's ambitious objectives for revenue growth and emissions reduction. — [Source](https://economictimes.indiatimes.com/industry/energy/oil-gas/indian-oil-refining-leadership-plans-as-it-tests-new-waters-refiner-moves-to-build-a-larger-pool-of-executives-for-future-senior-roles/articleshow/134026140.cms)
- 2026-09-10 — BUSINESS: **Crude oil at $100, but why are OMCs not on a slippery slope? Decoded** — Oil at $100: OMC stocks have already been punished significantly, and therefore investors are not reacting in panic after such a major fall, believe analysts. — [Source](https://www.business-standard.com/markets/news/crude-oil-prices-at-100-but-why-are-omc-stocks-not-on-a-slippery-slope-decoded-126091000429_1.html)
- 2026-09-10 — BUSINESSTODAY: **Brent crude crosses $100 per barrel: Will petrol, diesel prices increase again?** — Brent crude, Brent crude crosses $100, Brent crude crosses 100 per barrel, Brent crude price increase, will diesel price increase, will petrol price increase — [Source](https://www.businesstoday.in/india/story/brent-crude-crosses-usd-100-per-barrel-will-petrol-diesel-prices-increase-again-554476-2026-09-10)
- 2026-09-10 — BUSINESSTODAY: **CPCL, MRPL, HPCL, BPCL, IOC shares: Brent nears $102; impact on oil stocks** — MRPL share price, CPCL share price, oil prices, oil price today, BPCL share price, IOC share price, HPCL share price — [Source](https://www.businesstoday.in/markets/stocks/story/cpcl-mrpl-hpcl-bpcl-ioc-shares-brent-nears-102-impact-on-oil-stocks-554465-2026-09-10)
- 2026-09-10 — Economic Times: **Indian Oil Corp Share Price Today, Indian Oil Corp Stock Price Live NSE/BSE Updates | The Economic Times** — Indian Oil Corp Share Price Today - Get live NSE/BSE quotes of Indian Oil Corp with latest news, headlines and quick analysis. View forecasts, quarterly results, dividend details, balance sheet & more. — [Source](https://economictimes.indiatimes.com/indian-oil-corporation-ltd/stocks/companyid-11924.cms)

## Business profile

**Strategic vision:** Oil and gas company involved in refining, transportation, and marketing.

### Business segments
- **Refining Operations:** Operates a network of refineries across India, producing various petroleum products like petrol, diesel, LPG, and petrochemical feedstocks.
- **Pipeline Transportation:** Operates an extensive network of crude oil and product pipelines for efficient transportation of petroleum.
- **Fuel Marketing & Distribution:** Markets petrol, diesel, LPG, and lubricants through a large dealer network of retail outlets and bottling plants.
- **Petrochemicals & Specialties:** Produces specialty chemicals, petrochemicals, and bitumen supplied to industrial buyers and contractors.
- **Exploration & International Operations:** Participates in upstream oil and gas exploration blocks domestically and internationally through subsidiaries and joint ventures.

### Competitive strengths
- Government ownership
- Extensive pipeline network
- Large dealer and distributor network

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/ioc
Markdown representation: https://faxioms.com/stocks/ioc?render=md